According To The Story, David Openly Trusted In God When He Went To Fi

According to the story, David openly trusted in God when he went to fight against Goliath the giant. But the question is, why did he pick up five stones, did he think he would miss? To understand why David fought against Goliath, we need to know what brought them on the battlefield. At that time the Philistines were at war with the Israelites and Goliath daily challenged the Israelite army to a winner-take-all dual. "Then champion came out from the armies of the Philistines named Goliath, from Gath, whose height was six cubits and a span." (1 Samuel 17:4) " And he stood and shouted to the ranks of Israel, and said to them, " Why do you come out to draw up in battle array? Am I not the Philistine and you servants of Saul? Choose a man for yourself and let him come down to me." (1 Samuel 17:8) " Again the Philistines said, " I defy the ranks of Israel this day; give me a man that we may fight together." (1 Samuel 17:10) For some reasons, none of the Israelite soldiers felt up to the challenge. " When Saul and all Israel heard these words of the Philistine, they were dismayed and greatly afraid."(1 Samuel 17:11) David, the youngest son of Jesse was visiting his bro thers on the front line and heard the challenge. He went to King Saul of the Israelite army and offered his services in the name of the Lord. The king unwillingly accepted and David started to prepare. According to the story, David was facing a challenge such as he would never faced before. The destiny of the army of Israel, indeed, the whole of Israel, was at jeopardy and he was going to either be the hero or the loser. Much hung in the balance of his actions. But David did not trust in his own talents and abilities, he placed his trust in God that God would do what God could do in the given circumstances. On the other hand, it is clear David did not just run out into the fight totally unprepared either. First he tried on Saul's armor and hefted his sword, but they didn't fit. " Then Saul clothed David with his garments and put a bronze helmet on his head, and he clothed him with armor. And David girded his sword over his armor and tried to walk, for he had not tested them. So David said to Saul, " I cannot go with these, for I have not tested them." And David took them off."(1 Samuel 17.38-39) The next thing he does is removed the armor, take up the tools he is most comfortable with, and then heads to the nearest stream to pick up five smooth stones for battle. And he took his stick in his hand and chose for himself five smooth stones from the brook, and put them in his shepherd's bag which he had, even in his pouch, and his sling was in his hand; and he approached the Philistine (1 Samuel 17:40). Again, why five stones? Wouldn't absolute trust in God indicate that only one stone was needed? In fact, in the story it only takes one to kill the giant. So why did he take up five stones? Even though David trusted in God, David also knew that to take on any challenge in life, even with God's help, he needed to be as well prepared as he could be. Hence he did his homework. He studied Goliath and his ways. He learned what he could about the Philistines and their methods. And he discovered something very important to his decision to picking up five smooth stones, instead of only one. And what David found out was that Goliath had four brothers. David knew there could be the possibility that when he killed Goliath, his four brothers might try to revenge him. So David prepared himself in advance. He picked up five stones, one for each of the Philistian brothers. According to the topic, David trusted in God what God could do. But he did not leave everything to God. David did what he could do to insure his own capability in the

What it Takes to be a Working Mother essays

What it Takes to be a Working Mother essays I would be confident to say that everyone knows a working mother or two personally. Working mothers are quite the norm and touch every aspect of our modern day society. I am one of the many working mothers in the full time work force today. Personally, I would laugh at the term normal when used in the same sentence as mother. At times my life and is quite the opposite of what others would consider to be normal. I have a full time job and a full time family. I can say that life can be hectic, challenging and rewarding all in a single day at any given time. Each day is filled with the challenge of holding down a full time career and the grace of being a loving mother of challenging children. In the end, the rewards are endless and my goal is clearly to be the best at all I do in my career and for my family. I can personally say that having a full time career and being a single mother is draining for a lack of a better term. I raised my son Alex as a single mother since he was 7 years old. During that time I worked full time as an Escrow Officer in the real estate industry and attended a career college part time. My day started at 5 am with making lunches, checking homework and getting my son off to school. If there was any time left I then felt privileged to enjoy a cup of coffee or do my own hair before rushing out the door. My morning challenge began by taking my son to school, fighting traffic and trying to make a goal of getting it to work on time. My day then continued with the usual rat race of phones, clients and time crunches to the very end. During the day I had to also find time to run down the daily list of personal mental chores in my head. Is my son having a good day and are his grades doing well? Are my finances in order? Do we have milk at home? These were just a few of the normal laundry list of things dancing around in my head daily. I also felt that I wasnt just working a job, but I was working on a career to ...

Net Zero Buildings Research Paper Example | Topics and Well Written Essays - 1750 words

Net Zero Buildings - Research Paper Example These type of designs or buildings are referred to as net zero energy buildings. Typically, these buildings produce energy which is equal to the amount of energy used for every year. Although this technology is new, it is gaining popularity as people realize the need to shift from energy reliance to green economy. Net zero energy buildings are efficient in that they are not only energy efficient, but also cost effective in the long run. Net zero energy is a new term that lacks a definite definition. However, the basic concept is that all definitions imply that this technology is energy efficient. It is very important to understand some of the basic definitions of zero net energy building to comprehend how they operate in terms of energy use. Typically, net zero energy can be described in many ways. Net energy is the energy consumed or generated at a certain site irrespective of the origins of the energy. In a net zero site building, the energy consumed in one year is equal to the ene rgy produced in a given year. On the other hand, source energy is the energy required to extract and deliver energy to the source, which must be accounted for when calculating the zero energy net buildings (Architecture & Sustainable Development, 44). Net zero energy costs refers to the amount paid by the utility which is equal to the amount of money that the owner pays for the energy services as well as energy used throughout the year. The other important concept that is paramount in defining zero energy buildings is the net zero energy emissions. Here, the buildings produce free renewable energy emissions that is equal to emissions produced in energy sources. Successful zero energy ensures that all technologies that ensure energy efficiency are installed. The building is made in such a way that energy requirements decrease space for heating and cooling of water. Likewise, the design increases the efficiency of the furnace and air conditioner such that they use less energy. In addi tion, a solar system for hot water, which acts as a backup for water heater, is ensured in such buildings. Efficient lighting fixtures and energy conserving efficiencies like photovoltaic are also used to enhance the efficiency further (Papadopoulou, 87). Anything that makes use of less energy consumption while making use of the renewable sources at the same time is useful for this design. A thorough research on the design of the building is done by experts to ensure that all materials used up for the building consume less energy at all costs. Typically, implementation of the design requires specialized skills and expertise to ensure that all possibilities of saving on nonrenewable energy are minimized as much as possible while sources of renewable sources are maximized. All the discussed design is very efficient in terms of energy consumption in the future. It is worth noting that zero energy buildings have improved comfort through temperature regulation processes. This is achieved by the process of infiltration and insulation through a variety of processes. Insulation encloses buildings and improves the resistance to heat in and out of the building. This allows the building to remain cool in summer seasons and warn during the winter season. The R value measures in buildings signify a better insulation system. Likewise, these buildings are reliable because

