Insurance companies Finances Coursework Example | Topics and Well Written Essays - 1250 words

Insurance companies Finances - Coursework Example The organization will also be able to save the cost of loans which they would have otherwise opted for. The demand of current assets in the organization can be efficiently met by investing the unassigned surplus in the right area. The properties maintained by the business organizations are insured to adhere to the safety standards. The insurance of the properties involve a premium and are known as property insurance premium. The systematic methods of calculating these types of insurance premium fall under different ‘classes’ and these classes have different eligibility criteria. Properties with risky factors or having disputed issues, and properties specially protected are not generally eligible for the class ratings. For these types of cases, insurance premiums are specially rated. The rates used are specifically for those assets which are determined by physical inspection. The method of class rating is based on the assumption that the future losses to be insured will be determined largely by some sort of factors. The major classification factors in homeowners insurance include construction material, age of the home and protective devices like smoke detectors and fire extinguishers. One of the major advantages of class ratings is that it is easy to apply. Premium quotations of the ratings can also be quickly obtained. It is also known as Manual Rating. These rating are mainly used in homeowners insurance, private passenger auto insurance, workers compensation, and life & health insurance. Compensation Insurance Fund considers the following items when establishing a merit rating for a policy. They are classification evaluation, management business practices, and management safety practices Classification Evaluation: This category evaluates any changes in the operations of the employer when compared to the other operations normally contemplated within the same classification. The process of

Incredible India Assignment Example | Topics and Well Written Essays - 1000 words

Incredible India - Assignment Example The former capital of India was Kolkata, situated in the east of India. Today the capital of this country is Delhi located in the northern part of the country. Its flag has 3 horizontal bands of 3 colors with a blue Ashok chakra (24- spokes wheel) in the middle of the white band. First band is of saffron color which stands for courage and sacrifice, the second band is white which symbolizes peace and honesty, whereas the third band which is green signifies hope, joy, fertility and love and in many cultures have a sacred significance. Blue symbolizes vigilance, truth and loyalty, perseverance and justice. The currency of India is denoted in rupees. II. When we hear the name â€Å"India† one thing that comes to our minds is a huge country full of different colorful cultures and people coming from different religions with unlike beliefs speaking diverse languages having dissimilar lifestyles staying together with peace and harmony in one country. India was once known as the †Å"Golden bird† and today it is considered as the country of colors. From the deep red –orange marigold flowers that festoon almost every festivity to the tones of deep red that become the adornment of the bride on her most important day, India without colors cannot be imagined. Colors, becoming a vital part, controls every aspect of life in India when it comes to religions, festivals ,cultures , politics be it anything. In India be it north, south, east or west, color and culture go hand in hand. If I had to define India in one line it would be a magical experience which must not be missed. III. Below I will be discussing about language, art, marriage, family and religion in India. First we need to know the definitons of language, art, marriage, family and religion. IV. According to dictionary.reference.com, â€Å"a body of words and the systems for their use common to a people of the same community or nation† is called a language. In simple words a language is a way of communication between two or more living beings in such a way that both can understand what the other is trying to share. India is a vast country and therefore has many people belonging to diverse cultures. Each culture and community has its own language. Languages in India have evolved from two families, the Aryan and the Dravidian. Languages spoken in the southern part of India belong to the Dravidian family whereas the languages spoken in the northern part of Indian come from the Aryan family. Apart from these two families of language there is another language known as Sini-which come from the Mongoloid family mostly spoken in East India. Languages have evolved in different phases of history of India. The languages in which the holy books of different religions have been written is not spoken commonly any more. The holy books of hindus are written in Sanskrit, the holy books of Buddhism are written in Pali whereas Qoran is written in Arabic. Though these languages are not spoken in day to day life yet sanskrit is acknowledged as one of the official languages of India. Today Hindi is recognized as the official national language of India. Hindi is easily understood everywhere in India. People who speak other languages have also got quite familiar with Hindi due to media. Second to Hindi comes English. Today english is widely spoken

