Disadvantages of Democracy Essay

In a democratic nation, it is the citizens who hold the right to elect their representatives and their governing authorities. According to a common observation, not all the citizens are fully aware of the political scenario in their country. The common masses may not be aware of the political issues in society. This may result in people making the wrong choices during election. As the government is subject to change after every election term, the authorities may work with a short-term focus. As they have to face an election after the completion of each term, they may lose focus on working for the people and rather focus on winning elections. Another disadvantage of democracy is that mobs can influence people. Citizens may vote in favor of a party under the influence of the majority. Compelled or influenced by the philosophies of those around, a person may not voice his/her true opinion. Every form of government is bound to have some shortfalls. Different people have different views about the various political systems. The advantages and disadvantages of any political system have to be weighed carefully in order to arrive at any conclusion. Why democracy A functioning democracy is the form of government that provides its citizens with the most freedom, the most opportunity, the greatest prosperity, and the most comfortable life. It is also the most stable form and by far the most fun. In a democracy you can choose precisely the religion that is most meaningful to you, and you can choose your spouse and your education. You can listen to any kind of music, and you are free to watch any movie and read any book that you like. You can move around freely and you do not have to ask anybody for permission to do so. You can also choose freely what kind of clothes you wish to wear. If you belong to a minority, you are protected against assault and infringement, and you have exactly the same right to go into politics and influence society as anybody else. If you are a woman, you have by law the same rights and opportunities as a man. Your father, your brothers, your cousins, your uncles, or your husband have no right to rule over you. You have the same right to education, training, and work, and you have the same opportunity for a free and a great life as boys and men have. You also have the legal right to make decisions regarding your body and to say â€Å"no† to sex if you do not desire it, even in marriage. You and all others are equal before the law, you have the right within legal limits to say and write what you want short of slander and libel, and you can meet freely with anybody. You can live without fear of the authorities. The same goes for your children and your extended family. In plain words: Democracy gives you the right to liberty, equality of opportunity, and safety, and the opportunity to earn and keep your own money and to have fun. The desire for freedom and security is in every one of us, and so is the need to have fun. Without those three things, we cannot live a happy and meaningful life. The need for equality of opportunity is a little more problematic than the other needs, since many of us would like to be a little better off than our fellows. But equality of opportunity is a prerequisite for democracy too, and it is worthwhile, as it helps to guarantee freedom, safety and fun. Therefore, democracy is not only important, it is vital! Simply because we’re all human, we all deserve to live in a democracy that works. Why democracy is better than other form of gov. Democracy is the best form of government because 1. Democracy represents the views and notions of all the citizens of the country, whether majorities or minorities. 2. It helps in solving conflicts and quarrels in a better way. 3. It provides a dignity to the people. 4. It helps in realising one’s mistakes and improving upon them. 5. There is no other form of government or an lternative better than a democracy. DEMOCRACY is the best form of govt.  Yes democracy is the best form of govt. It grants us many things. 1.Right to speech. 2.Right to information. 3.Right to vote and etc. It represents each and every citizen equally whether you are poor or you are rich. In a monarchy or dictatorship no one can say or present their point of view. They have to follow what a single man says but in democracy we have been granted by RIGHT TO SPEECH. Report Post Yes democracy is the best form of government. Democracy is the best form of government simply because no other form of government is known to work well. Democracy may have it’s flaws but all in all it works very fluidly. Socialism, for example, does not even come close to the best form of government. One can easily see this in Greece’s current state. Democracy has never led to complete government disorder like one can see Socialism does. Democracy is the best form of government As democracy means rule of people †¦ That is of the people for the people and by the people. Democracy is a form of government in which all eligible citizens participate equally—either directly or through elected representatives. Democracy is the best form of government simply because no other form of government is known to work well. Democracy may have its flaws but all in all it works very fluidly. Some plus points of having a democratic form of government:- 1. Freedom 2. Democracy represents the views and notions of all the citizens of the  country, whether majorities or minorities. 3. It helps in solving conflicts and quarrels in a better way. 4. It provides a dignity to the people. 5. Democracy allows various people to rule the country through the representatives. 6. It also allows people to express themselves clearly and freely. 7. It Respects & promotes Human Rights 8. In this form of government all people are equal before the law. 9. Democracy is the only form of government where the people can voice their opinion. 10. In my view there is no other alternative form of government better than a democracy.

