MARKETING PLAN FOR PGI COMPANY Essay Example | Topics and Well Written Essays - 5500 words

MARKETING PLAN FOR PGI COMPANY - Essay Example Number of words 1482 (excluding appendices/bibliographies and tables) Contents EXECUTIVE SUMMARY 4 INTERVIEW AND ANSWERS 5 INTERVIEW SUMMARY 12 DEMOGRAPHIC SEGMENTATION 13 GENDER SEGMENTATION 13 AGE SEGMENTATION 14 BEHAVIORAL SEGMENTATION 15 BEHAVIORAL SEGMENTATION SUMMARY 16 MARKETING MIX 16 CUSTOMER AUDIT 18 OPPORTUNITIES AND THREATS 18 INTERNAL AUDIT 19 STRENGTHS AND WEAKNESSES 19 MACRO ECONOMIC AUDIT 20 MACRO ECONOMIC SUMMARY 21 MICRO ENVIRONMENT AUDIT 21 MICRO ENVIRONMENT AUDIT SUMMARY 22 MISSION 23 EXTERNAL FACTOR (EXTERNAL AUDIT) 23 INTERNAL FACTOR (INTERNAL AUDIT) 23 COMPETITOR AUDIT 24 COMPETITOR AUDIT SUMMARY 24 SWOT ANALYSIS 24 TOWS ANALYSIS 26 MARKETING OBJECTIVES 27 STRATEGY THRUST 27 ANSOFF MATRIX 27 STRATEGIC OBJECTIVE 28 STRATEGIC OBJECTIVE SUMMARY 29 CORE STRATEGY 29 CORE STRATEGY SUMMARY 30 MARKETING MIX DECISION 30 MARKETING PLAN CONTROL 31 CONTROL 31 CONTIGENCY PLAN 32 PGI MARKETING PLAN EXECUTIVE SUMMARY PGI is an insurance broker that specializes in motor vehicl e insurance only. The company is now considering expanding its offerings by introducing a general household insurance policy to existing customers. The company has established links with affinity groups such as trade unions which give it access to more than 5 million customers. The target market consists of homeowners across all gender and age segments. The primary needs of the market are price, service and information. This report analyzes the industry and the competitive position of PGI within the industry to recommend a price skimming marketing strategy. INTERVIEW AND ANSWERS Stage 1: Cut and Paste Questions Interviewee 1 Male 46yrs Interviewee 2 Female 56yrs Interviewee 3 Male 25yrs Interviewee 4 Female 23yrs Interviewee 5 Male 61yrs Interviewee 6 Female 43yrs Interviewee 7 Female 63yrs Interviewee 8 Male 48yrs Q1 Would you be prepared to buy a household contents policy from a group which you are a member of? Yes I already get my car insurance from my Trade Union so why not my c ontents policy No I get my contents insurance from my mortgage lender, I thought I had to as they gave me the money. Yes why not, so long as they are competitively priced. Well currently I get my contents insurance from the web, the site searches 20 insurance companies for the best deal. I do have to input my requirements though. So if my staff association had a similar arrangement then I would think about it. Yes from my union but I can’t see it from the Train spotting club. What about when I retire though? No, I like to buy insurance from people who know about insurance, I mean does my trade union know anything about insurance? I don’t think so! Yes from my union but really I use my local insurance broker –they take all the hassle out of buying. What about when I retire though? Yes, why not if they can get me a good deal –must be able to get a bulk discount, I mean my trade union has over 1 million members now. Q2 What would you expect to find in a hous ehold contents policy? Well the contents of my house insured of course! But I would want my portable belongings insured outside of the house in case I lose them or had them stolen, I’d like the kids belongings insured too, especially the eldest while he is at university. I don’t know, how about the obvious, like my contents insured against lose due to fire, accidental damage, theft etc. Oh and outside the house as well. Well, accidental loss cover, the usual fire and theft that’s about it. Just fire and theft mainly. Just like the basic cover. Don’t want to spend too much money. The usual fire, theft, accidental damage, legal expenses insurance and all those telephone help lines –you know the repair, tradesman-sourcing etc. Oh just everything covered really,

Logistics Term Paper Example | Topics and Well Written Essays - 750 words - 1

Logistics - Term Paper Example To a business, quality control helps in meeting the criteria and targets of the output. Other importance of quality control will include: customer satisfaction, enhanced product quality, effective teamwork, increased revenue, and reduced amount of waste. Quality management, as a principle, ensures that the business’ products and services are of quality to the expected standards. Several quality programs can be used in ensuring effective quality control such as: Total Quality Management, the Six Sigma, and Theory of Constraints. Hence, the goal of quality control is to create high performing service and products, of high quality, that meets and surpasses the expectations of the customers. In addition, quality control is important to the business in that it: help training results or trainees reduce the probability of fault and reach a distinct level; ensure the businesses obtain good image and attain high level of performance; ensures continual development and establishment of q uality products and services; enhance the system of work and continually improve the output of training, and ensure continual training evaluation so as to develop work system (John, 2009). Logistics is a planning network of an enterprise that is used for the reasons of material management, information, and capital flows. Effective management control program in the logistics organization helps the business in making the right deliveries at the right place for the right price in the right condition. This process includes importance of communication and control systems as well as complex information of the organization. Effective management control program in the logistics organization plays a vital and pivotal role in the accomplishment of the objectives and goals of the business. This is because logistics management helps in planning, controlling, and

Islamic Art and Architecture; Influence and Effects Essay Example for Free

