Doing Business in the U.K. Essay

Business Etiquette UKThe United Kingdom (UK) is comprised of four countries: England, Scotland, Wales, and Northern Ireland. It is important not only to be aware of these geographical distinctions but also the strong sense of identity and nationalism felt by the populations of these four countries. The terms ‘English’ and ‘British’ are not interchangeable. ‘British’ denotes someone who is from England, Scotland, Wales or Northern Ireland. ‘English’ refers to people from England. People from Scotland are referred to as ‘Scots’. People from England are not likely to take offence at being called â€Å"English†, whereas a Welsh, Scots, or Northern Irish person will. Cultural Diversity Formerly a very homogenous society, since World War II, Britain has become increasingly diverse as it has accommodated large immigrant populations. The mixture of ethnic groups and cultures make it difficult to define British as looking or acting in one particular manner. People may sound British and retain the cultural heritage of their forefathers while others may become more British than someone who can trace his/her lineage to the 5th century. The fact that the nation’s favourite dish is now a curry sums up the cultural mish-mash that is modern day Britain. Doing business in the UK The British are rather formal. Many from the older generation still prefer to work with people and companies they know or who are known to their associates. Younger businesspeople do not need long-standing personal relationships before they do business with people and do not require an intermediary to make business introductions. Nonetheless, networking and relationship building are often key to long-term business success. Rank is respected and businesspeople prefer to deal with people at their level. If at all possible, include an elder statesman on your team as he/she will present the aura of authority that is necessary to good business relationships in many companies. British communication styles The British have an interesting mix of communication styles encompassing both understatement and direct communication. Many older businesspeople or those from the ‘upper class’ rely heavily upon formal use of established protocol. Most British are masters of understatement and do not use effusive language. If anything, they have a marked tendency to qualify their statements with such as ‘perhaps’ or ‘it could be’. When communicating with people they see as equal to themselves in rank or class, the British are direct, but modest. If communicating with someone they know well, their style may be more informal, although they will still be reserved. Business meetings Punctuality is a very British trait. It is especially important in business situations. In most cases, the people you are meeting will be on time. Always call if you will be even 5 minutes later than agreed. If you are kept waiting a few minutes, do not make an issue of it. How meetings are conducted is often determined by the composition of people attending. If everyone is at the same level, there is generally a free flow of ideas and opinions. If there is a senior ranking person in the room, that person will do most of the speaking. In general, meetings will be rather formal and always have a clearly defined purpose, which may include an agenda. There will be a brief amount of small talk before getting down to the business at hand. If you make a presentation, avoid making exaggerated claims. Make certain your presentation and any materials provided appear professional and well thought out. Be prepared to back up your claims with facts and figures. The British rely on facts, rather than emotions, to make decisions. Maintain eye contact and a few feet of personal space. After a meeting, send a letter summarising what was decided and the next steps to be taken. Basic British Etiquette Tips: Business Dress * Business attire is conservative. * Men should wear a dark coloured, conservative business suit. * Women should wear either a business suit or a conservative dress. Greetings * Shake hands with everyone at a meeting upon arrival. * Maintain eye contact during the greeting. Titles * Only medical doctors and the clergy use their professional or academic titles in business. * Most people use the courtesy titles or Mr, Mrs or Miss and their surname. (Mr and Mrs are words in the United Kingdom and do not require a period after them as they are not abbreviations.) * If someone has been knighted, they are called ‘Sir’ followed by their first and surnames or ‘Sir’ followed simply by their first name. * Wait until invited before moving to a first-name basis. People under the age of 35 may make this move more rapidly than older British. Business Cards * Business cards are exchanged at the initial introduction without formal ritual. * The business card may be put away with only a cursory glance. Business Gifts * Business gift giving is not part of the business culture. * If you choose to give a gift, make certain it is small and tasteful. * Good gifts include desk accessories, a paperweight with your company logo, or a book about your home country. * Inviting someone out for a meal can be viewed as a gift. http://www.kwintessential.co.uk/etiquette/doing-business-uk.html http://books.google.com.my/books?id=1ccPcVjaRGMC&pg=PA30&lpg=PA30&dq=how+to+bargain+with+britain&source=bl&ots=FB64L7Wk6F&sig=6QVjUrzk4AcQ2OuUezZuyL64Mlw&hl=en&sa=X&ei=2kALUeu0BcKPrgfjooH4Cw&ved=0CHAQ6AEwCA#v=onepage&q=british&f=false

