Definition Essay Example | Topics and Well Written Essays - 750 words - 1

Definition - Essay Example Many people have shown the attitude to persevere despite of the difficulties. As a result, they have helped and inspired many to do the same. In this paper, perseverance is defined in three distinct ways: the capability to endure hardships, hard work and committed to the task. Likewise, it will present three famous persons who have shown these characteristics and placed them in the pedestal of success making them good examples to young people. Perseverance is a virtue that entails the ability to endure many adversaries towards the attainment of a goal. This is something Helen Keller showed in her own life journey. We all know that Helen Keller wrote many poems and stories that are widely read by people young and old alike. The inspiring thing about her is that she is blind and deaf. Helen was born on June 27 1880 with the sense of sight and hearing. However, an unknown illness struck her when she was about a year and a half years old. Everyone in her family thought she was going to die. And then unexpectedly, after a few days, she got well. However, her mother noticed that Helen no longer responded to sound (like the ring of the bell) or sight stimuli. They then concluded that the illness has left her a mark which she suffered for the rest of her life. Towards her childhood years, Helen has been very hard to manage particularly when she throws tantrums and screams towards other members of the family. Upon the recommendati on of the family's friend Alexander Graham Bell, Helen's family finally decided to look for a teacher at the Perkins Institution and Massachusetts Asylum for the Blind. Although difficult at first, Helen struggled to learn how to spell words using hand signals. With the efforts of her teacher Ann Sullivan, she continued to improve and master her skills despite of her condition. The highlight of her education happened when Anne brought her to the lake and spelled "water" in Helen's hand and the later immediately understood. From that moment, Helen's improvement was astounding as she could spell thirty new words that day including Anne's name. After this incident, Helen became famous because of an article that was written about her achievement. Eventually, she was also given a teacher to train her how to speak. Helen tried all her efforts to learn how to speak but was unsuccessful because her vocal chords were not fully developed. Still, this didn't stop her from pursuing her dreams. On 1891, she wrote the Frost King as a birthday gift for her friend Michael Agnos. Helen was also recognized as the first deafblind person to enter and finish a Bachelor of Arts degree in a higher learning institution. However, it was not easy for her as tons of school work further led to the deterioration of her eyesight. Helen soon travelled around the world giving lectures about her experiences. She has been an ambassador of faith and determination to many people. Perseverance also shows the spirit of service and commitment to people. Franklin D. Roosevelt is one of the famous American presidents because of the policies and political changes he started. His leadership started just in time when the unemployment rate is high and the economy was in slump. He proposed a program to bring relief to those who are unemployed, recover losses in business and enacted some reforms for the citizenry. Despite of all

Brave New World Essay Example for Free

Brave New World Essay Rhetorical Mode and Purpose It is better that one should suffer than that many should be corrupted.? Existing under a socially oppressive government, Bernard Marx constantly endures mental distress as a consequence of his unorthodox views. In Brave New World by Adolf Huxley, the primary protagonist struggles to voice his bitterness and disgruntled opinions, but the repressive World State tyrannize the society, and he ultimately loses his fight in becoming exiled. Narrated in the third person, Huxley details a technocratic government where signs of emotions are rendered treacherous and extreme consumerism forms the core of society. However, even more revolting is the unconscionable replication of nature through mass cloning, affirming the loss of everything fundamentally human. Through Brave New World, Huxley warned past governments who sought to increase effectiveness and stability, and continues to admonish the modern world, against increasing government intervention. Through narration, Huxley provides a panoramic scope of the horrific details and events residing under the command of a domineering government that asserts its omnipresence in all aspects of life. PASSAGE 1 (114-116) I chose this passage for both analytical purposes and interest value. Its surfeit in syntax variations stood out as a highly appealing passage to be analyzed, and the language effectively aroused suspense out of me. As the world of the savages unravels before Lenina?s eyes, her disgust heightens with each event that takes place, furthering repelling her from the culture. The underlying tone of hypnotic anticipation leads the audience through a series of events that build towards the climatical action of the passage. Through rhythmic syntax that propels the scene forward, dissonant diction and savage details, Huxley provides a lurid atmosphere as the lead-in to the horrifying act of sacrifice. Immediately, cacophonous diction begin to agitate the auditory senses. ?Harsh metallic? male voices answering the ?shrill? cries of the women initiates a perturbed mood and foreshadows deplorable events. As the audience?s sense of hearing wears away, ?a ghastly troop of monsters hideously masked or painted out of all semblance of humanity? enters to disconcert the visual senses. Nothing more than monsters completely devoid of human aspects. Monsters capable of executing actions that would appall Lenina?s society. Anticipation builds as the shrieks become ?louder and louder?; their dances, ?round and round? and ?round and round? again. Their actions echo in successions of hypnotic movements that lull the reader into a trancelike state. ?More and more,? the leader flings black snakes ?brown and mottled.? The periodic sentence emphasis this final action as a symbol of savagery and remnant of a primitive culture that ultimately disgusts Lenina. Dull diction such as ?brown and mottled? assembles a drab layer of atmosphere that looms over the tribal ritual. Adverbs and conjunctions advance toward additional events that further feed anticipation. ?And then the dance began?Then the leader gave a signal?Then the old man lifted his hand.? Syntax and diction continue to build suspense as it mounts toward a most horrific action event. Semicolons and commas function as the dominant driving force behind the passage. Instead of inserting common periods, Huxley surrogates punctuations as a link between closely related details that incrementally build towards the summit. Without paragraph breaks to detract from the anticipation, the events flow in a continuous stream while sentence lengths and punctuations determine the rhythm and pacing. The compound-complex sentences are brought to a sudden halt with the ceasing of the drums. ?The drums stopped beating, life seemed to have come to an end.? The device that signaled life halts suddenly and a series of medium length sentences supercedes the long ones. Just as the storm the eye of the hurricane provides temporary respite, the momentary arrest of the beating only creates further anticipation, leaving the reader waiting for the other half of the hurricane. Rather than satiating expectations, syntax lurches the rhythm suddenly to induce greater anticipation and thirst so th at when it resumes, the resulting effect will be of greater impact. The scene shifts from the panoramic view to focus on the interaction between two specific characters, the old man and the boy. Analogous syntax structure directs attention to the progression of actions. ?The old man clapped his hands?The old man made the sign?The boy moved on Succinct details are unaccompanied by imagery or flowery language that would detract from the crucial suspense-arousing events. ?The coyote-man raised his whip; there was a long moment of expectancy, then a swift movement, the whistle of the last and its loud flat-sounding impact on the flesh.? The actions of the savages tapestry the shroud of luridity that continue to repel Lenina while the clause between the semicolon and comma mirror the silence before the strike of the whip. At last, the ?whistle? signifies the anticipated action that syntax, details and diction have all along foreshadowed. ?Twice, thrice, four times round he went?.Five times round, six times round? Seven times round.? Lone words that constitute sentences and telegraphic phrases cut by commas reflect the sound of the lashes. Enumeration of each lash as if a scene from a movie being played in slow motion, grants equivalent emphasize of the pain from each blow. ?A few drops fell, and suddenly the drums broke out again into a panic of hurrying notes; there was a great shout.? The anticipation is finally satiated confirmed by the abrupt burst of drums. PASSAGE 2 (142 144) The details and diction in this passage was striking in conveying John?s fascination with Lenina. It immediately evoked in my mind a scene from Sleeping Beauty where the Prince stumbles upon the bewitched Princess. Lenina?s introduction to John at this point of the novel likens to a scientific experiment where a new and exotic life form is presented in a previously pedestrian environment. John, engrossed with every aspect about Lenina, adopts a humble position and invests her with rapt wonderment. Upon finding her possessions, he takes immediate fascination to his discovery and indulges himself in her relics. John?s actions reflect that of a worshipper. Thus, Huxley employs a tone of reverent infatuation to manifest John?s idolization of Lenina. Dominated by alluring details, the passage aims to manifest John?s unqualified adoration for Lenina. Without delay, olfactory appeal works to captivate John by providing a sense of familiarity, an indication of Lenina?s presence. In ?breathing Lenina?s perfume? and discovering ?a cloud of scented powder?, he conveys his fanatic infatuation, and then continues to ?fill his lungs with her essential being.? A meager waft proves inadequate to satiate John?s desires. Instead, he relishes in bliss, the effusive outpouring of her presence, breathes in her scents like a drug, and allows it to pervade all of his internal organs. In addition, he imagines the ?touch of [her] smooth skin against his face, while other tactile details confirm his nostalgic longing for her. As if in the presence of a goddess, he executes his actions with the most scrupulous care. Bending over the precious box, he touched, he lifted into the light, he examined. Polysyndetons and parallel structures emphasizes each action as distinct entities with equivalent importance. Commas retard the process so as to display not cursory haste, but fastidious devotion   not coarseness, but refinement and not brashness, but the delicacy of a worshipper in tending to a higher life form. Abstract diction continue to manifest John?s obsessive attachment to Lenina. Huxley attributes her possessions with desirous diction, labeling her perfume as delicious, her box as precious, her puzzle, a delight. John becomes entranced by her divine possessions, and muses over Lenina reverently. Delving further into the passage, comparative details attributed to Lenina and syntax portraying John as a stalker reveal the extent of his infatuation. Metaphors ascribe enigmatic aspects to Lenina, which intrigues John and plunges him into enchantment. Infatuated, he derives pleasure from unriddling her bewitched apparels. A simple pair of velveteen shorts likens at ?first a [to a] puzzle, then solved, a delight.? Lenina, furnisher of magically exotic appeal, jolts excitement into his previously mundane life of savagery. Huxley portrays her through John?s eyes as analogous to a mystery to be demystified, lock to be unlocked, cipher to be deciphered ? all of which fascinates John and builds on his infatuation. However, his conspicuous adoration becomes suppressed into a concealed form when agitation forms over the possibility of being discovered. Covert syntax and  diction depict John as an infatuated stalker. ?He heard something ? something like a sigh, something like the creak of a board.? Huxley purposefully employs ambiguous diction such as ?something? as opposed to concrete observable details. Disclosing her hiding position, Lenina?s appearance gradually comes into scope. John replies with stealthy obsession and strategically planned actions, reflected by extra inserts of commas that mirror his wary movement. ?He tiptoed to the door and, cautiously opening it, found himself looking on to a broad landing.? With enchanting metaphors and furtive syntax, literary devices continue to manifest John?s infatuation. Upon reaching the climatical action of John finally disclosing Lenina?s position, the tone ultimately assumes one of consummate reverence. Descriptive details of Lenina fast asleep enhances her chaste qualities. ?So beautiful in the midst of her curls, so touchingly childish with her pink toes?so trustful in the helplessness of her limp hands and melted limbs, that the tears came to his eyes.? Excessive use of the adverb ?so? heightens the degree of her qualities, implying an empyrean life-form inspiring awe. The child-like characteristics solicits sacred protection from John. Huxley?s delineation of her as ?limp? and ?melted? with a ?grave? sleeping face suggests death and ascendance into heaven. John, captivated, reveres her as one would of a goddess. Complex-compound sentences embroiders her purity and innocence while allusions to Shakespeare?s Romeo and Juliet continues to attribute divinity. ?On the white wonder of dead Juliet?s hand, may size/ And steal immortal blessing from her lips.? Comparison to Juliet further implies the notion of her resemblance to a goddess possessing immortality and an ethereal aura. In a humble manner, John ?very slowly, with the hesitating gesture? reach out to affirm the heavenly presence. However, his hands ?hung trembling? as he ruminates on the sacrilegious. Dare he ?profane? with his ?unworthiest? hand? Awe-inspiring details and sacredly connotated diction avouch the tone of infatuated reverence. PASSAGE 3 (232 233) The tone of this passage was not presented by the narration or characters in the novel, but rather created by a passage from a book being read by one of  the characters. I thought it was interesting to analyze a tone inside a passage of a passage. The abstract and metaphysical level of Brave New World reaches its apex when Mustapha Mond proceeds to read a passage from Maine de Biran?s book that justifies man?s eventual submission to God. While Biran holds the creed that individuals ultimately lose control of their lives and inevitably capitulate to the overwhelming siren call of God, Mond challenges that with the World State, one never experiences loss and thus will never seek counsel of religion. Huxley employs a tone of forensic instructiveness to allow both sides to present their cases effectively. Persuasive syntax utilized in Biran?s excerpt efficaciously compels the audience to assume his position. Immediately, the passage adopts the structure of a formal argument with Biran?s proposal of his thesis. ?We are not our own any more than what we possess is our own. We did not make ourselves, we cannot be supreme over ourselves. We are not our own masters. We are God?s property.? Simultaneous use of the pronoun ?we?, and three consecutive negatives carves away at the monolith of individual confidence. The anaphora build logical progression toward the thesis, whose brevity and sole affirmative adverb grants emphasis on unity with god. Also, rhetoric use of first person point of view lends itself to the notion that this pertains to all. Biran?s argument develops into a tone of instructiveness so as to provide support, illustrated by the transition, ?take this for example.? Repetitions in diction function to acknowledge the opposition. to have to think of nothing out of sight, to be without the irksomeness of continual acknowledgements, continual prayer, continual reference.? Syntactical analysis of Biran?s introduction reveal a tone of forensic instructiveness. Upon setting up the premise, Biran now proceeds to counter the opposition by providing rational support. The extensive length and complexity of the sentences that follow, broken down logically by semicolons and commas, carries the reader through a step by step process of rationally reaching a valid deduction. Diction, as well as syntax, justify man?s ultimate  submission to religion. With transitions such as ?feeling thus? and ?from which,? the progression towards the conclusions likens to a mathematical proof abundant with derivations. Anaphoric use of ?as the? and ?less? exhibits an inverse relationship between aging and the sentiments that prevented dependence on religion. Thus, with aging, ?God emerges as from behind a cloud? of with omnipotence, indicated by a series of fate-associated diction. ?Naturally,? one turns to God when he loses control of his world, and will ?inevitably? submit under his ?absolute? and ?everlasting? power. With spiritual and abstract diction, Biran?s concepts appeal spiritually and offer cleansing. ?So pure; so delightful to the soul.? The elongated sentence ultimately reaches its objective, its emphasis granted by a single dash. ? ? a reality, an absolute and everlasting truth.? Enhanced by mathematical instructiveness and persuasive diction, Biran effectively presents his case. After introducing Biran?s position, Mond assumes the tone of forensic instructiveness. He promptly proposes a qualified argument: ?You can only be independent of God while you?ve got youth and prosperity.? Mond builds his case upon the assertion that so long as one attains youthful desires and lives without the fear of death from old age, religion holds no significance in their life. Transitions prove to be the driving force of Mond?s counter-argument. ?Well, we?ve now got youth, what follows? Evidently, that we can be independent of God.? His argument, comparable to Biran?s, progresses logically and employs first person pronouns as well. ?And why should we go hunting for a substitute for youthful desires when desires never fail He summarizes his position with comparative rhetorical questions that juxtaposes both sides of the argument. The inquires detract rationale from Biran?s assertions while promoting his alternate solutions. Through forensic instructiveness, Mond?s counter-argum ent proves to be efficacious as well.

