Biff Loman

Biff Loman displays only a small measure of his youthful confidence, enthusiasm, and affection. More often, he appears troubled, frustrated, and sad. The name ‘Biff’ gives an appearance of a tough man, but in the play ‘Death of a Salesman’, Biff is a flawed character who is the opposite of the appearance his name gives. Although he is a flawed character, he manages to succeed at one thing that Willy was not able to, which is acknowledging his failures, rather than dreaming of something he is not able to achieve.As Willy Loman’s oldest son, Biff got most of his father’s attention. He was once a high school football idol, but did not put much effort into school work, failing math in his last year. Without the math credit, going to University of Virginia was not an option. Discovering that his dad was having an affair with another woman when he travelled to Boston, Biff gave up not only going to summer school to recover his math credit, but also g oing to his dream university.Biff’s perception of Willy as the ideal father is destroyed after the trip to Boston. The affair of his dad was the point in Biff’s life where everything started to spiral down, and Biff starts to reject Willy and his philosophy of becoming successful if you’re â€Å"well-liked†. No matter how much Biff wants to get away from being Willy Loman’s son, it is something he cannot do. No matter how much Biff vouches no to be like his father, it is something he cannot run away from.Willy’s two sons were both brought up as a child to have materialistic dreams, and to impress and please their father. Biff was desperate to please and impress Willy, but he realizes that the way he was brought up was flawed like his father. Also, he realizes that he did not want or is able to achieve the materialistic dreams that both Willy and Happy want to achieve so much. Unlike Willy and Happy, Biff is self-aware and takes a great value in the truth.In one of the scenes in the play, Biff shouts at Willy saying that he can’t hold a job because his dad made him very arrogant as a boy, that he can’t handle orders from a boss. Also, Biff is seen throughout the play stealing. Biff blames Willy for not giving him the proper guidance when he was caught stealing as a child. This gave an insight of Biff’s honesty and his true personality that he is not able to express himself, in the play, to Willy. Even so, Willy is not able to accept the truth, making Biff unable to communicate with Willy.

Atlantic Computer: a Bundle of Pricing Options

[Case Write-Up #5, 2011-11-14] Case 6. Atlantic Computer Group 11 2010123281 Lim, Min A 2010123380 Lee, Yoon Ji 2010101026 Na, Hyeon Jung 2010123031 Park, Jae Eon ?. Executive Summary At the present, with the growth of the Internet, the basic server market is growing rapidly and the Atlantic computer, which is aimed at producing the high performance server, is ready to sell the basic server. It launches the Tronn loaded with PESA. PESA, the software increases the speed of file sharing and web servers, two of the most used application for the consumers, so it should be sold with the Tronn, the hardware.At first year, if we assume that the firm will be able to sell all of the Tronn servers it can produce, Atlantic’s resulting share of the basic server segment will be 4%. We suggest that possibility as our goal to pursue. But the basic market is already full with the competitor, Ontario with the Zink and the company has a tendency to stick to the traditional marketing approach. T o overcome these impediments, we suggest to set the price based on the calculation of cost-based pricing and to abandon the original direct marketing methods and accept the indirect ways like online-marketing and the advertisement through diverse media. . Problem Analysis (Goal & Impediments) Goal As new-comer of the basic server market, Atlantic’s computer begins from the scratch. If Atlantic’s computer can sell all of its product, the Tronn, it can occupy 4% in basic server market. But the thing is, it is a ground stone to enlarge the market share in the long run, so it would better not to harm the revenue to reach that figure. The targeted consumers is people who have demand for basic server, especially who are interested in one application, especially either of file sharing and web servers, and who seeks the way to inimize the initial purchase costs and subsequent possession costs. Impediments We have two main impediments for our goal, strong competitor and Atlanti c computer’s traditional marketing strategy. Our strong competitor, Ontario, has already half of the market share in basic server segment. Also their product Zink has similar spec with Tronn. So we have to compete with Zink in price or innovative supply chain strategy. It is hard to appeal to consumers that we have not technological superiority but fall behind Zink in market share very much. Another main impediment is Atlantic Computer’s existing traditional marketing strategy.Atlantic Computer already won success in high performance segment, so many people in the company tend to think that it’s just right to apply existing marketing strategy to basic segment. Atlantic’s computer is interested in making intimate relationship with customers and maintaining its post-sales assistance service level in high performance segment. But situation in basic segment and high performance segment is different, we have to apply different marketing strategy each other. As mentioned above, there is specific situation where Zink and Tronn is very similar in technological aspect.Therefore, there should be some unique marketing strategy in basic segment. ?. Solution Analysis Solution To boost market share in basic segment, Atlantic Company should develop proper the pricing strategy. The company should consider four strategies: status-quo pricing, competition-based pricing, cost-based pricing and value-based pricing. ? Status-quo pricing cost of Server only and PESA for free Price of one Tronn Server = $2000 2 Tronn Servers + PESA software free = 2*2000 = $4000 Total Price of 2 Atlantic Bundles to Daytradejournal. com = $4000 Price of 1 Atlantic Bundle = $2000 ? Competition-based pricingPricing the Tronn servers based on price of competitor server (Zink by Ontario) and PESA for free. Since 2 Tronn Server with PESA software is equivalent to 4 Zink servers Price of one Zink Server = $1700 / 2 Tronn Servers + PESA software free=4*1700= $6800 Total Price of 2 Atlantic Bundles = $6800 Price of 1 Atlantic Bundle = $3400 ? Cost-based pricing (figure1, figure2) Cost incurred in PESA software development = $2000000 / Cost of Tronn Server = $1538 Price of 1 Atlantic Bundle = $ 2245 ?Value-based Pricing (figure3) Considering 4 Zink server is equivalent to 2 Tronn server and 2 PESA software. Price of 1 Atlantic Bundle = $ 4200Above diagram, we can know that fourth pricing strategy get high profit, but price is also high. If price is too high, customers are reluctant to buy Atlantic Bundle, and this harms the market share. So, the company should avoid to select Value-based pricing and Competition-based pricing. Status-quo pricing could be an effective way for increasing market share because of its cheap price, but it will not give benefit in the long-run. Cost-based pricing is the best choice for Atlantic Company, because its moderate price makes company get high market share in the beginning and moderate profit for first year.There could be an argument that status-quo pricing is more appropriate way to reach our goal of reaching the 4% of the market share in basic server field. But as mentioned above our goal is a ground stone to grow in the long run, it is better to choose the price making more profit with similar figure market share basis. Moreover to boost market share in basic segment the company should use indirect mass marketing. In high performance server market, it was efficient to use expensive direct marketing to the giant and few consumers. But it is non-matching to basic segment where the company should put its great effort to lower the price.So the company should use the indirect and comparatively cheaper way to connect with the smaller and much consumers of the basic server market. The Atlantic’s computer can use online-marketing like its competitor, Ontario, or it can use mass market advertising through mass media. It could affect to more consumers easily. Although this method the product could affe ct each consumer less, the total quantity of influence on the targeted consumers should increase assuming the number of the customers in this market, figure 1 figure 2 figure 3

A Study Of How Sound Is Used In Greg Gliennas Short Film, The Elevator

A Study Of How Sound Is Used In Greg Glienna's Short Film, The Elevator â€Å"The Elevator† Usage of Sound I recently watched the comedic short film â€Å"The Elevator† by Greg Glienna. The film describes the everyday struggles and worries of riding in an elevator. While these struggles are dramatized, it serves as a good representation of what we’re all feeling at times. It touches on issues such as overcrowding, worries about the maximum weight capacity, and being in a compact space with sick people. While the film is short and simple, it uses both diegetic and nondiegetic sounds to capture the mood. The short film starts with a lack of sound as the man approaches the elevator. The diegetic sounds finally start when the elevator dings and the man shuffles in. Tinny elevator music then starts playing, to add further to the fact that yes, he is in an elevator. The choice in elevator music is very stereotypical; smooth jazz music that one would expect to be playing. The music precedes to get louder whenever the elevator stops to let more people in. The increasing volume adds to the mood of the scene, portraying the main character’s annoyance. The diegetic sound of the elevator dinging whenever it opens adds a sense of doom, especially the longer the viewer watches every time it dings, more people seem to shuffle into the already crowded elevator. Finally, the elevator dings again and the music stops, possibly to represent the people in the elevator’s relief that someone is about to get off. I feel that the elevator music in general represents the agitated mood in the elevator, and a break in it only represents good things to come. However, another man gets on board and the music continues. While someone is calculating the overall weight capacity of the elevator, the elevator starts to make strained groaning sounds. This creates a mood of apprehension and foreboding; is the elevator going to crash, killing everyone? It takes the audience down a suspenseful path, as they were probably presuming that the short film was a comedy. As the elevat or falls, the elevator music stops as well, indicating the shift in the mood. However, it eventually resumes and the annoyed mood is present again. The only diegetic talking that occurs in the short film is when a man excuses himself off the elevator when an overweight man is approaching. This contrasts against the rest of the film and its lack of dialogue, adding a sense of urgency to the man wanting to get off. In my opinion, the scene would not have been as funny if he had not spoken at all and you were unable to pick up the intonation in his voice. There is silence in the film again when the main man manages to get out of the elevator. The lack of tinny elevator music or dialogue indicates the sense of relief that the main character is feeling; he is finally free from the sounds and the overcrowding. However, a different set of obnoxious elevator music starts playing again when the second elevator arrives, also full of people. This adds again to the sense of unfavorable conditio ns, of how unfortunate it is that this would happen again. It also adds to the humor of the scene as it creates a circumstance that the audience can relate to. The sounds of people coughing and sniffling are present during the next elevator scene, indicating that the main character is in an elevator full of sick people. The addition of these diegetic sounds adds to the humorous dread, as they are present in excess. While it is common to hear a cough or two, rarely is it an elevator full of coughing people. One of the coughing sounds is made louder than the others as the scene focuses on a glob of spit landing on the main man’s neck. This adds emphasis to the sick man’s cough in particular, making it the focus and an addition to the horrified mood. There only appears to be one non-diegetic noise in the short film. This occurs during a scene in the first elevator, when an overweight man is approaching the already full elevator. Low, brassy music that resembles the shark movie â€Å"Jaws† theme begins to play. This is a sound that the viewer is most likely already familiar with, adding to both the tone of the scene and the comedic value. The dreading tone is established by the fact that the viewer knows that the theme plays whenever a shark is approachingthe elevator’s demise. The comedic effect comes from the fact that the short film is comparing an obese man to a deadly shark. While the film is short and simple, without much variety in sounds and music, the times in which it does use sound are very effective because of it. Overall, I enjoyed this short film. I thought it was funny and very relatable, and I laughed a couple times throughout it. I didn’t think I would like it, just because it was a short film, but I was pleasantly surprised.