China Insurance Market Outlook to 2016 – Driven by Automobile Insurance Market

1  © This is a licensed product of Ken Research and should not be copied TABLE OF CONTENTS 1. 1. 1. 1. 2. 1. 3. Asia-Pacific Insurance Industry Industry Introduction Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P Asia-Pacific Insurance Market Segmentation 1. 3. 1. By Geography, 2005-2012P 1. 3. 2. By Life and Non Life, 2005-2012P 1. 4. Asia-Pacific Insurance Industry Future Outlook 1. 4. 1. By Geography, 2013-2016 3. 3. 1. 3. 2. 4. 5. 5. 1. 5. 2. 5. 3. 5. 4. 6. 6. 1. 7. 7. 1.China Insurance Industry China Insurance Value Chain China Insurance Market Size by Direct Written Premium, 2005-2012 China Insurance Government Regulations China Life Insurance Market China Life Insurance Market Size, 2005-2012 China Life insurance Claim Paid, 2005-2012 Market Share of Major Life Insurers in China, 2012 China Life Insurance Market Future Outlook and Projection, 2013-2016 China Non-Life Insurance Market China Non-Life Insurance Market Size, 2005-2012 Non-Life Insurance Segmentation, 2005-2012 China Property and Casualty Insurance Industry 7. 1. 1. China Property and Casualty Insurance Market Size, 2005-2012 7. . 2. China Property and Casualty insurance Claim Paid, 2005-2012 7. 1. 3. Property and Casualty Insurance Segmentation, 2005-2012 7. 1. 4. Market Share of Major Property and Casualty Insurers in China, 2012 2  © This is a licensed product of Ken Research and should not be copied 7. 1. 5. China Property and Casualty Insurance Market Future Outlook and Projection, 20132016 7. 2. China Motor Insurance Industry 7. 2. 1. China Motor Insurance Market Size, 2005-2012 7. 2. 2. China Motor Insurance Market Future Outlook and Projection, 2013-2016 7. 3. China Commercial Property Insurance Industry 7. 3. 1.China Commercial Property Insurance Market Size, 2005-2012 7. 3. 2. China Commercial Property Insurance Market Future Outlook and Projection, 2013-2016 7. 4. China Agricultural Insurance Industry 7. 4. 1. China Agricultural Insurance Market Size, 2005-2012 7. 4. 2. China Agricultural Insurance Market Future Outlook and Projection, 2013-2016 7. 5. China Liability Insurance Industry 7. 5. 1. China Liability Insurance Market Size, 2005-2012 7. 5. 2. China Liability Insurance Market Future Outlook and Projection, 2013-2016 7. 6. China Credit Insurance Industry 7. 6. 1. China Credit Insurance Market Size, 2005-2012 7. 6. 2.China Credit Insurance Market Future Outlook and Projection, 2013-2016 7. 7. China Accident Insurance Industry 7. 7. 1. China Accident Insurance Market Size, 2005-2012 7. 7. 2. China Accident Insurance Market Future Outlook and Projection, 2013-2016 7. 8. China Cargo Insurance Industry 7. 8. 1. China Cargo Insurance Market Size, 2005-2012 7. 8. 2. China Cargo Insurance Market Future Outlook and Projection, 2013-2016 7. 9. China Health Insurance Industry 7. 9. 1. China Health Insurance Market Size, 2005-2012 7. 9. 2. China Health insurance Claim Paid, 2005-2012 3  © This is a licensed product of Ken Research a nd should not be copied . 9. 3. China Health Insurance Market Future Outlook and Projection, 2013-2016 7. 10. Market Share of Major Non Life Insurers in China, 2011 7. 11. China Non-Life Insurance Market Future Outlook and Projection, 2013-2016 8. 9. China Insurance Industry Trends and Developments China Insurance Industry Future Projections, 2013-2016 9. 1. Cause and Effect Relationship Between Dependent and Independent Factors Prevailing in China Insurance Market 10. Company Profile of Major Players in China Life Insurance Industry 10. 1. China Life Insurance 10. 1. 1. Company Profile 10. 1. 2. Business Strategies 10. 1. 3.Financial Performance 10. 2. Ping An Life Insurance 10. 2. 1. Company Profile 10. 2. 2. Business Strategies 10. 2. 3. Financial Performance 10. 3. New China Life Insurance 10. 3. 1. Company Profile 10. 3. 2. Business Strategies 10. 3. 3. Financial Performance 11. Company Profile of Major Players in China Non-Life Insurance Industry 11. 1. Public Insurance Compan y of China (PICC) 11. 1. 1. Company Profile 11. 1. 2. Business Strategies 11. 1. 3. Financial Performance 11. 2. China Pacific Insurance (CPIC) 4  © This is a licensed product of Ken Research and should not be copied 11. 2. 1. Company Profile 11. 2. 2.Business Strategies 11. 2. 3. Financial Performance 12. China Insurance Industry Macro-Economic Indicators: Historical and Projections 12. 1. China Population, 2005-2016 12. 2. GDP of China, 2005-2016 12. 3. Healthcare Expenditure of China, 2005-2016 12. 4. Total Vehicle in Use in China, 2007-2016 13. Appendix 13. 1. Market Definitions 13. 2. Abbreviations 13. 3. Research Methodology Data Collection Methods Approach Variables (Dependent and Independent) Multi Factor Based Sensitivity Model Final Conclusion 13. 4. Disclaimer 5  © This is a licensed product of Ken Research and should not be copied LIST OF FIGURESFigure 1: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012P Figure 2: As ia-Pacific Insurance Market Segmentation by Life and non Life on the Basis of Direct Written Premium in Percentage, 2005-2012P Figure 3: Insurance Value Chain Figure 4: China Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 5: China Life Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 6: China Life Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 7: Market Share of Major Life Insurers on the Basis of Direct Written Premium in Percentage, 2012 Figure 8: China Life Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 9: China Non Life Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 10: China Non life Insurance Market Segmentation by Property and Casualty and Health Insurance on the Basis of Direct Written Premium in Percentage, 2005-2012 Figure 11: Chin a Property and Casualty Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 12: China Property and Casualty Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 13: China Property and Casualty Insurance Market Segmentation by Motor, Commercial Property, Agricultural, Liability, Credit, Accident, Cargo and Others Insurance on the Basis of Direct Written Premium in Percentage, 2005-2012 Figure 14: Market Share of Major Property and Casualty Insurers on the Basis of Direct Written Premium in Percentage, 2012 Figure 15: China Property and Casualty Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 6  © This is a licensed product of Ken Research and should not be copied Figure 16: China Motor Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 17: China Motor Insurance Market Projections on the Basis of Direct Writ ten Premium in USD Million, 2013-2016 Figure 18: China Commercial Property Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 19: China Commercial Property Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013 -2016 Figure 20: China Agricultural Insurance MarketSize on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 21: China Agricultural Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 22: China Liability Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 23: China Liability Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 24: China Credit Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 25: China Credit Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 26: China Accident Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 27: China Accident Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 28: China Cargo Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 29: China Cargo Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 30: China Health Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 7  © This is a licensed product of Ken Research and should not be copiedFigure 31: China Health Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012 Figure 32: China Health Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 33: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium in Percentage, 2011 Figure 34: China Non life Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 35: China Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 Figure 36: China Life Insurance Net Written Premium of China Life Insurance Company in USD Million, 2006-2012 Figure 37: China Life Insurance Premium Income of Ping An Life Insurance in USD Million, 2008-2012 Figure 38: China Life Insurance Premium Income of New China Life Insurance in USD Million, 2006-2012 Figure 39: China Life Insurance Premium Income of Public Insurance Company of China in USD Million, 2005-2011 Figure 40: China Life Insurance Gross Written Premium of China Pacific Insurance in USD Million, 2008-2011 Figure 41: China Population in Million, 2005-2016 Figure 42: GDP of China in USD Million, 2005-2016 Figure 43: Healthcare Expenditure of China in USD Million, 2005-2016 Figure 44: Total Vehicle in Use in China in Million, 2007-2016 8  © This i s a licensed product of Ken Research and should not be copied LIST OF TABLESTable 1: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of Direct Written Premium in USD Billion, 2005 -2012P Table 2: Asia-Pacific Insurance Market Segmentation by Life and Non Life on the Basis of Direct Written Premium in USD Billion, 2005 -2012P Table 3: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct Written Premium in USD Million, 2013-2016 Table 4: Market Share of Major Life Insurers on the Basis of Direct Written Premium in USD Million, 2012 Table 5: Market Share of Major Property and Casualty Insurers on the Basis of Direct Written Premium in USD Million, 2012 Table 6: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium in USD Million, 2011 Table 7: Cause and Effect Relationship Analysis between Industry Factors and Expected Industry Prospects of China Insurance Market Table 8: Correlation Matrix of China Insurance Indust ry Table 9: Regression Coefficients Output of China Insurance Industry 9  © This is a licensed product of Ken Research and should not be copied ASIA-PACIFIC INSURANCE MARKET SIZE BY DIRECT WRITTEN PREMIUM, 2005-2012P The insurance market in Asia-Pacific region has grown remarkably over the past few years due to the growth in the emerging markets such as China, Japan, India, Australia, Taiwan and South Korea. The countries in the Asia-Pacific region are at different stages of economic development unlike the European countries and the US which has created significant opportunities for the insurers in the region in order to serve the financial needs of the customers.The market in the region has grown at a CAGR of 11. 9% from USD ~ million in 2005 to USD ~million in 2012†¦ Figure: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012P 16,00,000. 0 14,00,000. 0 12,00,000. 0 USD Million 10,00,000. 0 8,00,000. 0 6,00,000. 0 4,00,000. 0 2 ,00,000. 0 0. 0 2005 2006 2007 2008 2009 2010 2011 2012P 10  © This is a licensed product of Ken Research and should not be copied ASIA-PACIFIC INSURANCE MARKET SEGMENTATION BY GEOGRAPHY, 2005-2012P Asia-Pacific insurance industry is majorly contributed by 6 major countries such as Japan, China, South Korea, Taiwan, India and Australia with the share of ~% in 2012.Japan insurance market is the second largest in the world with the contribution of more than ~% in 2012†¦. The China insurance industry is China insurance industry is one of one of the predominant markets in the insurance industry the predominant markets in the in the Asia-Pacific region with a contribution of ~% of the insurance industry in the AsiaPacific region with a contribution direct written premium in the region in 2012†¦ South Korea is the third largest market with a contribution of ~% in 2012. The country insurance sector is more complicated with limited growth opportunities in comparison with the gro wing market in the region such as China and India†¦ of ~% of the direct written premium in the region in 2012.Table: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of Direct Written Premium in USD Billion, 2005-2012P Countries Japan China South Korea Taiwan India Australia Hong Kong Singapore Thailand Malaysia 2005 2006 2007 2008 2009 2010 2011 2012P 11  © This is a licensed product of Ken Research and should not be copied Indonesia New Zealand Philippines Vietnam Pakistan Kazakhstan Bangladesh Sri Lanka Total 12  © This is a licensed product of Ken Research and should not be copied CHINA INSURANCE INDUSTRY CHINA INSURANCE MARKET SIZE BY DIRECT WRITTEN PREMIUM, 2005-2012 The Chinese insurance industry has seen rapid expansion during 2005-2012 and will continue to see high growth rates in the next few years.The insurance market in the country has witnessed a compound annual growth rate of ~% in the last seven years and has recorded direct written premiu m of USD ~ million in 2012†¦ Figure: China Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012 3,00,000. 0 2,50,000. 0 USD Million 2,00,000. 0 1,50,000. 0 1,00,000. 0 50,000. 0 0. 0 2005 2006 2007 2008 2009 2010 2011 2012 Note:Life Insurance is in Premium Income Non-Life Insurance is in Premium Income 13  © This is a licensed product of Ken Research and should not be copied CHINA LIFE INSURANCE MARKET CHINA LIFE INSURANCE CLAIM PAID, 2005-2012 China life insurance industry has paid a claim of USD 20,128. million in 2011 due to an occurrence of natural disaster in mainland China in the first half of 2011. China has been the world’s most existing marketplace for global insurers for a decade and it looks set to retain its status in the near future. The country life insurance industry has experienced an incline in claim paid from USD ~ million in 2010 to USD ~ million in 2011†¦. . Figure: China Life Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012 25,000. 0 20,000. 0 USD Million 15,000. 0 10,000. 0 5,000. 0 0. 0 2005 2006 2007 2008 2009 2010 2011 2012 Note:Life Insurance is in Premium Income 14  © This is a licensed product of Ken Research and should not be copiedMARKET SHARE OF MAJOR LIFE INSURERS IN CHINA, 2012 China life insurance industry is a concentrated market with top five players contributing around ~% of the total life insurance direct written premium in 2012. China life is the leading player in China life insurance industry with the contribution of approximately ~% of the total direct written premium of the life insurance industry in China in 2012†¦. Figure 1: Market Share of Major Life Insurers on the Basis of Direct Written Premium in Percentage, 2012 China Life shares Ping An Life New China Life CPIC Life PICC Life Taikang TPL (Taiping Life) Sino Life Others Note: Life Insurance is in Premium IncomeTable: Market Share of Major Life Insurers on the Basis of Direct Written Premium in USD Million, 2012 Players China Life shares Ping An Life New China Life 2012 15  © This is a licensed product of Ken Research and should not be copied CPIC Life PICC Life Taikang TPL Sino Life Others Total Source: Insurance Association of China and Ken Research Note:Life Insurance is in Premium Income CHINA NON-LIFE INSURANCE MARKET NON-LIFE INSURANCE SEGMENTATION, 2005-2012 The country non life insurance market is dominated by property and casualty segment with the contribution of ~% in 2012†¦ The motor vehicle is the leading contributor in property and casualty segment China non life insurance market is dominated by property and with the share of around ~% in 2012.The motor vehicle casualty segment with the insurance is divided into two types such as compulsory contribution of ~% in 2012. liability and voluntary insurance. The second largest contributor in property and casualty segment is property with the share of approximately ~% in 201 2 followed by agricultural insurance with the share of ~% in 2012. The health insurance market contributes ~% of the non life insurance industry in China in 2012. The private health insurance coverage in the country has expanded and now it covers approximately ~% of China’s population. The health insurance coverage in the country has grown at an impressive rate of ~% annually over the past 10 years.The number of health insurance plan in the country has also increased from around ~ in 2008 to over ~ in 2011. 16  © This is a licensed product of Ken Research and should not be copied Figure 2: China Non life Insurance Market Segmentation by Property and Casualty and Health Insurance on the Basis of Direct Written Premium in Percentage, 2005-2012 100. 0% 90. 0% 80. 0% 70. 0% 60. 0% 50. 0% 40. 0% 30. 0% 20. 0% 10. 0% 0. 0% 2005 2006 Health Note:Non-Life Insurance is in Premium Income In Percentage % 2007 2008 2009 2010 2011 2012 Property and Casualty CHINA PROPERTY AND CASUALTY I NSURANCE INDUSTRY CHINA PROPERTY AND CASUALTY INSURANCE CLAIM PAID, 2005-2012The Chinese property and casualty insurance industry has paid USD ~ million claims in 2011 in which approximately USD ~ was paid in August 2011 which was recorded as the highest claim paid in the year†¦ In 2009, the combined ratio of property and casualty insurance industry has improved to ~% and this positive trend in the market is accelerated in 2010 and in the first half of 2011 in which the industry has recorded the combined ratio of ~% and ~% respectively for the top three insurers in the country which include PICC, Ping An Property and Casualty and CPIC Fiscal. 17  © This is a licensed product of Ken Research and should not be copied Figure: China Property and Casualty Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012 50,000. 0 45,000. 0 40,000. USD Million 35,000. 0 30,000. 0 25,000. 0 20,000. 0 15,000. 0 10,000. 0 5,000. 0 0. 0 2005 2006 2007 2008 20 09 2010 2011 2012 Note:Property and Casualty Insurance is in Premium Income CHINA MOTOR INSURANCE INDUSTRY CHINA MOTOR INSURANCE MARKET FUTURE OUTLOOK AND PROJECTION, 2013-2016 †¦The country automobile insurance market is expected to earn direct written premium of USD ~ million in 2016 which is up from USD ~ million in 2011. This is due to an expected increase in the car ownership in the country as there are only 35 million cars for the population of ~ billion in 2011. 18  © This is a licensed product of Ken Research and should not be copiedFigure: China Motor Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 1,80,000. 0 1,60,000. 0 1,40,000. 0 USD Million 1,20,000. 0 1,00,000. 0 80,000. 0 60,000. 0 40,000. 0 20,000. 0 0. 0 2013 Note:Motor Insurance is in Premium Income 2014 2015 2016 19  © This is a licensed product of Ken Research and should not be copied ASIA-PACIFIC INSURANCE INDUSTRY FUTURE OUTLOOK †¦Overall, the market of the Asia-Pacific insurance is expected to grow at a CAGR of 11. 2% from 2013-2016. The market in the near future is expected to witness consolidation and higher competition level with the entrance of more global players in the market†¦ ASIA-PACIFIC INSURANCE INDUSTRY FUTURE PROJECTIONSBY GEOGRAPHY, 2013-2016 The Asia-Pacific Insurance industry is expected to grow at a CAGR of 11. 2% from 2013-2016 on account of rising population in the emerging market of Asia such as India and China. It is anticipated that the total direct written premium of the insurance products will increase to USD ~ million in 2016 from USD ~ million in 2012. Table: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct Written Premium in USD Million, 2013-2016 Countries Japan China South Korea Taiwan India Australia Hong Kong Singapore Thailand 2013 2014 2015 2016 20  © This is a licensed product of Ken Research and should not be copiedMalaysia Indonesia New Zealand Philippines Vietnam Pakistan Kazakhstan Bangladesh Sri Lanka Total CHINA INSURANCE INDUSTRY FUTURE PROJECTIONS, 2013-2016 In the base case scenario analysis the insurance industry in the country is expected to grow at a phenomenal rate of 17. 7% in the next four years and is predicted to record the direct written premium of USD ~ million in 2016†¦ The worst case scenario analysis assumes that the country insurance market is anticipated to grow at a marginal rate of 6. 9% from 2013-2016 in comparison to the historical years†¦ The best case scenario analysis predicts the remarkable growth of 28. 5% in the next five years.The country’s insurance market is expected to record direct written premium of USD ~ million by 2016. 21  © This is a licensed product of Ken Research and should not be copied Figure: China Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016 8,00,000. 0 7,00,000. 0 6,00,000. 0 USD Million 5,00,000. 0 4,00,000. 0 3,00,00 0. 0 2,00,000. 0 1,00,000. 0 0. 0 2013 Worst Case Note:Life Insurance is in Premium Income Non-Life Insurance is in Premium Income 2014 Base Case 2015 Best Case 2016 22  © This is a licensed product of Ken Research and should not be copied CAUSE AND EFFECT RELATIONSHIP BETWEEN DEPENDENT AND INDEPENDENT FACTORS PREVAILING IN CHINA INSURANCE MARKETTable: Cause and Effect Relationship Analysis between Industry Factors and Expected Industry Prospects of China Insurance Market Industry Factors Strict Government Regulations and Support Increasing Population Market Impact Comments ? Cause: ? Positive Effect: ? Cause: ? Effect: ? Cause: ? Effect: ? Cause: ? Positive Effect: ? Negative Effect: Increasing Consumer Spending Intensifying Competition DISCLAIMER No part of this manual or any material appearing may be reproduced, stored in or transmitted on any other Web site without written permission of Ken Research and any payments of a specified fee. Requests to republish any material may be sent to us. 23  © This is a licensed product of Ken Research and should not be copied

