A Case Study of Marriott International - 9298 Words

EXECUTIVE SUMMARY Marriott International envisions itself to be the world’s lodging leader. Its mission is to provide the best possible lodging services experience to customers who vary in backgrounds, language, tradition, religion and cultures all around the world. Marriot is committed to environmental preservation through using environment-friendly technology and engages in social responsibility and community engagement. We value our shareholder’s so we will only take steps that will ensure our growth. Most importantly, through our â€Å"spirit to serve†, we emphasize the importance of Marriott’s people and recognize the value they bring to the organization’s growth and success. It aims to increase revenues by 9% every year, to increase†¦show more content†¦Accor – This is a private French Company and of the largest employers in the lodging industry. It employs 168,600 employees working in 4,000 properties in 90 countries. It is ranked second with the revenues of $9.03 billion in 2005. It is well known for its upscale brands, Len and Sofitel. Accor also operates and owns stakes in several hospitality and food services. Hilton Hotels Corporation – Hilton was founded in 1946 and headquartered in Beverly Hills, California. It has 2,838 hotels worldwide under the brands Conrad, Doubletree, Embassy Suites etc. HTL operates upscale full-service and limited service hotels in urban, airport, resort and suburban locations. It ranks third in the number of employees (105,000) and revenues ($8.6 billion) but second in net income of $552 million. Intercontinental Hotels Group – It is British company and the most profitable among the four industry leaders. It owns, manages, leases and franchises approximately 3,741 hotels in approximately 100 countries as of 2006. It ranks number one in gross margins (54%), operating margins (24.7%) and earnings per share ($2.10) even if it’s smallest in the strategic group. It appears to be the cost leader among the big four companies in the industry. II. CPM and EXTERNAL FACTOR EVALUATOR Table 1 Competitive Profile Matrix | | |AccorShow MoreRelatedMarriott International Case Study1864 Words   |  8 PagesThe Mega-merger in Hospitality Industry ---- A Case Study of Marriott Internationals Acquisition of Starwood Hotels Resorts Worldwide Introduction On 23 September 2016, Marriott officially announced the completion of acquiring Starwood at the price $13.6 billlion. Lately, it is not surprising to see the report like this has swept over the business sector in the newspaper. Merger and acquisition (MA) have been regarded as a critical part of the framework of doing business in a market economyRead MoreStrategic Management - Case Study Marriott International3852 Words   |  16 PagesManagement - Case Study Marriott International Introduction The report focuses on Marriott International putting strategic management at the center core of analysis and discussion that allows Marriott strengths and weaknesses to be known and be evaluated according to such SWOT related strategies, CPM, EFE, IE matrix and many other important points for strategic management recognition of Marriott International. There is important account to the strategic analysis of Marriott International, thereRead MoreA Case Study on Employee Engagement: Marriott International, Inc.1468 Words   |  6 PagesChallenges for Employers A Case Study on Employee Engagement: Marriott International, Inc. 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For instance EBay’s merger with Skype failed because of technical integration, Wendy’s and Arby failed because of Arbys lack of international exposure, and Chrysler failed because of cultural differences. Although the organizations failed for different r easons, the common trend is not havingRead MoreSwot Analysis : Marriott International, Inc.1421 Words   |  6 Pagesparticipants derive meaning from their surroundings, and how their meanings influence their behavior (Malhotra, 2012). Marriott International, Inc. is a global leading lodging company with more than 4,200 properties among 78 countries and territories. Marriott International announced revenues of nearly $14 billion in fiscal year 2014. Founded by J. Willard and Alice Marriott and guided by Marriott family leadership for nearly 90 years, the company is headquartered in Bethesda, Maryland, USA (Marriott.ComRead MoreMarketing Researchs Crucial Role in Helping Marriott Hotels Essay952 Words   |  4 Pageshotels. Marketing research has been a significant backbone for the success of Marriott. Therefore, marketing research is an important requisite for Marriott to keep track of their changing consumer and business customer needs, to identify new opportunities in the hospitality service sector, to further develop and differentiate its various brands, and to develop strong brand equity. Through marketing research, Marriott has scaled magnificent heights of operational success. Marriott’s framework forRead MoreMarriott International Brand Management Performance Essay1547 Words   |  7 Pagesintangible resources. Raising the value of owners’ equity, financial and business performance can be done by creating a customer-based brand. Market share and financial results determine the business performance of a brand. The paper will focus on Marriott International brand management performance and how the company has skillfully implemented strong branding strategies while operating 16 different brands. The brands studied were The Ritz-Carlton, Courtyard Marriot, Residence Inn Marriot and Fairfield InnRead MoreChallenges of Sustainability Within the Hospitality Industry2152 Words   |  9 PagesUniversity  College  of  Northern  Denmark   CHALLENGES  OF  SUSTAINABILITY  IMPLEMENTATION  FOR  MARRIOTT  HOTELS  Ã‚   RESORTS A  management  case  assignment   by   Kelly  Hrupa   5th  semester  IHM  E  2011 ­2013   submitted  to  the  Department  of  International  Hospitality  Management  in  accordance  with   the  requirements  for  the  PBA  degree   No.  of  characters  (excl.  title  page,  table  of  contents  and  list  of  references):  11883 No.  of  characters  (incl.  title  page,  table  of  contents  and  list  of  references):  14472 Signature:

Health Status and Health Care Services in the United Kingdom Free Essays

Health Status and Health Care Services in the United Kingdom with comparison to the United States HSM-310 Introduction to Health Services Management Course Project Date submitted: 10/18/2009 Table of Contents Executive Summary Population and Health Status†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Demographic characteristics of population Mortality, Infant mortality data, causes of death *Availability of Health Services* Basic organization/general description of services institutions, providers of care Issues related to access Utilization of services (data, if available) Other related information/analysis Expenditures How are health services paid for; any roles for the government here Data on total expenditures *Macro environmental influences on the health care system* Public Private *Summary comments* Problems Opportunities Other related comments regarding this country’s health care services Comparison to the United States: what works better, what is not working as well†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. We will write a custom essay sample on Health Status and Health Care Services in the United Kingdom or any similar topic only for you Order Now Concluding comments: Lessons learned for the U. S. , other countries†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Bibliography (required)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Executive Summary The United Kingdom’s population is growing and the people are living longer, this could be due to the fact that healthcare is free and people are using it when they need it and not waiting to see a doctor when they can afford it. However, with the growing size of the population the cost of healthcare is rising and the need for funding the tax financed health plan needs to be reformed. Hopefully by seeing what other countries use to have a successful health care plan the UK can implement some of their ideas with their own and ucceed at having an efficient and effective health plan that delivers the highest quality of health care. Population and Health Status in the United Kingdom The Office of National Statistics reported that the population in the United Kingdom (UK) was 61. 4 million people in mid-2008, which is a 408,000 increase from the year before. The rise in population over the past 12 months is not due to migration but to the increased number of birth s and the decreased number in deaths (ONS, 2008). It seems that the people in the UK are living longer and leading healthier lifestyles than in the past. The life expectancy at the time of birth for males is 76. 52 years and 81. 63 for females, and the infant mortality rate is 4. 85 deaths per 1000 births (Flag Counter, 2009). Below are the top ten leading causes of death in the United Kingdom: Ischemic heart disease Lower Respiratory infections Cerebrovascular disease Trachea, bronchus, lung cancers Chronic Obstructive Pulmonary Disease Colon and rectum cancers Breast Cancer Alzheimer and other dementias Prostate Cancer 10. Lymphomas, multiple myeloma (WHO,2009) Here in the US we share many of these leading causes except for Lymphomas and Prostate cancer, we add traffic accidents and diabetes mellitus. I would assume this is because Americans drive more than the British and that the general population of the US is overweight, which is a leading cause of diabetes. The US and the UK share nearly the same life expectancy and the infant mortality rate is a bit higher here in the US. Overall the US and the UK share little difference when it comes to life expectancy, infant mortality and the leading causes of death. Availability of Services The UK has a National Health Service (NHS) that is a publicly funded health care service. The NHS is divided into two different sections: primary and secondary care. The primary care section consists of General practice physicians, dentists, optometrists and pharmacist, the primary care section is referred to as the Primary Care Trust (PCT). The Secondary section is made up of acute or elective healthcare options, such as emergency and urgent care, ambulance and surgery, these acute services are referred to as NHS trusts. The PCT oversees around 29,000 GP’s and 18,000 dentists, there are around 175 acute NHS trusts, 60 mental health NHS trusts and 1600 NHS trusts hospitals. Emergency vehicles are also provided by an NHS ambulance services trusts; there are 11 of these ambulance services trust in England (NHS, 2009). The healthcare facilities are basically the same as they are here in the US; there are hospitals, clinics, urgent care facilities, doctor’s offices and pharmacies. The main concern with the access of healthcare in the UK is the waiting times to be seen by a specialist after being referred by a primary physician. In England the wait time is around 18 weeks to see a specialist. Many patients in the UK have said that there is difficulty in accessing GP on the weekends or after-hours as well. As with other nations the UK also has a shortage of healthcare workers which increases the wait times and the quality of care that patients are receiving. The main focus of the NHS is to provide the highest quality of care as well as decreasing the wait times and adding more healthcare facilities. Expenditures The NHS was built on the ideal that healthcare should be provided to everyone regardless of wealth. With the exception of charges for some prescriptions and optical and dental services, the NHS remains free at the point of use for anyone who is resident in the UK. It covers everything from antenatal screening and routine treatments for coughs and colds to open heart surgery, accident and emergency treatment and end-of-life care. The NHS is a tax financed healthcare system, the public pays a higher tax for their healthcare to be free. The Department of Health much like that in the US, oversees the NHS. All employees of the NHS are government employees and are by paid by the government. There is a very small private sector of healthcare in the UK and if you either be seen by an NHS physician or by a private physician whom you would pay out-of-pocket to see. The responsibility for health legislation and policy rests in the hands of the government at the Parliament of Westminster. The treasury/finance ministry set a budget and that determines what share of government receipt will be used to finance the healthcare system. The budget is done in three year cycles. In 2004 the total healthcare expenditure in the UK was 101 billion pounds the funding for NHS alone was 86. 6 billion pounds. The expenditure on healthcare is continually rising. Here in the US the healthcare system is privately funded through grants, donations and fees for service. We pay insurance to cover our healthcare costs or we pay out of pocket for the services. There has been some concern on whether or not the UK NHS system will continue to work, taxes will need to increase and there will need to be more funding. There is a push to have a mixed system that is both private and public. *Macro environmental *Influences There is a common problem with the migrant jump to the UK to take advantage of the healthcare and the citizens are footing the bill. The need for funding for NHS is rising and there is concern on how they are going to continue to pay for the services. The UK is in need of a plan to implement a privately funded healthcare service alongside the tax financed service. Implement co-pays on some of the services that are provided and take into consideration the benefits of including the private sector. Summary Overall the UK has a well implemented plan for their healthcare services, the problems that they face are the same that are faced by many other countries, from funding to the quality and the accessibility of services. In comparison to the US the UK faces many of the same issues, the shortage of healthcare professionals to the need for reform. The universal health care plan has worked for the UK and the private plan has worked for the US in the past but now there needs to be changes made because of the rising cost of healthcare in both countries. The UK is learning that there is a need for change and that by seeing other countries such as the US use private health insurance plans they can create some kind of balance. Bibliography How to cite Health Status and Health Care Services in the United Kingdom, Papers

