global insurance industry - Free Essay Example

Sample details Pages: 12 Words: 3476 Downloads: 3 Date added: 2017/06/26 Category Economics Essay Type Research paper Did you like this example? 1. Industry analysis This section provides a summary firstly, of the insurance industry including its long history and secondly, what is insurance and why do we need it. Thirdly, a description of the insurance industry globally including its size by value, the competitive landscape, challenges the industry faces, the regulatory environment, and the role technology plays and finally, a summary of the insurance industry in New Zealand. 3.1 What is insurance? 3.1.1 An abbreviated history Literature and indeed history dates the concept of insurance as far back as the early to middle Bronze Age, 3rd millennium BC. Chinese merchants would spread their cargo across a number of ships to limit the loss due to any single ship capsizing. Then about 2250 B.C., Hammurabi the King of Babylon, developed a system called the Code of Hammurabi, where a merchant received a loan to fund his shipment; he would also pay the lender a further amount in exchange for the lenders promise to cancel the loan if his shipment was stolen (C F Trenerry, 1926; King, 2004; Wikipedia, 2009). Sometime around 600 A.D. the Greeks and Romans introduced the concept of health and life insurance. This was through the establishment of benevolent societies whose purpose was to care for families and funeral expenses of its members on death. In 1688 Edward Lloyd opened a coffee house with the express purpose of providing a reliable source of shipping news. This became later named Lloyds of London, the pla ce where underwriters wrote insurance policies thereby starting the modern concept that we now understand of insuring risk. Don’t waste time! Our writers will create an original "global insurance industry" essay for you Create order 3.1.2 Definition of insurance Insurance is a form of protection against financial loss which arises from unexpected events. Insurance companies collect premiums to provide for this protection. By paying a sum of money it safeguards you financially from regrettable events. (Getmeinsure, 2008; Investopedia ULC., 2008; My Insurance Guide, 2008; State, 2009) In New Zealand, the Insurance Council website states that Insurance hedges against the unknown and random events (ICNZ, 2009a). Depending on the company and the type of insurance required, insurance is defined as a contract between insurers (Insurance Reinsurance companies) who undertake in exchange for premiums, to pay the insured (Insurance companies and their customers) a fixed amount of money if certain events happen (Investment Savings Insurance Association, 2009; Investopedia ULC., 2008). The type of insurance cover required to help protect varies from company to company but may include: Boat Car Caravan and trailer Commercial Health Home Life Motorcycle Reinsurance Travel This case study refers to reinsurance as the way in which insurance companies protect or insure themselves with other larger insurance companies against the risk of loss caused by major catastrophes such as hurricanes, earthquakes, class action lawsuits, collisions (significant in size such as between ships or trains), extensive diseases or sickness and death caused by pandemics.(Investment Savings Insurance Association, 2009; Swiss Re, 2004) 3.2 The insurance industry, globally 3.2.1 Sector size To measure the enormity of the insurance sector, in 2004, globally insurance premiums totalled in excess of USD$3,300 billion for both life and non-life insurance (Figure 7: Global multi-line insurance market value). With annual growth rates ranging between 2 and 10% (Stanley St Labs., 2009). Multi-line insurers, those with diversified interests in life, health, property medical insurance, in 2008 accounted for premiums of USD$3,888.6 billion making insurance one of the largest financial sectors (Figure 8: Global multi-line insurance market). The major insurance markets are in the US, Europe, Japan, and South Korea with a growing number of emerging markets that include India, China, and Latin America. As a result, the four major markets, comprising 7% of the worlds population, accounted for almost two-thirds of premiums for 2004, while remaining or emerging markets, 85% of the worlds population, accounted for only 10% of all premiums (Figure 9: Global multi-line insurance marke t) (Insurance Information Institute, 2008). 3.2.2 Competitive landscape Most industrialised countries recognise that markets operate best under competitive conditions. When markets are left to their own destiny, failure may occur due to personal interest and personal advantage, as much as diverse market conditions. In the United States the Sherman Act of 1890 was enacted to enhance antitrust laws. This has been amended over the last 120 year but still maintains the principles it was founded on. Most countries are now reproducing the United States law and developing similar antitrust legislation to prevent monopolistic practices, though attitudes differ in East Asia where it is well known that Hong Kong and Singapore support monopolies (Nissan, 2003; Round, 2002). The number of products and services on offer has never been better for consumers whether they are mum and dad protecting what they have built up during their lifetime to shareholders wanting to preserve their investments. Each has its own risk but isnt that what insurance is about; managing risk. The insurance information is consumed not only by the consumers wanting to understand their risk but includes industry advisors, strategists, business owners, governance boards and shareholders, who all have a need for information or facts to support decisions they take. Since the end of 2007 the world economy has suffered from a recession; recession being a fall in Gross Domestic Product (GDP) for at least two consecutive quarters (Amadeo, 2009; BBC News, 2008). It has been debated that either in the United States where higher mortgage rates coupled with declining house prices caught out homeowners (Amadeo, 2009; Stanley St Labs., 2009) or global triple digit oil prices are to blame (Hamilton, 2009; Rubin Buchanan, 2008; Schneider, 2008). Higher mortgage rates coupled with declining house prices forced banks to reassess their risks and stopped lending to each other. This in turn led to significant government bailouts, bankruptcies or government nationalisation o f Bear Stearns, AIG, Fannie Mae, Freddie Mac, IndyMac Bank, and Washington Mutual. As a result employment in the US was declining faster than in the recession of 2001 (Amadeo, 2009). On the other side, ongoing crisis in the financial markets are masking what is taking place in the oil industry. Oil stocks have risen uncontrollably, in some case over 500% since 1973, which caused the recession in the 1980s (Rubin Buchanan, 2008; Schneider, 2008). Figure 10: US long leading index below is a cyclical indicator of US business cycles. The indicator is used to anticipate and monitor economic consistently. It is made up of by measuring