Coffee Shop Essay

Why should I be nice to you?. Coffee shops and the politics of good service is the article of Emily Raine shows the issues of the working environment like coffee shop. Raine’s worked in good and bad conditions in many place for many years. She finds the ways that make her feel better and less stress at work. Raine’s deal with difficult kind of people like the manager, â€Å"the displayed that unique of pleasant customers†. She was not happy because the â€Å"pay†, and the â€Å"long† hours that she has to work. She learned that good service doesn’t mean much of anything. The most important thing that I knew that every single customer service all know is, always be nice to the customers. I understand that the customer’s experience should always be the best it can possibly be, that you should always strive to make their experience better. No matter what they said to you, what they treat you, how rude and disrespectful they were and what they want from you. That is the most difficult thing to do, because you never know if they in the bad mood or good mood. If customers received a bad service because you in bad mood then it is very possible that could cause you in trouble or decrease the chance of those customer coming back to your restaurant. Why Should I Be Nice To You? : Coffee Shops and the Politics of Good Service is the article about Emily Raine’s opinions about the coffee shop. She used many examples to get reader attention and understand for her how difficult when working in the coffee shop. There are different between work in the â€Å"service jobs† â€Å"find dining to cocktail waitressing to hip euro-bistro counter work† and the coffee shop. She thought she got pay too little for the long hours, the boring at work and the tricky person like the â€Å"manager†. She talks about the Starbuck coffee shop, â€Å"where cheerful young workers are displayed behind elevated counters†. Starbuck has branded a new kind of worker, â€Å"the happy wholesome, perfume-free barista†. She also compared the working environment of Starbuck and other companies finally she understood that there is no easy way to serve without being a â€Å"servant† and she always found that the best way to serve is to show actual emotion rather than affecting a smooth display of interminable patience of good will† also personality with a customer it very important of being good sever. I agree and also disagree with her opinion. I think that she already knew how much she got paid before the first day of work so why did she choose to work for that jobs. I understand that before the first day of work the manager explain for you everything that you need and how long that you have to work for each day. She shouldn’t complain about the pay and how long that she has to work because she already knew all of that. She said that â€Å"The managers demanding†, of course when you work under someone else, you have to follow every single demand of someone above you. You have to understand for them, because there is someone else above demand them to do that. She feel that working in the coffee shop the time to interact with customer not too long â€Å"Unlike table service, where interaction with customers spans a minimum of half an hour, the average contact with a cafe customer lasts less than ten seconds†( Raine 213). Every job has a different time to communicate with your customer in restaurants. For example the time to communicate with the server and waitress in the restaurant is longer time than serving in the coffee shop. Customers in the fast food restaurant and the coffee shop get order the food, the drink, and carry the food out to the table. When you serve in the restaurant, you need to stop by couple of time to ask if the customer need something else. In the coffee shop, the customer service stand behind the counter and get what the customers need. In the coffee shop not many people will stand up or ask you for something else, because the counter around the coffee shop is full of everything they need, sugar, milk, straw and napkin, the place where they can serve by themselves. But in the restaurant, they will ask you for a little thing such as napkin, refill the drink, or order something else for their table, because restaurants are fancier places than fast food restaurants or coffee shops. I believe that the way fast food restaurant run is get people in line, order what they want by take a little â€Å"trip† inside the restaurant. The purpose is get customer feel like they are not wasting time to get their food. â€Å"This means that in a given visit a customer might order from one worker, receive food from the next, then brewed coffee or tea from yet another, then pay a cashier before proceeding down the line of the counter. Every employee has a different job and in some way you need more than three or four people to service you, and you don’t want to wait any longer to receive the food. She also complains â€Å"Our notions of good service revolve around a series of platitudes about professionalism; we’re at your service, with a smile where the customer’s always right†(Raine 214). Of course you need to smile at customers to show your happy personality so it make customer feel more comfortable when eating in your restaurant no matter where you work, not only in the coffee shop. The customer always right, I don’t thinks many place that have this rule, because sometime customers need more than what you can give. They need something over your work, that means you don’t have to follow their demand. She also said that the server at the Starbucks â€Å"where cheerful young workers are displayed behind elevated counters as they banter back and forth, calling out fancy Italian drink names and creating theatre out of their productive labor†(Raine 215). All of this also depend on you, depend on your partners. You want to make your work become happy and cheerful, you can do that. The boss wants their employees feel comfortable at their work. Raine’s said Starbuck coffee has good benefits for their employees such as, health insurance, dental plans and other perks such as product discount and give away† (Raine 216). I don’t understand what she talk about those unusual benefit. What is an unusual benefit for service?. I know that a lot companies offer good insurance for their employees. What is the difference between Starbucks benefits and other companies’ benefits? She needs to explain little bit more about the unusual benefits of Starbucks offer for their employees. The text was written in a way that was easily understandable, and also itwas very easy to relate to. Most people have had an encounter with some type of customer service work, whether they were actually working, or they were being served. I agree and also disagree with her opinion. Because there are a lot of different kinds of people that you have to service and you’re a worker you have to deal with your boss and follow their demand. After I read this article I also understand how difficult and hard time for service work behind the counter. I understand how difficult it was for her and other worker to deal managers. I suggest for Raine’s that changing the jobs until you find a better job is a good way to improve your work skills and have less stress at work and also my suggestion for the manager is as a manager you has to understand how hard your employees have to work. Try to put more people on the schedule and more than one people on one station that more easy for employees to do their work. The more comfortable employees have the more success they could bring to your restaurant or the coffee shop.