Classical Conditioning and Ice Cream Truck Essay Example For Students

Classical Conditioning and Ice Cream Truck Essay Functionalistic and Associationistic Theories Discussion 1. What is the different between conditioned and unconditioned responses? Provide at least three examples of each type of response. Conditioned is a learned reaction to a conditioned stimulus that occurs because of prior conditioning and unconditioned is an unlearned reaction/response to an unconditioned stimulus that occurs without prior conditioning. Example: 2. According to Pavlov, what determines how individuals respond to the environment? The momentary cortical mosaic determines how an organism will respond to its environment. Pavlov saw the brain as a mosaic of points of excitation and inhibition. Each point on the brain corresponds to an environmental event. 3. What is the Garcia effect? How can the Garcia effect be used? Garcia effect is a conditioned taste aversion. With the Garcia experiments, rats were given saccharine – sweetened water, causing nausea and illness to the rats. Through the experiments, the rats would avoid the taste after being presented with a new taste. Garcias discovery, conditioned taste aversion, is considered a survival mechanism because it allows an organism to recognize foods that have previously been determined to be poisonous. The Garcia effect has been used to control predators such as wild coyotes that prey on limbs and other livestock. 4. What does it mean when a behavior is classified as a conditioned response? What are some examples of a conditioned emotional response that you have observed in yourself or in a friend? This behavior is a learned conditioned that involves with emotional reactions such as fear, anger or joy. An example of a conditioned response is observing my kids and the ice cream truck. They love ice cream and they get excited to eat it. When they hear the ice cream truck coming they are happy and excited. Their unconditioned stimulus would be the ice cream and their unconditioned response is that they are happy and excited. The conditioned stimulus coming from the music from ice cream truck is targeting their conditioned response making them happy and excited every time when hearing music from ice cream truck. The kids learned when they hear the ice cream truck, they are getting ce cream. 5. How could you use classical conditioning procedures to help someone quit smoking? Smoking is a habit and can become classically conditioned to think of a cigarette every time an individual learn to associate the pleasures of smoking with all of their daily activities they usually perform while smoking. For example, if they smoke while drinking a cup of coffee, the sight and smell of a cup of coff ee could trigger the craving for a cigarette or if they smoke while driving to work, getting into the car can result in a craving for a cigarette. The smoker needs to identify and plan for all of the places and behaviors they associate with smoking before they are able to quit. Once they have identified all the things that trigger them in the craving. They will have to change their daily routine, so they can eliminate the connection between the triggers and smoking. 6. Can Guthrie’s techniques for breaking bad habits be applied to serious problems in a clinical setting? Why or why not? Yes Guthrie’s technique in the three methods for breaking habits involved with the threshold method, fatigue method and incompatible response method can be applied to a clinical setting. All of these methods consist in presenting the cues of an undesirable action and seeing to it that the action is not performed. With Guthrie’s techniques, an individual is entails to getting use to the new habit and also have the ability to repeat the bad habit over and over until they get sick of it. They also will be paring an unpleasant behavior with a more pleasant behavior. .ucff5288499210c6c99bc2e65550bdc59 , .ucff5288499210c6c99bc2e65550bdc59 .postImageUrl , .ucff5288499210c6c99bc2e65550bdc59 .centered-text-area { min-height: 80px; position: relative; } .ucff5288499210c6c99bc2e65550bdc59 , .ucff5288499210c6c99bc2e65550bdc59:hover , .ucff5288499210c6c99bc2e65550bdc59:visited , .ucff5288499210c6c99bc2e65550bdc59:active { border:0!important; } .ucff5288499210c6c99bc2e65550bdc59 .clearfix:after { content: ""; display: table; clear: both; } .ucff5288499210c6c99bc2e65550bdc59 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ucff5288499210c6c99bc2e65550bdc59:active , .ucff5288499210c6c99bc2e65550bdc59:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ucff5288499210c6c99bc2e65550bdc59 .centered-text-area { width: 100%; position: relative ; } .ucff5288499210c6c99bc2e65550bdc59 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ucff5288499210c6c99bc2e65550bdc59 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ucff5288499210c6c99bc2e65550bdc59 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ucff5288499210c6c99bc2e65550bdc59:hover .ctaButton { background-color: #34495E!important; } .ucff5288499210c6c99bc2e65550bdc59 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ucff5288499210c6c99bc2e65550bdc59 .ucff5288499210c6c99bc2e65550bdc59-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ucff5288499210c6c99bc2e65550bdc59:after { content: ""; display: block; clear: both; } READ: Child Abuse EssayGuthrie also uses punishment in breaking bad habits. For example if a person is being punish for a bad habit, that person will try to change their habits. 7. How does Guthrie’s theory of learning differ from Thorndike’s? According to Guthrie, all learning was a consequence of association between a particular stimulus and response. Guthrie argued that stimuli and responses affect specific sensory-motor patterns; what are learned are movements, not behaviors. 8. According to Estes, how is one learning experience generalized to nother? 9. According to Estes’ model of learning, what role does reinforcement play in learning? According to Es tes’ model of learning, reinforcement does not relate to the learning of behavior but he views the role of reinforcement as stresses of the information that it provides to the organism. He believed the reinforcements were learned also, as an outcome of some response. In this view, reinforcement and punishment are performance variables since they determine how material already learned will manifest itself in behavior