John Dewey Essay Example | Topics and Well Written Essays - 1250 words

John Dewey - Essay Example The community as a whole, through formal laws and customs, codifies behavior that ultimately commits individuals to a specific course of action. Such predictable actions are required for community life. The schools function as socializing agencies, internalizing the child's recognition of social duties and the will to carry them out. Dewey insisted that social ties, like the parent-child relationship, are natural. The mutual responsibilities corresponding to these specific stations are therefore intrinsic and binding. By nurturing the social spirit of the child, an habitual disposition to act out of social service and for the common good will becomes manifest. Pursuit of self-advantage and infidelity to one's social responsibilities is a primary evil according to Dewey. Freedom and social responsibility are not incompatible. Social authority is natural and inevitable, not a necessary limitation on personal freedom. Throughout his writings, Dewey retained the Hegelian insight that man achieves human qualities and fulfillment by participating in the enhancement of community life. Individuals should identify the social good as their own true good by perceiving the values and common interests that bind people together. Their freedom and happiness ultimately depend upon it. Individuals should obey the la... However, in advocating policy changes, they must persuade others voluntarily. The burden of proof is upon them to demonstrate how a specific law or practice fails to serve the common good. Dewey's theory of democracy was designed to reconcile freedom with authority, social stability with the need for reform, and universal standards with specific circumstances. He substantively refined Lockean individualism, which is popularly associated with the modern liberal tradition. Dewey comprehensively applied these insights to the reform of education. Once again, many critics mistakenly identify him with the radical, subjectivist approach of progressive education. Dewey denounced the progressive educator's romantic fetish for the "natural child." The child-centered school provided no standards at all; logically it culminated in anarchy. Proper teacher authority and a well-structured curriculum were indispensable. Dewey argued that, "to fail to assure them guidance and direction is not merely a permit to operate in a blind and spasmodic fashion, but it promotes the formation of habits of immature, undeveloped, and egoistic activity." (Dewey, 1930) Indulging a child's selfish whims would lead to an arrest of growth and the disintegration of personality. The development of mental powers follows certain laws of growth. The fact that a child might desire something does not mean that it is in fact desirable. That judgment can be determined only after critical reflection. (Dewey, 1929) The glorification of the spontaneous and immediately enjoyable also stunted the child's capacity to understand contemporary social life. These students were not socially responsible or cognizant of the forces of industrial civilization. While

Disadvantage of social network and our new generation Essay

Disadvantage of social network and our new generation - Essay Example My main aim was to understand the disadvantages that are associated with its use and come up with solutions that might be helpful. Presently, a large percentage of people use social networking sites and this has increased the interactions between people all over the world. The social networking sites integrate numerous internet aspects like personal profiles, blogs, videos and photos as well as the most current news on different issues and much more (Vermaat 128). D. Preview Statement: Since all the disadvantages are numerous and cannot be covered extensively in a single sitting, we will consider a few of them. To begin with, we will look at how social media may make it easier for identity thieves to carry out their illegal actions and how this may be harmful to the people who use social media. Second, we will dwell on how social media may lead cyber bulling depending on the kind of photos that new generation posts on these sites. Finally, we will consider how social networking can b e addictive to the people who use it and how this may be counterproductive. A. Main Point: Social networks are supposed to improve communication while bringing people closer together and even though it was meant to be advantageous to the people who use it, the main disadvantage that might be associated with it is personal identity theft (Furht 265). 1. The Problem: So that a person can use a social networking site, he or she must avail personal information before getting permission to access the site. Some news and information that has emerged recently has revealed that some of the networking sites have compromised personal information that is associated with their users through allowing advertisers to evade the end user privacy (Sosinsky 398). b. Grounds: When teenagers spend too much time on social networking sites they will not get enough time to deal with his or her schoolwork and this will make them lag behind other students in the class.