a combination of employment, manufacturing, services, construction, trade balance, imports, exports, and future inflation (Banerji Hiris, 2001). Whichever is the cause of the current recession, the world has been suffering two significant problems since 2007; global recession and a global credit crisis. Given these circumstances, insurance tren ds are on the increase due in part to greater take-up of high-speed communication between companies and individuals. Consumers of products are now able to purchase insurance and financial products not only through traditional means but online and over the phone from almost anywhere in the world. Increasing affluence, especially in developing countries, and a rising understanding of the need to protect wealth and human capital has led to significant growth in the insurance industry. (Stanley St Labs., 2009) 3.2.3 Challenges for the insurance industry The insurance industry has faced and continues to faces numerous challenges (Deloitte, 2008, 2009). The share variety of challenges makes it difficult to include all challenges in this case study. The following sections highlight key challenges facing the insurance industry where technology particularly IdM has an impact. Malware/phishing/identity thief Organised crime is using sophisticated malware attacks to write malicious code on systems to watch and record users personal information (Huntington, 2006; Seltsikas, 2005). Crime syndicates using elaborate toolkits conduct phishing attacks (identity thief) and keyboard logging attacks using both hardware and software devices at the same time. Huntington recommends nine levels of defence that form a layered identity strategy to mitigate risk of attack. Appendix 6: Challenges in insurance. IdM will be the key to legitimate data access providing, at every point, strong underlying infrastructure (Bosworth, et al., 2005; Seltsikas, 2005). Money laundering The Societys Audit Manager indicated that possibly the next big conspiracy in the insurance industry was money laundering. This he bases on the terrorism threat to economies such as New Zealand where it may seem easier in a small country to get away moving money between accounts. The practice of IdM, in particular identity verification, is one technique used to monitor exactly who is accessing an account and could tell if those on watch lists for suspicious financial activities have assess to your systems. Reports using watch lists provide organisations such as Interpol with information to help monitor the activities of known terrorist. Preceding and next generations As new generations enter the work force they bring with it new challenges that are undoubtedly different from previous generations (Nana, 2009). There is also a change in the control of power shifting from employer to employee. As an example, The Chubb Corporation offered staff flexible work schedules. The outcome was 18% increase in the number of casualty claims, 4% increase in payments processed within 24 hours, 40% decrease in overtime hours. In a number of cases IdM concepts were responsible Chubbs increases. Flexible working arrangements meant that staff were able to work from home, hot desk at a branch or in the Head Office, and link to authorised systems. Chubbs IdM system provisioned/de-provisioned staff, provided role-based access to systems, and provided self management for minor IT issues such as password resets and system lockouts. Privacy security Famous psychologist Abraham Maslow termed the phrase next to survival comes safety and security' (Vishakeb, 2008). In 2008 the Lloyds bank introduced follow me technology which provides the ability for employees to print from any technical device with enhanced security. This was due to Lloyds Corporation ID pass which released print jobs once their identity was verified (Lloyds, 2008). Sarbanes-Oxley Act A United States federal law enacted on July 30 2002 as a reaction to a number of major corporate and accounting scandals As companies exhibit tighter control over their practices, IdM elements play a key role in providing companies with greater auditing capabilities through ensuring security policies are built into the IdM solution, reduce risk through automation, strengthen system access by way of identity verification, and the provisioning and de-provisioning of users accounts. This last point ensures each identity is provisioned the right access, to the right system, at the right time. Working within regulatory and compliance frameworks Insurance for long periods has been self-regulating but negative events over the last 25-30 years, such as fraud, money laundering, and poor standards and ethics, have evoked governments to regulate the industry to the point that the industry must now work within stringent regulatory and compliance frameworks. Auditors often cannot take into account all aspects to the business, unless significant issues are prevalent, and rely on the company to be honest and disclose areas of potential risk. IdM plays a significant role in providing Auditors additional reporting tools to examine transaction logging in applications and systems. 3.2.4 Regulatory environment There are good reasons that insurance has, historically, been subject to regulation. The most obvious one is that a consumer pays money today for a promise that may not be deliverable for years. That promise must be secured from many threats, including insolvency and dishonesty. (Hunter, 2003) Each country has their own range of regulations, standards and guidelines for insurance companies. International regulations are becoming more commonplace as insurance companies open international subsidiaries to leverage their competitive products and services. Two recent additions to regulatory compliance within the European Union (EU) over the last 5 years have been Solvency II, an updated regulatory requirement for insurance companies operating in the EU, is designed to facilitate developing a single-market for insurance across Europe. From a United States standpoint, changes to accounting practices through International Financial Reporting Standards (IFRS) are designed to develo p international standards for financial reporting (IFRS, 2008a, 2008b). These two standards have caused insurance companies to question the validity and assumption that the new standards undermine business profitability. 