Ramayana and Diwali Essay

Festivals are the lifeblood of all nations. They add charm and thrill to our humdrum life. India being a melting-pot of religious race an d cultures, it has a plethora of festivals and feasts. Among these, Diwali perhaps is the most pan-Indian festival celebrated with great pomp and mirth throughout the length and breadth of the country, largely in Northern and Central India. Diwali, better known as Deepawali among the Indian masses, is a festival of lights. There are many reasons why Diwali is celebrated. It’s not just the festive mood in the air that makes us happy, or just that it’s a great time to enjoy before the advent of winter. The Goddess of wealth, Lakshmi incarnated on the new moon day of the Kartik month, hence Diwali is associated with Lakshmi. It is also believed that Diwali is connected with the triumph of Lord Krishna over the demon king Narakasur However, the most prevalent belief is that the festival marks the victory of Lord Ram over Ravana. On this day, it is believed that Rama came back to Ayodhya after his victory over the evil king of Lanka, Ravana who had taken away his wife Sita. People greatly rejoiced the return of their beloved prince. They lighted up whole Ayodhya with earthen lamps, decorated their houses and welcomed them with pomp and ceremony. The present day celebration of Diwali is held in remembrance of this event. Diwali is generally celebrated in late October or early November, soon after the rainy season is over. A lot of preparation goes in before the actual festival. Houses are cleansed, white washed and painted. Every nook and corner of the house is swept clean. Thereafter, in the evening earthen lamps and decorative lights are put in and around the house giving an atmosphere of joy and happiness. As the night approaches, children and people light up the sky with their firecrackers. The streets and markets bear a dazzling look. Illumination of every hue and color light up shops and buildings. Thus, there is gaiety, cheerfulness, merrymaking and fun everywhere. There is joy on every face. On this day every one puts on their best dress which has been purchased well in advance. Special meals and sweets are prepared. People exchange greetings and share sweets and meals as a mark of friendship and brotherhood. The festival of Diwali teaches us many values of life. More than anything else this festival symbolizes the ultimate victory of good over evil. It teaches us that one day or other the evil existing in this world would be subdued by goodness and righteousness. Rama’s obedience to parents, Sita’s faithfulness,  Lakshman’s unflinching love for his brother, etc. teach us many noble lessons of life. The festival is a national festival celebrated by everyone irrespective of caste, creed and race. It therefore, promotes unity, common brotherhood, and communal harmony. Hence, in a world like ours, broken by narrow domestic walls of religious fanaticism and social disharmony, a festival like Diwali can bring people together, heal wounds, and can help in fostering national integration. Diwali is thus, my favorite festival.

Japanese Culture Essay

social forces which influence the society and its values. Every culture has its own unique qualities not found in other cultures. Japan is no exception. It is culture is centered on the core values and traditions. They lead Japanese people to have different ways of looking at the world largely from differences in language and religion. Japanese culture determines specific way of living and social relations, cultural and religious views. History, Culture and Lifestyle Japanese history rises mistily out of the period known to archeologists as the Tomb or Tumulus period. During this important period Japan was unified under the imperial court of Yamato and became intimately involved with South Korea, pathway for many cultural elements of continental origin into Japan. Writing was one such element. Japan began to have historico-legendary records of its own and gradually moved from its protohistoric to the historic period. The main historical period were â€Å"Asoka period (522-710), Nara Period (710-784), Early Heian (784-897), Middle and Late Heian (897-1185), Kamacura period (1185-1336), Murimachi Period (1336-1393), Memoyama period (1573-1614), Edo Period (1615-1867), Meiji Restoration (1867-1911)† (Martines, 1998). During all historical period, Japanese lifestyle was influenced by political, economic and social changes, new perception of the world and religion. Japanese culture is based on unique traditions and values influenced by religion and life style. The Japanese learned to view the world from the perspective of traditional versus modern values after the Meiji Restoration in 1868 following the opening of Japan’s doors to the world. This attitudinal structure started to fall apart in 1978, and its disintegration became definite by 1988. For example, the â€Å"conquering† nature was an important value during the era of Japan’s modernization process, but it has since been replaced by the â€Å"following† nature. In the middle of the XX century, the traditional perspective of catching up with the West and categorizing what is Western and Japanese has become meaningless (Oxtoby 2001). While the industrialization process produced divergent values for Japan and the West, it also is responsible for the development of some homogeneous cultural values. Researchers found three levels of similarities: (1) frequency distribution of single variables, (2) similar impacts of age and gender on attitudes, and (3) similar structures in the way people categorize their experience (Oxtoby 2001). Modern Japanese lifestyle is influenced by industrialization and innovations coming from other countries. Thus, Japanese value their old traditions and rituals adapting them to new social environment. For instance, Japanese take off shoes inside the house, they pay 5% commission tax for purchases, they follow bath and toilette design according to norms and practices of century old traditions (Oxtoby 2001). In short, the Japanese self, characterized by its diffuse nature or collective orientation, represents a self who lost its space to be free of the omnipresence of the giri-ninja social network in Japanese society in return for being taken care of by its group. The strong sense of belonging to one’s company and family assures one materially a comfortable life at the individual level and stability and safety at the social level, making Japan relatively free of violent crimes. Such a life is stifling and meaningless to Americans even if they must pay a high price of alienating from the rest of society (Shelley, 1992). Japan managed to keep a sense of alienation to a minimum as it industrialized and urbanized by maintaining its virtually â€Å"village† mentality and social network. However, the value the Japanese gain by observing the traditional code of conducts, the giri-ninjo, is material and psychological welfare, which is provided to members of Japanese society more or less equally and fairly at the individual level, and public safety, which is provided at the collective level in Japan today. Another pair of terms often used in discussing Japanese culture is tatemae and honne. The former refers to the proper role expectation as defined by society and the second to one’s real inner feelings, however irrational they may be. Often, to act in accordance with giri is to act in conformity with the norm of a community (tatemae). The role language plays in culture cannot be underestimated, for it offers a way of organizing one’s life experience in a particular way that is shared by its speakers but not necessarily by people in other cultures (Davies and Ikeno, 2002). Family is one of the most important social institutions which keep century old traditions and human relations. In response to the traditional call for harmony, the Japanese are expected to conform to group norms. This proclivity yields situational ethics based on flexible standards (Shelley, 1992). There are no absolute criteria by which one passes judgment. The Japanese spend a disproportionately large sum of money for socializing, as embodied in semiannual gift exchanges between friends, relatives, and colleagues and after-work drinking of working men and women among co-workers and friends. Religion In Japan, nearly 100 % of the population are Buddhists and in many cases Scientists. The Japanese are, of course, not religious in the sense that they believe in God. Christians constitute about I % of the total population. Most Japanese are not very concerned with religion. They celebrate the birth of children in accordance with the Shinto rituals and bury their dead with the help of Buddhist priests. Meanwhile, they may get married in civil ceremonies, Christian churches, or other facilities. That is perhaps what makes it possible for the Japanese to accept more than one religion at the same time, an unthinkable option for monotheistic people of the West and West Asia, accustomed as they are to dialecticism. The Japanese approach the world in a diffuse fashion or inclusively. The number of Japanese with a religious faith increases with age (Davies and Ikeno, 2002). Fewer than 10 % of the Japanese in their early twenties and about 50 % of Japanese senior citizens over sixty years of age are religious. The older one becomes, the more religious one becomes. Likewise, Japan never had any revolutions such as experienced by China, France, and the United States. Revolutions are carried out by those who believe in the total destruction of the old regime and the establishment of a radically different doctrine. The Japanese seem to be incapable of totally denying their past. They are always interested in improving (kaizen) their existing system–be it via fax machine, Buddhism, or television sets. The majority of the Japanese do not take religion very seriously from the Western perspective (Oxtoby 2001). Japanese mythology distinguishes two categories of deities, the heavenly gods and the native or territorial gods. Some myths represent the heavenly deities as descending to the land of Japan to conquer or rule its autochthonous deities. The myth of land transfer in Izumo is one instance. Two generals of the heavenly gods were dispatched to Izumo to demand of O-Kuninushi, chief of the native gods and master of the territory of Japan, that he hand over sovereignty to the heavenly gods (Oxtoby 2001).