American Hospital Assciation Research Paper Example | Topics and Well Written Essays - 1000 words

American Hospital Assciation - Research Paper Example lth of individuals and the community as a whole and hence lends support to hospitals and health care systems that work for the betterment of community health. The organization which initially began as an association for hospital superintendents and addressed the concerns of hospital administrators later on provided membership access to executive officers, associates and institutions. These inclusions resulted in a change of the organization’s goal from simple interchange of ideas related to hospital management and economics to promoting efficient economic and hospital management. With the inclusion of institutional membership the objective was later extended to promote the health and welfare of the community at large, along with appropriate management of hospitals and dispensaries and to obtain the support and cooperation of hospitals and health care systems which had similar goals as the AHA. With these new objectives in place, the institution called for the development of outpatient services with emphasis on education and research. The revised mission in 1987 stressed on efficient leadership in public policies, advocacy and other services. Through its advocacy in courts and halls of the Congress the AHA has become the voice of hospitals and health care systems across the country. AHA is strongly advocating for the legal issues associated with healthcare and is laying emphasis on quality and accreditation of health care units keeping in mind the final goal of providing good quality health care to people. The achievements of the organization reflect its dual role in improving both hospital organization and public health. The AHA helped the establishment of the Blue cross and funding for the Commission on Hospital Care which in turn lead to the formation of the Hill-Burton programme. It also laid the foundation for the Medicare legislation which resulted in better access to healthcare facilities for the elderly. The AHA also established the House of Delegates

Leading and Managing in Organisations Essay Example | Topics and Well Written Essays - 4000 words - 1

Leading and Managing in Organisations - Essay Example The key to effective time management is planning ahead. I need to plan my time well by considering all activities and allocate time to each activity accordingly. The main issue with me was that I was experiencing increased work overload and pressure, which caused considerable anxiety and stress. This was because planning was completely lacking in my self-management. After I started planning my activities, I realized how much work I actually had and how much I was able to complete. I also tend to postpone activities that are of little interest, which later became a burden. I had to avoid procrastination in order to save time (Corttrell, 2003). Another key learning was prioritizing my work. I learnt how to prioritize my work based on its importance. Upon reflecting on my previous actions, I realized that I was in the habit of attending to important tasks first, and avoid others; this process seemed never ending. By prioritizing and planning, I will be able to complete all tasks. Another important aspect in effective time management is to avoid wasting time or to avoid activities that take up time. I realize that I have the habit of helping others too often, which takes up much of my time. I need to learn to say no in a polite manner and decide when to help others. By setting timelines to certain activities such as meetings, discussions etc, I will be able to avoid wastage of time. Sometimes, talking and discussing less has better impact on activities than too much of talking (Cottrell, 2003). Problem solving is an important activity that everyone faces; it is more important for people in the leadership roles. I make decisions very quickly. In case of issues, I feel stuck at some point or the other. However, sometimes my decisions do not work. Reflecting upon these patterns of my decision making, I realize that the decision making

Response and Analysis Essay Example | Topics and Well Written Essays - 250 words - 1

Response and Analysis - Essay Example â€Å"Somewhere his family is weeping for him. His friends call for my blood. Maybe he had a girlfriend who really believed he would come back† (Collins 240). However, at the beginning of the game she thought that he is a enemy for her, that she will have to kill him to live. And after the claim that both of tributes can win the game, pace of the book suddenly speeded up. And the fight against the powerful tributes began. We can consider Catone as a negative character to be one of the tributes, despite the fact ,that he had the alliance with other experienced in killing tributes, he also didn’t have understanding of respect to the groupmates. He was cold-blooded killer and he left the Glimmer dying from the bites of insects. He didn’t want to help her, probably because she will fight with him when all other tribute will die. â€Å"Glimmer and another girl, the one from District 4, are not so lucky. They receive multiple stings before they’re even out of my view. Glimmer appears to go complete-190 ly mad, shrieking and trying to bat the wasps off with her bow, which is pointless. She calls to the others for help but, of course, no one returns.† Moreover, he was very sadistic and cruel for other tributes, even helpless and weak. He had no mercy towards the people who were less experienced. And after betrayal of Peeta, Cato has hate to everybody. â€Å"What are you still doing here?† he hisses at me. I stare uncomprehendingly as a trickle of water drips off a sting under his ear. His whole body starts sparkling as if he’s been dipped in dew. â€Å"Are you mad?† He’s prodding me with the shaft of the spear now. â€Å"Get up! Get up!† I rise, but he’s still pushing at me. What? What is going on? He shoves me away from him hard. â€Å"Run!† he screams.

Apple and samsung Essay Example | Topics and Well Written Essays - 1000 words

Apple and samsung - Essay Example Apple and Samsung companies are doing very well and they have several things in common. The objective of this writing is to compare and evaluate the two major competitor corporations, Apple and Samsung. According to Wagstaff & Kim (2012), it is undeniable that both companies are similar in terms of size though were founded in different periods. Steve Jobs and Steve Wozniak founded Apple in 1976 while Samsung was founded in 1938 by a Korean businessperson, Byung-Chull Lee. Even though Samsung started as a vegetable and fruit company, it later started back in 1969 as an electronic company. Apple’s personal computers were amongst the best but later experienced a decrease in sales after the high competition in electronics began. The company then started to produce new product iPod that largely enhanced her revenues. On the other hand, Samsung was developing slowly through introduction of various products in the market prompting it to change her mission statement to keep pace with its growing global operations, changes in the world economy as well as escalation from well-established companies. Moreover, Apple prides herself on innovation and is known for taking 8 years to develop a single product before releasing it to market. Worstall (2013) explains that Apple’s culture is to release products that are not perfect and once released, they make major updates hardly, confident that their original work is the best. This technique ensures a fascinated tech press and awed public, which compels a certain level of security as well as secrecy that segregates the company from attaining valuable market feedback prior to launch. This further raise the stakes of every product launch to the market changing and checking on any of their recent launches such as iPhone 5 and iOS7, it is nearly impossible for Apple live up to the demand for their products. Samsung however, releases a less than perfect product and iterate their way to success, which conforms, to their hi story of releasing new products that are far from perfect. The company does not make massive splash, instead the first generation product is meant to gauge interest and test capabilities since they are content to iterate their way to successful products. It is worth noting that Samsung uses less resources in product launch compared Apple although they are both at the top of the global smartphone market (Worstall, 2013). Although Samsung is a vast industrial conglomerate that manufacturers several things such as refrigerators and semiconductors, most people identifies it with smartphones, which is actually powering her growth. The company’s stunning fourth quarter results saw her profits rising to 87%. It is apparent that the phone division contributed to half of the profit and it does not break out smartphone revenues (Gupta, Kim and Levine, 2013). In 2011, Samsung sold almost 63.5 million in the quarter of which 40 million came from Samsung Galaxy S3 although the market seem to reach saturation in developed countries and the competition is high in developing countries. In the last quarter of 2011, Apple saw a remarkable profit of $13bn, which included 48 million of iPhones outpacing the Samsung Galaxy S3. Apple is even more dependent for profits for profits on smartphones compared to Samsung and Apple still takes a vast share of the mobile phone

Ethics and moral character Essay Example | Topics and Well Written Essays - 500 words

Ethics and moral character - Essay Example As a business man his primary motive was never to amass maximum profit. On the other hand, he held that â€Å"it is the function of business to produce for consumption and not for money and speculation† (Johannes 7). Thus, he was never moved by the money motive and he brought about revolutionary changes in the twentieth century American industrial culture through such radical measures as the introduction of high wages, lower prices and increased buying power. One of the distinguishing characteristics of Ford’s business ethics was his strong belief that business should not be solely aimed at making profit. On the other hand, he held that one should maintain business ethics in all his/her enterprises keeping in mind the demands and needs of individuals and society. Once Henry Ford himself stated that â€Å"for a long time people believed that the only purpose of industry is to make a profit. They are wrong. Its purpose is to serve the general welfare† (Ciulla 31). Similarly, good business leaders should not be egocentric; they should not be moved by ego but by reason. Henry Ford was a genuine and brilliant leader who was never overtly flattered by success but who always welcomed legitimate contributions from others.

Training and Development (7) Assignment Example | Topics and Well Written Essays - 750 words

Training and Development (7) - Assignment Example The career development model would set specific target for employees, and therefore employees may be eager to achieve their targets as fast as possible. In order to gain better career achievements, employees necessarily need to develop improved skills and capabilities. Hence, effective career management would encourage employees to actively participate in development activities. In short, career development model would greatly assist organizations to implement their training programs and development activities successfully. Benefits of Career Development to Companies Generally, companies are very interested in helping employees to plan their career because this strategy benefits firms to achieve their short term as well as long term objectives successfully. As discussed earlier, the career development model would assist companies to keep its employees motivated (career motivation) and this situation in turn may assist organizations to reduce issues like absenteeism and staff turnover to a great extent. As Lindner (1998) points out, motivated employees would be more productive relative to others and hence an organization can improve its profitability by helping employees plan their career. Another benefit of this policy is that it would assist companies to minimize worksite conflicts to a large extent, because motivated employees will always try to contribute to team efforts. However, companies also face some challenges while helping employees to plan their career. First, organizations need to raise additional funds to finance the career development program. Secondly, a firm’s top management has to spend a considerable amount of time to operate the career development model. Components of Career Motivation Career resilience, career insight, and career identity are the three components of career motivation. Career resilience can be simply defined as the extent to which employees are capable of managing the problems that affect the efficiency of their work. â€Å"Career insight involves (1) how much employees know about their interests and their skill strengths and weaknesses and (2) their awareness of how these perceptions relate to their career goals† (Chapter 11). Finally, career identity refers to the extent to which employees are able to define their personal values in accordance with their nature of work. Career resilience is identified to be the most important component of career motivation whereas career insight appears to be the least important component. The level of career resilience is an important determinant of an employee’s commitment to the company. Hence, an employee with high level of career resilience can easily deal with his/her worksite problems and thereby contribute to the firm’s overall productivity. In contrast, an employee’s career insight does not directly influence the company’s operational efficiency as this component specifically relates to the employee’s career go als. Psychological Contract A psychological contract can be defined as â€Å"the expectations that employers and employees have about each other† (Chapter 11). The psychological contract reflects the view that the organization would provide long term employment and development opportunities to its employees if they stay with the company and maintain high level job performance. Pay increases and promotion may be the major