Modern marketing approach

Introduction This paper supports the statement â€Å"the product/service dichotomy in marketing theory is no longer sustainable.† The present day marketing approach is a result of the many revolutions and changes that come about in marketing as a result of increased competition.Advertising We will write a custom essay sample on Modern marketing approach specifically for you for only $16.05 $11/page Learn More Modern marketing approach emphasizes â€Å"cost leadership, differentiation and focus† (Baker and Saren, 2010) The cost leadership attribute entails the product cost advantage of the product in relation to existing products in the market. Differentiation emphasizes creation of products with unique qualities that gives it an edge over the other products in the market. Focus on the other hand implies targeting particular market niches either based on age demographics, lifestyle geographic locations or any other appropriate attributes. Pr oduct/Service Dichotomy Product manufacturers often endeavor to achieve customer fidelity by delivering to them goods that satisfy their needs. This has led to the development of the â€Å"product/service mix† as pointed out by Baker and Saren (2010) in this scenario, service as a facet of the mix has continually been growing its importance. Technology and globalization have played a pivotal role in enabling different service providers reach out to the dispersed customers. Web applications for example, powered by the internet enables service providers to serve customers at any point. The earlier marketing approaches placed emphasis on the value within the product, which were always produced and distributed to the wider market. Because the value of the product was seen to be within the product, producers did not have to convince the buyer or persuade them the buy the product. The marketing practice therefore comprised distribution of the products to the â€Å"waiting† c onsumer. The services marketing is said to have come in lime light during the 70s (Schiffman and Kanuk, 2000). The services’ marketing was uniquely packaged to center on individual services and making it different from the traditional goods marketing. There was a visible difference between manufactured goods and services in the sense that goods are tangible and can be felt whereas services are not.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Continuous market dynamics and technological advances have seen manufacturers shift from the old method of manufacturing for a speculated market to a situation where they accurately predict the customers needs and respond to them appropriately. By addressing the customers’ needs, manufacturers aim at creating customer dependency to their products and are assured of them buying. This process calls for the need to carry out a feasibility study well in advance to establish what the customer needs and then customizing the products to feed the customers’ needs (Baker and Saren, 2010) Manufacturing companies have come with different ways of customizing products to fit individual needs; this can either be through use of colours that are synonymous to a certain group or tags that can be identified with a target market. The books sector is a good example where customers have widely applied the strategy of â€Å"product personalization† by providing them with unique names (Schiffman and Kanuk, 2000). High levels of competition and technological advancements have consistently pushed manufacturers and service providers into a need to pay more attention to the customer. They have been forced to categorize customers and strive to satisfy each customer’s unique need. There is a growing â€Å"perception that goods and service are similar,† this as pointed out by Lusch and Varg (2006) is as a â€Å"re sult of co-production.† The shift towards the notion that goods and services are similar has led to studies into the need for customer integration. Researchers on the subject-customer integration have often pointed out that the process allows customers to take part in adding value to the products. Through customer integration, Lusch, and Varg (2006) argues that three levels of serving the customer; â€Å"the facilities level, transformation and utilities.† The practice also enhances decision making, value addition and resource utilization. The support structure for the three levels of service provision is usually founded on the difference between â€Å"direct and indirect service provision.† In this framework, the resources service provision level brings integration when there is an exchange between a company and the customer (Lusch and Varg 2006). The structure also helps in identifying who between the customer and the service company is responsible for the expr ess and circuitous provision of services.Advertising We will write a custom essay sample on Modern marketing approach specifically for you for only $16.05 $11/page Learn More At the decisions level, the support framework indicates that there is a relationship between the company and the customer at the point of making a decision. The value addition stage of value provision on the other hand indicates that customers and service companies collaborate in service provision. Niche Targeting Most recent marketing strategies target particular groups of people classified either according to age, gender, social status or job. Marketing attempts directing towards the youth for example are more frequent as a contemporary marketing approach. In this case, the marketing team studies the bahavor of its target market and develops a product that is customized to fit the needs of the chosen niche. This is common for example with the fashion companies, mobile phone manuf acturers and mobile service providers. Increase in the number of firms engaged in the production of similar goods or provision of similar services is responsible for the increased competition. Each organization strives to attain levels of competitive advantages over the others. Michael Porter formulated three important strategies which business organizations can use to gain competitive advantage; he points out â€Å"cost leadership, differentiation and focus† (Zeithaml, etal., 2005). As the main strategies for attaining competitive advantage. Current marketing strategies seem to have outgrown Porters’ strategies The modern marketing strategies emphasize the need for market segmentation as opposed to Porters’ three strategies alone. In the old days, price and product sophistication was used as a strategy to create market segments. Product pricing often meant that the product is affordable to a particular group of people by default and not some. Depending on the l evel of sophistication, a product would by default of preference to a particular social class. This type of strategy requires a substantial amount of promotional effort which results in a product that serves a narrow market segment rather than the mass market. The approach to niche marketing in the present day scenario requires inclusion to ensure sustainability. This means the modern approach to niche marketing is more focused to unique abilities and talents among people rather than in the different categories of people.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The unique abilities and skills may lie in the type of technology used by the organization or the unique talents among the organization’s manpower. (Palmer, 1997) points out the strategy that Apple Company has been using to make its i-products stand out of the competition as a typical example of this. The Dynamics of the Niche Market Niche markets are often very vibrant and keep on evolving with time. An organization can capture a niche and own it for time and loose it to other competitors in the field with time. Schiffman and Kanuk (2000) points out that shopping malls were niche markets for quite some time, he observes the changes that have occurred since then exposed malls to stiff competition. The same scenario is said to have happened to watch brands such as; Dual time. Changes in lifestyle, technology taste and preference among consumers contribute to the frequent shifts in the niche market. One would observe that what is considered fashionable within a given niche may not last long as other products keep on being launched into the market. Goods meant for niche marketing are often tailored to some technology and marketing procedure that fits the desired niche. The market usually begins with a boom but is filled up with competitors with time. This means that if an organization is to focus on niche marketing, then it must develop the most innovative strategies and be ready to continuously evolve and seek new niches for its products. Focus to a particular niche requires robust support in terms of resource but it does not necessarily translate into large revenue output. It is therefore not advisable for a particular firm to target niche marketing as a sole strategy for its product line. There is need to diversify into other strategies to cushion the organization from diverse effects of niche marketing incase of poor performance (Zeithaml, etal., 2005). Such an organization must also invest in developing right talents that can formulate and put into op erations appropriate strategies to achieve success. A niche in this case can not be looked at as a marketing strategy, rather it is a process resulting from an organizations’ proficiency in producing products that appeal to a particular group of people (Gilmore, 2003). Attaining sustainability in this course requires continuous innovation both in marketing skills and product development. Inclusive networking and sourcing ideas globally stands out as one of the strategies to successfully run a niche market. Niche marketing must strive to uniquely package products and invest in efficient manufacturing processes, cost effective distribution channels and adopt different marketing strategies. Technology serves as a major pillar in attaining the mentioned attributes. Technologically supported manufacturing, distribution and marketing helps in cutting down on cost and achieving high profit margins. Computer aided manufacturing and computer aided design are the key technological tool s that have helped in increasing manufacturing precision, reducing wastage and developing goods that suit the customers taste and needs. In supply chain, technological tools such as; RFID and EDI play an important role in speeding up the process and eliminating errors in the supply chain (Pasuraman and Berry, 2004). Leadership and sustainability in niche market is squarely based on the profitability of the strategy used. In order to attain leadership, there is needs a sound strategy that serves the whole market. This requires that an organization can be able to serve the market with as many products as possible at a minimum cost Pasuraman and Berry (2004) indicates that there is need to pursue â€Å"scale, scope and niche in a single business model in order to attain leadership in niche marketing.† Product/service dichotomy hampers development of marketing strategies The idea of creating a division between the approaches to service and product marketing makes it hard to devel op successful marketing strategies. Marketing of consumer and industrial services ought to be treated as one to allow the use of similar strategies in either. Often those who support the division of the product and services stress on differences in terms of the structure, marketing approach, response to environmental pressure and their markets. On the other hand, those opposed to this argument feel the dichotomy approach falls short in reality in the sense that; products and service marketing are similar. The only difference as pointed out by Rathmall (1974) could be in terms of the sizes of the companies involved. Division of marketing for products and services is often used as the platform for developing marketing theory and their application. Here, the dichotomy serves as a guide for developing distinct marketing actions tailored to particular products, enterprises and market divisions. Service marketing tends to target the final consumer as opposed to industrial product marketin g that targets buyers within the supply chain. Probably according to Rathmall (1974) this is what describes the difference between the two as far as marketing entails. Environment and company size are the main distinctions in product and service dichotomy. Environmental influences which undermine marketing efforts such as infrastructure can be a basis for differences between product and service marketing. Company size dictates the amount of resources available for investing in the marketing. Amount of resources available for marketing puts different platforms as far as marketing of products and services concerns. The Size of the Firm vs. Marketing Activities Most small firms often use contemporary marketing approaches building it both on the relational and transactional marketing theories. This brings on the same platform the marketing practice adapted by both small enterprises and the big ones. Traditionally, only the big firms used the transactional and relational marketing theori es to develop marketing strategies for their products. The size of an enterprise plays an important role in the manner in which the enterprise plans its marketing. Often, small enterprises adopt informal type of marketing plans unlike large enterprises which formulate formal marketing plans. Generally, there are several similarities between the informal and formal marketing plans adopted by small and large enterprises. There are wide similarities between in how the marketing decisions are developed and implemented. The general decision making strategies are used by both the small and large enterprises to develop marketing decisions. Another similarity is exhibited in customer relations duration anticipated by both product and service providers. They all aim at developing a sustainable customer relation, to achieve this; a lot of emphasis is placed on effective customer relations. Another similarity between small and large enterprises lies in the manner in which they develop and keep their customer contacts. Right from the first transaction with the customer, both large and small enterprises seek to keep the contacts of the customer for purposes of future communication and interaction. Enterprises often have a database of customers to act as a reference to track the customers buying behavior. Marketing as a process requires an investment to enable logistical procedures and planning. The only difference regarding investment in marketing is reflected in the budget but both the product enterprises and service enterprises must invest in marketing. It has also been noted that both small and large enterprises practice some aspects of traditional marketing. The problem of using traditional marketing approaches often has been lack of compatibility with the modern environment and customer behavior. Generally, by small enterprises adopting broad marketing strategies, they reduce the marketing distinctions between them and large enterprises. Small enterprises are continuo usly emphasizing investment of financial resources, time and effort in the development of personal relationships with the customers and raising their competitive levels in the market. Relational marketing provides an effective strategy for small firms to be as competitive as large firms. By enhancing the use of traditional marketing strategies, small firms can create a stable base from which they can strengthen their customer relations and be in a better position to compete the large firms. Planning and performance evaluation is another area that brings out more similarities between large and small enterprises’ marketing strategies. As pointed out earlier, small enterprises adopt a rather informal marketing plan, modern small business managers are increasingly coming to the realization of the need to adopt formal marketing plans to compete effectively with large firms. Another implication from marketing planning is that there is no empirical support of planning to performance in marketing. Palmer (1997) argues that whether a firm large or small adopts a formal plan, the difference might only be in the structure of the marketing approach but not necessarily in performance. Since evaluation of a marketing plan rates performance, planning may not be a strong factor as such. Firms should rate their marketing performance majorly from the customers’ response as well as their feedback. Marketing in the Service Industry Service industries, like industrial companies must constantly revolutionize their marketing strategies to put themselves in strategic positions in relation to the customers. There is in fact a higher need of growth and development in the service industry than in industrial markets. The major challenge in the service industry as pointed out by Palmer (1997) is the continuous fluctuation of overheads. The service sector became a prominent part of the economy towards the end of the twentieth century and has continued to play an important rol e in supporting economies. The sector continues to be a major source of employment, and therefore an excellent need for the services to be looked as importantly as the goods industry. Taking the service industry with the same weight as the goods industry should then be translated to the marketing approaches and strategies applied in both industries. Distinction of marketing strategies between goods and service industries would mean lead to making ineffective the traditional marketing strategies that have been existence for long. This is because the service industry as indicated earlier is a new venture in the world. Compared to goods industry which has been in existence for several years, with already established marketing strategies, it is important that the service marketing industry. Service purchase involves dealings which unlike the goods industry do not lead to material ownership. Since the emergence of the services industry, marketing of its products has been continually chan ging to take the same line as the products industry. The 4ps model of marketing has often been cited as inadequate in selling services Gronroos (1990) proposes an enrichment factor to this model in order to suit the service industry; â€Å"process and the participants should also be added to the list to make it effective as a services marketing tool. Time and speed are two other important elements of service marketing as pointed out by Palmer (1997) customers always make a repeat order for services from a provider that guarantees maximum effectiveness, efficiency and also delivers to the promise. The marketing speed is however an element that is controlled solely by the marketers. Services in which speed is important include; the food industry due to its perishable nature, transport service is another sector where speed of service delivery matters a lot. Integration of Product and Service Marketing Services do not have tangibility as opposed to goods, goods have evidence. Gronroos (1990) points out that â€Å"some pieces of evidence bundled with services can not be categorized as a true element.† However, service evidence as pointed with plays an important role in the fulfillment of the service. Customers use service evidence to appraise the performance of the service provider. Evidence in the service provision process helps minimize risks and gives the customer more confidence to purchase the service. Besides, evidence also helps to distinguish one service from another. Providing Evidence in Service Marketing Dichotomy is often used as evidence by service providers, â€Å"the quality of the product that accompanies the service they receive† (Bell, 1973) this includes the cost of equipment used to provide the service. Taking an example of a lodging or restaurant, cheap lodging or restaurant equipment implies poor service and expensive equipments on the other hand translates to classy services. This fact is used to differentiate service providers in terms of quality. Branding is also used as evidence in service provision. Borden (1965) points out that â€Å"service branding makes the product acceptable.† Once a service provider brands a service and runs a campaign to make it popular, customers develop more confidence in the service. A popular brand develops the customers’ confidence and reduces their perception of underlying financial risks in buying the service. The brand acts as evidence to what the customer can not feel or touch. Customers develop strong confidence in popular brands and buy them with same ease as a visible product. Branding consists of two stages; primary and secondary. The primary state consists of tangible evidence about the product which as earlier mentions lacks in services. Bell (1973) suggests that â€Å"the name of the service provider can be used as a primary brand.† The secondary brand then follows on the description given to the service. Companies distributing strong brands in the markets stand out of the rest because of the brand name. The environment in which the service is used can also serve as evidence for the service. Marketers can rely on this factor, to market the service as easily as they can to a product. The environment in which a product is used gives an opportunity for a marketer to create a mental picture of the service to the potential buyer. Borden (1965) indicates that a marketer out to create awareness of services provided by an amusement park can use words like â€Å"fun filled or enjoyment place† to create a mental picture about the park to the customer. The marketing message is another sort of evidence marketers in the contemporary world use to convince consumers about the service. Besides the message, customers are also given some incentives to lure them to the service. Mobile phone service providers for example promise free call time or launch a competition in which users of the service stand a chance to win some gifts. T his strategy is one of the best that marketers have focused on to convince consumers to use their services. This is described by Assael (1987) as the â€Å"power of communication† in which a market tends to glorify the service to the consumer. Along the same vein, the media has become a prominent tool with which marketers use to spread their service messages to the consumer. Service structure is another important tool for marketers, service marketers need to create structures which they can use to appeal and convince the customer why he or she should use the service. These structures could be in form of the tools that the service provider uses to deliver the service. Assael (1987) suggests that an air transport service provider can flaunt to the customer about the best airplanes in the company possession. With this structure, a marketer can make the customer imagine how good it is to use the service. By seeing the best rated airplane for example, a customer can be convinced t hat the service provided will be classy. Conclusion This paper has demonstrated that the product service dichotomy is increasingly loosing popularity in the modern business world. Although seen as a step towards the creation of market segments for products and service. Creating a distinction between products and services for the purposes of marketing is increasingly becoming a thing of the past as market researches continue pouring new approaches to integrate service and product marketing. References Assael, H., 1987. Consumer Behavior and Marketing Action. Boston: Kent Publishing Company. Baker, M. and Saren, M. 2010. Marketing Theory: a Student Text. London: Sage Publications. Bell, D., 1973. The Coming of the Post-Industrial Society. New York: Basic Books. Borden, N. H., 1965. The Concept of the Marketing mix. New York: John Wiley Sons. Gilmore, A., 2003.Services marketing and management. London: Sage Publications Gronroos, C., 1990.Services Management and Marketing. New York: L exington Lusch, R. F. and Varg, S. L., 2006. Theservice-dominant logic of marketing: dialog, debate, and directions. New York: M. E. Sharpe, Inc., Palmer, A., 1997. Principles of Service Marketing.London: McGraw Hill. Pasuraman, A. and Berry, L. 2004. Marketing Services: Competing Through Quality.New York: Simon Schuster Rathmall, J. M., 1974. Marketing in the Service Sector. Massachusetts: Winthrop Publishers, Inc Schiffman, L. and Kanuk. L. L., 2000. Consumer Behavior. New Jersey: Prentice Hall. Zeithaml, V. A. etal., 2005. Services Marketing: Integrating Customer Focus across the Firm. London: McGraw-Hill. This essay on Modern marketing approach was written and submitted by user Emmett Hewitt to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Marketing Logitech Essay Example