The Hunters: Moonsong Chapter Eighteen

The next morning, Elena woke to find Damon gone, his blanket folded neatly at the foot of her bed. Meredith was dressing for a morning workout, sleepy-eyed and silent, and she only nodded as Elena passed her; Elena had learned long ago that Meredith was useless for conversation before she'd had her first cup of coffee. Bonnie, who didn't have class until that afternoon, was only a lump under her covers. Surely Meredith would have said something if she had noticed Damon on the floor, Elena thought as she dropped in at the cafeteria to grab a muffin before class. Maybe Damon hadn't stayed. Elena bit her lip, thinking about that, kicking little stones on her way to class. She had thought he would stay, that he would want to try and keep her safe. Was it right that she liked that and that she felt more than a twinge of hurt at the idea that he had left? She didn't want Damon to be in love with her, did she? Wasn't part of the reason she put her romance with Stefan on hold so that she and Damon could get each other out of their systems? But†¦ I am a lousy person, she realized. Musing on her own lousiness took Elena al the way into her History of the South class, where she was doodling sadly in her notebook when Professor Campbel – James – came in. Clearing his throat loudly, he walked to the front of the class, and Elena reluctantly pul ed her attention away from her own problems to pay attention to him. James looked different. Unsure of himself, Elena realized. His eyes didn't seem quite as bright as usual, and he appeared to be somehow smal er. â€Å"There's been another disappearance,† he said quietly. An anxious babble rose up from the rest of the class, and he held up his hand. â€Å"The victim this time – and I think we can say at this point that we're talking about victims, not students simply leaving campus – is, unfortunately, a student in this class. Courtney Brooks is missing; she was last seen walking back to her dorm from a party last night.† Scanning the class, Elena tried to remember who Courtney Brooks was. A tal , quiet girl with caramel-colored hair, she thought, and spotted the girl's empty seat. James raised his hand again to quel the rising clamor of frightened and excited voices. â€Å"Because of this,† he said slowly, â€Å"I think that today we must postpone continuing our discussion of the colonial period so that I can tel you a little bit about the history of Dalcrest Col ege.† He looked around at the confused faces of the class. â€Å"This is not, you see, the first time unusual things have happened on this campus.† Elena frowned and, looking at her classmates, saw her confusion mirrored on their faces. â€Å"Dalcrest, as many of you doubtlessly know, was founded in 1889 by Simon Dalcrest with the aim of educating the wealthy sons of the postwar Southern aristocracy. He said that he wanted Dalcrest to be considered the ‘Harvard of the South' and that he and his family would be at the forefront of intel ectualism and academia in the soon-to-begin new century. This much is frequently featured in the official campus histories. â€Å"It's less Wellknown that Simon's hopes were dashed in 1895 when his wild twenty-year-old son, Wil iam Dalcrest, was found dead with three others in the tunnels underneath the school. It was what appeared to be a suicide pact. Certain materials and symbols found in the tunnels with the bodies suggested some ties to black magic. Two years later Simon's wife, Julia Dalcrest, was brutal y murdered in what is now the administration building; the mystery surrounding her death was never solved.† Elena glanced around at her classmates. Had they known about this? The col ege brochures mentioned when the school was founded and by who, but nothing about suicides and murders. Tunnels underneath the school? â€Å"Julia Dalcrest is one of at least three distinct ghosts who are rumored to haunt the campus. The other ghosts are those of a seventeen-year-old girl who drowned, again under mysterious circumstances, when visiting for a weekend dance in 1929. She is said to wander wailing through the hal s of McClel an House, leaving dripping pools of water behind her. The third is a twenty-one-year-old boy who vanished in 1953 and whose body was found three years later in the library basement. His ghost has reportedly been seen coming in and out of offices in the library, running and looking backward in terror, as if he is being pursued. â€Å"There are also rumors of several other mysterious occurrences: a student in 1963 disappeared for four days and reappeared, saying he had been kidnapped by elves.† A nervous giggle ran through the class, and James waved a reproving finger at his audience. He seemed to be perking up, sWelling back to his usual self under the influence of the class's attention. â€Å"The point is,† he said, â€Å"that Dalcrest is an unusual place. Beyond elves and ghosts, there has been a plethora of documented unusual occurrences, and rumors and legends of far more spring up around campus every year. Mysterious deaths. Secret societies. Tales of monsters.† He paused dramatical y and looked around at them. â€Å"I beg you, do not become part of the legend. Be smart, be safe, and stick together. Class dismissed.† The students glanced at one another uneasily, startled by this abrupt dismissal with stil more than half an hour left in the class. Regardless, they started to gather their possessions together and trickle out of the room in twos and threes. Elena grabbed her bag and hurried to the front of the room. â€Å"Professor,† she said. â€Å"James.† â€Å"Ah, Elena,† James said. â€Å"I hope you were paying attention today. It is important that you young girls be on your guard. The young men, too, real y. Whatever affects this campus does not seem to discriminate.† Up close, he looked pale and worried, older than he had at the beginning of the semester. â€Å"I was very interested in what you said about the history of Dalcrest,† Elena said. â€Å"But you didn't talk about what's happening now. What do you think is going on here?† Professor Campbel ‘s face creased into even grimmer lines, and his bright eyes gazed past her. â€Å"Well, my dear,† he said, â€Å"it's hard to say. Yes, very hard.† He licked his lips nervously. â€Å"I've spent a lot of time at this school, you know, years and years. There's not a lot I wouldn't believe at this point. But I just don't know,† he said softly, as if he was talking to himself. â€Å"There was something else I wanted to ask you,† Elena said, and he looked at her attentively. â€Å"I went to see the picture you told me about. The one of you and my parents when you were students here. You were al wearing the same pin in the picture. It was blue and in the shape of a V.† She was close enough to James that she felt his whole body jolt with surprise. His face lost its grim thoughtfulness and went blank. â€Å"Oh, yes?† he said. â€Å"I can't imagine what it was, I'm afraid. Probably something Elizabeth made. She was always very creative. Now, my dear, I real y must run.† He slipped past Elena and made his escape, hurrying out of the classroom despite a few other students' trying to stop him with questions. Elena watched him go, feeling her own eyebrows going up in surprise. James knew more than he was saying, that was for sure. If he wouldn't tel her – and she wasn't giving up on him just yet – she'd find out somewhere else. Those pins were significant, his reaction proved that. What kind of mystery could be tied to a pin? Had James said something about secret societies? â€Å"After my parents died,† Samantha told Meredith, â€Å"I went to live with my aunt. She came from a hunter family, too, but she didn't know anything about it. She didn't seem to want to know. I kept on doing martial arts and everything I could learn by myself, but I didn't have anyone to train me.† Meredith shone her flashlight into the dark bushes over by the music building and waved the beam around. Nothing to see except plants. â€Å"You did a good job teaching yourself,† she told Samantha. â€Å"You're smart and strong and careful. You just need to keep trusting your instincts.† It had been Samantha's idea to patrol the campus together after sundown, to check out the places where the missing girl, Courtney, had been spotted last night, to see if they could find anything. Meredith had felt powerful at the beginning of the evening, poised to fight, with her sister hunter beside her. But now, even though it was interesting to patrol with Samantha, to see the hunter life through her eyes, it was starting to feel like they were just wandering around at random. â€Å"The police found her sweater somewhere over here,† Samantha said. â€Å"We should look around for clues.† â€Å"Okay.† Meredith restrained herself from saying that the police had already been through here with dogs, looking for clues themselves, and there was a good chance they had found anything there was to find. She scanned the flashlight over the grass and path. â€Å"Maybe we'd be better off doing this during the day, when we can see better.† â€Å"I guess you're right,† Samantha said, flicking her own flashlight on and off. â€Å"It's good that we're out here at night, though, don't you think? If we're patrol ing, we can protect people. Keep things from getting out of control. We walked Bonnie home last night and kept her safe.† Meredith felt a flicker of anxiety. What if they hadn't come along? Could Bonnie have been the one who disappeared, instead of Courtney? Samantha looked at Meredith, a little smile curling up the corners of her mouth. â€Å"It's our destiny, right? What we were born for.† Meredith grinned back at her, forgetting her momentary anxiety. She loved Samantha's enthusiasm for the hunt, her constant striving to get better, to fight the darkness. â€Å"Our destiny,† she agreed. Off across the quad, someone screamed. Snapping into action without even thinking about it, Meredith began running. Samantha was a few steps behind her, already struggling to keep up. She needs to work on her speed, cool y commented the part of Meredith that was always taking notes. The scream, shril and frightened, came again, a bit to the left. Meredith changed direction and sped toward it. Where? She was close now, but she couldn't see anything. She scanned her flashlight over the ground, searching. There. On the ground nearby, two dark figures lay, one pinning the other to the ground. Everyone froze for a moment, and then Meredith was racing toward them, shouting â€Å"Stop it! Get off! Get off!† and a second later, the figure that had been pinning the other down was up and running into the darkness. Black hoodie, black jeans, the note taker said calmly. Can't tell if it's a guy or a girl. The person who'd been pinned was a girl, and she flinched and screamed as Meredith ran past her, but Meredith couldn't stop. Samantha was behind her so she could help the girl. Meredith had to catch the fleeing figure. Her long strides ate up the ground, but she wasn't fast enough. Even though she was going as fast as she could, the person in black was faster. There was a glimpse of paleness as the person looked back at her and then melted into the darkness. Meredith ran on, searching, but there was nothing to be found. Final y, she halted. Panting, trying to catch her breath, she swept the beam of the flashlight over the ground, looking for some clue. She couldn't believe she had failed, that she had let the attacker get away. Nothing. No trace. They had gotten so close, and stil , al she knew was that the person who attacked this girl owned black clothes and was an insanely fast runner. Meredith swore and kicked at the ground, then pul ed herself back together. Approximating calmness, she headed back toward the victim. While Meredith was chasing the attacker, Samantha had helped the girl to her feet, and now the girl was huddled close to Samantha's side, wiping her eyes with a tissue. Shaking her head at Meredith, Samantha said, â€Å"She didn't see anything. She thinks it was a man, but she didn't see his face.† Meredith clenched her fists. â€Å"Dammit. I didn't see anything either. He was so fast†¦Ã¢â‚¬  Her voice trailed off as a thought struck her. â€Å"What is it?† Samantha asked. â€Å"Nothing,† Meredith said. â€Å"He got away.† In her mind, she replayed that momentary glimpse of pale hair she had seen as the attacker looked back at her. That shade of pale – she had seen it somewhere very recently. She remembered Zander, his face turned toward Bonnie's. His white-blond hair was that same unusual shade. It wasn't enough to go on, not enough to tel anyone. A momentary impression of a color didn't mean anything. Meredith pushed the thought away, but, as she gazed off into the darkness again, she wrapped her arms around herself, suddenly cold.

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The Problem of Studying Abroad Research Proposal

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Reality Therapy - Essay Example Therapy educators carry out research on what multiculturalism is rather than how to endorse it. There is also a need to look into clinical practice in the section of multicultural therapy. Theoretical orientations significantly affect many counsellors’ helping techniques. Even if the assumptions of therapists around the world are often independent of the dominant theoretical orientations, some values underlie these theories and can easily affect the counselling interaction. Furthermore, cultural encapsulation is an issue for therapists and the entire theoretical orientations. Culturally skilled therapists should be active in becoming well aware of their individual assumptions about values, nature, biases and other characteristics of human beings. It is also crucial to have a good relationship with the clients. Roger’s person-cantered theory states that all human beings have the ability to become wholly functioning. It provides an environment where individuals can fully explore themselves. With the help of therapists, clients are made to be open and willing to talk about their problems as well as having the ability to trust themselves. In this therapy, the therapist is an active listener, and the statements made by the clients are reflected as well as clarified. The therapist has a responsibility of providing a positive regard in order to assist clients in the process of self-exploration. It uses active listening and good in respecting values of the clients. This makes the clients accept and understand themselves more. It is, therefore, suitable for multicultural counselling. Additionally, cultural diversity is welcomed in this theory, and it is liberal. It is a favourable approach to use when a culture of people is diverse. Because the client have the responsibility to assume the d irection of the therapy, and this may not be appropriate if