Riesman, how does the rise of bureaucratic Essay

Riesman, how does the rise of bureaucratic - Essay Example The â€Å"inner directed† domain of individuality loses primacy when personal values are compromised for the sake of gratifying other people. In a bureaucratic type of environment, social acceptance is deemed to be very significant. Moreover, in a mass society dominated by the attitude of following trends and fashion, the â€Å"other directed† features rule out the â€Å"inner directed†. The transition occurs whenever an individual becomes aware of the relevance of coping up with the changing times. The moment an individual learns to filter out messages from the social environment and to process these messages to something that would be beneficial for the self, then the shift from the â€Å"inner directed† to the â€Å"other directed† takes place. In simpler terms, â€Å"inner directed† character denotes individuality or independent thinking whereas â€Å"outer directed† means cooperation and the likelihood to compromise, which is the fundamental attitude requirement of advance capitalism (Kivisto 1998: p. 112). Riesman further asserts that the shift in the social character was brought about by the transition of the society. He had delineated three stages of this societal transformation: the traditional, the inner directed and the outer directed. For him, the traditional stage is the best form of social character because it has the potentiality to develop in a high degree (p. 112). In these levels of social development, Riesman integrated the concept of the old and the new middle class. The old middle class that thrived in the traditional stage were the feudal lords and other individuals from an aristocratic blood. The new middle class that arose in the contemporary period are the entrepreneurs who are driven not by competition but cooperation. These two middle classes that existed from different times were in conflict when it comes to social character. The old middle class is more inclined on

Comparing into Battle Essay Example for Free

Comparing into Battle Essay Comparing Into Battle with Spring Off, I find their poets attitudes are quite different. Grenfell who is poet of Into Battle thinks war is a glorious and noble thing, but Owens attitude is very clear and totally different from Grenfells which is that war is evil and brutal. In order to convey their own attitudes and purposes, these two poets all use different language styles and imagery. In the poem Into Battle, Grenfell uses lots of vocabulary of nature and spring as a background, these all help to show a harmony and sense which crease a peaceful tone to describe war, it is good for the reader to agree poets attitude. However, spring also is used in Spring Off, Owen makes a stark contraction between surviving in the war and new life in the spring landscape which surrounds troops. For Into battle, it uses pathetic fallacy positively to show its purpose. The sun gives him warmth, the Glowing earth gives him life, the light foot winds lend him speed etc. these descriptions all let soldiers or even readers to feel energy and power. In the last two stanzas, the poet also gives extra importance through the use of capital letters, like Destined Will is obviously some sort of supernatural force, as a kind of god or power of destiny. In the last section of this poem, there is a lot of figurative, as the burning moment and the thundering line of battle are metaphors to describe the heat and noise of the action. All these create a sense of heat and energy on the battlefield again and it matches his idea of the war. There are several powerful images in Spring Off too, which add to the strength of Owens description, such as buttercups and brambles are personified as explained above. This creates pathetic fallacy which Grenfell used as well and it strengthens the description. Moreover, the language which is used in the poem reflects the contrasts. At the beginning, descriptions all positive, words fed, carelessly slept and eased all shows soldiers movements and suggests they are relaxed and comfortable. However, Owen uses but and shorter, sharper sounds of stood still and stark blank sky to creates contrast immediately. In Spring Off, Owen uses rhetorical question to ask why the survivors don not speak of their dead comrades and talk of their glorious death and convey the massage of the poem which is that there is no glory in this war. These two poems all use natural elements in the poem to express their attitudes of war. Because of different attitudes, I can see that Spring Off is described in a negative way, and Julian writes Into Battle positively. Therefore, it makes two poems style and language and purpose all different.

Stereotypes and Prejudice Worksheet Essay Example for Free

Stereotypes and Prejudice Worksheet Essay Answer each question in 50 to 100 words related to those stereotypes. Provide citations for all the sources you use. What are the positive aspects of stereotypes, if any? I don’t feel there are positive aspects of stereotypes. Even in the rare cases of a â€Å"good† stereotype like â€Å"blondes are more fun†, to label someone before you’ve given them the chance to prove themselves is always a negative in my mind. While some people may not be offended by certain stereotypes, it is still unfair to give someone a label before gaining any knowledge of them personally. What are the negative aspects of stereotypes? The negative aspects are apparent in abundance. Some of the most obvious negative aspects are when minorities aren’t afforded the same opportunities that white Americans are given, due to racial stereotypes like â€Å"black people are lazy†. Stereotypes can also affect children. There is a common myth that some ignorant people believe in which gay parents will raise a gay child. Children can be very cruel at a young age and have stereotypes such as this passed down from their parents, which they then perpetuate against children of gay parents. Part III Answer each question in 50 to 150 words related to those stereotypes. Provide citations for all the sources you use. Define stereotypes and prejudice. What is the difference between stereotyping and prejudice? Use examples to illustrate the differences. Stereotypes involve generalizations about the typical characteristics of members of the groups. Prejudice is an irrational attitude of hostility directed against an individual, a group, a race, or their supposed characteristics. Stereotypes are different from prejudice because prejudice is to act on the stereotypes in your mind, as in to treat someone differently based on those stereotypes. An example would be for an older white woman to see a young black kid with baggy pants walking towards her and then switching the side of the street that she’s walking on. What is the relationship between stereotyping and prejudice? The relationship between stereotyping and prejudice is one of great significance. Without stereotypes there really wouldn’t be much reason for prejudice against another person, without first getting to know them. Stereotypes are so deeply embedded in our society that prejudice often happens in our country without people even recognizing that they are committing the act of prejudice. What can be done to prevent prejudice from occurring? The main thing that can be done to prevent prejudice would be for people to cast aside the stereotypes that they have been raised on. That is much easier said than done, but it is an absolute necessity in preventing prejudiced behaviors from occurring. As long as we stereotype one another, prejudices will always be around. References Schaefer, R.T. (2012). Racial and Ethnic Groups, Thirteenth edition