Eloquent Boldness :: essays research papers

Eloquent Boldness   Ã‚  Ã‚  Ã‚  Ã‚  Should slavery be allowed in the United States? This question divided our nation into two separate entities in the late 1800’s and laid the foundation for an ethically compelling speech. On June 16,1858, Abraham Lincoln, the Republican candidate for the U.S. Senate, spoke out to over 1,000 Republican delegates in the Springfield, Illinois, state house for the Republican State Convention. At this gathering, Lincoln delivered an extremely courageous, â€Å"A House Divided,† speech. In this eloquent yet bold speech Lincoln uses evidence that appeals to emotion, evidence revealing credibility and evidence that appeals to reason in hopes of encouraging support in the Republican cause; the formation of a unified nation without slavery.   Ã‚  Ã‚  Ã‚  Ã‚  Lincoln builds an appeal to emotion with the first statement of the speech, â€Å"Mr. President and Gentlemen of the Convention.† This statement gives each member of the audience a sense of importance and captures their attention by personally addressing the delegates in an honorable and professional manner. Lincoln emotionally involves his audience throughout the speech through rhetorical questions. Lincoln uses these questions to imply that slavery is an unethical and immoral practice that must be eliminated. An example of this would be when Lincoln states that the nation as a whole will either completely legalize slavery or bring slavery to an ultimate extinction. He follows this statement with the rhetorical question, â€Å"Have we no tendency to the latter condition?† With this statement Lincoln evokes the emotion of sympathy from the audience through ethical appeal. Ultimately he hopes to instill the belief that the elimination of slavery is th e correct solution to the current problem of the increasing rift between the North and South.   Ã‚  Ã‚  Ã‚  Ã‚   Lincoln uses the metaphor, â€Å"A living dog is better than a dead lion.† Regarding the comments made by those who believe the greatest of the Republican party are small compared to their adversaries. This belittles the Republican delegates and raises them up in anger in hopes that they will take action against this accusation. The reference to the Republican party members as a living dog, plays on the emotion of anger invoked by the Democratic comments. With the uses of this metaphor Lincoln hopes to help in the accomplishment of the Republican cause. In his closing remarks Lincoln states that, those whose hands are free, whose hearts are in the work and who do care for the result are they who must be intrusted with the republican cause.