3.2.5 The role of technology One of the greatest technological impacts and challenges to the insurance industry over the past 15 years has been the adoption of the Internet, and in particular e-commerce. Market forces dictate that every insurance business should an online presence. In the Internets infancy customers accepted that brochureware websites gave all the necessary information without the ability to purchase products or services. That has significantly challenged insurance companies in recent years to the point that if they cannot provide what now are the basics, online forms, calculators, detailed and comparative information, then customers turn to the next company that can support their need for information (Aarabi Bromideh, 2006; Yao, 2004). Technologies and innovative approaches to business are moving at such a pace that companies are finding it difficult to keep up with legal implications. For example, nanotechnology and the risks posed by it remains unpredictable (Lloyds, 2008). Its not j ust the use of information that insurance companies find difficult to maintain, but the risks placed on the information technology infrastructure remains key in most companys minds. With the amount of data, companies are moving to leasing or building their own large-scale datacentres and warehouses to support their capacity concerns for storage. For most insurance companies the industry is very much reliant on manual processes. Automation and expert systems play a significant role for larger companies where premiums can cover the cost of developing these complex systems by relying on statistical accuracy, particularly in the field of underwriting. For small to medium sized companies (SME) automation is less attractive as the returns in most cases do not cover the costs (Kelly, 2002; Whitney, 2001). The role of technology is not only consumed by companies but in itself can lead to large claims as Lloyds state in their 2008 report for 2007. there was a series of single event losses that were significant in size and frequency. Man-made and technological catastrophes caused around US$7bn in insured losses last year, some 46% higher than the annual average of US$4.8bn. Nineteen events across 11 countries resulted in insured losses ranging from US$80m to nearly US$2bn each. (Lloyds, 2008) Weve identified a small number of technologies that play a role and have an impact in the insurance industry. This by no means rules out other technologies as each plays their role in defining and providing a competitive edge for insurance companies. In saying that, employees will not replace technology anytime soon for two reasons. The majority of the market still want some level of human interaction where purchasing a product or service, and secondly, most commercial products, at this time, are too complex to be sold without an advisor or broker (Kelly, 2002). 3.3 The insurance industry, locally In New Zealand, MED (Ministry of Economic Development, 2009a) depicts the industry as being a small market by world standards dominated by international subsidiaries for life and general, with mainly local companies for health insurance with Southern Cross, the largest of these, holding 70% of the market. As at October 2007 there were 42 life insurance companies offering policies in New Zealand and 134 registered Non Life Insurance Companies, Brokers and Captives with total gross premiums of nearly $4 billion to October 2007. These companies are regulated under New Zealand laws and depending on the types of insurances sold comply with a number of acts: Life Insurance Act 1908 Insurance Companies Deposits Act 1953 Insurance (Ratings Inspections) Act 1994 Superannuation Schemes Act 1989 Accident Insurance Act 1998 Financial Reporting Act 1993 Insurance Companies Deposits Act 1953 Friendly Societies and Credit Unions Act 1982 Securities Act 1978 Since 2008, disaster and general insurers offering policies in New Zealand have been required to be rated by one of the following three agencies; AM Best, Standard Poors and Fitch Ratings. This rating is designed to provide a measure of a companys ability to meet its claims payment obligations to customers. 3.3.1 Competitive landscape New Zealand insurance and finance industry, in which the Society operates, are currently experiencing a recession of such enormity not felt since the Great Depression of 1938. Some of the more experienced and long-standing organisations with large customer-bases are finding it difficult to weather the recession if it last much longer as they experience a drop-off in premiums and a surge in claims. As a result reinsures are charging more to cover the affects. New Zealand companies role in the insurance industry globally is less significant than with larger nations, but it still plays a major role to support the local market. In the Tower Market Review (2008, p. 1) to the end of Dec 2008 stated that: 2008 will go down in history as one of the most dramatic years the markets have ever experienced. By the end of the year, turmoil in the credit and equity markets was feeding through to the real economy, with authorities worldwide trying to avert a prolonged recession. 3.3.2 Challenges New Zealand faces many of the same challenges as other countries do due to the fact that all major insurance companies operating here are international subsidiaries. The challenges for smaller companies is maintaining their customer base as most smaller companies target specific niche markets such as the Society and medical professionals. 3.3.3 Regulatory environment Insurance companies are not immune to facing regulations that protect but the cost to comply ends up costing the consumer. New Zealand is one of the less regulated counties in the world when it comes to insurance and finance. This is due in part to the New Zealand Insurance Council and its self-regulatory framework (Table 6: Insurance Councils self-regulatory framework) and self-developed guidelines (ICNZ, 2009b). This seems to work in New Zealand as our cultural differences, compared to most other countries, relies on companies being fair and providing that helping hand due to our small population size and geographic location. With the work ICNZ undertakes, bear in mind the government acts identified previously. IFRS (International Financial Reporting Standards) will become a requirement for all New Zealand reporting entities, including insurance companies, with financial years commencing on or after 1 January 2007 (KPMG, 2009). Joanna Perry, KPMG Partner and Chairman of the Financial Reporting Standards Board states that: The transition of New Zealand business to International Financial Reporting Standards is without doubt one of the most significant accounting events in our countrys history. The impact of IFRS on New Zealand insurance companies means customers should see transparency in companies reporting results, providing greater levels of confidence. For insurance companies this means increased complexity with greater care to be taken when providing advice and being transparent to customers. 