Financial and Strategic Evaluation of Tesco Plc

Financial and Strategic Evaluation of Tesco Plc Financial and strategic evaluation of Tesco Plc Executive Summary To understand how a business is performing, understand what might be expected in the future and determine whether the business is a risky investment. An investor, analyst, researcher or accountant needs to understand the strategy of a business and how they plan to achieve this. The capital structure of a business can determine whether the company has enough finance in order to achieve targets and investments, determining certain risks involved and level of return required. This report looks at the level of gearing Tesco has whether financed by debt or equity, going on to look at the weighted average cost of capital. Investment is also important as investors expect, and the company looks to achieve growth. With Tesco this report looks at both future and past investments, analysing the non financial and financial benefits from them. Dividend policy and yields are analysed looking into theory behind them. Tesco shares are analysed using valuation techniques, looking at what may be the reason for Tescos success through the recession, helping them stabilise share price after the peak of recession despite some contractual and ethical issues. Finally looking into how the international market has benefited Tesco by non financial means. An overview of a few strategic issues Tesco has faced over the years is provided, looking into some of the challenges and results of these issues. Problems such as competition, international expansion and contract disputes are shown in detail later in the report. 1.0 Introduction Tescos overall strategy is growth, which has helped strengthen their core business within the UK, (Tesco, 2010). Tesco plan to achieve this strategy through diversifying their product range away from food and to include financial, non financial and telecommunication services/products also by penetrating new markets globally. This report evaluates Tesco, analysing their capital structure and the level of debt discussing how this can influences the company value and investing decisions, looking at how past investments and future investments are beneficial for Tesco. Dividend policies are related to theory and share prices are questioned using different valuation techniques available to any investor. Going on to look at survival through the recession looking at different strategic issues they have faced over the years. 2.0 Capital Structure and Finance agreement Figures above referenced from FAME database, show for expansion of its business Tesco Plc increased gearing from 51.58% to 91.38% within years 2000 and 2003. Increasing debt can be a cheaper less risky option as cost of debt is lower than equity and increasing levels of debt can reduce the weighted average cost of capital. By reducing weighted average cost of capital, company value can be increased and therefore shareholder wealth is increased. WACC can be used against cash flows in order to determine the net present value of a project. Tesco probably used this as a means to decide which investments are beneficial. After this period global financial crisis began to hit the market, Tesco Plc reduced its gearing ratio and kept the ratio level at around 75% until 2007. This was sensible at the time due to recession risk of lower turnover levels could mean the ability to repay certain levels of debt more difficult. Having higher levels at the time would have meant financial risk, repayment risk etc, would affect interest rates on loans and increase the cost of equity as shareholders are taking a higher risk therefore require a higher rate of return. Tescos main competitors suffer the similar situation; ASDA and Sainsbury were also affected by the global financial crisis, they also reduced their gearing ratio level and keep it to relatively low level to about 35%. However, with the positive profit figure, Tesco changed its current strategy. Tesco have geared up its business rapidly from 2008, and reached 149.14% in 2009. As the figures show that Tesco had borrowed in a huge amount of debt in 2009. R ecently, a joint venture between Tesco and property firm British Land has refinanced its retail portfolio with a new 315 million pounds five-year term loan. (British Land, 2010) it is to believe that a rapid market expansion and investment will be followed. Years 2005 to 2009, sales and income figures of TESCO have steadily increased; it generated a very positive profit return for investors. With the global finance crisis continuing to affect UKs economics, the government may loosen its restriction towards TESCO; whatever happens, people need foods and basic living materials, it is a perfect moment for Tescos expansion. The high level of gearing may support Tesco to expand its business; however there is potential risk of default on loans. Can Tesco maintain its level of income, if not how can TESCO to repay the debt it borrowed? This problem could influence investor decisions. 3.0 Investment UKs largest retailer Tesco expanded into foreign markets attempting to increase future growth in the global retail industry. The company initiated its international expansion strategy by venturing into Central Europe, Asia and the US. Figure 1 shows Tesco PLC sales profits before recession had an impacted. This shows sales profits in the overseas market amounted to a fair percentage of Tescos profit figure. Comparing growth over 5 years in the UK with Asia, UK only generates a 49% increase when the Asian market increased 250%. Tesco has placed increasingly focuses on their international venture. Nearly two-thirds of the groups space is now overseas, although these markets still only account for a quarter of group turnover (Rigby, 2009). Tescos Summary Five Year Record Year ended February 2001 (m) 2002 (m) 2003 (m) 2004 (m) 2005 (m) Group Sales 22,585 25,401 28,280 33,557 37,070 Turnover excluding VAT UK 18,203 19,821 21,309 24,760 27,146 Rest of Europe 1,737 2,181 2,664 3,385 3,818 Asia 860 1,398 2,031 2,669 3,010 20,800 23,400 26,004 30,814 33,974 Philip Clarke, head of Tescos international operations, singled out South Korea, along with China. Mentioned as Tescos two most promising markets, planning to open 100 new stores in South Korea alone (Rigby, 2009). This is a wise decision due to current economics Britain has been impacted among some of the worst around the world, where China especially was not greatly affected with vast growth. Probable reasons for Tesco expanding internationally rather than nationally may be due to competition policy trying to limit Tescos growth, also there is little land space to continue building new structures, and Tesco already purchased the most profitable local convenience stores in the past. 3.1 Environmental Tesco, now 4th largest retailer in the world, have announced that it will open the first zero carbon store as part of its bid to be a carbon  ­neutral company by 2050. They stated its corporate commitment towards reducing climate change, for example halving its energy use per square foot by 2010, reuse and recycling packaging where possible (Leahy, 2009). A green example of this is where they use returnable ‘Green trays saving around 132,000 tonnes of cardboard packaging in 2007/08. Tesco plans to invest  £100m in sustainable environmental technology which is finding more practical ways to use renewable energy, such as solar and wind power, and to help develop the green technologies of the future (Tesco Media, 2010). Environmental issues are becoming increasingly important over the years. Climate change has become a huge focus for businesses. The Climate Change Act 2008 makes the UK the first country in the world to have a legally binding long-term framework to cut carbon emissions (OPSI, 2008). Government ensures that organisations are adapting and that its policies, programmes and investment decision are made in the context of climate change. By continuously making environmental changes Tesco builds reputation as a more ethical company. 3.2 Diversification On the other side of expansion, Tesco is looking to take advantage of the current mistrust towards banks following their role in the economic crisis. They had spent  £950m for purchasing 50% of Royal Bank of Scotlands share of TPF last year (This Is Money, 2008). It is also planning to expand its telecoms operation industry following the appointment of Tesco marketing director Lance Bachelor as Tesco Telecom chief executive. Tesco are going to attempt penetrate the finance market further by offering current accounts within two years and also offering mortgages for their first time. Offering credit cards, insurance and savings deals already Tesco has a huge customer base. They have a huge potential to increase turnover by selling more products to their existing customers. They plan to open branches globally not on in the United Kingdom which could be a huge challenge for the company. They need to time this investment perfectly, especially amidst the recession. They stated that it has to build the IT infrastructure which required supporting the bank system, and this project is described as a huge undertaking†. As a Tesco bank customer, you will also be able to accrue loyalty points under its Club card program (Tesco, 2008). 4.0 Shareholder Information An important factor in the eye of an investor is predicting the future. Shareholders are interested in company performance, both long and short term. They are also interested in the companys investment not only to expect growth but so they are able to assume levels of retained earnings and cash flows. This allows shareholders to make estimations on dividend payout, the only form of cash flows a shareholder receives and predict any growth on share price. 4.1 Dividend Policy Tesco pay cash dividends as interim and final year. The dividend is steadily increasing even through the Recession. Annual Dividends per share has increased 26.48% from 8.91p in 2007 to 11.27p in 2009 (Tesco, 2007-9). The company pay a fairly low dividend with a yield averaging 2.43% from 2007-09. Low yields can lead to possible patterns of high growth unlike high yields resulting in sharp falls (Arnold, 2008). Steady dividend payments and low dividend yield targets higher earners and those on looking for long term investment. Cash in the business is expected to be invested in projects with positive net present values as investors are looking for capital gains. This suits Tesco as one of the reasons for a lower yield and dividend is due to large investments in expanding and making the company more diverse. 4.2 Share Price Capture.PNGShares are hard to say what influences price, there are many factors which can all influence share price such as earnings per share and price earnings multiple. News can have affects such as bad press can decrease share price, disputes or contractual issues etc. Other areas may be dividends, although according to Modigliani and Miller theory whatever dividend policy is used, firms which pay more dividends offer less price appreciation and pay the same shareholder return, according to cash flows from investments and risk measurements (Arnold, 2008). This theory provides proof given assumptions of no tax, investment decisions are not affected by dividends and there are no transaction costs converting price into cash when selling stock. In the current economic position this theory would most likely be irrelevant as there are always taxes upon a business. Transaction costs would almost always apply therefore this theory has its limitations. If dividends were irrelevant, the business may be wasting time analysing which shareholder are indifferent (MM Theory, 1961). As market leader for United Kingdom Tesco has shown stability during the crisis. Share price over the peak of the recession until recently has remained more stable for Tesco than competitor Sainsbury. Sainsbury had been affected severely between August and November 2007 as Delta Two pulled out in belief Sainsburys did not have enough capital to maintain competitiveness (Birmingham Post, 2007). This was a high in the recession. Financial markets began to stop trading between each other and there was the near collapse of Northern rock, (Telegraph, 2009). The Sector was hit hardest in years however Tesco has begun to make its recovery with share price increasing unlike Sainsbury who only managed to stabilise over the last year. 4.3 Valuation Capture7.PNGInvestors may use share valuation techniques to determine whether shares are over or under value. Dividend yield valuation shows share price was fairly valued in 2007 but undervalued in 2008 and overvalued for 2009. This is calculated by dividing share price by the yield seen in Figure 3. Dividend yield was based upon Annual Dividend/ Share price. This valuation method can be affected by the level of dividend especially if the company is going to invest, which Tesco has made some huge investments purchasing 50% of RBS. This could be the reason why value is currently low here, whereas real value accounts for all affects. klll.PNGThe final method for this report is Price Earnings Valuation. Multiplying earnings per share by the P/E multiple. A higher P/E multiple indicates the price of stock is more than a lower P/E. In Figure 4 P/E*EPS shows similar results as using the dividend yield however P/E over the past 3 years has been decreasing, which shows investors are not willing to pay as much for a stock than previously. Tesco shares have remained strong, recovering after a downfall in peak of recession. Share valuation techniques however have shown share value may be overvalued in 2009. There seemed to be a recovery but using P/E and Dividend yield valuation, which provided a comparable result share value should be lower. This may mean it is safe to sell shares in Tesco now as price may fall. Dividend payment however suggest chance of expected growth in the future but looking at long term trends there have not been any dramatic changes in dividend payment or yields. 5.0 Surviving the Recession Researchers and Accountants believe Tesco was the number one company to survive the recession in the research survivability index. The information considered for this was not just cost cutting but based upon factors such as; branding, cost management, internet potential and customer targeting, (Ruddick, 2008). For instance, Tesco replaced a lot of high brand products with Tesco value products, which sell for less however attract more customers generating higher turnover, this helped reduce costs related to more expensive products. Other cost savings are through better use of IT, and from policies and management of suppliers to ensure the greatest value to the business and customer (Business, 2009). Tesco club card points and vouchers have been a huge impact for customer targeting, by offering double club card points many customers who arent regular shoppers become regulars. Tesco also monitor their customers far more intensely than other supermarkets. They analyse buying patterns and send vouchers in the post to attract customers back, or when customers have not returned for a while they send vouchers to entice them. 6.0 Competition Severe rivalry within the UK retail market is forcing cost cuts and ways news ways that they can differentiate themselves from competitors. The retail market is mature and oligopolistic in its nature, with a few major multiple retailers dominating the market (Business, 2009). Competition between the large retailers resulted in price wars with the big two, Asda and Tesco reducing price margins for the industry as a whole as other competitors have to react according to the market. The market is well regulated. The monopolies and mergers commission constantly examines the market to ensure fair competition. The government has also been active in planning restrictions for new store openings (BBC, 2004). Growth appears to come from gaining new customers, improving product offerings, and from non food products, such as financial services. In Tescos case they have expanded overseas as well as diversifying their product range. Customers are still number one in the eye of the retailers. Success in the industry is still dependent on how well the retailer can meet the customer needs. Price, particularly in the UK has become a dominant feature. Considering the recession, this will places stress on retailers to set low prices and maintain that level. The main reason being consumers are tightening their spending level and are not willing purchase luxury items and are purchasing the necessities. 7.0 Bad Credibility Tesco were faced with a big contractual issue back in 2007. Tesco delivery drivers were offered new contracts, which had worse conditions and around 3000 to 6000 pounds less pay. This resulted in drivers going on a 3day strike, causing problems for Tesco when shoppers refused to shop in their stores and many drivers rejected the new contracts which resulted in Tesco terminating their positions (BBC, 2007). This issue meant Tesco had to spend a lot of time and money with unions, whilst losing sales from shoppers refusing to shop with them and deliveries not being made. Although this issue was only in one area, the businesses image would have been damaged by news and publicity on the matter. The competition commission has started to realise that the bigger the retailer they have a stronger capability to force prices lower from suppliers. Described as a â€Å"master servant† relationship farmers complain about Tescos cancelling orders at last minute and forcing cost lower than production cost (Hird, 2005). In extreme cases farmers have protested especially over milk prices (Mullin 2009). This shows Tesco has done little to improve their relationship with farmers over the years. It could be assumed that government may begin to intervene soon as Tesco becomes more unethical. Issues like this make people lose trust, they are unsure if in the future more problems will arise. When looking at investing you must trust a company making sure they are reliable and able to give you what you want from them. Other investors who catch news of problems tend to back out and sell stock. If enough people sell share price will begin to fall, this may be an opportunity to purchase shares at a lower price as long as you accept the risks. 8.0 Environmental Issues One big issue that Tesco is facing is the environment element; as the increasing global concern of environmental problem, how Tesco react to this issue will have huge impact to its future business performance. The public demands more than ever that films should take their responsibility as a member of the society. Tesco has taken a lot of effort to respond the challenge; in 2007, Tesco unveiled its green pledges; â€Å"If we fail to mitigate climate change, the environmental, social and economic consequences will be stark and severe† Sir Terry Leahy, Tesco chief executive. (BBC news, 2007) In the statement, he promised that Tesco would cut emissions from existing stores worldwide by at least 50% by 2020, and would seek to restrict air transport to less than 1% of the firms products. Moreover, for cutting CO2 and energy saving, Tesco also introduce a series of strategy; by encourage customers to use reusable carry bag and reward shopping points to club members to reduce the usa ge of plastic bags; Tesco also introduce new energy saving store to the public; in January 2009, Tesco opened UKs most energy efficient store in Cheetham Hill. As part of the climate change program, the stores carbon footprint is 70% less than an equivalent store built in 2006. (Tesco, 2009) So far, Tesco has already made a lot of progress, yet there are much more problems waiting. 9.0 Overseas Tescos expansion internationally has not only benefited the company financial. They would develop new understandings and learn new techniques have diverse teams within the organisation. Tesco successfully penetrated the overseas market, being able to adapt to new cultures. To do this they would need incredible management with a perfect strategy. On the Tesco website they take a different approach internationally, strategy changes and their main focus is more of a cultural issue. For instance being â€Å"Flexible† as in Japan they shop in small amounts but prefer fresh items, also â€Å"Act local† such as in India, who prefer less or no packaging so they can go through piles of produce. With 10 years of experience Tesco has wide experience of cultures (Tesco, 2009). Culture isnt only going to affect Tesco through the market i.e. selling, but will be a part of the business. Tesco employees local staff this affects the organisations culture, especially within head offices and management. Teams will include people from all different ethnic backgrounds growing up to have different culture, educated with a diverse range of skills. Having this within a business can be very successful and can create more effective team working (Brooks, 2006). 10.0 Conclusion Tesco on a financial level has a lot of risk involved. They are currently very highly geared and have a huge financial risk which can and most likely will affect the company value and share holder wealth. However over the next 2 years could be a crucial time for Tesco as their investments go under way which could result in a very prosperous future for shareholders through diversification and international expansion. A lot of risk relies on customer targeting, which in the past Tesco has been very successful. Dividend yields and dividend payments seem to be targeting high earners who can face risk and are looking for long term capital gains; however share price for 2009 seems to be overvalued and may decrease. It may be safer to sell shares now and buy again after share price falls. Tesco has had a lot of success and faced many different strategic issues, some which could result in a stronger business such as cultural diversification within the company. A lot of issues have occurred though, damaging the image as a result. Little seems to have been done to improve some of these problems especially with farmers. Tesco only seems to care if regulation intervenes, then they will do something about it which could be seen with some of the environmental problems. As a result of the analysis provided throughout the report Tesco seem like an opportunity for those who are willing to take high risks. References Arnold, G. (2008) Corporate Financial Management. 4th edition. London, Pitman Publishing. BBC. 2004. Tesco sees profits jump to  £822m: New stores. [Online] BBC News. Available at: http://news.bbc.co.uk/1/hi/business/3675164.stm [Accessed 20/3/2010]. BBC News, 2007. Tesco boss unveils green pledges [Online]. BBC News. Available at: http://news.bbc.co.uk/1/hi/6276351.stm [Assessed 24/3/2010]. BBC News. 2007. Tesco dispute enters second day. [Online] Available at: http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/6690475.stm [Accessed 20/3/2010]. BIRMINGHAM POST. 2007. Sainsbury shares plummet as Delta Two pulls out. [Online] Available at: http://www.highbeam.com/doc/1G1-170795697.html [Accessed 18/3/2010]. BRITISH LAND. 2010. Press release. [Online] British land. Available at: http://www.britishland.com/media/pressreleases/pressrelease130110 [Accessed 15/3/2010]. BROOKS, I. 2006. Organisational Behaviour: Individuals, groups and organisations. 3rd edition. Pearson Education. BUSINESS, T. 2009. Challenges and outlook for the Tesco Stores Ltd. [Online] Available at: http://www.businessteacher.org.uk/business-resources/case-study-database/tesco-case-study/ [Accessed 20/3/2010]. FAME, database. 2010. Detailed information on Tesco Plc. [Online] Available at: https://fame.bvdep.com/version2010226/cgi/template.dll?checkathens=1kick=1product=1user=n0242395%40ntu.ac.ukpw=nK9CXV0V3ZRxfmNkkx9ZjA%3d%3d [Accessed 23/3/2010]. HIRD, H and BURLEY, H. 2005. The Tesco Takeover. [Online] Available at: http://www.foe.co.uk/resource/marketing_material/tesco_takeover_leaflet.pdf [Accessed 20/3/2010]. LANGFELD, M, 2009. Tesco: Consistent Earnings Growth at Attractive Price, [online]. Available at: http://seekingalpha.com/article/159992-tesco-consistent-earnings-growth-at-attractive-price [Accessed 18/3/2010]. LEAHY, T. 2009. Press releases: SCI Conference. [Online] Available at: http://www.tescoplc.com/plc/media/pr/pr2009/2009-10-16/ [Accessed 18/3/2010]. MM Theory, 1961. When Are Dividends Irrelevant? (The Miller Modigliani Proposition). [Online] Available at: http://pages.stern.nyu.edu/~adamodar/New_Home_Page/invfables/dividirrelevance.htm [Accessed 19/3/2010]. MULLIN, D. 2009. Farmers protest at Tesco over milk price. [Online] Available at: http://www.farmersjournal.ie/myJournal/forum/content/farmers-protest-tesco-over-milk-price [Accessed 20/3/2010]. OPSI. 2008. Climate Change Act 2008. [Online] Available at: http://opsi.gov.uk/acts/acts2008/ukpga_20080027_en_1 [Accessed 16/3/2010]. RIGBY, E. 2009. Tesco trumpets strategic success overseas. [Online] Available at: http://www.ft.com/cms/s/0/7b824f06-2b88-11de-b806-00144feabdc0.html [Accessed 20/3/2010]. RUDDICK, G. 2008. Tesco: most likely retailer to survive recession. [Online] Available at: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/3368164/Tesco-most-likely-retailer-to-survive-recession.html [Accessed 18/3/2010]. TELEGRAPH. 2009. UK Recession: Timeline of how the British economy has been hit. [Online] Available at: http://www.telegraph.co.uk/finance/financetopics/recession/4320827/UK-Recession-Timeline-of-how-the-British-economy-has-been-hit.html [Accessed 19/3/2010]. TESCO. 2007. Press release. [Online] TESCO plc. Available at: http://www.tescoplc.com/plc/media/pr/pr2009/2009-01-13b/ [Assessed 24/3/2010]. TESCO. 2007-9. Tesco: Annual Report 2007/8 2008/9. [Online] Available at: http://www.tescoplc.com/annualreport09/downloads/ [Accessed 17/3/2010]. TESCO. 2008. Tesco takes full ownership of Tesco personal finance and targets  £1 billion from retailing services. [Online] Available at: http://www.tescoplc.com/plc/storage/intannounce.pdf [Accessed 18/3/2010]. TESCO plc. 2009. International Strategy. [Online] Available at: http://www.tescoplc.com/plc/about_us/strategy/international/ [Accessed 19/3/2010]. TESCO. 2010. Our Strategy. [Online] Available at: http://www.tescoplc.com/plc/about_us/strategy/ [Accessed 19/3/2009]. TESCO, Media. 2010. Press releases: Tesco in  £100m to boost UK green economy. [Online] Available at: http://www.tescoplc.com/plc/media/pr/pr2010/2010-02-03/ [Accessed 18/3/2010]. THIS IS MONEY. 2008. Tesco takes on banks after RBS buyout. [Online] Available at: http://www.thisismoney.co.uk/markets/article.html?in_article_id=448364in_page_id=3 [Accessed 18/3/2010].