Strategic Management Degree Case Study Example | Topics and Well Written Essays - 1000 words

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Transportation in Manchester - Report Essay Example | Topics and Well Written Essays - 1500 words

Transportation in Manchester - Report - Essay Example The rural population moves to these urban cities for better opportunities of work, a chance of a better education; this influx of people is from foreign countries too. This human congestion leads to traffic congestion. Although, human influx helps these cities prosper in terms of human capital, intellectual capital and provision of labour; the paradox of traffic congestion comes into play (Smith, 1980). This report will highlight some of the issues that the city of Manchester faces due to traffic congestion. Also, some probable, implementable solutions to the problems will also be provided. Some of them may already be at work, however, can be implemented in a much better way. According to research in 2002, there are nearly half a million traffic jams in the Britain every year; this means that weekly there were about 10,000 congestion reports in a week. Surely, this figure has decreased in light of the initiatives taken by the transport authority; it still hasn’t completely solved the problem. The issues of traffic in Manchester are never-ending. These issues are likely to multiply if proper policy implementation and technology is not used to curtail the issues. Changing population demographics pose a threat to this deteriorating situation in the city. It is expected that by 2015, there will be multiple changes present in the size and of the city’s population; people will more to new places to work, with diverse backgrounds, increase in autonomy of the people in the policy system etc. The issue of hassle-free transportation has to be catered to on urgent basis and proper planning should be done, based on future projections and trends. One of the biggest issue that the people of Manchester faces considering the transport system is the traffic jams at rush hour. This is a pressing problem being faced all over the world. Traffic congestion at peak hours occurs as most of the vehicle owners start moving around the city. The

HRM practice in other countries Lab Report Example | Topics and Well Written Essays - 1250 words

HRM practice in other countries - Lab Report Example It has been estimated that today the company provides fixed-line wireless and internet services to over 63 million customers spread across 16 countries (Plunkett). Emirates Data Clearing service (EDCH), one of the five divisions offers international roaming services for 57 third party GSM providers in 39 countries. The firm’s other important divisions are Emirates Internet Exchange (EMIX), UAE Network Information Center (UAEnic), Evision, Ebitkar, the Contact Center, e-Academy, and UAELAB. The company has numerous other international investments. Given below are some of the major organizations where Estisalat has its considerable investment. 1. Thuraya: It is the mobile satellite service which covers more than 140 countries in three continents. In addition to telecommunication services, Thuraya provides technical support to gas, mining, agriculture, and maritime services. Estisalat holds 34% of share in Thuraya. 4. Estisalat Nigeria (EMTS): This is the largest investment of the company. Estisalat has distinguished the region as the most potential market. Estisalat enters the market through Mubadala Development Company. What made the company most powerful giant in the telecommunication industry is its business vision and HR strategy. The company’s vision statement says, â€Å"People will effortlessly move around the world, staying in touch with family, making new friends as they go, as well as developing new interests. Business of all sizes, no longer limited by distance, will be able to reach new markets. Innovative technologies will open up fresh opportunities across the globe, allowing supply of new goods and services to everyone who wants them† (Estisalat). It speaks everything about the potential market the company has been utilizing for decades for its business expansion. The more the mobility of people, the more they use technological advancements especially telecommunication

Answer the question from the book Essay Example | Topics and Well Written Essays - 750 words

Answer the question from the book - Essay Example in other instances, most of the IT departments do not have budgets of their own. They, in most cases charge other departments for the services that they provide to them. As such, it becomes hard for the department to project its expenditure levels. Moreover, equipment keeps changing, with the increase in the level of technology and innovation. It makes it difficult to track this whole expenditure record, one that puts into consideration all the expenses including the miscellaneous. 2. To answer the question as to whether IT systems are an expense or an asset, first it is important to understand the difference between an asset and an expense. While an asset is an economic resource, an expense takes away economic resources. Initial investments in IT systems are an asset to an organization like IVK (Austin et al. 54). On the other hand, they are an expense if they became obsolete. It is unfair classifying the systems as expenses, despite their high initial costs. For instance, telephone s were an expense when every department required them. They made communication within the organization easy and simple, and more efficient. They simplified the mode of communication in the organization, and made the daily operations easy. Activities ran smoothly with improved communication. Their contribution to the overall out was overwhelming. These were assets to the organization. However, with the technological advancement in the organizations, there was the introduction of better communication methods such as e-mail. This made telephones obsolete, making them an expense, as the organization had to faze them out indefinitely. This makes them more an expense at the end. 3. IT as a department has little expenses. Because the department provides services to other departments, it is important for the organization to allocate the IT expenses to these departments. On its own, the IT department spends less, as it only require keeping its operations going. The main reason for the establ ishment of IT departments in organizations was to provide technology and communication services to the rest departments. This makes IT the biggest and most interactive department in an organization, as the organization entirely relies on it for these services. Choosing to allocate all IT related expenses to the IT department would leave it with a huge budget. Nonetheless, it is difficult to track all expenses of the IT department. Condensing all the organizational expenses on IT services under the IT department, there would be no track of organizational expenditure on the IT department, and thus poor track of the organizational expenses. 4. The IT should operate just like any other organizational department. Although, due to the sensitivity in operations of the IT department, in most cases, the department runs its operations independently, there should be a limit as to how far this freedom could go. As established by Reuben, it is hard to keep track of all the expenditures in the IT department (Austin et al. 61). On the other hand, there is the need for monitoring of its operations as well as regulation. Therefore, the department should not be independent altogether. There should be a framework regulating the amount IT spends, to make sure it does not overstate its budget. 5. Acquiring new systems is an expensive affair. Therefore, most of the organizations opt to maintain the existing systems, as long as their importance

MicroFHess Essay Example | Topics and Well Written Essays - 1500 words

MicroFHess - Essay Example Example: as more and more fertilizers are employed by the famers, production of crops may increase by the same unit of fertilizers employed, ceteris paribus. 3. Economic profit is the difference between revenues received from the sale of output and opportunity cost (Mankiw, 1998). For example, the difference between incomes received from selling a car and forgone alternatives of making that car. 4. Law of diminishing returns states that when other factors are held constant any additional unit of input leads to an increase in output at a declining rate till at a certain point where any additional input leads to a decline in output (Hall and Lieberman, 2010). For example, if more fertilizers are added in the production of wheat the output increases till a certain point when any additional unit of fertilizers added leads to a decline in output of wheat. 5. Marginal product of labour is the additional amount of output that is being produced when a firm decide sto employ additional labour in the production process (Hall and Lieberman, 2010). For example, a firm may produces 10 units of output with a labour of 5 people, and after adding another 5 people output may increases to 20 units. 6. Monopolistic competition. Is a type of market structure with many sellers selling similar but differentiated products whereby each seller has the freedom of setting his or her own selling price (Mankiw, 2011). Example: in the United States numerous sellers differentiate their products and the prices for those products (Mankiw, 2011). 7. Sunk cost refers to the amount of money that has already been spent and can not be recovered (Hall and Lieberman, 2010). For example: Amount of money incurred by investor to start and operate a business. 8. The principal-agent problem refers to a conflict of interest that arises when the agent pursues the same interest as his principal (Mankiw, 2011). Example: car dealer hires an agent to sell his cars to particular

Impacts of Culture on Learning and Epistemology Essay

Impacts of Culture on Learning and Epistemology - Essay Example As our class readings have explained, even the way that knowledge is acquired in the first place can have a profound effect on how that knowledge is understood, transmitted, retained, passed on, and applied in the future. For instance, in certain Asian cultures questioning the author, the text, or the instructor is considered unconstructive and/or rude (Lei et al, 2011). As such, this type of learning environment deeply affects the extent to which constructive skepticism takes place and may retard deductive reasoning abilities of the student to a certain degree (Zhu et al, 2010). This is not to pick one culture out from the group and point out its shortcomings; rather, the intention is to show that on aggregate, every culture has attributes that directly affect the way we perceive, understand and apply knowledge. Likewise, with respect to intellectual property and original ownership of a set of ideas, cultural differences allow for a wide array of interpretations. What would be consi dered cheating in many Western universities or institutes of higher education is not necessarily frowned upon elsewhere in the world as it is perceived that a positive benefit of learning is synthesizing other people’s work (even without attribution) into one’s own. Likewise, research methodology, argued by some to be an exact science which has withstood the test of time and continues to be a determining factor of success for many students, can perhaps be seen as the crux of the matter as it relates to knowledge, learning, and the cultural influences that benefit and inhibit each one of us (Kinasevych, 2011). For instance, while performing research within the rubric of a formalized research methodology, a student may have fewer inhibitions regarding liberally borrowing the work of another without proper attribution as this would be seen as a net positive and not necessarily a serious infraction of academic integrity (Jorge, 2011). Likewise, a student with a particular cultural background might be very hesitant to choose a thesis topic that would likely have a contesting view of that of their advisor. Again, none of these situations explain an absolute; instead, they are simply extant to remind the reader that cultural influences in the way we learn, maintain, question, and use the knowledge provided us have a major impact on how we view the world and interact with it. As has been evidenced through the course readings and lecture notes, culture and the way one learns so intimately affects the way in which one presents and understands information as it cannot be rightly overstated. Whether it is the particular/peculiar method of learning, differentiated attitudes towards borrowing of ideas (plagiarism), or the compound impacts of culture on formalized research methodology have a profound impact on how we view the world. As is the case with this author, I have grown up attending Western schools and learning Western concepts of how to attain, apply, and question knowledge from my earliest years. As such, I would be remiss if I did not discuss the most serious drawback that I see in my own cultural learning experience; the attitude towards plagiarism. Although it is inarguable

