The Legal Approach Of The American Constitution - 889 Words

The Legal Approach: This approach is very tricky to control the president, and therefore, it is very important to block and prevent any tyrannical regime because it is all about laws and legislatures. In here, the American constitution is very important and leads the way. It shows that how the constitution plays a role in presidency. Through this, the significant advantage of this approach is that the president and his or her presidency is controlled by the constitution, laws, legal precedents and customs. The legal approach limits the power of the president, and put some boundaries of the presidential warrant, reach and powers to prevent any tyrannical kind of regimes. This approach also determines that how a president uses his or her authority with other branches of the federal government, such as judiciary, the congress and bureaucracy. The Institutional Approach: The Institutional Approach is a traditional old and significant one that affects the attitudes of the president towards the institution of the presidency. Because of this, this approach deals with legislature, executive, judiciary, political parties, interest groups, and the president himself/herself. â€Å"The presidential institution exists to handle three sets of responsibilities, regardless of who is president: policy issues, political targets, and the daily workload† (Nelson, year, 41). Of course, the presidency as an institution is very important. Also, a president plays an important role in this institution.Show MoreRelatedThe Debate On Constitutional Interpretation1730 Words   |  7 PagesThe debate on Constitutional interpretation is far from a new one. For years, the argument over how the Constitution should be read has varied, from the strict textualist approach to the most lenient, the instrumentalist position. The Constitution has lon g been referred to in terms of being a living or dead document, and its interpretation has significant ramifications on this country’s legal climate. This paper will analyze and compare two different forms of Constitutional interpretation: originalismRead MoreA Biographical Report on Justice Antonin Scalia and the Effect of His Decisions1195 Words   |  5 Pagesarticulate, forceful, cynical, irreverent and sometimes scathing aptly describes Antonin Scalia. Esteemed to be the only son of S. Eugene and Catherine Scalia, born in Trenton, New Jersey and raised in Queens, New York, Antonin Scalia is the first American of Italian heritage to serve on the United States Supreme Court. A graduated valedictorian of St Francis Xavier, a military prep school in Manhattan, New York, Scalia was soon to reach the pinnacle of his academic life as a student when heRead MoreRole And Functions Essay875 Words   |  4 Pagesof the judiciary are to (1) apply rules of law and principles of equity equally to settle cases and controversies, and (2) review the decisions of trial courts and the actions of the other branches of government to ensure they comply with existing legal and constitutional requirements.† (V.S.P. Melvin, McGraw-Hill Company, 2011) The court system effects businesses in and consumers in various ways; it can protect the consumer from being taken advantage of by a business weather it is providing a serviceRead MoreThe First Year Of The Magna783 Words   |  4 Pagesa written constitution has resurfaced, paving way for contrasting arguments relating to the need for modernisation in the 21st century, against the need to retain tradition. It must be m entioned that for the purposes of this discussion the term ‘unwritten’ is in the context that the UK constitution is not recorded onto a single codified document. While not presented onto a single document the constitution is ’written’, and as appropriately stated by Lord Scarman ‘today our constitution is not â€Å"unwritten†Read MoreThe Power Of A Society s Justice System1581 Words   |  7 Pages The supreme law of the United States of America may be codified within its Constitution, but its strength derives from the process of internalizing and reflecting its values. Values embedded within the Constitution, like freedom and equality, are perpetuated through institutions which then surpass paper and imprint onto the hearts and minds of the people, creating a shared understanding of social mores. In the American context, the Supreme Court serves as the leading government institution of theRead MoreThe Role Of Legal Rules On Judicial Decisi on Making1621 Words   |  7 PagesThe role of legal rules in judicial decision making seems widely different based on the perspective or the theory studied — some believe that rules are pointless in the process, while others believe that rules are the basis of every judgment. Knowing their role is important because, as we live in a society governed by rules, we want to know not only if committing an illegal act will be punished but also if the court will protect us if our rights are breached. In this essay, we will look at threeRead MoreThe Legal Model, Attitudinal Model And Strategic Model Essay1380 Words   |  6 PagesUnit 8 Assignment: Short Answer Question 1 Answer: Legal cases are generally decided upon when a judge applies the law to the facts of the case; however, the Constitution is ambiguous which means it can be comprehended differently. The way the Constitution is translated in today s society and applied to modern laws is a responsibility that the Supreme Court justices must uptake. Many factors are believed to play a role in how exactly justices finalize and make their decision, which is why politicalRead MoreThe Natural Born Citizen Clause800 Words   |  4 PagesUNDERSTOOD IN EARLY AMERICAN AND BRITISH COMMON LAW WOULD REFUTE SENATOR CRUZ’S CASE THAT HE IS A NATURAL BORN CITIZEN WITHOUT CORRESPONDING STATUTES MAKING AN EXCEPTION. The modern conventional wisdom of the phrase â€Å"natural born citizen† in the presidential eligibility clause referred to anyone who was a U.S. citizen at birth either by a U.S. statute or via the Constitution. The Constitution has no â€Å"definition† section, and subsequently the Supreme Court has stated that when the Constitution is silent theRead MoreThe Supreme Courts Involvement with Abortion Essay examples1384 Words   |  6 Pagespublic policy carved such an unmistakable social divide. Never before has a public policy spurned so many questions about social and political standards of American culture. To understand the abortion controversy and ultimately the Supreme Court’s involvement and decision in Roe v. Wade, the roots of abortion must be examined. The American public turned to the Supreme Court to seek a resolution for the abortion conflict. Interest groups from both sides of the abortion spectrum realized their abilityRead MoreJustice Scalia Often Uses The Texualist Approach When Arguing925 Words   |  4 PagesJustice Scalia often uses the texualist approach when arguing for the text of the Constitution, but sometimes, as Scalia would argue, the text isn’t straightforward. In R.A.V v. City of St. Paul, Scalia authored the opinion of the Court, in which he argues that free speech is protected under the Constitution, unless it falls under a very narrow set of exceptions. According to Scalia, some content can â€Å"be regulated because of their constitutionally proscribable contents (obscenity, defamation, etc

Use of Metaphor, Symbols and Symbolism in The Great...

Use of Metaphor and Symbolism in The Great Gatsby Some novels have more of an impact in modern society than when they were originally written. This is especially true with Fitzgerald’s The Great Gatsby. Modern society can be termed corrupt, complete with tainted morals and an overemphasis on the acquisition of money and friends. Fitzgerald seeks the root of the problem and wants the reader to ponder whether he or she wants money and social status or fulfillment and truth. In his quest to enlighten the reader, Fitzgerald utilizes metaphor and symbols to clarify his message. The author wants to show what happens when the American dream (the pursuit of happiness) becomes warped into the American nightmare (the pursuit of money).†¦show more content†¦Contrary to the message of hope and opportunity conveyed by the color green is the valley of ashes. The valley of ashes represents the byproduct of a nation obsessed with money. It is filled with the gray industrial ashes of the factories that helped to catapult dreamers to the top of the world. It also symbolizes the lower class. The people living in the towns nearby are described as gray and solemn. They are washed up because they were unable to accomplish their goals and fulfill the American dream. Wilson, for example, is described as someone with an ashen, dust veiled suit and pale hair. The ash heap is described as a place where ashes grow like wheat into ridges and hills. As those ashes pile up, they bury the hopes of people seeking the American dream. The towns of East and West Egg are also symbolic. The people of East Egg represent those who already have wealth from inheritance. The people of West Egg represent those people who have gained their wealth through hard work and business. Gatsby has lots of money but he will always be subtly incompatible with the affluent society of East Egg. East Egg also represents old money and the east coast, whereas West Egg represents new money and the west coast. Throughout the novel, characters openly rebuke the west. For example, early in the novel Nick says, Oh, Ill stay in the East, dont you worry. The weather is anotherShow MoreRelated Symbols and Symbolism in The Great Gatsby Essay1207 Words   |  5 PagesSymbolism in The Great Gatsby       Fitzgerald’s The Great Gatsby has more relevance in today’s society than it did when it was written. With the recent societal trend that emphasizes lack of morals and material wealth over a meaningful existence, Fitzgerald’s message really hits home. Which is more important - money or love? Social status or being true to oneself? Fitzgerald uses metaphor and symbols to great effect in order to illustrate what can happen when the pursuit of happinessRead MoreLiterary Features in The Great Gatsby and The Catcher in the Rye1158 Words   |  5 Pages Symbolism is used in different ways in both the novels, ‘The Great Gatsby’ and ‘The Catcher in the Rye’ and I have explored the ways in which two different authors have used this literary feature to enhance meaning behind their novels. Fitzgerald uses colour imagery throughout ‘The Great Gatsby’, especially using the colour white which cleverly changes meaning as the story progresses. When the reader is first introduced to both Daisy Buchanan and Jordan Baker, they are first described as beingRead More Symbols, Symbolism, and Metaphor in The Great Gatsby Essay796 Words   |  4 Pages Metaphors and Symbolisms in The Great Gatsby nbsp; In the novel The Great Gatsby, F. Scott Fitzgerald uses many different metaphors and symbolisms to express his point.nbsp; In this essay the point that I wish to make is how Fitzgerald uses colors to develop image, feelings, and scenery depiction to let the reader feel the emotions and other aspects being portrayed in that particular part in the book.nbsp;nbsp;nbsp; Like every other essay one must address the major pointsRead MoreThe Great Gatsby Symbolism Analysis759 Words   |  4 Pages Fizgerald’s novel The Great Gatsby tells the story of Gatsby’s romance, tragedy and dramatic life, reflecting the glamor of the glitz and the loss of the Jazz era. In the novel, the author makes extensive use of symbolic techniques to express his profound thoughts and themes. The extensive use of symbolism not only enriches the connotation of the article but also reveals the theme in more depth and embodies the author’s mature artistic creation skills. The green light from the East Egg, whichRead MoreThe Great Gatsby And Harlem By Langston Hughes1089 Words   |  5 Pagesframe. Some examples of these works include The Great Gatsby by F. Scott Fitzgerald and â€Å"Harlem† by Langston Hughes. Both of these pieces of literature include literary elements to appeal to the reader’s senses and imagination. A prevalent theme that has been found in works of the roaring 20’s is the wealth that someone may or may not achieve. Literary elements such as figurative language, irony, and symbolism are profound in both The Great Gatsby and â€Å"Harlem†, adding depth to both literature worksRead MoreThe Great Gatsby By F. Scott Fitzgerald1531 Words   |  7 Pages The Great Gatsby is a highly symbolic piece of literature, representative of life in America during the early 20th century. In particular, however, F. Scott Fitzgerald’s novel represents the overall failure of the American Dream in an era seemingly known for its economic prosperity. His main argument is that in the end, the American Dream will always be known as a failure; unattainable to almost all who seek it. Fitzgerald argues that the ideals of the American Dream at the time of the so-calledRead MoreThe Colored Tragedies And Endings1558 Words   |  7 PagesNatalia Spritzer Great Gatsby Essay Responding to Literature Final Draft The colored tragedies and endings The Great Gatsby by F. Scott Fitzgerald is one of the most recognized American novels. The love-story relates and molds itself into the prominent era of Prohibition, and bases itself off the drunken and impetus glory of the American culture. Fitzgerald’s writing plays with the complex and intricate meaning; his magnificent descriptions, metaphors, and character development beam through theRead MoreSymbolism Of The Great Gatsby By F. Scott Fitzgerald1725 Words   |  7 Pages Chapter Four 1.Fitzgerald’s use of names further the motif of geography by using them as symbolism to represent some of the aspects in the American society at the time of the 1920s. East Egg symbolizes those from the old days, the West Egg represent those who have or are seeking financial opportunity and are known as â€Å"new money†. the valley of ashes represents the moral, social decay, and financial chaos of the American society at this time. 2.The symbol that Fitzgerald used as the outward manifestationRead MoreIdealised love hope and mortality in The Great Gatsby and Sonnets from the Portuguese5394 Words   |  22 PagesElizabeth Barret-Brownings Sonnets from the Portuguese and F. Scott. Fitzgeralds The Great Gatsby both reflect, in abstract style and varying contexts and elements, the experience of idealised love, hope and mortality. The elements employed by Barret-Browning and Fitzgerald, differ in their depictions of these themes through various literary devices, two of which are points of view and motifs/symbols. Barret-Brownings sonnet sequence illustrates a complex evolution of emotions as the poetRead MoreThe Placement Of Foreshadowing In F. Scott Fitzgeralds The Great Gatsby1167 Words   |  5 Pages Scott Fitzgeralds The Great Gatsby, many literary devices can be noticed, but the idea of foreshadowing particularly raises attention. Foreshadowing can be defined as a warning or indication of a possible future e vent. In The Great Gatsby, this literary device can be seen throughout the novel as a hint leading to events that would later occur. Foreshadowing in this novel has been presented in various cases that would result in a good or bad outcome. In The Great Gatsby, phenomenal moments of foreshadowing