3.3.4 The role of technology As described in 3.2.5, the role of technology, New Zealand is not immune from those observations. There impact is felt in New Zealand probably more so given our physical remoteness in the world relative to international markets. New Zealand is strongly dependent on its communication technology links such as the Southern Cross Cable for access to compete with the rest of the world without significant time delay or restrictions that other modes of communication possess. New Zealand is more likely to be able to compete successfully in global markets by developing strengths in the weightless economy the weightless economy includes adding more knowledge-based value (Skilling, 2009) As the Internet has developed and expanded globally, New Zealand has attempted to make the most of it by incorporating new business models accorded by the Internet into mainstream business (Skilling, 2007; Skilling Boven, 2007). This has allowed for greater competition and influence from intern ational insurance companies, which once may have ignored New Zealand due to its remoteness, to deal directly with rather than through 3rd party brokers and advisors. The governments broadband investment proposal, in which ultra-fast broadband is to be rolled-out to 75% of New Zealanders over the next six years, has been accepted as an extremely positive move (Ministry of Economic Development, 2009b; The New Zealand Institute, 2009). This affords New Zealand insurance companies the ability to compete, be more innovative, and provide technology solutions to customers yet to be discovered. In parts of Asia, Europe and the United States, broadband connectivity is so fast that the time for customers to get the right information to make informed decisions has shortened allowing those insurance companies with innovative solutions to attract the customer before lesser insurance companies. 3.4 Summary Technology plays an extremely important role within the insurance industry. The examples contained within this chapter contain a narrow view into what others are doing at this time. The ability for New Zealand insurance companies to compete in these markets requires them to adapt solutions, business models, technology and to innovate to the point where it still may not make that big a difference to policy holders. What will make the difference is being able to offer targeted products and services to consumers. New Zealand has the potential to select the best products and services based on experiences from other insurance companies; it can rely to a larger extent on the diversification of global companies to leverage and find the best for its consumers. This requires knowing the its environment which markets offer the best rage of solutions (rates, product and technical expertise), regulatory opportunities to ensure New Zealand companies do not suffer from monolithic pract ices or legal infringements, industry and financial trends that provide realistic views in forecasting for harder times, and the myriad of other challenges that the industry faces.

Essay about Evaluation of 2 Preschool Programs - 714 Words

According to our textbook Student Teaching, â€Å"A quality preschool program will have a balanced curriculum† along with many other standards. There are many different types of programs for young children. There are private programs, public programs, center programs, and family child care homes. Many of these programs provide a quality program for children and families. In order for us to understand what quality means we were asked to use the PAS evaluation tool on two programs. We were then asked to justify our choice of program for our final internship. Below is my description of the two programs I chose to evaluate and my justification of why I have chosen one of these programs for my final internship. The two programs that I chose to†¦show more content†¦They engage children in meaningful/purposeful learning activities and play. The preschool program includes curriculum areas such as science, math, PE, social studies, technology, and Spanish along with cognitive skills such as language, early reading and writing to name a few. Instruction is balanced between individual, small and large group instruction. Children are assessed on an ongoing basis at NCA. Staff communicates with parents regularly. For example, the teachers send out weekly newsletters in addition to a school wide newsletter that is also sent out once a week. The mission of NCA is to partner with parents in the education of their child. In addition to the above, I feel that Naples Christian Academy is also a good fit for my future career goals. I plan on continuing to work at NCA. In fact I am getting this degree so I can better serve the students in my care. I also believe the teachers at NCA will and have enhanced my learning. For example, I have observed many of the teachers at NCA for my college work. I have witnessed excellence in teaching in all of the classrooms. The teachers at NCA have been excellent mentors throughout this entire program. According to our textbook Student Teaching, â€Å"NAEYC holds that the most important determinant of the quality of children’s experiences is the adults who are responsible for children’s care and education.† All of the head teachers at NCA have BS or higher degrees. They also attend workshops toShow MoreRelatedChild Abuse And Neglect Of Children Essay1276 Words   |  6 Pageschild abuse and failure to prosper (p. 2). Additionally, among those who received home visitations, there was evidence of a significant reduction of measures of child abuse and neglect. This included less emergency visits due to injuries and a decrease on reports of child abuse and neglect to child protective services (p. 3). Equally, there is evidence provided by Harder, 2005, where the study provides an evaluation of a home visitation parent aide program. 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Seattle University Acceptance Rate, SAT/ACT Scores, GPA

Seattle University is a private Jesuit university with an acceptance rate of 76%. Located on a 48-acre campus in Seattles Capitol Hill neighborhood, Seattle University offers 65 undergraduate and over 50 graduate programs. Classes tend to be small with an average size of 18, and the university has a healthy 11-to-1  student / faculty ratio. Seattle has a 12-course core curriculum that culminates in a major-specific capstone course. In athletics, the Seattle Redhawks compete in the NCAA Division I in the  Western Athletic Conference. Considering applying to Seattle University? Here are the admissions statistics you should know, including average SAT/ACT scores and GPAs of admitted students. Acceptance Rate During the 2017-18 admissions cycle, Seattle University had an acceptance rate of 76%. This means that for every 100 students who applied, 76 students were admitted, making Seattle Us admissions process somewhat competitive. Admissions Statistics (2017-18) Number of Applicants 8,640 Percent Admitted 76% Percent Admitted Who Enrolled (Yield) 17% SAT Scores and Requirements Seattle University requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 75% of admitted students submitted SAT scores. SAT Range (Admitted Students) Section 25th Percentile 75th Percentile ERW 570 660 Math 560 660 ERW=Evidence-Based Reading and Writing This admissions data tells us that most of Seattle Universitys admitted students fall within the top 35% nationally on the SAT. For the evidence-based reading and writing section, 50% of students admitted to Seattle University scored between 570 and 660, while 25% scored below 570 and 25% scored above 660. On the math section, 50% of admitted students scored between 560 and 660, while 25% scored below 560 and 25% scored above 660. Applicants with a composite SAT score of 1320 or higher will have