The 5th Amendment Essay -- essays research papers

The 5th Amendment Basically, the 5th Amendment states that no one shall be charged with capital crimes without a Grand Jury's permission, except in cases regarding the military while under service in wartime or public danger. No one can be put on trial again for the same crime. You can't be forced to testify yourself. That no one should be executed, jailed, or have property seized without a legal precedent. Also you can't be put through cruel or unusually punishment. If private property is seized for public use, that the owner must be compensated for their losses fairly. It also forbids deprivation of life, liberty, or property without Due Process of the law. The 5th Amendment is also often cited as the Double Jeopardy Amendment. The Constitution does not say that individuals can't be put on trail again for the same offense. The Constitution says that should he defendant be tried again on the same charge or charges, that they can't be executed or imprisoned for life without the possibility of parole. The 5th Amendment is also sometimes called the "Take the Fifth" Amendment. It states that no defendant can be forced to testify against themselves in a criminal case. When under oath, you are expected to tell the truth, even if that truth was to put you in trouble. Taking the fifth a...

The Presentation of Education in Hard Times by Charles Dickens Essay ex

Examine the presentation of Education, chapters 1 to 4 in Hard Times by Charles Dickens Charles Dickens wanted to attack the failings of education and the wrong-headedness of the prevailing philosophy in education. He believed that many schools discouraged the development of the children’s imaginations, training them as â€Å"little parrots and small calculating machines† (Dickens used this phrase in a lecture he gave in 1857). Nor did Dickens approve of the recently instituted teacher training colleges. These had been set up in the 1840s, after the British government acknowledged the need to raise the standard of education in schools. The first graduates of these training colleges began teaching in 1853, a year before the publication of Hard Times. M’Choakumchild, the teacher in Gradgrind’s school (which was a non fee-paying school that catered to the lower classes), is Dickens’s portrait of one of these newly trained teachers. Many educators agreed through time-sharing Dickens’s view of what were wrong with the schools. They believed there was too much emphasis on cramming the children full of facts and figures, and not enough attention given to other aspects of their development, for example â€Å"'NOW, what I want is, Facts. Teach these boys and girls nothing but Facts. Facts alone are wanted in life. Plant nothing else, and root out everything else. You can only form the minds of reasoning animals upon Facts: nothing else will ever be of any service to them. This is the principle on which I bring up my own children, and this is the principle on which I bring up these children. Stick to Facts, sir!'† Dickens chooses to begin the novel in the classroom, which he depicts as a microcosm of the inhuman world ou... ...e in the moon; it was up in the moon before it could speak distinctly. No little Gradgrind had ever learnt the silly jingle, Twinkle, twinkle, little star; how I wonder what you are! No little Gradgrind had ever known wonder on the subject, each little Gradgrind having at five years old dissected the Great Bear like a Professor Owen, and driven Charles's Wain like a locomotive engine-driver. No little Gradgrind had ever associated a cow in a field with that famous cow with the crumpled horn who tossed the dog who worried the cat who killed the rat who ate the malt, or with that yet more famous cow who swallowed Tom Thumb: it had never heard of those celebrities, and had only been introduced to a cow as a graminivorous ruminating quadruped with several stomachs.† This shows a bit more about Gradgrind's views on education and the way he raises his children.