Devil in the White City Book Summary Essay Example for Free

Devil in the White City Book Summary Essay The Devil in the White City, written by Eric Larson, is a gripping novel of two polar opposite men during the building of the World’s Fair in Chicago. It surrounds two characters, both extremely talented at their ‘craft’ and perfectly depicts the rush for industrialization in this time. It follows the lives of Daniel H. Burnham, the fairs brilliant director of works and the builder of many of the countrys most important structures, and Henry H. Holmes, a serial killer who built a hotel turned torture chamber complete with a dissection table, gas chamber, and crematorium. This story is so interesting because it details true life events and uses real life characters such as Susan B. Anthony, Thomas Edison, and Archduke Franz Ferdinand. Meshing these two characters together enhances the intensity of the story and truly shows the effect of the building of the World’s Fair on Chicago in late 1880 and early 1890. The book begins in 1890, when Chicago is a candidate to hold the World’s Fair, or the World’s Columbian Exposition, meant to commemorate Columus’ arriving in America. Daniel Burnham was responsible for building the White City. He overcame multiple crushing obstacles and personal tragedies to make the Fair the magical, awe-inspiring event that it was. He brought together some of the greatest architects of the Gilded Age such as Charles McKim, George Post, Richard Hunt, Frederick Law Olmsted, and others, and convinced them of the importance of the Fair. Burnham somehow got them to work together to achieve what many considered to be an impossible project in an astonishingly short amount of time. The result of their strenuous hard work ended in a beautiful even that brought almost 40 million people to the city of Chicago and transformed the shoreline of Chicago forever. A few miles away, in the suburb of Englewood, a different kind of story was unfolding. Dr. H. H. Holmes had built a boarding house turned torture chamber on one full city block. Holmes was described as a handsome, blue-eyed charmer who had away with women. He would seduce, mesmerize, and intrigue them, all the way up until the pint at where he killed them. He had many ways of torture and death, such as smothering them with ether-soaked rags, of locking them in an air tight chamber and releasing poisonous gas into them. After killing his victims, Holmes would often dissect them; removing their skin, selling their skeletons to be used in medical school. He truly was the worst victim, due to his sociopathic mind that prayed on the vulnerable and found a certain unexplainable joy in the art of killing.