The impact of migration on families around the world Free Essays

Migration has been an on going phenomena from past to present. Individuals, families or group of people may leave a country voluntarily because of events such as harsh environmental or economic conditions. Migration has always been an important part of human endeavour. We will write a custom essay sample on The impact of migration on families around the world or any similar topic only for you Order Now Migration can have positive and negative impacts on the families and also the country. With pros such as freedom, job vacancies and benefits to host country, it’s no surprise most people don’t have second thoughts about the cons such as effects on child, decrease in economy and propagation of diseases. Firstly migrants frequently settle in places with lesser population. These places would be having a shortage of skilled labour due to the decreased population. The migrants bring with them enough skills that will help support the economy. The migrants may be skilled people like doctors or unskilled people like construction workers. Migrants may increase unemployment in certain areas, but this is compensated by their raising the overall level of demand like housing and household related goods, needs†¦This promotes both a higher level and a wider range of goods and services produced, stimulating the economy and job growth. Migrants help to reduce labor shortages and also attract international traders through their foreign knowledge and language skills. Secondly migrants will be usually willing to fill job vacancies that local people are unwilling to fill. These include jobs such as babysitting, cleaning and other activities. This is an advantage for the existing community. Migration benefits not only the migrants, but also the countries that receive them, and even the countries they have left. Migrants doing these jobs live a happy and free life in a country where they get equal opportunity and thereby secure a better future for themselves and their families. For many young people, the experience and skills they acquire in the jobs to which they have migrated can serve as a step to further migration for better paid jobs. In addition to this researchers concur unanimously in reporting that migratory workers use part of their savings from working to improve their homes, whether by decorating them, extending them or introducing basic services such as electricity, water and drainage. Similarly, it is common to find that localities with migrants benefit from their contributions by receiving monetary support that helps them to improve diverse services, whether urban infrastructure, health, religious, educational or entertainment services. In towns with migrants it is common to find acknowledgments from the residents to their fellow townsmen for having helped them build a school or health clinic, or to introduce drinking water or build or improve the church,†¦. However the importance of keeping in regular contact: e-mails and text messages can in no way substitute for the physical presence of a parent, but they can help a child feel connected with family members who are away. Finally, there is the importance of the family’s relations and communication before the migration. Many parents presumably do not migrate unless they think their children can cope in the first place. A factor found to be extremely important is the child’s understanding of, and support for, the family goal. In fact, an individual’s migration can be highly valued within a family: it can give status, not only for the material objects the migration may bring, but in more symbolic form of being the family member who gives for others. Some of these observations might be extrapolated to the situation of children affected by HIV and AIDS. Moreover it is generally believed that those migrants who have had the courage to leave one country and move to another are often enterprising and entrepreneurial, even if poor. As such, in many countries, migrants often set up small businesses. They however, become easy targets when the general economic conditions in that host country worsen. In other cases, people become migrants because they have fleed worsening conditions or persecution. In that situation, although they may live in another country, it may initially be quite difficult to adapt and change practices and customs. In such situations migrants are clearly seen as different and in worsening economic times can be seen as sapping away resources that could otherwise have been used for local populations. Furthermore migrating parents may decide, whether by choice or due to untenable circumstances to leave their children in their country of origin, planning either to return to their household of origin or to reunite much later in their destination country. The decision of one or both parents to migrate and consequently, to leave children behind, may be the result of an individual altruistic decision to send remittances in order to make their family members’ lives better, or the result of household utility maximization that may take into consideration also the risks and perils of travel. Children whose parents are working abroad have a similar profile to those living in mono-parental families resulting from the parents’ separation or from the death of one parent. This shows that, although the work abroad is temporary, the impact on the children could be similar to that of the loss of a parent, through divorce or death. In conclusion, children whose parents are working abroad should be considered at risk. That would be a first recommendation to children protection authorities, who should find solutions to strengthen the relations between school and the social services system. For many migrants, migration represents an alternative for supporting their families. Nevertheless, while going to work abroad contributes significantly to household incomes, it also has many social costs. Migration also affects social relations. Migration also changes the roles within the family additional tasks must be assumed by those left behind. How to cite The impact of migration on families around the world, Papers