Customer Value Management: Advantages and Disadvantages

Customer Value Management: Advantages and Disadvantages Executive Summary What is this report about? This report aims to identify the importance and long term benefits from adopting a customer value management (CVM) strategy for a life insurance company (â€Å"insurer†) in Singapore. It highlights the reasons why insurers need to adopt a CVM strategy and showcases the various means by which the strategies facilitate customer satisfaction which in turn results in profitability for the insurer. By following a well planned CVM Framework, an insurer will be able to analyze customer data, calculate profitability per customer, identify key customer drivers, and segment customers, thus targeting the right customer with the right product at the right time using the right channel of distribution. The report will benefit an insurer already based in Singapore as it highlights best practices and case studies of existing players in Asia and what they are doing to acquire and retain new customers in this region. The insurer can also focus on the key drivers and specific needs of the insurance customer in Singapore and position itself accordingly. Along with the CVM Framework, the analysis and recommendations from our research will benefit a life insurer in determining whether or not it is aptly positioned to penetrate the life insurance industry in Singapore and to a large extent the Asia Pacific market. Research Methodology For the purpose of this report we performed both primary and secondary research which assisted us in refining our objectives as described in Figure 1: Customer Value Management (CVM) Framework Based on our secondary research we described the process flow for a CVM framework for a life insurance company. The successful implementation of a CVM based strategy involved understanding and performing the following key processes: Best Practices of CVM in the Life Insurance Industry Highlights of the best practices followed by insurers, brokers and advisors in the Asia Pacific region are depicted. Introduction What is CVM? In industries where products, marketing promotions and channels are transitory, organizations are increasingly recognizing the importance of customer relationships. Today customer relationships play a very important role in increasing the profits of any organization. There are reports which suggest that customer retention of 5% may increase the profits of a company by 25% or more[1]. An organization experiences increase in profits primarily when the customer makes more purchases thereby offsetting the acquisition cost. Efficient customers over a period of time tend to be more cost effective to service as they are well versed to dealing with the organization. Loyal customers are a source of value for an organization but are scarce in nature and managers must maximize customer value and formulate strategies to successfully measure and align it with the organizations goals. As we evolve from product centric to customer centric marketing, a set of best practices are emerging to measure and increase the lifetime of the customer. These practices are defined as Customer Value Management[2]. CVM in the Life Insurance Industry The life insurance industry, long considered a pillar of stability, is now facing major challenges stemming from various internal and external factors: With increased competition as a result of globalization and the de-regulation of markets worldwide, several new entrants have entered the playing field making customer acquisition and retention all the more challenging. These new entrants include financial institutions such as banks and security firms. Advent of new technologies is challenging the effectiveness of previously established product distribution channels and has given the customer access to shop for life insurance products from multiple web based platforms such as www.policybazaar.com in India and www.compuquotes.com in the United States, with each offering different quotes for the same product offered by various organizations (life insurance companies)[3]. Rising costs as a result of high number of fraudulent activities is declining the life insurance industrys profitability. The strategies deployed by organizations to tackle these challenges will have a profound effect on both short and long term profitability. One such strategy that can make a positive impact on the profitability of an organization is Customer Value Management. Customer Value Management (CVM) from a life insurers perspective revolves around the identification of each profitable customer. Upon identifying this customer, CVM techniques can be used to measure the return on investment made by the organization in acquisition, growth and retention of the profitable customer. If the return on investment from the profitable customer is positive then the insurer should further implement strategies to maximize the lifetime value of its relationship. At the same time CVM solutions also facilitate an organization in: Segmenting customers by similar risk profiles Improving cross selling and up-selling programs Improving the effectiveness of the marketing campaign Maximizing profitability The successful implementation of a CVM strategy also involves the identification of the following: Right Customer Objective Identifying profitable customers and reducing customer acquisition costs. Traditional Practice Acquire competitors customers irrespective of profitability from each customer. Current Practice Acquisition of only profitable customers likely to generate repeat business. Example Consider two life insurance companies, one that focuses on providing life insurance products to â€Å"safe customers† and the other serves customers that fall in the high risk category; individuals engaged in adventure sports and activities such as mountaineering, cliff diving, cave exploration etc. The â€Å"safe customer† company would be acquiring the wrong customers by advertising in adventure sports magazines. Advantages Lower customer acquisition costs Higher profitability per customer Right Product Objective Providing the right customer with the right product thereby increasing customer retention and reducing costs. Traditional Practice Providing an array of life products irrespective of the customers preference and need resulting in customer dissatisfaction and attrition. Current Practice Providing only those products as desired by the right customer by segregating them on the basis of demographics, purchasing habits, lifestyle and risk factors. Example In Europe, life and health insurance companies determined that majority of their customers wanted to be fit and live a healthier lifestyle. Insurers provided their customers with a product which included incentives such as discounts on health club memberships and seminars on nutrition and healthy eating. Advantages Increase in customer retention Increase in cross and up selling opportunities Decrease in the number of claims filed Right Channel Objective Having identified the right customer and the right product for that customer, approaching the customer using a preferred channel of distribution. Traditional Practice Direct-response[4] marketing such as direct-mail and telemarketing targeted towards all customer segments including those that preferred a face-to-face meeting. Before the advent of Web 2.0 organizations relied on marketing intermediaries such as agents and brokers. Current Practice Besides using traditional direct-response marketing media and intermediaries, organizations have also launched web portals, comparison websites, and formed distribution alliances with financial institutions to sell products. Examples A study conducted by a British firm, Datamonitor in 2007, revealed that aggregators and comparison websites account for instigating 22% of individuals seeking motor insurance[5]. Likewise websites such as www.policybazar.com in India target price conscious customers seeking better deals online. Another study by Datamonitor revealed that in 2007, 37% of those individuals that purchased insurance online changed their provider upon renewal as compared to 17% that purchased through call centers[6]. The recent bank assurance alliance between Prudential Corporation Asia and UOB Life Insurance Limited will give Prudential the opportunity to sell its products to UOB customers in Singapore, Thailand and Indonesia. Advantages Offer more comprehensive life insurance products through direct-response marketing methods. High response rates from personalized direct-response methods Well informed customers and higher customer retention Right Timing Objective To make the sale and to win a customer for life by marketing the right product at the right time. Traditional Practice Organizations either marketed the right product at the wrong time or were unable to identify the right time to promote a product. In either case the customer was not acquired and/or retained. Current Practice With the use of sophisticated data analytic tools, organizations are able to predict customers future purchasing habits with the passing of each life stage. They then target the customer whose life insurance needs change due to: Marriage Birth of child Schooling of child Marriage of child Retirement Example Customer A bought a life insurance policy a couple of years ago and declined coverage for her immediate family citing lack of disposable income. However, Customer As preferences may have changed now and assuming her experience with the product, customer service, and the insurer has been satisfactory thus far and she has a higher disposable income than she did earlier, she can be contacted again for buying life insurance for her family. Advantages Increased cross and up selling opportunities Increased customer retention Decreased