History Of Birla Sun Life Insurance Commerce Essay

History Of Birla Sun Life Insurance Commerce Essay Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable value proposition to customers. Sun Life Financial and its partners today have operations in key markets worldwide, including India, Canada, the United States, the United Kingdom, Hong Kong, Philippines, Japan, Indonesia, China and Bermuda. It was the first player in the industry to sell its policies through the Bank assurance route and through the internet. It was also the first private Sector player to introduce a pure term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. Aditya Birla Group and currently in charge of BSLI expressed, The Birla Sun Life Insurance business distribution network is national in nature covering more than 1000 points across the country .We have made our entry in several tier I and tier II towns. It is therefore very important for the brand to connect at the grass root level and create trust. They believe that our association with Kapil Dev as our brand ambassador will help us create this connects in a shorter period of time. We therefore now have two strong connects our parent brand Birla and our brand On 26 November 2006, Birla Sun Life hosted the annual golf tournament at the Chembur Golf Club in Mumbai where Kapil Dev participated. About the Aditya Birla Group The Aditya Birla Group has a turnover close to Rs.38, 000 crore (as on 31 March 2008) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. With over 75 business units spanning the South East Asian belt, Africa, Canada and the UK among others, it is reckoned as Indias first multinational corporation. The group is anchored by 72,000 employees and has seven lakh shareholders, with a market capitalization of Rs.53, 400 crore. Introduction- When ever there is uncertainty there is risk. We do not have any control over uncertainties which involves financial losses. The risk may certain events like death pension retirement or uncertain events like theft, fire accident, etc. Birla sun life Insurance is financial services for collecting the savings of public and providing them with risk coverage The main function of Birla sun life insurance is to provide the protection against the possible chance generating losses. It eliminates the worries and miseries of losses by destruction of property and death. It also provided the capital to society as the fund accumulated to be invested in productive heads. OBJECTIVES à ¢Ã… ¾Ã‚ ¢To determine and analyze the Market Potential of the Birla Sun Life Insurance Company. à ¢Ã… ¾Ã‚ ¢To determine whether the customers are satisfied with the policies of the company. à ¢Ã… ¾Ã‚ ¢To know the customer awareness regarding the Birla-sun life insurance and its products. à ¢Ã… ¾Ã‚ ¢To study and determine the competitor position in the market. à ¢Ã… ¾Ã‚ ¢To know the future plans of the people for buying the policies. à ¢Ã… ¾Ã‚ ¢Proper understanding and analysis of life insurance industry. VISION To be a world-class of financial security to individuals and corporate and to be amongst the top three private sectors life insurance companies in India. MISSION To be the first preference of our customers by providing innovative need based life insurance and retirement solutions to individual as well as corporate. Well -trained professionals through a multi channel distribution network and superior technology will make these solutions available. Our endeavor will be to provide constant value addition to customers throughout their relationship with us, within the regulatory framework. We will provide career development opportunities to our employees and the highest possible returns to our shareholders Problems in the organization, It is clear that BIRLA SUN LIFE INSURANCE COMPANY is a unit- linked insurance, which is basically involved in the life insurance solutions. There are number of problem which are as follows- 1) The main problem of the organization is that the it is not government organization like a life insurance solutions. 2) The second main problem is that lack of believes on the organization by the people. 3) The third problem assigned by the organization that there are the few branches of the BRILA SUN LIFE INSURANCE SOLUTION. 4) Another problem is that the lack of good quality, good skill insurance advisors. Competitors:- à ¢Ã¢â€š ¬Ã‚ ¢Life insurance corporation à ¢Ã¢â€š ¬Ã‚ ¢Max network life insurance à ¢Ã¢â€š ¬Ã‚ ¢MetLife insurance à ¢Ã¢â€š ¬Ã‚ ¢Aviva life insurance à ¢Ã¢â€š ¬Ã‚ ¢Bharathi Axa life insurance à ¢Ã¢â€š ¬Ã‚ ¢Bajaj Allianz life insurance à ¢Ã¢â€š ¬Ã‚ ¢Tata AIG life insurance ICICI Prudential Life Insurance à ¢Ã¢â€š ¬Ã‚ ¢Reliance life insurance à ¢Ã¢â€š ¬Ã‚ ¢Kotak Mahindra life insurance MARKETING MIX- PRODUCTS- Life is unpredictable. But in face of adversity, our responsibilities towards our parents, children and loved ones need not be compromised. Insurance planning equips you to smooth out the uncertainties and adversities that life might send your way, so that the best that life has to offer, secure in the knowledge that your beloved ones are well provided for. BSLI offers a complete range of insurance products 1. Protection Plans 2. Savings Plans 3. Child Plans 4. Investment Plans 5. Retirement Plans 6. Group Plans 7. Rural Plans PRICING POLICY OF THE COMPANY: KEEP TRACK OF YOUR POLICY FUND : Birla sun life insurance sends you an annual policy statement on every policy anniversary to keep you completely informed on the performance of our various funds based on the unit price will be available on our website ELECTRONIC CLEARING SERVICE (ECS) : The ECS is a convenient and hassle- free method of paying premiums through an electronic debit to your bank account. INVESTMENT FUND PORTFOLIO : Upper limit of %asset in protector builder enhancer Government and government approved 85% 70% 55% Securities Rated corporate bonds (AA 30% 30% 30% and above) Money market and other 20% 20% 20% Liquid assets Infrastructure sectors as 25% 25% 25% defined by the IRDA Listed equities 10% 20% 35% FEES AND CHARGES : The policy loading fee* is an up-front charge and varies as per the premium payment mode and the policy year as given under Policy year Single 5-pay 10-pay 15-pay or greater 1 3% 29.9% 54.6% 65% 2 N/A 5.0% 7.5% 7.5% 3 N/A 5.0% 7.5% 7.5% 4+ N/A 5.0% 5.0% 5.0% As a percentage of premium. The policy-loading fee for top up wills 2.0 percent. Charges- . Charges towards the cost of insurance will be deducted by cancellation of units at the prevailing unit price on a monthly basis. The annual insurance charges per thousand-face amount for sample ages for healthy lives are as follows: Sex/age (yrs) 20 30 40 50 60 Female 0.90 1.16 1.66 4.03 10.66 Male 1.02 1.17 2.15 5.53 13.73 An investment management frees not exceeding 1.5% p.a. of the fund will be charged by adjustment of daily unit prices. Currently this fee is 1% p.a. The following administration fees will be deducted by canceling units on a monthly basis. (a) Rs. 22 per month (b) An annual charge of Rs. 2.88 per thousand face amount will be deducted in the first 10 years of the policy expect in the second year where it will be Rs. 15.24 per thousand face amount. From the 11the year onwards this annual charge will increase subject to a maximum of 3.75%per year. A monthly rider deduction will apply by cancellation of units on a monthly basis based on the equivalent monthly rider premium payable over the entire coverage benefit period. If rider deductions are not guaranteed, then the minimum policy values of your policy might be affected due to any change in the rates of the rider coverage. FUND SWITICHING CHARGES In a year, one switch between investment fund options is free. For every additional switch, a charge of Rs.100 will be levied. Promotions Birla sun life promotes the sales through the marketing communications activities like personal selling, advertising, or publicity. The object of sales promotions is to induce the desired result from potential customers, trade intermediaries or the sales people. The Birla sun life provides- Training to employees More incentives to customers, gifts, rebates, direct mail, E-marketing and maintain public relations. PLACE Where the agents of Birla sun life insurance is meet to customers and providing the knowledge related services like premium, interest, etc. SERVICES MARKETING ENVIRONMENT- POLITICAL LEGAL ENVIRONMENT- The services of Birla sun life is more closely regulated than goods like taxes, restrictions on promotions, price discriminations etc. Economic environment- Changing the life style, consumer needs, and advancements of technologies also affected the Birla sun life insurance because after changing the new technology the lot of accidents and deaths has adverse affect of insurance. Due to globalizations the lot of competitors in market so it is very difficult to attract the new customer and gaining the profits. Socio-culture environment- Due to change the income and higher education change the mind of consumers then increases the investments in insurance sectors so the private players like Birla sun life insurance growth is very high comparatively previous years. Technology environment- Due to change the technology the Birla sun life insurance pattern is also change like insurance of profit and loss account insurance of new machinery etc. , Blue print of Birla sun life  Physically visits customers-water coolerwashing room Explain policy in detailwait for response registers to customers with insurance companycheck the premium paymentsChecks and verifies the portal addresses Quality concern- Hire the right people Develop the people through services quality. Provided the needed support to customer Retain the best employee The quality of customer servicing, responsiveness, a personal touch, making him feel special are some of the factors that will have a bearing on the relationship with the customer and a happy customer helps open more doors. Good offerings that meet the customer needs, good advice followed by good service will enhance the business Integrated marketing communication- 1. Advertising: The tool can get your messages to large audiences efficiently through such avenues as radio, TV, Magazines, Newspapers (ROP), Internet, Billboards and other mobile technological communication devices. This method can efficiently reach a large number of consumers, although the costs may be somewhat expensive. 2. Sales Promotion: This tool is used through coupons, contests, samples, premiums, demonstrations, displays or incentives. It is used to accelerate short-term sales, by building brand awareness and encouraging repeat buying. 3. Public Relations: This integrated marketing communications tool is initiated through public appearances, news/press releases or event sponsorships, to build trust and goodwill by presenting the product, company or person in a positive light. 4. Direct Marketing: The BIRLA SUN LIFE has direct marketing through email, mail, catalogs, encourage direct responses to radio and TV, in order to reach targeted audiences to increase sales and test new products and alternate marketing tactics. 5. Personal Selling: Setting sales appointments and meetings, home parties, making presentations and any type of one-to-one communication, to reach the customers and strengthen relationship with Birla sun life, Employee role in service delivery Listen to customers Obtain customer feedback Provide excellence services to customers Getting closer to customer Customer role in services delivery Without the contact of customers the services could not deliver so the customer is very important role for services delivery he physical presences and participation is required of customers .The customer as productive resource; The customer as contributor to quality, satisfaction and value; and The customer as competitor to the service organization Word of mouth advertising. A happy and satisfied customer is much more likely to send more customers your way Managining waiting lines- When the demand exceeds the supply then the Birla sun life has managing the waiting lines through different ways- How long do your customers expect to wait? Set operational objectives based on what is acceptable. This is especially important when the waiting time will be longer than normal. Tell them why the waiting time is longer than normal and what you are doing to alleviate the queue f a group of customers needs something that can be done very quickly, give them a special line so they do not have to wait for the slower customers Inform customers of times when they usually would not have to wait; also tell them when the peak periods are-this may help to smooth the load Develop plans for alternative ways to serve your customers. Where appropriate, develop plans for automating or speeding up the process in some manner. This is not o say you want to eliminate personal attention; some customers expect this. Expectation of the consumers Hence old as well as new insurers will have to offer innovative products to the consumers. The consumers are particularly expecting good pension plans, health insurance, and term insurance and investment products like unit-linked insurance, from the life insurers. Similarly the consumers expect innovative products from the general insurers for managing healthcare, property insurance, accident insurance and other products related to the personal line of insurance Increase exposure through media (TV, Radio and Internet). In this case, the traditional model is more generic and there is a need to reinvent the messages based on target groups to achieve the business Delivering Service through Intermediaries An insurance intermediary is a person or a company that helps you in buying insurance. Insurance agents, insurance brokers and financial advisers are insurance intermediaries. On the other hand, a intermediary is someone who solicits tactful business or invites potential customers to enter into tactful contracts with operators. They are also known as tactful agents and tactful brokers Reason of delivering services through intermediaries of Birla sun life. Exhibit good knowledge of the products and services offered by the insurance company or tactful operator. (In addition, insurance brokers and financial advisers are expected to exhibit good knowledge of products available in the market). Make an effort to understand your insurance or tactful needs and assist you in the choice of insurance or tactful products and services. Explain to you clearly the nature of information required in the proposal form and also the importance of disclosing material facts. Explain clearly the main terms and conditions of the proposed insurance contract or tactful plan so as to help you understand what you are buying. Draw attention to any restrictions and exclusions applicable under the proposed insurance contract or tactful plan. Follow up and provides continuous service to you, such as renewal of policy and provide updates on relevant new products. Provide assistance when you are making claims against the insurance company or tactful operator. It Protect your interests and rights:    Deal only with registered/licensed intermediaries. Deal with intermediaries with proven track record or those with good referral from friends and relatives. Be truthful about yourself and declare material facts. Never be persuaded to sign on blank forms or anything you dont understand. Never be persuaded to lapse an existing policy to buy a new life policy. Ensure that you understand the products you are buying. Read the policy benefits and terms carefully, and compare them with other similar products. Shop around to get value for money. Buy only what you need and what you can afford. Ask for sales materials, for example the sales illustrations, product pamphlets or customer fact find form (for life products only), and keep these documents safely. When in doubt, always ask for more information from the intermediaries or seek clarification from the insurance company or tactful operator that offers the insurance or tactful products. Ask for a receipt as the proof of premium payment and keep it safely. Services Recovery strategies must contain: objective measurable criteria for delisting the species site-specific actions Estimates of the time and cost for implementing the recovery plan. Under stand there relationship between customer expectation and services recovery actions Understand the services recovery paradox Known the elements of an effective services recovery strategy manage the services failure effectively Factor influences the customer the customer response to services recovery Design a services recovery strategy LIMITATIONS OF INSURANCE Lack of awareness among the people This is the biggest limitation found in this sector. Most of the people are not aware about the importance and the necessity of the insurance in their life. They are not aware how useful life insurance can be for their family members if something happens to them. Perception of the people towards Insurance sector People still consider insurance just as a Tax saving device. So today also there is always a rush to buy an Insurance Policy only at the end of the financial year like January, February and March making the other 9 months dry for this business. Insurance does not give good returns Still today people think that Insurance does not give good returns. They are not aware of the modern Unit Linked Insurance Plans which are offered by most of the Private sector players. They are still under the perception that if they take Insurance they will get only 5-6% returns which is not true now days. Nowadays most of the modern Unit Linked Insurance Plans gives returns which are many times more than that of bank Fixed deposits, National saving certificate, Post office deposits and Public provident fund. Lack of awareness about the earning opportunity in the Insurance sector People still today are not aware about the earning opportunity that the Insurance sector gives. After the privatization of the insurance sector many private giants have entered the insurance sector. These private companies in order to beat the competition and to increase their Insurance Advisors to increase their reach to the customers are giving very high commission rates but people are not aware of that. Increased competition Today the competition in the Insurance sector has become very stiff. Today each and every company is trying to increase their Insurance Advisors so that they can increase their reach in the market. This situation has created a scenario in which to recruit Birla sun life insurance Advisors and to sell life Insurance Policy has became very- very difficult. FINDINGS à ¢Ã… ¾Ã‚ ¢To be successful in marketing of insurance products, the entire business scenario has to be taken into account. à ¢Ã… ¾Ã‚ ¢During the study to be found that majority of people are aware of life insurance sector. à ¢Ã… ¾Ã‚ ¢During the survey it was observed that major source of information for consumer are television and newspaper and least preference are given to magazines, agents and friends. à ¢Ã… ¾Ã‚ ¢Attractive schemes and brand image are the most important factor that influences the buying behavior of the consumers. Majority of respondents will shift to any other insurance company. à ¢Ã… ¾Ã‚ ¢People are not satisfied with the opted insurance. It was found that the reason for the dissatisfaction of consumer is high premium, delay in claim settlement and poor after sale service. à ¢Ã… ¾Ã‚ ¢So to achieve a greater insurance penetration, insurance sector companies have to create a more vibrant and competitive industry, with greater efficiency, choice of products and value for customers. SUGGESTIONS ) Information regarding new product should be provided to the customers. 2) The company should find out the no. of people who are not having any of the insurance plans through an intensive market research and motivate them to get insured. 3) At some level Company should provide information to the customers about the charges of the policy. 4) Company should target each and every class of the society. 5) Charges should be low of the policies . 6) Annual premium should be reasonable.7) BSLI Company should work in systematic way. RECOMMENDATIONS 1) Even though most of the policy holders are satisfied with policies, plans they have but some new attractive insurance plans should be introduce to bind them not to switch over to other companies insurance plans. 2) The company should find out the no. of people who are not having any of the insurance plans through an intensive market research and motivate them to get insured. 3) Leveraging technology to service customers quickly, efficiently and conveniently. 4) Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to our policyholders. 5) Company should target each and every class of the society 6) Company should provide full information to the customers before targeting so they can take interest. CONCLUSION The market potential for private insurance companies is found to be greater in the long run as most of the Indians are of the opinion that, private insurance companies would be able to perform well in the future. The private and foreign insurance companies have to take immediate steps in appointing more number of agents and/or advisors in addition to the employees as it has been found out that agents are the best channel to reach the general public regarding selling of insurance products. The private and foreign insurance companies have to concentrate on the factors like Prevention of Loss, Assured Returns and Long term Investment. They can also focus on an insurance amount of Rs. 1 2 lakhs with money back policies. Hence, the market has potential. The private and foreign insurance companies that are taking immediate steps can tap it easily rapidly