To which extent have the reforms of the judicial system in Russia been Essay

To which extent have the reforms of the judicial system in Russia been successful - Essay Example The sovereignty and self-government of the Russian Federation and the initiation of judicial reforms was announced. On the orders of President Boris Yeltsin, in 1991, the highest ranking body in the Russian nation, the Supreme Soviet of the Russian Federation, accepted the idea of reform for the Russia’s judicial system. The Supreme Soviet of the Russian Federation in 1993 ratified the Law on Jury Trial despite the resistance that was staged by the Prosecutor General. All major court cases that the local courts came under the jurisdiction of the jury trials. This system of jury trial was realised in 9 areas of the Soviet Russia. Since then, the practice of jury trials has become normality. In the year 2000 alone, judges in Russia had tried about 900,000 legal cases, with 1,300,000 defendants, and 450,000 appeals. This number pales in comparison with the numbers of court cases that the judges before the introduction of jury trials were forced to cope with. Though even after the reforms of the nineties many Soviet residents were forced to deal with lengthy procedures in order to get justice, it was a considerable improvement from the days when residents could not possibly hope for their cases to be tried due to the backlog of cases in the court. In 1996, further reforms were summarily stopped. This was because the Russian authorities realised that the reforms were not affecting the most critical of institutions. For example, law enforcement establishments, and institutions such as the public prosecutors and the militia were not inspired to implement change. Russian society had long accepted the reality that the only way through which people could be coerced to tell the truth in some circumstances was through the use of torture. This was an accepted practice that even had supporters among the members of the Russian public. Another reason why the reforms of the early nineties period were not far reaching is because there were not enough finances to implement the reforms in all areas. For example, Russian judges were given measly salaries that left them open to being bribed. In Russia, the highest courts have their requirements provided by the President's Administration. For this reason, there are many verdicts of the Russian Federation’s Supreme Court which are divergent (Hoffman 2011). Though often democratic in theory, the decisions of the Constitutional Court can actually end up intensifying the real situation. Following the verdict of the Constitutional Court, the legal right of defendants to come before the jury began to be viewed as a provision that was specially authorised by the president’s administration. However, this remained something that could only be practiced in the highest court. Other lower level courts continued the practice of accepting money as well as gifts from the regional governors. This is outlawed by the Russian Constitution; nevertheless the courts had no choice but to take bribes. If they refu sed to accept such gifts, they would be forced to stop all operations because of outstanding bills, and the lack of amenities such as chairs, and paper. Even the buildings in which court cases were tried were decrepit and in serious need of repairs. The regional courts situated in Saint-Petersburg and Moscow were some of those involved in the most cases of bribery. Therefore, the mayor of Moscow tended to win in all

International Marketing Management Essay Example | Topics and Well Written Essays - 1750 words

International Marketing Management - Essay Example Globalization and Liberalization has opened many doors to the international companies like Coke and they are currently exploiting these opportunities. The destruction of communism has made the business climate in Bulgaria more suitable for the American business tycoon Coke. Earlier the communist regime looked suspiciously at the intrusion of the products and organizations from the capitalist countries. On the other hand, Spain had no such political obstacles for the entry of Coke in their market. Spain traditionally a close ally of America and American products never faced many barriers in Spain. This report analyses the macro-environmental analysis of Coca Cola product in Bulgaria and Spain. Coca Cola is currently marketing across different countries and different cultures. One of the major characteristics of Coke’s international marketing strategy is the custom made marketing strategies for each country and region where Coke operates. Coke knows that different countries may have different social, political, economical environmental, legal, cultural and communal factors and each country needs marketing strategies suitable to their characteristics. Even though Coca Cola is marketing same products all over the world, they have realized that even for same product, different marketing techniques needed in different countries. Since 1990, Bulgaria has embraced parliamentary democracy as communism failed to fulfil the needs of the people. Spain on the other hand is a parliamentary representative democratic constitutional monarchy since 1975. In short both these countries are under democratic administration at present which is a good sign for Coke’s business hopes in these countries. Historically, communist countries were reluctant in allowing American companies to function in their soil because of suspected spy work. But the current political systems in Spain and Bulgaria offers less resistance to

The Romantic Movement Essay Example | Topics and Well Written Essays - 1000 words

The Romantic Movement - Essay Example The lofty ideals of democracy asserted the value of individuals, regardless of class, and education. Of course, these values primarily applied to white males. In fact, tensions were building which cried out for creative release. Inequality, not equality was the rule for many, especially women and slaves. The clash of these realities with the idealistic rhetoric led writers to take extremes, championing individualism yet also seeing the darker sides of a fragmenting society (Woodlief). This is the important background within which all of the following writers worked. These writers made a lasting impact that we should all be grateful for. In the course of this essay I will briefly describe each of the following famous writers. Longfellow was one of the most famous poets of his age. He came to represent what was best about New England romanticism. One of Longfellow's main talents was romanticizing the past. He was very knowledgeable about American history and wrote poems that brought th e Revolution to life. Poems about people like Paul Revere and the poor Acadian girl Evangeline quickly became famous. He showed people the past in a way they had never seen it before, even if it was sometimes a bit sentimental. His work reached a large audience in his day. Like many Romantics, he recognized his calling from an early age, writing to his father as a boy: â€Å"I will not disguise it in the least... the fact is, I most eagerly aspire after future eminence in literature, my whole soul burns most ardently after it, and every earthly thought centres in it... I am almost confident in believing, that if I can ever rise in the world it must be by the exercise of my talents in the wide field of literature† (Arvin, 13). Bryant had a very long career, but much of his work was derivative of European writers. Unlike Whitman, who was wholly original and American, much of Bryant's work has not lasted as it was not much better than some of the minor British poets of the perio d. He did however, have a fan in Edgar Allen Poe, who once wrote of his work: â€Å"The rhythmical flow, here, is even voluptuous—nothing could be more melodious. The intense melancholy which seems to well up, perforce, to the surface of all the poet's cheerful sayings about his grave, we find thrilling us to the soul—while there is the truest poetic elevation in the thrill... the impression left is one of a pleasurable sadness† (Sova, 37). Harriet Beecher Stowe was one of the most popular and best selling authors of her day. She made her name with a singular novel—Uncle Tom's Cabin—which has been considered one of the most influential books ever written. In keeping with Enlightenment ideals, which were very prominent at the time, Stowe took on the issue of slavery, presenting a fully formed and human African American man as her novel's main character. She drew many of her ideas from things she had observed first hand in the America of the day. Dou glass was one of the first African American men of letters. He was an excellent chronicler of black life in America and became a prominent figure in the fight against slavery. He travelled the country giving speeches and explaining how all people should be equal, as one of the most prominent orators of his age (Gatewood). One element of romanticism especially espoused by him was to end corrupt hierarchies. He believed that by nature all people were

Economic and financial aspects of business Essay

Economic and financial aspects of business - Essay Example & FESS, P.E., 2005] Environmental accounting: - It shows the role played by natural environment in economy. It provides data which shows contribution of natural resources in economy and costs born by economy due to pollution and other environmental factors. Financial accounting is purely related to the record of daily transactions. In it only those transactions are considered in which money is directly or indirectly involved. It provides information to the present and potential shareholders and stakeholders of a business such as investors, creditors, debtors, suppliers, customers, financial analysts and government agencies, about the financial condition of the business. As it has to serve the information needs of a diversified base of users who have diversified needs, so it presents the financial accounts in a very structured manner and strictly follows certain rules, these rules are called â€Å"Generally Accepted Accounting Principles† or GAAP. Managerial accounting is defined in following words â€Å"The process of identifying, measuring, analyzing, interpreting, and communicating information for the pursuit of an organizations goals.†[INVESTOPEDIA] It fulfills the information needs of internal stakeholders of business as managers and employees. It provides useful accounting information to management of organization, to support them in making more educated and informed decisions. It is mostly related with such decisions as continue or shut-down a factory, make or buy decision, drop a product or not etc.. Financial accounting information is generated for the use of external stakeholders of organization such as stockholders, investors, creditors, debtors, suppliers, customers, government agencies, financial analysts and other regulatory bodies. Managerial accounting system generates information for the internal stakeholders of organization especially for management to support them in effective