Stress, The Double-Edged Sword Essay -- Biology Essays Research Papers

Stress, The Double-Edged Sword Stress, it is a part of our life that we can't not avoid or escape. There probably isn't anyone in the world today that hasn't dealt with it. It dwells in the work place, at school, in the home and most importantly, in you. So what is stress? And why do we have something that does us so much harm? Simply put, stress is an adaptive response, your body's response to an emotionally disturbing, disquieting or threatening event (1). Often times, it is the tension caused when demands from work, family and oneself can't not be met. Not to say stress is a recent disorder among humans, in fact, all organisms experience it. Stress is a part of the 'fight or flight' response, usually the result of threatening or worrisome event. The body increases the heart rate, blood pressure and respiration rate, preparing in the event of actually needing to fight or retreat (1). For most animals, stress tends to come from acting out of self-preservation. The fleeing rabbit experiences stress as it bolts for the safety of its hole. In fact, without it, the rabbit might not survive. The surge of energy from the stress of spotting an attacking predatory might be the difference between safety and death. Early humans probably experienced stress in similar fashions. The attacking lion is a stressor enough to make the fleeing caveman run a bit faster, or fight back with more force. But unlike animals, humans experience stress another fashion, it is the stress that comes with thinking, whether it's about the future or the present. The caveman might have been stressed when the angry bear came charging up but he might also hav e stressed over an unsuccessful hunt and the prospect of having no food for several days. The s... ....coolware.com/health/medical_reporter/stress.html 2) Stress Free Net, http://www.stressfree.com/stress.html 3) Endocrinology and Stress-Related Disease , http://www.endo-society.org/pubaffai/factshee/stressrd.htm 4) How to Survive Unbearable Stress, Information on stress in easy to understand terms http://www.teachhealth.com/#stressscale 5) ABC News.com , Report on how stress may add to aging http://www.abcnews.go.com/sections/living/DailyNews/stress_aging990920.html 6) Development of the Cerebral Cortex: Stress and Brain , http://info.med.yale.edu/chldstdy/plomdevelop/development/January99.html 7) Doctor's Guide: Global Edition , http://www.pslgroup.com/dg/67e66.htm 8) Psycheducation.org, http://www.pslgroup.com/dg/67e66.htm 9) Getting There: Dealing with Stress , http://www.campuslife.utoronto.ca/handbook/06005-Stress.html

Assignment community service Essay

RODUCTION This course is designed to instil students’ awareness on social responsibility and care for society. From this assignment i have to identify five types of community service activities for each five category. It is orphanage, urban poor, orang asli, wellness and environment. I have made some research from the internet about this five category. Besides, I have to find the objective and important in community service. In this assignment, I also have to find out about corporate service responsibility. What is corporate service responsibility? I also have to find the different between corporate service responsibility and community service. After done discuss about the community service and corporate service responsibility, I have to related the community service with mine students life. In that I have found the important about community service. Community service is a good subject that every student has to learn. CATEGORY 1: ORPHANAGE An orphanage is a place where children who do not have guardians who are capable of caring for them live. Some orphanages employed professionals like nurses, teachers, and other people involved in raising children in order to care for the children entirely within the orphanage. They give the children basic necessities like food and shelter and take care of education and other issues elsewhere. A child might be sent to an orphanage due to the death of the children’s parents, or the parents may be alive but unwilling or unable to care for the child. Most orphanages work to place children in more  traditional family environments, as these are seen as more secure and desirable than living in an orphanage. Some orphanages are separated by gender, but many care for children of both genders. Normally, the orphanage building will include many aspects that might be found in a house. Rooms for the children sleep, a kitchen, and other related rooms are all likely to be found in an orph anage. If the orphanage also functions as a school, then a schoolroom is important as well. While orphanages have the care of children as their primary responsibility, getting those children adopted is also a major function of these institutions. Working to get children placed in homes not only gives the children a chance at a better life, but also frees up room in orphanages for other orphans. For this reason, it is important for orphanages to try to keep children healthy, happy, and well-socialized, because a child who exhibits these features is much more likely to be adopted than one who does not. Picture 1.0: Sekreteriat Rakan Muda KUIS visited Rumah Penyayang Sg. Buaya, Banting.1 CATEGORY 2: URBAN POOR Urban poor refers to individuals or families in urban areas with incomes below the poverty line as defined by the National Statistical Coordinating Board(NSCB). They are the underprivileged or homeless sector of society like the unemployed, underemployed and the irregularly employed, or who are incapable of meeting the minimum basic needs, and who live in poor area, squatter and resettlement areas, sidewalks, dumpsites, road right-of-way, unoccupied government or private lands or along danger zones like railroad tracks, riverbanks, high tension wires, or other places in urban areas. The urban Poor are integral part of society and are partners in urbanization and industrialization. They help turn the cycle of economy because they are the factory workers, rank and file government and private employees, soldiers, lowly paid policemen drivers, vendors, house help and waiters. They are also the biggest market of industry. They are source of political power. It is because when they exercis e their right to elect local provincial, regional and national officials. Picture 2.0: Urban Poor situation in Malaysia.2 CATEGORY 3: ORANG ASLI Orang Asli is the collective term for the 19 sub-groups of `first peoples’ in Peninsular Malaysia. Orang Asli are largely forest or agriculture based. On the contra, Orang Asli communities, especially in Southern Peninsular Malaysia, were well established before the reign of the Malay Sultans. Orang Laut groups even provided crucial military and economic support during the formation of the Johor and Malacca Sultanates. That the Orang Asli was part of the emerging Malay states can also be gleaned from the customary practices in some states. However, once politically autonomous and independent people are likeness of their ancestors. Much of this has to do with the fact that the Malaysian nation state does not recognize the Orang Asli as a separate people, that is as distinct groups associated with particular territorial bases and requiring `government’ on a different basis from that of the other communities. Picture 3.0: some NGO organization visiting the Orang Asli village, Perak.3 CATEGORY 4: WELLNESS The world health organization defines wellness as â€Å"a state of complete physical, mental and social well-being, not merely the absence of disease or infirmity†. Wellness encompasses a number of these dimensions including physical, social, psychological, spiritual and informational. Wellness is about ensuring that each of these dimensions is in balance. It takes more than physical exercise to maintain good health. Balance is the key to leading a healthy lifestyle. Wellness is the dynamic process of becoming aware of, taking responsibility for and making choices that directly contribute to one’s well-being and that of the common good. It is the integration of body, mind and spirit and the on-going development of one’s own meaning in life. Wellness also knows as an active process of becoming aware of and making choices toward a more successful existence. The key words in these first sentences are process, aware, choice, and success. Process means that we never a rrive at a point where there is no possibility of improving. Aware means that we are by our nature continuously seeking  more information about how we can improve. Choice means that we have considered a variety of options and select those that seem to be in our best interest. Success is determined by each individual to be their personal 4collection of accomplishments for their life. Picture 4.0: The milo Malaysia breakfast run 20141 CATEGORY 5: ENVIRONMENT The environment is gift of god precious to the welfare of life. Many people depend on the natural resources on this earth. Allah has create the universe and balanced for human prosperity. Extensive land turned into human dwellings, mountains as cookers earth, plants as a source of food and medicine to life, so has the variety of animal and plant life in the oceans. Unpolluted environment provides us with a comfortable and relaxing atmosphere. In addition to providing comfort to the people, it is also to some extent be affected by the activities of national development if the environment in the country is maintained. Nowadays, many people are aware of the importance of nature to human. They have made such as recycling campaign with the slogan says â€Å"thinks first before the throw†. Besides, earth hours to reduce the global warming of the earth. Picture 5.0: cutting newspaper from Cosmo, 26 December 2011, page 16. 5 ARTICLE RELATED TO CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (â€Å"CSR†) – A Brief Overview IN THIS ARTICLE, AARON GERARD SANKAR AND YONG SHEUE LIH DISCUSS THE IMPORTANCE AND BENEFITS OF CSR IN A GLOBALISED ECONOMY. CSR programmes and initiatives have clearly been on the rise and these seem to accord with increasing public expectation of such activities being undertaken by companies. This article attempts to outline the potential benefits and to underscore the importance of CSR in the globalised economy. What is CSR? There are many different perceptions of what CSR encompasses and likewise, there have been many attempts to define this concept. The definitions attributed to CSR generally describe it as a concept where corporations  voluntarily integrate social and environmental concerns in carrying out their business. Locally, from the perspective of Bursa Malaysia Securities Berhad (â€Å"Bursa†), CSR is viewed as â€Å"†¦open and transparent business practices that are based on ethical values and respect for the community, employees, the environment, shareholders and other stakeholders†¦ designed to deliver sustainable value to the society at large.† Thus, under the concept of CSR, it is anticipated that a corporation incorporates socially responsible behaviour in the conduct of their business operations, which goes beyond mere compliance with or fulfilment of applicable legal and regulatory requirements. This is done by placing a degree of emphasis on practices that ta ke into account the interests of its â€Å"stakeholders†1. By implementing CSR practices, the corporation would balance the larger and general interest of its other stakeholders with the financial interest of its shareholders6. WHAT IS THE DEFINITION OF COMMUNITY SERVICE? Community service refers to service that a person performs for the benefit of his or her local community. It also knows as voluntary work that is done for free in order to help people or give back to the community. It is also unpaid work that an offender is required to do instead of going to prison so in this case it is involuntary. It also a group within a municipality or government. The community has closer relations with each other than with the rest of the surrounding inhabitants. WHAT IS THE DEFINITION OF CORPORATE SOCIAL RESPONSIBILITY? Corporate social responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. Corporate service responsibility is generally understood and interactions with their stakeholders. Generally it understand as being the way through which a company achieves a balance of economic, environmental and social imperatives, while at the same time addressing the expectations of shareholders. In this sense it is important to draw a distinction between Corporate Service Responsibility, which can be a strategic business management concept and charity, sponsorships. Even though the latter can also make a valuable contribution to poverty reduction, will directly enhances the reputation of a company and strengthen  its brand, the concepts of Corporate Service Responsibility clearly goes beyond that. WHAT IS DIFFERENT BETWEEN COMMUNITY SERVICE AND CORPORATE SERVICE RESPONSIBILITY? Difference between community service and corporate service is in the community. Community service mostly from among student who become a volunteer to a program. While corporate service responsibility is to provide sponsorship or assistance through the company money to develop their companies. For example, give sponsorship to student who wishes to continue their studies abroad while promoting their company. Community service most them from clubs in the university or have create event for subject community service. EXPLAIN AND ELABORATE HOW DO YOU RELATES COMMUNITY SERVICE WITH YOUTH? I serve the local community for teaching me about life retires. How we help others in distress. Other than that we can tasted the fate of the others are more difficult than ours. Examples such as orphans, they do not have parents but to continue their lives with courage. For me it was a lot of trouble to teach retires life. Remembrance of his deep distress that is what we are about feelings to appreciate. Community service also teaches us to become a chairman who triumphed. How do we go through all the allegations before succeeding achieve greatness. In addition, adolescent or student be encouraged to follow his deep community service by young and they are stronger than the old ones. Community service may also foster a spirit of mutual help among adolescents over his deep doubts about the people who are more difficult. CLOSING In conclusion, what I have learnt is about what is community service and corporate service responsibility. What is different between community service and corporate service? Besides, I learn about awareness on social responsibility and care for society. Each person in this earth has their own responsibility to the society. We can define what type that we should alert to help the society. As we know they have five categories that we have learnt. First orphanage, urban poor, orang asli, wellness, and environment. In addition, we can learn more about community service. APPENDICES http://answers.ask.com/Education/Other/what_is_the_definition_of_community http://www.ask.com/question/what-is-the-definition-of-community-service http://www.trinityvalleyschool.org/uploaded/community_service/brochure_and_contract.pdf http://webcache.googleusercontent.com/search?q=cache:http://www.oliviaappeal.com/Wellness/What-Is-Wellness.aspx http://www.miami.edu/sa/index.php/wellness_center/WellnessAboutUs/what_is_wellness/ http://webcache.googleusercontent.com/search?q=cache:http://www.unido.org/en/what-we-do/trade/csr/what-is-csr.html http://www.pcup.gov.ph/html/factsfigures/TheUrbanPoor.html http://www.culturalsurvival.org/publications/cultural-survival-quarterly/malaysia/orang-asli-self-determination-and-control-resource http://www.wisegeek.com/what-is-an-orphanage.htm