The importance of financial intermediaries

The importance of financial intermediaries Introduction Nowadays financial intermediations play the important role in the economy. Firms and individuals can find sources to finance its new project. Also lender can invest their money in secure positions. Financial intermediations raise funds from the depositors for short term and lend them to the borrower for long term. The main job of those institutions is to provide finance through taking extra risk. So there are three parties engaged in those investments process. The lender or the depositor could lend his money on secure way and low cost. The borrower can find the finance of his project. The financial intermediation manages the process of those transactions. The question now is that why do lender and borrower need financial intermediation to manage this relationship. Why do not they do it directly without a third party? The answer of this question needs to know the main reasons why financial intermediations exist. There are three reasons explain this issue. First reason is that, the dif ferent requirement of those two parties. Second reason is the transaction cost. Finally is the asymmetric information. In this assay we will focus on the asymmetric information as a reason of the existence of the financial intermediation. Also, in this essay I will first explain the Asymmetric information, adverse selection and moral hazard. Then I will brief some empirical study about the issue of the effect of Asymmetric information to represent the importance of this issue. Also, I will explain the effect of the transaction cost because it has relation with the information cost to avoid unobserved information. Finally, I will explain the financial intermediary natural and their role in guiding the financial process. My conclusion refers to the importance of financial institutions to avoid asymmetric information. I am also touched upon the difference between the risk transferring and risk sharing and the fails of those conventional institutions in the last financial crisis. I reco mmended Islamic industry is an alternative to those convectional ones which can be able to withstand during the crisis because they works as a partner with their consumer and they share the risks with them. The impact of Asymmetric information, adverse selection, and moral hazard on the lender. It is important to the lender to have the good quality and quantity information about the borrower to be in the save side. When the information is poor that means there will be risk exist. Asymmetric information is an important concept in finance and needs to be understood. It means said Bucle (1998); the information refers to the situation where one party has more information than the other party. This is a problem with most types of transactions, financial or non financial transactions. In the Case of a financial transaction, the borrower will have more information about the Risks and return of the investment project for which funds are being borrowed and the lender do not have the same information the borrower does. So it may leads to actual conflict. Asymmetric information more affect lender, before he gives loan to the borrower and after. Adverse selection is the result of asymmetric information which means a bad selection with high risk of default. The adverse selection refers to the borrower with adverse return. Also, the second result of asymmetric information is moral hazard continued Bucle (1998). The lender will face this particular problems, in which always happened after lending. This problem is described as bad behaviour that accurse when the lender take the money from the lender and because the money is not belonged to him he will use it badly. He will use it for risky activities. As a result the lender will be at risk of losing his money. Karlan and at al (2005): investigate the moral hazard and adverse selection in credit market in South Africa. The random sample of 58000, of male and female, direct offers mail used by a larger lender in South Africa by three classes. First, offer interest rate. Second, contract interest rate which is equal or less the offer interest rate and revealed to more than 4000 borrowers that agreed to the first offer rate. Finally, a dynamic repayment with a good price on future loans for borrowers still in a good positions. These three stages supported by full information given to the lenders. The study setup distinguishes adverse selection from moral hazard impact on repayment. The result found that approximately 20% of default is because asymmetric information problems. Another empirical study of the impact of asymmetric information conducted by Gaul and at al (2008) investigate the effect of unobservable information on corporate loan market, and if the borrower gives the lender the incentive to reduce the asymmetric information effects. The study used a regression to give evidence of a positive relationship between some measure of loan borrower by lender, contract terms, negotiating loans, and the amount of non- publicly information. The study found that, moral hazard and adverse selection problems do exist in the corporate loan market. As a result of asymmetric information, adverse select, and moral hazard is the transaction cost. So what do we mean by transaction cost? Bucle (1998) counts four types of transaction costs which are as follows. Firstly, search cost, the borrower and the lender will be affected by high cost of searching for accurate information about each other to avoid risks associated to default and loss money. Also, verification costs, which mean the cost that accrues when lender tries, ensure that information he has is true. Furthermore, monitoring costs, the lender after given loan to the borrower should follow the borrower activities to make sure he will be able to make payment as agreed. Finally, enforcement costs, in case of default the lender wants to ensure that the lender can be enforced to get the money back. The importance of the financial intermediaries The financial intermediation is the entity which in a med position between two parties and manage the financial transaction between them. Commercial banks, investment banks, stock investing services, insurance providers, etc are examples of the financial intermediation. So we can imagine the importance of those entities. For example banks, it does the important role. Banks obtain funds from depositors and then lend those funds to borrowers. Also provide financial services said Fraser and et al (2001). Also individual as lender can get fixed income at cheaper cost. Also, when the lender uses the financial intermediary he wont need to bear those costs. He does not have to spend money and time for collecting information to find good borrower. Moreover, he can get his money back at any time he want it. Also he does not have to bear risks of default the borrower and other risks because the risks are borne by the bank. Always banks have information and policy system about their clients and diversify their investment in case mismatching the maturities of their assets and liabilities said Saunders (2008). Saunders and et al (2008) said because of costs of monitoring, liquidity, and price risk, as well as for some other reasons, savers often prefer to hold the financial claims issued by FIs rather than those issued by corporations. Diamond (1984) developed a model of delegate monitoring. Financial intermediary acts as monitor by promising the lender a fixed income and monitor the borrower activity to fulfil the lender the promise said Allen at al (2008). Another model developed by Boot and Thakor (1997) about delegated monitoring. They assume that, there are three kind of information. First, incomplete and unclear information about the future activity that the borrower is going to do and they suggest the solution is using financial market to obtain this information. Second the lender does not have information about the lender activity in term of invest the money in safe or risky project, and they suggest the solution by intermediary. Finally, borrower might have the chance to invest in a risky project and also they suggest the solution by intermediary said Allen at al (2008). Conclusion and recommendations: In conclusion, financial intermediaries do not exist by chance the economy has found them. As it shows above it exist because the need of the two separate parties and these parties represent the structure of the economy in any country. Borrower wants to have finance in his new project. Also lender need to be safe from asymmetric information, adverse selection of borrower and moral hazard and it is the financial intermediarys main job. To collect information about the borrower is not an easy task. It contains high cost for the small lenders which prevents him to invest his money. Also, he cannot give his money to the wrong person or firm. Financial intermediary could do this job on behalf of the investor. This job can be done by financial intermediaries in a low cost because of the large number of the customer they deal with. Also they act as specialist to this kind of financial transactions. However, financial intermediary is not always the haven. It has also risks of default, credit risk, liquidity risk, and etc. As we experience in the last financial crisis and the collapse of the biggest financial institutions around the world as a result of transferring risk. I think Islamic banks are the solution. They share risks instead of transfer them. Every party have to bear part of the risk to be able to continue. Transferring risks are not the solution, which means party will have nothing and other will have everything as a result part of the economy, will continue and the other part will collapse. Lets imagine the collapse party is the banks. So, the crisis will extend to the economy as a whole.