Challenges of trading minerals in brazil Coursework

Challenges of trading minerals in brazil - Coursework Example The use of the minerals in the production has led to slower economic growth in the country. The mineral export from Brazil grew by 4% from 1950 to 2003 (Geological Survey, 2008). The challenges Brazil face is that, the country exports its raw minerals and ends up importing the finished products. Developing countries do not have people with the knowledge to manufacture goods from the minerals, hence importing the products (Davies, 2009). Another challenge is that one needs energy, labor, and capital in order to extract the mineral from the ground. The money that goes into extracting the minerals is a challenge to the country that is not economically stable (Geological Survey, 2011). It is bad for Brazil as it affects Brazil’s economic growth (Gereffi & Wyman, 2014). As the economic growth slows down, the country has to look for manufacturers or industries from other countries (World Bank & IMF, 2011). The country needs to train its people in order to have adequate labor force t he industry needs. The use of external labor forces to provide finished product proves to be a disadvantage to

The Supply Chain Department of Square Pharmaceuticals Ltd Essay

The Supply Chain Department of Square Pharmaceuticals Ltd - Essay Example The company’s mission was to provide quality and innovative healthcare products for people and have a strong ethical stand culture in its business operations which help the company to give the maximum benefit to the stakeholders, shareholders and also to the society. Watson Pharmaceuticals is the major competitor for the company as they produce the similar products and also have a strong overall process. The company has shown a good growth rate in the previous few years and also has come up with new products launching them in the market (Ahmed, Tabassum and Hossain 2005:93). Supply chain management is a very strong and important part for the successful running of any company and mainly for companies which are in the pharmaceuticals business as they need to take care of all the members and also the information flow play a vital role in the market demand and changing trend in the market. It involves the overall flow and maintenance of the materials, information and the finance that is involved in the process which moves from the supplier to the company then to the retail and distributors from there to the end customers. The main objective of supply chain management is to reduce the inventory stock as a result reduces the additional cost of maintaining the stock. The company’s market share is 16.23% having a good growth rate of around 14.9% and in 2004 it had shown a growth rate of 11% in the country among all the competitors. The company’s market share is the highest among all other competitors and it enjoys the position of being a market leader. The company has enjoyed this position over the years because of the strong strategies that it has followed from last two decades which has got the company’s growth to go up in an exponential manner (Baligh 2006:56). The company has always maintained a strategy to provide good quality products to its customers and have a transparent medium in

Proposal on A Qualitative Study of primary care practitioners views of Essay

Proposal on A Qualitative Study of primary care practitioners views of treating childhood obesity in Saudi Arabia - Essay Example ho are just a little overweight leads to a consistent increase in obesity amongst them causing them to gain weight excessively overtime thus leading towards prolonged suffering for themselves as well as their families (WHO, 2006). Further to this is the fact that the overall costs for health care systems has risen alarmingly high causing even more strain for governments to meet these needs (WHO, 2006). More than 43 million children worldwide, below the age of five were diagnosed as overweight in 2010 (World Health Organization, 2011) Obesity which was once merely limited to the high income countries is now on the rise even in the middle class as well as the low income countries, particularly in urban settings (WHO, 2011). Today, more than 35 million children belonging to the developing countries are overweight and approximately 8 million children in developed countries belong to the group of obesity. Moreover, forty three million children under the age of five are overrweight (WHO, 2011). Obesity amongst infants and youth is related to a concurrent boost in rises associated with chronic diseases (Abalkhail, 2002). This glut of weight is also one of the key contributors of paediatric hypertension. Children who are obese are at a much more elevated risk for developing enduring chronic conditions including type 2 onset diabetes mellitus, orthopaedic disorders, coronary heart ailments and respiratory diseases (Abalkhail, 2002). Additionally childhood obesity can also lead to an increase in consequent morbidity regardless of the fact if obesity persists in adulthood or not (Abalkhail, 2002). Obesity and overweight have both become quite dominant in Saudi Arabia over the past few years. This is not only common amongst the adults but is equally widespread amongst the children as well. Based on recent statistics, approximately 6% of the people in Saudi Arabia are obese, with 50% of these being children and adolescents (King Saud University Obesity Chair, 2011).What’s

The Influences of Music Essay Example for Free

The Influences of Music Essay According to social statistics (n.d.), 52.17 percent of people listen to music every day and 26.63 percent of people listen to music almost every day. It implies that music plays a vital role in society. Due to human’s creations, such as televisions and radios, which make music be heard more easily. Unsurprisingly, it becomes a huge part of people’s lives. It has a connotation in itself. Therefore, this essay will illustrate that music can influence people in various ways: feelings, thoughts and behaviors. Feelings can be affected by music. For me, rock songs, such as Know Your Enemy by Green day, makes me feel uncomfortable and upset due to its heavy, loud, and fast beat. Besides, according to North, Tarrant, and Hargreaves(2004), listeners who listen to a nonviolent rock song will have lower levels of opposed feelings than listeners who listen to a rock song with aggressive lyrics. Conversely, when I am upset or angry, a pop music, like Live High by Jason Mraz, can change my mood completely. Its smooth voice and soft tone fit perfectly together. And it has such a huge impact on me; it gives me a chill feeling which can help me feel better and get rid of such things. Furthermore, the lyrics of some song can make me smile unexpectedly, such as Happy by Mocca. The song says â€Å"Dont You Give up, Keep Your Chin up, And Be Happy†. It expresses that no matter what happens, just stay strong and be happy. It is such a lovely phrase that can instantly turn my whole world upside down. Music has an impact on thoughts. Muchet (2010) said that a study of 121 Midwestern high school students’ music preference pointed out that 75 percent of girls who like listening to heavy metal music have thought about suicide compared with 35 percent of girls who like listening to other kinds of music. Plus, almost 50 percent of boys who favor heavy metal have considered suicide compared to others who like listening to non-metal music. On the other hands, music can have a positive benefit on thoughts. Some song has meaningful lyrics that can motivate people. For example, the lyrics from Lose Yourself by Eminem: â€Å"You better lose yourself in the music, the moment You own it, you better never let it go You only get one shot, do not miss your chance to blow This opportunity comes once in a lifetime† It tries to convince people that you had better not let any opportunity slips away by not trying to grab it. This song can truly motivate me and change my thought. I used to think that there are abundant opportunities out there, and I can catch it whenever I want. Then, this song totally changed my thought. Music influences behavior. According to Palmer(2003), researchers from Iowa State University and the Texas Department of Human Services found that aggressive behavior is perpetuated from offensive music lyrics and have long-term effects. Sallinger(2005) stated that Richard Paul White, Colorados serial killer, said his action was inspired by the song Ride the lightning by Metallica. In the following lyrics: Guilty as charged But damn it, it aint right There is someone else controlling me Death in the air Strapped in the electric chair This cant be happening to me Who made you God to say Ill take your life from you! This phrase influenced him to commit the crime. Beside, in case of drug addiction, Not an addict by K’s Choice is a good example due to its lyrical content. It says â€Å"Its not a habit, its cool, I feel alive. If you dont have it, youre on the other side. Im not an addict (maybe thats a lie)†. It indicates that using drug is cool and you might be sort of weird if you do not use it. In fact, using drug does not even come close to the word â€Å"cool†. Therefore, it this lyrics might affect people in a poor way that they have to behave like this in order to be cool. To conclude, music has a massive effect on people’s lives. People listen to it almost every day and that gives music a power to be able to influence our lives. People’s moods, thoughts, and behaviors can be affected by the lyrical and tonal content of the song they listen to. It has both advantage and disadvantage, so it depends on which side they choose to perceive.