A Summer Trainng Report on Recruitment & Attrition Management

A Project Study Report On Training Undertaken at ICICI PRUDENTIAL LIFE INSURANCE CO. LTD. Titled â€Å"Recruitment and Attrition Management† Submitted in partial fulfillment for the Award of degree of Master of Business Administration Submitted By: – Submitted To:- ANITA SINGHAL Ms. Sonali Singh Chauhan MBA Part 3rdLecturer of MBA Department 2011 – 2013 PREFACE Theoretical knowledge without practical knowledge is of little value. Theoretical studies in the classroom are not sufficient to understand the functioning of complex & large sized organization.A student of management can have a theoretical knowledge, but he/she must have a practical knowledge too, so that he/she can be able to tackle the various problems that arise in business. Therefore, it becomes necessary for a management student to undergo any project work. Practical knowledge supplements the theoretical studies and covers all the possible area, which is left uncovered in classroom. A systematic prac tical training is necessary for a trainee to bring in him the confidence for job performance & mental preparation which enables him to take up future job responsibility.It exposes student to invaluable treasure of experiences. I had received training at ICICI Prudential Insurance Co. Ltd. Jaipur (Raj. ), in the Recruitment and Attrition Management. During the training program, I got the opportunity to learn valuable things regarding management. It was my fortune to get the training in a very healthy atmosphere. The management of the company offered learning situation, sufficient facilities & training opportunities to fulfill the objectives of training. The overall gain to me will be reflected in the report itself.This project has really exposed me to a far new world & I sincerely hope that â€Å"ICICI Prudential Insurance Co. † will find my study equally valuable as I found it in shaping my career. Acknowledgement A research study cannot be completed without the help guidance of various individual & institutions. I expressed my sincere thanks and gratitude to all those who made it possible for me to complete this report. With great pleasure and sincerity I wish to express my deepest sense of gratitude towards Mr.AMIT GOYAL (Branch Manager) for their valuable guidance and Practice suggestions and for patiently enduring my numerous queries I would highly thankful to Mr. Sudhanshu Shanker (Senior Manager Human Resources) who assigned this project to me and providing me the opportunity to complete this project with their guidance and experience. I wish to thank ICICI Prudential life Insurance Co. Jaipur, (Raj. ) for providing me an opportunity to work with them on this project. My stay in the organization has been a great learning experience.This exposure has greatly enriched me with knowledge. (ANITA SINGHAL) MBA – 3rd SEM Executive Summary Board of Directors: The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from th e finance industry both from India and abroad. Ms. Chanda D. Kochhar, Chairperson Mr. N. S. Kannan, Director Mr. K. Ramkumar, Director Mr. Barry Stowe, Director Mr. Adrian O’Connor, Director Mr. Keki Dadiseth, Independent Director Prof. Marti G. Subrahmanyam, Independent Director Ms. Rama Bijapurkar, Independent Director Mr.Vinod Kumar Dhall, Independent Direct INDEX Chapter NO. | | TOPIC| | PAGE NO. | 1| | INTRODUCTION TO THE INDUSTRY| | 7| 2| | INTRODUCTION TO THE ORGANISATION| | 10| 3| | RESEARCH METHODOLOGY| | 33| | | 3. 1 TITLE OF THE STUDY| | 33| | | 3. 2 DURATION OF THE PROJECT| | 33| | | 3. 3 OBJECTIVE OF STUDY| | 33| | | 3. 4 TYPE OF RESEARCH | | 34| | | 3. 5 SAMPLE SIZE AND METHOD OF SELECTING SAMPLE| | 35| | | 3. 6 SCOPE OF STUDY | | 35| | | 3. 7 LIMITATION OF STUDY| | 36| | | FACTS & FINDINGS| | 38| 5| | DATA ANALYSIS AND INTERPRETATION| | 40| 6| | SWOT ANALYSIS| | 54| 7| | CONCLUSION| | 57| 8| | RECOMMENDATION & SUGGESTIONS| | 59| 9| | APPENDIX| | 62| 10| | BIBLI OGRAPHY| | 65| CHAPTER – 1 INTRODUCTION TO THE INDUSTRY Overview of the Life Insurance Sector in India: With largest number of life insurance policies in force in the world, Insurance happens to  be a mega opportunity in India.It’s a business growing at the rate of 15-20 per cent annually and  presently is of the order of Rs 450 billion. Together with banking services, it adds about 7 per  cent to the country’s GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8 per cent of GDP. Yet, nearly 80 per cent of Indian populations are without life insurance cover, health insurance and non-life insurance continue to be below international standards. And this part of  the population is also subject to weak social security and pension systems with hardly any old age income security.This itself is an indicator that growth potential for the insurance sector is immense . A well-developed and evolved insurance s ector is needed for economic development as it  provides long term funds for  infrastructure development and  at the same time strengthens the risk  taking ability. It is estimated that over the next ten years India would require investments of the order of one trillion US dollars. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country.With a large capital outlay and long gestation periods, infrastructure projects are fraught with a multitude of risks throughout the development, construction and operation stages. These include risks associated with project implementation, including geological risks, maintenance, commercial and political risks. Without covering these risks the financial institutions are not willing to commit funds to the sector, especially because the financing of most private projects is on a limited or non- recourse basis. Insurance companies not only provide risk cover to nfrastr ucture projects, they also contribute long-term funds. In fact, insurance companies are an ideal source of long term debt and equity for infrastructure projects. With long term liability, they get a good asset- liability match by investing their funds in such  projects. IRDA regulations require insurance companies to invest not less than 15 percent of their  funds in infrastructure and social sectors. International Insurance companies also invest their  funds in such projects. Insurance is a federal subject in India. There are two legislations that govern the sector-The Insurance Act- 1938 and the IRDA Act- 1999.The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. Under  the current guidelines, there is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Committee.The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. A host of private insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001. CHAPTER – 2 INTRODUCTION TO THE ORGANIZATION Company Profile: ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank – one of  India's foremost financial services companies-and prudential plc – a leading international financial services group headquartered in the United Kingdom.Total capital infusion stands at Rs. 37. 72 billion, with ICICI Bank holding a stake of 74% and Prudential plc  h olding 26%. We began our operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Today, our nation-wide team comprises of over 954 branches in addition to 1,015  micro-offices, over 296,000 advisors; and 21 banc assurance partners. ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings.For three years in a row, ICICI Prudential has  been voted as India's Most Trusted Private Life Insurer, by The Economic Times – AC NielsenORG Marg survey of ‘Most Trusted Brands'. As we grow our distribution, product range and customer base, we continue to tirelessly uphold our commitment to deliver world-class financial solutions to customers all over  India. Company Promoters: ICICI Bank: ICICI Bank Limited  (NYSE:IBN) is India's  largest private sector bank  and the second largest bank in the country, with consolidated total assets of $ 121 billion as of March 31, 2008.ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s  presence currently spans 19 countries, including India. Prudential Plc: Established in London in 1848, Prudential plc, through its businesses in the UK, Europe, US, Asia and the Middle East, provides retail financial services products and services to more than 20 million customers, policyholder and unit holders and manages over ? 267 billion of funds worldwide (as of December 31, 2007).In Asia, Prudential is the leading European life insurance company with life operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Prudential is one of the largest retail fund managers for Asian sourced assets ex-Japan. Its fund management business has expanded into ten markets, compr ising of China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates. Vision and Mission Statement: Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer in the life insurance industry.This they hope to achieve through their commitment to excellence, focus on service, speed and innovation, and leveraging our technological expertise. The success of the organization will be founded on its strong focus on values and clarity of  purpose. These include: Understanding the needs of customers and offering them superior products and service  building long lasting relationships with their partners providing an enabling environment to foster growth and learning for their employees and above all building transparency in all our  dealings. They believe that they can play a significant role in redefining and reshaping the sector.Given the quality of their parentage and the commitment of their team, they feel that th ere will  be no limits to their growth. Board of Directors. The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad. Ms. Chanda D. Kochhar, Chairperson Mr. N. S. Kannan, Director Mr. K. Ramkumar, Director Mr. Barry Stowe, Director Mr. Adrian O’Connor, Director Mr. Keki Dadiseth, Independent Director Prof. Marti G. Subrahmanyam, Independent Director Ms. Rama Bijapurkar, Independent Director Mr. Vinod Kumar Dhall, Independent DirectPrinciples and Types of Insurance: Principles of Insurance: Insurance is a ‘risk transfer mechanism' – it transfers the financial risks of everyday life from you to an insurance company, but only in terms of the financial consequences of risk. Without insurance, if you car was damaged, it would cost you a lot of money to fix it or to buy another one. It could cost you even more to pay for compensation to someone else involved in an accident. Insurance prote cts  your financial  interests. It  cannot  alleviate the  emotional consequences of an accident. It cannot provide for humanitarian ideals.It can't help you with sentimental losses. But properly used, it will protect your financial investment in your car and your legal obligations should you have an accident. Insurable Interest Before you can insure anything, you must have a legally recognised financial interest in what you are insuring. For motor insurance, you can't take out an insurance policy on the car  driven by the latest film star in the hope that it will crash and you can claim. That is nothing more than gambling. You have no financial interest in the  well  being of the object insured and would gain by its destruction.But you can insure the car you own, or drive. You would suffer  financially if it is damaged or stolen and  benefit from its continued existence. Indemnity This word is used to describe the type of payment you would receive. A motor polic y and a household policy are both a contract of indemnity. It means, subject to the terms of the contract, you are entitled to be put back in the same financial position after a loss as you were in  before the loss. In terms of a ‘new for old' policy the measure of indemnity is agreed at the point of sale rather than the time of claim.The term is also sometime used to indicate if your insurer  will meet the claim at all. A refusal to indemnify is a refusal to pay the claim. ATTRITION It is important to understand the high attrition rate in Indian insurance sector, which stands presently around 35% taking into consideration the Recruitment and Selection of Insurance sales personnel, and various reasons behind the attrition rate are as follows: Controlling Attrition In an ideal world, employees work hard, love their job, worship their workplace, feel like a family and would never leave.But in the real world, employees quit at the drop of a hat. In today’s scenario, it is the major challenge before the insurance companies to control the high attrition rate. As the Indian insurance industry grows exponentially, companies are taking the big leap from survival strategy to competitive strategy. Hence, there is a constant thirst for the best and the brightest of employees, and the result is heavy attrition. In addition, there are several other reasons as to why employees quit. The reasons are too varied to be clubbed together, but the bottom line remains the same—it is all about money!Therefore, it is no wonder that the compensation levels in the industry are heading north. Companies are literally bidding for talent and luring away employees with attractive salaries and designations. While HR experts define it the function of demand and supply, it is a serious concern for employee retention. A Critical Issue After IT and BPO, it is now the insurance sector that is facing the issue of high attrition rates. For most HR managers, employee retentio n is the biggest challenge. Talent or human resource is a major asset for any company.Company Invest high amount of money for their recruitment, selection and training and what happens to company if these talents or employees leave the organization in short while seeking new opportunities. Indian Insurance Industry is one of the fastest growing knowledge based sector with annual attrition rate of around 30-35% compared to the global insurance attrition rate of 10-12% per annum. Current statistics show that higher attrition rate problem mainly exists in Marketing and R;D departments. Major reasons for high attrition rate, stated by employees during the survey are- 1.Inadequate salary or compensation plan. The immediate gain in salary package was found to be responsible for job change in 61 per cent of the cases. 