Successfull Team Building Management

Question: Describe about the Successfull Team Building for Management? Answer: Introduction A team is a group of people to perform certain task to accomplish common goals. A team conducts a series of complex task that are interdependent on each other. Team members have complementary skills and they co-ordinate their efforts to maximize their strength and to minimize their weakness (Baltzan et al., 2009). Lo1: Successful Business Team The success of the business depends upon the work done by the teams involved in it. One can put more efforts working in a team then working alone. So, it is important to form a team to give fruitful results. The business team will respond to the changes in external environment and across the globe. It helps in decentralizing the task, redesigning the business processes and empowering the employees. The structure of the team is an important feature. The selection of the right team to accomplish a certain task is necessary (Crispin and Gregory, 2009). The Characteristics Of Successful Business Team Successful team has certain characteristics to increase the chances of success. The goal of the team should be very specific. This focuses of the activities of the team. This will help them to decide the way to move on. The team members should be committed to achieve certain goals. Team members should shoulder the responsibility of the task. On achievement, the rewards should be shared by the team members. No individual is responsible of the task. This is the result of the efforts of the full team. Each and every member should be given a certain role. Members should be very clear about his role in the team. Without defining the roles, the employees will be frustrated and will not know about the activities they are responsible. Mutual trusts among the members are essential. Lack of trust will misguide them towards protecting their personal position. Respect for each member is essential. The task and views of each member should be respected by each other (Giddings, 2012). Importance Of Team Role A defined team role helps the individual to interact, behave and contribute in a specific way. The success and the failure of team depend on the behaviour of the members. There are people who can perform the task in creative ways, they will try to solve problem arrived, by giving alternative solutions. Recognizing different role allows a team to match job requirement with different skills.This will help them to create a balance team. Mutual commitment and collective work with co-operation and co-ordination helps a team for go ahead to gain success. The feeling of belongingness helps the members to perform better. Survival and growth depends on sharing common goals. The specification of the role and goal is essential for the success of the team (Interdisciplinary Symposium on Osteoporosis 2013 Patient-Centered Care: Developing Successful Bone Health Teams, 2013). 1.3 Models Of Successful Business Teams The team designed to achieve organizational goal includes the formation of a proper team structures. The major primary responsibility of the manager is maintaining the work climate in the team. Strategic model A frame work is necessary to guide the activities of the team. The frame work should be easy to understand and apply. The framework involves the manager in day to day interaction with other and takes decision that leads to team development. The goal of the team is to work in organizational context. Team has to perform a number of activities that are interrelated to each other. Forming storming performing team building model This model explains that team develops maturity and abilities with the time. This leads to change in the leadership style. In beginning leaders follow directive style then coaching then goes on to the participation and then to delegation. In the end they almost detach themselves with the team. The authority enjoyed by the leader later changes into freedom given to the team. Tannenbaum and Schmidt continuum model. This model emphasizes on changing in the management style. The team becomes more self sufficient and self-directive. A group that can run itself without external control. Johari windows model This model is helpful in understanding the employees and employers relationship. It tells us that open communication system, delegating task and participation in decision making will help a team to work more efficiently (Lines and Scholes-Rhodes, 2013). Lo 2 Support Team Development Team development involves wide range of activities to improve the team performance. A perfect team helps an organization to transform, to increase its performance and contribution to the organization (Lisa Haneberg., 2011). Stages In Team Development A team passes through five stages of development. At each stage the team has different challenges for the people. The organization can take different actions to support team in attaining goal. At each stage the behavior of the leader should be adaptive to the changing needs. The stages are as follows: Forming The formation of the team is the first stage. It is when a group of people comes together to accomplish a task to achieve certain goal. Storming This stage tells us about the disagreement on the vision and mission. People emphasizing on different approaches and different ways to accomplish the task and then conflict arises between them. Norming At this stage people working in a team establish a relationship among themselves. This helps the workers to attain better results. Performing This stage tells us about the task performed by the members to attain a certain goal. This is the result of healthy relationship. This will lead to team progress and effectiveness (London and Morfopoulos, 2009). Motivate Team Members People are the main resource of the company. For attainment of the goal leaders needs to have good motivational strategy to encourage the employees. Collective vision helps in prosperity and success of the team. It motivates them to work in a team and encourage them to put more efforts. People expect appreciation for their efforts at every level. Appreciation and rewards are more motivating than money. Performing challenging task motivates people. People find challenging task more interesting. Supervision is not only controlling each and every step but also making sure of the implementation of activities at all levels. People need to encouragement to believe that they have great potential to work. A leader should always show confidence in the potential of his team. Always support your team members. Give a person chance to work within its own frames of strength. This will develop confidence and motivate them to work hard. The policies of the reward have to be disclosed to everyone. This will develop a healthy competition among them. Each and every contribution is important. The workplace should be very beautiful. One should not feel forced to work. Making work more interesting will maintain the enthusiasm of the workers. Allow people to discover and explore. Organizing team after and during work will help in creating powerful team spirit at workplace. Mutual trust and understanding are very important qualities (Miller, 2011).A Open Communication Communication helps team to share ideas. Through open communication people can exchange their views, information and discuss the hurdles they are facing in attaining goal. Two ways communication among the members is essential to accomplish a task within a team. Through open communication people can understand each other in a better way (Rau, 2013). Ways To Deal With Conflicts Emotions are the main cause and the result of conflicts. Often negative emotions develop after conflicts. Maintaining the emotional control is the most difficult task while dealing with conflicts. Effective dealing on the conflicting situations is very essential. There are some ways: When both parties are upset, there is no point to talk. In such situation one needs to give some time and let the temper cools off. Then come together to achieve some sort of equilibrium. Keeping everyone talking and expressing themselves honestly and openly helps in solving problem. Make sure that no one is hiding any issues. Everyone needs has to be taken care of. Finding out everyone needs and then finding out solutions. Sometimes this will focus on complaints rather than solutions. Everyone has his vision for the ideal outcome. The challenge is to avoid the conflicting situation and finding the solutions by creative thinking. The best way is to find a solution that makes everyone happy under some circumstances. The situation must be fair to every one. Make plan in such a way that will help to keep emotions under control. The conflict should not take place again (Stone, 2010). Lo3 The Performance Of The Team Team performance helps to gain objectives. Leaders are responsible for the performance efficiency and productivity of the teams. It is one of the important task of the leader to monitor the performance and do take remedies to improve the performance for better results Monitor The Performance Of The Team Monitor the performance of the team is a important task. Regular check on the activities is necessary. Watching employees doing work is one of the effective ways to monitor performance. It will help leaders to find out, what is going wrong and how it can be corrected. Another way is to ask for the account of the work done on regular bases. This will help you to keep regular check on employees. Another way is the self monitoring tool. Activity log helps employee to monitor himself that his performance is going is the right direction or not. Activity log helps employer to find out what workers are doing the whole day. Review work in progress on regular basis will help to find out the loopholes in the progress at a early stage. Another way is to ask co-workers, customers and other vendors about the performance of the employees (Tuckman, 2010). Recommend how to improve performance against given objectives The main objective of any industry is to get maximum output by the employees to sustain in the competitions. Organization should recruit the employees who are ready to work in team. They should be ready to co-ordinate and corporate with other members of the team. The set goal should be achievable and clear to the employees. This will give them a proper direction to work. The group involved should have norms and code of conduct. They should trust each other. They should follow the rules and regulations. Regular support by the team members is necessary to improve the performance. Accountability is also one of the factors to improve the performance. People should believe that their contribution means a lot to the organizations. Regular appreciation is very important. Periodical check is necessary. This will give a chance to improve and to grow (Levin, 2011). Conclusions Team performance helps the organization to grow. It can adopt the changes by external environment. It will always maintain the team spirit and enthusiasm among the team member. The leader should always motivate the employees to give their best. Open communication and good atmosphere plays a important role in the success of the team. References Baltzan, P., Phillips, A., Haag, S. and Haag, S. (2009).Business driven technology. Boston: McGraw-Hill Irwin. Crispin, L. and Gregory, J. (2009).Agile testing. Upper Saddle River, NJ: Addison-Wesley. Giddings, A. (2012). Preferred Coaching Behaviors of Successful Female Collegiate Teams.Gender Medicine, 9(1), p.S101. Interdisciplinary Symposium on Osteoporosis 2013 Patient-Centered Care: Developing Successful Bone Health Teams. (2013).Osteoporos Int, 24(S2), pp.419-441. Levin, R. (2011). Building better team morale.The Journal of the American Dental Association, 142(7), pp.855-856. Lines, H. and Scholes-Rhodes, J. (2013).Touch point leadership. London: Kogan Page. Lisa Haneberg., (2011).Connecting Top Managers. FT Press. London, M. and Morfopoulos, R. (2009).Social entrepreneurship. New York: Routledge. Miller, M. (2011).The secret of teams. San Francisco: Berrett-Koehler Publishers. Rau, P. (2013).Cross-cultural design. Berlin: Springer. Stone, K. (2010). Kaizen Teams: Integrated HRD Practices for Successful Team Building.Advances in Developing Human Resources, 12(1), pp.61-77. Tuckman, B. (2010). Leadership Teams: Developing and Sustaining High Performance2010G. Sheard, A. Kakabadse and N. Kakabadse. Leadership Teams: Developing and Sustaining High Performance . UK: Palgrave Macmillan 2009. 251 pp.Management Decision, 48(2), pp.340-344.

ESL Holiday essay Essay Example

ESL Holiday essay Essay ESL Holiday essay BY KLtn Essay: Relationships and experiences shape an individuals sense of belonging. To what extent do the texts that you have studied support this idea? Relationship and experiences are two of the most common things in peoples life; they can shape peoples sense of belonging. A sense of belonging is the bond between people or something. Relationship like the brotherhood between brothers can form a strong sense of belonging between them. Experience such as life experience or Just a talk with someone can also shape peoples sense of belonging to something. Both of them ake place to such a great extent that happens to anyone, which can be seen from the film Billy Elliot by Stephen Daldry, the play Educating Rita by Willy Russell and the fiction Enders Game by Orson Scott Card. A sense of belonging between brothers is usually shaped by the brotherhood. In the orientation of Enders Game, Ender and his old brother Peter are playing a wrestling game where Peter obviously dominates Ender. After he beats Ender down on the floor he puts his toe against Enders groin and puts more and more weight on Ender, Ender can hardly breathe. Then Peter ays l could kill you like this. The emotive verb kill tells us that Peter tends to rule over his younger brother. Peters lack of mercy on Ender shows a bad relationship between the brothers. Similarly, in Billy Elliot, during the orientation of the story, when Tony finds out Billy has played his record, he asks aggressively: you have been playing my record? You little twat. We will write a custom essay sample on ESL Holiday essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on ESL Holiday essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on ESL Holiday essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The use of abusive language twat towards his younger brother shows their brotherhood lacking harmony. This is further emphasized as Tony takes Billys book, whacks on Billys head and calls Billy nob- ead However, as the proverb Blood is thicker than water goes, the true brotherhood love between brothers is unbreakable. It may be not that peaceful, but the sense of belonging between them shaped by their brotherhood will last forever. The night after Peter beats Ender, he sneaks to Enders bedroom and kissed him on his forehead and whispered Ender, Im sorry I love you, the comparison between the emotive words kill in the previous and the emotive word love conveys that no matter how unhappy brothers have been, the sense of belonging between them can lways call love back. The same idea is shown in the Billy Elliot when Jackie and Tony go to London to see Billys performance. Through a series of long shots showing Jackie and Tonys movement, Stephen gives us a comparison between the two characters. Jackie moves slowly, whereas Tony is in a hurry all the time. He runs in every single shot, and urges Jackie to hurry up with imperative tone, such as Dad! , Come on! and We are gonna be late. While they are on the escalator, through a high angle shot, both of them are depicted vulnerable in comparison to the big city. Jackie is fully shocked by the magnificence, as we can see he stands still and looks up at the ceiling; however, Tony is not impressed by anything. Although he also hasnt seen the great city before, his sense of belonging to Billy urges him to see Billys performance as early as possible. Relationship, the brotherhood, between the two brothers forms strong sense of belonging between them respectively. The sense of belonging to brothers shaped by their brotherhood is unbreakable as displayed in both texts. Moreover, peoples experience can also shape their sense of belonging. In er life experience. During one of the setbacks, Ms. Wilkinson and Billy are waiting on the bridge. When Ms. Wilkinson tells Billy the story Swan Lake, she is implying a metaphor for her own life. She was once a ballet dancer like the girl who was the princess; she was entrapped in the town like the princess who was turned into a swan; she used to have a strong sense of belonging to ballet but now it is dead, Just like the wrong ending she tells Billy shes dead ts Just a ghost story. Her sense of belonging is dead because of her life experience. Through a long shot at bottom ngle, the composer shows the magnificent steel bridge, which is like a huge cage exerting a massive depression to both characters. Audience can also experience the pressure, from Billys point of view. The bridge is the symbol of the town which entraps both of them. The next shot shows Billy is looking up the bridge like a bird who wants to break the cage, whereas Ms. Wilkinson Just smokes and doesnt even bother looking at anything. This indicates that Billy wants to break the cage and see the outside world, whereas Ms. Wilkinson has lost all motivation to chase her dream nd accepts what she has now. Her sense of belonging to ballet is re-shaped by her life experience in Everington where ballet dance is not valued. While in the play Educating Rita, Ritas sense of belonging to education is shaped through a talk with her mum. During the setbacks of the story in Scene7 Actl, Rita goes to pub with her mother and husband. Her mother explains why she cried: because we could sing better songs than those. The songs are metaphor for life. The use of subjunctive mood clearly shows that Ritas mother is regretting she didnt get educated when she was young. Rita also sees her mother as a mirror for her life, as she says:thats why I came back and thats way Im staying. The use of repetition further stresses that she doesnt want to be the image in the mirror of her mother. She wants to be educated; she wants to sing better songs. Her sense of belonging to education is not only shaped but also strengthened by it. Both characters sense of belonging have been shaped through their personal experience as demonstrated above In conclusion, relationship between people and their experience have such a great impact on peoples sense of belonging that they can shape peoples sense of belonging.