Islamic Art and Architecture; Influence and Effects Essay Introduction During the reign of the Ottomans, Safavids, and Mughal rulers, architecture and art took on more meaning than it had in the past. The types of architecture and manuscript writing have had both symbolic significance and influence on the people of these empires. The architecture can be said to have had the greatest impact on the presence of power and devotion to Islamic arts of all of the empires, while manuscripts were held privately until trends influenced their spread over greater distances and people. The Ottomans, in their quest to expand their lands and influence, conquered Constantinople in 1453, which sparked a major period of construction in the new capital of the Ottoman Empire. This large building initiative took place in order to encourage a repopulating of Istanbul, as well as the revitalization of the economy in this declining city. The buildings and complexes the Ottomans built shed an interesting light on their concerns and ideals. For example, while the complexes were mainly built as places of worship, they took on other roles, such as, centers for education, commerce, and hospital care. One complex is clear in its intentions to the public, as can be seen by the endowment deed, which read â€Å" to elevate matters of religion and religious sciences in order to strengthen the mechanisms of worldly sovereignty and to reach happiness in the afterworld†, (Bloom Blair, 298). This combination of buildings in a complex format drew people from the old capital and cities of the empire, and generated revenue that amassed into fortunes for the rulers of the Ottoman Empire. The Ottomans, however, were not the only empire to enjoy great wealth and displays of that wealth. The Mughals, who descended from the same Turkish conquerors as the Ottomans, also enjoyed prosperity from great building projects. The architecture of the Mughals was able to change with great regularity during its time, due to the constant movement of the central government. The Mughals also benefited from a blend of styles and influences to create their palaces. The most famous example of Mughal architecture was the Taj Mahal, which was built in the memory of a deceased favorite wife. In the building of temples and tombs in Mughal history, it is quite common to find them built as reminders to the community of saints, heroes, or loved ones. It was  also common to find that they lacked as muc h fine detail as their neighbors to the west, but brought new styles to the architecture derived from the rich traditions of the people of India. Unlike the Ottomans and The Mughal, the Safavids were derived from the family lineage of Mohammed the prophet. Despite this difference, the Safavids built great temples and complexes for similar reasons. The Safavids built great complexes, and like the Ottomans, they moved their capital to a centralized location in order to centralize power, and increase commerce. The Safavids also shared another trait in building with the Ottomans. They both had a strong emphasis on education, and liked to keep a watchful eye over it. For this reason, religious complexes often included the highest forms of education for both the government and the religion of Islam. Though in competition for much of their histories, the Ottomans and Safavids adhered to many of the same architectural styles, with one major difference. Due to their difference in branches of Islam, the Safavids, unlike their Sunni neighbors the Ottomans, had little problem with diverging from traditional customs of avoiding the use of depictions of animals and people in their design. This proved to enhance the appearance of the buildings, but also give them a unique place in the history of Islamic buildings. Manuscripts, on the other hand, have a very different history than do the magnificent buildings of the Islamic world. In the Ottoman Empire, as was true of most of the Muslim world, the Koran was the most copied manuscript. Copies of the Koran were reproduced with astonishing art, but were usually given as gifts to other rulers. In this system, the common person was excluded from viewing the finest manuscripts. Common manuscripts were produced by artisans, but lacked the high quality of that of the royal courts. The Ottomans also used their talents to reproduce manuscripts that depicted great rulers and events in history, as well as topography paintings that displayed the prominence of conquest in the Ottomans daily life. Ottoman manuscripts were not as popular or unique as the ones created by the Safavids or Mughals, but they did posses superiority in the ar t of calligraphy. Manuscripts from the Safavid and Mughal empires possessed greater detail in art, but most of the calligraphers were not as skilled as those of the Ottoman Empire. Despite this lack of good calligraphy, the Safavids and Mughals were more skilled in art and design. Like the Ottomans, the Mughals and Safavid empires copied  the Koran at a high rate, but only the best works of art were given away as gifts. This lack of quality reproductions, which included not only writing, but also painting, led to the decline of the bound book. This decline led to the development of an industry of artisans creating single manuscripts. These manuscripts allowed for both artistic differences that were hard to avoid in large manuscripts, and it allowed more people to posses art. They were collected into books, but they had a greater impact on both the people of the Muslim world and the Europeans, who were exploring the area heavily in search of people to colonize. The arrival of the Europeans also led to a decline in the production of small manuscripts, due to the fact that the printing press and mass production of books were arriving in Europe. Conclusion Islamic art and architecture both had more than one use in Islamic life. The architecture reminded the people of saints, great rulers, martyrs, or beloved figures, as well as serving as a center for religion, education, commerce, and medicine. The art of the Islamic world was originally used to tell of battles, heroes, and most popularly recreate the Koran. Art also allowed for the growth of writing, painting, and the distribution of ideas over greater distances than the spoken word. Both Islamic art and architecture still hold as reminders to Muslims and the world that great rulers, conquerors, and artists have made a lasting impact on the region and its culture.