Multinational Company Bmw Economic Essay

Multinational Company Bmw Economic Essay BMW is the multinational company that I choose for the assignment. BMW is a company that operating in more than 1 country. They are not only operating in their home country (Germany) but they also operate in many countries like: Malaysia, Singapore, Thailand and etc. Beside that BMW also have manufacture in country like UK, USA, Mexico, South Africa and etc. So BMW is proving as a multinational company. BMW Group is one of the worlds largest premium carmakers and BMW is also the parent of the company of BMW MINI and Rolls-Royce car brands, and, formerly, Rover. BMW headquarters in Munich, Germany. The company slogans in English are The Ultimate Driving Machine and Sheer Driving Pleasure. BMW was founded by Karl Friedrich Rapp in October 1913. Automobiles, motorcycles and financial services are three segments that operate by BMW and they manufactured the first passenger car running by hydrogen. BMW manufacturing is plant in Germany, Austria, UK, USA, Mexico, South Africa, Egypt, Brazil, Malaysia, Indonesia, Philippines and also Vietnam. BMWs main competitors include Acura, Alfa Romeo, Audi, Cadillac, Infiniti, Jaguar, Lexus, Mercedes-Benz and Volvo all of this are consider luxury brands of the car products. Nowadays, BMW is support by 11different types of series which is: BMW C1, BMW 1, 3, 5, 6, 7 series, BMW X3, 5, 6, BMW Z4, BMW M5, BMW M6, and BMW Z4 M. According to the research, shown that there are 2 new divisions for BMW been introduce in October 1, 2007. Which are corporate and brand development will be lead by the director of corporate planning this is focus on the vital for brand management, corporate planning, and strategic implementation BMW. Second, purchasing and supplier network that headed by Dr.Herbert.Diess. The purpose is to reduce the material cost and expenses factor. These are few of the new management strategy that BMW Company is using to operate the c ompany. 15 Sentence of credit crunch in general are stand for credit crunch make it almost impossible to the lender like bank and investor to borrow the money because they become very chary of lending the money to the corporation. They scared of bankruptcies and defaults, which they drive up the price of debt products for borrowers which result in higher rates. The consequence is drag on of recession, which the shrinking of the credit supply wills happens as a result. 2 Credit crunch overall background is starting with the lender like bank are suffering loss because of their previous lending loans, and this make them normally unable and averse to lend the money again to the borrowers. This happen when the borrower in arrears and the properties underlying a defaulted loan and drop in the value. As in this case the borrowers default, the bank can only foreclose on hypothecate and trying to sell this property to compensate the funds they loaned out. Thereby, if the pricing of the house is decreasing, the bank is considered left selling at the cost. The banker capital position is reducing; when they suffer losses which are reduce the amount that they are able to lend out. The lending institutions are requiring keeping down the minimum levels of capital. 3 The reasons that cause to the credit crunch are first: speculation. Many people go to obtain additional loans with very easy terms for instance no initial down payment because it is too easy to gain the credit from the banks so that all of the peoples and investors think that the price will going to increase also. The rapidity increase in property value make investors to jump into the investment with low and no fundamentals. This situation will make the investors to feel that they are missing out and left behind, in case as many investors going to heap up it will cause increasingly unsustainable to the price of property. Next is lack of the regulatory oversight, the distrustful of loans are make by mortgage brokers and bankers, the underwriters who working in the bank are determine whether the ability of the borrowers is there for them to repay the loans and turn a blind eye to what is going on so that the increasing of the profit can see by the loans that they have written. In addit ional, there are others reasons like Adjustable-rate mortgages (ARMs) and subprime loans, the repeal of the Glass-Steagall Act, Historically low interest rates, and as well as politics which happen because many of the politicians going to say that the higher of the rate of the home ownership for Americans is better, but what would happen to the economy from the perspective of those that cant afford their homes when an inevitable slowdown occurred.4 The occurring of the credit crunch will actually affect the economy of a country and company in few ways. First, the banker will actually tighten up the credit for all types of loans and become more caution to lending the loans. So that this directly affects the small businesses peoples that who are depend on the loans and the credit to fund their day to day operation and become illiquid. Next, unemployment rises is one of the ways that will affect a company and country where the businesses are unable to pay for all the immediate bills and so that they also facing the problem that they cannot pay for the employees salary and so that caused the situation like unemployment increasing in nationwide. The bankers and the brokerage firms are hit by this credit crunch. Apart of that a spiraling domino effect occurs, above these two economies effects of the economies crisis can make the economy of a country going down and than affect the whole country economy and if the economy of a country continues to going downward, it will lead to the difficult to stop the cycle. 5 On year 2008, America was affected by the serious economy crisis, and their economy is actually hit really hard by this economy crisis. We can see through the secondary data that done by research show that BMW also hit by 2008 economy crisis. According to (Chris Reiter 2010) BMW and Mercedes this two world largest luxury car makers was only sold a combine 31,000 fewer vehicles last month because of the occurring of economy crisis and cause credit crunch that discourage the power purchasing of consumers. The percentage of sales are also falling down 8.3% to 113.005 cars and sport- utility vehicles from 123,300 vehicles a year earlier by BMW Company whose are also owns the Mini and Rolls-Royce auto brands. Next, Auto sales in US BMW as a biggest market also decrease 32 percent in October of 2008 to the lowest monthly total since January 1991. They look back to their 2008 profile target on November BMW plans to cut production by 65,000 cars and SUVs according to (Chris Reiter 2010). Chris Reiter (2010) states that BMW is involved in the extremely changeling market and the vehicles sales are decreasing for the whole year because of this. As what Ian Robertson who are the Munich-based carmakers sales chief said: in a statement today, reiterating a forecast released Nov. 4. The retail gains made in our growth markets were unable to fully offset declines in Western Europe, Japan and the U.S. Chris Reiter (2010) also states that BMW posted 12% drop in Western Europe, 5% drop in US and the worst is Japan drop 34%. Furthermore, David Gow (2010) states that credit crunch put brakes on BMW 2008 also when US economy goes down turn and BMW reported that a step fall down in first quarter earnings. The son company of BMW Mini and Rolls Royce said that the pre-tax profits spilled 25% to ( £505m), dragged down by increased risk provisions, tighter credit and the strong euro. According to (S. wall, S. Minocha, B. Rees, 2010)[case study 4.2 BMW after Rover], show Rover in Britain worsened and hopeless in early of March 2010 due to the strong pound damaging the exports of Rover. Finally Rover sells to Alchemy. This happened and uproar Britain press and politicians because scaring big number of unemployment in Rover and few supplier