Mitosis Quiz on Mitotic Cell Division

Mitosis Quiz on Mitotic Cell Division Mitosis Quiz This mitosis quiz is designed to test your knowledge of mitotic cell division. Cell division is a process that enables organisms to grow and reproduce. Dividing cells go through an ordered series of events called the cell cycle. Mitosis is a phase of the cell cycle in which the genetic material from a parent cell is divided equally between two daughter cells. Before a dividing cell enters mitosis it goes through a growth period called interphase. In this phase, the cell duplicates its genetic material and increases its organelles and cytoplasm. Next, the cell enters the mitotic phase. Through a sequence of steps, chromosomes are equally distributed to two daughter cells. Mitosis Stages Mitosis consists of several stages: prophase, metaphase, anaphase, and telophase. Finally, the dividing cell goes through cytokinesis (dividing of the cytoplasm) and two daughter cells are formed. Somatic cells, cells of the body other than sex cells, are reproduced by mitosis. These cells are diploid and contain two sets of chromosomes. Sex cells reproduce by a similar process called meiosis. These cells are haploid and contain one set of chromosomes. Do you know the phase of the cell cycle in which a cell spends 90 percent of its time? Test your knowledge of mitosis. To take the Mitosis Quiz, simply click on the Start The Quiz link below and select the correct answer for each question. JavaScript must be enabled to view this quiz. START THE MITOSIS QUIZ JavaScript must be enabled to view this quiz. To learn more about mitosis before taking the quiz, visit the Mitosis page. Mitosis Study Guide OverviewStages of MitosisMitosis AnimationMitosis Image GalleryGlossary of TermsQuiz

Financial Analysis of Abiomed Incorporation Research Paper

Financial Analysis of Abiomed Incorporation - Research Paper Example The potential for growth mainly lies with such companies as once these companies start coming back to profitable tracks they provide good returns especially to those investors who put their investment at stake in the bad times of those companies. However, the risk of losing money also exists such that there are chances that these companies may perform even more sluggish operations which in turn lead them towards the way to bankruptcy. Company Overview Among those companies which are going through their struggling phase of life, Abiomed Inc. is one of those companies. The company mainly develops surgical products especially for heart failing patients and provides those equipments to hospitals. This report provides a financial analysis of Abiomed Inc. for the past three years, as well as with its industry giant Medtronic Inc. This financial analysis is conducted with the help of ratio analysis in respect four broader categories which are 1) Profitability, 2) Efficiency, 3) Liquidity, a nd 4) Solvency. Competitive Environment and Market Conditions The competitive environment for medical and surgical equipments is quite intense especially for the equipments, which facilitate heart failing patients. The financial position of Abiomed Inc. is not as stable and strong as its competitors possess. The competitors can provide better equipments as they have latest technology and better infrastructure as compared to Abiomed Inc. These competitors have a tendency to give tough time to Abiomed Inc. in such a manner that they can provide those surgical equipments either at the same or even relatively lower prices to the customers. As a result, Abiomed Inc. needs to put more focus on building their financial position stronger in order to compete on better footings. Profitability Ratios Return on Stockholder’s Equity Return on shareholder’s equity describes as how much percentage of equity is being generated as net income. Due to experiencing negative earnings i.e. losses ABMD’s return on equity remained in negative zone for all of the three years. However, the most promising sign for the company is that the company is moving in a right direction such that its percentage has been improved from -27% to around -11% which is a positive sign. By taking a look at the performance for Medtronic, its percentage has also been increased from 15% to 19% which is a better sign. Overall it can be inferred that both the companies improved their return on shareholders’ equity mainly due to increasingly improved industry conditions. This ratio is quite meaningful and important to investors especially as they are more concerned in assessing as to how much their equity has earned in the form of income for the company. Return on Shareholder's Equity Year ABMD Medtronic 2011 -11.22% 19.39% Â   Â   2010 -17.62% 21.18% Â   Â   2009 -27.24% 15.70% Return on Assets Return on assets is also a good profitability indicator such that it describes the ef ficiency of assets to generate income for the company. Companies are more interested in knowing as to whether the assets they have deployed in the operations of the business are worthy and capable of generating income or not. If the performance of the assets of ABMD is taken into

How to Cope with the Problematic Situation Essay

How to Cope with the Problematic Situation - Essay Example The common feature of any social group or any size is that its members differ in the degree of their influence, and â€Å"†¦ the person who exerts the most influence on the rest of the group thus affecting group beliefs and behavior is usually addressed as the leader† (Hollander 1985, p. 14). However, while this definition of leadership highlights the essence of leadership, it is only one of the numerous of definitions that have been proposed in the literature: the second edition of The Handbook of Leadership by Bass lists more than 130 definitions of this phenomenon and 13 major approaches (Bass, 1990, p. 12). Availability of such versatile data significantly facilitates analysis of problems related to leadership because in many cases the existing approaches and definitions are not mutually exclusive but rather complementary. The present report is an attempt to analyze a situation that provides valuable insights into the essential aspects of leadership and is directly li nked to the effectiveness of managerial work. The story of Ted Willis who has been hired as the new supervisor suggests he is likely to face the classic type of leadership problem: the new leader vs. the old leader. One should not get misled by the fact that Ted is the new supervisor and the old supervisor has been fired. The so-called ‘workers of influence’ theory of leadership is particularly important to understand the distinction between managers and leaders. The key idea of this theory is that leadership may be exhibited by anyone in the organization in any type of position (Yukl 1989). According to this theory, leaders may operate at different levels within the organization and within the same hierarchical level as their followers. Such perception of leadership conflicts the traditional theories which treat it as a set of attributes and behaviors exhibited by persons with legitimate.

Government 2301 Executive Project Essay Example | Topics and Well Written Essays - 1250 words

Government 2301 Executive Project - Essay Example This helpful act was brought into law by George W. Bush on December 3, 2004. This act has helped out and benefitted 6.8 children and youths suffering from disabilities (OELP). In order to gain a better understanding of the Office of Special Education Programs, it is important to take a closer look at the act, IDEA. IDEA has had a profound effect on individuals with disabilities. It was actually preceded by a different act, the Education for All Handicapped Children Act (Public Law 94-142) put into law on Nov. 29, 1975 (IDEA’s Impact). This law was made in order to protect the rights of the needs of individuals with disabilities, as well as assisting their families. Before IDEA, many people with disabilities were not able to obtain the types of necessary opportunities to educate themselves successfully (IDEA’s Impact). A report in 1970 showed that several United States schools would not permit certain students with disabilities to enter the school (IDEA’s Impact). This, of course, greatly harmed the education of these individuals while at the same time making education seem like something these people did not deserve. However, in a fai r country with public education, shouldn’t everybody have access to it? This is why IDEA was formed. The act initiated programs that could discover disabilities relatively early on in order to assist students. This education would then be molded to fit these individuals’ basic needs, whether they were deaf, blind, mentally retarded, or suffered from some other type of disability. This has created an opportunity for children with disabilities to take advantage of their public schools (IDEA’s Impact). Thus, the schools have responded to this with different ideas. Some students have separate classes with different teachers, while others are learning with their non-disabled