2. Poor management 3. Uninteresting job 4. Lack of motivation Job Lacking Opportunity for Future Advancement Leaving company by the employee not only leads to loss of money f or the company in his training and development of knowledge but it also increase the threat of information security if employee moves to rival company and loss of the business. Whenever a well-trained and well-adapted employee leaves any organization, it creates a vacuum.The organization loses key skills, knowledge and business relationships, and it is not an easy task to find a sustainable substitute. Situation is worse when it happens at a critical (decision making) position, as there is a scarcity of such technical resources in the market. Attrition directly affects the company. Recruiting and training program for employees is an expensive affair. The company has to invest a lot while recruiting an employee. Attrition is a universal phenomenon and no industry is devoid of it, but the degree fluctuates from industry to industry.Major insurance companies in India are age-old and established, having their own culture and work practices and therefore, employee turnover will be a comm on phenomenon in such companies. Attrition is a serious issue in the insurance industry because the industry is knowledge-based and hence employees are its â€Å"assets†. Many HR experts believe that money, though a key factor, is not the only one which makes employees quit. Attrition also happens when people hate their working conditions, do not like their team-mates or perhaps do not like what they are doing.There are also cases when people leave their job for family reasons or when they wish to migrate. Experts also believe that organizational culture has a great impact on who stays and who goes. And the culture of an organization is determined by the quality of the relationship between bosses and their subordinates. According to a popular saying, employees never leave the company, they leave their bosses. An inefficient boss creates poor work culture, which is one of the frequent reasons for quitting. Employers often fail to understand the importance of providing opportun ities for development of their employees or their career growth.A conducive working atmosphere, good culture, training and career growth with adequate salary are some provisions that control attrition. Every employee comes to his organization with some aspiration. An organization is viewed as a place where employees meet their aspirations of growth and development, values of trust, teamwork and transparency. If a company respects them and their skills, realize their potential and provide them with a healthy environment to learn and grow with flexible compensation, employees take that as a strong reason to stay on.Recognizing the contribution of outstanding achievers also inspires others to try hard and put in their best. A good organizational behavior also focuses on areas like training, career development and believe in equipping workforce better on the professional front. Experts say that good organizational behavior is instrumental in extending the tenure of employees in the orga nization as it increases their self-esteem, confidence, morale and motivation. A substantial growth of employee’s self-esteem is as important as the concept of learning in the industry.Otherwise, experts fear that insurance organizations will meet a sorry fate as far as retention policies are concerned. Attrition is the Function of Demand and Supply The demand comes from the growth of the industry and the policy of the company. These two things decide whether there is a demand of fresher or experienced employees. On the other hand, the supply comes from the educational institutions and the market. Normally the supply from the educational institutions is enough to meet the demands of the insurance industry, there is a lack of experienced people in the industry, which in turn has created an imbalance.The imbalance is crucial to the growth of the industry. While the industry is growing, not all companies are capable of taking fresh people and groom them. Hence, the current statu s demands experienced people and shortage of skills or retaining existing employees pose an issue for the industry. In the current scenario, the demand of experienced and good employees is actually outstripping the supply. In such a situation, higher salary structures pose a major challenge in controlling attrition levels in the industry. Moreover, the salary growth plan is not well defined as well. All this encourages poaching by companies offering higher salaries.Though the salary is decided keeping in line with the market trends, the qualification, experience and the attitude of the individual matters. Salary or even increments are dependent very much on what kind of value adding the person is or will do in the organization. Besides, HR experts from the industry believe that out paying is not a winning tactic for companies. The organization’s reward strategy reflects its power to drive quality employees. Apart from salary, recognition of work is a healthy retention strateg y. If the organization values its employees, recognizes and appreciates their skills and work, it pays.It is important to keep an eye on fast track people who are intelligent and excellent performers. Performance is a primary requirement; therefore, excellent performers should be valued. They should be identified, nurtured and provided growth opportunity. HR's Role and Strategies in ICICI PRUDENTIAL LIFE INSURANCE CO. As the struggle for reducing employee attrition rates is intensifying, recruiters are putting renewed efforts in identifying talent, which is committed and productive. However, while everyone is competing for talent, in experts' opinion, a hiring spree can be a blunder sometimes.Stringent recruitment process could help reduce attrition to a certain extent. An internal referral mechanism is also very useful in reducing attrition rates in companies. A thorough analysis of a candidate's background or behavior pattern, adaptability or liking would help the organization wit h good resource pool and less attrition rates. Hiring slayers rather than stars is yet another strategy. According to experts, some of the most talented people often have the tendency to move on. The reason being their eagerness to climb by shifting from one company to another. Frequent job hoppers are not the ultimate gainers. They gain or earn only in terms of money but those who opt to work in one organization for long are able to learn and gain experience which pays in the long term,† An efficient HR focuses on creating a good work culture and work out different strategies in line with organizational philosophy. According to experts, HR managers must use the combination of growth, learning opportunity and pay attention to employees' personal needs and participation. The needs of the employees should be regularly gauged through open communication, polls and feedback mechanisms to maintain consistency in performance and high motivation levels.Insurance employers need to unde rstand the same and deal this issue on a war footing so as to avoid loss of good employees and, also the business. This brings to the issue of recruitment and selection. If these initial steps are flawless, it also helps in reducing the attrition. SIGNIFICANCE OF RECRUITMENT AND SELECTION PROCESS â€Å"Recruitment and selection refers to the chain and sequence of activities pertaining to recruitment and selection of employable candidates and job seekers for an organization†. Every enterprise, business, and entrepreneurial firm has some well defined employment and recruitment policies and hiring procedures.Importance of Recruitment is given below: Attract and encourage more and more candidates to apply in the organization. * Create a talent pool of candidates to enable the selection of best candidates for the organization. * Determine present and future requirements of the organization in conjunction with its personnel planning and job analysis activities. * Recruitment is the process which links the employers with the Increase the pool of job candidates at minimum cost. * Help increase the success rate of selection process by decreasing number of visibly under qualified or overqualified job applicants. Help reduce the probability that job applicants once recruited and selected will leave the organization only after a short period of time. * Meet the organizations legal and social obligations regarding the composition of its workforce. * Begin identifying and preparing potential job applicants who will be appropriate candidates. * Increase organization and individual effectiveness of various recruiting techniques and sources for all types of job applicants. Factors Governing Recruitment External Factors * Supply and demand * Unemployment rate * Labor market * Potential social Sons of soil * Image Internal Factors * Recruitment policy of the organization * Composition of temporary and part time employees. * Preference to local people even by multinational s as they understand local language. * Size of recruitment * Cost of recruiting Fig. 1: The General Recruitment Process 1. Identify vacancy 2. Prepare job description and person specification 3. Advertising the vacancy 4. Managing the response 5. Short-listing 6. Arrange interviews 7. Conducting interview and decision making. The recruitment process is immediately follow by the selection process i. . the final interviews and the decision making, conveying the decision and the appointment formalities. Recruitment and Selection are perhaps the most important tasks for an organization. Recruitment refers to the process of searching and appointing prospective candidates in an organization. An organization must undertake the recruitment procedure if it wants to appoint the right people under its employment. According to Edwin B. Flippo, â€Å"Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organization†. A process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected†. â€Å"Recruitment is the activity that links the employers and the jobseekers†. Sources of recruitment Why Does Organization Prefer Internal Sources? * Internal recruitment can be used as a technique of motivation. Suitability of internal candidate can be judged better than the external. * Candidates as â€Å"known devils are better than unknown angels†. Employee’s psychology needs can be met by providing an opportunity for advancement. * Employee’s economic needs can be met by providing an opportunity for advancement. * Cost of selection can be minimized. * Cost of training, induction, orientation, etc can be minimized. SELECTION PROCESS in ICICI PRUDENTIAL LIFE INSURANCE CO. The main objective of a selection procedur e is to determine whether an applicant meets the qualification for a specific job, and then to choose the applicant who is most likely to perform well in that job.The entire process of selection begins with an initial screening interview and concludes with a final employment decision. When a selection policy is formulated, organizational requirement like technical and professional dimensions are kept in mind. Selecting a suitable candidate can be the biggest challenge for any organization. According to Dale Yoder – â€Å"Selection is the process in which candidates for employment are divided into 2 classes – those who are to be offered employment and those who are not. † 1) Pre Interview Screening This is generally the starting point of any employee selection process.Pre Interview screening eliminates unqualified applicants and helps save time. Applications received from various sources are scrutinized and irrelevant ones are discarded. A preliminary Interview i s conducted. 