are located around the region. Alchemy withdrew from bidding process and sell to Phoenix consortium for  £10. Previous 6 years BMW spent total  £34billion to save Rover but posted big losses. The disposal provoked a political storm in Britain, and BMW bosses were someone parliamentary before this. Britain government furious, Milberg (who took over CEO of BMW in 1999) retorted government slow to get the signals he sent in a phone call before the situation worsened. This criticism infuriated the government again. This shows that government and political mess will also cause a problem to a company. Apart from that, the case stud y also stated that the decreasing and increasing of a currency will also give a huge impact to a company. The pounds became stronger and then give a direct effect to the company and destroy their exports businesses are one of the problem that we can see from the case and this may indirectly lead to the occur of credit crunch as well. 14 David Gow (2010) states BMW a 5.6% rise across its three brands to a record 351,787 despite a 9.1% drop in their biggest market, US. The international financial crisis deteriorates the climate for consumer spending became gloomier, it said, pointing to March 2008 as the peak of the crisis. Before this BMW still expect to beat the last year sales record to 1.5m but the USs economy getting worst and lead to the dropping of the profits. The world largest luxury carmaker BMW have became the victims of the credit crunch on 2008. It took a 236 million euro (S$500 million) charge because of falling prices and rising bad debt in the United States. The move is the provision made of the divinable losses in business area. This move could cause to increased nervousness about the impact of the financial crisis on the economy in Europe, even as most companies report robust first-quarter results. This is what reported by The Financial Times. The Click here to find out more!Daimler chief executive Dieter Zetsche says that in 2008 may that month the general car sales of US is fall down this year but the growth in emerging in market can expiation it. 6 In addition, research shows that 2008 BMW sons company MINI has declared that axes 800 redundancies in Cowley, Oxford hire prompting protests from unions over a perceived lack of sensitivity towards the rights of agency workers. The redundancy pay will not received by many of the staffs that who have been made the contract through the agency Manpower. At the same time the sales of the luxury cars are drop very ruggedness, so because of that supermini segment has experienced a less severe downturn driven by a consumer shift to smaller and more economical vehicles. Seen from secondary data, clearly we can see the Society of Motor Manufacturers and Traders (SMMT) January figure, the trend towards the smallest segment the mini or city car segment is growing stronger as the recession deepens, with new car registrations up 40.8% on 2008 figures. At British, Mini was one of the last of the car manufacturers that are continue working through these suffering times, but they are not produce an y cars on that relevant week because of to the significant fall in global demand. Around 20% of these 800 axes redundancies are going to tha manufacture like: Jaguar, Nissan and etc. 7 BMW became the first victim of the credit crunch on 24 of April, that who are the world largest luxury carmaker. BMW took a à ¢Ã¢â‚¬Å¡Ã‚ ¬236m ($369m) charge because of falling prices and rising bad debt in the US are showing through the research. But however the pre-tax level is slightly increased compare with last year. 8 The strategy that BMW use to overcome credit crunch are first: that are one of the reason why BMW and Mercedes are teaming up. There are fewer options for OEM (original equipment makers), consolidations of period have gone through by automobile suppliers and this trend is expected to speedup for the next few years. It becomes difficult for the investment capital because credit crunch makes suppliers harder to fund their business. 9 Many organizations are affected by the credit crunch in UK industry and so BMW. But BMW consider one of the successful from them and six awards are goes to BMW and German manufacturer sales rise and new models bring in new customers. Although BMW also affected but they get the award for best small car with the MINI, best small premium car for the 1 Series and best large premium car for the 3 Series. In addition, The 5 Series took the gong for best executive car and the X5 won best SUV and BMW was presented with the Fleet News environmental award for the EfficientDynamics package. 10 Next, BMW also trying to protect himself from credit crunch by helping some of the suppliers. The stronger suppliers are encouraging by BMW to take over weaker supplier in this case and BMW will pay more for the parts, speedup the payment and as well as they will temporary pay higher price for the parts. 11 Apart from that, in UK, during credit crunch the governments are actually asking to help the car manufacture and government helping a litter bit where we just seem it banking sector. According to the research, on that time if the government is still not aware of this problem and the unemployment will become worst and the number of import export within UK and other country will be reduce and shown that UK government will loss  £110 billion revenue and UK  £146.2 billion tax next couple of year if the government despise this case. 12 However, in Malaysia it will still have at least a litter bit effects because of credit crunch but the god strategy need to be prepared to face the credit crunch. According to Briscoe, he believes that the luxury car like BMW needs to have a better positioned for it to growth in the industry when facing difficulty at the economic side. He also said that: There would be an impact but we feel that the volume-based car segment would be more affected than the premium segment. According to him as well in Malaysia market in 2009, was to provide the right car at the right market at the right time. Extra key are they are now focusing on their credit crunch strategy are introduce more diesel powered cars. 13 This are few strategy that BMW done or the place government done to solve the various problem during credit crunch. But actually they are pro and con for every strategy they used and pro and con as well for the helping from the government, it is just depend on each of us to criticize either each of this strategy are falls into pro or con. In my opinion, as the first point I listed above BMW are teaming up with Mercedes, to invest in the suppliers and the next point that BMW are encourage strong supplier to take over weaker suppliers. It is just a good decision I think because it is not a good decision if we just leave our cars part supplier to facing and suffering alone with the credit crunch without any assisting. In the tough time during credit crunch, if we are not helping each other among supplier even competitor we might just die together because of the wrong decision. We can actually helping each other according to our capability like what BMW and the rest done. Next, the ethical issues are very vital for a company. According to (S. wall, S. Minocha, B. Rees, 2010), an organization must make sure that every decision they make, have a conscious ethical content. If it is an internal problem, it maybe about the labour working hours, or their wages problem. When come to the BMW do à £Ã¢â€š ¬Ã¢â€š ¬international business with other country, company must ensure they does not apply their own ethical norms to the foreign country but is conforms to the local customs, and ethical as well as morality enough when making any of the business decision and also during economy crisis. Although the company situation is worse and worried but any decision making by BMW will be ethical enough; example during credit crunch any methods using to solve the credit crunch problem, it must be with ethical.