The Impact of Exports on Firms

The Impact of Exports on Firms INTRODUCTION The analysis in this report deals with the question of whether firms that start exporting become more productive, that is better of when they involve in intrenational trade or are already very productive before they embark on international trade. Firstly, and most importantly, we note the empirical findings which indicates that exporters are better of than non exporters. Some studies confirm facts from numerous countries, which imply that on average, exporting firms are more productive and more capital intensive, because they pay higher wages and have larger scale of production. There are two mechanisms which can confirm that there are positive correlation between firms productivity and its exports status. The first hypothesis is the self-selction hypothesis, which talks about firms that were previously productive before engaging in export activities to compete in international competitive markets. Then the second hypothesis, is the learning by exporting hypothesis which refers to firms that learn different things and expertise that enables them increase productivity and level of efficiency by entering into the export market. The cause for the increase in productivity in the learning by export hypothesis, is the access to new and improved and ofcourse more advance technologies, product designs , technical and amangerial expertise plus economies of scale, these all contribute to the general improvement. Recent studies by Aw Chung and Roberts(2000) for Korea and Van Biesebroeck(2006) for Cote- d’ Ivore have recorded that firms experience significant productivity rise after entering the export market. According to Melitz(2003), Benard et al(2003) and Clerides et al(1993), provid etheoritical evidence that firms have to be more productive to over sunk costs and enter international markets which supporets the self selection hypothesis rather than the learning by entry hypothesis. Also Damijan et al (2005) in his study in Slovenian firms indicates that in average higher productivity is vital for firms that start exporting to improve markets and not for firms that target developing countries. Some other studies have also found evidence in support of both self selection and learning by exporting effects. DISCUSSION AND RESULTS The data set used analyses and provides some evidence on the difference between exporting and non-exporting firms. The result of the estimation is for self-selecting and learning by export hypothesis at the firm level looking at the hotel industry. Productivity is often estimated as the deviation between observed output and the output prredicted by a Cobb-Doughlas production function estimated by an Ordinary Least squares. The regular approach used to measure TFP suggests estimating production function using an equation to obtain the elasticities of turnover with reverence to inputs such as capital, labour and intermediaries. We also Augument the production function with another variable export , and we do this because we want to consider the extent to which exports increase productivity. The production function estimation is written below as; Ln(Y)it = ÃŽ ²0 ln (C )it + ÃŽ ²1 ln (L)it + ÃŽ ²2ln(K)it + ÃŽ ²3ln(M)it + ÃŽ µit. Y represents the firms autput for example, a firm’s turnover, L is the firms input in time t, K is the capital stock, M are the materials while C is the Hicksian neutral level of efficiency, ÃŽ µit is the producer specific deviation from the mean value, ÃŽ ²0 is a mean efficiency level across firms in time t. (Van Beveren, 2000). To calculate the TFP , following the standard appraoch, two steps are used. First is to estimate the elsaticity of the output using the inputs (labour,capital and intermediates), the second step then involves obtaining TFP as a sum of the residual from the equation. The problems associated with the production functions are; endogeinity of input choices, selection bias, imperfect competition in inputs and output markets, omitted variables,estimation product level. This simultaneity is present because productivity is said to be known to the profit-maximizing firms( but not the econometrician). When they choose their input levels. (Marshak and Andrews 1994). Firms would increase the use of their imputs in relation to positive productivity shocks. The simultaneity biases can be downward on capital and upward on labour and material. When this is the case, we are faced with the empirical question of whether it is likely to vary by sector or dependent on the balanced inputs. The OLS estimation of the production function would in turn produce biased estimates due to lack of knowledge for the unobserved productivity shocks. A fixed-effects estimator would possibly solve the problem of simultaneity if we assume the unobserved, firm specific productivity i s time invariant.(Yasar,M. et al 2008). Some of the problems associated with the production function should be seen in the OLS regression table in figure 1, then we will check if theses problems were corrected or fixed by the fixed effect regression in figure2 because the fixed effects is one of the traditional means of solving the problem of simultaneity bias. When OLS estimates of production functions are biased, they lead to biased estimates of productivity and the important quantity for the estimation question. Olley and pakes also introduces a semi parametric method that comtrols for these biases seen in a Cobb-Doughlas production function, allowing us to estimate the production function parameters consistently and thus obtain dependable productivity estimates. The coefficients in figure 1 are correlated with the error term and there is heteroscadisticty in our data, but notwithstanding the robust clustering, our most important variables remain largely significant. Given that this is a cobb doughlas production function, our variables can be interpreted as elasticities. Summing up the coefficients capital, employment and intermediates will give us an indication of returns to scale (0.27+0.03+0.70 = 1) this shows virtually constant returns. After running the fixed effect regression in figure 2 we see that the problem of collinearity still persits even though the regressors are jointly significant, becausee the overall F statistic of 146.97 has a p-value of 0.000 In table 4 we compare the parameters estimated from OLS and the Fixed Effect regression. Whether the OLS coeficient on capital will be upward biased or downward biased depends on the degree of correlation among the inputs of productivity shocks. The fixed effects estimates differ quite considerably from the OLS estimates. The extent of each firms productivity shock differs over time and is not a constant fixed effect. The coefficients for each estimator, summed up to 1 as seen earlier which implies that there is increasing return for this industry. In production function estimation the key thing is the correlation between un observed productivity shocks and input levels. Profit maximizing firms react to positive productivity shocks by expanding output, which involves the use of additional outputs. Negative shocks lead firms to trim The most essential problem to be considered when a firm intends to engage in international trade is the entry mode in which the firm chooses to attend to the foreign markets(root 1987). Firms who fail to do this correctly will eventually become less efficient and depending on the market forces, on the long run could potentially be taken off the competition completely. in the case of the hotel trade, the higher the level of control on the external operation permits to alleviate the tendency towards the opportunism on the part of the hotels in two fold sense, first is property rights offer a greater potential to establish a richer rewarding system and secondly, the organisational culture shared by a chain of hotels and its hotels in property provides with a set of norms and values more alligned with the interest of the chain( Brown ,Dev 200). The variables that affect export performance in the hotel industry includes; managerial variables e.g staff, organisational variables e.g foreign activities, Environmental variables e.g market goal, Marketing mix variables e,g price, place , promotion. In common with other service organisations, hotels have traditionally had a great labour intensity, which invariably accounts for the greatest proportion of total hotel costs. Despite the pressure of productivity improvements in hotels, productivity managements has not progressed quickly. Hotels engage in alot of export activities as they have to satisfy there customers in other to improve productivity. The hotel inputs are the resources they basically need to run the hotels which are labour, capital, raw materials, energy and essentially customers. While using a single input as output production is seen as unsatisfactory, it is the continous combination of inputs factors that should be used to measure and accumulate total productivity of the industry. The variables which include managerial, organisational and environmental, indirectly influences the export performance of the hotel industry. The marketing-mix variables are directly in relation to their export performance. According to studies, it may be stated easly that the foreign market entry mode is not a determining factor of export performance. It may then be said that there is a dirct or indirect relationship between the entry mode and the export performance of a firm. The size and investment in training are said to be firm specific in detremining the advantages of export activities of the hotel industry. Some hotels lay emphasis on their advantages in marketing and concentrate on referal system and franchising, while others see themselves as providing a package of professional managerial and arganisational service which cover most stages in hotel operations (e.g Hilton international, which explicitly rejects the involvement solely through franchise agreements). For the sole reason of value of the value of a hotel to a customer which cannoit be seperated from its location, the choice of country from which the needs of hotel guests should be served, is not one which normally has to be made. As in the case of some essentialproducts, the loocationof hotels is counttry specific because they have to be situated where the tourists are positioned. There are also cases where hotels are located near the border of one country which touristd may pay day visits time to stay, or hotels sited in arears which are enroute to the final destinations of the travellers. What detremines the forem of involvement by foreign firms in the hotel industry? Such involvement ranges from 100% equity stake through to a franchising agreement with the minimum amount of influence consitent with protecting the name and reputation of the franchisor. The electic theory of international production provides a useful framework in explaining reasons for, and ways foreign involvement in international hotel industry. International hotel chain secures a standard service with certain characteristics demanded by their customers who are mostly foreign toursts, and they also operate on superior production function to hotels who only operate locally. This is because being a multinational hotel or invovlving in export activities, gives them a wider learning process gotten from dealing in different economic environments and also gives them the ground to source for more inputs to enhance both quality of services and competitiveness wit other hotels in the international market. Another reason they are better of than hotels operating llocally only is that, knowledge gotten firstly from servicing in their local market in combinatio with that of the foreign market, which is essentially done by meeting up with the needs of the foreign tourists, impr oves their overall productivity and inceases their turnover. CONCLUSION The relationship between the productivity of the hotel industry and export experience are robust or said to be very high. The average productivity is highest for the hotels that continously engage in international trade than hotels who only operate locally and those who exit the international trade. Firms that go into the export market have higher productivitybefore entry because they have enough turnover or profit to enable them engage in international trade. The self-selection hypothesis has higher productivity into the export market. There also seems to be a higher difference between exporters and non exporters as export experiences increases but this assumption is only limited to the enter and exit of the export market and not for continous exporters. (Bee Yan Aw et al, 1999) APPENDIX FIGURE 1 FIGURE 2 FIGURE 3 PARAMETER OLS FIXED EFFECT LINTER 0.6966 (0.017) 0.5321 (0.0363) LK 0.0349 (0.0057) 0.0249 (0.0085) LEMP 0.2748 (0.0163) 0.3798 (0.0367) SUM 1.006 0.9368 FIGURE 4 REFERENCE. Aw, Y.B., Chung, S., Roberts, M.J. 1999 productivity and turnover in the export market: Micro evidence from Taiwan and South Korea. P 1- 26. Berbel-Pineda, J.M.; Ramirez-Hurtado, J.M. 2011.Does the foreign market affect export performance? A case of the Spanish Hotel industry. Journal of business economics and management. P 302 312 Dunning, J.H., Mcqueen, M. 1981. The electic theory of international production: A case study of the international hotel industry. p 197-205 Levinsohn , J., Pai, B.P, Petrin, A. 2004. Production function estimation in stata using inputs to control for unobservables. P 114- 118 Poi, B., Raciborski, R., Yasar, M., 2008. Production function estimation in stata using the olley and pakes method. P 222-224

A Day In The Dark Essay -- essays research papers

This passage was written by Elizabeth Bowen and is titled ‘A Day in the Dark’. It is a story told by a girl named Barbie. She tells a tale of when she was fifteen and visited the house of Miss Branderry to return a copy of Blackwood’s and to request to borrow, for her father, a thistle cutter. She also takes some roses to apologise for glass stain and thumbmarks on the cover of the magazine. The passage mainly focuses on Barbie and her view on the events. But the passage also looks into the relationships between the Barbie and her uncle, and Miss Branderry and her niece. The first paragraph sets the scene and creates an atmospire for the story. The author immediately begins by saying ‘It was July, a sunless warm afternoon, dead still.’ She also talks of ‘idlers’ who of coarse are people who have nothing to do, because it is to hot. And also she uses words like ‘heavy’. We get this sense of oppression. Sound seems to be a predominant feature in the opening paragraph. For the writer mentions her senses and then continues with references like ‘childless silence’ and the ‘mesmeric sound of the weir.’ At the very end of the paragraph the last sentence is only two words long. ‘It opened’. ‘It’ being this red door, the entrance to Miss Branderry house. By simply using two words it has great effect, emphasising the presence of this door, it seems to be the only thing that has actually moved. Throughout the passage the Elizabeth Bowen has explored the relationships between Nan an...