The human society today Essay Example for Free

The human society today Essay There are several reasons of prejudice in the human society today. Undeniably the diverse situation among the human population in the society today makes the said situation much harder to deal with. This is the reason why a motion to propose a program that shall handle the difficulties that several individuals experience because of prejudice shall be presented herein. The said program application shall be based upon a particular study that is to be based upon the researches that had been used and performed by other researchers before to strengthen the statement that prejudice is indeed a huge problem in the society. The integration of interview procedures within the research process shall also be among the most helpful elements that shall be utilized by the researcher of this study so as to strengthen the validation of the informations presented herein. II. Review of Literature At present, one of the most concerning and alarming sociological issues is the concept of prejudice between each individual or social group. Prejudice is basically similar to discrimination as this concept involves the adverse view and interactional relationship or treatment between the dominant and recessive societies. In an actual manifestation, prejudice can cause crimes and violence between the social groups and even result a sociological or political imposition of sanction against one particular society. The concept of prejudice is primarily caused by the differences in the society in one or more significant concern. For example, in the physical level, aesthetic physical value can either cause a positive or negative effect on the social view towards that individual. Other similar factors are the issues of ancestral background or race, social status, economic disposition, religious affiliation and others can also cause a similar scenario resulting to prejudice towards an individual or social groups. Differences in the personal or social views in these fields can cause conflict and discrimination in the society resulting to adverse views and social conception towards the other social group or person. Prejudice can either posts positive or negative impact on the society in general or in personal level. Considering the positive result. Adverse judgment or views can result to social barriers particular to a specific individual or social group, which can view as hindrances and challenging blocks in the course of success of the concerned party. In this scenario, by looking at the discrimination aspect as indeed a challenge, prejudism can promote rapid development and improvement particularly on the afflicted party as he or she of them struggle to overcome that adverse judgment. On the other hand, prejudism can also cause social dysfunctional and further segregation of the people mainly if it is practice in more personal level. Prejudism can cause further conflict and disparity as the people react negatively on the issue mainly if done in a closer proximity. Thus, the effect of prejudism is largely dependent on the personal views and social perspective of the people as they react and towards the said and how they struggle to overcome the adverse judgment towards them. III. Subjects for Interviewing For the proceedings of this study, there would be four individuals who would be the primary interviewees for the subject. Each of the said four belong to a certain race and are receiving oppressive reactions from the society that they are living with. (A) John is a 30-year old, white, a high school graduate, employed as a plumber who is married to a Mexican-American wife, and the father of two children† or (B) Sarah is a 22 year-old girls who is single, a college student, and an African American dating a white student from the same school. (C) Michael is a 25-year old guy who is working as a bellboy in a hotel, a young Filipino man who is currently married to a Latina and is residing at a small apartment in California. (D) Myrna is a 31-year old lady who was originally situated in China. She is currently married to an American man and a mother to a boy who is at the same time dating a white American. IV. Instrumentation The primary instrumentation utilized for this study are the researches that had been presented beforehand by other enthusiasts of the issue. Through reviewing the literatures that were primarily utilized to come up with the major claims in this study, the presentation of the matter is rather strengthened and performed with clarity. Later on, the integration of the interview results further strengthens the approach of the study in terms of actuality and life-accuracy of the claims and information presented herein. V. Findings: Summary of the Literature From the literature reviewed, it could be noted that prejudice is indeed a social ‘cancer’ that needs ample attention and regulation so as to normalize the situation that most minors experience from dealing with the natives of the land that they are living in. Most likely, the literatures that were reviewed herein make the informations of the study more reliable and clarified for better reader-understanding purposes. VI. Findings: Summary of Interviews The interviews performed by the researcher in this paper further clarifies the issue in an actualized view that naturally increases the knowledge of the readers based on life-based experiences that were related by the interviewees themselves. The impact of the said matter to them implies the real score of the situation in an actual measure of the social issue being dealt with. VII. â€Å"Prejudice Checklist† †¢ Education †¢ Racial Affiliation †¢ Religion and beliefs †¢ Economical Diversity †¢ Age and Gender VIII. Youth Program to Overcome Prejudice During the meetings, the area where it would be held is expected to have at least 15 seats to hold the exact number of the members of the group. Furthermore, bulletin boards and discussion boards should also be present to be able to present the progress of the program to the members of the entire group. (Marton, 1997, 32) The rules are simple; people who are to join the operations should be noted to have their attention focused upon the developments of the individuals that they are supporting. The inspiration that they are living their audience should be manifested through the acts of the young ones. Those who are handling the practical application of the program are supposed to keep track of the developments of the individuals and how they are directly affecting the lives of the people in their community.

My Vacation Essay Example for Free

My Vacation Essay There is one magical place where my family vacations to most summers. It is quiet, relaxing, beautiful, magnificent, and inspiring. Located in Saranac Lake, in rural New York, this is where my family has some of the best times. We stay in a calm and serene cabin where my Aunt and Uncle live. But I’m getting ahead of myself. Before I can explain what I do during this vacation, I must explain the background and history of this special family gathering. My family is not the type the goes on expensive or classy vacations to the Caribbean. We prefer memorable vacations, whether it is in Florida, Colorado, Cape Cod, or Saranac Lake. The places we go do not matter, but more the events that take place during them. Once my mom’s side of the family had grown, and all my grandparents, aunts, and uncles, had their children, everyone decided it would be fun to have a family reunion of some sort. My Aunt’s cabin sounded like a fun place to meet every summer- and that’s where we have met ever since. Now lots of the kids have grown up, and even though they are older they still enjoy some of the things we did when we first came. Some activities include hiking, swimming, fishing, canoeing, and boating on the lake. Also, playing board games and watching movies when it’s rainy, having cookies down on the dock, or playing a good game of hide and seek in the woods. Vacations to the lake are like an escape from the outside world, and a chance to see nature and still have fun. Every summer is guaranteed to be a blast, in rain or shine. To conclude, my vacations to the lake will always remain memorable and special. I hope that one day I will be able to continue the tradition for my family. Through the years, I have always been sort of jealous of my friends who told about their extravagant vacations to paradise, but I have soon realized that I would never trade my experiences for any of theirs. Why? Because I have something that they will never have. I have a family that loves and cares for each other, and would do anything to make everyone happy. I have a lifetimes worth of memories from only a few days. Finally, I have joy.

The History Of The Hypermarket Industry Marketing Essay

The History Of The Hypermarket Industry Marketing Essay In the chapter 1, we will giving an overview of our research topics and also will study the background of the research topic. Besides, this chapter will also explain about the research problems and outline the research objectives that are need to be achieved by us, research question to be answered, hypotheses to be tested and lastly the significance of the study. Research Background Scholars have attempted to build a better definition of impulse buying for over fifty years (Karbasivar Yarahmadi, 2011). Moreover, Lim, Badarulzama, and Ahmad (2003) also claimed that the retail trend in Malaysia keep increasing over years. In other words, retailers such as supermarkets and hypermarkets will substantially increasing in the future and the competition between these retailers will keep rising continuously. In addition of retail trend, there is potential growing trend in impulse purchasing as well (Bayley Nancarrow, 1998). During the research on the topic of impulse buying behaviour, researcher has identified several of essential information. Firstly, Hausman (2000) summarise the previous studies finding and stated that there are almost 90 percent of people making occasionally impulse purchases and 30 percent and 50 percent of all purchases were classified by the buyers themselves as impulse purchases. Besides, Rook and Fishers (1995) also pointed that consumers try to manage their innate impulsive tendencies as they feel that impulse buying as immature or lacking of behavioural control and it is normatively wrong. Yet consumers still insist on purchase product impulsive from retailers especially hypermarket. For these reasons, marketers have the tendency to increase knowledge and understand of the process, of influential factors and of effects of impulse buying (Hair, Bush Ortinau, 2003). Impulsive buying behaviour of consumers often occurred in hypermarket as hypermarket consists of one-stop and all-under-one-roof features (PricewaterhouseCoopers [PwC], 2005). In other words, shoppers who shop in hypermarket will make their purchase on all desired products at once and at the same, they able to enjoy the entertainment facilities provided under the same roof such as bowling alleys, cinema, and snooker centre. In addition, the citizens in Malaysia are becoming wealthier and making them afford to purchase plenty of products including luxury products. In addition, the citizens in Malaysia are becoming wealthier and making them afford to purchase plenty of products including luxury products. Wong (2010) also claimed that the price war among retailers including hypermarkets, supermarkets and small-scale retailers to compete to be low cost leader, resulting the Malaysian to purchase unnecessary product impulsively. 1.1.1 Hypermarket Industry Hypermarket started entering Malaysia in the early 1990s (Lim et al., 2003). Hypermarket is a superstore that merges both supermarket and department store to become a very huge retail facility which carries a tremendous variety of products under one roof, as well as full lines of groceries and general merchandise (Matamalas Ramos, 2009). Most of the hypermarkets are foreign retailers such as Giant, Carrefour, Tesco and so forth while for famous Malaysian-owned hypermarket is MYDIN hypermarket. Due to the significant growth in retail of Malaysia for the past few years and the expansion of foreign brand retailers by entering into our country, it helps to provide consumers with more choice in selection of brands and styles (Wel, Hussin Omar, 2011). Through shopping in hypermarket retailing, consumers will benefit in terms of lower prices, good quality and reliable supply of plenty of variety and assortments of goods including after sales services (Mohd Noor, Mamat Darawi, 2009). Retailers have long discovered the influence power of impulse buying, which is indeed a focal point in many purchasing activities (Mattila Wirtz, 2008). Hypermarket retailers will also value this opportunity as impulse buying will bring substantial amount of profit for them. Furthermore, some grocery retailers especially hypermarkets are starting to compete with purely non-grocery retailers such as home appliances as consumers demanding for more choices (Mohd Noor et al., 2009). The reason that hypermarket retailers took this action is to capture more sales profit from the consumers. 1.1.2 Students Purchasing Power The purchasing power of students must not be underestimated as they could generate a portion of sales for the hypermarket retailers. Besides, there is a new trend emerged from retailers such as supermarket, hypermarket, and shopping mall to build their shop near the higher education institution such as college and university as they have found the importance of students as key segments for their business (Ahmed, Ghingold Dahari, 2007). Basically, it is known that the students resources are mainly come from their parents and the student loan from government or private institutions. Danes, Huddleston-Casas and Boyce (1999) pointed that college students had many resources to spend and tended to be purchase impulsively. While Sabri and MacDonald (2010) revealed that college and university students in Malaysia would like to shop and purchase non-academic goods aggressively once they receive their student loans. Their study also shows there are about 45 percent of students in Malaysia spe nt all their loans before the end of semester (Sabri MacDonald, 2010). Moreover, some high education institutions in Malaysia have introducing their students to visit hypermarket near the students hostel and institution as the price offered by hypermarket will be cheaper than any small specialty shops, leading these students to make purchase in hypermarket (Berjaya University College of Hospitality, 2013; MONASH University, 2013). Apart from that, researches had shown that the students who visit hypermarket possesses greater proportion to purchase impulsively compare to other segments (Lim et al., 2011; ET Bureau, 2012). In addition, the continuous expansion of education services in Malaysia has made students as an important consumer market segment (Economic Planning Unit, 2006). There are two reasons why they will become an important consumer market segment. The first reason is the students purchasing power in Malaysia has growing, due to the availability of student loans; second, among all the market segments of population, student segment is the segment that has great potential earnings in future (Sabri, MacDonald, Masud, Paim, Hira Othman, 2008). Problem Statement Retailers have long discovered the influence power of impulse buying, which is indeed an essential point in many purchasing activities (Mattila Wirtz, 2008). As the result, it produce intensive competition among the retailers such as supermarkets, hypermarkets, discount stores, convenience stores and even the small-scale retailers in the form of shop houses. The fierce competition among retailers especially supermarkets and hypermarkets required them to figure out any approaches to attract consumers and lead them to make impulsive purchase as consumer impulse buying is one of the greatest ways for retailers to generate high profitability. Specifically for students, as there are previous studies shown that students cover high percentage of sales from impulse purchasing (Lim et al., 2011; ET Bureau, 2012). Although there are consumers including student who always revisit their favourite retail stores and tend to be loyal to a particular store but some consumers are often to be cherry pickers (Wel et al., 2011). In other words, they are not usually loyal to one store, while on the contrary, they will easily switch to other retail stores in order to bargain for the best price before they purchase any of the products. Therefore, in order to survive in the current marketplace, retailers must find out the ways to attract and retain significant share of consumer impulse purchases (Dlamini, 2006). As the result, as to achieve competitive advantage and stand out in marketplace, it is crucial to examine the effect of impulse purchases and highlighting factors that will direct and indirectly affect consumer impulse buying behaviour towards retail setting industry such as hypermarket. Hausman (2000) stated that impulse buying is an enigma within marketing world as it is considered wrong by the literature and consumers, yet it still account for a large amount of sales for retail industry every year. In addition, information about impulse buying and its numerous influential variables is still considered less (Abdolvand, Hanzaee, Rahnama Khoshpanjeh, 2011). Hence, scholars and researchers should participate further in this challenging topic. Although researches might face plenty of complicatedness during the process of investigating and examine, this topic has generated substantial amount of research interest for over thirty years (Beatty Ferrell, 1998). The topic of impulse purchases has received substantial research interest in marketing literature (Beatty Ferrell, 1998; Rook Fisher, 1995; Hadjali, Salimi Ardestani, 2012). However, research on impulse buying is often focused on consumers in the United States, yet fewer researches are done in non-western country such as Malaysia (Kacen Lee, 2002). Therefore, this study is to gain better understanding of how in-store environment, positive emotions and social norms influence consumer impulse buying behaviour in Malaysia. This study will investigate whether in-store environment, positive emotions and social norms have the power to influence consumer impulse buying behaviour in Malaysia corresponds to the western countries. Research objective According to the problem statement mentioned above, the researches of the topic of impulse buying behaviour is still ambiguous and it is requires for scholars or researchers to implement more researches in order to remove the ambiguous and acquire more accurate information of impulse buying behaviour. Apart from that, due to the tense competition among the hypermarket in Malaysia, hypermarket owners must clearly identified the important elements or factors that will truly influence the consumers to make purchase impulsively in their respective hypermarkets. 1.3.1 General objective This research is concentrated on underlying factors that influencing impulse buying behaviour. Besides, this research also studies on analyzing the relationship between the factors and impulse buying behaviour. Specific Objective To examine the relationship between in-store environment and impulse buying behaviour in hypermarket. To examine the relationship between positive emotion and impulse buying behaviour in hypermarket. To examine the relationship between social norms and impulse buying behaviour in hypermarket. Research Question Does in-store environment positively influence impulse buying behaviour in hypermarket? Does positive emotion positively influence impulse buying behaviour in hypermarket? Do social norms positively influence impulse buying behaviour in hypermarket? 1.5 Hypothesis of the study Findings from previous research together with the objectives of the study lead toward the development of the following hypotheses: There is a relationship between in-store environment and impulse buying behaviour in hypermarket. There is a relationship between positive emotion and impulse buying behaviour in hypermarket. There is a relationship between social norms and impulse buying behaviour in hypermarket. 1.6 Significance of the Study This research is determining whether impulse buying behaviour of college and university students has significant influence on stores sales and profit, and most of the stores and hypermarket had started implemented the impulse buying strategy. Due to this reason, our research is to study what are the critical factors that trigger the customer impulsive buying behaviour. This research is relatively important to all retailers especially hypermarket owners. By going through this research study, retailers are able to understand the critical factors that will greatly affect their store sales. For example, the enhanced store design or store environment that is varies from the conventional store design which is believed that it is unique by comparing to other stores, thereby it will play as a role of catching the attention of the pass by customers. Therefore, it can increase or trigger the tendency of impulse buying behaviour of the customers. 1.7 Chapter layout 1.7.1 Chapter 1: Introduction This chapter will provide an overview of the study which includes the background of studies, problem statement, general and specific objectives, research questions, hypothesis, and significance of the study, chapter layout and conclusion that explaining the purpose of the research. 1.7.2 Chapter 2: Literature Review This chapter shows the literature review that includes a full relevant of the relevant research work for the research topic. It describes the relationships for every independent and dependent variables. The research study reviews the relevant theoretical models, and then proposes the theoretical framework and hypotheses development. 1.7.3 Chapter 3: Research Methodology This chapter describes how the research study is carried out and gathers the data, by using the appropriate research design, data collection methods, sampling design, research instrument, construct measurement data processing and method of data analysis. 1.7.4 Chapter 4: Research Result This chapter presents the patterns of the results and analyses of the results which are relevant to the research questions and hypotheses by using SPSS analysis. 1.7.5 Chapter 5: Discussion and Conclusion In this chapter, the research study summarizes the research findings which are included statistical analyses, discussions of major findings, implications of study, limitations of the study and recommendations for future research. 1.8 Conclusion This chapter will provide an overview of the research study. The background, problem statement of this study, research objective and questions has been identified. Hypotheses of this study have been formed and it will be used to focus on factors that influence impulse buying behaviour in hypermarket. A further review of the previous relevant studies and researches will be conducted in the next chapter.