Risks and Benefits of Modern Technology

Risks and Benefits of Modern Technology The Internet and other emerging technologies have been a source of help to organisations in the modern time. It could be argued that having a form of modern technology is inevitable in the bid to remain competitive. Information Technology industry and media commentators claim that businesses stand to gain many benefits from use of the Internet. There is no doubt that the internet has transformed the way organizations operate at present, not only do these improve processes, financial benefits are also increased. While successful examples of companies using the net have been widely reported, few studies have seriously examined the issues involved. However, there is always a flip side of the coin in everything, as the internet and the other emerging technologies have their benefits to organizations. There are also the disadvantages. This paper will seek to analyze both sides in detail and put forward possible solutions backed up by research which will reduce the risk of digital business. George (1988) defined Emerging Technology as science based innovations that have the potential to create a new industry or transform an existing one. They include discontinuous technologies derived from radical innovations. Examples are bio therapeutics, high-temperature super conductors, MRI imaging, Touch screen kiosk and the Internet. The Touch Screen Kiosk is a new java-enabled technology. Touch-screen kiosks go beyond the capabilities of a traditional time clock in that they are true information appliances. They provide a bridge between the organization and the workforce, both capturing workforce information and extending organizational information back to the employee. A kiosk-based solution for time, attendance, and labour tracking also offers organizations a tool for empowering employees with self-service. With the touch of a finger, employees can view Internet-enabled applications that display their schedules, vacation balances, and corporate messages or allow time and labou r data entry. Workforce management can now be a two way street. (Rizzo, 2001) The Internet started in the 80s and since then it has had a drastic impact on culture, commerce and business and due to the speed, litheness, and effectiveness that it offers, it has become the means for accomplishing a growing amount of business between suppliers and large international companies. With this, the Internet has created new business to developing countries and has hastened the distribution of knowledge throughout the world of business. It thus creates unprecedented opportunities for developing countries because it can remove barriers thereby fostering full participation in the new global economy. Some organisations use the internet for almost every part of their organization such as buying and delivery of goods, stock control, manufacture arrangement, communications plans, sales programs, service departments and support programs. The change from traditional communication channels such as salespeople, telephone and snail mail to the internet and e-mail happened quickly i n some companies. However, this transition took place slowly in others. (McKenna and Bargh, 2000) Emerging Technologies have instigated a new transaction method that decrease costs, hastens the pace at which transactions are carried out, and supply acces to new markets, new customers, and new business relationships of all kinds. Even with all these benefits that the internet has brought to the business world, there are still a lot of risks involved such as fraudulent transactions, scams and more. This research would explain all these risks and benefits in detail. The Internet has enabled business to go far beyond previously set or imagined boundaries. Today, change is constant, its speed is accelerating, and its global impact is felt everywhere. While the Internet offers many potential benefits, there are a number of unresolved issues in conducting business on it. Despite recent advances, security remains the most fundamental concern and the main reason why companies hold back from full use of the net (van Kirk, 1994; Baron, 1995). Iver (2003) explains that online business is an infinite term about the different business procedures that plan to assimilate the merchants with the consumers and suppliers using the Internet. The whole procedure of putting up a website, helping the potential customer steer through the site, showing them the accessible products, offering cut rate and coupons and doing everything possible to persuade the potential customers and changing them into customers, comes under the process of e-business. He further went to discuss about Electonic commerce which is a compartment of e-business and is defined as online business that can be accounted for in financial terms. For instance, paying for goods and products with credit card by the consumers or shopping and paying online are examples of electronic-commerce. E-commerce could be explained as the last phase of e-business which involves the payments of the products sold by the organisation. The use of the internet has several disadvantages when conducting business transactions. According to Iver (2003), the main disadvantage of online business is the poor growth rate in certain segment on account of goods. For example, the food sector has not profited in terms of expansion of sales and resulting profits generation due to some certain reasons like food products being an unpreserved item. Customers hardly search for food products and items on the Internet because they rather go to the stores to purchase the required product when it is needed. It is also very easy to go into the online business as almost everyone has a laptop and is connected to the internet. This gives room for fraudulent activities since there isnt proper security in place to monitor the number of people that develop shopping websites. Trust is also a major issue in online business because any problems with your business website will be immediately be obvious to the world and the customers typically have little loyalty. Due to competition, once your website is unavailable, customers will simply move on to one of your competitors. In addition, technical failure can also have a significant impact on a companys key trading partners. Sid (2007) also discussed about the disadvantages of online business based on internet services and trust issues. Internet Technology According to Sid (2007), he discussed about the disadvantages of practising online business. The first point is that the website of the business must keep functioning at all times; this is the equivalent to a physical store staying open. If an Internet business goes offline due to technical issues, it can cost them profit; therefore, it’s essential to either have the technical skills or have someone in the company that possesses the technical skills to keep the company functional at all times. Trust Sid (2007) also explained about the behaviour of people shopping online. In many people’s minds, purchasing products over the Internet is still not as safe as purchasing products in stores. Since people cannot see the person on the other end of the computer, they might have issues purchasing products. This is also dependent upon the products and the sector. Lacking consumer’s trust can significantly impact sales and overall success. According to Lewis (2002), internal network protection will be a big issue for the organizations that wish to offer their services to Internet-using customers around the world. Hackers and other internet criminals can infiltrate company files and infect them with a virus, which is then sent to other computers to infect them. If the networks are not secured such people could also find important information about the company. Newly publicized weaknesses in the basic structure of the Internet indicate that the worldwide computer network may need a time-consuming redesign before it can be safely used as a commercial medium. Lewis (2002) further went to explain about how hackers can easily get access to different companies and can cover their traces without any major concerns. They like to trade data illegally and sell data to the hacker community. Calling-card numbers from long distance telephone service providers, cellular service activation codes, stolen credit-card numbers, security-p enetrating algorithms and pirated software codes are among the data most frequently traded on the Internet. Hackers might also bombard a company with thousands of mail messages using automatic remailer tools. The posting of messages can knock out communications at a critical time in a competitive situation and even firewalls cannot protect a company well against these attacks. Jerkins (1995) explained about Information security which is based on three foundations: Data integrity A company must be sure that its data have not been changed. Confidentiality of data Companies have to be able to keep to themselves what they do not want others to know, such as their customer database, credit card numbers, etc. Authenticity Companies need to be sure that messages they receive from the Net are from the people they claim to be. If any of these factors can be infiltrated by hackers, the company is no longer secure.Another risk is the increasing number of information brokers who use online communications to match buyers and sellers. Criminals always seem to always have an edge over law enforcement agencies.An online Internet organization also faces other challenging risks. Cafasso (1996) explains the case of staff members that always download adult material from the internet and go further to show them around in the work environment. This can create a hostile working environment and employees that view the adult material might feel sexually harassed within the company and could press charges. The company will have to ensure that employees cannot download such media files or other offensive materials from the Internet. It will have to develop strict guidelines to protect its own