Business Ethics and Corporate Governance in Lic of India

OVERVIEW INSURANCE- AN INTRODUCTION Meaning: Insurance may be described as a social device to ensure protection of economic value of life and other assets. Under the plan of insurance, a large number of people associate themselves by sharing risks attached to individuals. The risks, which can be insured against, include fire, the perils of sea, death and accidents and burglary. Any risk contingent upon these, may be insured against at a premium commensurate with the risk involved. Thus, collective bearing of risk is insurance. Insurance = Collective Bearing of Risks| Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events. The term â€Å"risk† is used to describe the possibility of adverse results flowing from any occurrence or the accidental happenings, which produce a monetary loss. Insurance is a pool in which a large number of people exposed to a similar risk make contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good. The sharing of risk among large groups of people is the basis of insurance. Related article: Disadvantages of Ethics in Business The losses of an individual are distributed over a group of individuals. Insurance is nothing but a system of spreading the risk of one onto the shoulders of many. While it becomes somewhat impossible for a man to bear by himself 100% loss to his own property or interest arising out of an unforeseen contingency, Insurance is a method or process which distributes the burden of the loss on a number of persons within the group formed for this particular purpose. Definitions: Fundamental Definition In the words of D. S. Hansell, â€Å"Insurance accumulates contributions of all parties participating in the scheme. Contractual Definition In the words of Justice Tindall, â€Å"Insurance is a contract in which a sum of money is paid to the assured as consideration of insurer’s incurring the risk of paying a large sum upon a given contingency†. Working of Insurance Insurance Industry in India : The origin of life insurance in India can be traced back to 1818 with the establishm ent of the Oriental Life Insurance Company in Calcutta. It was conceived as a means to provide for English Widows. In those days a higher premium was charged for Indian lives than the non-Indian lives as Indian lives were considered riskier for coverage. The Bombay Mutual Life Insurance Society that started its business in 1870 was the first company to charge same premium for both Indian and non-Indian lives. In 1912, insurance regulation formally began with the passing of Life Insurance Companies Act and the Provident Fund Act. By 1938, there were 176 insurance companies in India. But a number of frauds during 1920s and 1930s tainted the image of insurance industry in India. In 1938, the first comprehensive legislation regarding insurance was introduced with the passing of Insurance Act of 1938 that provided strict State Control over insurance business. Insurance sector in India grew at a faster pace after independence. In 1956, Government of India brought together 245 Indian and foreign insurers and provident societies under one nationalized monopoly corporation and formed Life Insurance Corporation (LIC) by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore. Before 1956, insurance was private with minimal government intervention. In 1956, life insurance was nationalized and a monopoly was created. In 1972, general insurance was nationalized as well. But, unlike life insurance, a different structure was created for the industry. India had the nineteenth largest insurance market in the world in 2003. Strong economic growth in the last decade combined with a population of over a billion makes it one of the potentially largest markets in the future. Insurance in India has gone through two radical transformations. One holding company was formed with four subsidiaries. As a part of the general opening up of the economy after 1992, a Government appointed committee recommended that private companies should be allowed to operate. It took six years to implement the recommendation. Private sector was allowed into insurance business in 2000. However, foreign ownership was restricted. No more than 26% of any company can be foreign-owned. A totally regulation free regime ended in 1912 with the introduction of regulation of life insurance. A comprehensive regulatory scheme came into place in 1938. This was disabled through nationalization in what follows; we examine the insurance industry in India through different regulatory regimes. But, the Insurance Act of 1938 became relevant again in 2000 with deregulation. With a strong hint of sustained growth of the economy in the recent past, the Indian market is likely to grow substantially over the next few decades. The rest of the chapter is organized as follows. First, we study the evolution of insurance business before nationalization. This is important because the denationalized structure brought back to play important legal rules from 1938. Next we analyze the nationalized era separately for life and property casualty business as they were not nationalized simultaneously. Much of post-independence history of insurance in India was the history of nationalized insurance. In the following section, we examine the new legal structure introduced after the industry was denationalized in 2000. In the penultimate section, we examine the current state of play and projected future of the industry. Important Milestones in the Life insurance business in India: * 1870: Bombay Mutual life assurance society is the first Indian owned life insurer. * 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. * 1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. * 1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament- LIC Act 1956- with a capital contribution of Rs. 5 crores from the Government of India. * 1997: Insurance regulator IRDA set up. 2000: IRDA starts giving licenses to private insurers like Kotak Life Insurance, ICICI Prudential and HDFC Standard Life insurance first private insurers to sell a policy. * 2001: Royal Sundaram Alliance first non life insurer to sell a policy. * 2002: Banks were allowed to sell insurance plans. As Third Party Administrations (TPAs) enter the scene, insurers start setting non-life claims in the cashless mode. * 2004-05: The Government proposed for increasing the foreign equity stake to 49%. * 2007: First Online Insurance portal, set up by an Indian Insurance Broker, Bonsai Insurance Broking Pvt. Ltd. LIFE INSURANCE CORPORATION ACT, 1956 An act to provide for the nationalization of life insurance business in India by transferring all such business to a Corporation established for the purpose and to provide for the regulation and control of the business of the Corporation and for matters connected therewith or incidental thereto. BUSINESS ETHICS Ethics are  moral guidelines  which govern  good behavior. So behaving ethically is  doing what is morally right. Behaving ethically in business is widely regarded as good business practice. To provide you with a couple of quotes: Ethical principles and standards in business: * Define acceptable conduct in business * Should underpin how management make decisions An important distinction to remember is that behaving ethically is not quite the same thing as behaving lawfully: * Ethics  are about what is right and what is wrong * Law  is about what is lawful and what is unlawful You will probably note the link between business ethics and corporate social responsibility (CSR). The two concepts are closely linked: * A socially responsible firm should be an ethical firm * An ethical firm should be socially responsible However there is also a distinction between the two: * CSR is about responsibility to all stakeholders and not just shareholders * Ethics is about  morally correct behavior How do businesses ensure that its directors, managers and employees act ethically? A common approach is to implement a  code of practice. Ethical codes are increasingly popular – particularly with larger businesses and cover areas such as: * Corporate social responsibility * Dealings with customers and supply chain * Environmental policy & actions * Rules for personal and corporate integrity NEED OR IMPORTANCE OF BUSINESS ETHICS These 12 points below discuss the need, importance of business ethics: 1. Stop business malpractices: Some unscrupulous businessmen do business malpractices by indulging in unfair trade practices like black marketing, artificial high pricing, adulteration, cheating in weights and measures, selling of duplicate and harmful products, hoarding etc. These malpractices are harmful to the consumers. Business ethics help to stop these business malpractices. 2. Improve customers’ confidence: Business ethics are needed to improve the customers’ confidence about the quantity, quality, price, etc of the products. The customers have more trust and confidence in the businessmen who follow ethical rules. 3. Survival of business: Business ethics are mandatory for the survival of the business. The businessmen who do not follow it will have short term success, but they will fail in the long run. This is because they can cheat a consumer only once. After that, the consumer will not buy products from that businessman. He will also tell others not to buy from that businessman. So this will defame his image and provoke a negative publicity. This will result in the failure of the business. Therefore, if the businessmen do not follow ethical rules, he will fail in the market. 4. Safeguarding consumers’ rights: The consumer has many rights such as right to health and safety, right to be informed, right to choose, right to be heard, right to redress, etc. But many businessmen do not respect and protect these rights. Business ethics are must to safeguard these rights of the consumers. 5. Protecting employees and shareholders: Business ethics are required to protect the interest of employees, shareholders, competitors, dealers, suppliers, etc. It protects them from exploitation through unfair trade practices. . Develops good relations: Business ethics are important to develop good and friendly relations between business and society. This will result in a regular supply of good quality goods and services at low prices to the society. It will also result in profits for the businessmen thereby resulting in growth of economy. 7. Creates good image: Business ethics create a good image for the business and businessmen. If the businessmen follow all ethical rules, then they will be fully accepted and not criticized by the society. The society will always support those businessmen who follow this necessary code of conduct. 8. Smooth functioning: If the business follows all the business ethics, then the employees, shareholders, consumers, dealers and suppliers will all be happy. So they will give full cooperation to the business. This will result in the smooth functioning of the business. 9. Consumer movement: Business ethics are gaining importance because of the growth of the consumer movement. Today the consumers are aware of their rights. Now they are more organized and cannot be cheated easily. They take actions against those businessmen who indulge in bad business practices. They boycott poor quality, harmful, high priced and duplicate goods. Therefore, the only way to survive in business is to be honest and fair. 10. Consumer satisfaction: Today, consumer is the king of the market. Any business simply cannot survive without the consumers. Therefore, the main aim or objective is consumer satisfaction. If the consumer is not satisfied, then there will be no sales and thus no profits too. Consumer will be satisfied only if the business follows all the business ethics, and hence are highly needed. 11. Importance of labour: Labour i. e. employees or workers play a very crucial role in the success of a business. Therefore, business must use business ethics while dealing the employees. The business must give them proper wages and salaries and provide them with better working conditions. There must be good relations between employer and employees. The employees must also be given proper welfare facilities. 