Marketing Logitech Essay Example Marketing Logitech Essay Marketing Logitech Essay This will assist in ensuring security of files, give reservations, check body temperature as well act as a digital photo display. The packing will Include a USB cord to charge the mouse, a pair of AAA batteries to power it up, an instruction manual and a carrying case. 3. Augmented Product A warranty of one year comes with the device, which will replace the mouse in case of malfunction and also provide free maintenance for another 6 months since. Price: We will be pricing the Super Mouse at AS 150 In the Singapore region. This will account for the production, distribution, marketing as well as the RD costs incurred. Cost based pricing strategy is used here keeping in mind that cost of reduction is S$ 100 and targeted profit margin is 50%. Place: we will be using the selective strategy to distribute our product. Stores like Mustang Centre, Best, Courts, Challenger, Audio House and other Electronic shops have been contracted to strategically place our product in their shops in a way that customers notice it. We will be using our well-established distribution lines to ensure there is enough stock In each of the stores. Apart from this the company will be holding a gamers meet where teenage gamers will be given the opportunity to test out the mouse on a more practical environment. This will create awareness as well as a recreational opportunity for the prospective customers. Promotion: we wall De using two moments AT ten Promotion mix to promote our product: 1 . Advertising The main source of our promotion will be advertising which will mean setting up banners and posters in important social gathering places like Orchard, Somerset, Dhobi Aught and Warburton MR. stations and connected malls. We have also contracted buildings to air our advertisements on their big screens so that commuters using buses and personal vehicles also will be made aware of the product. 2. Sales Promotion As mentioned earlier in the Place Mix, we will be conducting a social gamers meet where we will be providing a 10% off on the mouse for those who participate. We will also make available gift vouchers, which can be purchased at the meet. Implementation This product will launch in October of 2013 giving time for pre-launch advertising and production.