particularly competitive chances at Seattle University. Requirements Seattle University does not require the SAT writing section. Note that Seattle participates in the scorechoice program, which means that the admissions office will consider your highest score from each individual section across all SAT test dates. ACT Scores and Requirements Seattle University requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 39% of admitted students submitted ACT scores. ACT Range (Admitted Students) Section 25th Percentile 75th Percentile English 24 32 Math 23 28 Composite 24 30 This admissions data tells us that most of Seattle Universitys admitted students fall within the  top 26% nationally  on the ACT. The middle 50% of students admitted to Seattle University received a composite ACT score between 24 and 30, while 25% scored above 30 and 25% scored below 24. Requirements Seattle University does not require the ACT writing section. Unlike many universities, Seattle superscores ACT results; your highest subscores from multiple ACT sittings will be considered. GPA In 2018, the average high school GPA of Seattle Universitys incoming freshmen class was 3.62, and 42% of incoming students had average GPAs of 3.75 and above. These results suggest that most successful applicants to Seattle University have primarily A grades. Self-Reported GPA/SAT/ACT Graph Seattle University Applicants Self-Reported GPA/SAT/ACT Graph. Data courtesy of Cappex. The admissions data in the graph is self-reported by applicants to Seattle University. GPAs are unweighted. Find out how you compare to accepted students, see the real-time graph, and calculate your chances of getting in  with a free Cappex account. Admissions Chances Seattle University, which accepts just over three-quarters of applicants, has a somewhat competitive admissions pool with above average GPAs and SAT/ACT scores. However, Seattle University has a  holistic admissions  process involving other factors beyond your grades and test scores. A  strong application  essay  and  glowing letters of recommendation  can strengthen your application, as can participation in  meaningful extracurricular activities  and a  rigorous course schedule. Students with particularly compelling stories or achievements can still receive serious consideration even if their test scores are outside Seattles average range. Seattle University offers freshman applicants  the opportunity to apply for Direct Entry to specific majors.  Note that some programs require additional credit requirements and minimum test scores for Direct Entry. In the graph above, the blue and green dots represent students who were admitted to Seattle University. Most had SAT scores of 1050 or higher (ERWM), an ACT composite score of 22 or higher, and a high school average of a B or higher. Grades and test scores above these lower ranges will improve your chances, and you can see that many admitted students had grades in the A range. If You Like Seattle University, You May Also Like These Schools University of WashingtonGonzaga UniversityNew York UniversityOregon State UniversityStanford UniversityUniversity of San DiegoLewis Clark CollegeLoyola Marymount UniversityUniversity of OregonSanta Clara University All admissions data has been sourced from the National Center for Education Statistics and Seattle University Undergraduate Admissions Office.

John F. Kennedys Thirteen Days - 549 Words

For what probably felt like a month the 13 days that Kennedy and his Associates went through was one of the memorable events during Kennedy’s time as president. If Kennedy would have did things different would we maybe have gone to war with Russia? Who knows, but because Kennedy did make good decisions and had lot of great people on his side while making these decisions that made this movie and real life story epic. He also had the problem of he was against what his own Chiefs of staff and other advisers who wanted a full on attack on Cuba. So that made it that much harder to avoid war and causing possibly a nuclear war. All kennedy was really looking for was a way out of this mess known as the Cuban Missile Crisis. Part of the problems with all these decisions being forced on one person was he was so stressed and there was so much pressure and to top all of that off Kennedy was taking all of that medicine for his back problems. One of the biggest types of pressure on a presid ent is when they are trying to avoid a nuclear war. The closest the world has ever come to a nuclear war occurred during the Cuban Missile Crisis. When Kennedy did first figure out about the missiles in Cuba it is hard not to just take action because if there setting this up you know youre running out of time and that this could be a misunderstanding. Later we were also lied to by Russia about the missiles being in Cuba. They knew that them having these missiles was unnecessary and could be a threat,Show MoreRelatedThirteen Days786 Words   |  4 PagesThirteen days is a historical account of the Cuban Missile Crisis. It is told from the perspective of Robert F. Kennedy, senator and brother to President John F. Kennedy. It is an account of the thirteen days in October of 1962. It lasted from the 16th to the 28th. During this time many crucial events in United States. These thirteen days were the time period in which the fate of the world was decided. The focus of the book was on the decision of both the United States and Russia. The UnitedRead MoreSenator John F. Kennedy s New Frontier882 Words   |  4 Pages6th Floor Museum – John F. Kennedy President John F. Kennedy served fourteen years in Congress before running for president in 1960. The Democratic Senator’s New Frontier platform drew upon Franklin D. Roosevelt’s New Deal and Harry Truman’s Fair Deal in calling for sweeping new social and economic programs. The New Frontier White House became identified with sophistication, high fashion, French food, cocktails, and superb entertainment were signatures of the Kennedy era. While laws and theologicalRead MoreThe Cuban Missile Crisis And Its Effect On The Moral Position Of The United States987 Words   |  4 Pages In Thirteen Days, Robert Kennedy recollects his time with President John F. Kennedy in handling the Cuban Missile Crisis. The Cuban Missile Crisis, as described in Thirteen Days, started on October 16, 1962. President John F. Kennedy was provided with a photograph that gave little evidence of a missile base. The whole area was about the size of a football field and, to many of the cabi net, seemed like nothing. Kruschev, the chairman of the USSR said that there was nothing to worry about. WhenRead MoreJohn F. Kennedys Inaugural Address1049 Words   |  5 PagesJohn F. Kennedy’s Inaugural Address Ceremonial speeches are given to mark ceremonial events and help a society move beyond their differences. John F. Kennedy gave a ceremonial speech, his inaugural address, on January 20th, 1961, marking one of the most historic speeches in time. In John F. Kennedy’s Inaugural Address speech, that is being evaluated today, the author uses social cohesion as a call for the