customer defection Customer Perception of the Life Insurance Industry Life insurance products are considered by many as complex yet much needed to minimize risk. Organizations have come up with products that meet the needs of the individual customer, however because the insurance contracts are fraught with complex legal terms, the customer ends up perceiving the life insurance industry as one that is not transparent and â€Å"user-friendly†. Furthermore, customers consider insurers as organizations that are only interested in ensuring that their customers pay their policy premiums on time; however when its time for the insurer to resolve a claim or a dispute the turnaround time is slow resulting in frustration and anxiety for the customer. To cite an example of customer perception towards the insurance industry, an insurance survey by IBM and University of St. Gallen in Switzerland revealed that roughly 60% of the participants[7] did not completely trust their insurance company. Because of such negative perceptions the insurer faces a high rate of customer defection. As the cost of acquiring a new customer are much more than the cost involved in retaining an existing one, insurers are coming up with innovative methods to build and foster a long term relationship with their valuable customers: Creating trust and reliability: More than 80% of the participants in the IBM and University of St. Gallen insurance survey placed a high value to honesty and trustworthiness and building a solid reputation in the market has become ever so more important for an insurer. Organizations are taking actions to build trust and credibility by: Modifying the legal jargon in insurance contracts to simple, brief and layman terms. Remodeling the direct selling agents compensation package to include commissions based on parameters such as repeat sales and customer retention, thereby encouraging them to act more customer oriented. Establishing social communities such as interactive web portals, blogs and chat forums, thereby fostering communication with the customer. This strategy has also given insurers with invaluable information about the customers evolving needs. Creating an ensemble of touch-points: This strategy involves personalizing the approach to customers and making meaningful touch points available to generate a positive and rewarding experience for customers and the organization. For instance, price sensitive customers rely on the Internet when shopping for a life insurance policy, whereas relationship oriented customers seek advice from insurance agents / brokers and banks. Various touch-points available for customers of a life insurer can be bucketed as depicted in Figure 6. Therefore, it is essential for an organization to plan carefully before deploying or cutting back on any of the above touch points. For instance, in the first quarter of 2009 tied agency channels contributed to 59%[8] of total new business generated in Singapore. If an insurer were to downsize its tied agency channel it could result in a high rate of customer defection for a customer segment that seeks a personal relationship based on reliability, sound advice, and competence. Being flexible to the customers needs: The insurer should make room to tailor the offerings to the specific requirement of the profitable customer. Furthermore, in the life insurance industry, multiple insurers offer similar products but the ones that offer flexibility are the ones that are able to hold their market position as well as attract the competitors customers. In North America and Europe, customers have identified various aspects of flexibility from their insurance providers. These aspects are covered in Figure 7. As customers in the Asia Pacific region become more and more sophisticated for their life insurance needs they will require similar levels of flexibility (as noted above). Need for CVM in the Life Insurance Industry Based on the challenges faced by players in the global life insurance industry, we have identified the Strengths, Weaknesses, Opportunities and Threats (SWOT) typical to the industry and the impact of such on the insurer as well as the customer. The objective of the exercise is three-fold: Firstly, identify the key strengths, weaknesses, opportunities, and threats in the life insurance industry. Secondly, identify the impact of the strengths, weaknesses, opportunities, and threats on the insurers and their customers. Thirdly, to justify how an insurer can implement strategies and solutions to mitigate the weaknesses and threats and capitalize on strengths and opportunities. STRENGTH KEY STRENGTHS IMPACT ON INSURER IMPACT ON CUSTOMER STRATEGY Consolidated customer and marketing databases. More accurate prediction of changing customer needs Faster turnaround time in resolving claims and disputes. Customer has products that meet insurance/investment needs. The systems and customer data should be shared across the organization to promote innovation in business solutions. Multiple products offerings Targeting and acquiring various customer segments Increases customer retention by cross selling and up selling Customers have multiple products to meet their changing needs and circumstances. Identify the most profitable customer segment and retain them by offering innovative products and quality service. Multiple distribution channels. Increased profitability. Multiple distribution channels have given access to a wider customer base. Customers obtain product knowledge from their preferred touch points. Increases brand perception and product knowledge. Target specific customer segments through cost effective and customer preferred distribution channels. Flexible payment options (ex. payment in installments, cash, cheques, and credit/debit cards). Increases revenue generation, customer acquisition, and retention. Customer values flexibility and convenience and remains loyal. Marketing strategy to showcase the differentiating factors not provided by competitors. WEAKNESS KEY WEAKNESSES IMPACT ON INSURER IMPACT ON CUSTOMER STRATEGY Important customer data resides in silos resulting in poorly defined customer segments. Customer information resides with different departments preventing a holistic view of the customer. Wrong products sold to the wrong customers resulting in customer dissatisfaction. Consolidate and analyze customer data residing in various systems to identify profitable customer segments likely to do repeat purchases. Lack of information sharing across departments marked with territoriality and fierce internal competition. Results in weak product orientation and ineffective cross selling and up selling opportunities. Results in defection to competitor as insurance needs are not satisfied. Develop a common repository of customer data to provide various departments with the ability to develop products and provide quick response to changing needs. Lack of trust and reliability on the insurer. Negative reputation leads to mass customer defection. Un-satisfied customers pass on the poor experience to prospective customers Promote social computing communities such as blogs, chat forums. Also provides value add information about the customer. Snail paced claims and dispute resolution. Higher costs and time to serve the customer as multiple follow ups are required. Increased customer frustration due to lengthy dispute resolution period. Implement analytical models to predict and quantify the likelihood of claims. Measure and reward employees on time taken to resolve customer disputes. Insurance contracts are loaded with complicated insurance jargon. Increases in cost per customer Customer dissatisfaction and defection Simplify insurance contracts Recruit knowledgeable agents to assist customers. Insurance agents are primarily commission driven and are not customer oriented. Results in tarnishing the insurers reputation. Customer perceives a negative image of the insurer when faced with agents that are solely motivated by profits. Remodel agent compensation to include commissions based on parameters such as repeat sales and customer satisfaction surveys. Make customer centric training programs mandatory for all agents. OPPORTUNITY KEY OPPORTUNITIES IMPACT ON INSURER IMPACT ON CUSTOMER STRATEGY Tie-ups with banks and other FIs will give access to a wider customer base. Lower cost of acquisition of new clients. Lower operational costs. Financial and protection needs are met by a single channel. Develop bancassurance agreements to target a banks customer base. Un-tapped markets such as HNWI and Takaful (Islamic insurance). Access to a wider client base resulting in increase in profitability. Positive brand building exercise.  · Ability to provide protection for themselves and family.  · Diversification of investment strategy for HNWI.  · Launch products to non-mass market segments.  · Organize brand awareness campaigns in locations that are frequented by such segments. Deregulation has opened new markets. Insurers have access to a wider customer base. Competitive premium to the customers. Market entry strategy for de-regulated countries. Since the 3rd quarter of 2009, new business premiums in Singapore have been consistently increasing[9]. Opportunity to re-acquire customers. Multiple product and service offerings at competitive prices. Acquire customers that defaulted during the financial crisis by providing coverage at the same premium or payment in installments. Increased competition from the Internet. High costs involved in changing and/or updating technology platforms. Customers have a clearer idea of product offering and higher bargaining power over insurers. Provide high quality service to convert a one-time online sale by cross selling and up selling. THREAT KEY THREATS IMPACT ON INSURER IMPACT ON CUSTOMER STRATEGY Deregulation of the insurance industry has increased competition from new entrants. Lower profit margins and increased customer acquisition and retention costs. Financial and protection needs are met by a single channel. Joint venture, merger or acquisition with/of a bank and other financial institutions. Increased competition from the Internet. High costs involved in changing and/or updating technology platforms. Customers have a clearer idea of product offering and higher bargaining power over insurers. Provide high quality service to convert a one-time online sale by cross selling and up selling. Develop a powerful and customer friendly web platform. Rising costs due to increase in fraudulent activities. Lower profit margin and increased operational cost. Customer dissatisfaction with high turnaround time for claim resolution. Implement CDI tools to reduce duplication of records and redundant customer data. New government regulations may result in lowering profit margins for the insurer. Inability to serve customer segments resulting in declining profit margins. Customer has limited option of products to choose from or has to pay higher premiums. Develop products that abide by government regulations but at the same time are able to meet customer needs. Implementing a CVM Framework for a Life Insurer Customer Value Management (CVM) provides a systematic methodology of modeling the value proposition relative to competition by putting process improvements into operation and communicating these improvements back to the customer in terms of better service and value add. From a life insurance organizations point of view, customer value management can be structured into the following three components[10]: Analysis Planning Continuous Improvement The three components interact with each other to drive the value proposition of the customer. The components align business operations with the value proposition and create specific action plans to help realize the customer value over a lifetime. CVM components can be further broken down in to a structured process as shown in Figure 8. This is done to deliver the specified objective of implementing a customer value management strategy for a life insurance company (insurer) The phases explained in Figure 8 are summarized in the below section. Analysis The Analysis Phase consists of analyzing data and formulating strategies using data mining techniques to improve the customer profitability. The key processes which are included in this phase are: Data Quality and Single Customer View[11]: To improve profitability from the customers, analysis of the customer data stored in various systems is performed. Thus life insurance companies need to integrate them to understand the customer trends and purchase patterns. Life-time Value Model: Once the data is integrated, it is used to calculate the life time value of existing customers using various available methods. Discounted Cash Flows (DCF) method is one such model. Key Drivers: Key value drivers for a life insurer are determined by analyzing the data from the single customer view and the life time value model. Identifying key drivers that affect the purchasing decisions of a customer and the method by which an organization delivers on those drivers forms an important part of the Analysis Phase. Segmentation: Based on the customer values generated by lifetime value model, the customer segments are segregated into current and future low to high value customers. Further these customers are also segmented based on demographics, customer behavior etc. to capitalize on the current and future trends in the life insurance industry Planning The Planning phase ensures that the information collected after analyzing the data is valid and relevant for improving the customer value. Strategies at product and market level are formulated and implemented in planning phase. The tasks associated with planning phase are: Planning at the Business and Product/Market Level: Campaign planning based on customer segment is associated with planning at product and market level to implement the overall strategy of the organization. Campaign planning may include marketing plans, product development, cross-selling or up-selling of products to existing customers. After the completion of campaign planning, campaigns actions are implemented with intend to improve the customer profitability. [12] Key performance indicators: Based on the overall strategy, key performance indicators are identified based on financials, marketing performance, customer satisfaction, customer retention. These indicators allow insurers to measure the outcome of various actions on a periodic basis. Continuous Improvement Continuous improvement phase includes updating of action plans and strategies to make it more efficient and effective to achieve the organizational objectives. Objectives of continuous improvement are achieved by: Continuous performance measurement: The performance indicators established in the planning phase should be reviewed on a periodic basis to avoid any deviations from the stated objectives of each business unit. Process Improvement: Based on the outputs generated from the actions plans and performance indicators implemented in the planning phase, associated processes and action plans are updated to make it more efficient in achieving the stated objectives. Each phase will be dealt separately and in more detail in the following sections of the report. Analysis The Analysis Phase consists of analyzing data to identify the key drivers which affect the value of a customer and segment customers to improve the profitability of the insurer. The analysis of data establishes a relationship and a trend between the internal information and the market value of customers. This phase includes an analysis of the following processes: Data Quality and Single Customer View Over the past decade, insurance companies have gradually started shifting their focus from policy sales, pricing, and claims to understand the needs of the customers and the possibility of repeat purchases of additional products from these customers. Insurance companies have now started servicing and understanding the customers needs from a holistic perspective and further the insurers efficiency to service their customers is dependent on the information provided by the customers on the use of specific products and services. The information solicited from customers is used by insurance companies in developing new and re-modeling old products, by call customer representatives in providing quality service, and by marketing departments in selling new products to segmented customers. To achieve the above, insurance companies have started stressing on the need for customer data integration (CDI). A typical data integration solution (Figure 9) should encompass the following subsystem in the life insurance organization. An insurer needs to integrate various components of an insurance policy management solution into one and use data mining techniques to recognize the current customer trends, purchase patterns and fraudulent activities. Customer data integration in the insurance industry creates growth in the companys top line by: Improving the design of insurance products and pricing; Increasing the success rate of marketing campaigns; and Improving the overall customer experience resulting in maximization of the customers life time value Similarly, customer data integration also makes a positive impact on the bottom line of a life insurance company by: Streamlining the service centers and leading to shorter call times, resulting in increased customer profitability; and Savings in several operational areas such as claims Figure 10 displays the benefits of customer data integration as it applied to the organization. To further elaborate on how insurers can leverage from customer data integration let us demonstrate its effect on the following areas of the company: Product and Service Offerings: A typical product development process at an insurer is described in Figure 11. The figure highlights the data required from various sub-systems for product development. Data integration reduces the time required for product development using improved analytics. In short the insurer can have the first mover advantage by reducing the product development lifecycle. Insurers also spend a significant amount of time in customizing enrolment materials, benefit summaries, and claim submission forms and reports for a major customer. These activities have a high cost as they require the services of sales, underwriting, compliance, and legal and can wipe out the entire cash flows and profit expectations of the insurer. Here, data integration plays a significant role in formally defining, marketing and tracking these services and developing them. Data integration allows the insurer to integrate information about its target customers and their use of high cost services and bundles these services with the product to improve the pricing model. This enables an insurer to recover its costs incurred in designing the product and services while providing high end customers with value added services at the same time. For example, Eurovida[15], a Portuguese life insurer and part of Grupo Banco Popular faced a challenge of providing its customers with the right products in the most cost effective ways while driving growth, profitability and shareholder value. It was only after they deployed an activity-based management system were they able to consolidate customer and product data thereby determining the profitability of products and the costs incurred in delivering the product and service to the target customers. Marketing and Sales: An immediate advantage of customer data integration in the life insurance industry is the ability to detect and consol