2) Preliminary Interview The application of candidate whose screening is successful is found to be eligible for the preliminary interview which covers the personal as well professional details of the prospective candidate. 3) Final Interview This interview is formal in depth conversation conducted to evaluate applicant’s acceptability. 4) Medical ExaminationIf all goes well, then at this stage, a medical examination is conducted to make sure that the candidate enjoys sound health and does not suffer from any serious ailment. 5) Checking References Most application forms include a section that requires prospective candidates to put down names of a few references. References are contacted to get a feedback on the person in question including his behavior, skills, conduct etc. 6) Job Offer A candidate who clears all the steps is finally considered right for a particular job and is presented with the job offer. An applicant can be dropped at any given stage if consid ered unfit for the job.Only after successfully clearing all the hurdles, an applicant can enjoy the feeling of being selected for a particular job. 7) Induction Programme New entrants after joining are given induction programme. It helps the new employee to understand and develop a sense of identification with the company and he can clearly understand his job and will be able to perform his work in good manner. HR POLICIES AND PROCEDURE HR department deals with the management of human resources. It is responsible for the creation of harmonious working relations among the participants of the organization.It effectively deals with the process of planning, directing, developing, and utilization of human resources available to the company. Personnel department basically involved with the management of personnel or human resources. Personnel management is the planning, organizing, directing, and controlling the procurement, development, integration, maintenance and separation of the huma n resources to the end that individual, organizational and social objectives are accomplished. Recruitment Checklist of ICICI PRUDENTIAL LIFE INSURANCE CO. * Has the vacancy been agreed by the responsible HOD? Is there up-to-date job description? * What are the conditions of employment for their vacant positions? * Has a candidate specification been prepared? * Has the manpower requisition form been submitted earlier? * Has the job advertisement been agreed? * Have the interview arrangement been made? * Have unsuitable candidates held in reserved been informed? Explanation of Recruitment Process Steps in Recruitment process are as follows: 1) Requirement Gathering: Requirement gathering starts with the job description provided by the different department.The manpower requisition forms are provided by the HR department and then filled by the respected departments. Job description contains criteria such as qualification, professional experience, designation in the organization, urgenc y of manpower requirement in the organization. 2) Analysis of the Requirement: It is a clear requirement with a detailed explanation. A clear understanding enables a recruiter to provide a valuable manpower to the required department in terms of giving them a right candidate that matches up their requirement and to provide a candidate with good opportunity to sharpen his skills and achieve his personal goals. ) Sourcing of CVs: In order to find the relevant profile for the job, it is very essential to search the CVs. This can be done in following ways: * Casual application from local places. * Contacts through the present employees. * Data bank * Portals, such as Naukri. com * Former employee * Campus interview. 4) Screening of CVs: This is very important step. It decides whether the CV matches the job description given by the department head. In this step the recruiter has to study the following details in deep:- †¢ Date of birth †¢ Highest qualification †¢ Experienc e †¢ Skills †¢ Expected salary, etc. ) Arranging the interview: After screening the CVs, the interview schedule is scheduled by the recruiter. Once the schedule is fixed, candidates are called for interview. 6) At the time of interview: Candidate is given the personal data form to fill before the interview. Personal data form covers all the in depth information of candidate. Personal data form and resume attached to it is handed over to the interviewer before an interview. Then preliminary interview and final interview is conducted. 7) Medical Checkup: Selected candidates are sent to medical checkup with pre medical checkup form.The main objective of this test is to detect whether the applicant is physically fit to perform work or not and to protect the employer from worker compensation claims. 8) Reference Check: Reference check is made for an experienced candidate. Many employer request name, contact number, address of reference for verifying the additional background in formation of the candidate. 9) Documentation: After the reference check is positive, candidate is called for further procedure of documentation. After documentation the candidates are provided with offer letter. 10) Induction Programme:New entrants are given induction programme. It helps the new employee to develop the sense of identification with the company. The newly entrants is given information about the major products, departments and organization, key statistics. This helps the newly joined employees to understand their work in a better way. Criteria for Recruiting a Medical Representative A Check List 1. Age It is advisable to select them young, usually between 21 and 25 years. 2. Education Depending upon the level of technical knowledge required for promoting your products you can decide on this. 3. ExperienceIt may be advisable to select a fresh graduate with good scholastic record and extracurricular activities. Some companies prefer limited experience of a year or two in similar companies. In the case of an experienced candidate look for his accomplishment, tract record, etc. 4. Appearance A pleasing personality is always preferred. 5. Manners He / she should have good manners as he moves in a sophisticated highly educated class. 6. Voice and Expression There should be clarity of voice, modulation and grammar 7. Reactions Alertness, quickness of response. 8. Drive Ability to stimulate, enthuse others and self-assurance. . Intelligence Comprehension, reasoning ability, keenness and smartness is expected of him/her. 10. Interest Sincerity of ambitions and personal goals, interest in other people. CHAPTER – 3 RESEARCH METHODOLOGY The core concept underlying research is its methodology. The methodology controls the study, dictates the acquisition of the data, and arranges them in logical relationships, sets up a means of refining the raw data, contrives an approach so that the meanings that lie below the surface of those data become manifest, an d finally issue a conclusion or series of conclusions that lead to an expansion of knowledge.The entire process is a unified effort as well as an appreciation of its component parts. According to J. W. B. est, â€Å"Research is considered to be formal, systematic, intensive process of carrying on the scientific method of analysis. It involves a more systematic structure of investigation usually resulting in some sort of formal record of procedures and report of result or conclusions. † According to P. M. Cook, â€Å"Research is an honest, exhaustive, intelligent searching for facts and their meanings or implications with reference to a given problem.It is the process of arriving at dependable solutions to problem through planned and systematic collection, analysis and interpretation of data. The best research is that which is reliable, verifiable and exhaustive so that it provides information in which we have confidence. † 3. 1 Title of the Study: Recruitment and Attri tion Management 3. 2 Duration of the Project: 2 Months (25th June to 24th August) 3. 3 Objective of the study The objectives of the study are as follows: * To understand the concept and mechanism of insurance. * To have an overall view of the Recruitment Process in a leading private sector company. To get a firsthand knowledge as regards to the proper implementation of the extent Recruitment Policies in ICICI PRUDENTIAL LIFE INSURANCE and its preparedness to meet the new challenges in the area of Recruitment. * To review the Human Resource Policies of ICICI PRUDENTIAL LIFE INSURANCE and compare with them Human Resource philosophy given in the literature. * To observe any legal requirement which apply to the recruitment and selection process. * To get familiar with the organization. * Getting practical experience regarding the organizational function. To learn about the policies and functions of the organization. * To understand the culture in the organization and its effect on emplo yees. * To get industrial exposure and experience. 3. 4 Type of the Research To get complete knowledge about the recruitment and selection activities information are gathered on the basis of both primary and secondary sources. PRIMARY DATA : Primary data are those which are a fresh and for the first time and thus happen to be original in character. Primary data were collected by direct interview with the authorities and staffs and by observation and participation.SECONDARY DATA : Secondary data are those which have already been collected by someone else and which have been passed through the statistical process. Secondary data were collected from various records kept in departments, company profiles, magazines and websites. 3. 5 Sample size and Method of selecting sample SAMPLING SIZE: 100 It means how many people to survey. SAMPLING UNIT: The researcher must define the target population that will be surveyed the sampling unit for my survey is wholesalers, retailers, masons, contrac tor and consumer of Rajasthan State.SAMPLING PROCEDURE: RANDOM SAMPLING Due to the time limitation and lack of sufficient knowledge I confined my study till random sampling. 3. 6 Scope of the Study Recruitment is the process of searching for prospective employees and stimulating them to apply for job in the organization. Recruitment is a positive process of searching for prospective employees, whereas selection is a negative process because it involves rejection of unsuitable candidates. Today the scope of the recruitment is very broad. The scope of the recruitment at ICICI PRUDENTIAL LIFE INSURANCE CO. enerally covers the following steps: – * Enhancement of productivity. * Quality manpower. * Committed job assignment. * Development of teamwork. * Better utilization of existing manpower 3. 7 Limitation of the Study The present research work is undertaken to maximize objectivity and minimize the errors. However, there are certain limitations of the study, which are to be taken in to consideration for the present research work. * The study was conducted only for the performance of Insurance advisors, Adayar branch Chennai city. It may not be suitable for other organizational employees. The advisor’s behavior may not be same in other branches in Chennai city or country, because of the difference in their performance, target, motivation, attitude, approaches with customers, culture, and working environment etc. * The research was done based on the details provided by the 70 advisors; the conclusion derived may not be wholly applicable to all branches in the city. The study is conducted with the help of the database provided by the Unit manager. * As the target population is large and due to the time constraint, convenience sampling technique was used to select the respondent. Chapter-4 FACTS AND FINDINGS Majority of the respondents believed that larger risk coverage of their policy was the main feature that attracted them to buy that policy, low prem ium was the next important feature. * ICICI Prudential is the largest private player in the insurance  industry in India. * Due to the increasing concern of people towards their health/life the life insurance  business has good prospects. * There are few short term plans which are not known to the  public. * Company has high policy charges which are not affordable by the lower middle and lower class people. * Out of total population of 1 billion of country, only 22% have insurance cover.So we can say that there is still large potential for both the public and private companies. Private companies have to give varied customized product to compete with the LIC which is holding about 97% of the total market. CHAPTER-5 ANALYSIS AND INTERPRETATION 1. What is the biggest benefit of life insurance? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Security| 40| 80| 2| commission| 5| 10| 3| Protection of wealth| 5| 10| 4| all| 0| 0| total| | 50| 100| Analysis: Interpretation: The ab ove graph shows that the biggest benefit of life insurance is security with 80% and the next two shows the equal % that is 10% benefit ) Is there any performance incentives? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| yes| 47| 94| 2| no| 3| 6| total| | 50| 100| Analysis: Interpretation: The above graph shows the performance incentives are 100% given in the company. 3) How do you recruit employees in ICICI PRUDENTIAL LIFE INSURANCE CO.? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| References| 3| 6| 2| Advertisements| 5| 10| 3| Consultancy| 35| 70| 4| Walk-ins| 7| 14| total| | 50| 100| ANALYSIS: INTERPRETATION: The hiring process in this company is done by consultancy of 35 respondents and next is through walk-ins. ) How frequently you recruit employees? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 6 months| 5| 10| 2| 1 year| 0| 0| 3| 3 months| 5| 10| 4| Every month| 40| 80| total| | 50| 100| ANALYSIS: INTERPRETATION: In this company the employees are recruite d frequently for every month for this the respondents are 80%, after this 3 months and 6 months are 20%. 5) What is the range on scale of getting maximum ; good quality profiles? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Average| 35| 70| 2| Good | 10| 20| 3| Very good| 5| 10| 4| excellent| 0| 0| total| | 50| 100|ANALYSIS: INTERPRETATION: The above graph shows that the range of getting good quality profiles are average are 70%,and good are 20% and very good is shown by 10%. So no excellent are there. 6) Under what criteria do you consider while screening the profile? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Age | 5| 10| 2| Qualification| 7| 14| 3| Work experience| 38| 76| 4| References if any| 0| 0| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows while screening the profile work experience is given more importance by 76%, and next by qualification by 14%. ) What is the % of candidates who clear the aptitude test? SL. NO| RESPONSE| NO OF RESPON DENTS| PECENTAGE %| 1| 100| 0| 0| 2| 70| 10| 20| 3| 80| 35| 70| 4| 50| 5| 10| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows the % of 70% of the candidates clear the aptitude test. 8) Do you normally provide training skill development to new recruits? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| yes| 42| 84| 2| no| 8| 16| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows the training provided to new recruits is yes by 84% and no by 16%.So training is provided to some extent. 9) How many steps include in selection process? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 5| 7| 14| 2| 6| 0| 0| 3| 8| 0| 0| 4| 4| 43| 86| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows the selection processes include mostly 4 and sometimes 5 in this it show 86% include 4 steps. 10) After selection of candidates what is the time for offer release? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Same day| 0| 0| 2| 3-5 days| 37| 74| 3| 1- 2 days| 10| 20| 4| 7 days| 3| 6| total| | 50| 100| ANALYSIS: INTERPRETATION:The above graph shows after selection the offer letter is given to the selected candidate in 3-5 days and if the candidate is good then 1-2 days 11) What is the employment rate in ICICI PRUDENTIAL LIFE INSURANCE in a year? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 70 | 5| 10| 2| 80| 35| 70| 3| 90| 10| 20| 4| 100| 0| 0| total| | 50| 100| Analysis: INTERPRETATION: The above graph shows the employment rate in ICICI PRUDENTIAL LIFE INSURANE is 70% in a year and 35 are accepted. 12) What is the experience required for HR position in ICICI PRUDENTIAL LIFE INSURANCE? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| | 3 years| 5| 10| 2| 4 years| 15| 30| 3| 2 years| 0| 0| 4| 5 years| 30| 60| total| | 50| 100| ANALYSIS: INTERPRETATION: The experience required for HR position in ICICI PRUDENTIAL LIFE INSURANCE CO. is 5 years and accepted by 30 members. 13) What is attrition rate in ICICI PRUDENTIAL LIFE INS URANCE? (No. of employees leaving the company in a year) SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 50| 40| 80| 2| 60| 10| 20| 3| 80| 0| 0| 4| 30| 0| 0| total| | 50| 100| ANALYSIS: INTERPRETATION: The attrition rate in ICICI PRUDENTIAL LIFE INSURANCE is 50%, and accepted by 40 members. CHAPTER-6 SWOT ANALYSIS S.W. O. T Analysis of ICICI Prudential Life Insurance: Strength: * ICICI Prudential is one of the largest financial institutions of India. * Money power, which makes them ignorant about the gestation period. * Motivation factors provided by the Company. * Service quality, which is the crux of their mission. * A huge data base of corporate clients, retail customer, and bank customersof ICICI. * Highest paid up capital deposited  in IRDA, in comparison to all players. * Training provided to all people associating with ICICI Prudential. Weakness: * High targets for financial advisors and for the sales  departments. Many competitors in the market offer same product by the title difference in the premium and offerings. * Very huge premium of policies. * Problematic to advisors also. * Sustainable to risk associated with investments in money market. Opportunities: * Health insurance and pension schemes, an estimated market potential of  approximately $15 billion. * Tie up with more corporate agents all over India. And Tie up with broker  (agent) also. * Strong brand of company helps  to boost sales in market. * Attract more people of providing customer centric products. Threats: * Players like Bajaj and Birla Sun  life with low premium for the similar  plans. People are not aware of different distribution channels. * Threat from existing insurance players. * Threat from new entrants. * Changes in the policy of IRDA. CHAPTER-7 CONCLUSION Over the last few decades companies have increasingly begun to realize the importance of customer satisfaction. Where trading environments have become saturated and customers increasingly hard to come by, customer retention has become imperative as the customer-to-business level in the Indian context; the disconfirmation paradigm is still the predominant paradigm influencing the customer satisfaction process.As it is pivotal in this competitive era of globalization as every player in this banking industry is making various efforts to increase its pie share or if no increase at least maintains their market share. In relation to the primary research analysis undertook by me, inference can be portrayed that people are incline towards the LIC as they find them more reliable and they also prefer because of their long term relationship with the customer segment. So last we can say that for the insurance sector to succeed they must pay close attention to the revealed choice criteria of the customer in their decision making activity.Therefore customer relationship management programs must be designed to keep the customers intact that includes aligning product and service offerings with cust omer needs can only be achieved when sufficient knowledge of customer requirement has been captured. Thus accurately understanding the customer’s need is the most important step towards achieving customer satisfaction. CHAPTER-8 RECOMMENDATION AND SUGGESTON There are some recommendations: Open some more branches in semi urban and rural area: ICICI Prudential has almost its branches in urban area or  metros. So in order to increase the no. f customer, ICICI Prudential should increase the approach towards potential customers. For that it has to increase the branches in the semi urban cities like C, D grade  cities. And the rural marketing is the best option for  ICICI Prudential to increase its base in the market. Improve customer services: In order to take the advantage of being industry leader in private sector, ICICI Prudential has to improve its customer services. According to my experience in the company, a good number of customers forget to pay their premium at time so it causes a big loss to the company.ICICI Prudential has already collaborated with the ICICI bank for its Banc assurance facility and then  can include another feature in it. ICICI bank can offer a bank  account with the life insurance policy in which an ATM card will be  provided. This card will have  all the information regarding the policy as like future premium payment dates, payment made, money value of  the policy at that date, value of the unit linked plan and  all other information what the customer want. This will help the customer to pay premium on  time and save their losses.This will be mutually helpful for both sister companies, ICICI bank  will get new account and  ICICI prudential will be able to more efficient services to their customers. Bring some unit linked life insurance plans in the market. Being a market leader doesn’t ensure the leadership in the future. Since after  increment in FDI from 26% to 49%  all player will have the o pportunity to capture the market share. So in order to maintain its position ICICI Prudential should-Introduce some new market linked insurance plan, which will give a competitive advantage to the ICICI Prudential against its competitors.Trained the financial advisors more efficiently: In the changed scenario, more  efficient training will be needed, so ICICI Prudential should provide good and efficient training to their financial advisors. Because they are the one  who interact directly with the customers. So good training will give them the right way to deal  with the potential customers. Suggestions * LIC ; ICICI Prudential should work upon building good reputation of its brand as good reputation has direct effect on purchase of insurance product. LIC ; ICICI Prudential should work upon raising the awareness of the product and give more option and provide transparency so as to make selling of its product easier. * Advertising of the insurance product should stress on the ne ed of security. * Insurance should be popularized as the means of securing future rather than saving tax. * Policies should be issued quickly and with less formality. * Other services should be provided. * Reference group are the most effective medium of advertising insurance. CHAPTER-9 APPENDIX QUESTIONNAIRE 1. What is the biggest benefit of life insurance?A) Security B) commission C) protection of wealth D) all 2. Is there any performance incentives? A) Yes B) No 3. How frequently you recruit employees? A) 6 months B) 1 Year C) 3 months D) Every month 4. How do you recruit them? A) References B) Advertisements C) Consultancy D) Walk-ins 5. What is the range on scale of getting maximum ; good quality profiles? A) Average B) Good C) Very Good D) Excellent 6. Under what criteria do you consider while screening profile? A) Age B) Qualification C) Work Experience D) References if any 7.What is the % of candidates who clear the aptitude test? A) 10% B) 20% C) 30% D) 50% 8. Do you normal ly provide training skill development to new recruits? A) Yes B) No 9. If yes do you send your employees for external training? A) Training institutes B) workshops C) seminars D) none 10. How many steps include selection steps? A) 5 B) 6 C) 8 D) 4 11. On what skill sets candidates are selected in ICICI PRUDENTIAL LIFE INSURANCE CO.? A) Qualifications B) Capabilities C) Soft skills D) All the above 12. After selection of candidates what is the time for offer release?A) Same day B) 3-5 days C) 1-2 days D) 7 days 13. How do you evaluate a candidate in his/her HR interview? A) Aptitude B) Qualification C) Communication skills D) All 14. What is the experience required for HR position in ICICI PRUDENTIAL LIFE INSURANCE CO.? A) 3 Years B) 4 Years C) 2 Years D) 5 Years 15. What is the attrition rate in ICICI PRUDENTIAL LIFE INSURANCE CO? (Number of employees leaving the company in a year) A) 30% B) 40% C) 20% D) 10% 16. What are the top reasons for any improvement in attrition? Ans. 1. Ski lls Development 2. Communication 3. Promotion/Progress . Management Style 5. Work-Life Balance CHAPTER-10 BIBILOGRAPHY 1. ICFAI Human Resource Management – ICFAI University Press. 2. Gary Dessler, Human Resource Management- PHI Pvt. Ltd. , 2005. 3. G. C. Beri, Marketing Research- Tata McGraw-Hill Publishing Company Limited 4. Udai Parrek and T. Venkateshwara Rao, Designing and Managing Human Resource system, Oxford ; IBH publishing co. Pvt. Ltd. , 2003. 5. K. Aswathappa, Human Resource and Personnel Management, Tata McGraw-Hill Publishing Company Limited, 2005. * http://www. iciciprulife. com * http://www. google. com * http://www. wikipedia. com