Fundamental concepts of the IASB framework

Fundamental concepts of the IASB framework The International Accounting Standard Board herein referred to as the IASB, sets forth standards that outlined in its Framework for the Preparation and Presentation of Financial Statements. The IASB framework applies to general-purpose financial statements. That is, the primary financial statements (income statement, balance sheet, etc.) and the accompanying notes but not additional financial or nonfinancial information, such as directors reports, management discussion and analysis, etc. The IASB framework because of its more limited scope, discusses objectives in the context of business entities only (IFRSs and US, 2007). The IASB framework starts with a broad focus, by discussing the objectives in terms of information useful to a wide range of users in making economic decisions. It lists a wide variety of present and potential users. The IASB framework narrows that focus to a particular group of users. Reasons given include pragmatic reasons (for example, a focus to avoid being vague or highly abstract) and that meeting the information needs of that particular group of users is likely to meet most of the needs of other users. The objectives of financial statements/reports have significant implications for other parts of the framework. For example, objectives affect the elements, in particular the definitions of liabilities and equity. If the objective of financial reporting is to provide information useful to shareholders in making economic decisions, this points toward defining equity narrowly (for example, common shareholders only). Shareholders are interested in the effect of transactions or events on the value of their shares (for example, dilution). In contrast, if the objective of financial reporting is to provide information to a range of users (for example, shareholders, lenders, suppliers, and various other users), this points toward a focus on reporting the effect of transactions or events on the entity, not on the financial position of one particular group of users. Fundamental Concepts Underlying Assumptions The IASB framework prominently features two underlying assumptions: the accrual basis and the going-concern basis. Accrual accounting and related concepts are reviewed extensively. In contrast, the going-concern basis is disclosed in a footnote only. Qualitative Characteristics The IASB framework discusses qualitative characteristics of financial information in terms of attributes that make the information provided useful to users in making economic decisions. The IASB framework discusses fundamental qualitative characteristics, qualitative characteristics and pervasive constraints, an outline of each follows this paragraph. The IASB framework also discusses constraints, such as cost-benefit considerations, and the trade-off between the various qualitative characteristics, such as relevance, and reliability. The IASB framework states that the exercise of prudence or conservatism does not allow the deliberate understatement of net assets and profits. The Boards have identified two characteristics that it has determined to be fundamental qualitative characteristics. Those are: relevance and faithful representation. The definitions are below: Relevant Financial Reporting information that has predictive value or confirmatory value. Faithful Representation Financial reporting complete and free from material error and neutral. The Boards have identified enhancing qualitative characteristics to be: comparability, verifiability, timelines, and understandability. The pervasive constraints identified by the Board: materiality and costs (Conceptual framework for, Chapter 2 2008). In the IASB framework the assets definition has a central role, in that all other element definitions are based upon the definition of assets. That asset primacy is not because information about assets is the most important financial information. Rather, it is because, for a set of definitions of elements of articulated financial statements to be internally consistent and avoid circularity, it has to start by defining one of the elements and base the rest of the definitions upon that definition. Capital and Capital Maintenance The concepts of capital and capital maintenance concern how an entity defines its capital (that is, its store of wealth) for the purposes of distinguishing between an entitys return on capital and its return of capital. The IASB conceptual framework briefly discusses two concepts of capital (and their associated capital maintenance concepts): financial and physical (or operating capability). It does not specify which of the two concepts should be adopted, other than to say that the selection of the appropriate concept of capital are based upon on the needs of users of financial statements. Pros and Cons of Principles Based-System The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. Proponents of worldwide adoption of IFRS work to ensure assure that similar transactions would obtain the same treatment by companies around the world, resulting in globally comparable financial statements. A principle-based system addresses a broad area of accounting that remains consistent with a clear Conceptual Framework. The major benefit of principles-based accounting is that the guidelines can be applied in a variety of situations/industries that avoids the need for managers to manipulate statements to fit a certain requirement (Toppe, Myring, 2009). In principles-based accounting the guidelines are set but not necessarily dictated for every situation, which is one of the major concerns pertaining to this type of accounting system. This situation implies second-guessing and creates uncertainty and requires extensive disclosures in the financial statements. A lack of precise guidelines could create inconsistencies in the application of standards across organizations. For example sometimes financial information can be inconsistent from one company to the next in the same industry thereby damaging the ability for comparability (Doupnik, Perera, 2009). In a principle-based accounting system, the areas of interpretation or discussion are clarified by the standards-setting board, and provide fewer exceptions than a rules-based system. However, IFRS include positions and guidance are considered as sets of rules instead of sets of principles. Stated below are some of the underlying concepts of IFRS that provide a flavor of impacts on the financial statements and therefore on the conduct of businesses. à ¢Ã¢â€š ¬Ã‚ ¢ Consolidation IFRS favors a control model whereas U.S. GAAP prefers a risks-and-rewards model. Some entities consolidated in accordance with FIN 46(R) may have to be shown separately under IFRS. à ¢Ã¢â€š ¬Ã‚ ¢ Statement of Income Under IFRS, extraordinary items are not segregated in the income statement, while, under US GAAP, they are shown below the net income. à ¢Ã¢â€š ¬Ã‚ ¢ Inventory Under IFRS, LIFO (a historical method of recording the value of inventory, a firm records the last units purchased as the first units sold) cannot be used whereas under U.S. GAAP, companies have the choice between LIFO and FIFO (is a common method for recording the value of inventory). à ¢Ã¢â€š ¬Ã‚ ¢ Earning-per-Share Under IFRS, the earning-per-share calculation does not average the individual interim period calculations, whereas under U.S. GAAP the computation averages the individual interim period incremental shares. à ¢Ã¢â€š ¬Ã‚ ¢ Development costs These costs are capitalized under IFRS if certain criteria are met. Under U.S. GAAP development costs are expensed. FASB The Financial Accounting Standard Board herein referred to as the FASB, sets forth standards that outlined in its collection of Concept Statements. The FASB framework applies to general-purpose external financial reporting. This includes not only the financial statements but also other financial and nonfinancial information. Examples include other financial and nonfinancial information contained in company annual reports, company prospectuses and service performance information in the annual reports of non-business entities (IFRSs and US, 2007). Objectives The FASB framework contains two statements on objectives-one relating to business entities (Concepts Statement 1) and another relating to non-business entities. Measurement Measurement is one of the most underdeveloped areas of the two frameworks. Both the IASB and FASB frameworks contain lists of measurement attributes used in practice. Those lists are broadly consistent, and are composed of historical cost, current cost, gross or net realizable (settlement) value, current market value and present value. Both frameworks indicate that the use of different measurement attributes will continue. However, neither provides guidance on how to choose between the different measurements attributes that exist. In other words, the framework lacks fully developed measurement concepts. Those measurement concepts would need to cover both initial measurement and subsequent measurement. Subsequent measurement includes revaluations, impairment and depreciation. The Boards also will need to consider whether the conceptual framework should include not just measurement concepts but also guidance on the techniques of measurement. For example, the FASB conceptual framework includes Concepts Statement 7, on the use of cash flow information and the present value measurement technique to estimate fair value for the purposes of initial recognition and fresh-start accounting. One cross-cutting measurement issue seems to be the unit of account-whether items are grouped at some level of aggregation rather than measured individually (Leuz, 2003). Display-Presentation and Disclosure The display section of the conceptual framework would cover concepts for determining both in which and how recognized information are presented in the primary financial statements and what information are disclosed in the notes or elsewhere in the financial reports. At present, neither framework explicitly sets out definitive concepts of display. Some discussion of presentation and disclosure in the frameworks (for example, both frameworks contain discussion of how information is reported to meet the objectives of financial reporting, by briefly describing the statements that comprise a full set of financial statements and the roles of notes and supplementary information). However, that commentary needs to be pulled together and developed further, to develop concepts of presentation and disclosure useful to the Boards in setting standards for presentation and disclosure (Benston, Bromwich, Wagenhofer, 2006). Fundamental Concepts Underlying Assumptions The accrual basis and the going-concern basis are not listed as underlying assumptions in the FASB framework. Qualitative Characteristics Both frameworks discuss qualitative characteristics of financial information in terms of attributes that make the information provided useful to users in making economic decisions. Both frameworks have similar qualitative characteristics, for example, understandability, relevance, reliability and comparability. Both discuss constraints, such as cost-benefit considerations, and the trade-off between the various qualitative characteristics, such as relevance and reliability. However, there are some differences between the two frameworks. For example, the FASB Concepts Statements set out the characteristics in a hierarchy, treating understandability as a user-specific quality separate from the others, relevance and reliability as the primary qualities and comparability as a secondary quality. In contrast, the IASB framework treats all four as primary qualitative characteristics. Some improvements could be made to the qualitative characteristics of both frameworks. For example, both include neutrality but also prudence or conservatism. Although both frameworks state that the exercise of prudence or conservatism does not allow the deliberate understatement of net assets and profits, some argue that any concept of prudence or conservatism is inconsistent with the concept of neutrality. Discussions with constituents of both Boards suggest that important qualitative characteristics common to both frameworks may be misunderstood. For example, some constituents seem to equate reliability with auditability or verifiability, overlooking the frameworks meaning of correspondence between the accounting information and the real-world economic conditions or events that it purports to represent. Misunderstandings and other difficulties with reliability seem to cut across several present and potential projects at one or both Boards, including revenue recognition, insurance contracts, and fair value measurement (IASB, 2006). Conceptual Framework Project Exposure Draft Some History The first steps taken were to update existing concepts to reflect changes in markets, practices and the economic environment that have occurred in recent years. It was concluded early in the joint project that major reconsideration to all areas of the IASB and FASB frameworks were not needed. They were largely similar. The focus was directed on improving and reaching a convergence between the existing frameworks of each. The convergence process began with a series of exposure drafts. The exposure drafts relating to the joint conceptual framework project are a product of a shared goal of the International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB), herein referred to as the Boards. Their shared goal is to develop a common conceptual framework for financial reporting. The exposure drafts are open for public comment. All comments received by FASB are public information and have been posted on their website. The first discussion paper issued in July 2006 eventually became the first in a series of joint publications that ultimately became the first exposure draft. To date there has been many subsequent drafts published on not only the conceptual framework but also on subsequent issues such as Disclosures, Borrowing Costs, Discontinued Operations, Revenue Recognition, Consolidation, Fair Value Management, Liabilities and many others. As part of the IASBs due process, the Boards consult with practitioners by publishing discussion papers and Exposure Drafts on each of the proposed chapters of the common framework. The new framework is anticipated to be a single document rather than a series of Concept Statements as is the current FASB framework. The Current Exposure Draft- Conceptual Framework for Financial Reporting The latest conceptual framework exposure draft published in May 2008 and like its predecessor was open for public comment. It is anticipated that an additional exposure draft on the topic will follow incorporating inputs from various sources and changes needed after future exposure drafts are published on the various topics such as revenue recognition, liabilities, and disclosures among others. Differences between GAAP and IFRS The most common question one could expect to have regarding the new framework is what are the changes? The potential impact and resulting costs on businesses could be huge is there is a large shift away from the current FASB standards. A huge shift appears unlikely as the two are basing their shared framework largely upon the current FASB concept statements, athough there will be some differences. Some of those be addressed in the pages that follow. This list is not by any means an all-inclusive list of the difference, merely a highlight of some of the more notable difference. These differences are subject to change in the future with publication of new exposure drafts concerning the conceptual framework. An an excellent article published by Deloitte that can found at the following link: http://www.pwc.com/en_US/us/issues/ifrs-reporting/assets/ifrs_usgaapsep09.pdf. This article is a more comprehensive list of the differences between IFRS and GAAP that exceeds the scope of this resear ch paper (Conceptual framework for, para.BC1.3 2008), (Current situation and, 2010). Authoritative Status of the Framework Currently FASBs Concept Statements have the same authority as articles and textbook These are surpassed in authority by common accounting practices. The International Financial Reporting Standards (IFRS) requires entities preparing financial statements under its authority to consider the IASB Framework when there is no standard or interpretation that specifically applies to an event, transaction or similar issue. This would give more authority to the material sourced by the preparers of United States financial statements (Conceptual framework for 2008). General Purpose Financial Reporting The focus of the IASB Framework is on the preparation of financial statements. Currently FASB Statement of Concepts focuses on financial reporting. The disparity between the two becomes less when one considers that the primary focus of FASBs conceptual framework is on the financial statements (Conceptual framework for, para.BC1.3 2008). First-time Adoption Full retrospective application of IFRSs in force at the time of adoption. FASV has no specific standard for first-time adopters. The general practice of U.S. GAAP has been full retrospection application unless a specific standard states otherwise (IFRSs and US, 2007). Consolidation IFRS favors a control model whereas U.S. GAAP prefers a risks-and-rewards model. Some entities consolidated in accordance with FIN 46(R) may have to be shown separately under  IFRS (Forgeas, 2008). Statement of Income Under IFRS, extraordinary items are not segregated in the income statement, while, under US GAAP, they are shown below the net income (Forgeas, 2008). Inventory Under IFRS, LIFO (a historical method of recording the value of inventory, a firm records the last units purchased as the first units sold) cannot be used while under U.S. GAAP, companies have the choice between LIFO and FIFO (is a common method for recording the value of inventory) (Forgeas, 2008). Earning-per-Share Under IFRS, the earning-per-share calculation does not average the individual interim period calculations, whereas under U.S. GAAP the computation averages the individual interim period incremental shares (Forgeas, 2008). Development costs These costs are under IFRS if certain criteria are met, while they are expensed under U.S. GAAP (Forgeas, 2008). Similarities between IFRS and GAAP Below is a list of a few of the similarities between IFRS and GAAP. This list, as with the list of differences, is not an all-inclusive list but a selection of a few of the similarities. Entity Perspective The Boards are similar on the topic of users of financial statements. They both agree that the list of potential users is broad and includes investors, lenders, creditors, employees, suppliers, customers, governments and governmental agencies. They address the entity perspective as the corporation possessing a distinct separateness from its sources of capital providers (Conceptual framework for, para.BC1.11 2008). Primary User Group Again the topic of who the primary users of financial statements are is essentially the same of both Boards. IASB Framework, paragraph 10 says: As investors are providers of risk capital to the entity, the provision of financial statements that meet their needs will also meet most of the needs of other users that financial statements can satisfy. FASB Concepts Statement One focuses on the users of financial information being those whom use the information for investment and credit decisions (Conceptual framework for, para.BC1.3 2008).