Global Warming Essay -- Greenhouse Effect Climate Change

Global Warming The humanity is currently facing one of its biggest problems ever. Indeed, the Earth is warming and consequences might be devastating for the future generations. There is a general agreement among scientists that Earth's climate is being affected by industrial society. Industry affects global climate by releasing greenhouse gases (GHGs). The most significant GHG is carbon dioxide (CO2). While some GHGs occur naturally, others are released in the atmosphere by certain human activities such as the burning of fossil fuels, deforestation activities and some agricultural practices. These activities affect climate by increasing the so-called 'greenhouse effect'. GHGs concentrate in the Earth's atmosphere and trap heat by blocking some of the long-wave energy the Earth normally radiates back to space. The effect is weather and climate changes. The potential consequences include more extreme weather, dislocation of agricultural and commercial activities, expansion of desert regions, a rise i n sea levels, and damaged natural habitats and ecosystems. All of these threaten the natural capital that provides the economy's resource base. Mankind pours more than 6 billion tons of carbon dioxide each year. If nothing is done, the total is expected to be 20 billion tons by 2050. Therefore, we must act now. Since the 1980's the global concern about climate change has been rising and politics have begun to address the issue through international co-operation. Nation states have set ambitious goals through the Kyoto protocol, but international regulation is not an easy thing and the structure that rules it is perhaps not well adapted for the issue of Climate Change. Even if the regulations are not yet finalised, some companies recognise business reasons to reduce GHG emissions, which go beyond the obvious concern of protecting the natural environment. The Gilette Company is one of those that have taken measures to use energy in an efficient manner. The first international conference on environment and development was the 'Rio Earth Summit' in 1992, where the United Nations Framework Convention on climate Change (UNFCCC) was created. Today, 181 governments and the European Union (EU) are parties to the Convention. They meet regularly at the annual Conference of the Parties (COP), where they review the implementation of the Convention and continue talk... ... Web sites  · www.guardian.co.uk  · www.lemonde.fr  · www.sovereignty.net  · www.unfccc.org  · www.ipcc.ch  · www.bsr.org  · www.gilette.com (1998 Report on the Environment, Health and Safety) Books  · French, Hillary, 2000. Coping with ecological globalization (State of the world 2000)  · White, Brian Richard Little, and Michael Smith, 1997. Issues in World Politics, Chap. 11: Vogler, John. Environment and Natural Resources. London: MacMillan Press Ltd Articles  · Elliot, Larry. 'After the failure of international nerve at The Hague, it is surely time to set up new global institutions'. The Guardian, Nov. 29, 2000  · O'Neill Packard, K. and Reinhardt, F. 'What every executive needs to know about Global Warming'. Harvard Business Review, July-August 2000. pp. 129-135  · 'On Thin Ice - Cold feet and hot air on Global Warming'. World Press Review, February 2001: - Petitjean, Gerard. 'The 21st Century: Hot, Hot, Hot'. Le Nouvel Observateur, Paris, France, Nov. 23, 2000. - Radford, Tim. 'A Grim Picture'. The Guardian, London, England, Nov. 15, 2000. - Joku, Harlyne. 'Sea Levels Rising'. Gemini News Service, London, England, Nov. 3, 2000.

Research Proposal Social Work Essay

Document 1 of 1 Southern China talk fest a hot air blow-out Author: van der Kamp, Jake ProQuest document link Abstract (Abstract): Yes, they had plans, 30,000km of new superhighways fanning out from Guangzhou and 10,000km of new railway lines with trains speeding at 200km per hour to {hellip} well {hellip} ahem {hellip} but let us have no talk here of the mbarrassment Shanghai has suffered with Just a short hi-tech line to its airport. Not to worry. AsiaWorld-Expo is not being built to showcase Hong Kong products or designs. It will tout mainland wares in competition with several even bigger centres in the mainland. There is one Just across the border, big and empty and hungry for business. Clearly there was a call on AsiaWorld-Expo here to Justify its existence and it has heeded the call. In the first year of operation the centre will contribute a $2. 8 billion economic return, says the advertorial, again and again, in headlines, captions and testimonials. I think I have warned you before that â€Å"economic return† is pure magic. Take a number, any number, wave your wand, and you can have any other number you want, in this case 3. 67. Research, yes, diligent economic analysis, has proved to AsiaWorld- Expo that every dollar spent at its facility will, poof, create another $3. 67 spent elsewhere in Hong Kong. Links Linking Service Full text: ON PAGE 3 of this newspaper yesterday we discussed the hopes of 1 1 aspirants to a crowning achievement of commercial success and career satisfaction. No, I am not referring to the photograph at the top of the page of 11 Miss Hong Kong ontestants pictured in swimsuits at a waterfall in Kenya, although it was definitely more absorbing and probably more meaningful. I had in mind (when that mind could be distracted from the photo) a wodge of print underneath about a hot air blow-out from nine mainland provinces plus Hong Kong and Macau in what is termed the Pan- Pearl River Delta forum. It was the third day running in which we provided this evidence of why some trees should be left to grow in the forest rather than be turned into newsprint. Did you know that Guangdong party boss Zhang DeJiang would like to see his rovince turned into a key world manufacturing base, Hong Kong into an international business services centre and Macau into a gambling tourism hub? I understand that Mr Zhang also wants Marco Polo to visit China and hopes that Christopher Columbus will soon discover America. You probably saw some of the television coverage with one blue- suited lookalike after another taking turns at the podium to tell us to great applause that the sea is wet and the desert is dry or messages of equal revelation. Interspersed was so much self-praise that you would think this was Delia School of Canada. But yes, they had plans, 30,000km of new superhighways fanning out from Guangzhou and 10,000km of new railway lines with trains speeding at 200km per hour to {hellip} well {hellip} ahem {hellip} but let us have no talk here of the embarrassment Shanghai has suffered with Just a short hi-tech line to its airport. Stop me, however. Did not the word come down from Beijing recently that a halt must be called to big infrastructure projects in order to prevent the economy from overheating? I fully recognise that the further south you go in the mainland the less weight that Beijing’s edicts carry and I now that these big plans are still meant only to occupy time at talking shops. But surely a nod to central authority was required here. If we were to be so cavalier in Hong Kong about central government directives, they might call it subversion. Here is an idea for you, fellows. If you really want southern China to prosper, then implement all the promises Page 1 of 3 you made when entering the World Trade Organisation and do it as soon and as fully as possible. Stay off the podiums, spend no money but open your provincial economies and success will come your way. It is all you need to do and if you do not o it, then the story will continue to be what it has been so far – Hong Kong and the Ten Dwarves. And as to that photo, fourth from the left for the crown and second from the right for Miss Photogenic. There you nave my picks and let us be gratetul that those 1 1 not in the picture stayed fully clothed. HOT AIR MERCHANTS are not only to be found across the border. On Tuesday we carried a full-page advertorial for AsiaWorld- Expo, the new airport exhibition centre that is scheduled to open in December next year. You know the story. This was something first mooted for construction by the private ector at a cost of less than $1 billion. The fgure has now risen to $2 billion and it is to be picked up by the public purse. No, pardon me, the private sector can put in another $2 billion if it wants. Uh-huh. The people who run the big exhibition centre on the Wan Chai waterfront are none too happy with all this. They worry that there is not enough business to go round and that we are cannibalising earlier investments in the exhibition trade. Not to worry. AsiaWorld-Expo is not being built to showcase Hong Kong products or spent elsewhere in Hong Kong. It may be true. Here I come to spoil the magic, owever. If we instead spent that dollar on something else, it would create this same multiplier effect and, if we spent it to better use, that multiplier would be higher than 3. 67. The advice that your mother gave you has not been improved by voodoonomics. Spend your money as wisely as you can if you want the greatest benefit to yourself. The appeal to voodoonomics should only confirm to you that the money is not well spent. Publication title: South China Morning Post Pages: 18 Number of pages: O Publication year: 2004 Publication date: Jun 4, 2004 year: 2004 Publisher: South China Morning Post Ltd.