Distinguishing the Difference in News Coverage among International and

Distinguishing the Difference in News Coverage among International and Domestic Images Not Included Identifying a Variance in News Coverage It became evident throughout our investigation that separating domestic news source sites from international news source sites would be beneficial in addressing our question of the variance in coverage among these news sources when identifying natural disasters throughout the world. With the objective of properly addressing this inquiry, we decided upon a proposition in order to accurately identify whether a difference in news source coverage truly exists. Therefore, we propose that world reports provide more specifications about international involvement in natural disasters rather than reports from the United States alone. This as a result insinuates that U.S. reports will have present information about U.S. aid and involvement. In turn, to properly address this proposal, we have further dissected the topic of discussion into five segments that will equally address the above mentioned proposal and discuss how the global culture manifests as it comes into being. Consequently, the di scussion of domestic rebuilding; foreign aid; poverty stricken areas; displaced families and populations; and, environmental cause and effect will be the five subtopics identifying the variance among news sources in alignment with our proposal. Before diverging into subtopics regarding natural disasters, it will be important to discuss more technical aspects of the research in order to visualize the research we were presented with. First, a total of 26 stories were tagged throughout the two month span for our group to further research. Once tagging articles was completed, it became clear that there were not ... ...h 2007 . â€Å"Queensland to Drink Waste Water.† BBC UK 29 January 2007. 29 January 2007 . â€Å"Rains Worsen Indonesia’s Flooding.† CNN World 09 February 2007. 09 February 2007 . â€Å"Rescue Efforts Intensify After Quake.† CNN 07 March 2007. 07 March 2007 . â€Å"Rescue Efforts Intensify After Quake.† CNN World 07 March 2007. 07 March 2007 . â€Å"Thousands Ill, as Jakarta Cleans up After Flood† CNN 12 February 2007. 12 February 2007 .

Essay --

Introduction It all starts when I was watching the ad on TV for the car I always dreamed of, a BMW 528 x drive. The offer was so attractive given that the monthly payments shown were actually within my budget. Though the ad mentioned leasing not selling, therefor I need to know: what is car leasing? How the process works? How it is different than buying? Should I lease or buy my next car? How should I prepare for the lease? What is the deal I am looking for? How to negotiate a good deal? What are the after deal obligations? What are my lease end term options? And what happen if I decided to end the contract before the end of the lease term? As in any other negotiation, I should take enough time to prepare properly before making any decisions that I might regret in the future. What is car leasing? Leasing is paying for the use of a car over a specified period of time, in other words it is a term of financing a car. In leasing a car, it is important to note that the total price of the car is important (even if I am only responsible for part of it) and it can be negotiated with the dealership; the owner of the car is the leasing company not the dealership, the dealership acts as an agent for the leasing company and when the deal is generated I will be dealing directly with the leasing company; I agree to make regular monthly payments for the specified period, maintain the car, pay the car insurance, local taxes and tags fees, and I am expected to stick with the mileage indicated to the end of the lease term. I will be hold accountable for any damages or extra mileage above the specified limits. Also, in a lease the monthly payments are upfront, not like when you buy the car where you pay at the end of the month. This means that i... ...the above and make sure that I will be having a good deal. I will be reminded a month a head of the lease term on the date of returning the car and if I am exploring other options I need to decide within that period. It is not a coincidence to note that â€Å"forced arbitration clauses are included in nearly all car sale contracts and leases. Franchise laws in all 50 states give automobile dealers a special monopoly over new car sales, allowing them power to decide what they want to include in their sale/lease contracts. Consequently, consumers purchasing or leasing a new vehicle are a captive audience with no choice but to enter into the sales/lease contract put before them parties when they cannot be resolved on their own to Arbitration†.( retrieved from http://www.fairarbitrationnow.org) (Please see exhibit 3: Sample of Vehicle Purchase/Finance Arbitration Agreement)

Old and Young Frankenstein Essay -- Frankenstein essays

Old and Young Frankenstein      Ã‚   Something that interested me greatly about Mary Shelley's Frankenstein was the treatment that the creature received from Frankenstein and the other people around him. I often wonder how things would have turned out had he been treated with a little bit of humanism and compassion, especially by his creator. What if Frankenstein had taken the responsibility as the creature's parent and created him with a little humanism and kindness? Would the creature have vowed such revenge and killed everyone Victor cared about? I'm going to use the film Young Frankenstein from 1974 to show what happened when the creature, created this time by Victor's grandson, Frederick, received better treatment. Although the film is meant as a parody of all the films based on the novel, underlying this humor are more serious points, one of which is the concern with the way the creature is considered.    The first step is to make a comparison between the film and the novel, and to look at the 1931 film version, since the humor in Young Frankenstein seems to be greatly parodying that film. The Frankenstein in this film version is Frederick, the grandson of Victor, who is a lecturer on neurosurgeons in New York. He receives news of his grandfather's will, and he goes off to Transylvania to claim his ancestral estate, there finding the plans of his grandfather's for the construction of a creature. The plot is very loosely based on Shelley's Frankenstein as a model, but it's continued into the twentieth century with a different generation. Of course, when looking at the novel, it seems quite impossible that Victor could possibly have had a ... ...ral times, at the risk of his own life, as most parent would do for their children. Victor from Shelley's novel never even considered the creature a fellow being and showed no responsibility whatsoever to the creature. This creature felt unloved by his father, and plotted revenge on Victor, taking his family away, a family the creature could never experience. This comparison shows how if Victor had once considered the feelings of the creature, everything could have turned out so much differently.    Works Cited Alpert, Hollis. "Comedy: The New King." Saturday Review World 2 Nov. 1974: 52- 3. "Blazing Brooks." Show Business and TV. Time 13 Jan. 1975: 56. Shelley, Mary. Frankenstein. New York: Bedford Books of St. Martin's Press, 1992. Young Frankenstein. Dir. Mel Brooks. 20th Century Fox Film Corporation, 1974      