interests and the uncontrolled surfing habits of its employees.To do business on the Internet successfully, companies will have to en sure that the customer is indeed the person he or she claims to be. Verification and confirmation, written with an e-mail system, will work well enough for the time being. The advantages of using the internet or emerging technologies were explained by Iver in 2003. Worldwide Presence According to Iver, 2003, this is the major benefit of transacting dealings online. An organization using e-business can have a countrywide or a global presence. For example, IBM was one of the first firms to start practicing e-business to service customers and work in partnership with business associates all over the globe. Dell Inc. also had a prosperous business selling computers all over the US, through the telephone and the Internet till 2007. Amazon.com is also an accomplishment story that assists customers buy globally from third parties. Hence, global presence is guaranteed if organizations reorganize their business by using the Internet. Cost Effective Marketing and Promotions The use of the web to advertise products ensures global reach at a small price. Advertising techniques like pay per click advertising guarantees that the promoter only pays for the advertisements that are really watched. Affiliate marketing, where customers are directed to a business portal because of the efforts of the affiliate who in turn receive compensation for their efforts meeting with success, have emerged on account of e-business. Associated marketing has assisted both the business and the associates. Organizations making use of e-business have handled to use cost effective online advertising strategies to their advantage. Developing a Competitive Strategy Organizations need to have a competitive strategy over their rivals because without an effective strategy, it will be difficult to sustain the advantage and make proceeds. The strategy, that the organization can chase, can be a price strategy or a differentiation strategy. For instance, till the year 2007, Dell Inc. was selling PCs only through the Internet and the phone. It took up a differentiation strategy by selling its PCs through the internet and personalizing its laptops to meet up with the requirements of the customers and it really helped their profits. Thus, engaging business online resulted in Dell Inc. being able to acquire a large sector of the market by making use of the differentiation strategy. Better Customer Service Iver (2002) explained that doing business online has produced an improvement in customer service. Occasionally, when going through a website, the customer is always met by a pop-up chat window. Readily available customer service may assist in encouraging the customer to know more about the product or service. Furthermore, the products can be paid for online and can be shipped to the customers home. Internet services allow for asynchronous interaction and provide convenience for the client. The Web also makes access to people in remote areas feasible. This assistance, says Snow (2001), is able to bridge distances and help overcome a wide assortment of isolation economic, physical, emotional, geographical. Doing business on the Internet will become even more essential in the future. More organizations will have the right to use to the Internet and, with the price of communication reducing; more customers will come to the Internet as well. The Internet offers remarkable possibilities and could, in the long run, surpass conventional distribution channels. It is very simple to get connected to the Internet and people can browse and shop on the Internet 24 hours a day, if they want to. The Internet offers an exceptional way to get in touch with the customers on a one-to-one basis. Better emerging technologies will help organizations to represent themselves better and sell more products. So for people to keep enjoying the benefits on the Internet, it is important that the security issues must be addressed. Security on the Internet is a very vital issue, and some good solutions are beginning to form. Organizations that use the internet often need to protect themselves in three major areas: data integrity, confidentiality of data and authenticity. It becomes more and more key to avoid hackers from stealing or tampering with data stored in organisations systems. This can be done by installing firewalls or routers. When data travels on the Net, it is normally intended to be read only by sender and recipient, which can be ensured with encryption systems. Finally, an organization wants to be sure that the parties it is communicating with are really who they claim to be. Authenticity can be obtained with digital signatures. Doing business online involves some risks, like any other business transaction. But if attention is devoted to installing secure procedures, it is no more risky than other business practices. Since security is essential in online business because of all the risk involved, one of the major organizations that provide such security for banks and other large organizations that deal with online business is Panda Security. It is one of the major leading IT security providers and an antifraud service for doing business online to guard against identity theft through malware attacks targeting banks that operate online, platforms for payment and electronic-commerce. This procedure advises companies when there is a targeted attack and provides the gears to spot and obstruct affected users which reduce any possibility of online fraud. This solution allows banks and organizations providing online services to ensure that customers initiating businesses on their websites are not contaminated by any malevolent code that affects the service. They can see the security status of their customers and efficiently supervise the danger involved in online business. This radically reduces the poss ibility of fraudulent actions. The benefits that this service offers organizations include: Reduction of online fraud Panda Security for Internet Transactions provides tools and information to stop fraudulent activity. Organizations are instantly notified whenever there is a new malware attack targeting their customers, and delivered the information needed to respond in time. Organizations will see how the malware operates and how they can protect themselves. They can prevent infected customers from accessing their website, reducing the effects of online fraud. Control and management of threats to online transactions This is the only service on the market offering information about the security status of clients. This can be used by an organization to create risk profiles, meaning the service can be configured to restrict the permission to carry out transactions to those clients that meet pre-determined security requirements. Expanding business thanks to improved security Users lack of confidence in online security is one of the prime reasons for their reticence to use Web services. This tool reduces online fraud and allows companies to offer clients a secure environment for online transactions For the business community, the Internet is a new limit, offering matchless prospects for development and growth. Organizations can provide their services throughout the world, with the variety of services multiplying daily. It is also obvious that the advantages of using the internet and other emerging technologies for business is by far more than the disadvantages so organizations would continue to use them and keep trying to find ways to reduce online fraud and scams. Practising online business involves some threats just like any other business deal. But if concentration is dedicated to installing secure measures, it is no more dangerous than other business practices. As a matter of fact, it is not safe for your organization not to be represented on the Web if you are related to the technology industry in any way: the Web will be the first place prospective customers will look for you, expecting to find you there. There are unique opportunities on the Web for marketing a companys services, selling products and gathering information. References BBC (1999), â€Å"Internet scam file†, BBC On-line Network, 7 April,news.bbc.co.uk/hi/english/business/your_ Brewer E. (15), â€Å"Internet flaws a setback for commerce†, New York Times Personal Technology. Cafasso, R., When security isnt what it seems, Enterprise Systems Network Management, March 1996, pp. 72-84 Cyber-Smut: Regulating Obscenity on the Internet; Kaplan, Rebecca Dawn Stan. L. Pol’y Rev.; 1998 Vol. 9, p189, Edward Rizzo 2001 Emerging Technologies and the Internet Enable Todays E-Workforce http://community.19actionnews.com/_zhangyan-has-added-Advantages-of-E-Business/BLOG/2275620/2165.html http://www.abestweb.com/forums/showthread.php?goto=lastpostt=103922 http://www.buzzle.com/articles/advantages-and-disadvantages-of-e-business.html http://www.ehow.com/list_6023059_disadvantages-e_business.html http://www.marketingservicestalk.com/news/pan/pan113.html http://www.pandasecurity.com/virus_info/exports/rss/pandaes.xml Jenkins, L., Doing business in a global marketplace: secure electronic commerce, Ciphertext The RSA newsletter, Vol. 3 No. 1, Winter 1995, pp. 1, 8. Jim Drinkhill, 2001, Journal of Financial Crime, Computer Fraud, Vol. 4 No. 3 Lewis, P. (22), â€Å"Security of personal data is lost in cyberspace†, Computer Information Systems. McKenna, K. Y. A. and Bargh, J. A. (2000) Plan 9 from cyberspace: The implications of the Internet for personality and social psychology, Personality and Social Psychology Review, Vol. 4, pp. 57-75. money/newsid_313000/313051.stm. SEC (1998), Internet Fraud: How to Avoid Internet Investment Scams, US Securities and Exchange Commission, Washington, DC, October, www.sec.gov/consumer/cyberfr.htm Sid, J. (2007), World Wide Web Marketing – Integrating the Internet into Your Marketing Strategy, John Wiley, New York. NY Snow, S. (2001) Is Online Counseling Ethical? Available: http://www.commcure.ethicsonline.html. Accessed Aug. 26 2003.