Corruption in Sri Lanka

Corruption in Sri Lanka Free Online Research Papers The Offence of Corruption Bribery Act 70. Any public servant who, with intent, to cause wrongful or unlawful loss to the Government, or to confer a wrongful or unlawful benefit, favour or advantage on himself or any person, or with knowledge, that any wrongful or unlawful loss will be caused to any person or to the Government, or that any wrongful or unlawful benefit, favour or advantage will be conferred on any person- (a) does, or forbears to do, any act, which he is empowered to do by virtue of his office as a public servant; (b) induces any other public servant to perform, or refrain from performing, any act, which such other public servant is empowered to do by virtue of his office as a public servant; (c) uses any information coming to his knowledge by virtue of his office as a public servant; (d) participates in the making of any decision by virtue of his office as a public servant; (e) induces any other person, by the use, whether directly or indirectly, of his office as such public servant to perform, or refrain from performing, any act, shall be guilty of the offence of corruption and shall upon summary trial and conviction by a Magistrate be liable to imprisonment for a term not exceeding ten years or to a fine not exceeding one hundred thousand rupees or to both such imprisonment and fine. The analysis of section 70 of the Bribery act reveals that the offence of corruption is constituted by the following elements. 1. Public Servant 2. Committed the offence with the intention of causing the following; a. Wrongful or unlawful loss to the government; b. Wrongful or unlawful benefit, favour or advantage on himself or any other person 3. Or, Committed the offence with the knowledge that the following will take place; a. Wrongful or unlawful loss to the government or to any person b. Wrongful or unlawful benefit, favour or advantage on any person 4. Does one or more of the following; a. Does or forbears to do, any act which he is empowered which he is empowered to do by virtue his office as a public servant; b. induces any other public servant to perform, or refrain from performing any act, which such other public servant is empowered to do by virtue of his office as a public servant; c. uses any information coming to his knowledge by virtue of his office as a public servant; d. participates in the making of any decision by virtue of his office as a public servant; e. induces any other person, by the use, whether directly or indirectly, of his office as such public servant to perform, or refrain from performing, any act The mens rea element embedded in the definition warrant a further analysis. According to G.L. Peiris it is sufficient that the accused foresaw that this effect would be caused by the act which he resolves to commit . So long as the accused, with foresight of the consequences, has embarked on a particular course of conduct, it is immaterial to the issue of liability that the accused did not desire the consequences of his conduct. An objective attitude to intention is suggested by the principle that a man is deemed to intend the natural and probable consequences of his acts. However, a subjective approach to intention emerges unequivocally from the judgement Devasundara v Alahakoon . In the recent House of Lords decision on intention, R v Woollin , it was held that the jury must decide whether the accused intended the consequences of his action if the consequence was a virtual certainty and the defendant recognized it as such. In Westminster City Council v Croyagrange Ltd it was held that it was open to the tribunal of fact, when knowledge on the part of a defendant is required to be proved, to base a finding of knowledge on evidence that the Defendant had deliberately shut his eyes to the obvious or refrained from inquiry because he suspected the truth but did not want to have his suspicions confirmed. Research Papers on Corruption in Sri LankaUnreasonable Searches and SeizuresComparison: Letter from Birmingham and CritoThe Project Managment Office SystemBringing Democracy to AfricaStandardized TestingPETSTEL analysis of IndiaQuebec and CanadaRelationship between Media Coverage and Social andAnalysis of Ebay Expanding into AsiaHonest Iagos Truth through Deception

Free Essays on FCC Restrictions On Media Ownership

FCC Restrictions on Media Ownership Introduction Without a doubt, the most dominant influence in today’s American society must be the media. Ninety-eight percent (98%) of Americans have at least one television in their households and sixty-seven percent (67%) have two or more televisions . Radio stations broadcast frequencies that are picked up in our homes, our cars, at work, and even while exercising with a walk-man strapped to our waists. Newspapers and magazines catch our eyes in every aisle of every store offering eye-candy to persons of every sort with their fifty-point bold typed headlines and glossy full colored photos. And when all this fails to satisfy our hunger and curiosity for input, we can always turn to that boundless system of world wide web connections we affectionately call the internet, where with one fail swoop of the mouse we can instantly access topics of interest ranging from which movies Saddam Hussein keeps in his vast DVD collection to the most current death tolls of the S.A.R.S. epidemic. The Issue â€Å"Well, so what,† some might say, â€Å"what’s the problem with letting the media spoon feed us what we want?† Put simply, the media is our most relied upon porthole to the world that surrounds us. It is what we rely on to gather facts and information, which affects our own daily decision making activities. It is the media coverage of the candidates that we use to shape our decisions on who will get our vote for our children’s school board or who we elect to be the next President of our nation. The media’s inherent ability to influence the minds of its subscribers should not, and accordingly has not, been taken for granted†¦enter the FCC. The Federal Communications Commission (FCC) is an independent United States government agency, directly responsible to Congress. The FCC was established by the Communications Act of 1934 and is charged with regulating interstate and international co... Free Essays on FCC Restrictions On Media Ownership Free Essays on FCC Restrictions On Media Ownership FCC Restrictions on Media Ownership Introduction Without a doubt, the most dominant influence in today’s American society must be the media. Ninety-eight percent (98%) of Americans have at least one television in their households and sixty-seven percent (67%) have two or more televisions . Radio stations broadcast frequencies that are picked up in our homes, our cars, at work, and even while exercising with a walk-man strapped to our waists. Newspapers and magazines catch our eyes in every aisle of every store offering eye-candy to persons of every sort with their fifty-point bold typed headlines and glossy full colored photos. And when all this fails to satisfy our hunger and curiosity for input, we can always turn to that boundless system of world wide web connections we affectionately call the internet, where with one fail swoop of the mouse we can instantly access topics of interest ranging from which movies Saddam Hussein keeps in his vast DVD collection to the most current death tolls of the S.A.R.S. epidemic. The Issue â€Å"Well, so what,† some might say, â€Å"what’s the problem with letting the media spoon feed us what we want?† Put simply, the media is our most relied upon porthole to the world that surrounds us. It is what we rely on to gather facts and information, which affects our own daily decision making activities. It is the media coverage of the candidates that we use to shape our decisions on who will get our vote for our children’s school board or who we elect to be the next President of our nation. The media’s inherent ability to influence the minds of its subscribers should not, and accordingly has not, been taken for granted†¦enter the FCC. The Federal Communications Commission (FCC) is an independent United States government agency, directly responsible to Congress. The FCC was established by the Communications Act of 1934 and is charged with regulating interstate and international co...