Overall Banking of Bank Asia Limited

[pic] PART A INTRODUCTION OF THE REPORT [pic] [pic]1: Introduction [pic] 1. BACK GROUND OF THE STUDY [pic] Bank is a financial institution whose main aim is to earn profit through exchange of money and credit instruments. A banking company must perform both of the essential function accepting of deposits and lending or investing the same. If the purpose of acceptance of deposits is not to lend or invest, the business will not be called banking business. It may be said that banking in its most simple form, is as old as authentic history. As early as 2000 B. C. Bany Lonians has developed a system of banks.In ancient Greece and Rome the practice of granting credit was widely prevalent. According to some authorities the word â€Å"Bank† is derived from the words banco, bancus, banque or bance. All of these words mean a bench upon which the mediaeval European bankers used to sit with their coins to transact banking business. When a banker failed to meet his obligations, the angry p eople used to break up his â€Å"banco†. The account for origin of the word â€Å"Bankrupt† which means bank failure but whatever be the origin of the bank, the word came to be used in Europe from the middle age in connection with the business of bank.Money also links the history of banking. It created a logical necessity of banks. However, the birth of present day banking is not sudden. It has come to its present stage through a process of development. During the last decade, banking became the most competitive industries of Bangladesh with a huge amount of growth. A large number of new banks have made their way in the industry and yet there are more to come. In such a highly competitive service industry, ‘customer satisfaction’ is a very important factor to consider. High customer atisfaction and loyalty give an organization a better base than its competitors and allows it to flourish in the industry. 2. OBJECTIVE OF THE STUDY [pic] General Objective The general objective of preparing this report is to fulfill the requirement of project work as well as completion the BBA Program through gaining the experience and view the application of theoretical knowledge in the real life. Also find out the Operational Process of the Bank and it’s overall Performance. Project Objective The objectives of this report are the followings: Get introduced with the idea of â€Å"Customer Service Quality† in Bank Asia Ltd. ? Introduce with the Bank service quality assessment tools ? Techniques to win a strong customer base ? To know the expectations of customers of Bank Asia Ltd. ? To analyze different activities of different desk. ? To analyze different rules and regulations of the Banking System. ? To analyze the procedures of making loan. ? To analyze how to provide better customer service. ? To analyze how bankers introduce their product to the clients and customers. To know how people communicate with clients, customers and head offic e about different purposes and how they use information system. ? To Know the position of Bank Asia Ltd in the Market ? To know the study’s and conditions of overall performance ? To make some recommendations and conclusion to further the development of Retail products of Bank Asia Ltd. 1. 3 Methodology of the study [pic] To make the report more meaningful and presentable, two sources of data and information were used widely. Both primary and secondary data sources were used to prepare this report.The nature of this report is descriptive with some survey or using sampling method. Most of the necessary information has been collected by a questionnaire, officers working in Retail Banking. 1. 4 DATA COLLECTION [pic] Both the primary and secondary forms of data are used to make the report more rich and informative. The details of these sources are gives below: Primary Sources Most of the information was acquired by discussing with the officers working in the Patherhat Branch of Bank Asia Ltd. Observation and work experience with different divisional in-charges and suggestions of many executives of the bank.Secondary Sources Annual Report of the Bank Asia Limited. Various books, articles, compilations etc. Websites of the Bank. Instruction circular of Head Office, brochures of different banks, newspapers and magazines regarding banking issues, seminar papers and so on. 1. 5 LIMITATIONS [pic] The report was not free from limitations. The study has been conducted on the subject of â€Å"Activities in Bank Asia Limited†. The Officers of Bank Asia have provided all the necessary information with his best abilities. Key limitations of the study are as follows: The internship is a very short period of time. During this short period it is very difficult to study about Bank Asia properly. ? The data and information collected from Bank Asia was not clearly related with the topic. ? The study was not successfully completed due lack of knowledge of banking profession. ? Some data and information was not provided by Bank Asia due to maintain secrecy. ? The data that are collected contained lots of information so it is very difficult to represent all information concisely. ? Bank is a very busy organization with comparison to others.There are rushes of people for about whole the day and the officers have to transact with them. So it is very much tough for Credit Officers to allocate time for me. [pic] PART B COMPANY PROFILE [pic] [pic]2: COMPANY PROFILE [pic] 2. 1 ABOUT BANK ASIA [pic] Bank Asia is one of the renowned and successful banks in Bangladesh established in 1999. The paid up capital of the Bank is 1116 million. With in very short time Bank Asia has established itself as one of the fast growing local private Bank. Now it has 66 branches in its network. It has own ATM service.It provides ATM service through other banks too. Mr. A. Rouf Chowdhury is the Chairman of Bank Asia. Bank Asia is operated by the experienced, qualified, professional management teams whom have exposure in the international market. In the year 2003 the Bank again came to the limelight with over subscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market’s history and its shares commands respectable premium. Bank Asia is maintaining it’s competitiveness by leveraging on its Online Banking Software and modern IT infrastructure.It the pioneer amongst the local Banks in introducing innovative products like SMS Banking and under the ATM Network the Stelar Online Banking Software enables directs linking of a client’s account, without the requirements for a separate account. Bank Asia has long experience in the financial sector of our country. By their programmatic decision and management directives in the operational activities, the Bank has earned a secured and distinctive position in the banking industry in term of performance, growth and excellent manage ment. 2. 2 CORPORATE INFORMATION[pic] ? Letter of intent received : 24/02/1999 First meeting of the Promoters held: 15/04/1999 ? Certificate of incorporation received: 28/09/1999 ? Certificate of commencement of Business : 28/09/1999 ? First meeting of the board of Directors held: 01/10/1999 ? Banking license received : 06/10/1999 ? First branch license received: 31/10/1999 ? Inauguration of Bank : 27/11/1999 ? Date of publication of Prospectus : 29/06/2003 ? Date of IPO Subscription : 23/09/2003, 24/09/2003 ? Date of first share trading in Bourse : 08/01/2004 ? Date of agreement with CDBL : 20/12/2005 ? Date of first scrip less trading : 30/01/2006 Numbers of Promoters: 22 ? Numbers of Directors: 11 ? Numbers of Branches : 66 ? Auditors : S. F. Ahmed &CO. Chartered Accountants House #25, Road # 13A, Block- D, Banani, Dhaka- 1213. ? Registered Office: Tea Board Building (1st floor) 111-113, Motijheel C/A, Dhaka – 1000, Bangladesh. 2. 3 MANAGEMENT HIERARCHY OF BANK ASIA LIMIT ED [pic] 2. 4 MISSION STATEMENT OF BANK ASIA [pic] To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy.To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. To become the most sought after bank in the country, rendering technology driven innovative services by our dedicated team of professionals. 2. 5 VISION OF BANK ASIA [pic] Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. 2. 6 COMMITMENT & CULTURE OF BANK ASIA LTD. pic] 2. 6. 1 Social Commitment: Though the purpose of Bank Asia is obviously earning profit, but the promoters and equity holders are aware of their commitment to the society to which they belong. 2. 6. 2 Corpor ate Mission: †¢ To provide high quality financial services in export and import trade. †¢ To provide excellent quality customer service. †¢ To maintain corporate and business ethics. †¢ To become a trusted responsibility of customer’s money and their financial advisor. †¢ To make their stock superior and rewarding to the customers/ share holders. †¢ To display team sprit and professionalism. To have a sound capital base. 2. 6. 3 Corporate Culture: Bank Asia is one of the most disciplined banks with a distinctive corporate culture. Here we believe in shared meaning, shared understanding and shared sense making. Our people can see and understand events, activities, objectives, objects and situation in a distinctive way. They mould their manners and etiquette, character individually to suite the purpose of the bank and the needs of the customers who are of paramount to us. The people in the bank see themselves as a tight knit team/ family that belie ve in working together for growth.The corporate culture we belong has not been imposed; it has rather been achieved through our corporate culture conduct. [pic]3: TECHNOLOGY AND INNOVATION [pic] 3. 1 DELIVERY CHANNEL [pic] Focusing of the need for increasing customer’s service delivery point Bank Asia has been continuously adding new items. Their delivery channels now include 32 branches one booth, ATMs, internet banking, POS machine of Dutch Bangla Bank Ltd. and mobile banking. 3. 2 BRANCH NETWORK [pic] Bank Asia intends to achieve to attain balanced growth and expansion of its branch network.Aiming to extend their service and to increase their reach rapidly to their growing and valuable clients. Bank Asia always looking for opportunities for adding more branches to their growing network. 3. 3 ATM [pic] Bank Asia’s ATM Service has been well embraced by the clients since it provides them most flexibility in handling cash money and ensures uninterrupted banking faciliti es round the clock. In the face of growing demand they arranged for addition of new ATMs and set up 10 additional machines during the year 2007.Now they have ATMs of their own also they have under share arrangements 93 ATM E-cash booths and 226 ATMs of Dutch Bangla Bank Ltd. 3. 4 INTERNET BANKING [pic] Internet banking facilities change their business process, since many customers fell comfortable to execute transaction through internet. The transaction through internet has grown very fast in the recent year. Their internet banking further improved in 2007 and their customer can change their profile, stop payment of issued cheques, see the status of cheques, request a cheque book etc. n addition to existing facilities like fund transfer, balance and transaction enquiry etc. 3. 5 CREDIT CARD FACILITIES [pic] Bank Asia now provides credit card to its customers and clients. Through this card a client can draw money from any bank. [pic] PART C GENERAL BANKING(AN OVERVIEW) [pic]4: GENERA L BANKING (AN OVERVIEW) [pic] 4. 1 Banking Service of Bank Asia Ltd. [pic] Banking Services General Banking Credit/Advance Foreign Exchange CashCash Credit (HYPO)Import AccountsCash Credit (PLEDGE)Export RemittanceCash Credit SchemeRemittance Clearing House Lease FinancingCustomer Service Saving Overdraft 4. 2 CUSTOMER SERVICE[pic] Accepting Deposit: There are three kinds of deposits in Bank Asia those are as follows: a) Demand Deposit. b) Time Deposit. c) Scheme Deposit. a) Demand Deposit: The deposit from which depositors can withdraw money without any notice is demand deposit. These demand deposit also three categories those are as follows: 1) Current deposit (CD Account). 2) Saving Deposit (Saving Account). 3) Short Term Deposit (STD Account). b) Time Deposit: This deposit is called FDR (Fixed Deposit Regular).The amount in this account is payable only after time stipulated. There are three types of time deposits those are as follows: FDR # One Month 10% # Three Month 12. 5% # S ix Month 12. 5% # One Year 12. 5% # BASP 14% C) Scheme Deposits: With the growth of the middle classes and classes of people having a monthly and regular source of income, from which people deposit a specific amount in the Bank at a regular interval of time, is called Scheme Deposit. The following accounts are under Scheme Deposit A/C: 1. Deposit pension Scheme (DPS),2. Monthly Saving Scheme (MSS), 3.Monthly Income Scheme (MIS), 4. Super Saving Scheme (SSS),5. Multi plus Saving Scheme (MPSS). 4. 2. 