Prejudice and Racism in Canada Essays -- Sociology Racism Prejudice Es

Racism is a Problem in Canada A few years ago in Smalltown, CA a burning cross was placed in the lawn of a visible minority family. Although the media seemed shocked at this explicit racial attack and portrayed the attackers as a group of abnormal, twisted deviants, I was not surprised. As an Asian student who is writing her Sociology honours thesis on visible minorities in Canada, I know on a personal and academic level that racism in Canada does exist. Although explicit racial incidents are not a common occurrence, they do happen. Here at school, a visible minority student left the school when a car sped past her, while the young men inside shouted racial slurs. Two weeks ago The school paper published an article about a group of International students who experienced racially motivated discriminatory service at restaurant. Last month I attended a meeting about racism, and a number of students related explicit stories about experiencing racism in Tinyville. More often, racism is expressed in subtle ways, and is not recognized as racism. Although social scientists do not like using the term race since it is a socially constructed category based on inaccurate assumptions about phenotypical and biological differences between human groups, race still holds social currency since perceived racial differences leads to unequal power, privilege, and social prestige. Ignoring race would mean ignoring the reality of racism. Racism takes forms that include social ostracism, employment discrimination, and racial prejudice. One Mt. A student related experiencing social ostracism and prejudice at Mt.A. "People are less willing to get to know me and most people view Black people negatively. 'Yo, whatsup?!' That stereotypical treat... ...ral nation. Multiculturalism is unfortunately only a vague discourse that tokenizes cultures, ignoring the reality of racial conflict. Mary Pipher, discussing sexism, observes that "The lip service paid to equality makes the reality of discrimination even more confusing." Although overt forms of racism are rare, covert forms of prejudice and discrimination against visible minorities still exist. Further, racism is not only evident in individuals, but on institutional and national levels. Although it is tempting to ignore racism and deny that it exists, ignoring racism will not make it go away. Source: Miedema, Baukje (Bo) and Evangelina Tastsoglou. "But Where Are You From Originally? Immigrant Women and Integration in the Maritimes." Atlantis 24.2 (Spring/Summer 2000): 82-91. 25 Jan. 2003. http://www.stmarys.ca/academic/arts/sociology/tasto/pubs/atlantis.pdf

A Reflection: Application to Practice

Introduction This reflective brief aims to discuss how and why I will apply my new learning to my routine practice; in particular, focusing on how this learning experience will enable me to show and promote care, compassion, commitment, courage, communication, and competence (6 Cs) within my everyday practice. Although the discussion revolves around these issues, it is consistently supported by literature and evidence. Reflective DiscussionMy most important features of learning within the moduleFor me, the most important features of learning within the module are the inculcation of evidence-based practice of care through communities of learning, and the positive contribution that healthcare-related lifelong learning can extend to an empowering and person-centred care. According to Houser and Oman (2011), evidence-based practice necessitates the incorporation of scientific evidence in the process of clinical decisions rather than sole reliance on experience or intuition. It is also a problem-solving approach to the practice of care, integrating the utilisation of current best evidence from well-designed researches, the expertise of the care professional, and care users’ values and preferences. The concept has several useful implications for my personal practice. In the field where I am currently engaged, the evidence-based practice allows me to carry out my profession to promote and deliver care, utilising the supportive backdrop of theory and practice. At the heart of this backdrop is the way in which evidence-based interventions can help deliver positive outcomes to the practice of care. In other words, such learning is not simply cognitive or knowledge-based, but also affective and psychomotor (i.e. applying knowledge into practice). These are also embodied in Utley (2011) and Rice (2006). By offering a way for theory to support practice, evidence-based healthcare seems to allow the practitioners to incorporate affective and psychomotor aspects with a more rational, research-based approach. I have fully grasped the module’s goal of providing the opportunity to engage with the service users and their carers – their experiences and outlook – and integrating this goal to my professional values. I have thoroughly recognised the importance of this integration, as working with service users and their carers in a healthcare domain necessitates soaking my whole perspective into the care practice. The health practice has become a way of life where I provide care, compassion, courage, etc. which are required of me as a health care professional. This is because it has been a part of my daily routine and concerns. From this, I have come to understand that the care practice is more than a field or profession. Leininger’s Theory of Culture Care informs us of care as the central, dominant, and unifying focus of nursing (De Chesnay and Anderson, 2008).The 6 CsCare is first and foremost the primary duty of a health professional, and on which evidence-based pr actice must be focused. This idea is also embraced in Brooker and Waugh (2013) and Olsen, Goolsby, and McGinnis (2009). Care requires me to have an interest in the condition of service users, their aspirations, uncertainties, hopes and so on. It is not merely working with service users and seeing the work as an objective component of the care practice; but that the care practice requires traits and values beyond these, such as applying an ethical code and seeing the care user with dignity and respect. I