Cloning :: essays research papers

Millions of people. They all look alike, think alike, and dress alike. Sounds like something out of a sci-fi novel, right? Well, with cloning it’s possible, maybe. They will look alike, but that’s about it. Cloning will help the world, not make it the same. Three pros to cloning are that cloning may hold the secret to eternal youth, the research of genes has changed the thinking of scientists, and that parents would be able to have a child who looks exactly like a model, movie star, etc.   Ã‚  Ã‚  Ã‚  Ã‚  First, cloning could lead to the discovery of the secret to eternal youth. If anyone had a chance to live forever, they would take it. If anyone could have a child who could live forever, they would do it. Cloning may be the answer to eternal youth. â€Å"He said the creation of transgenetic animals could be an important tool in ... ultimately stopping -- the aging process.† Becoming immortal is not the only plus to cloning.   Ã‚  Ã‚  Ã‚  Ã‚  Furthermore, the research of cloning has helped scientists become aware of the way genes operate. With continuous research into the ways of cloning scientists could come to understand the ways cells and genes work. As the information grows we will be able to get rid of genetic diseases and defects. â€Å"As geneticists have come to understand the ways in which genes operate, they have also become aware of the myriad ways in which the environment affects their ‘expression.’† In the future people will be able to decide what their child will look like and what kind of base intelligence the child will have, but they will not be able to decide the child’s fate. For the people who want to control what their children will look like, there is the possibility of cloning a famous person.   Ã‚  Ã‚  Ã‚  Ã‚  Finally, parents will be able to clone a model’s appearance so that their child looks exactly like the person. This would get rid of a feeling of not being beautiful and would allow people to worry about more important things than what other people think a bout them. â€Å"Suppose a couple wants a ‘designer child’ - a clone of Cindy Crawford or Elizabeth Taylor -- because they want a daughter who will grow up to be as attractive as those women.† This would be possible because of the fact that the child would not think or act like the person they were cloned from, they would only look the same.