What Title? Essay -- essays research papers

A Clockwork Orange : Chosen Evil vs. Forced Morality   Ã‚  Ã‚  Ã‚  Ã‚  What becomes of a man stripped of his free will? Does he continue to be a man, or does he cease? These are questions that Anthony Burgess tries to answer. Written in the middle of Burgess’ writing career, A Clockwork Orange was a reflection of a youth subculture of violence and terrorization that was beginning to emerge in the early 1960s. The novel follows Alex, a young hoodlum who is arrested for his violent acts towards the citizens of London. While incarcerated, Alex undergoes a technique in which his free will towards acts of a barbaric - or even harmless - nature is taken from him, then is forced to face the world once more as a machine-like creature. In A Clockwork Orange, Burgess explores the controversial idea of whether it is better to be forced into morality, or choose evil as a life path.   Ã‚  Ã‚  Ã‚  Ã‚  Like most of Burgess’ other novels, A Clockwork Orange explores the conflicts between good and evil, the spirit and the flesh (Galens). The novel- a satire detailing the violent exploits of a futuristic gang - was published in 1962, and is narrated in Nadsat - a language pasted together from Russian and American slang - by fifteen year old Alex.   Ã‚  Ã‚  Ã‚  Ã‚  The original American edition of A Clockwork Orange came out without the last chapter. In the Americanized version, there were only twenty chapters, as opposed to the twenty-one - a number that signifies adulthood. This chapter was cut out due to the fact that the publisher thought it was too sentimental (Galens).   Ã‚  Ã‚  Ã‚  Ã‚  Though Burgess says that A Clockwork Orange is neither his best nor his favorite book, the novel established Burgess’ international reputation. Stanley Kubrick contributed to his international fame, with a 1971 film adaptation of the novel. The film won Burgess numerous new readers. The film also secured the A Clockwork Orange as the most controversial novel in English literature (Galens).   Ã‚  Ã‚  Ã‚  Ã‚  Before and after A Clockwork Orange was published, Burgess wrote steadily, publishing eleven novels between 1960 and 1964. He edited and published many more works, including novels, screen plays, autobiographies, critical studies, and an opera. None ever achieved the notoriety that A Clockwork Orange received (Galens).  ... ...ex â€Å"matures and begins to [grow] weary of his violent ways† (Galens).   Ã‚  Ã‚  Ã‚  Ã‚  One of the more fascinating aspects of â€Å"A Clockwork Orange† is the language that Burgess invents. Known as Nadsat, it is derived from British, Russian, and American slang, rhyming words, and Roma, or gypsy talk. The patterns and rhythms of Nadsat in A Clockwork Orange convey a sense of rhythm about to be destroyed (F).   Ã‚  Ã‚  Ã‚  Ã‚  John Anthony Burgess Wilson was born in 1917. He was born in Manchester, England, to Joseph (a cashier and pub pianist) and Elizabeth (Burgess) Wilson (Galens). Both Bugess’ mother and sister died of the flu in 1919. He was raised by a maternal aunt, and later by his stepmother.   Ã‚  Ã‚  Ã‚  Ã‚  Once he went on to college, Burgess studied English at Xaverian college and Manchester University. He graduated with a degree in English language and literature (Galens).   Ã‚  Ã‚  Ã‚  Ã‚  During World War II, Burgess served in the Royal Army Medical Corps. â€Å"With World War II and the prospect of total annihilation†¦the fear that haunted the ivory towers of philosophers became a part of every living being.† (F). Unfinished?†¦

Learning Is For Everyone :: essays research papers

Learning is for everyone   Ã‚  Ã‚  Ã‚  Ã‚  The institution called a university, or many times a community college, is an institution that should welcome anyone who is willing to make the effort to face the challenges that it brings. As William A. Henry III writes, “In the real world, though, mostly people go to college to make money';(The Museum of Clear Ideals, 146). I point out that there are a variety of different reasons for which people choose to enter into college. Some of these reasons do include the ability to make a higher income. But many also do so to learn a particular function or get a better understanding of a specific field, or to have an overall deeper knowledge of the world around us. Despite the reasoning behind it, the university experience is one that should be experienced by all.   Ã‚  Ã‚  Ã‚  Ã‚  The types of university courses are changing to reflect today’s society. It does vary from college to college, but quite often today a student can just about customize his or her own degree program. This allows someone to study a particular subject or learn more about the area of study that he or she prefers, rather than choosing from a limited amount of concentrations. This evolution within the college cirriculum is excellent especially for those who prefer a career that does not require a degree, but would like to study nonetheless. One should be free to learn what one chooses. Many colleges also allow people to take courses without necessarily being matriculated in a degree program. This is helpful for those taking courses such as foreign languages, basic business, or even arts and crafts-related courses. The idea of the community college is superb, allowing those who don’t have a lot of money to spend on such an investment the opportunity to study at a lower cost. These colleges are also less severe about whom they let in. For example, if someone who did not do well in high school and therefore did not foresee nor have the desire to go to college following graduation, he or she may still be accepted at a community college even years after high school is over. These institutions also tend to accept students who obtained only average grades and therefore did not qualify for more prestige universities. “For American society, the big lie underlying higher education is akin to…that everyone can be above average'; (The Museum of Clear Ideas, 147).

Allen Ginsberg :: essays research papers

Allen Ginsberg started his infamous life as a revolutionary and poet of the beat generation when he began attending Colombia University. While at Colombia Ginsberg met friend and mentor Jack Kerouac whom he would later join to form the School of Disembodied Poets. During his education at Colombia University Ginsberg started his highly political and opinionated poems, which would become his signature for the beat generation. The poetry he produced would become the basis of protest and due to this and his strong political presence Ginsberg earned himself a spot on the FBI’s dangerous list.   Ã‚  Ã‚  Ã‚  Ã‚  Ginsberg’s poems were that of a revolutionary and showed his dislikes of American Society and the Injustices throughout America. Ginsberg’s most recognized and an earliest poem was Howl and other poems written in 1956 (Ostriker 4). Howl being one of Ginsberg’s most infamous poems has been translated to the T. In Alicia Ostriker’s criticism of Howl she relates Ginsberg’s â€Å"Meloch† in part two of Howl to many of the evils that befall this nation today (5). Ostriker states, â€Å"Ginsberg’s mind forged Meloch likewise as oppressiveness of a modern industrial and military state, excluded from reason. Ginsberg’s Meloch is also the modern version of Mammon, the capitalism of unobtainable dollars†¦ running money†¦ electricity and banks. (7).† Howl records in veiled fashion, the humiliation and crippling of a population of immigrants to shores, which promised, hope and produced despair (3). In th e poem Howl’s (1956) first lines, â€Å" I saw the best minds of my generation destroyed by madness, starving hysterical naked dragging themselves through the Negro streets at dawn looking for an angry fix. (Ginsberg, Howl)† Ginsberg is speaking of the destruction that drugs have caused in American Society and America’s addiction to drugs. Ginsberg also describes the members of his community: Who distributed supercommunist pamphlets in Union Square and undressing while the sirens of Los Alomos wailed them down, and wailed down Wall, and the Staten Island Ferry also wailed, who broke down crying in white gymnasiums naked and trembling before the machinery of other skeletons, Who bit detectives in the neck and shrieked with delight in police cars for committing no crime but their own wild cooking pederasty and intoxication (Ginsberg, Howl)   Ã‚  Ã‚  Ã‚  Ã‚  In Levi Asher’s review of Howl he describes these lines as Ginsberg’s fellow travelers, the crazy, lonely members of his community of misunderstood poet artists, unpublished novelists, psychotics, radicals, pranksters, sexual deviants, and junkies (Asher 1).