Analysis of Newspaper Article-Free-Samples-Myassignmenthelpc.com

Analyse Newspaper Article of your Choice. The article that has been chosen for analysis is based on the â€Å"Tillerson sacking† decision that has been taken by Trump. The dismissal of Rex Tillerson from the post of the Secretary of the State was a decision that was taken by Donald Trump with an aim to reduce the divisions of the US administration related to the key issues of foreign policy. The argument on which the entire analysis of the article will be based is â€Å"whether the moves made by Donald Trump were able to reduce the divisions related to the decisions made about the key foreign issues† (Hammond, 2018). I do not agree with the â€Å"America First† movement that had been taken by Trump when he moved into the White House for the first time. The President of America mainly tried to develop its policies related to the foreign policies of the country. Trump has failed in the attempts that were undertaken by him over the years (Acharya, 2014). However, I agree that Trump has taken many steps regarding the shifts to be made from the orthodox methods of governing the country by the Republican and the Democratic presidents in the past. He has made many alliances in order to expand the democratic order of the country that is liberal in nature. The President has withdrawn the US alliance with many important treaties like the Trans-Pacific and the Asia-Pacific Partnership. The country has also withdrawn from the climate change related deal that is signed by greater than 170 countries. The above two deals were made under President Obama and Trump took back the key initiatives that were taken by the previous government. The nuclear agreements that were made by the country with Iran are also under serious jeopardy after the various decisions taken by President Trump (Aradau & Huysmans, 2014). I disagree with the dismantling of policies that have been undertaken by the US government during the last year. The President has been in the position for over a year now and still he has not been able to deliver the promises that were made by him regarding the changes in the foreign policies of the country. The President has not been able to bring any developments in the policies and the international treaties made by the country during the last year (Temby, 2015). I agree with the reviews that were made by the research firm named Gallup regarding the worst image of the leadership of the United States of America that has been formed in the last year. The leadership of the country under Trump was found to be weaker as compared to 134 other countries in the world. The New York Times has reported that the president was totally unable to deliver according the huge promises that were made by him during the last year. The approval of the US leadership was found to be the lowest of about 30% under the governance of Trump (Baylis, Smith & Owens, 2017). I agree with the poll that was undertaken by the organization named Pew Global which in the past year which depicted that more than thousands of the citizens of USA were not happy with the leadership of Trump. The policies related to global issues that were made by Trump were also not satisfactory for the people of his country. The poll further depicted that the support that was gained by Trump was even lesser than the support which was received by George W. Bush after the major controversy that had occurred in the country related to Iraq (Fierke & Jorgensen, 2015). I agree with the step that was taken by Trump regarding the dismissal of Tillerson from the position of Secretary of State and further appointment of Pompeo in the same position. As has been discussed in the article this can be a suitable step for the development of the country and increasing the harmony between the United States of America and the other countries. The reason being that the policies related to global warming may be formed in a better way by Pompeo as compared to those formed by Tillerson (Hammond, 2018). However, the change in the Secretary of State may not have significant effects on the foreign policies that will be formulated by the US government in the future. The nature of the President regarding the ways by which he deals with the officials of the government can still lead to problems related to the formulation of policies. I agree that the ways by which Trump performs his responsibilities may lead to many issues between him and the officials of the government. The foreign policy of USA has been the most affected by the decisions that have been taken by Trump during the year of his tenure. The dismissal of Tillerson and the appointment of Pompeo in the position of Secretary of State can help in the improving the position of USA in the style of leadership that is followed (Holmes & Traven, 2015). I agree with the fact the governing style of Trump depicts that lack of experience and the lack of knowledge regarding the international problems as well. This has further led to an ad hoc process of governing the country by the President. I disagree with the fact that the decision that was taken by Trump regarding the change of the Secretary of State was entirely wrong. The number of conflicts between Tillerson and President Trump has been high and they had difference in opinions in many situations. The appointment of Pompeo can further help the government in making changes in the foreign policies and making improvements in the international affairs of the country (Kelley & Simmons, 2015). The analysis can be concluded by stating that the steps undertaken by Trump to develop the foreign policies of the country were not successful initially. However, the appointment of Pompeo in the position of the Secretary of State can be a huge step towards the development of the country and the improvement of the international relations. The major reason behind making this statement is that the less knowledge of the President regarding international affairs can be complemented by the huge knowledge base of Pompeo. Acharya, A. (2014). Global International Relations (IR) and Regional WorldsA New Agenda for International Studies.  International Studies Quarterly,  58(4), 647-659. Aradau, C., & Huysmans, J. (2014). Critical methods in International Relations: The politics of techniques, devices and acts.  European Journal of International Relations,  20(3), 596-619. Baylis, J., Smith, S., & Owens, P. (Eds.). (2017).  The globalization of world politics: an introduction to international relations. Oxford University Press. Fierke, K. M., & Jorgensen, K. E. (2015).  Constructing International Relations: the next generation. Routledge. Hammond, A. (2018).  Tillerson sacking will not reverse Trump’s foreign failures.  The Age. Retrieved 14 March 2018, from https://www.theage.com.au/world/north-america/tillerson-sacking-will-not-reverse-trump-s-foreign-failures-20180314-p4z4at.html Holmes, M., & Traven, D. (2015). Acting rationally without really thinking: The logic of rational intuitionism for International Relations theory.  International Studies Review,  17(3), 414-440. Kelley, J. G., & Simmons, B. A. (2015). Politics by number: Indicators as social pressure in international relations.  American journal of political science,  59(1), 55-70. Temby, O. (2015). What are levels of analysis and what do they contribute to international relations theory?.  Cambridge Review of International Affairs,  28(4), 721-742

Challenges Facing The Decision-Making Processes Among Leaders In Research Paper - 3

Challenges Facing The Decision-Making Processes Among Leaders In Learning Institutions - Research Paper Example The researcher states that leaders of educational institutions are therefore compelled to adopt and sustain their managerial and decision-making processes to be able to give guidance to their subordinates as well as to their student body in order to promote a successful school culture. In addition, the making of decisions in diverse learning institutions has to take place through delegation of roles to various groups of individuals in the teaching faculty and/or student body known as ‘task teams/groups’. Some of the leadership roles may be external such as exhibited by a ‘Board of Governors’. Internal task teams are such as the ‘student committees’. The challenges and problems existing in the use of committee models and task groups in decision making are what informs my research topic ‘Challenges Facing The Decision-Making Processes Among Leaders In Learning Institutions’. I will consider some of the challenges that one is likely to meet when dealing with groups, especially in learning institutions. My purpose in my research proposal will be to come up with modalities of management essential in leadership and to further make a design that will assist in the running of task groups in view of enabling effective delivery of all the processes of delegation especially in areas where routine and decision making tools are always required. I chose this research topic because it will assist my leadership project in achieving my career goals and also in view that not all of us can be leaders, not at the same time anyway.

Hydrogen Fuel Cell Essay Example | Topics and Well Written Essays - 1500 words

Hydrogen Fuel Cell - Essay Example The end of inexpensive sources of energy, brought about largely by the Arab oil boycott, made the search for energy alternatives imperative. Several companies are developing fuel cells that they hope will replace conventional internal-combustion engines in automobiles over the next few decades. According to a report fuel cell developers nowadays, even government agencies, and automakers are working hard to accelerate the introduction of fuel cell toward commercialization. What is fuel cell all about How effective it is According to a website "A fuel cell is an electrochemical device that combines hydrogen and oxygen to produce electricity, with heat and water as its by-product. As long as fuel is supplied, the fuel cell will continue to generate power. It produce electricity through electrochemical reactions. No other energy generation technology offers the combination of benefits that fuels cells do. In addition to low or zero emissions, benefits include high efficiency and reliability, multi-fuel capability, durability and ease of maintenance." It aims to have a clean transport for the future. Fuel-cell technology that promises to revolutionize the global car business is now coming to market" according to a newspaper article. Fuel-cell technology is particularly suitable for city buses because it offers much lower noise levels and has no polluting emissions. Efficiency of Fuel Cells Many large automakers are now adapting fuel cell technology for automobiles. It is proved as a good substitute to gasoline. It is found cleaner, because of hydrogen. Fuel cells produce only pure water as exhaust. It only produce far less pollution than conventional technologies. Quieter, vibration free and more energy efficient than internal-combustion engines. Fuel cells combine hydrogen and oxygen electrochemically without combustion to supply electricity. Fuel cell engines will likely run on conventional gasoline, but with a fraction of the emissions of a normal engine. The fuel cell is also being explored as a way to generate electricity. In a fuel cell, hydrocarbons are combined with oxygen to produce electricity directly, much the same way lead is consumed to make electricity in a storage battery. Fuel cells are more efficient than conventional power plants because there are no turbines or other mechanical devices to waste energy through friction or heat. The website added (www .fuelcelltoday.com) "Operating times are much longer than with batteries, since doubling the operating time needs only doubling the amount of fuel and not the doubling of the capacity of the unit itself." Until now, fuel cells have been small devices. However, the Pratt and Whitney Aircraft Division of the United Aircraft Corporation is planning a 26 megawatt portable fuel cell generator that will produce enough electrical power for 20,000 people. This plant is designed to use natural or synthetic gas and to provide an economical and pollution-free means for power companies to meet peak load demands. According to Fuel Cell Market, fuel cells are found "Reliable. Because the absence of combustion and moving parts means that fuel cell technologies are expected to provide much improved reliability over traditional