nation to give back to the country, as we should do of course, and to ask, and expect lessRead MoreIs The Movie Thirteen Days History or Entertainment1990 Words   |  8 PagesThe movie Thirteen Days is 2000 docudrama and is directed by Roger Donaldson who is Australian and tries to portray the film in a serious manor. The movie is based on the 13 days of the Cuban Missile Crisis, and shows the perspective of the US political leadership, specifically Special Assistant to the president Kenny O’Donnell, President John F. Kennedy and the Attorney General Robert F. Kennedy. This film is not based on the bo ok of the same name written by Robert F. Kennedy like the first docudramaRead MorePresident John F. Kennedy: Hero or Villain Essay1295 Words   |  6 PagesPresident John F. Kennedy: Hero or Villain? For thirteen days, the United States’ government and citizens waited with abated breath, fearing the nuclear annihilation of their great nation. These thirteen days between October 16 and 28, 1962 are now known as the Cuban Missile Crisis. Briefly this crisis can be explained as a confrontation between two of the world’s greatest superpowers, the United States and the Soviet Union, which nearly instigated a nuclear calamity that could have destroyed bothRead MoreNineteen Days : A Memoir Of The Cuban Missile Crisis968 Words   |  4 PagesThirteen Days: A Memoir of the Cuban Missile Crisis by Robert Kennedy is a book that details those almost fateful 13 days in October of 1962 that could have resulted in the destruction of mankind. Robert Kennedy was the brother of President John F. Kennedy; he served as the United States Attorney General and â€Å"closest cabinet advisor and confidant† during JFK’s presidential administration. The book sets out to provide you detail of just how difficult of a decision the president was tasked with regardRead MoreJohn F. Kennedy s President Of The Cuban Missile Crisis902 Words   |  4 PagesThirteen Days In October of 1962 a pressing matter arose during John F. Kennedy’s presidential term. It was made apparent that the Soviet Union was holding and building missiles in Cuba, it was named the Cuban missile crisis. Being a dangerously close country to the United States, JFK knew he needed to make a smart and safe decision, and fast. Kennedy had suspicions that this option would cause a third World War and end in a nuclear fallout. Kennedy’s determination to be a participative leader wasRead MoreJohn F. Kennedy s Decision Making Process1186 Words   |  5 Pagesthat separates a good leader from a great one. In considering the governmental history of the United States, John F. Kennedy is arguably among the most successful presidents to hold the mantle of commander in chief. However, this degree was not achieved due to his infallible leadership and decision making skills. For this reason, I would like to investigate the extent to which John F. Kennedy’s decision-making process changed from the Bay of Pigs Invasion to the Cuban Missile crisis during his presidencyRead MoreEvaluation And Interpretation Of Sources2187 Words   |  9 Pages I. Evaluation and Interpretation of Sources In October 1962, the United States discovered nuclear missiles in Cuba, resulting in a two-week political crisis. This investigation will be assessing the following: what was Attorney General Robert Kennedy’s impact on the decisions and outcomes of the Cuban Missile Crisis? Nearly all of the meetings of the Executive Committee of the National Security Council were recorded, as well as many private conversations between President Kennedy and his staff

Postmodernism Free Essays

First of all, it is important to be aware of the differences between postmodernism and modernism. While modernism always tries to find a new way to express something, postmodernism has no such concern. Modernism itself is representational, normative, original and Universalism. We will write a custom essay sample on Postmodernism or any similar topic only for you Order Now It has a linear progress. Postmodernism has no concern about being original. Moreover postmodernism claims that there is not possible way to create something brand new anymore. So, contrary to modernism’s originality, postmodernism is quotation based. It is simulation and relativistic. While it is common to encounter alienated self in postmodernism, there is a decanter self in postmodernism. It will be useful to adopt the major characteristics of postmodernism into the postmodern movies. In postmodern films, we usually do see barcaroles. Those barcaroles are inspired mostly from the past. It is possible to say that the postmodern films have a mission of recycling the past. Moreover, since the high and low culture got stuck in the modern times, it is not possible to come across a separated culture in postmodern films. Postmodern films bring them together and melt them in a pot. They do not have one specific genre. Genre-cross over is commonly recognized in postmodern movies. A postmodern movie can be attached to several genres at the same time. One of the major characteristics of postmodernism, quotation shows itself as intellectuality. It can also be engaged to non-linearity in some examples. Postmodern movies mostly contain references to other movies. That’s a major element of intellectuality. While it is common to recognize reference to other movies it is also possible for a postmodern movie to reflect upon its own process. Parodies and pastiches have also a major part in postmodern movies. We usually do see the parodies of horror movies. A postmodern film also bends the time and creates confusions over the time and space. By the time it also blurs the lines between dream and reality. Especially the hyper reality blurs the lines by creating a simulation of reality. Also the element, metrification is used in postmodern films. For instance if a character speaks directly to the audience, it can be said that one of the elements of metrification is used. Metrification breaks the spell of the movie. How to cite Postmodernism, Papers

Role Of The Corporate HR Function In Global Talent - Free Samples