European Colonization of the Americas and What It Meant

Chloe Chandler European colonization of what would become North America was motivated by various reasons, including the desire for religious freedom, profit, or a chance to start over. The colonies were populated by religious groups seeking freedom to practice their religions without interference from England, indentured servants, debtors seeking a clean slate, settlers hoping to find a profit and people who were brought to America involuntarily as slaves from Africa. The establishment of European colonies in North America meant dealing with the Native American tribes who had already lived in the area for centuries.More often than not, colonists treated the native peoples as lesser beings and savages, and tensions between natives and Europeans led to many inhumane acts and deaths, particularly deaths of the native peoples. English colonization took many trial and error attempts before they were able to establish the famed thirteen colonies that would eventually go on to become the Un ited States of America. Despite the catchy assertion that â€Å"in 1492, Columbus sailed the ocean blue† and became the first person to discover the â€Å"New World†, he was not the first foreigner to set foot in what would become North America.Aside from the native tribes that had already been in the Americas for centuries, there was another group of people to find America before Columbus. The Vikings were the first to discover what would become North America. However, the Vikings did not remain in the area and their discovery of North America became something of a Viking legend. In 1492 an explorer named Christopher Columbus set out to find a new route to Asia in order to maximize the efficiency of the spice trade between Asia and Europe. Instead of discovering a shorter route to Asia, Columbus stumbled across the new world that would come to be known as America.Though his discovery is referred to as the new world, there were countless groups of Native American tribe s who had been living in America for centuries and had their own cultures and ways of life. Columbus did not arrive in the new world with an open mind regarding the native populations. Like many people at the time, Columbus regarded those with a skin color different from his own to be inferior. On Columbus’ second trip to America, he wrote a letter to the King and Queen suggesting that they enslave a large portion of the Native American population. â€Å"Their Highnesses will see that I can give them as much gold as they desire†¦ nd as many slaves as they choose to send for, all heathens† (Columbus’ first letter, 1493) After the monarchy refused this suggestion, Columbus proceeded to enslave the native peoples regardless. 1,200 natives were taken from their homes and enslaved by Columbus. 560 of these natives were forcibly sent on a ship to Spain where 200 of them died of illness during the trip (Weatherford). In 1584, Sir Walter Raleigh established the col ony of Roanoke on an island off of present-day North Carolina. Roanoke became the first European colony established in America.The charter to establish Roanoke was granted to Raleigh by the Queen Elizabeth I with the intentions of discovering riches in America as well as having a base from which the privateers she had commissioned could raid Spanish ships. The colony of Roanoke survived for three years before mysteriously disappearing, earning it the title â€Å"the lost colony†. One of the most commonly held beliefs regarding Roanoke’s fate, is that trouble with the native populations led to the deaths of several colonists, while the rest integrated into the Native lifestyle rather than face starvation or death by other means.In 1534 Jacques Cartier, an explorer for France, founded the settlement New France in the area of present-day Canada and the northern US. The French had a better relationship with the native inhabitants than any of the other countries that had, o r would colonize the Americas. The French realized that trouble with the natives could be detrimental and that a positive relationship with them could be beneficial. The French treated the natives with respect instead of viewing them as savages or lesser beings like the Spanish and British did.The French established a polite trading system of fur with the Native Americans. The French’s respect for the indigenous peoples would later be rewarded by the native’s help in the French and Indian War between the colonial French and the colonial British. A group of French Protestants called the Huguenots settled in what would become the southern US, but were eventually killed or driven away by colonial Spain to the south. In 1624, the Dutch settled the area of present day New York and New Jersey. They named their settlement New Amsterdam. The Dutch remained in the area until 664 when the British took over the colonies and renamed part New York and part New Jersey. The British a lso gained the colony of New Sweden from the Dutch, which went on to become a part of present-day Delaware. By the year 1600 the Spanish had established an expansive empire in America from present-day California to present day Florida, and down into Central America. The Spanish sought to expand their empire in the search of a profit and also to spread their Catholic faith. The Spanish obtained this vast empire by destroying the native peoples that stood between them and conquest.The three well-known cultures that were decimated during the Spanish conquest of the Americas were the Aztecs, the Maya and the Inca. In 1565, the Spanish attacked and took the French’s colonial settlement of Fort Caroline, killing 200 settlers. The Spanish then renamed the settlement St. Augustine. The Spanish desire for expansion would later cause tension between colonial Spain and colonial Britain. In 1606, King James I of England sold charters to the Plymouth Company and to the London Virginia Com pany. The charter was divided between the two companies, giving the Plymouth Company the northern half in the current-day Maine area.The colony established by the Plymouth Company did not succeed and was soon abandoned. With their Southern half of the charter, The London Virginia Company established the colony of Jamestown, Virginia which would become the first overseas English colony to succeed. The colonists of Jamestown faced many hardships in their first few years. The settlers of Jamestown arrived in the area at an inopportune time, as the area was experiencing a severe drought that made the cultivation of crops impossible. The lack of food resulted in many colonists dying of starvation.Aside from the drought, the settlers also experienced encounters from the native tribes who did not welcome their presence. Many settlers were killed by the Native Americans in the area, particularly in the long-standing rivalry that ensued between colonists and the neighboring tribes and result ed in the deaths of colonists and natives alike. Many other colonists died of diseases as a result of their malnutrition (Wolfe). When trouble with the neighboring Powhatan tribe finally subsisted, the colonists were introduced to the idea of using tobacco as a cash crop.With the introduction of tobacco as a cash crop the colony was finally able to succeed, though a darker issue arose from this success. As the tobacco trade became more and more successful for the colony, the issue arose of how to work the fields while spending the least amount of money on labor. Thus began America’s dark history of slavery. Several colonies were founded in order to seek religious freedom that was not offered in England. In 1620, a group of Protestants called the Pilgrims settled in Plymouth, Massachusetts.The Pilgrims chose to settle in America in order to be able to freely practice their religion. Nine years later, another religious group called the Puritans established a colony called the M assachusetts Bay Colony. The Puritans were unaccepting of other religions and established their colony in order to be able to practice their religion and also to be able to keep other religions out. In 1681, yet another colony was established for religious regions. William Penn, a Quaker, founded the colony of Pennsylvania in order to create a haven where Quakers could live and practice their beliefs in peace.In 1670, the establishment of the colony of Carolina was funded by a private group of Englishmen who were seeking to make a profit off of the colony. Carolina was settled but initially failed because no one had any motivation to move to the area. The colony of Carolina finally succeeded once farmable land was found in present-day Charleston. The establishment of South Carolina was motivated by the desire for profit, rather than for religious reasons as was the case in some of the other colonies.The motivations of the Carolinian settlers became apparent in their actions. Since t hey were profit-driven rather than being driven by religion as with some of the other colonies, the colonists of Carolina were most interested in how to maximize profits and did not mind if other people were hurt in order for their businesses to flourish. The Carolinian settlers came mainly from the British colony of Barbados, and they brought African slaves along with them. Being profit motivated, South Carolina began a trading relationship with the Caribbean Islands.Among the â€Å"items† traded were Native Americans that had been kidnapped and enslaved by the Carolinians in order to trade them to the Caribbean. Alongside their atrocities committed against the natives, the settlers of Carolina also brought in slaves from Africa to work in rice fields once they decided that slaves were cheaper to maintain than indentured servants. In 1733, the southern colony of Georgia was founded by James Oglethorpe in order to separate the colony of Carolina from the Spanish-populated Flo rida area due to tensions between Spain and Britain.These tensions were caused by Spain’s desire to be ever-expanding, and their history of attacking and taking over colonies that were close by. The English helped add to this tension through the practice of English privateers frequently raiding Spanish ships, stealing their gold or supplies and killing anyone in the way. Since the idea of living in a colony created as a buffer between two rivaling areas is not particularly appealing, Oglethorpe did not expect anyone to willingly settle in Georgia. This opened the question of how Georgia would be settled.The answer became a solution to another of England’s issues– what to do with their large number of debtors. At the time in England to be in debt meant to remain in prison until the debt could be paid. James Oglethorpe pitied the debtors who could not pay their debts, and this pity gave him an idea that would solve two problems at once. The colony of Georgia was p opulated by debtors in England who were given the choice of colonization or remaining in prison in England until their debts could be paid. During the time of colonization, as many as 300,000 colonists were indentured servants (US-History. om). An indentured servant was a person whose boat fare, housing and food were all paid by the person who hires them. In exchange, the indentured servant entered into a contract and agreed to work for their master for as many years as it took for their debt to be paid off. Indentured servants worked in fields or as house servants and often were not treated well. While indentured servants did enter into the contract voluntarily, it was only because they could not afford to go to America on their own and they desperately wanted a chance to start over in the new world.As it became too expensive to keep indentured servants, colonists who owned plantations began to look for cheaper ways to work their fields. Between 1500 and 1800, over half of the popu lation of the colonies consisted of African slaves who were brought to America against their will (Brinkley, 18). Many colonists and slave owners viewed African slaves as primitives and hardly regarded them as being human at all. The slaves were not given wages or promised freedom after a set number of years as with indentured servitude, but instead were regarded as the permanent property of the person who purchased them.The colonist’s poor treatment of anyone with a skin color different from theirs was also exhibited in their treatment of the Native Americans. As aforementioned, some colonies such as South Carolina forcibly enslaved the native populations and sold them in order to make a profit. The colonists also encroached on the native’s lands and were eager to expand westward without any regard for the native’s homes or lands. Colonists frequently regarded the natives as savages who were uncivilized and, like the Africans, hardly human. During colonization, several wars broke out between the settlers and the Native Americans.The war between the Powhatan tribe and the Virginians began when the colonist Captain John Smith began stealing food and supplies from the Native Americans as well as kidnapping several of them. Another dispute caused by the mistreatment of the Native Americans was King Philip’s War which began as a result of the natives defending themselves when the English colonists began to demand that the natives be held under the English colonist’s rule (Umass. edu). Another dispute between colonists and natives known as Bacon’s Rebellion began when a native tribe attacked the plantation of a colonist who had not paid them for goods.Colonists then returned attack– on the wrong tribe of natives. Several native chiefs were killed throughout the dispute and some innocent and friendly natives were kidnapped by colonists (nps. gov). In conclusion, the new world was settled by many different kinds of peo ple with many different motivations. Some settled in order to seek religious freedom, while others sought a profit, and some to escape their debt while others were brought to the colonies forcibly as slaves. Several colonies were only able to thrive by depending on the institution of slavery.The colonies also settled without any regard for the Native Americans who had already been living in the area. Many natives lost their lives in war with the colonists and many more lost their lives as a result of unfamiliar diseases brought over by the colonists. It took many failed colonies before the new world was settled by Europeans. After the colonization of Georgia in 1733, the English had established 13 English colonies in North America. They had also developed a successful economy grounded in tobacco, rice, and slavery.Sources: Brinkley, Alan. The Unfinished Nation: A Concise History of the American People. 6th ed. Vol. 1. New   Ã‚  Ã‚  York, NY: McGraw-Hill, 2012. Weatherford, Jack. à ¢â‚¬Å"Examining the Reputation of Columbus. † Understanding Prejudice. Last modified   Ã‚  Ã‚  2002. Accessed February 18, 2013. http://www. understandingprejudice. org/nativeiq/weather. htm. Wolfe, Brendan. â€Å"Early Jamestown Settlement. † Encyclopedia Virginia. Ed. Caitlin   Ã‚  Ã‚  Ã‚  Newman. 13 Feb. 2013. Virginia Foundation for the Humanities. 29 Jan. 2013 Columbus, Christopher.Letter, â€Å"The Letter of Columbus to Luis De Sant Angel Announcing His   Ã‚  Ã‚  Discovery,† 1493. Historic Documents. Independence Hall Association. United States History. â€Å"Indentured Servitude. † Accessed February 18, 2013. http://www. u-s-history. com/pages/h1157. html. â€Å"King Philip's War. † University of Massachusetts. http://www. bio. umass. edu/biology/conn. river/   Ã‚  Ã‚  philip. html. McCully, Susan. â€Å"Bacon's Rebellion. † Edited by Jen Loux. National Park Service. Last modified June   Ã‚  Ã‚  1987. Accessed February 18, 20 13. http://www. nps. gov/jame/historyculture/bacons-rebellion. htm.