Marketing scenario Essay

IntroductionPositioned as an premium purporting foc affaird to utmost overall cost to end users by superior overall performance.Leader in prime(a) , performance and technological d professstairsstructure ingathering linesCarton sealing and industrial tapelinesSpecialized adhesivesOther packaging produceionsK2 tape Manufactured using patented applied science and a note name for squash light- handsome carton sealing tapeVery high tensile cogency and sheer resistancePositioning postgraduate PriceK2 ProductsLow Quality proud QualityIpackTensile untested ProductLow PriceProblem bidding K2 tape contendd against inferior prudence tramp harvest-tides in carton sealing part IPACK stretch outed 25-35% lesser price Revenue of K2- $68.6 jillion IPACK $28.5 million in 2012 Tensile a new competitor had $2.7 million one dollar bill sale with one gross sales interpreterShould PST stay with high quality product or enter the economy strike out segment ? excerpt 1 calcula te the economy kindsegment on a lower floor the same stigmatizePROSAccess to the economy segmentDefend market allot against competitionDiversification of product portfolioCONSDilution of the strike out soma as a producer oftechnological superior productCannibalization of its own product offeringCluttered product lineOption 2 preface the economy grade segmentunder different brandImplications forPROSCONSCustomer cleverness to fulfill need of price sensitive guests Possibility of change in acquaintance ofbeing a quality drawing cardDistributor Possibility to offer a low end PSTproduct so far wider product range Limitedsales force sales Force billet leader to offer more variety in terms ofprice levels More trend to explain productdifferencesBrand No positive tinct Negative bear upon on brand imageOption 2 Stay with high-quality productsImplications forPROSCONSCustomer Maintaining image of qualityLeader Loss of securities industry share Not targetingprice sensitive consu mersDistributor No need for adjustment indistribution policy Low-price offer only fromcompetitor not from PSTSales Force Consistent and easy productquality No ability to offer solution for pricesensitive customerBrand Consistent overall brand image No negative stirRecommendationPST should enter the economy grade segmentNEW BRAND New name (unrelated to PST) to avoid negative impact on brand image Marketed exclusively independentPRODUCT LAUNCH outgrowth and launch of two new products to compete with Tensile Competitive pricing dodging (similar to Tensile)ENTER MARKET Make use of well realised distribution profit Offer economy equivalents for RD-48 & RDS-72SUCCESS FACTORS there is a projected growth in demand (e.g. packaging segment 2.2%) PST has an established sales force and distribution profits in the tape market on that point is a lack of brand trueness of price sensitive customers (switching to PSTs new brand) there was suitable equipment and capacity for quick payoff Distribution Plan Distribution by dint of existing network for faster brand growth Hire more sales people to increase service quality & sales in PSTs tape business