Question: Discuss about the Role Of The Corporate HR Function In Global Talent. Answer: I realised that the literature review executed in the previous assessment discussed about the challenges which a company faces while managing the global teams. There are numerous factors which plays crucial role in relevance with managing the global teams in the multinational corporations, thus, it is necessary to analyse the alternatives through which the impact of those factors could be minimised as well as the task of management of global teams could be performed in an appropriate manner. It has been observed that the multinational corporations faces huge challenges because their operations are based on different cultures, hence, management process also differs from the domestic or local companies (Tarique Schuler, 2010). In order to manage the operations of organization in an effective manner, organization is required to adopt certain effective measures such as cross cultural management method. In this method, organization may face several issues such as different beliefs, diffe rent culture, language issues, etc. and these entire plays crucial role in the success of an organization. Thus, with the help of outcomes originated from analysis conducted, it can be observed that the gaps identified between the techniques adopted by the management and the challenges faced by the organization in different cultures needs to be rectified using advanced approaches (Reiche, Mendenhall Stahl, 2016). Various topics had been discussed in the previous assessment in order to ascertain the gaps amongst the articles used in the previous task in relation with the challenges in relation with managing global terms. As per my opinion, companies engaged at the international level suffer from various challenges such as managing the entire process, controlling the functionalities of all branches and outlets of the organization from headquarter (Mendenhall, et. al., 2017). There are four main factors which mainly face the challenges in relevance with multi-cultural teams: Workplace culture; Project management; Communication systems; and Technology factors; Three articles have been analysed for identifying the challenges amongst managing the global terms. Following are those articles: Cross-cultural challenges for a global maritime enterprise. Managing organizational challenges in global projects. Cross cultural and strategic management. In the first article, it has been observed that modifications of cross cultural challenges have been discussed by the author. The major issue which has been observed in the article conversation issues due to difference in culture. Multinational companies operate its functionalities in various countries and this also leads the organization to appoint different employees from the local places. Due to unique cultures, management faces issues in performing its functionalities such as conveying their messages to the employees. Employees also face the same issue and this leads the organization towards various issues such as delay in accomplishment of the tasks, communication gap amongst the management and the employees. Due to unique cultural background of the employees, their functionalities, behaviour and the point of view differs in comparison with the management (Boutellier, Gassmann Von Zedtwitz, 2013). Due to this, organza ion becomes incapable to attain its desired goals in the par ticular time period. This also affects the relationship of the employees and the management and increases the cost of the organization in training and development sessions. As the observations, management of the multinational corporations needs to provide certain training and counselling sessions in order to teach them in relevance with the organizational functioning, policies and the methods used for accomplishment of the tasks. In order to fill the gap between the communication procedure of management and the employees, organization needs to adopt certain crucial strategies such as integrated communication system in order to develop the balance amongst the employees and management (Daim, et. al., 2012). This procedure helps the organization to manage its functionalities in an appropriate manner along with developing the effective ways through which the outcomes could be originated on the basis of organizational managements expectations. People from different cultures and backgroun d come with different understanding level which may be in relevance with the organizational requirement or it may be against the organizational requirements. This leads to the challenges for the organization which will extract negative outcomes and it will also affect the organizational procedures and their expectations. Managing all the employees with different backgrounds and cultures will require an effective management system which may require additional expenditures for providing training and counselling sessions in relevance with providing them the knowledge regarding companys policies, rules and regulations to accomplish tasks (Pless, Maak Stahl, 2011). The second article discussed in the previous assessment describes the challenges for the management in relevance with managing global projects. On the basis of this article, it has been observed that the article contains several dimensions through which multinational corporations get global advantages. In this article, certain factors has been discussed which are the primary reasons which acts as the failure of organization, barriers between the communication process, and the cultural differences (Farndale, Scullion Sparrow, 2010). All these factors relates to the cross cultural management system. Reviewing the content of authors, it has been observed that various multinational corporations are facing unique cultural issues through which the management activities have been affected. This has declined the effectiveness of management in order to manage their functionalities for managing the global teams. Due to which the organization is not able to accomplish its desired targets. Mana gement of the organizations are responsible for managing all the operations in an effective manner in order to extract the results on the basis of organizational expectations. They need to face issues from both sides i.e. from the top level members of the organization and from the employees who are facing cross cultural differences (Jones Jones, 2010). Managers needs to face real life scenarios and for managing the real life scenarios on the basis of top level managements expectations, it is required to adopt certain effective strategies through which balance amongst the two sides could be developed effectively. Along with the differences and issues, this article also contains the information regarding the benefits of managing the global teams. With the help of global team management experience, managers become capable enough to increase their efficiency in order to cope up with the requirement of various scenarios. After gaining experience in the management field, managers become capable enough to handle all types of issues from employees sides as well as from the top level management (Stahl, et. al., 2012). This also helps the employees to match up with the organizational requirements and it also increases their capabilities. This also led the organization to increase in the opportunities for the organization to accomplish its desired goals and the objectives as well as to set up an effective position in the target market. In this article, authors have used a term twin sword for defining the assortment of cultures. This has been used for describing the quality of the managers through which they organise and manage all the activities of the organization effectively. Numerous strategies could be adopted by the organizational management in the global market for improving their effectiveness as well as to gain the benefits from implications of those strategies. Third article is based over the cross cultural and strategic management issues and benefits. It also focuses over the key issues which resist