Reigning In Hermits: The Conflict Between Individualism and Participation :: Essays Papers

Reigning In Hermits: The Conflict Between Individualism and Participation In the wake of Enlightenment thinkers like Hobbes and Locke, who asserted the primacy of the individual as the possessor of rights and emphasized the resulting legal equality of all men, the question arose of how an individual who originates in a state of nature interacts with society. Early 19th Century writers had an advantage in answering this question over the original thinkers in the form of a grand experiment in Enlightenment theory currently being conducted in America. Here, for the first time, was a democracy run by consent of the governed, all of whom were equal individuals before the law and, according to the dominant religious tradition, before God. The more thorough this leveling, Alexis de Tocqueville argued in Democracy in America, â€Å"the less [men] are inclined to believe blindly in any man or any class†¦all having the same means of knowledge, truth will be found on the side of the majority† (Tocqueville, 435). At the same time that the power of self-sty led authorities fades in both public and religious life and people are more apt to simply tow the line, he sees the ties that once created interdependence in aristocracies—economic dependency and social hierarchy—weaken, resulting in the isolation of the individual from public life, or, â€Å"individualism† (Tocqueville, 506-7). Tocqueville’s apprehension towards individualism was not merely a passing worry—he saw in its extreme form the potential for despotism to replace democracy. â€Å"Despotism, by its very nature suspicious, sees isolation of men as the best guarantee of its own permanence† (Tocqueville, 509). This tension between personal isolation and participation in civic life surfaced in other contemporary works as well, including Charles Finney’s â€Å"Lectures on Revival of Religion† and Ralph Emerson’s â€Å"On Self Reliance,† in which the former argued in a vein similar to Tocqueville’s that the nature of democracy will always create this conflict, and the latter disposed of democracy in favor of the individual. Tocqueville’s own reconciliation of the individual’s natural inclination toward isolation is found in his analysis of the nature of knowledge in democratic societies. On a purely practical political level, there must, he argued, be certain beliefs held in common by all citizens in order for common action to be taken to administer government (Tocqueville, 433). Local government is the individual’s closest connection to the public sphere, and the same selfish impulse that leads to individualism will make it necessary for him to form political associations to secure his interests.