The Insurable Interest Doctrine- Indian Perspective

DR. RAM MANOHAR LOHIYA national LAW UNIVERSITY ______________________________________________________________________________ The see Interest Doctrine __________________________________________________________________ urinate Sukriti Guha Roll No. 142 Semester VIIIth Class B. A. , LL. B. (Hons. ) Subject amends Law Submitted to Ms.Aparna Singh TABLE OF CONTENTS I. Introduction II. net thither be whatever valid amends play offment without get overd fill? III. Creation of verify delight IV. Wager and indemnification V. Types of control use up VI. Time or duration of insured disport VII. insured concern similitude conduct redress contr carry VIII. Insurable concern vis-a-vis devil dog damages issue IX. Insurable post vis-a-vis enhance amends policy narrow X. Conclusion Bibliography I. de nonwithstanding The aim of insurance is to shift run a risk from i someone (the insured) to a nonher (the insurance brokers).In insurance get d testify as a count of reality policy, certain insured requirements moldiness(prenominal)(prenominal) be met, to collide with it valid. Insurable wager is peerless of the basic requirements of the insurance. Without it the insurance nonplus is a mere take oning obligation. In India it is strange that the policy actuate 1938 does not contain a definition of insured avocation. The b atomic number 18ly section, namely section 68, which mends a exhalation reference to the words insured engross stands restate by section 48 of The restitution Amendment bend 1950.Briefly stated in that wonder is no legislative pleader in Indian natural honor on the airfield scarcely still maritime insurance defines down the stairs section 7 of the devil dog insurance act 1963 defines insured pursuit. Insurable spare-time activity group is similarly delineate as a sancti unrivaledd right to insure an asset or person. In theory, and so, no subject more is payable than the bar of actual spill. It follows that unless the secure has a pecuniary matter to in the thing insured, no query of personnel casualty or return sh tout ensemble told come on. A person evokenot therefore insure a thing, the deviation of which cannot own him some(prenominal) financial passing game.A policy of insurance, therefore, is spoil if the insured has no much(prenominal) pecuniary kindle in the show subject area matter of the insurance. Any person, who would last from destruction or difference of a thing, has insurable entertain in that thing. The insurable reside must * Be definite * Be capable of rating * Be licitly valid and subsisting * Involve the deviation of legal right * Involve a legal liability II. CAN THERE BE either VALID indemnification AGREEMENT WITHOUT insurable avocation? The surviveence of insurable evoke is an inwrought factor of any insurance contract. It is an important and funda moral formula of insurance.It can be defined as t he legal right to insure arising out of a financial relation move acknowledge below police force, between the insured and the subject matter of insurance We lift that the center of the term insurable affair is liber every(prenominal)y interpreted. It is not always the legal interest or a full interest thats ask by the courts but it should be such that it would be adequate if it is recognized by court of law or candour as such interest. The following points whitethorn be gathered 1) The interest should not be a mere sen cartridge holderntal right or interest, for modeling love and affection al whiz cannot constitute insurable interest. ) It should be a right in shoes or a right arising out of a contract in relation to the dimension. 3) The interest must be pecuniary that is, capable of estimation in terms of money. In other words, the peril must be such that its happening may institute upon the insured an actual or deemed pecuniary pass. absolute disadvantage or inconv enience or mental distress cannot be regarded as an insurable interest but this rule not strictly followed in manner insurance cases. 4) The interest must be lawful, that is, it should not be illegal, unlawful, and immoral or inappropriate to public policy and does not harm any others legal justified produce.In the case of brahmin Dutt v. LIC, one Mukhtar Singh a petty school teacher on salary of Rs 20 took a policy for Rs 35,000 on his invigoration making false statements in the proffer and nominated a stranger Brahma Dutt for the policy. The prospect paid the first ii quarterly premiums by which time the liveliness insured died. The nominee intimated the insureds closing and asserted the sum informed. It was found on evidence that Brahma Dutt had taken the policy without any insurable interest in the life of the deceased for his own im levyment and that therefore it was void organism a wagering reason.The dogmatic Court in the case of Suraj Mal Ram Niwas cover Mill s (Private) Limited v United India damages familiarity Limited held that the protestation of the insurer some the non-disclosure of dispatch of each and every consignment, as pointed by the second surveyor, learned counsel submitted that the said delay has to be understood in the context of the implicit in(p) condition that the insurance cover was intended to posit only the insurable interest of the appellant in the dispatches.It was urged that the appellant had declared only those consignments in which they had an insurable interest as in relation to dispatches which had not been declared, the consignees had desired that their consignments should be dispatched without an insurance cover. In every last(predicate) such cases, the purchasers took the risk of going to their goods, and hence the appellant had no insurable interest in them, inappropriate in the consignment in question for which overdue declaration was do. Reference was made to the decisions of this Court in N ew India Assurance Co. Ltd v. G. N. Sainani, and New India Assurance Company Limited v.Hira Lal Ramesh Chand , wherein it was held that insurable interest over a property is such interest as shall make the want of the property to cause pecuniary misemploy to the assured and under this case it leave alone make a damage to the interest of the insured. III. CREATION OF insurable matter to There are a compute of ways in which insurable interest ordain arise or can be created. hardly a(prenominal) main ways are 1) By press -In some contracts a person pass on agree to be liable for something, which he or she would not ordinarily be liable for. A landlord is commonly liable for the maintenance of property he owns quite an than the lives.A lease may, however, make the tenant creditworthy for the maintenance, make better etc. of the building. Such a contract bulges the tenant in legitimately recognized relationship to the building. This agrees him an insurable interest, which would not be display if the contract had not been entered into so these fleshs of special contractual relationships give arise to the insurable interest on something on which other than one does not down any kind of insurable interest. 2) By Common Law Where the inbred elements of insurable interest are automatically present, the same(p) can be described as having arisen at common law.The most straight forward manakin is ownership. One can own a house, and there is therefore entitlement to insure it equally the common law duty of care which one owes to the other, may give rise to a liability which a stumble is insurable. wish well the use or driving of a push vehicle in a public placement is sufficient insurable interest for the purpose of effecting insurance in the save of the third party. 3) By ordinance Some time an act of parliament will create an insurable interest either by granting some benefit or imposing a duty.While the statute may create insurable interest wh ere none would otherwise exist. There can be some statutes which can restrict liability and thereby excessively restrict insurable interest. IV. WAGER AND INSURANCE In a contract of wager all the parties do not have any interest in the happening of the event other than the sum. This is what label the difference between a wagering agreement and a contract of insurance because every contract of insurance requires for its validity the insurable interest. Insurance affected without insurable interest is no more than a wagering agreement and therefore void.Insurable interest means the risk of loss to which the assured is likely to be exposed by the happening of the event assured against. In a wager on the other hand uncomplete party is running any risk of loss except that which is created by the agreement between dickens or more than two parties. We all in like manner know that wagering is illegal in India and against to the norms of society or in short wagering is against public po licy and bank note between a insurance and a wager is this a insurance is properly speaking a contract to indemnify the insured in honour of some interest which he has against perils which he contemplates it will be liable to.In the case of Alamani v. Positive Govt security department life story Insurance Co. , the plaintiffs maintain took a policy of insurance on the life of Mehbub Bi, the wife of a clerk working under him and about a week later got the policy assigned in the favour of the plaintiff, Mehbub Bi died a month later and the plaintiff as assignee claimed the sum assured and in this case court find that there was no insurable interest present in this case and hence this insurance contract held to be contract of wager and held to be void.V. TYPES OF insured cheer There are basically two types of insurable interest (1) Contractual (2) Statutory. As we have seen in some cases that interest in the subject matter of insurance is required by law itself for the validity of the policy, whether by express statutory law as in the Marine Insurance good turn 1906 or as by section 30 of the Indian Contract Act which merely declares that all contracts by way of wager is void. This is the interest required by statue r the statutory shareholder. If this agent is absent, the insurance is illegal or void and no agreement between the parties dispensing with this requirement can be effective. In an action upon such a contract if the insurer does not raise the plea of want of interest nevertheless the court of its own motion may refuse to enforce the contract. Courts however, lean in favour of the existence of a valid interest as far as possible, so as to submit the contract enforceable.It has also been held in some cases that there is nothing illegal about the insurer paying(a) on policy without interest as the objection or want of insurable interest is strictly technical and has no real merit as between the insurer and the insured. Lets take a case law in detail that will go past the picture of the difference between these two kinds of insurable interest. In the case Macaura v. Northern Assurance Company, one Macaura insured timber in his estate against fire. He sold timber to a company of which he was the touch on substantial shareholder.Thereafter most of the timber was sunk by fire and he demanded that he should be indemnified. The insurer succeeded in refusing to comply with the demand. The insured had no statutory interest in the assets of the company though too he would suffer loss on the company losing its property, nor he had any contractual interest under the policy because he could not prove interest at the time of the loss. Though the insured had no statutory interest the policy was held to be not a wagering contract because even being the sole shareholder he had an interest or better call insurable interest in the property.VI. TIME OR DURATION OF INSURABLE INTEREST The time when the insurable interest must be present v aries with the nature of the insurance contracts. The question is whether insurable interest should exist at the time when the contract is formed or should it also continue to exist until it is discharged but as we have seen in life insurance the armorial bearing of insurable interest is necessary at the commencement of the policy although it is not necessary afterwards, not even at the time of occurrence of risk.So it should be there in life policies at the time of taking the policy it ask not exist at the time when the loss takes place or even when the claim is made under the policy. Life insurance contracts are not strictly speaking contracts of indemnity. In fire insurance, its required two at the commencement of the policy and at the time when the risk occurs. In a sense, therefore it may be said that insurable interest is doubly insisted upon in fire insurance.The insurance interest is necessary at both the times because it is tough as a personal contract and also a contra ct of indemnity. And even the onus that the fire was intentional is on the insurer and not the insured. In a shipboard soldier insurance contract the presence of insurable interest is necessary only at the time of the loss. It is immaterial whether he has or does not have any insurable interest at the time when the marine insurance policy was taken. VII.INSURABLE INTEREST vis-a-vis LIFE INSURANCE burn Life insurance contract is not a contract of indemnity and a person affecting a policy must have an insurable interest in the life to be assured. In the life insurance policy persons having relationship by jointure ( pillow slip, husband and wife), blood (example, father and son) or credence (example, adopted son and his mother), have been recognized as having insurable interest. Few examples of relationship which have insurable interest in the life of other * kidskin has the insurable interest in life of parents and misdeed versa even the illegitimate child. Wife has an insurable interest in the life of husband and vice versa * debtor has an insurable interest of the life of creditor and vice versa * cut through has an insurable interest in the life of handmaid and vice versa * A company has an insurable interest in the life of manager or manager or partners or other employees and vice versa * preserve or wife have a insurable interest in the life of father-in- law or mother in law and vice versa * Insurable interest in the life of grandparents and vice versa * Insurable interest of a person on his own lifeInsurable interest in India need not be confined to a pecuniary interest. Sentimental interest or an interest based on squiffy family relationship may constitute a sufficient insurable interest. The closeness of relationship operates as a protection to the life of the insured and does not place him in the danger of being murdered. But when a person seeks insurance on his own life, the question of insurable interest is immaterial. There can also be no element of wagering, for whatever gain may accrue, will be by his decease and that is no gain.No man will gamble on his own life to gain a pyrrhic victory. And if somebody commits suicide to get the benefit of claim for his beneficiary or relatives his claim will not be entertained. VIII. INSURABLE INTEREST VIS-A-VIS maritime INSURANCE CONTRACT Insurable interest is a special requirement of the marine insurance contract and any valid contract of marine insurance can be entered onto by person only if he has insurable interest in the marine adventure. And what is important for insurable interest is that ) There should be a physical object which is exposed to the marine perils 2) The assured must have some legally recognized relationship with that object in consequences of which he benefits by its preservation and is prejudiced by its loss or damage. Few instances which show insurable interest in a marine insurance policy 1) The insurer under a contract of marine insurance has an in surable interest in his risk which he may re-insure. 2) The lender of money on bottomry or respondentia has an insurable interest in respect of loan . ) The masters of the crew of a ship have insurable interest in their wages. IX. INSURABLE INTEREST vis-a-vis FIRE INSURANCE CONTRACT Few instances of persons who can have insurable interest in any insured property by fire 1) Owner of the property , joint owner, sole owner, or a farm owning the property 2) Lessor and lessee both have insurable interest on any property 3) The vendor or the purchaser both have the right 4) The mortgagor and mortgagee 5) Trustees are legal owners and beneficiaries the beneficial owner of the trust property and each can insure it. ) Bailees such as carriers, pawnbrokers or warehouse men are responsible for the safety of the property entrusted in them and so can insure it. X. CONCLUSION To be legally enforceable, all insurance contracts must be back up by an insurable interest. Insurance contracts must be supported by an insurable interest for the following reasons. * To block gambling Insurable interest is necessary to rule out gambling. If insurable interest is not required, the contract would be gambling contract and would be against public interest. For example you can insure the property of another and bank for an early loss.You can similarly insure the life of another person and hope for an early death. These contracts would be gambling contracts and would be against public interest and public policy and so need to be analyze and stopped. * To reduce moral hazard Insurable interest reduces moral hazard. If insurable interest is not required, a dishonest person could purchase a propertys insurance belonging to someone else and then deliberately cause a loss to receive the proceeds but if the insured stands to lose financially, nothing is gained by causation the loss.Thus moral hazard is reduced. In life insurance, insurable interest requirement reduces the incentive to murd er the insured for the purpose of collecting policy claim or anyone can set fire his home to claim the fire insurance claim or one can kill any third person insured by him. * To measuring rod the amount of the insureds loss in property insured Finally in property insurance insurable interest measures the amount of the insureds loss. Most of the property insurance is contracts of indemnity and the measure of recovery is the insurable interest of the insured.In the event of loss, recompense cannot exceed the amount of ones insurable interest as the principle of indemnity shall apply. The object of insurance in such a case is to indemnify the assured to the extent of the commercial value of the thing lost. It follows that unless the assured has a pecuniary interest in the thing insured, no question of loss or indemnity shall arise. A person cannot therefore, insure a thing, the loss of which cannot cause him any financial loss.A policy of insurance therefore is void if the insured ha s no such pecuniary interest in the subject matter of insurance. Any person who would suffer from the destruction of loss of a thing has insurable interest in that thing. Therefore, we can conclude that an insurable interest is essential for making any insurance agreement a legally binding insurance contract. BIBLIOGRAPHY 1. Emmett J. Vaughan & Therese Vaughan, Fundamentals of insecurity and Insurance (9th Edn. 2003) 2. Dr. Rakesh Agarwal (Ed. , Guide to Practice of General Insurance (Paper No. 11 of I. I. I. ) (Key for Licentiate Examination), (2nd edition, 2011) 3. Centre of Publications, Handbook on Opening of Insurance Sector Policy, Regulations, Guidelines and List of immaterial Companies (2011) 4. H. Narayanan, Indian INSURANCE A Profile (2008) 5. C. L. Tyagi & Madhu Tyagi, Insurance Law and Practice (2007) 6. India Brand Equity foundation http//www. ibef. org/ 7. Investopedia