due to cross cultural system in accordance with the global business communication function. From my observation, this article consist a unique approach anthropological approach and it seems to be the crucial factor of this article. The primary function of this approach is to perform the functionalities of the multinational corporation at the global context in an appropriate manner. This approach also determines the significance of communication system through which organization could be able to reach to the desired destination. With the help of centralised communication system, multinational corporations being able to resolve the major issues like cross culture and lack of communication amongst the subordinates and amongst the management (Meredith Mantel, 2011). As per my opinion, I have personally realised by reviewing this article that effective communication process plays vital role in the success of the organization and without this process, organization will face issues like cross cultural issues through which the attainment of the desired goals would not be possible. This is the primary reason of adaptation and implementation of anthropological approach in the workplace with the view to ascertain the cross cultural issues in the management system. Apart from these factors, secondary factors which lead to the conflicts and disputes amongst the team members and the management are unique cultures of the employees and lack of internal communication system. This leads to decrease in the efficiency of the organization along with this expansion in the international market would not be possible (Jones Jones, 2010). Gantt Chart depicting Action Plan March April May June July August Maintaining a Journal Read Literature Conducting survey international companies Interacting with global employees Analysis of real life case study View point of inter cultural students The above Gantt chart explains the significance of activities which are required to be executed in this reflective essay. With the help of maintaining journal, regular information regarding the challenges faces in managing teams will be analysed. Literatures will help in determining the views of various authors in relevance with the topic which will be executed twice in the particular period. Further, conducting surveys will help the organizations to analyse the real life challenges faced by them in managing the global team and conducting their functionalities. Integration with the global employees will help the organization to understand their point of view which is detected due to cross cultural factors. The next part of the Gantt chart showcase the significance of real life case study and in this, multinational corporations past and present scenarios will be determined with the view to ascertain the opportunities regarding the issues due to ineffective cross cultural management. Last objective is analysing the view point of students which are from different and unique background and this will help to understand the real factors which may affect the organizational functionalities. With the above analysis, it has been observed by me that all the above articles in this reflective essay determine the key issues of the organization through which its efficiency decreases. Along with this, these articles focus over the challenges faced by the international business corporations while performing their operations in global market. Such big factors influence over the organizational performance like technology, communication, and culture and project management has also been discussed under this reflective essay. Along with this, the essay also includes the crucial terms such as twin sword and anthropological approach for improving the managements efficiency and ways to detect the critical issues in the cross culture management system have also been covered. References Boutellier, R., Gassmann, O. and Von Zedtwitz, M., 2013.Managing global innovation: uncovering the secrets of future competitiveness. Springer Science Business Media. Daim, T.U., Ha, A., Reutiman, S., Hughes, B., Pathak, U., Bynum, W. and Bhatla, A., 2012. Exploring the communication breakdown in global virtual teams.International Journal of Project Management,30(2), pp.199-212. Farndale, E., Scullion, H. and Sparrow, P., 2010. The role of the corporate HR function in global talent management.Journal of world business,45(2), pp.161-168. Jones, G.R. and Jones, G.R., 2010. Organizational theory, design, and change. Mendenhall, M.E., Osland, J., Bird, A., Oddou, G.R., Stevens, M.J., Maznevski, M.L. and Stahl, G.K. eds., 2017.Global leadership: Research, practice, and development. Routledge. Meredith, J.R. and Mantel Jr, S.J., 2011.Project management: a managerial approach. John Wiley Sons. Pless, N.M., Maak, T. and Stahl, G.K., 2011. Developing responsible global leaders through international service-learning programs: The Ulysses experience.Academy of Management Learning Education,10(2), pp.237-260. Reiche, B.S., Mendenhall, M.E. and Stahl, G.K. eds., 2016.Readings and cases in international human resource management. Taylor Francis. Stahl, G., Bjrkman, I., Farndale, E., Morris, S.S., Paauwe, J., Stiles, P., Trevor, J. and Wright, P., 2012. Six principles of effective global talent management.Sloan Management Review,53(2), pp.25-42. Tarique, I. and Schuler, R.S., 2010. Global talent management: Literature review, integrative framework, and suggestions for further research.Journal of world business,45(2), pp.122-133.

Attitudes Toward Money free essay sample

There is one item that everyone uses and many have very strong feeling for It,money. Money can affect issues such as well-being, safety, self-esteem, and even something as personal as a career or relationship choice. There are many factors that can contribute to an individuals attitude toward money, such as economic standings, culture, upbringing, and most Importantly the Individuals personal definition of financial success.When asking about the definition of financial success, some responses will sound similar to, being debt free and providing for the family. Although, to many financial success means providing for love ones, others have a very different definition. Another popular defining Is,to live without a tight budget and be able to afford luxury items and vacations. These different expectations of money cause several different attitudes toward money. Money may be universal but the way people feel about it is not.A positive outlook on money is the other major attitude toward money. We will write a custom essay sample on Attitudes Toward Money or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Instead of focus on the bad things that come with money, the second, more positive attitude centers on the great achievements can be accomplished with the help of money. Charities are a perfectible of one of the many ways money can be used for good rather than evil. Scores of charities support a variety of causes. A popular cause is one that supports the efforts of helping poor children, not only in our home country but around the world.