12. Healthy competition: The business must use business ethics while dealing with the competitors. They must have healthy competition with the competitors. They must not do cut throat competition. Similarly, they must give equal opportunities to small-scale business. They must avoid monopoly. This is because monopoly is harmful for the consumers. CORPORATE GOVERNANCE Good corporate governance contributes to a company’s competitiveness and reputation, Corporate governance  is â€Å"the system by which companies are directed and controlled†. It involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders  and other  stakeholders, and the goals for which the corporation is governed. In contemporary business corporations, the main external stakeholder groups are shareholders, debt holders, trade  creditors, uppliers, customers and communities affected by the corporation's activities. . Internal stakeholders are the  board of directors,  executives, and other employees. Much of the contemporary interest in corporate governance is concerned with mitigation of the conflicts of interests between stakeholders. Ways of mitigating or preventing these conflicts of interests incl ude the processes, customs, policies, laws, and institutions which have impact on the way a company is controlled. An important theme of corporate governance is the nature and extent of  accountability  of people in the  business. IMPORTANCE OF CORPORATE GOVERNANCE The need, significance or importance of corporate governance is listed below: 1. Changing Ownership Structure: In recent years, the ownership structure of companies has changed a lot. Public financial institutions, mutual funds, etc are the single largest shareholder in most of the large companies. So, they have effective control on the management of the companies. They force the companies to use corporate governance. That is, they put pressure on the management to become more efficient, transparent, accountable, etc. They also ask the management to make consumer-friendly policies, to protect all social groups and to protect the environment. So, the changing ownership structure has resulted in corporate governance. 2. Importance of Social Responsibility: Today, social responsibility is given a lot of importance. The Board of Directors has to protect the rights of the customers, employees, shareholders, suppliers, local communities, etc. This is possible only if they use corporate governance. 3. Growing Number of Scams: In recent years, many scams, frauds and corrupt practices have taken place. Misuse and misappropriation of public money are happening everyday in India and worldwide. It is happening in the stock market, banks, financial institutions, companies and government offices. In order to avoid these scams and financial irregularities, many companies have started corporate governance. 4. Indifference on the part of Shareholders: In general, shareholders are inactive in the management of their companies. They only attend the Annual general meeting. Postal ballot is still absent in India. Proxies are not allowed to speak in the meetings. Shareholders associations are not strong. Therefore, directors misuse their power for their own benefits. So, there is a need for corporate governance to protect all the stakeholders of the company. 5. Globalization: Today most big companies are selling their goods in the global market. So, they have to attract foreign investor and foreign customers. They also have to follow foreign rules and regulations. All this requires corporate governance. Without Corporate governance, it is impossible to enter, survive and succeed the global market. 6. Takeovers and Mergers: Today, there are many takeovers and mergers in the business world. Corporate governance is required to protect the interest of all the parties during takeovers and mergers. 7. SEBI: SEBI has made corporate governance compulsory for certain companies. This is done to protect the interest of the investors and other stakeholders. PROFILE OF THE ORGANISATION LIFE INSURANCE CORPORATION OF INDIA Life Insurance Corporation of India  (LIC) is the largest  insurance group  and  investment company  in India. It’s a state-owned where  Government of India has 100% stake. LIC also funds close to 24. 6% of the Indian Government's expenses. It has assets estimated of  13. 25 trillion (US$264. 4 billion). It was founded in 1956 with the merger  of 243 insurance companies and provident societies. Headquartered in  Mumbai, financial and commercial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 113 divisional offices located in different parts  of India, around 3500 servicing offices including 204 8 branches, 54 Customer Zones, 25 Metro Area Service Hubs and a number of Satellite Offices located in different cities and towns of  India and has a network of 13,37,064 individual agents, 242 Corporate Agents, 79 Referral Agents, 98 Brokers and 42 Banks (as on 31. 3. 011) for soliciting life insurance business from the public. The slogan of LIC is â€Å"Yogakshemam Vahamyaham† which translates from Sanskrit to â€Å"Your welfare is our responsibility†. The slogan is derived from the Ancient Hindu text, the  Bhagavad Gita's 9th Chapter, 22nd verse. The literal translation from Sanskrit to English is â€Å"I carry what you require†. The slogan can be seen in the logo and is written in Devanagiri script below the hands holding the lamp. | Type | State-owned| Industry| Financial services| Founded| 1 September 1956| Headquarters| Mumbai,  India| Key people| D. K. Mehrotra, (Chairman)| Products| Life  and  insurance, investment,  mutual fund| Total assets| 13. 25 trillion (US$264. 34 billion)(2010)| Owner(s)| Government of India| Employees| 115,966 (2010)| Subsidiaries| LIC Housing Finance LIC Cards Services LIC Nomura Mutual Fund| Website| www. licindia. in| OBJECTIVES OF LIC OF INDIA * Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost. Maximize mobilization of people's savings by making insurance-linked savings adequately attractive. * Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to be deployed to the best advantage of the investors a s well as the community as a whole, keeping in view national priorities and obligations of attractive return. * Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders. Act as trustees of the insured public in their individual and collective capacities. * Meet the various life insurance needs of the community that would arise in the changing social and economic environment. * Involve all people working in the Corporation to the best of their capability in furthering the interests of the insured public by providing efficient service with courtesy. * Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective. BOARD OF DIRECTORS Shri D. K. Mehrotra,  (CHAIRMAN, LIC ) Shri T. S. Vijayan,  (Managing Director, LIC ) Shri Thomas Mathew T. (Managing Director, LIC ) Shri Sushobhan Sarker  (Managing Director, LIC ) Shri R. Gopalan,  (Secretary, Department of Economic Affairs,   Ministry of Finance, Govt. of India. ) Shri  D. K. Mittal,  (Secretary, Department of Financial Services, Ministry of Finance, Govt. of India. ) Shri  A. K. Roy,  (Chairman cum Managing Director, GIC. ) Shri M. V. Tanksale,  (Chairman & Managing Director, Central Bank of India ) Lt. General Arvind Mahajan (Retd. ) Shri Anup Prakash Garg Shri Sanjay Jain Shri Ashok Singh Shri K. S. Sampath Shri Amardeep Singh Cheema ORGANISATION STRUCTURE OPERATIONS AWARDS WON BY LIC OF INDIA IN 2011-12 | Readers Digest â€Å"Trusted Brand† in the platinum category. | | Superbrands| | Asian Leadership Award| | LIC has been ranked :† Number One Trusted Service Brand† in the EconomicTimes Brand Equity Survey| | Rated as the â€Å"Most Preferred Life Insurance Company of the year† at the CNBC| | Dainik Bhaskar Group| | Bombay Chamber Of Commerce| | ABCI| | Star News- Customer Centric Brand Award| PROBLEMS OF LIC OF INDIA – The existing insurer, LIC and GIC, have created a large group of dissatisfied  customers due to the poor quality of service. Hence there will be shift of large number of customers from LIC and GIC to the private insurers. – LIC may face problem of surrender of a large number of policies, as new insurers will woo them by offer of innovative products at lower prices. – The corporate clients under group schemes and salary  savings schemes may shift their loyalty from LIC to the private insurers. – There is a likelihood of exit of young dynamic managers from LIC to the private insurer, as they will get higher package of remuneration. – LIC has overstaffing and with the introduction of full computerization, a large number of the employees will be surplus. However they cannot be retrenched. Hence the operating costs of LIC  will not be reduced. This will be a  disadvantage in  the competitive market, as the new insurers will operate with lean office and high technology to reduce the operating costs. – GIC and its four subsidiary companies are going to face more challenges, because their management expenses are very high due to surplus staff. They can't reduce their number due to service rules. – Management of claims will  put strain on the financial resources, GIC and its subsidiaries since it is not up the mark. LIC has more than to 60 products and GIC has more than 180 products in their kitty, which are outdated in the present context as they are not suitable to the changing needs of the customers. Not only that they are not competent enough to complete with the new products offered by foreign companies in the market. – Reaching the consumer expectations on par with foreign companies such as better yield and much  improved quality of  service particularly in the  area of settlement of  claims, issue of new  policies, transfer of the policies and revival of policies in the liberalized market is very difficult to LIC and GIC. Intense competition from new insurers in  winning the consumers by multi-distribution channels, which will  include agents, brokers, corporate intermediaries, bank branches, affinity groups and direct marketing through telesales and interest. – The market very soon will be flooded by a large number of products by fairly large number of insurers operating in the Indian market. Even with limited range of products offered by LIC and GIC, the consumers are confused in the market. Their confusion will further increase in  the face for large number of products in the  market. The  existing level of awareness of the consumers for insurance products is very low. It is so because only 62% of the Indian population is literate and less than 10% educated. Even the educated consumers are ignorant about the various products of the insurance. – The insurers will have to face  an acute problem of the redressal of the consumers, grievances for deficiency in products and services. – Increasing awareness will  bring number of legal cases filled  by the consumers against insurers is likely  to increase substantially in future. Major challenges in canalizing the growth of insurance sector are product innovation, distribution network, investment management, customer  service  and education. SWOT ANALYSIS OF LIC OF INDIA STRENGTHS: * India’s top insurance company and best among Public sector company. * Provide better infrastructure than any other Public company. * Brand Image * Govt Guarantee * Claims settlement * Pan India presence * La rge product portfolio WEAKNESSES: * Average waiting time for the customer is 15 to 20 minutes. * No separate customer care unit * Lethargic Staff * Mediocre Top Bosses Large scale Corruption in Main Office * Ultra-Slow decision making process * Internal problems between Top Management and lower cadre Employees OPPORTUNITIES: * Setup a marketing cell at the local branch. * Ensure that policies are diversified across several customer segments * Pension Market * Health Insurance * Large Real Estate portfolio THREATS: * Growth of private players has led to shifting emphasis from public sector companies. * Internal discord * New players * Red-tapism COMPETITION INFORMATION Main Competitors of LIC * SBI Life Insurance Company * ICICI Prudential Life Insurance Company Birla Sun Life Insurance Company * HDFC Standard Life Insurance Company * Reliance Life Insurance Company COMPARISON 1. Policies and Premium 2. Claims Paid 3. Profit of the year 2011-2012 4. Life Fund Policies and Premium Cla ims Paid Profit of the Year 2010-11 Research Methodology Research is the process of systematic and in depth study to search for a particular subject topic or area of investigation backed by the Collection, Compilation, Analysis or Interpretation of data. It is more systematic study or activity directed towards discovery and the development of organized body of knowledge. Success of Research depends upon the scientific methods used. There are various methods for Collecting the data. But it is not advisable and even possible to used all the methods. Every researcher must know the purpose of his study. For doing research one must set questions accordingly one has to find out and the answers through his own investigation. This Study is conducted to analyze the business ethics and corporate governance in Life Insurance Corporation of India. The data are basically segregated into two parts: a) Primary Data b) Secondary Data. a) Primary Data :- Primary Data is collected during the course of doing experiments in an experimental research. There are several methods for collecting primary data. b) Secondary Data:- Secondary  data, is data collected by someone other than the user. Secondary data are data which are collected by someone in past that includes previous year annual report, magazines, project report etc. For my project report, I  had used secondary data under which I  used annual reports which includes  balance sheets, P;L a/c, and other general information. Limitation of the Project Report Followings are the limitations of the project work taken by me: ? One of the limitations of this project study is of the time limitation. It is somehow difficult to fully know any big organization like