Milk Powder in China Essay

Firstly, the customers of Milk powder market in China can be devided in to three parts.Which are high income, working-class,and low income. In China now, most of young parents pay most of their attention to children’s health. They often look foreign goods like food and clothes for children. but not everyone has ablity As mentioned above, our milk powder will be easily accepted by the young parents who are highly educated, and have high income due to its high quanlity and the suitble for asian babies in demographics. In psychographics, as we know, resently, most of Chinese milk powder has been checked out Melamine that can lead to kidney stones. Young parents have lost confidence in the manufacturing of milk powder. More and more people try to purchase foreign milk powder for baby no matter how expensive it is. But most of them buy it from internet by someone who can buy the powder derectly in the country of origin, it will pay lots attention and more money. This is a reminder that we can use this mind to develop our Chinese market. In the past , most Chinese parents buy milk powder which was advertised well, they thought the products that film star recommended would be high quantity. Facts had proved that it would not work. People have lost their confidence on advertisment. It is a problem for us how to promote our milk powder. If we over- used advertisement, it may cause resentment from parents. Some other people will buy milk powder which is recommended by friends or experts from China and other countries. According to the above analysis. We can use concentrated global marketing srtategy. As have related we must use single marketing mix to suit the customer Our milk powder is expensive, not everyone has ability r to bear the expense. So our customer groups is who have high income and highly educated and think baby’s health is the most important thing they have concerned. This part will have little family of hostility, at least they will firstly consider the needs of their baby.

Free Essays on The Shining

The Shining Have you ever been so frightened of someone or something that it controls your thoughts and actions? When I was a small child, this â€Å"something† was the movie â€Å"The Shining†. With the director’s used of good actors and actresses, a vivid story line, and terrifying special effects, this movie frightens children, as well as adults alike. As the story unfolds, the main characters are a family of a father, mother, and young son. They have to stay in a huge hotel as caretakers, snowed in for the winter months. The father, Jack Torrance, can’t take the solidarity and ends up going crazy. His son, Danny, is also noticing dead people living in the house as ghosts. He has a special â€Å"sense† and only he can see and talk to these spirit people. These ghosts soon possess the child and his mother, Wendy, must shake him out of his trances. Jack becomes psycho at the end and attempts to kill his wife and son to live in the hotel with the spirits of the once living. When they arrived at the scary hotel, just the sight of it made my insides hurt. Large, empty hotels are very scary to me now. As the young boy wanders throughout the hotel, he stops and talks to these mysterious dead people that once inhabited the hotel. He was advised at the very beginning to stay out of room number 217. The child is led, of course, down the corridors to this room by spirit children every chance they could get. Since I was a child, this scared me because they were my age. The horrors in that hotel room are what scarred my abilities to take showers or be alone as a child. In this terrible, forbidden room, as the boy entered it, the floor was wet. The dead woman in the bathtub that attempts to strangle poor Danny has special effects makeup that is incredible. When Danny and Wendy are trying to escape the murderous Jack, I was terrified to see a wave of blood spew from the elevator. Everything looked and sounded believable in this movie; a key fa... Free Essays on The Shining Free Essays on The Shining The Shining Have you ever been so frightened of someone or something that it controls your thoughts and actions? When I was a small child, this â€Å"something† was the movie â€Å"The Shining†. With the director’s used of good actors and actresses, a vivid story line, and terrifying special effects, this movie frightens children, as well as adults alike. As the story unfolds, the main characters are a family of a father, mother, and young son. They have to stay in a huge hotel as caretakers, snowed in for the winter months. The father, Jack Torrance, can’t take the solidarity and ends up going crazy. His son, Danny, is also noticing dead people living in the house as ghosts. He has a special â€Å"sense† and only he can see and talk to these spirit people. These ghosts soon possess the child and his mother, Wendy, must shake him out of his trances. Jack becomes psycho at the end and attempts to kill his wife and son to live in the hotel with the spirits of the once living. When they arrived at the scary hotel, just the sight of it made my insides hurt. Large, empty hotels are very scary to me now. As the young boy wanders throughout the hotel, he stops and talks to these mysterious dead people that once inhabited the hotel. He was advised at the very beginning to stay out of room number 217. The child is led, of course, down the corridors to this room by spirit children every chance they could get. Since I was a child, this scared me because they were my age. The horrors in that hotel room are what scarred my abilities to take showers or be alone as a child. In this terrible, forbidden room, as the boy entered it, the floor was wet. The dead woman in the bathtub that attempts to strangle poor Danny has special effects makeup that is incredible. When Danny and Wendy are trying to escape the murderous Jack, I was terrified to see a wave of blood spew from the elevator. Everything looked and sounded believable in this movie; a key fa...

Elizabeth Arden essays

Elizabeth Arden essays Elizabeth Arden, formally known as Florence Nightingale, changed her name in 1909 with the introduction of her first shop selling facial creams. She began as a normal working girl, taking different odd jobs here and there. Then she was introduced into the cosmetic world by Eleanor Adair, who hired Arden on as a clerical consultant at her London firm in Saks Fifth Ave. There, Arden learned to give facial treatments and studied the basic formulas of make-up, which allowed her the basic knowledge to open her own cosmetics shop. With partner Elizabeth Hubbard the shop flourished, they had a winning product with their own Elizabeth Arden's youthful complexion to advertise it. Later when Hubbard died Arden took over the company to own and manage with only a group of advisees, which she seldom listened to. Elizabeth Arden was an astute businesswoman who not only focused on what the company already had but what it could have. Therefore, she spent much of her time perfecting current products and creating new and innovative products. Her downfalls though were her violent temper, she was a very demanding and difficult employer who easily blew up at hr employees and was often too proud and arrogant to apologize. In 1904, Arden began her career in cosmetics working at the Eleanor Adair shop. Later in 1909, she opened her own shop and facial cream line. In 1914, at a time when women scorned make-up and women who did wear it were gossiped about terribly, Arden opened a new cosmetic line. Where many others had failed in the past, her products and advertising changed the way women viewed makeup forever. In 1940, she began designing and selling clothing. In addition, by 1957 she owned over 150 Elizabeth Arden Salon branches that sold anything from make-up to face cream to clothing. I became interested in writing a report on Elizabeth Arden because I really love make-up, especially Elizabeth Arden and ...

5 Uses of Infinitives

5 Uses of Infinitives 5 Uses of Infinitives 5 Uses of Infinitives By Mark Nichol An infinitive is a phrase, consisting of the word to and the basic form of a verb, that functions as a noun, an adjective, or an adverb. Here’s a discussion of the five types of infinitives. 1. Subject An infinitive can constitute the subject of a sentence. For example, in â€Å"To go, even after all that trouble, didn’t seem worthwhile anymore,† â€Å"to go† is the action that drives the sentence. 2. Direct Object In the sentence â€Å"We all want to see,† â€Å"to see† is the direct object, the noun (or noun substitute) that receives the action of the verb. â€Å"To see† refers to a thing being done or, in this case, desired to be done: the act of seeing. 3. Subject Complement In â€Å"My goal is to write,† â€Å"to write† is the subject complement. A subject complement looks just like a direct object, but the difference is in the type of verb preceding it. The verb in the previous example, want, is a transitive verb. (Transitive verbs have two defining characteristics: They precede a direct object, and they express an action.) In â€Å"My goal is to write,† the verb is a copular, or linking, verb one that links a subject to a word or phrase that complements it. (In this sentence, â€Å"to write† is the goal, so it’s the complement of goal. Note that in the previous example, â€Å"to see† is what those referred to as we want, but it’s not the complement of we.) 4. Adjective In â€Å"She didn’t have permission to go,† â€Å"to go† modifies permission it describes what type of permission is being discussed so the phrase serves as an adjective. 5. Adverb In â€Å"He took the psychology class to try to understand human behavior,† â€Å"to understand (human behavior)† explains why the taking of the class occurred, so it’s an adverb modifying the verb took. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:Compared "to" or Compared "with"?Rules for Capitalization in Titles20 Criminal Terms You Should Know

Prepare a Strategic Plan Term Paper Example | Topics and Well Written Essays - 1750 words

Prepare a Strategic Plan - Term Paper Example Hence, considering the current scenario of the business environment, it is important for every company to carry out strategic planning before functioning in the market place. In this paper, the strategic planning process of Vodafone will be presented. This project is not only aimed at studying the existing strategic planning of Vodafone, but the aim is also to formulate a strategic plan for the business to grow over the next three years. The company chosen for this assignment is Vodafone. Thus, a brief overview of Vodafone, prior to recommending the strategic plan for the forthcoming years, will be important. This will enable the readers to gather better understanding of the scenario. Vodafone Group PLC, commonly known as Vodafone, is a UK based global telecommunication firm. The company had started its operation from 1991 and before that, Vodafone used to function as Racal Telecom. Vodafone has its registered office at Newbury, Berkshire and is headquartered at London, UK. The company is adjudged as the third largest telecommunication company of the world, in terms of revenue and number of subscribers. The global telecommunication industry is led by China Mobile with a staggering 453 million subscribers (Vodafone, 2013). At present, the company operates in more than 21 countries and has licensed partners in 40 other countries. It is noticed that the Vodafone Global Enterprise division alone offers IT and telecommunication services catering to corporate clients in more than 65 countries of the world. The total employee strength of the company is 91,272. The company is listed at London Stock Exchange and is a London Stock Exchange constituent. In the financial yea r 2012-13, the company has earned revenue of  £44.445 billion and made a profit of  £429 million (Vodafone, 2013). Some of the important products of the company, apart from core service offerings (telecommunication and IT services), are Vodafone Mobile Connect USB Modem,