Importance of Internet Banking Essay Example for Free

Importance of Internet Banking Essay From Wikipedia, the free encyclopedia Jump to: navigation, search This article is about asymptotic stability of nonlinear systems. For stability of linear systems, see exponential stability. Various types of stability may be discussed for the solutions of differential equations describing dynamical systems. The most important type is that concerning the stability of solutions near to a point of equilibrium. This may be discussed by the theory of Lyapunov. In simple terms, if all solutions of the dynamical system that start out near an equilibrium point stay near forever, then is Lyapunov stable. More strongly, if is Lyapunov stable and all solutions that start out near converge to , then is asymptotically stable. The notion of exponential stability guarantees a minimal rate of decay, i. e. , an estimate of how quickly the solutions converge. The idea of Lyapunov stability can be extended to infinite-dimensional manifolds, where it is known as structural stability, which concerns the behavior of different but nearby solutions to differential equations. Input-to-state stability (ISS) applies Lyapunov notions to systems with inputs. Contents [hide] †¢1 History †¢2 Definition for continuous-time systems o2. 1 Lyapunovs second method for stability †¢3 Definition for discrete-time systems †¢4 Stability for linear state space models †¢5 Stability for systems with inputs †¢6 Example †¢7 Barbalats lemma and stability of time-varying systems †¢8 References †¢9 Further reading †¢10 External links [edit] History Lyapunov stability is named after Aleksandr Lyapunov, a Russian mathematician who published his book The General Problem of Stability of Motion in 1892. 1] Lyapunov was the first to consider the modifications necessary in nonlinear systems to the linear theory of stability based on linearizing near a point of equilibrium. His work, initially published in Russian and then translated to French, received little attention for many years. Interest in it started suddenly during the Cold War (1953-1962) period when the so-called Second Method of Lyapunov was found to be applicable to the stability of aerospace guidance systems which typically contain strong nonlinearities not treatable by other methods. A large number of publications appeared then and since in the control and systems literature.More recently the concept of the Lyapunov exponent (related to Lyapunovs First Method of discussing stability) has received wide interest in connection with chaos theory. Lyapunov stability methods have also been applied to finding equilibrium solutions in traffic assignment problems. [7] [edit] Definition for continuous-time systems Consider an autonomous nonlinear dynamical system , where denotes the system state vector, an open set containing the origin, and continuous on . Suppose has an equilibrium . 1. The equilibrium of the above system is said to be Lyapunov stable, if, for every , there exists a such that, if , then , for every . 2. The equilibrium of the above system is said to be asymptotically stable if it is Lyapunov stable and if there exists such that if , then . 3. The equilibrium of the above system is said to be exponentially stable if it is asymptotically stable and if there exist such that if , then , for . Conceptually, the meanings of the above terms are the following: 1. Lyapunov stability of an equilibrium means that solutions starting close enough to the equilibrium (within a distance from it) remain close enough forever (within a distance from it). Note that this must be true for any that one may want to choose. 2. Asymptotic stability means that solutions that start close enough not only remain close enough but also eventually converge to the equilibrium. 3. Exponential stability means that solutions not only converge, but in fact converge faster than or at least as fast as a particular known rate .

Freedom of Speech -- Censorship Rights Essays

Freedom of Speech Freedom of speech is something that, traditionally, has been unique to the United States. In fact, it was one of the founding principles of our country. It was the group of repressed colonists that decided that they would no longer accept the fact that they were not allowed to speak out against the throne. They decided that they would not accept not being able to denounce the Church of England. And on July 4, 1776, what could be seen as one of the boldest forms of speech ever ensured that never again would American's be subject to the harsh regulation of Great Britain. Then, in 1789, our nation's forefathers made it official with the ratification of the U.S. Constitution, including the first of ten amendments: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.1 Ever since, the United States has been a country known, and in some cases hated, for the freedom it promises to its citizens. As we move into the 21st century, not only do we have speech in the form of oral communication, written correspondence, and even physical action, we have the internet - a global network by which people communicate regardless of their geographic location. Today we see the internet as a vast resource which is exploited for its business prospect as well as its entertainment value. However, there is a problem: Bringing the rest of the world on board with the standards of the United States - or perhaps less arrogantly put - bringing the United States on board with the standards practiced by rest of the worl... ...e only way for everyone across the globe to be able to embrace their individual freedoms while not imposing on the innocent who wish to remain just that - innocent. Bibliography 1 Harjinder Rahanu, "Freedom of Speech", paper, University of Wolverhampton, 2003/2004, 23. 2 Winchel "Todd" Vincent, III, "Freedom of Speech in Cyberspace: Are You a Criminal?", paper, Georgia State College of Law, 1996, 25. 3 "Freedom of Speech is Not Absolute", editorial, CaymanNetNews.com, 2000, 1 4 P. Bernt Hugenholtz, "Copyright And Freedom Of Expression In Europe", paper, University of Amsterdam, Institute for Information Law, 2000, 16 5 Sara Baase, A Gift of Fire (Upper Saddle River, NJ: Pearson Education/Prentice Hall 2003) 401-420 6 National Coalition Against Censorship, "Internet Free Expression Alliance", paper, National Coalition Against Censorship, 1998, 1

How Does Robespierre Justify the Use of Terror?

What began as a march to Versailles to acquire King Louis XVI’s attention to end the grievances of the general population in 1789, soon spiraled into what became known as The French Revolution. With the execution of Louis XVI in 1973, this new â€Å"regime† still had many problems to overcome including the continuing war that constantly needed men and money. The National Convention (which was created in 1792 as part of a campaign to convert France into a constitutional monarchy) amid high pressures, decided to set in place a centralized government which provided everyone with food, support and direct the war effort, and punish counterrevolutionaries (611). Headed by Maxmilien Robespierre, this new government was based on the principles of virtue, in which the government sought to educate and/or force the citizens to become virtuous. Inspired by enlightenment thinkers Montesquieu and Rousseau, he believed in the importance of a government by terror. Robespierre justified his beliefs by saying stuff like: â€Å"To punish the oppressors of humanity is clemency; to forgive them is barbarity. † So began what is now known as the Reign of terror. Robespierre strictly believed that â€Å"terror† would set the citizens in place; with this terror, the public along with the upper class could be controlled. This so called terror was blanketed with the idea of nationalist pride- pride in their nation, backed by songs, posters, books, engravings, paintings, sculptures, and slogans (615). Robespierre justified his regime by constantly exclaiming that virtue was born from terror. Robespierre said, â€Å"The government in a revolution is the despotism of liberty against tyranny. â€Å" Although this quote seems confusing at first, further studied despotism is another word for tyranny or dictatorship, which basically means that a government in revolution is the tyranny of liberty against tyranny- the tyranny of freedom over tyranny. Before his reign, the guillotine was used for only nobles condemned to death and commoners were usually hanged, but when in power it was Robespierre’s instrument of choice when it came to dealing with the people that disagreed with him or was a threat to the government. Also created was a Committee of Public Safety, which sent deputies on missions to purge unreliable officials and organize the war effort (612). Of course, with every regime, there is always a resistance. In this case, many were unhappy and showed their unhappiness. Soon it all turned into a civil war with the appearance of many counterrevolutionary armies and uprisings. â€Å"Across the country, the official Terror cost the lives of at least 40,000 French people, and as many as 300,000 (1/5 of the French people) went to prison as suspects between March 1793 and August 1794 (619). Robespierre was overthrown on July 27 of 1794 and was executed the next day on the guillotine. Some 150 years later, we saw more leaders who possessed the same ideologies: Stalin, who himself launched what was known as The Great Purge to get rid of people accused of treachery and treason in the Communist Party and Hitler, who rose to power by initially winning the hearts of people by starting a new movement totally different from the movement. Today, we see the same agenda on the minds of terrorists. Since a great deal of the human population have a greater understanding of democracy and many are democratic nations, it isn’t common to see a leader who will take complete charge, become a dictator and issue a reign of terror. There are, of course, many militant groups that form and commit acts of terrorism with the thought that â€Å"fear will instill virtue. † These days, people are more resistant to being forced to do something, even if it is violent. There will be a great resistance and the people who attempt to use fear to instill virtue will be put on most wanted and threat lists by many nations.