would like to note that compassion is a concept that cannot be objectively measured. Rather, it is something that I can extend to a care user only if I have sufficient knowledge of their condition, the problems that bother them, their emotional state vis-a-vis their existing health condition (e.g. Department of Health, 2012). This is where we would find the value of clinical assessment, which must be efficiently carried out (Abbott, Braithwaite, and Ranson, 2014). This is also the reason why I need to communicate with them regularly or as needed, since only through constant interaction can I have adequate knowledge of their present condition; from which I can grow compassion towards them. Commitment hence results from this engagement to the care practice, which I believe is not an overnight process, but definitely requires routine. Watson (1999) describes commitment as a moral ideal aimed to preserve humanity. Courage takes place from such commitment, which enables the health professional to support and even campaign for the welfare of the service users and their carers; certainly a result of his care, compassion, communication, and commitment to the care practice in general. I would say that competence is a product of knowledge and practice of care being put together; it is an expression of evidence-based practice on which the module is focused. My important learning in this aspect is that these values are linked to ethical and moral code governing the care practice (Kelly and Tazbir, 2014).Has the new learning helped me reevaluate issues of dignity and respect?My new learning helped me reevaluate and better understand issues such as dignity and respect. This is by valuing the human person on a higher scale, viewing the care service as a channel for a person to regain his health and live normally again. This is also by looking at their ultimate recuperation as a foremost goal, including their mental, physical, emotional, and even spiritual well-being. This way, the care user is afforded dignity and respect, of which he is certainly worthy and which the health care professional must provide to him/her at all times and by all means. Treating the service user this way is concretely demonstrated in making him well-informed about his overall condition, the kind/nature of care he needs, and the like (Nolan, Hanson, and Grant, et al., 2007).My strengths for applying this learning to my practiceThe strengths I have for applying this learning to my practice are my sympathetic nature, my interactive character, and my ability to recognise accountability for issues involving the welfare of others. I believe that my being sympathetic will enable me to develop care and compassion (two of the 6 Cs) more easily. My interactive character connotes my propensity towards good communication (also one of the 6 Cs), which is definitely necessary in the care delivery. My ability to recog nise accountability, on the other hand, will motivate me to pursue my goals (as a health care provider) with careful implementation of the care practice so that the care user will receive the most adequate level of necessary care (Barrick, 2009). The Intuitive-Humanist Model explains the link of intuition to the relationship between the nursing experience, the knowledge thus obtained from this relationship, and how it enhances the clinical decision-making process (Banning, 2007). Enabling me to demonstrate and promote the 6 Cs would require my knowledge of the care practice as the initial and necessary first step; and the next would be immersing in the health profession and knowing the issues/problems related to care users’ health condition or those affecting the delivery of care, as well as the issues/problems faced by their carers. The idea of the whole point is that the care practice must be evidence-based, since if not, our potential to harm the service users will rise accordingly (e.g. Newell and Burnard, 2011).Opportunities and threats to applying my new learningAn opportunity in applying my new learning to my routine practice is the acquired knowledge of evidence-based care practice and its incorporation into the 6 Cs: care, compassion, commitment, courage, communication, and competence. This is why the 6 Cs are involved/patched to the care practice, as the care practice is not merely a professional domain where one obtains a care service and wh ere the care providers get paid for providing the needed care. There are also threats that may hinder the application of the 6 Cs in my health practice. These are inadequate care facilities and circumvented processes within the care units, which can both delay care delivery. According to Malloch and Porter-O’Grady (2010), evidence-based processes require the development of attitude and facilities in order to obtain real-time information that must be assessed, applied, and translated within the framework of the care circumstance. In this regard, inadequate care facilities can be overcome by pointing out the needed areas to be changed and/or resources to be supplied. Circumvented processes can be resolved by applying efficient methods, such as the Lean management method. It has been proved that Lean adoption produces viable results for the care organisation (Lighter, 2013; Zidel, 2006).A need to share my learning with othersFrom completing this module, there is a need to share my learning with others. Such sharing will enable the care prac tice to develop further, especially if it is shared with colleagues. It can also improve health setting when shared within the job, since it can be evaluated this way. I may pass learning formally through health seminars where I am a speaker. There might also be a case that I would be invited to talk to a group of people about the care practice, in which I can share my learning about the module. The value of sharing one’s experiences about the care practice is in fact exemplified in Hinchliff, Norman, and Schober (2008) where the authors state that the care provider must facilitate the mutual knowledge sharing to others by contributing to their personal and professional learning experiences and development. Capossela and Warnock (2004) even discuss ‘share to care,’ which describes how a