Short and Medium-Term Loan in the UAE Policies and Procedures Research Paper

Short and Medium-Term Loan in the UAE Policies and Procedures - Research Paper Example The financial institute considered for the purpose of this report is HSBC Bank Middle East Ltd. This bank for the purpose of granting the loan to the company shall make a complete review of the financial position of the company. The financial analysis would include a cash flow analysis, analysis of the various ratios like profitability ratio, liquidity ratio and gearing ratio, an analysis by the long-term creditor and examination of the collateral securities that the company has to offer to the bank for the loan purpose. The cash flow analysis flashes a detailed view of the inflow and outflow of cash into and from the business respectively. Pertaining to the income statement the operating cash flow shows the increase and decrease in cash. The cash flow showing the investments depicts the increase and decrease in assets. The various kinds of ratios are studied thoroughly to bring out the actual position of the company. The ratios that are studied, contributes to knowing the various as sets and liabilities and their impact individually and as a whole on the business unit. The various ratios studied are profitability ratio, liquidity ratio, and leverage ratio. The analyses of these ratios provide a clear picture of not only the company’s assets and liabilities but also forecasts possible profits and losses of the enterprise. The various provisions provided by HSBC Bank Middle East Ltd. are studied and the various kinds of loan that this bank has for its customers are also keenly observed. According to the requirements of an individual or a business customer, loans may be chosen by the customer from the bank. The processes and procedures involved in obtaining the loan are closely observed and recommended accordingly. The business environment of UAE and the various provisions for the foreign investors are enumerated in details. The various aspects that UAE takes a heed of apart from facilitating business activities in the country are also keenly studied. The f acility of free zone is largely talked about including its advantages and also the various barriers that a foreign investor may face in UAE are discussed. The advantages of local rather Emirati–owned business unit over the foreign investors are also included in the discussion. Table of Contents Executive Summary 2 The Nature and Purpose of Loan Requested By the Customer 6 Bank’s Policy In Terms of Granting Loans 7 Types and Nature of Financial Information the Customers Are Required To Furnish To Support the Purpose of the Loan 10 Types of Analysis the Banks Usually Do 11 Types and Nature of Security the Bank Usually Ask For 14 Impact of the Most Recent Downturns of the Economy and Massive Business Failures of HSBC Bank Middle East 15 Bank’s Specialization on Handling Such Loans 16 Any Government Incentive And Or Support the Banks Receive In Handling Such Loans 17 UAE’s Business Environment Facilitating Emirati-Owned Businesses 17 Conclusion 19 References 21 Introduction The lending institutions are generally seen to offer loans for different periods based on the purpose of the loan, such as short–term, long–term, and medium–term. In the context of business, the short-term loans that are offered by the banks are usually to curb the needs of working capital of the business. These working capital needs of a company may range from raw materials purchase, electricity bills to be paid and payment of taxes among others.  Ã‚  

Ethical and Legal Issues Assignment Example | Topics and Well Written Essays - 500 words

Ethical and Legal Issues - Assignment Example It is also extremely costly for the employers (Mujtaba, 2003). It is ethically sound to monitor employee’s computer activity. Most of the research done has devoted most of its time in making technological advancements, which create an efficient workplace. These advancements have revolutionized the manner in which work is carried out and the way in which employees can enhance their productivity while at work. However, these advancements have opened new opportunities and avenues for employees to misbehave. The emerging technologies have resulted in the loss of privacy. Technology has made it possible for massive volumes of data to be accessed by businesses and their employees. Employers are concerned with the misuse of information by all stakeholders of the business. Therefore, there is a need for the business to incorporate ethics training and polices in areas where information technology is present (Mujtaba, 2003). Like the workplace telephones, workplace computers and connections to internet and email systems belong to the employer and not the employee. The company has the power to set standards for the use of the equipment in the company. This is because there is some harm that can occur if there are no clear set guidelines on how the equipment should be used. An employee can misuse the company computer systems (inadvertent or advertent). For instance, companies in a quiet period before the issuance of stock are not permitted to communicate certain forms of information. When an employee sends an email, he or she can easily infringe this prohibition and therefore, instigating a company violation of Securities and Exchange Commission rules. This is just one of the harm that can lead to serious problems for the company (Gilbert, 2012). For the jewelry company, human resource policies be formulated. This is because the policies are continuing guidelines on the approach in which the organization

The economic and environmental factors affecting USTs operations Coursework

The economic and environmental factors affecting USTs operations - Coursework Example The firm that is analyzed in the paper is UST Inc. UST Inc is involved in the manufacture of tobacco products which continue to be one of the oldest and most profitable industries. This fact has been borne out not only in the ratios but the fact that the company has been identified as the most profitable company in the United States by one of the most trusted sources – Forbes. The financial results speak to this fact. However, as in any industry there is competition and what has been happening is that even though the market is growing by 3.7% per annum UST has not been able to grow with it. This is due to the fact that the company has not been responding appropriately to the threats posed by its competitors. However, there are some environmental factors that have been affecting the company and so UST needs to answer these and other questions including: †¢ What environmental factors affect the operations of UST’s business? †¢ What business risks does the company face, †¢ Can the company undertake the recapitalisation process effectively? †¢ Why is UST considering recapitalisation and what would be the incremental effect on the company’s value? †¢ What other factors beyond interest rate shields should UST consider in assessing the value of its recapitalisation plan? The environmental factors include political/legal, economic, and social issues. In addition to industry factors these affect every business and should therefore be given due consideration. In terms of the political/legal aspects the tobacco industry has been faced with tough regulations. These have had a negative impact on the cigarette industry but much less on the moist smokeless tobacco. However, and restrictions have had a negative impact on the prospects for future growth in the industry. While being saddled with a $100 to $200 million over the next 10 years in payment as settlement in keeping with an agreement arrived at with Medicaid the company also face restrictions on its advertising and promotional campaign which is aimed at reducing the exposure of the youth population to tobacco products. Additionally, UST has a few litigations pending which is the nature of this industry. However, the smokeless tobacco industry has a much lower exposure to health related law-suits. The Medicaid settlement signifies a reduction in net income which cannot be recouped at this time when UST’s market share is declining. In terms of the economic issues although consumption has been increasing UST’s market share has been declining. The growth that has been exper ienced appears to be going to the company’s competitors. UST has a track record of growth and innovation but this has not been the case in recent times. The company is used to the practice of annual price increases – sometimes even twice per year but the competition will definitely prevent the company from doing so for most of its brands. This trend of increasing prices has been somewhat abated by the introduction of price-value brands by the company’s competitors. Although UST is large in comparison to its competitors and has a major share of the market the company has not responded the way that investors and analysts would like and so they are doubtful as to whether UST has not been able to respond in a timely and appropriate manner in order to regain its market share. Additionally, the resignation of the company’s chief financial officer (CFO) and the Director of Tobacco in 1997 is a signal to investors that something is fundamentally wrong on terms of both the companies manufacturing operations and its financial management which are two key areas. These are key persons within the company and who obviously would have impacted the company’s financial results. Like most other companies that are engaged in the production of goods the aim is to have products at each stage of the product lifecycle and to have products that will appeal to different groups.

The cause(s) of the Civil War Research Paper Example | Topics and Well Written Essays - 1000 words

The cause(s) of the Civil War - Research Paper Example This meant a reduction in human labor. On the hand, cotton became very profitable, and many of the southern agricultural areas shifted from other crops to cotton farming, almost making the states a one crop economy, and thus requiring a lot of cheap human labor to meet the great demand and to maximize on profits. This cheap labor was readily available to the landowners in the south in the form of slaves while the north did not require them due to industrialization.2 These differences made the two areas to assume different economic ways of life, with the northern economy becoming city based while the southern continued to be plantation based. This meant that the people in the north evolved into a culture where people of different cultures could work together while those in the south continued to hold unto slavery since they needed the slave labor. The people in the north started to condemn slavery as immoral while the south embraced the same due to their need of massive slave labor, c ausing friction between the north and south. The political leaders of the southern states such as Robert Barnwell and William Lowndes realized that if the slave ownership was abolished in the south, then the southern economy would probably collapse if the slaves were to be paid the high wages that white workers were being paid and thus, they vehemently opposed the idea. Leaders in the north, some of whom were also religious personalities or newspaper personalities opposed the idea of slave ownership on the grounds of morality. Some of these personalities were like William L Garrison who was powerful crusaders for the abolition of the practice. The other issue that was instrumental in causing the civil war was the States versus federal Government’s rights issue. From the time of the American Revolution while states sought autonomy, there emerged two sides, one that advocated for states to have greater rights and the other that the federal government be granted more control.3 T hose that felt that the states should have greater rights like Thomas Jefferson and others agitated for the idea, resulting into the nullification idea, where the states sought to be allowed to have the rights to rule some federal acts unconstitutional. The federal government refused to cede to this demand, which led to the cessation of 11 states from the union of the states leading into the war.4 There also was the fighting between states that approved slavery and those who did not in newly acquired lands as one of the causes of the war. America started to expand after the Louisiana Purchase whereby America purchased 800000 square miles of land at a cost of 15million dollars during the tenure of former president Thomas Jefferson, and also after the Mexican war.5 There arose conflict after this as to whether the new areas admitted to the union, would have slavery or would be granted freedom. Problems arose, for example, when those who advocated for slavery in Missouri known as †Å"border Ruffians† started to come into the state to assist in forcing the state to become a slavery zone. Conflict also occurred in Kansas which made the place be called â€Å"bleeding Kansas† because of the magnitude of the bloodshed in the quest to have this area embrace slavery. The fighting