In search of peachy love :: essays research papers

The love between father and daughter. Sometimes it's shared, however most often the father loves the daughter unconditionally whatever might happen. This peach story is very sad and colorless, to a point where if we did not have the peaches one would not be able to finish reading it. One day we have this father and daughter relationship. The girl whom from what we get in the story rarely comes to see her father: "although she couldn't remember when they had been together before" pg 60. The father who tries his hardest to make sure the girl has at least good memories of him. The girl seems to all thought the story treat her father like a business partner. In retrospective she still thinks about the littlest things that make him who he is from what he is wearing to the hairs on his mustache. I really could not tell if she really enjoyed her time at his house beyond telling him toward the end, or if she only thought he was funny: "Anyhow they were together and he was kind of funny." This is the last that we see of any love coming from the daughter's side. In this relationship the father tries to make his daughter like she is at home, by this showing that he loves her immensely. In the story there are several occasions that show that he misses his little girl and in his own way tries to convince her to stay a little longer. Through the simplest detail he lives out the best moment with his daughter. When they are out on a walk she spots a bunch of peaches through a store window, so he buys them for her appeasement. In his mind he cannot wait to share them with her. This way he could recall how she enjoyed the taste of the peaches he bought for her. Dad sits down, gives his daughter the best looking fruit and for himself he takes the only flawed piece of the peach bunch he bought. These fruit they share are the only way we know from the story they find a middle ground. The pair enjoys their treat in silence, father eating the good half of his fruit and daughter finishing hers. From his spoiled half of the peach and unwanted guest pa ys them a visit. This tiny Gaston, worm, bug etc. gives them the best topic of conversation so far.

Santiago as a Hemmingway Code Hero in The Old Man and the Sea :: essays research papers

Ernest Hemingway had a specific type of character in each and every one of his works of literature. These characters were called the Hemingway Code Heroes. Hemingway Code Heros followed a strict code of behaviors which allowed them to live their life to the fullest. These Heros lived simple lives without all the luxuries that others had. They concentrate on the problem at hand and do not get swayed by outside events. Avoiding intense personal relationships allows the Hero to stay focused. In The Old Man And The Sea, Santiago is considered the Hemingway Code Hero for many reasons. Santiago lived an extremely simple life, the life of a fisherman. Although sometimes he wished for some of the modern conveniences others had, he was able to do without them. Other fishermen had radios to pass the time while all Santiago had were his thoughts and sometimes the boy. The old man asked for the help of no one, for he did fine without the others. Santiago learned how to make due with the supplies that he had. On the boat while he is battling the mighty fish, he is able to deal with limited food and drink. He realizes he may be out at sea for a long time, so he rationalizes his supplies. Santiago copes with what he has. The sail on his boat is torn and tattered, consisting of countless rags stitched together. Mueller 2 Although a nicer sail would have been nice he knew that he could get by with the one he has. Santiago displayed a great deal of grace while under the pressure of catching his great adversary. While battling the marlin he always keeps his eye on the goal, and figures out new ways to get through the tight spots. Even when it seem that all hope is lost, he continues to persevere, so he may achieve his goal. When he is out at sea his hands cramp, and it looks as if he has to give up the fish, but he decides to stick with it in a hope that he may strive through the area of difficulty. His hands finally free up and he continues on his mission, just glad that he did not give up. Sharks attack the marlin on his voyage back to his small town, he works his hardest to keep them away. Santiago finds unique ways to keep them away.

Malls in America

When observing an autocratic atmosphere, one’s mind, body and soul becomes engrossed within their surroundings. Richard Francaviglia highlights this perspective through his article â€Å"The Mall as Disneyland. † H e explains how Walt Disney’s Main Street USA has set the precedent for all malls around America because it incorporates all aspects that entice one to enter this environment. David Guterson maintains a similar perspective in relation to Francaviglia’s article. Guterson further enlightens the reader in his article â€Å"The Mall as Prison† on the negative effects the Mall of America has, compared to Disneyland. The previous articles have provided thorough explanations on the social atmosphere of malls, whereas Lizabeth Cohen’s article â€Å"The Mall as Threat to Democratic Values,† addresses the legal aspects of malls in America. Each article, although not identical in their views, are effective in explaining each aspect a mall in America encompasses by using strong evidence to support each position maintained throughout the articles. Walt Disney played a larger role in American society than just providing entertainment; many developers turn to his park, Main Street USA, for ideas when they are designing modern American shopping malls. Walt Disney purposely designed Main Street USA to create a joyful environment. He carefully designed each of his small towns to a specific feature. One of those towns, Main Street USA, sole purpose was social interaction. Shopping malls are an abstract reincarnation of Disney’s Main Street USA. According to Richard Francaviglia in his article â€Å"The Mall as Disneyland,† Disney’s Main Street does not feature those inevitable services that indicate the other side, or darker sides of life. † He did not have pool halls, bars, or funeral parlors in his town. Disney tried to make fantasy come true. He used magical lighting to brighten up his town at night. By placing abstract images in exact spots he made reality appear joyful. Like malls today, Disney made his town so perfect that people would not want to leave. David Guterson’s narrative about the Mall of America delves into several facets that are embedded throughout the mall both physically and mentally. A vivid description about the mall’s interior design makes the audience feel like they have visited the mall. Guterson describes how people, individually and as a society, are affected psychologically by this pseudo-metropolis. The grandeur of the mall is, without question, second to none. Shoppers are drawn to visit because of all the modern frills contained within. A theme ark, arcade, hundreds of shops, and eateries are the staples of the mall, but the gardens, flowers, and trees define the mall as being â€Å"the best of the best. † The atmosphere created by combining â€Å"Mother Earth† with twentieth century technology creates a certain mystique to the mall and gives the shopper a very comfortable place to spend the day or maybe even days. In â€Å"The Mall as Disneyland† Disney himself does not sh ow any form of dark side of life, he created an abstracted image that it is so tempting to confuse with reality. Main Street USA is not the only instance of a shopping center providing an alternate sense of reality. In David Guterson’s writing â€Å"The Mall as Prison†, malls are compared to prisons. Guterson writes about how every mall can be like a prison, or an entrapment for the mind. There are, as Guterson points out, no windows or clocks or anything else to distract you from your shopping. Therefore you are consumed in the atmosphere which was built for the sole purpose of spending money and not thinking of reality. In Lizabeth Cohen’s article she states the legal actions malls have to endure when confronted with situations of free speech and social class. Diverse social groups are no longer integrated into central consumer marketplaces but rather are confined to differentiated retail institutions, segmented markets, and new hierarchies. In â€Å"The Mall as Disneyland† and â€Å"The Mall as A Prison† you are not limited to public shopping malls, according to your social status. Everyone is treated equally. Their main goal is to consume you into their world, the owners of the malls have used business strategies to keep their public focused on one thing; buying. By keeping you engaged with majestic structures and great distractions of light shows, movie theatres, roller coaster and much more.