Case Study of Jetblue Ipo

Initial Public Offering is the first sale of stock by a private company to the public. The private company as an issuer entrusts an underwriter firm or a group of firms who help the issuer going public. IPOs are such a big deal because any investors who hold stock at initial offering price would make a significant capital gain when the company goes public. Numerous cases of new issues have proved that investors rise in value. Mr. Schwartz (1999) listed some advantages of going public in his article.For instance, going public could be easy for the company to access to capital market to raise capital via equity, debt or convertible securities. This also increases the liquidity of the company. Moreover, employees could be more motivated if company made some employee benefit policy based on stocks. At last, going public could increase company’s goodwill. Thus it would bring more business. In the case of â€Å"Jetblue airways IPO valuation†, the motivations of JetBlueâ€℠¢s management board also prove the advantages listed.Based on some analysis of the case, three clear disadvantages reflect going public does not seem such fine. Firstly, the initial and ongoing expenses of going public are costly and multifarious. For example, before going public, some prerequisites should be fulfilled, and those prerequisites are complicated and costly. After going public, the company is not a private company and has obligations to disclosure annually or seasonally audited reports to public. Secondly, the management would over focus on their share price, not operations.To avoid declining share price is their primary objective, so they may forgo some business plan that can bring long term benefits but cause share price decreasing in a short time. Thirdly, going public via IPO is unreasonably difficult, so it may experience a long time. During this period, the company may lose some other opportunities. To conclude, going public is a crucial decision for a company. So Jetblue also is concerned with it because there are some negative influences on its industry.Jetblue faced challenges after the terrorist attacks of September 2011. So it was not a good time to go public, but Jetblue still could make profits and grow aggressively. Going public could be considered. Meanwhile, there were fewer competitors in the IPO market. This factor could contribute to success of JetBlue’s issues. The valuation is very important for issuing securities. Too much overpricing may reduce investors’ enthusiasm. Too much underpricing may leave more ‘free money’ and damage the interests of the company. There are three main methods o price the stock price—free cash flow to equity method, free cash flow to firm method and relative valuation techniques. 1. FCFE FCFE method is not suitable for start-up companies or companies with an unstable capital structure. So in this case, FCFE method will be forgone. 2. FCFF FCFF is preferable for a com pany with a history of leverage changes, as its growth rate will be more stable than FCFE growth rate, which means FCFF is useful for startup companies without a stable capital structure. While valuating IPO, there are some key assumptions: terminal growth rate is 4. %; after 2010, the FCFF will constantly grow at a speed of 4. 5%. So the terminal value is 4,819. 24million. Here we can set the WACC (9. 21%) as the discount rate to calculate NPV. Share price is estimated around $30. To conclude, all the calculations are based on the Exhibit 13. The forecast in the exhibit 13 is reasonable because all assumptions are based on reality. The aircraft has limited seats, so the output per aircraft is unchangeable. The only way to increase revenue is to increase the ticket price. So the growth rate is the inflation rate is reasonable.Moreover, the length of forecast period is also reasonable. From 2009, the value of FCFF turns to be positive. 3. Relative valuation techniques. Relative valua tion is used to complement DCF analysis. The key steps are to identify similar or comparable investments and recent market prices for each and to estimate the initial value of asset. The method of comparable involves using a price multiple to evaluate whether an asset is relatively fairly valued, relatively undervalued, or relatively overvalued in relation to a benchmark value of the multiple.For this case of JetBlue, P/E multiple and EBIT multiple can be used as benchmarks to estimate the share price of JetBlue. P/E Multiple: In the Exhibit 3, net income in 2001 equaled to $38,537,000. So share price is $38,537,000*29. 12/40,600,000=$27. 6 EBIT Multiple: Business valuation= profits * EBIT multiple=38,537,000*20. 71=798,101,270 So share price= business valuation/ shares=$20 In summary, after those two valuations of the JetBlue’s IPO, we can recommend that the current price level ($26) is in a reasonable range.