Booking system Lab Report Example | Topics and Well Written Essays - 1000 words

Booking system - Lab Report Example Booking system The managers should adopt a strategic perspective to utilise technology in tourism. There should be excellent communication between tourist boards, agencies and convention bureaux. The managers should ensure that they improve facilities, legitimate distribution channels, and transport access to meet the needs of the growing global trade in the industry. Conferences are extremely vital since the organization need to continue generating revenue. The conference will provide valuable information regarding the management and implementation of a new booking system for the industry and, therefore, very vital for managers to attend. The buyer This refers to one of the main stakeholders who operate in the MICE industry. They are the planners, and may refer to the organization that holds the event, which is a non-routine occasion. With the help of the intermediaries, the buyer organizes an event meant to educate people. Buyers include corporate who are profit oriented, associate who are not in terested in profit, the government, and others who include entrepreneurial and academic buyers. Characteristics of the buyer The buyers identify the emerging issue in the market that existing organizations should adopt. They then create an event to communicate the information to the people. They sell places to the people who have an interest in attending. The buyers have an orientation to provide services to members. The buyers can be either international or national provided they possess the necessary experience. They should select destinations in rotation and have a long decision making process. The delegate Refer to the people who attend an event and may include presenters. An event is a non-routine occasion that people set apart from daily life activities. The Delegates are the consumers of the information that the buyers present. Characteristics of the delegates They should expect the buyers to charge them a fee to meet the costs of the event. The buyers should consider the del egates when deciding the venue to hold the event so that it takes place in a favourable place where the delegate wishes. This will increase the probability of the attendance of the venue. They expect the buyers to charge them a sensible price, and hence the buyers have to sensitive when deciding the price to charge them. They also expect quality delivery of information regarding the benefits of the new booking system in the industry. The buyers have a duty to ensure that they analyze and explain various areas of concern. Suppliers These comprise destinations, venues, and support suppliers who include audio-visuals contractors. These are tremendously influential and actively involve by providing the conference facilities. Transport operators and telecommunication companies play a vital function in ensuring that the event is successful (Buhalis 18). Additional suppliers The suppliers are supremely beneficial in facilitating the performance of the conference. They play a crucial role i n providing transport facilities to the delegates, venues, accommodation, local businesses and food and beverage. They will ensure that the delegates acquire all the necessary materials that they require during the two days of the event. For the tourism industry to perform efficiently, they have to ensure that the state develops

Internaional Accounting Essay Example | Topics and Well Written Essays - 1500 words

Internaional Accounting - Essay Example Russia borders on the Arctic Ocean, the North Pacific Ocean, and Europe. The neighbouring countries are China, North Korea, Finland, Georgia, etc. (Russia: Introduction n.pag.). It is an independent economy having a budget expenditure of around $372 billion and the unemployment rate being 6.6% (Russia: Statistics n.pag.). In the year of 1990, the economy changed itself from being a centrally planned to that of a free market economy (Russia: Economy n.pag.). FINANCIAL ENVIRONMENT IN RUSSIA\ According to Vladimir Putin, the Prime Minister of the Russian Federation, Russia has been ranked among the top five economies for alluring foreign direct investment (FDI) (Doing Business in Russia n.pag.). The country has shown a good figure in terms of GDP (Gross Domestic Product) in 2011 where the Government debt was around 10% of GDP and the inflation rate being 6%. The Government is also planning to invest around $1.5 trillion for developing the country’s economy for the upcoming three years. However, the figure of FDI has not grown substantially as it is just accounting to an amount nearly $40 billion coming to the third year. And that means there are not many multinationals or foreign companies investing in the country (Doing Business in Russia n.pag.). BUSINESS ENVIRONMENT For doing business in Russia, there are certain accounting principles that one needs to follow. Each and every registered company or firm is required to prepare individual RAS financial statements for each financial year ending on the 31st of December. The framing of the financial statements are prescribed by the Ministry of Finance, and it includes a two-year’ comparative balance sheet, profit and loss accounts, a statement for equity changes, and a one-year’s comparative cash-flow statement. Supplementary notes are also required (Financial Reporting Framework in Russia n.pag.). Various international organizations like the World Bank and IMF are giving their supporting hand to the Russian Federation in order to improve the GDP rate. According to a study by the World Bank, the following data has been figured out (World Bank n.pag.). Figure one. Graph showing the growth of GDP over the years in comparison with Europe & Central Asia: Source: World Bank Here we can see that in Russia, the growth of GDP was very low in 2003 and gradually became somewhat consistent over the years of 2006 and 2007. There were no production in 2009, but it came to a considerable position in 2010 and 2011. According to IMF, this has also been found that Russia has been the largest borrower. Hence IMF is examining what Russia, in return, has produced or improved before sanctioning any more funds (Russia: The IMF’s biggest failure n.pag.). LEGAL ENVIRONMENT Taking the legal environment into consideration, if a person gets engaged into a tax or commercials dispute in Russia, according to the Court of Law, he/she will have to approach the arbitrazh courts. The procedure starts with filling in a form, and the whole procedure, in original, takes around 9 to 12 months to get completed. There are also some business regulations that are practiced in Russia which are the competition policy and the policy of price controlling (Business Environment in Russia n.pag.). Russia adopted the Civil Law for its jurisdiction in order to compete with the Western-European nation states by strengthening political and economic power (The Common Law and Civil Law Traditions n.pag.). Investor protection and