Progressive case analysis Essay

Over decades operating in a highly competitive environment, the key strategy that makes Progressive the top three in the $165 billion US private passenger auto insurance industry is focusing on innovations and customer satisfaction. Established in 1937, from the beginning, Progressive approached the market with an innovative method by providing customers drive-in claims service and the ability to make monthly installment payments. That, on one hand, appealed more opportunities for people who could not afford paying insurance in lump sum to have their vehicles protected. Besides, it helped Progressive enter the market with competitive advantage to approach more potential customers. In 1957, by positioning the market correctly and understanding all market segments’ potential benefits that had not been realized by competitors, Progressive was willing to take risk to enter the nonstandard segment, which includes drivers with poor driving records or high risk profiles. This strategy, in turn, increased the company’s sales significantly and turned Progressive into a major brand in the insurance industry. The fierce competition of Allstate in the nonstandard market in 1985 and the approval of the Preposition 103 mandating insurance rate cuts of 20% in 1989 caused a crisis at Progressive. The company attempted to reduce cost by firing 1,300 employees. In addition, the efforts in understanding consumers’ perception and behaviors facilitated the company to launch its new strategy called Immediate Response in 1990 with the attempt to build trust in consumers. The main advantage of this strategy was that it speed claims process and increased customer satisfaction when accidents occurred. Immediate Response could be considered as one of the major improvements and transitions of Progressive that could help the company improve customer retention. Facing the intense competition, along with launching Immediate Response, in 1990, Progressive also focused on diversifying its product line by running experiment to write standard policies. The investment in training agents and changing their selling behaviors raised considerably consumers’ awareness of the company’s products in the preferred and standard segments, which consequently increased the company’s revenues significantly. In addition, the introduction of Express  Quote in 1993, which provided quotes from the top eight local competitors, turned Progressive into a full line supplier. This approach also helped the company have more chance to sell its products directly to consumers. The invention of Internet in 1995 facilitated Progressive to be the first company in the insurance industry selling its products online. This created competitive advantage for Progressive to compete when the company launched its website to help customers manage their policies as well as increase quoting and policy application processes. Progressive has never stopped innovating in its products. The application of GPS (Global Positioning Satellite) devices in 1998 t o track customers’ driving behaviors and the introduction of the new program called TripSense in 2000 helped the company implement usage based charging method. By offering discounts to drivers who got involved into these programs, the company tried to raise consumers’ awareness of the correlation between driving behaviors and risk of accidents. Customer satisfaction has always been the key metric driving Progressive’s strategy over time. In 2000, Concierge Service was launched to serve customers better in case of accidents. Instead of waiting for their damaged cars fixed, customers were now provided an instant replacement car while the repair was done. That way, Progressive could save time for customers and save storage and rental car cost for the company. Not only that, Progressive continued to introduce Total Loss Concierge service, which replaced cars that had been totaled. This strategy did not only help the company reduce turnaround time and replacing cars for profitable value but also increase customer satisfaction considerably. In the effort to diversify its product line and exploit more benefits from the current custom ers, in 2000, Progressive started offering homeowner’s policies. The purpose was to attract and retain current auto consumers who wanted to have their auto and home protected from the same insurance provider. However, the strategy confronted the problem of lacking data that help create a pricing advantage. Since 2000 until now, the company has had major changes in many different aspects such as management, company organization, information technology, human resources. Among those, it is that Glenn Renwick took over the role of Peter Lewis in the company’s executive management put the company in the harder challenge of competition. Notably, in 2006, while the insurance market was softening, the strategy to keep the price firm caused  Progressive some disadvantages. On the other hand, the fierce competition from strong competitors such as Allstate, State Farm and GEICO, whose advertising campaigns have been so aggressive that Progressive has to always keep an eye on them and keep improving. II. SWOT Analysis 1. Strengths Firstly, Progressive is among one of the top leading automobile insurers in the United States. It has a strong position in both personal automobile and commercial automobile markets. Progressive’s use of risk analysis among all automobile users has enabled it to increase the larger customer acceptance in comparison to its competitors. Secondly, progressive’s use of technology and data is excellent. Progressive was the first insurer to go online. The company invested heavily in information technology. Progressive used detail data on drivers to price its policies and could claim to be industry’s first. Progressive used website effectively to help customers get quick and information. Moreover, an online quote is helpful, easy and quick to compare prices when customers shop for home insurance without having to wait for an agent. Thirdly, Progressive had a strong distribution channel. It focused on direct sales and independent agents, which helped to expand its market share in the United States. In addition, progressive used innovative approaches to increase customer satisfaction. Total Loss Concierge level of claims service was designed to provide total auto physical damage losses. Customers could opt for a different car, and pay the difference if the value of the totaled car was less. Fourthly, Progressive has a strong and reliable workforce. Progressive has over 28,000 employees. When recruiting, company makes sure that the individuals can embrace technology and are comfortable with change. The company invests a great deal in training. Employees work in claims and are trained with skills related to Progressive careers. 2. Weaknesses: One of the weaknesses of progressive is operation expenses. Lewis’s principle â€Å"hire the best† and â€Å"pay the most† with the purpose to pay at the top end of industry pay scales for good employees’ performance can increase company’s expenses. In addition, this can create competitive pressures among the employees, which could result in negativity in the company. The other  weakness of progressive is its inability to create brand awareness. Its competitors like GEICO, State Farm and Allstate were better able to create customer awareness through advertisement campaigns. The company needs to focus on building a better brand awareness if it wants to increase its market share in the auto insurance industry. Another weakness of progressive is its failure to cope with pressure associated with competition from its competitors. Big players like, State Farm, Allstate and GEICO have created competitive pressure directly to Progressive. For example, Allstate’s low cost structure caused Progressive crisis and 1,300 employees fired Furthermore, progressive’s difficulty to smooth management transition is another weakness. When Peter Lewis stepped down as president in 2000 and Glenn Renwick took up the post, company went through some tough times. Renwick’s decision to raise insurance rate affected growth and profits adversely. 3. Opportunities Innovation has and will create great opportunities for growth. Greater innovation can bring Progressive the chance to get more unique products and services in order to meet customers’ needs better. Many innovative services such as Express Quote, Concierge Service have helped the Company to serve and satisfy clients better. Furthermore, the firm was in top CIO Magazine’s CIO-100 list in recognition of its innovative practices and products. In addition, its website usually rated as the best one, facilitates to accesses information more easily. Moreover, Internet is another area that has potential for growth. The development of Internet offers Progressive the chance to expand their business and access directly to customers. They also can market to a much broader user for relatively less price. Homeowner Insurance is another area that offers opportunity for growth for progressive. In 2000, progressive started offering homeowners policies. However, the company was unable to generate enough data to have pricing advantage so they cancelled the entire initiative in 2002. Now, with the advent of technological advancement progressive could once again explore this area to generate more revenue in the future. One other area that provides great opportunity for expansion and growth is Emerging markets. Emerging markets like China, India, Russia and Brazil are expanding at the rate of knots. Although there are various risks factors associated with doing business in these countries, there are also greater rewards that come with it. 4. Threats One of the threats Progressive faces is intense competition from its competitors. The insurance markets in the US are more and more competitive with a large number of players supplying a broad range of products and services. Progressive Corporation has to face fierce competition with these players. The three biggest rivals of the Corporation include State Farm, Allstate, and GEICO. â€Å"State Farm was number one in the personal auto insurance industry with a market share of 18% in 2006 and also the leading home insurer†. The follower is Allstate, the second largest player I both personal auto and homeowners’ industries with market shares of 11%-12% in each in 2006. Moreover, GEICO was the fourth largest personal auto insurer with a market share of 6.7% in the same year. The other threat Progressive face is changing rules and regulations. Insurance regulations vary considerably among different States of the United States. This varying regulation has great impact on the firm’s operation. For example, the Proportion 103 was passed on November 8, 1988 in California, which mandated rate cuts of 20% in 1989. Due to this Proportion, the company had to pay out $50 million to 260,000 policyholders. The benefit was seriously affected, along with the strong reduction of market share in California market. Increasing nature natural disasters is another threat that affects all insurance companies including Progressive. Natural disasters cause damage to both house and vehicle, which increases expense for the company. As predication, â€Å"major climate changes are likely to occur in the coming decades†. Therefore, insurers have a risk of facing with a trend toward higher losses due to more claims relating to natural disasters. Reduction in insurance rates and use of sophisticated data mining techniques are other threats to progressive. While insurance rates are softening, Progressive is determined to hold prices firm. This decision could make the customers get away to other insurers, whose rates are lower. â€Å"Everyone was using  sophisticated data mining techniques and focusing on better claim support†. This reduces the chance of being distinguished from other supp liers. III. Recommendations Innovation has historically proven to be a vital tool for progressive insurance. Therefore, the company should continue to put more weight on innovation. An innovation offers the company a chance to improve its products and services whereby it can gain competitive advantage over its competitors. Progressive should also invest money in advertising in order to increase customer awareness. Progressive already has a larger customer base, but if it wants to compete with the industry giants like Allstate and State Farm, it needs to invest more in advertisement to attract and engage more customers. Developing and expanding the company’s market in foreign countries is one-area progressive insurance needs to focus on if they are to reduce financial risks. Expanding the market in other countries enables progressive to maintain a stable finances in case the U.S economy goes down. Furthermore, progressive needs to work on new lines of products and services if they are to thrive in a highl y competitive industry. In addition, expanding business to other areas like providing financial services or home security systems provides Progressive Corporation with opportunity to diversify its income sources.