How is sociology important in your family Essay

John J. Macionis explains the importance of sociology in family in the thirteenth chapter, ‘Family and Religion’ of his book ‘Society, The Basics’. When the analysis is done on micro-level we learn that individuals get formed up and learn a lot through the experience of family life. Members of the family especially children build emotional bonds, become intimate with one another and above all are taught about their culture and values. Family gives an ideal picture of marriage and it is seen that matured individuals in United States find great pleasure in upbringing their own children. The structural functional approach of importance of family for society at macro level according to Macionis is, The family performs vital tasks, including socializing the young and providing emotional and functional support for members. The family helps regulate sexual activity. The social conflict approach is, The family perpetuates social inequality by handing down wealth from one generation to the next. The family supports patriarchy as well as racial and ethnic inequality. The symbolic interaction approach is, The reality of family life is constructed by members in their interaction. Courtship typically brings together people who offer the same level of advantages. (Society, The Basics, Chapter Thirteen, Family and Religion, Page- 24) Macionis explains how is sociology important to your family and family is also equally important to the society. In fact, describing the basic concepts of the family, Macionis explains that Family- a social institution found in all societies that unites people in cooperative groups to oversee the bearing and raising of children. (Society, The Basics, Chapter Thirteen, Family and Religion, Page- 2) As there have been development and changes in the society, family structure as well as cultural norms have also changed and modified. There have been both pros and cons of the development and they need to be understood in order to prevent the dark effects of progress on society and families as well. The family performs a lot of duties, which includes mainly of providing material and emotional security to its members and socialization. Due to increase in divorce rates and broken families these duties are not completely performed. Society depends upon families in many aspects and family on the other hand plays a role in social classification based on values and ethics. Macionis writes that every marriage consists of two dissimilar relationships in which one is that of men and the other of women. The expectations and anticipations of both the genders are different but marriage stays on the pillars of mutual understanding. People’s thinking have changed regarding having babies through new technologies of reproduction which help reduce the rate of birth defects and also help those couples have their own children who suffer with some deficiency or so. There has been stress on the importance of religion on society and individuals and history depicts that there have been many social reform movements that have been promoted due to religiosity. It is believed that outbreak of industrial revolution was because of religious principles and doctrine of Calvinism. There have been lots of problems and transitions in family life because history portrays women as property of men and domestic violence as a private concern and these concepts are changing with time. These are the points of discussion and detailed information found in this chapter, ‘Family and Religion’ from the book, ‘Society, The Basics’ by Macionis that I appreciate and like the most.