LIC of India in this limited time  period. ? Senior managers and others officers in LIC of India are also very busy. They do not have enough time for solving our queries in details. Objective of the study The objectives have been classified by me in this project form personal to professional but here I am not disclosing my personal objectives which have been achieved by me while doing the project. Only professional objectives which are being covered by me in this project are as following- * To know about the business ethics and corporate governance of the organization. * To know the contribution of the organization to the society. * To know about the reliability of the organization. Scope of the Study So I am working on the project Business Ethics and Corporate Governance in LIC of India with the scope that I will get to know: * What ethics has the organization adopted? * What is organization doing for the welfare of the society? How reliable is the organization? Vision and Mission of LIC of India Mission â€Å"Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development. † Vision â€Å"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India. † Core Values of LIC of Ind ia * Caring and Courtesy * Initiative and Innovation * Integrity and Transparency * Quality and Returns * Participation and Relationship Trustworthiness and Reliability Ethics followed by LIC of India * Provide insurance cover and financial security to every insurable person. * Conduct all aspects of business keeping in view its interest and national priorities. * Provide them prompt, efficient and courteous service. * Act as trustees of their funds and invest the fund to their best advantage. * Conduct business with utmost economy and on sound business principles. Social advantages to LIC of India †¢ Providing organizational guidelines for business integrity in turbulent times. Helping employees deal with ethical issues they face daily on the job. †¢ Building solid company teamwork and productivity. †¢ Creating an insurance policy – to help ensure that company policies and procedures are legal. †¢ Avoiding criminal â€Å"acts of omission† which can lower potential fines. †¢ Reinforcing the values associated with quality management, strategic planning, and diversity management. †¢ Promoting a strong public image. Corporate Governance in LIC of India Adherence to good Corporate Governance is an integral part of the philosophy of LIC’s business conduct. The driving forces behind institutionalizing the practices of good Corporate Governance are various proactive measures, initiatives and guidance by the Government, LIC Board and its Sub Committees along with LIC’s Human Resources and Agents. Our practice of operational transparency, information sharing, accountability and ensuring dialogue with all the stakeholders in addition to formulation of value-based policies and practices at all levels made us to imbibe good Corporate Governance. This has enabled us to enhance our Brand Equity, strengthen stake of shareholders and maintain a healthy environment within the organization. This has led to a committed organizational focus on the customer service which in turn has contributed to a good growth in business. CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. Sponsorship of CSR by LIC of India 2009-12 I. Group Schemes and Social Security Claims under various Social Security Schemes: 1, 02,950 claims amounting to Rs. 287. 4 crore paid under Social Security Schemes. a) Scholarships of Rs. 102. 53 crore was disbursed to 13, 78,744 students as a free add on benefit to the children of the members of Janashree Bima Yojana under Shiksha Sahayog Yojana during the year 2010-11. b) Scholarship for total amount of Rs. 81. 85 crore was distributed to 8, 40,568 students as a free add on benefit to the children of members of AABY Shiks ha Sahayog Yojana during the year 2010-11. Social Security Cover: Total 2. 57 crore lives have been given insurance cover under various Social Security Scheme during 2010-11. Aam Admi Bima Yojana Aam Admi Bima Yojana was launched on 2nd Oct. 2007 and a total of 47, 01,814 lives under 17 states were insured during the year bringing the total lives covered under the scheme since inception to 1,77,47,480. II. Investment in Social Sector The total investments of the Corporation amounted to Rs. 12, 66, 539. 04 crore as at 31st March, 2011. The Corporation subscribed an amount of Rs. 65, 521. 83 crore (face value) and Rs. 40, 254. 38 crore (face value) to the Securities of the Government of India and the new loan issues of the various State Governments respectively during 2010-2011. SOCIAL RESPONSIBILITIES: It has been the constant endeavour of the Corporation to provide security to as many people as possible and to channelise the savings mobilised for the welfare of the people at large. To meet this end, the Corporation has been promoting Social Welfare through investments in Infrastructure and Social Sector which includes: * Projects/Schemes for generation and transmission of Power, * Housing Sector, * Water Supply and Sewerage Projects/Schemes, * Development of Roads, Bridges ; Road Transport. The total Investment in these sectors during 2010-11 was Rs. 5,235. 94 crore. The investments by way of Central, State and Other Government Guaranteed Marketable securities, Loans, Debentures ; Equity investments in Infrastructure and Social Sector amounts to Rs. 7,49,150 crore. III. LIC Golden Jubilee Foundation Under ‘Corporate Social Responsibility’, and to commemorate the Golden Jubilee of LIC in the year 2006, ‘LIC Golden Jubilee Foundationâ€⠄¢ Trust was formed with the objective of promoting education, health, relief of poverty or distress and advancement of other objects of general public utility. As on 31. 3. 011 LIC has provided a Corpus of Rs. 90 crore to this Foundation and the interest earned is utilized for funding various projects for charitable purposes. As on date, LIC Golden Jubilee Foundation has supported 165 projects to the extent of Rs. 15. 66 crore. Under this Trust a scholarship scheme is also formulated by name LIC Golden Jubilee Scholarship Scheme of the Trust to give scholarships at the rate of Rs. 10000/- per annum to meritorious students belonging to economically weaker sections of society to enable them to pursue higher education at graduation level. Scholarships were given to 802, 881 and 967 students during the years 2008-2009, 2009-2010 and 2010-11 respectively. ANALYSIS 1. Market Share 2. Goodwill Value Over its existence of around 50 years, Life Insurance Corporation of India, which commanded a  monopoly  of soliciting and selling life insurance in India, created huge surpluses, and contributed around 7% of India's  GDP  in 2006. The Corporation, which started its business with around 300 offices, 5. 7 million policies and a  corpus  of INR 459 million (US$ 92 million as per the 1959 exchange rate of roughly Rs. for a US $,  has grown to 25000 servicing around 350 million policies and a  corpus  of over  8 trillion (US$145. 6 billion). The Economic Times Brand Equity Survey 2010 rated LIC as the No. 4 Service Brand of the Country [6]. Though in the year 2010 is ranked at 4, the organization is consistently among the top rated service company of the India [7]. RANK-COMPANY 1-VODAFONE, 2-airtel, 3-SBI (STAT E BANK OF INDIA), 4-LIC (LIFE INSURANCE CORPORATION). From the year 2006, LIC is continuously winning the Readers' Digest Trusted brand award [8]. According to The Brand Trust Report [9] 2011, LIC is the 8th most trusted brand of India. . Growth Visibility of LIC of India FINDINGS After doing this project I found out that- * LIC of India conduct all aspects of the business keeping in view the interests of the community and the national priorities. * Provide insurance cover and financial security to every insurable segment including the socially and economically weaker sections of the society. * LIC of India provides their customers with prompt, efficient and courteous service. * It acts as trustees to their customer’s funds and invests them to their best advantage. * It builds and maintains enduring relationship with the customers. It also keeps the customers informed about their products and services. * It also promote a sense of participation among the workforce and make th em partners in progress. * It also works towards their job satisfaction and sense of pride. * It provide and environment and opportunities for growth to enable them to realize their full potential. * It also take steps to develop professional skills of the workforce to enable them to handle their assignments more effectively. * LIC is not only the largest but the most popular life insurance company in India.   LIC has gained the consumer trust and credibility over the time that is essential to sustain in the insurance business. RECOMMENDATIONS Though, LIC of India is a very reliable and ethical company. But still there are some points which should be taken care of in future to prevent any kind of risks to the organization: * More Corporate Social Responsibility initiatives should be taken in near future in order to increase its reliability among the society. * Integrity connotes strength and stability. It means taking the high road by practicing the highest ethical standards. Demonstrating integrity shows completeness and soundness in the organization. * Blaming others, claiming victimhood, or passing the buck may solve short-term crises, but refusal to take responsibility erodes respect and cohesion in an organization. Ethical people take responsibility for their actions. * Quality should be more than making the best product, but should extend to every aspect of your work. A person who recognizes quality and strives for it daily has a profound sense of self-respect, pride in accomplishment, and attentiveness that affects everything. From organization’s memos to the presentations, everything it touch should communicate professionalism and quality. * Trust is hard to earn and even harder to get back after you've lost it. Everyone who comes in contact with the organization must have trust and confidence in how you do business. * Managers and executives should uphold the ethical standards for the entire organization. A leader is out front providing an example that others will follow. * Good ethics should be most noticeable at the top. Every employee must be accountable to the same rules. Corporate values or ethics initiative must be â€Å"sold† and â€Å"marketed† aggressively throughout the organization. Every forum and medium should be used to spread the good message. Of course, it will only be credible if the organization is practicing what it preaches. * The ethics fervor should extend to the next generation of employees. The longer it lasts, the more ingrained the principles will become. CO NCLUSION Business ethics present pertinent solutions to the concerns and dilemmas faced by global organizations. Ethical leadership is essential for the long-term survival and success of any organization. In the era of globalization, business ethics considerably influence shareholders, employees, customers, suppliers, competitors, government and civil society. Organizations should focus on the ethical issues faced by them in various functional areas like marketing, finance, human resources, production, ICT etc. The commendable work done by global corporations in inculcating and practicing business ethics underscores the importance of value based leadership in international business scenario. Corporate governance is of paramount importance to a company and is almost as important as its primary business plan. When executed effectively, it can prevent corporate scandals, fraud and the civil and criminal liability of the company. It also enhances a company’s image in the public eye as a self-policing company that is responsible and worthy of shareholder and debt holder capital. It dictates the shared philosophy, practices and culture of an organization and its employees. A corporation without a system of corporate governance is often regarded as a body without a soul or conscience. Corporate governance keeps a company honest and out of trouble. If this shared philosophy breaks down, then corners will be cut, products will be defective and management will grow complacent and corrupt. The end result is a fall that will occur when gravity – in the form of audited financial reports, criminal investigations and federal probes – finally catches up, bankrupting the company overnight. Dishonest and unethical dealings can cause shareholders to flee out of fear, distrust and disgust. BIBLIOGRAPHY * http://www. usinessdictionary. com/article/618/why-is-corporate-governance-important/ * http://www. licindia. in/ * http://www. businessreviewindia. in/top_ten/top-10-business/insurance-top-10 * http://www. licindia. in/GJF_aboutus. htm * http://www. licindia. in/Annual_Report_2011. pdf * http://www. irda. gov. in/ * https://www. google. co. in/ * http://en. wikipedia. org/wiki/Corporate_social_responsibility * http://www. mallenbaker. net/csr/definition. php * h ttp://en. wikipedia. org/wiki/Life_Insurance_Corporation_of_India