Federal Reserve Paper Essay

The purpose of this paper is to evaluate the Federal Reserves’ discount rate, monetary policy, and stimulus program through the money multiplier. What are the factors that would influence the Federal Reserve in adjusting the discount rate? According to Chron if prices rise too fast or the economy starts slowing down, the Federal Reserve uses the discount rate as a way of manipulating interest rates to stabilize the economy. This change can either increase or decrease how much you’ll pay to borrow money. How does the discount rate affect the decisions of banks in setting their specific interest rates? According to Chron although changes in the discount rate affect your interest rate, the Federal Reserve does not lend directly to business owners. Rather, the Federal Reserve lends money to depository institutions such as commercial banks. Depository institutions must pay interest on the money they borrow from the Federal Reserve. The discount rate is the interest rate the Federal Reserve charges its depository institution borrowers. Loan interest rates fluctuate in response as depository institutions pass the discount rate changes along to you. How does monetary policy aim to avoid inflation? According to Tutor2u monetary policies tend to invest in various assets, in order to avoid the losses caused by inflation. Increase in interest rates is also another measure, in order to contract the real money supply. Monetary policy controls money supply by increasing the discount rate, and also through increasing and decreasing the reserve requirements of lending banks. If the reserve requirements decrease, the banks can lend more money to consumers and businesses. If the reserve requirements increase, banks have to keep more money in with the fed. The interest rates increase, and people have an incentive to save and earn interest from the bank. If the interest rates decrease, then people do not have an incentive to save and they spend their money. How does a stimulus program (through the money multiplier) affect the money supply? According to Forbes a study by Obama administration economists Christina Romer and Jared Bernstein predicts that the stimulus plan being debated in Congress will raise the gross domestic product by $1. Such a multiplier effect has been heavily criticized by a number of top economists, including John Taylor of Stanford, Gary Becker and Eugene Fama of the University of Chicago and Greg Mankiw and Robert Barro of Harvard. The gist of their argument is that the government cannot expand the economy through deficit spending because it has to borrow the funds in the first place, thus displacing other economic activities. In the end, the government has simply moved around economic activity without increasing it in the aggregate. The problem is that fiscal stimulus needs to be injected right now to counter the liquidity trap. If that were the case, I think we might well get a very high multiplier effect this year. But if much of the stimulus doesn’t come online until next year, when we are likely to be past the worst of the slowdown, then crowding out will greatly diminish the effectiveness of the stimulus, just as the critics argue. The theory of the money multiplier states that for every $1 spent by the government, it drums up $1. 50 in the economy. So, if the government spends more money via a stimulus package, the economy should expand by 50% of the amount of the stimulus package. In conclusion the following topics have been discussed and described to give one an idea of its functions: What is the factor that would influence the Federal Reserve in adjusting the discount rate? – How does the discount rate affect the decisions of banks in setting their specific interest rates? – How does monetary policy aim to avoid inflation? -How does a stimulus program (through the money multiplier) affect the money supply?

Struggle Session

A struggle session was a form of public humiliation used by the Communist Party of Mao. When the struggle session began, the Red Guard used Labor camps, public humiliation, destruction of buildings or objects and corporal punishment to criticize the peoples who opposed to praise the great of Chairman Mao and rejected to publicize Maoism. And their targets were intellectuals, landowners and artists. For example, Ye qianyu was famous in Traditional Chinese painting. During the war, he led a group of artists to participate in the anti-Japanese propaganda of the Allied. So he was labeled â€Å"U. S. mperialism spies† by Red Guard. He is not only to accept the corporal punishment, but also to participate in the labor camp. Therefore, there were two different tendencies of artist when the struggle session began, Political fanaticism class and Creative  Underground  Class. For the Political fanaticism class, they responded to the call of Chairman Mao, followed by the Central Cult ural Revolution combat deployment and the creation of works of art. Most of their works contained the elements about praise of the great achievements of the Cultural Revolution and Demonize â€Å"enemy† which means Capitalist roaders. Follow Chairman Mao and advance in the great storms and wave†, printed by Shen Yao Iraq. It was one of the most famous works in Cultural Revolution. It means the people in the revolution was irresistible and didn’t afraid of anything if they followed Chairman Mao. For the Creative  Underground  Class, most of the works was not related to the expression of the political intentions of the Cultural Revolution. The artist usually used landscapes  to  express their emotion. Huang Qiutuan and Shi Lu was the representative of this painter.