Aviation insurance Essays

Aviation insurance Essays Aviation insurance Essay Aviation insurance Essay Words fall short to express my deep sense of gratitude towards them all, who have imparted their valuable time, energy and intellect towards the beautification of my project. I express my sincere gratitude to our principal our coordinator for their continuous support and encouragement. I extend my sincere gratitude to PROOF. PROHIBIT JITTERS my guide for guiding me throughout the project and for helping me whenever required. I also thank my collage library for also thank My God, My parents and My friends for their contribution towards the project. Objective of the project This project has been undertaken with following objectives in mind: To understand the Insurance Sector in India, its nature functioning. To understand the concept of Aviation Insurance. To comprehend the impacts of the new norms on the functioning of the Insurance sector in India. To understand how these norms are put to practice. This involves understanding of the coalition of input data, the process of data sorting, computing according to the norms, assessing different stress scenarios and the final output of such computations. It also involves close observation of the problems faced in implementation. To draw a parallel of this situation to the Insurance industry as whole. RESEARCH METHODOLOGY Research always starts with a question or a problem. Its purpose is to question through the application of the scientific method. It is a systematic and intensive study directed towards a more complete knowledge of the subject studied. There are two types of data collection method use in my project report. Primary data For my project, I decided on primary data collection method for observing Aviation Insurance Company. For this information I visited to the Reliance General Insurance. Asked the questions to sales manager about the aviation insurance. Secondary data I decided on Secondary data collection method was used by referring to various websites, books, magazines, Journals and daily newspapers for collecting information regarding project under study. Executive Summary Aviation Insurance was first introduced in the early years of the 20th Century. The first aviation insurance policy was written by Loads of London in 1911. The company at an air meet caused losses on many of those first policies. Insurance is one of the most popular in business today since they characterized the new economy acceptance of country boundaries. The purpose of these study the valuation process approaches in aviation by analyzing the insurance corporation case base upon the valuation this report will identify the why aviation insurance is needed. This report the Indian Insurance sector, History of insurance in India, History of Aviation Insurance, products features of Aviation Insurance, Effects Of 9/1 1 Attack On Aviation Insurance INDEX SIR. NO CHAPTER History Of Insurance 9_15 2. Origin Development Of Insurance 16-21 3. History Of Aviation Insurance 22-27 4. Products Of Aviation Insurance 28-37 5. Future of aviation insurance 38-49 6. Case Study 50-58 7. Conclusion Bibliography Aviation Insurance CHAPTER 1 HISTORY OF INSURANCE 1. 1 Introduction Humans have always sought security. This quest for security was an important motivating force in the earliest formations of families, tribes, and other groups. The groups have been the primary source of both emotional and physical security since the beginning of humankind. Humans today continue their quest o achieve security and reduce uncertainty. We still rely on groups for financial stability. With industrialization our physical and economic security has diminished. Mankind is exposed to many serious hazards, which cause stoppage of income. The biggest worry any human being has is the economic worry. He is always thinking of tomorrow and the days to come and he will be planning to meet the demands of his family, his business and that of his own needs. The economic worries may arise due to stoppage of income. Our income dependent, wealth- acquiring lifestyle renders us and our families more vulnerable to environmental and social changes over which we have no control. There may be accidents, sickness disability, or due to premature death of the readiness. It is impossible to prevent such calamities. But it is always possible to provide against the loss of income that may result out of such these perils. Risk is defined as uncertainty of financial loss. If the event were certain to happen, then there be no loss if the event were certain not to happen, then also there is no loss. It is the uncertainty about the time of loss that worries the mankind. Insurance in India The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries. 1. 2 An Overview of Insurance Industry Insurance has a long history in India. Life Insurance in its current form was introduced in 1818 when Oriental Life Insurance Company began its operations in Triton Insurance company set up its base in Kola. History of Insurance in India can be broadly bifurcated into three areas: a) Pre Nationalization b) Nationalization and c) Post Nationalization. Life Insurance was the first to nationalize in 1956. Life Insurance Corporation of India was formed by consolidating the operations of various insurance companies. General Insurance followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as the controlling body with New India, United India, National and Oriental as its subsidiaries. The process of opening up the insurance sector was initiated against the background of Economic Reform process which commenced from 1991. For this purpose Malory Committee was formed during this year who submitted their report in 1994 and Insurance Regulatory Development Act (ERDA) was passed in 1999. Resultantly Indian Insurance was opened for private impasses and Private Insurance Company effectively started operations from 2001. 1. 3 Global Standards While the world is eyeing India for growth and expansion, Indian companies are becoming increasingly world class. Take the case of LICK, which has set its sight on becoming a major global player following an Rests-core investment from the Indian government. The company now operates in Mauritius, Fiji, the I-J, Sir Lankan, and Nepal and will soon start operations in Saudi Arabia. It also plans to venture into the African and Asia-Pacific regions in 2006. The year 2005 was a testing phase for the mineral insurance industry with a series of catastrophes hitting the Indian sub- continent. However, with robust reinsurance programmers in place, insurers have successfully managed to tide over the crisis without any adverse impact on their balance sheets. With life insurance premiums being Just 2. 5% of GAP and general insurance premiums being 0. 65% of GAP, the opportunities in the Indian market place is immense. The next five years will be challenging but those that can build scale and market share will survive and prosper. 1. REGULATORY ACTS A number of acts govern the insurance sector The Insurance Act, 1938 The Insurance Act, 1938 was the first legislation governing all forms of insurance to provide strict state control over insurance business. General Insurance Business (Nationalization) Act, 1972 The General Insurance Business (Nationalization) Act 1972 was enacted to nationalize the 100 odd general insurance companies and subsequent ly merging them into four companies. All the companies were amalgamated into National Insurance, New India Assurance, Oriental Insurance, and United India Insurance. Insurance Regulatory and Development Authority Act, 1999 Till 1999, there were not any private insurance companies in Indian insurance sector. The Gobo. Of India then introduced the Insurance Regulatory and Development Authority Act in 1999, thereby De-regulating the insurance sector and allowing and capped at 26% holding in the Indian insurance companies. 1. 5 Regulations for Indian Insurers To protect the interests of holder of insurance policy and to regulate, promote and ensure orderly growth of the insurance industry Insurance Regulatory and Development Authority (ERDA) was established. Under the new dispensation Indian insurance companies in private sector were permitted to operate in India with he following conditions: Company is formed and registered under the Companies Act, 1956. The aggregate holdings of equity shares by a foreign company, either by itself or through its subsidiary companies or its nominees, do not exceed 26%, paid up equity capital of such Indian insurance company. The Companys sole purpose is to carry on life insurance business or general insurance business or reinsurance business. The minimum paid up equity capital for life or general insurance business is crossers. The minimum paid up equity capital for carrying on reinsurance business has been prescribed as crossers. . 6 Role Functions of ERDA: Section 14 of ERDA Act, 1999 lays down the duties, powers and functions of ERDA. Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business. Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include. Issue to the applicant a certificate of registration, renews, modify, withdraw, suspend or cancel such registration. Protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance. Specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents. Specifying the code of conduct for surveyors and loss assessors. Promoting efficiency in the conduct of insurance business. Promoting and regulating professional organizations connected with the insurance and re-insurance business. Levying fees and other charges for carrying out the purposes of this Act. 1. 7 Functions of Insurance The function of insurance is to safeguard against such misfortunes by having contributions of the many pay for the losses of the unfortunate few. This is the essence of insurance- the sharing of losses and, in the process, the substitution of certain, small loss called the premium for an uncertain, large loss. From an economic perspective, insurance is a financial intermediation function by which individuals exposed to a specified contingency each contribute to a pool from which overfed events suffered by participating individuals are paid. Insurance then is a is an agreement, the insurance policy or insurance contract, by which one party, the policy owner, pays a stipulated consideration called the premium to the other party called the insurer, in return for which the insurer agrees to pay a defined amount of provide a defined service if a covered event occurs during the policy term. The person whose life, health or property is the object of the insurance policy is referred to as the insured. Insurance provides certainty of payment of sum assured at the happening of the event. Since no one can predict the happening of the event in advance, it is not possible to compensate against the loss There is an uncertainty about the time of the event happening. We will not be also sure about the quantum of loss. Provides Assistance to Business Large capital investments on buildings and machinery can be protected against loss by Insurance. The cost of Insurance will be very small compared to the total loss. Provides financial stability to commerce and industry When material damage takes place due to peril, there will be stoppage in production resulting in reduction in profit. Loss of profit Insurance can take care of the loss in net profits in addition to loss of machinery. Insurance serves as a basis of credit Industry and commerce approach banks and financial institutions for financial assistance to develop their business. A collateral security may be necessary to secure against the finance advanced. Insurance policies can provide against such advances. Insurance plays a role in reduction of losses. Insurance companies render advice as to how losses can be minimized by using various safety measures because of their experience. Insurance provides fund for investment The Insurer will have huge funds collected from Insured by way of premiums. These funds are not kept idle, but invested in nation building activities. Insurance earns foreign exchange Indian Insurance companies have branches in different countries, where large volume of business is transacted. This will fetch huge amount in foreign currency. 1. Nature of Insurance Sharing Of Risk Insurance is a social devise to share the financial loss, which may befall individuals due to many events. Whereas it is not possible to share deaths, accidents or sickness, it is always possible to share the economic losses, which come out of Hess events. All persons who are exposed to similar risks come together and share the loss. Co-operat ive Endeavourer In every type of Insurance, large number of persons are brought together to share the loss. They have a common goal biz. , to plan the economic future. Such people come together voluntarily or through publicity or through soliciting. It is the Insurer who compensates the loss of few from the contributions received from many. Value of risk The risk or financial loss is measured in terms of money before insuring. This is done by means of past experience of the Insurer. This will enable him to collect the cost of Insurance in adequate measure. Payment at contingency insured. It may be premature death or end of the term in Life Insurance. In non-life, it may be the happening of the event. Amount of payment In Life Insurance the amount is fixed at the beginning of the contract and full amount is paid at death or end of term. But in other types of Insurance the amount of loss only is paid. CHAPTER 2 Origin and Development of Insurance 2. 1 Introduction Insurance in the modern form originated in the Mediterranean during 14th century. The earliest references to insurance have been found in Babylonian, he Greeks and the Romans. The use of insurance appeared in the account of North Italian merchant banks who then dominated the international trade in Europe at that time. Marine insurance is the oldest form of insurance followed by life insurance and fire insurance. The patterns that have been used in England followed in other countries also in these kinds of insurance. The origin and growth of Marine Insurance, life Insurance, Fire Insurance and miscellaneous insurance are given below: 1. Marine Insurance The oldest and the earliest records of marine policy relates to a Mediterranean voyage in 1347. In the year 1400, a book written by a merchant of Florence, indicates premium rates charged for the shipments by sea from London to Pisa. Marine Insurance spread from Italy to trading routes in other countries of Europe. Marine Insurance in India There is evidence that marine insurance was practiced in India some three thousand years ago. In earlier days travelers by sea and land were exposed to risk of losing their vessels and merchandise because of piracy on the open seas. Moreland has maintained that the practice of insurance was quite common during the rule of Kafka to Rearrange, but the nature and coverage f insurance in this period is not well known. It was the British, insurers who introduced general insurance in India, in its modern form. The Bruisers opened general insurance in India around the year 1700. The first company, known as the Sun Insurance Office Ltd. Was set up in Calcutta in the year 1710. This followed by several insurance companies of different parts of the world, in the field of marine insurance. In 1972, the government of India nationalized the general insurance business by forming GIG. 2. Life Insurance The early developments of life insurance were closely linked with that of urine insurance. The first insurers of life were the marine insurance underwriters who started issuing life insurance policies on the life of master and crew of the ship, and the merchants. The early insurance contracts took the nature of policies for a short period only. The underwriters issued annuities and pension for a fixed period or for life to provide relief to widows on the death of life of William Gibbons for a period of 12 months. Life Insurance in India The British companies started life insurance business in India, by issuing policies exclusively on the lives of European soldiers and civilians. They sometimes issued policies on the lives of Indians by charging extra. Different insurance companies like Bombay Insurance Company LTD. 1793) and Oriental Life Assurance Company (1818) was formed to issue life assurance policies in India. Gradually, the first Indian Company named as Bombay Mutual Life Insurance Society Ltd. Was formed in DCE. 1870. By 1971, the total numbers of companies working in India were 15, out of which 7 were Indian and the remaining were British companies. After several changes have been made for the period from 1930 to 1938, the Government of India passed Insurance Act, 1938. The act still applies to all kinds of insurance business by instituting necessary amendments from time to time. . Fire Insurance Fire insurance has its origin in Germany where it was introduced in municipalities for providing compensation to owners of the property, in return for an annual contribution, based on the rent of those premises. The fire insurance in its present form started after the most disastrous fire in human history known as the Great Fire in London, which had destroyed several buildings. It drew the attention of the public and the first fire insurance commercially transacted in 1667. The Industrial Revolution (1720-1850) gave much impetus to fire insurance. The Nineteenth century marked the development of fire insurance. Fire Insurance in India In India, fire insurance was started during the British regime. The oldest of these companies include the Sun Insurance Office, Calcutta (1710), London Assurance and Royal Exchange Assurance (1720), Phoenix Assurance Company (1782), etc. 4. Miscellaneous Insurance Due to the increasing demands of the time, different forms of insurance have been developed. Industrial Revolution of 19th century had facilitated the placement of accidental insurance, theft and didactic, fidelity insurance, etc. In 20th century, many types of social insurance started operating, biz. , unemployment insurance, crop insurance, cattle insurance, etc. This way the business of insurance developed simultaneously with human and social development. Today, the use of computers in the field of insurance is frequently increasing. Insurance becomes an inseparable part of human development. Miscellaneous insurance are of many types like: Health Insurance All-risks Insurance Consequential Loss Insurance General Public Liability Insurance Burglary Insurance Golf Insurance Money Insurance Fidelity Guarantee Insurance Workmen Compensation Insurance Aviation Insurance which is again a type of miscellaneous insurance, concentrating on each and every aspect of aviation insurance and how it has affected the service sector in recent times. Aviation is the most expensive industry means of transport today. This sector gained importance and created awareness after the 9/1 1 attack on the twin towers of America. After this attack lot of changes took place in the aviation sector and also lot of amendments were made by the law to regulate the aviation insurance contracts. So let us see what these changes are and how aviation insurance forms one of the important part of any countrys insurance sector. 2. 2 Effects of 9/1 1 Attack on Aviation Insurance Following the September 1 1 the attack in the United States, the subject of aviation insurance attracted much attention in the media and elsewhere after aviation insurers worldwide withdrew cover for the specific acts of war and terrorism. As a result, many national governments stepped in to provide temporary insurance cover to ensure that airlines continued flying. Short to medium term solutions At the request of the airline industry the International Civil Aviation Organization established a special group on war risk insurance (SWIG) which, as a short and medium term measure recommended the setting up of an international mechanism funded by insurance premiums to provide no concealable third-party aviation war risk coverage through a non-profit special purpose insurance entity (GLOBAL TIME) with multilateral government backing for the initial years. As a long-term solution the SWIG recommended that an international convention be developed which would limit the third-party liability of he aviation industry for losses arising from war, hijacking and allied perils. Uncertainty ahead? Some four years on from 9/11, most governments have withdrawn guarantees for hull and over to airlines and airport service providers. Notable exceptions include the United States, China and Singapore. The market has now responded with certain insurers offering major airlines limited no concealable third party coverage. Enthusiasm for GLOBAL TIME has waned and a new convention on damage caused to third parties on the ground has yet to be agreed. In Asia at least, the airline industry has experienced a dramatic turnaround in retunes with renewed prosperity. However, as with other classes of catastrophe business, there remain underlying uncertainties in the aviation insurance market that could dramatically change the environment. Convention and statutory limits The Montreal Convention 1999, which governs the liability of airlines in relation to passengers and cargo interests, requires airlines to obtain adequate insurance to cover their liabilities under the Convention. In addition, airlines are required by many states to have minimum insurance limits to cover such liabilities including third party surface damage. After the September 1 1, 2001,