1 ACCOUNTS OPENING PROCEDURE [pic] To open a new account an applicant has to maintain number of formalities. Bank’s officer also is careful whether necessary documents are provided by the new account opener. To open a new account following formalities have to be maintained: ? An introducer who introduces new account holder to the bank. ? Two copies of passport size recent photograph attested by the introducer. ? Account opening form duly filled. ? Signature card duly signed. One co py of photograph of nominee. ? After fulfilling the above formalities, Bank provides to the customer a deposit slip book and a cheque book which is marked by his new account number. ? If it is joint account each and every person has to provide their details and signed into the account opening form. ? Letter of thanks to the account holder and introducer For Partnership firm: If it is a Partnership firm there is some additional formalities have to be maintained, those are as follows: ? Partner’s signature ? Partner’s name and address. ? The nature of the firm’s business Two copies of photograph for each and every partner, duly attest by the introducer. ? Account must be introduced properly. ? Introducer’s signature on account opening form has to verify by an officer under full signature. ? Certified true copy of the memorandum of the firm. ? Registered partner ship deed. ? In case of joint account, operational instructions are to be signed by the joint acc ount holders. For proprietorship business: ? Declaration of proprietorship ? Photocopy of Business trade license. ? Account agreement form. ? Photocopy of TIN certificate. For Limited Company: Certified true copy of Memorandum & Articles of Association of the company. ? Latest audited balance sheet of the company. ? Latest copy of company’s income statement. ? Certificate copy of incorporation of the company for inspection and returned with a duly certified photocopy for bank’s record. ? Certificate from the registered of the joint stock companies that the company is entitled to commence business (in case of public limited co. for inspection and return) along with a duly certified photocopy for bank’s record. ? Name and address of the board of directors. ? Authorized signature. Extra resolution of the board, general meeting of the company for opening the account and authorization for its operation duly certified by the Chairman/ Managing Directors of the company . ? Full name of the company and full address of head office. General condition for opening current and saving account: ? At least Tk. 2,000/- for current account and Tk. 1,000/- for saving account has to deposit while account is going to open. 4. 2. 2 ISSUE OF DUPLICATE CHEQUE BOOK [pic] When an account holder loss his cheque book he has to inform it to the bank. Then bank stop any amount from that account.Account holder has to apply to the bank through application to new cheque book. Then fresh cheque book is issued instead of lost one after verification of the signature of the account holder from the specimen signature card and on realization of required exercise duly only with prior approval of manager of the branch. Cheque of the new cheque book is recorded in the ledger card and signature card ass usual. Series number of lost book is recorded in the stop payment register and caution should be exercised to guard against fraudulent payment. 4. 2. 3 CLOSING OF AN ACCOUNT [pic]The re are some reasons for which account may be closed those are as follows: ? If the customer is desirous to close the account. ? If the bank finds that the account is inoperative for a long duration. ? If garnishee order is issued by the court of Bank Asia. ? To prevent money laundering some times Bangladesh Bank order to the bank to close the account of the black money holder. To close the account, the cheque has to be returned to the bank. Bank Asia takes all the charges by debiting the account and remaining balance is then paid to the customer. Necessary entries are given to the account closing register and computer. . 2. 4 ISSUING OF PAY ORDER [pic] A pay order is an instrument from one branch to another branch of the same bank to pay a certain sum of money to the person there on or to his order. Unlike the cheque, there is no possibility of dishonoring pay order because before issuing PO, bank takes the money of the pay order in advance. The pay order purchaser has to apply in a prescribed form with a credit voucher for the amount of pay order and other credit vouchers for commission and VAT. 4. 2. 5 TELEGRAPHIC TRANSFERS (TT) [pic] TT is the quickest method of transferring funds from one place to another.The remitting branch sends a telegraphic/ telephone message to the other end, to pay a certain sum of money to a named payee. Such a message is usually sent in code language. Prefixing or suffixing a check cipher authenticates the message. A check cipher for a remittance is worked out on a test key table, access to which is allowed only by authorized officers. The codebook is always kept in the custody of authorized officers. All T. T. are following by written confirmations under the signature of authorized officer of the remitting branch. The receiving branch, after thoroughly checking the telegraphic message, acts on it. . 2. 6 ISSUING CERTIFICATE [pic] Bank Asia provides different certificates to its clients and customers. It provides Bank Certificate to its clients for opening BO account and deduct Tk. 200/- as service charge. Bank Asia provides solvency certificate too to prove that their client is financially solvent. This solvency certificate is needed if client is willing to go to abroad or opening new business. 4. 3 ACCOUNTS DEPERTMENT [pic] Following things are done by the Accounts Department: ? Pass outward instrument to the clearing house. ? Pass inward instrument to respective department. Return instrument in case of dishonor. ? Prepare OBC and IBC for the respective branch and head office. ? Verify daily’s cash expenses and issuing cash voucher sleep for different necessary daily expenses. ? Issuing credit voucher for remittance coming from abroad. ? Receiving clearing cheque from teller department and bank wise separate the cheques and send those to the clearing house. ? Recording of return cheque from different banks and back to return it to the clients. ? Prepare OBC request letter to head office for collecti ng fund out side of the city. The following entries are given if the cheque is honored.Customer A/C Debit Bank Asia general A/CCredit Bank Asia Principle Branch clears its cheque through the head office as well as the cheque of other branches, because it is only permitted. The other branches send the instrument through IBCA. Bank Asia principle branch act as an agent in this case. For this the concern branch gives the following entries: Bank general A/C Debit Customer’s A/C Credit If the instrument is dishonored, the instrument is returned to the concerned branch through IBCA along with the following entries: Incase of return for inward instrument. Bank general A/CDebit Customer’s A/CCreditIncase of return for outward instrument: Customer A/C Debit Bank general A/CCredit Incase of returning an instrument the respective officer usually looks for following reasons: ? Insufficient fund ? Drawer’s signature differs. ? Amount in word and figure differ ? Refer to draw er ? Stop payment ? Not arrange for ? Effect not cleared may be presented again. Receiving cheque for collection: In Bank Asia, cheques of its customers are received for collection from other banks. In case of receiving cheque, following points should be checked. ? The cheque should not carry a date older than the receiving date for more than 6 months.In that case it will be a ‘stale cheque’ and it will nit be allowed for collection. Again the date of the cheque should not be more than one day forward than the receiving date. ? The amount in figures and words in both sides of the pay-in-slip should be same with the amount mentioned in the figure and word in the cheque. ? The name mentioned in the cheque should be same in both side in pay-in-slip and it should be the same with the name mentioned in the cheque. ? The cheque must be crossed. 4. 4 CREDIT DEPERTMENT [pic] Consumer Credit is a part of Credit Department which involves in generating loan to the client.Bank Asia Station Road Branch provides four categories of loans those are as follows: 1. Consumer Durable Loan. 2. Auto Loan. 3. House Finance. 4. Unsecured Personal Loans. 4. 4. 1 HOUSE FINANCE [pic] Regulations for House Finance Loan: ? House Finance Loan is provided for the long period of time (Maximum 15 years including 1 year grace period). ? Loan to price ratio: The loan to price ratio is 80%. It means bank finance 80% amount of required amount. Bank provide loan for the construction which is already completed up to ground floor. ? Rate of interest of house finance loan of Bank Asia is 16%. ? Loan size: Loan Size is Tk. 3, 00,000. 0 to Tk. 50, 00,000. 00. ? Maximum Exposure (Bank Equity) 20%. ? Age of the applicant must be between 25-65 Years. ? DBR: DBR (Debt Ratio) have to 40%. ? Processing Fee: 0. 5% or 5000/- whichever is higher. 4. 4. 2 CLOSING OF AN ACCOUNT [pic] Regulation for Auto Loan: ? Auto Loan is provided for purchasing new vehicle. ? Loan to price ratio: If it is recondit ion car bank will finance 80% of the total price and if it is new vehicle bank will finance 90% of the total price. ? Rate of interest of Auto Loan is 16%. ? Loan size: Loan Size is maximum Tk. 20, 00, 000. 00. ? Maximum Exposure (Bank Equity) 20%. ? DBR: DBR (Debt Ratio) have to 40%. Tenor: Auto Loan provided for 60 months (for recondition vehicle), and for 72 months (new vehicle). ? Processing Fee: 1% or 5000/- whichever is higher. ? Age of the applicant must be between 25-65 Years. An application is provided to BRTA as if the vehicle is registered at the name of Bank Asia & the applicant. 4. 4. 3 CONSUME DUALE LONE [pic] Consumer Durable Loan provided to business man as financial assistant. There are some rules and regulations for consumer durable loan those are as follows: ? Loan size: Loan Size is Tk. 50, 000. 00 to Tk. 5, 00,000. 00. ? Rate of interest of Consumer Durable Loan is 17%. Maximum Exposure (Bank Equity) 40%. ? DBR: DBR (Debt Ratio) have to 33%. ? Tenor: Auto Loan p rovided for minimum 6 months or maximum 48 months. ? Processing Fee: 1% or 1000/- whichever is higher. ? Age of the applicant must be between 25-57 Years. ? Loan to price ratio 70%. 4. 4. 4 UNSECURED PERSONAL LONE [pic] Unsecured Personal Loans for service holders, business man will not apply for this type of loan. There are some rules and regulations for Unsecured Personal Loans those are as follows: ? Loan size: Loan Size is Tk. 25, 000. 00 to Tk. 5, 00,000. 00. ? Rate of interest of Consumer Durable Loan is 17%. Maximum Exposure (Bank Equity) 20%. ? DBR: DBR (Debt Ratio) have to 33%. ? Tenor: Auto Loan provided for minimum 12 months or maximum 48 months. ? Processing Fee: 1% or 1000/- whichever is higher. ? Age of the applicant must be between 25-57 Years. ? Loan to price ratio: Not applicable. 4. 4. 5 NECESSARY DOCUMENTS FOR A LOAN PROSESSING [pic] ? Latest license copy provided by the city corporation (Trade License). ? TIN Certificate. ? Nationality certificate/ Passport. ? In come statement (Last 6 months). ? Statement of purpose of loan. ? Reference. ? Guarantor’s information and his/her photograph. Utility bill (telephone bill, electric bill etc). ? Necessary information of existing assets and liability. ? Bank transaction last six months. ? Sources of funds from which borrower can repay the loan. ? Received security advance cheque against loan amount which is properly signed by the borrower. ? Joint necessary stump with the loan application book. Stamp charge may receive on cash or adjust from the account of the applicant. 4. 4. 6 GENERAL POLICY GUIDELINE [pic] ? Bank Asia make loan to the reputed clients. ? Encourage lending to socially desirable, nationally important and financially variable sector. Satisfactory security and collateral is required including source of repayment both primary and secondary source. ? Bank Asia may consider terms loan with maturity up to five years. ? Bank Asia extent credit facilities to the area, which the branc h located and size and ability of its stuff to supervise and monitor the same also considered. ? Maximum size of the loan port folio. ? The banking corporation act 1991 restricts lending to any single obligor or a group of companies up to 15% of the capital funds of bank without having approval of Bangladesh Bank.With the Bangladesh Bank the maximum limit can go up to 100% of the capital of the bank. 4. 4. 6 CIB REPORT [pic] Bangladesh Bank established Credit Information Bureau (CIB) with a view to provide information of the borrower to the schedule banks as per requirement. It is one of our credit policies that the bank wilts not sanction/ disburses any loan facility to a defaulter. Therefore to process a loan CIB report is mandatory one. So by CIB inquiry we can get the report on our clients from Bangladesh Bank. As per credit policy a Loan outstanding of Tk 50,000. 0 and above must be reported to Bangladesh bank Inputs the information of all the borrower status in CIB report whet her he is defaulter or not. So the purpose of CIB is to get the borrower(s) credit information with a view to sanction a loan. This is very important because without having CIB a loan cannot be sanctioned. It is also a tool for discourage loan defaulter in our country. CIB functions can be divided into two classes: CIB Inquiry. CIB Reporting. CIB INQUIRY: The following forms are required for CIB Inquiry: 01. Letter of Undertaking (Annexure – Ka) to be obtained from the individual client. 02. Inquiry Form: CIB – 1AIt covers the information of the debtors / individual borrower or company. Name ET address is mentioned here. It is to be filled up by the bank in Capital letter/ type. 03. Inquiry Form: CIB – 2A For institutional client this is necessary. It covers the information of the owners of the concerned borrowing company/firm. In case of individual client this form is not necessary. 