group may be organised to care for someone who is seriously ill. It only demonstrates the importance of sharing the care experience to allow others to benefit for their own circu mstances. The relationship between my routine practice, continuing professional development, and safe and effective care These concepts are interlinked and cannot be done without, and dismemberment of any will result in flawed care implementation. If safe and effective care could be achieved by simply doing what one has always done (caring for clients adequately), then it could quite easily be ensured. Furthermore, such relationship is also understood as one that leads to evidence-based practice. This is because it is through routine practice (from which the care provider gains learning and training everyday) (Gordon and Watts, 2011) that empirical evidence is established. Yammel and O’Reilly (2013) even posit that routine practice is an essential part of a continuing professional development programme. From continuing professional development, the care professional is able to pursue lifelong learning and develop expertise about the field (Cleary, 2011). Safe and effective care, on the other hand, is the goal of the care user. On the point of view of evidence-based practice (Brooker and Waugh, 2013), it is crucial to ensure that service users get the most effective treatments and services and receive the best health outcomes. Together with available and adequate funding, cost-effective care services form the provision of clinically effective care. Conclusion This reflective discussion presents my learning experience from the module, supported by a range of literature. The evidence-based practice of care provides a basis for promoting and delivering an empowering and person-centred care. It is a field where I have necessarily obtained cognitive knowledge as well as affective learning and psychomotor application. This reflective discussion has presented what I consider the most important features of learning within the module. The new learning has helped me re-evaluate/better understand certain issues relating to the care user, such as dignity and respect of the human person. My strengths to applying this learning to my practice are my sympathetic nature, my interactive character, and my ability to recognise accountability. The 6 Cs provide opportunities for applying my new learning and humanising the care profession. There are however threats that may hinder effective care delivery from taking place, such as inadequate care facilities and circumvented processes within the care units. Measures to address them are also identified. I also see a need to share my learning with others, which the extant literature also supports. The relationship between my routine practice, continuing professional development, and safe and effective care is inter-connected, from which a flawed care practice might occur if such interconnectedness is lost. It is therefore my realisation to ensure the link between them. References Abbott, H., Braithwaite, W., and Ranson, M. (2014) Clinical Examination Skills for Healthcare Professionals. United States: M&K Update Ltd. Banning, M. (2007) A Review of Clinical Decision Making: Models and Current Research. Journal of Clinical Nursing, 2007 February 28. Barrick, I. (2009) Transforming Health Care Management: Integrating Technology Strategies. London: Jones & Bartlett Learning International. Brooker, C. and Waugh, A. (2013) Foundations of Nursing Practice: Fundamentals of Holistic Care. St. Louis, MO: MOSBY Elsevier. Capossela, C. and Warnock, S. (2004) Share to Care: How to Organize a Group to Care for Someone Who is Seriously Ill. New York: Fireside Rockefeller Center. Cleary, M, et al. (2011) The Views of Mental health Nurses on Continuing Professional Development. Journal of Clinical Nursing, 20 (1): 3561-3566. De Chesnay, M. and Anderson, B. A. (2008) Caring For the Vulnerable: Perspectives in Nursing Theory, Practice and Research. Second Edition. London: Jones & Bartlett Learning International. Department of Health (2012) Compassion in Practice. Nursing, Midwifery and care Staff: Our Vision and Strategy. London: DOH. Gordon, J. and Watts, C. (2011) Applying Skills and Knowledge: Principles of Nursing Practice. Nursing Standard, 25 (33): 35-37. Hinchliff, S., Norman, S., and Schober, J. (2008) Nursing Practice and Health Care 5E: A Foundation Text. NW: CRC Press. Houser, J. and Oman, K. S. (2011) Evidence-based Practice: An Implementation Guide for Healthcare Organizations. London: Jones & Bartlett Learning International. Kelly, P. and Tazbir, J. (2014) Essentials of Nursing Leadership and Management. Mason, OH: Cengage Learning. Lighter, D. RE. (2013) Basics of Health Care Performance Improvement: A Lean Six Sigma Approach. London: Jones & Bartlett Learning International. Malloch, K. and Porter-O’Grady, T. (2010) Introduction to Evidence-Based Practice in Nursing and Health Care. London: Jones & Bartlett Learning International. Newell, R. and Burnard, P. (2011) Research for Evidence-Based Practice in Healthcare. Second Edition. West Sussex: John Wiley & Sons. Nolan, M., Hanson, E., Grant, G., and Keady, J. (2007) User participation in Health and Social Care Social Research: Voices, Values, and Evaluation. England: Open University Press. Olsen, L., Goolsby, W. A., and McGinnis, J. M. (2009) Leadership Commitments to Improve Value in Health Care: Finding Common Ground. Washington, DC: The National Academies Press. Rice, R. (2006) Home Care Nursing Practice: Concepts and Application. St. Louis, MO: MOSBY Elsevier. Utley, R. (2011) Theory and Research for Academic Nurse Educators: Application to Practice. London: Jones & Bartlett Learning International. Watson, J. (1999) Nursing – Human Science and Human Care: A Theory of Nursing. London: Jones & Bartlett Learning International. Yammel, J. and O’Reilly, D. (2013) Epidemiology and Disease Prevention: A Global Approach. Second Edition. Oxford: Oxford University Press. Zidel, T. G. (2006) A Lean Guide to Transforming Healthcare: How to Implement Lean Principles in Hospitals, Medical Offices, Clinics and Other Healthcare Organizations. Milwaukee: American Society for Quality, Quality Press.