Australian Rules Notes Essay

Australian rules is set in a small rural town, where the relationships between the white townspeople and the Aboriginal people on the mission are complex, conflicted and marred by deeply entrenched racism. The local football team in many ways serves to represent the town, it reflects the conflicted relationship between the white people and the Aboriginal people- we begin to understand this as the film unfolds. Other themes inherent in the film are themes of family, love, loyalty and violence- the secrecy of domestic violence and the more overt forms of racial violence that spill out onto the public spheres of the football field and the pub. The opening narration informs us that half the football team is Aboriginal and that there would not be a football team without the Aboriginal players, therefore we understand how the town team relies on the talent and number of the Aboriginal players. We then witness the contradiction of the white and Aboriginal boys playing side by side as team members followed by the social segregation between the members after the match. This segregation is highlighted by Blacky (a white boy from town) and Dumby (an Aboriginal boy who is the best player on the team) whose friendship transcends these borders and we also witness ways that certain adults culturally impose this segregation between the white teenager and Aboriginal teenagers. In one of the beginning scenes, just after a football match, Dumby and Blacky want to ‘hang out’ together, but an older friend takes Dumby back to the mission and Blacky cannot follow. Blacky, Clarence and Dumby all call out to each other ‘Nukki n ya’ and this use of Aboriginal language between two Aboriginal teenagers and Blacky the white boy signifies the level of their friendship.

Health Care Spending Essay

Healthcare is a very important sector in the countries around the world. The countries and the government always keep some money in their budget in relation to the health care activities in their countries. In the United States of America also, there are certain provisions in relation to the health care. The paper shall discuss about the health care spending in relation to United States of America. It shall discuss about the current level of health care expenditure in United States of America. There are shall be a lot of discussion in relation to the fact that whether the expenditure on health care in United States of America is appropriate or not. It shall also discuss about the manner in which the health care needs of the people in United States of America are paid by the government. In the end of the paper, there shall be a forecast in relation to the health care spending in United States of America. All the above said things shall be discussed in detail in the current paper. The government of United States of America has made a lot of provisions in relation to the expenditure of health care facilities in United States of America. In the United States of America, the health care spending has been increasing continuously (Hawe, 2008). There have been a lot of funds kept by the government of United States of America in its budget in relation to the health care services. In the year 1990, the expenditure made by the government of United States of America in relation to the health care spending was $714 million. Since then, the amount of expenditure on health care has increase to $2. 3 trillion. This is around 3 times of what it was in the year 1990. The government of United States of America is spending around 16% of its total gross domestic production on providing the health care facilities to the people. It is estimated that around $7600 are spent by the government of United States of America for each and every resident in the country. In this way, it can be said that the expenditure in relation to health care in United States of America is quite good and the country is taking adequate steps for making sure that adequate health care facilities are provided to the people in a proper and appropriate manner. The health care spending of the United States of America is the highest all around the world. There is no problem with the extent of money spend by the country towards the health care. Other countries around the world are also spending some money towards the health care but the expenditure made by the government of United States of America is the highest. Currently the expenditure incurred in United States of America towards is adequate and appropriate. It has to increase only with the increase in population. According to the per capita expenditure, the current expenditure in the country towards the healthcare is appropriate. When the country makes the budget in relation to the health care expenditure, then it has to take care that adequate expenditure is incurred on each and every activity related to health care. The government of United States of America should make sure that it spends appropriate expenditure on each and every area of the health care. The expenditure should be more on the critical areas and it should be reduced on the areas which are not very difficult to handle for the government. The government of United States of America should make sure that it increases the expenditure of the health insurance of those people which are not in a position to afford the costs for themselves (U. S. Health Care Costs, n. d. ). The government should also increase the expenditure in relation to the funds provided to the health care organizations for providing the benefits to the poor people in the United States of America. The government of United States of America should also increase the expenditure in relation to some specific and high risk diseases such as Cancer, Aids etc. If the expenditure shall be reduced in relation to the above said activities then, there is a possibility that the people in United States of America shall be benefitted to a very high extent. Other than the above areas, there are certain areas in which the government of United States of America should look to reduce the expenditure. The cost on some of the areas in the health care should not be reduced to the extent it hampers the health care services. If there is a requirement to reduce the health care costs then, these should be reduced only till the services are not affected in a negative manner. The areas in which unnecessary costs are incurred by the government should be recognized and the costs should be reduced in those areas. In the United States of America, there are adequate sources used for the purpose of financing the health care services in the country. In the country, the funding for the health care services is done together by the government and the non government agencies in the country. While preparing the budget, the government of United States of America keeps a percentage of funds in relation to providing the health care services to the people who are in need and also the people which are not able to have the health care insurance for themselves. Other than the government of United States of America, there are various other forms of associations which work for the purpose of providing the health care services to the people. They not only provide the health care services but also provide the financial for the insurance of the patients. There are few programs also in relation to the same. The programs include Healthcare Facilities Accreditation Program, Community Health Accreditation Program and various other programs. The health care finance in the United States of America are funded by the above said facilities and things. In the United States of America, the government and the non government associations share 50% of the expenditure each. In this way, there is a proper sharing the expenditure. For the last few years, the healthcare expenditure in United States of America has been increased considerably at an increasing rate. It is expected that the healthcare expenditure in United States of America shall increase in the same rate as it was increasing earlier (Scambler, 2008). In the year 2007, the health care expenditure in United States of America was $2. 2 trillion. This amount increased to $2. 3 trillion in the financial year 2008. In this way, there was a definite increase in the health care expenditure in the two years. It is expected that the health care expenditure will grow even more. In the year 2013, the healthcare expenditure is expected to reach the figure of $3 trillion and in the year 2017, it is expected that the health care expenditure shall reach the figure of $4. 3 trillion. In this way, it can be said that there is a forecast of increased expenditure on health care in the years to come. The chart below provides the forecast for health care in a proper manner. This chart is showing the healthcare expenditure in United States of America. The government of United States of America is spending a lot of money on the healthcare services in the country. With the kind of expenditure, the government of United States of America is spending on the health care facilities in the country, it can be said that the government is spending sufficient amount of money on the health care facilities.

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Entreprenuership Failure Research Paper Example | Topics and Well Written Essays - 1500 words

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