04. Inquiry Form: CIB – 3A This form covers the information of group rel ated business concern of the borrower and any of its owners. Special Note: The name of the borrower / owners should be mentioned in full and must not be abbreviated.CIB REPORTING: The followings forms are required to report to Bangladesh Bank at monthly or quarterly basis. In case of loan limit one crore ET above it is need to be reported monthly and the entire loan amounting Tk. 50,000/- above are required to report quarterly. Form: CIB-1This from is related to borrower information only. Proper sector code and other information should be incorporated properly. Form: CIB – 2 This form is related to the owner(s) information of the borrowing company. Owner’s code and other information should be incorporate properly. Form: CIB – 3This form is related to group / affiliated concern(s) information of the borrower and or any of its owners. Form: CIB – 4 This form represents the credit exposure of the borrower with the reporting bank. Dotted boxes are need not re quired to be reported. Economic purpose code, security code, Classification status and other information should be incorporated property. Form: CIB – 5 This form is related to the guarantor(s) information of the borrower. All the form should be filled in full name with proper address, Abbreviated name are not acceptable. The impact of CIB in our country is very positive. CIB discourage loan defaulters.A loan defaulter cannot participate in any election as a candidate. It is also a way to harass the defaulter socially. At the initial stage of CIB [about 1990] total classified Loan was detected 41 %. By introducing CIB the percentage of classified loan could be minimized. So indirectly it helps our economy. It also helps the schedule bank by way of providing information as per requirement. [pic] PART D PERFORMANCE EVALUTION BANK ASIA (PATHERHAT BR. ) [pic]5: PERFORMANCE EVALUTION BANK ASIA (PATHERHAT BR. ) [pic] 5. 1 DEPOSIT [pic] Bank Asia, Patherhat Branch launched it operati on on 13th April,2012.AD The deposit volume of Bank Asia Ltd, Patherhat Branch, Chittagong is continuously increasing. The deposit amount is 19 crore at |April,2012. Through the following table the deposit position of Bank Asia Ltd Branch is shown. Showing monthly Deposit of Bank Asia Ltd. Patherhat Branch from the month of December,2011 to April,2012. Deposit (Amount in Crore) |Month |December |January |February |March |April | |Deposit |167446961 |174431349 |178152397 |173798455 |190064299 | 5. 2 ADVANCE [pic]The credit volume of Bank Asia Ltd, Patherhat Branch is increasing day by day. Showing monthly Deposit of Bank Asia Ltd. Patherhat Branch from the month of December,2011 to April,2012. Loans and Advance |Month |December |January |February |March |April | |Loans and Advance |12442268 |9877521 |10921573 |15813095 |19803015 | 5. 3 TOTAL INCOME [pic] The total income of Bank Asia is increasing day by day. Net loss of the branch is decreasing day by day by its acclerated efforts t o go the horizon of Profit. Month |December |January |February |March |April | |Total Inocme |1585091 |1760171 |1595499 |1777016 |1957001 | 5. 4 TOTAL EXPANSE [pic] With expansion of opeation of the branch, the total expense of the branch is incrasing day by day. |Month |December |January |February |March |April | |Total expense |3236019 |2337849 |9169238 |2372934 |2407706 |Position for the month of March, 2012:- |Particulars |Monthly Position of February 2012 |Monthly Position of March 2012 |Cumulative up to March, | | | | |2012 | |Total Deposit |178,152,397. 55 |173,798,455. 59 |173,798,455. 59 | |Total Advances |10,921,573. 95 |15,813,095. 60 |15,813,095. 60 | |Interest Income |1,571,766. 70 |1,745,422. 9 |5,052,804. 32 | |Other Income |23,732. 57 |31,593. 58 |79,882. 32 | |Total Income |1,595,499. 27 |1,777,016. 70 |5,132,686. 35 | |Interest Expenses |1,393,856. 72 |1,488,478. 72 |4,387,861. 15 | |Other Expenses |775,381. 63 |884,456. 00 |2,492,141. 53 | |Total Expenses |2,169,2 38. 35 |2,372,934. 4 |6,880,002. 68 | |Net Provisional Profit/Loss |(573,739. 080 |(595,918. 77) |(1,747,316. 33) | |Foreign Inward Remittance |2,415,193. 08 |1,984,934. 01 |6,289,562. 22 | of Bank Asia, Patherhat Branch is given below– [pic] PART E JOB PART [pic]6: JOB PART [pic] 6. 1 JOB DESCRIPTION [pic] In order to achieve best service quality Bank Asia has separate department called â€Å"CUSTOMEN SERVICE DEPARTMENT†, which is responsible of maintaining over all services of the bank to satisfy customers.To establish world class guest experience in all its operations it mainly focusing on people, infrastructure, technology, products and process. In order to ensure such experience Bank Asia always looks for enthusiastic people as employee and interns as well. I was doing the Internship under customer service depertment from January 25March, 2010 to May 25, 2012 in Patherhat branch. 6. 2 KEY RESPONSIBILITIES [pic] ? Ensuring first hand services to the client. ? Keep observing the service activities during the service hour. ? Guiding lost clients to have proper services. ? Having clients suggestion and complains and reporting to BM. Ensuring clients solutions and quality services. ENSURING FIRST HAND SERVICES TO THE GUEST: [pic] Bank is a financial institution so it is very tuff for a guest to know each service point. They sometimes come up with such problems for which they need not to talk to customer service manager or Branch manager. Like – how to write a deposit slip or how to use ATM card in booth etc. in that situation my primary duty was to greet them so that they rely upon me to have on the spot service. On the other hand my primary duties are understanding guest’s problem and guide him or her to talk with the right person on the right desk.KEEP OBSERVING THE SERVICE ACTIVITIES DURING THE SERVICE HOURS: [pic] During the service hour, many unusual situations may arise. So my another duty was to keep looking into those situat ions and make instant solutions like keep looking whether staff behaving the way they should behave or not. To look after whether any staff is ignoring any customers or not, was my another job duty. GUIDING LOST GUESTS TO HAVE PROPER SERVICES: [pic] It is usual situation that different professions people come to bank every day. Some profession people come to bank for the first time and doesn’t know verall service arrangement of the bank. They enter into the branch and starts wondering around within the bank. They get completely lost. So, my responsibility was to listen and guide them in a proper way. HAVING CUSTOMER SUGGESTION AND COMPLAINTS [pic] Since each branch is a touch point for the bank so it’s the better option for SQ department to have better guest experience. Another duty is to collect such suggestions and complain from guests and reporting to the Branch Manager. ENSURING CUSTOMER SOLUTION AND QUALITY SERVICES [pic] A guest should have a complete solution of a problem from branch.If it is not possible for customer service officer then take him/her to customer service manager even if it is not possible for the CSM then take him/her to BM. In the meanwhile I have to ensure the quality service to the guest. 6. 3 DIFFERENT ASPECTS OF JOB [pic] There are five essential areas to excellence in guest experience. Bank Asia Client experience standard will apply it the five aspects for excellence in guest experience listed below— 1) People 2) Premises 3) Papers 4) Processes and 5) Practices People: The team who serves the clients. Premises: The location or place where we serve the clients. Papers: The documents we use to provide and receive information and to communicate with our clients and colleagues. Process: the process that enable us to delight our clients. Practices: the way we interact and talk with our clients. For keep concentrating on service issues, Bank Asia has prepared client experience fundamentals for its entire team me mber. Bank Asia’s client standards are— o BOLD: All team members are will be bold and on behalf of their clients and colleagues. They will be first to greet, first to listen and first to make any suggestions.They are the persons who satisfy the demands of the clients even if they are unexpressed o RELIABLE: The team member will take full ownership in serving their clients to their complete satisfaction o APPEALING: The team members have to ensure that all clients touch points are appealing and inviting o CONSISTENT: The team members will ensure that their clients experience quality is consistent in all aspects across all clients service point all the time. Apart from the above mentioned jobs, I was appointed for following works as well. Software called Stelar where I have to do: CIF (Customer Information Form). A/C verify & close FDR, DPS opening Cheque book, ATM card issue, Active. My major job purpose & principle accountabilities in the banks are as follows: Ensu re account opening, modification, closing, and ATM card & Cheque book requisition and remittance activities. Implement client service strategies to achieve Bank Asia objective and plans Ensure quick resoling of client quires and issues Efficiently handle customer complains Properly maintain FDR, ATM, Account and other registers Receiving checks, issue cheque book, Fund transfer Verifying check book register, Customer Signature verification Writing pay order, Statement inquire Checking balance as per individual customer request Providing all kinds of general banking information to the customers Issuing check books and posting them into the system. 7: RECOMMENDATION [pic] ? Since the branch is situated in a suitable place, so it should introduce ATM Booth of its own very soon. ? Clearing Department should be under online. ? Locker should be introduced. ? To reduce the working presure of the existing employees new capable employees should be employed. Since there are huge numb er of coverage loan, a recovery team should be introduced. ? Banks marketing policy should be more stronger to influence big corporate clients joint with them. ? Bank Asia can introduce about their product and service through different TV channels. So that every initiative of the bank can go at the door the customers. ? More training facilities should be introduced for the junior officers. 8: CONCLUSION [pic] Bank Asia Limited is one of the most renowed growing bank in the country. It is true that Bank Asia increase its growth and popularity with in very short period of time.It has ensured because they have efficient, capable, professional, talent work force. All the officers are very much comitted, helpful and cooperative so that necessary information accumulate through this report. I wish total success of Bank Asia Limited, Pather Hat Branch, and special thanks to Mr. Niaz Ahammed Rashed (FAVP & Manager), SantoshKumar Bhowmik (EO & Sub Manager), and all officers &employees of Path erhat Brahnch, Chittagong. 9: GLOSSARY [pic] IBC:- Inward bills for collection. OBC:- Out ward bills for collection. CIB:- Credit Information.IRC:- Import Registration Certificate. ERC:- Export Registration Certificate. TIN:- Tax Identification Number. BIN:- Business Identification Number. L/C:- Letter of Credit. FDR:- Fixed Deposit Regular. SME:- Small and Medium Enterprise. CCI&E:- Chief Controller of Import and Export. LCA:- Letter of Credit Authorization. B/L:- Bill of Lading. B/E:- Bill of Exchange. STD:- Short Term Deposit A/C. SOD:- Secured Over Draft. LBC:- Local Bills for Collection. LTR:- Loan Against Trust Receipt. FOB:- Freight On Boat. DBR:- Debt Burdeb Ratio. CPV:- Contract Point Verification.SWIFT:- Society for Worldwide Inter-bank Financial Telecommunication. ICC:- International Chember of Commerce. 10: BIBLIOGRAPHY [pic] †¢ Bank Asia Limited. Management Trainee Report. †¢ Bank Fund Management, Dr. A. R. Khan. †¢ Jeff Madura. International Financial Ma nagement. (West Publishing company, 4th edition, 1995). †¢ Rose, P. S. (1999). Measuring and Evaluating Bank Performance. Commercial Bank Management, Fourth Edition. †¢ Annual Report of Bank Asia Ltd. †¢ www. bankasia. com TITLE OF INTERNSHIP: GENERAL BANKING PRACTICE OF BANK ASIA LIMITED Objective of the Study:The major objective of the study is to evaluate the general banking practice of Bank Asia Ltd. To achieve these major objectives, the specific objectives of the study are mentioned below: 1. To high light the authorities involved in general banking of Bank Asia Ltd. 2. To examine the Account opening system of Bank Asia Ltd. 3. To show the Product or Services of Bank Asia Ltd. 4. To evaluate the General Banking Function of Bank Asia Ltd. 5. To find out problems of general banking practice of Bank Asia Ltd. 6. To give suggestions for improving of general banking practice of Bank Asia Ltd. ———————– BANK ASIA | | |CHAIRMAN | |PRESIDENT AND MANAGING DIRECTOR | |DEPUTY MANAGING DIRECTOR (DMD) | |SENIOR EXECUTIVE VICE PRESIDENT (SEVP) | |EXECUTIVE VICE PRESIDENT (EVP) | |SENIOR VICE PRESIDENT (SVP) | |VICE PRESIDENT (VP) | |FIRST VISE PRESIDENT (FVP) | |ASSISTANT VICE PRESIDENT (AVP) | |FIRST ASSISTANT VICE PRESIDENT (FAVP) | |SENIOR EXECUTIVE OFFICER (SEO) | |EXECUTIVE OFFICER (EO) | |SENIOR OFFICER (SO) | |MANAGEMENT TRAINEE OFFICER (MTO) | |OFFICER | |JUNIOR OFFICER (JO) | |ASSISTANT OFFICER (AO) | |BANKING OFFICER (BO) | |TRAINEE OFFICER (TO)/TELLER | | [pic] [pic] [pic] [pic] [pic]