Rbi and Its Roles

1. RBI and its Roles Reserve Bank of India (RBI) Reserve Bank of India (RBI) is the central bank of India. It monitors, formulates and implements India’s monetary policy. Established in the year 1935, RBI was nationalized in the year 1949. Owned fully by the Government of India, Reserve Bank has 22 regional offices in various state capitals of India with its headquarters located in Mumbai. It has a majority stake in the State Bank of India. Role of RBI RBI formulates the monetary policy, thus regulating and supervising the economy of India. RBI is the supreme banking authority in India.It sets the guidelines according to which the banking operations and financial systems within the country functions. i. Issuer of currency RBI is the sole authority for the issue of currency in India. Major currency is in the form of RBI notes, such as notes in the denominations of two, five, ten, twenty, fifty, one hundred, five hundred, and one thousand. RBI has two departments – the Is sue department and Banking department. The issue department is dedicated to issuing currency. All the currency issued is the monetary liability of RBI that is backed by assets of equal value held by this department.Assets consist of gold, coin, bullion, foreign securities, rupee coins, and the government’s rupee securities. The department acquires these assets whenever required by issuing currency. The conditions governing the composition of these assets determine the nature of the currency standard that prevails in India. The Banking department of RBI looks after the banking operations. It takes care of the currency in circulation and its withdrawal from circulation. Issuing new currency is known as expansion of currency and withdrawal of currency is known as contraction of currency. ii. Banker to the governmentRBI acts as banker, both to the central government and state governments. It manages all the banking transactions of the government involving the receipt and payment of money. In addition, RBI remits exchange and performs other banking operations. RBI provides short-term credit to the central government. Such credit helps the government to meet any shortfalls in its receipts over its disbursements. RBI also provides short term credit to state governments as advances. RBI also manages all new issues of government loans, servicing the government debt outstanding, and nurturing the market for government's securities.RBI advises the government on banking and financial subjects, international finance, financing of five-year plans, mobilizing resources, and banking legislation. iii. Managing government securities Various financial institutions such as commercial banks are required by law to invest specified minimum proportions of their total assets/liabilities in government securities. RBI administers these investments of institutions. The other responsibilities of RBI regarding these securities are to ensure – * Smooth functioning of the marke t * Readily available to potential buyers * Easily available in large numbers Undisturbed maturity-structure of interest rates because of excess or deficit supply * Not subject to quick and huge fluctuations * Reasonable liquidity of investments * Good reception of the new issues of government loans iv. Banker to other Banks The role of RBI as a banker to other banks is as follows: * Holds some of the cash reserves of banks * Lends funds for short period * Provides centralized clearing and quick remittance facilities RBI has the authority to statutorily ensure that the scheduled commercial banks deposit a stipulated ratio of their total net liabilities. This ratio is known as cash reserve ratio [CRR].However, banks can use these deposits to meet their temporary requirements for interbank clearing as the maintenance of CRR is calculated based on the average balance over a period. v. Controller of money supply and credit RBI has to regulate the claims of competing banks on money suppl y and credit. RBI also needs to meet the credit requirements of the rest of the banking system. RBI needs to ensure promotion of maximum output, and maintain price stability and a high rate of economic growth. To perform these functions effectively, RBI uses several control instruments such as – * Open Market Operations Changes in statutory reserve requirements for banks * Lending policies towards banks * Control over interest rate structure * Statutory liquidity ration of banks vi. Exchange manager and controller RBI manages exchange control, and represents India as a member of the international Monetary Fund [IMF]. According to foreign exchange regulations, all foreign exchange receipts, whether on account of export earnings, investment earnings, or capital receipts, whether of private or government accounts, must be sold to RBI either directly or through authorized dealers. Most commercial banks are authorized dealers of RBI. ii. Publisher of monetary data and other data R BI maintains and provides all essential banking and other economic data, formulating and critically evaluating the economic policies in India. In order to perform this function, RBI collects, collates and publishes data regularly. Users can avail this data in the weekly statements, the RBI monthly bulletin, annual report on currency and finance, and other periodic publications. 2. Asset and Wealth Management: mutual fund, different types of mutual fund and various products and services offered by mutual fund companies Mutual FundA mutual fund is a professionally managed Medium or vehicle that pools money from many investors and invests it in stocks, bonds, short-term money market instruments and other securities. Mutual fund is managed by professional managers who have deep knowledge and understanding of Stock Market, Bonds, money market. The combined holdings the mutual fund owns are known as its portfolio. Types of mutual fund Mutual Funds are of various types depending upon the f ollowing: 1) On the basis of structure This includes open-ended funds and close ended funds I.Open-ended funds Liquidity is the key feature involved which means these funds are like Open Box where investors can enter into or exit from an open-ended scheme anytime at NAV (Net Asset Value) related prices. Open ended funds are popular with investors because they operate in similar way to stock market where no maturity or lock-in period is involved. II. Close-ended funds A close-ended fund or scheme has a stipulated maturity period for eg. 5 – 7 years. The fund is open for subscription only during a specified period at the time of the launch of the scheme.Investors can invest in the scheme at the time of the initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchange where the units are listed. In order to provide an exit route to the investors, some close-ended funds give the option of selling back the units to the mutual fund through p eriodic repurchase at NAV related prices. 2) On the basis of asset class On the basis of Asset classes there can be Equity scheme wherein you invest in shares, Debt or Income scheme wherein you can invest in govt. ecurities, balanced scheme wherein you can invest in both equities and fixed income securities. 3) On the basis of investment objectives Investment objectives can be Growth scheme or Income scheme or Balanced scheme. | Growth Scheme| Income Scheme| Balanced Scheme| Aim| To provide capital appreciation over medium to long term| To provide regular and steady income to investors| To provide both growth and income by periodically distributing a part of the income ; capital gains they earn| Invests| Invests a major part of their fund in equities| Invest in fixed income securities like bonds and corporate debentures. Invest in both bonds and shares| 4) Other types A. Sector specific scheme Invest only in sector for eg. Infrastructure fund would invest in infrastructure companies . Sectoral funds carry a higher risk along with a higher potential to generate returns. This is because their fate moves with the sector in which they invest. Therefore if that sector performs well, they generate excellent returns. B. Index scheme Index attempts to replicate a stock market index or as closely as possible by investing in the stocks that form that index in the very same proportion.So a NIFTY index fund would have the same 50 companies that make up Nifty in the same weightage. The aim of an index fund is to replicate the performance of that market index. So if the markets are rising, then your investment will rise with almost the same percentage and if it is falling, you will get similar negative returns. The main advantage of investing in an index fund is the low Expense Ratio that is incurred in these funds as compared to other investments because it is passively managed funds. C. ELSS (Equity linked saving schemes)An Equity-linked saving scheme (ELSS) is a great inv estment option that offers the double benefits of Tax saving and capital Gains. Money collected under ELSS is mainly invested in equity and equity related instruments. ELSS Schemes have 3 years Lock-in period. Because of this, fund manager can have portfolio of stocks that can outperform over a period of time. The best way to invest in ELSS is through Systematic Investment Plan (SIP). With SIP you can invest a small amount every month for a specific time period.