Comparison of Booker T. Washington’s “Up from Slavery” and Web Dubois’ “The Souls of Black Folk”

Literary Devices in Rhetorical Writing During a time period when slavery had finally come to an end, African Americans still struggled as their opportunities for equality were next to nonexistent. In this time of hardship and unfair treatment, not many of those facing these adversities had the courage to speak out on their beliefs for change; Booker T. Washington and WEB Dubois, however, did not possess such fears — both thoroughly articulated their opinions and stood for what they believed was right.Booker T. Washington and WEB Dubois shared a few commonalities — both men were highly educated, for example, as well as they both expressed strong opposition against segregation. Washington’s Up from Slavery: An Autobiography and Dubois’ The Souls of Black Folk outline each of these powerful historical figures’ views on segregation and what can be done to end it. Both of these works are excellent examples of rhetorical writing, possessing strong persuas ive arguments.A deeper examination of these texts can be done by a comparison of chapter fourteen of Washington’s work, entitled â€Å"The Atlanta Exposition Address,† and chapter three of Dubois’ The Souls of Black Folk – â€Å"Of Mr. Booker T. Washington and Others. † Each of the texts contains persuasive arguments; however, each writer’s separate use of rhetorical strategies alludes to an effective expression of the intended theme. Booker T. Washington’s use of diction throughout â€Å"The Atlanta Exposition Address† reflected his level of education in a way that made him stand out in the African American community.His use of advanced rhetoric in comparison to the majority of the African American population made it easier for him to be noticed and heard. Judging by the text, it is apparent that all three modes of persuasion are present. By mentioning his reform-related accomplishments, Washington often appeals to logos in or der to establish his credibility and prominence as a leader; this appeal enhances his use of ethos, which reflects his desire to advance the African American race as a working class.Washington features an anecdote within the text, which acts as a metaphoric plea for African Americans to realize the opportunities manual labor could potentially hold for them. The phrase â€Å"cast down your buckets where you are† is especially significant in his attempt to glorify common labor, referring to the abundance of resources present in this world (Washington 2).In sections five through seven, Washington repeatedly uses this phrase in the beginning of consecutive sentences, exemplifying anaphora; this literary device reiterates the significance of his words, strengthening his argument as to why freed slaves would benefit from common labor. Another literary device employed in â€Å"The Atlanta Exposition Address† is metonymy, which can be found in the phrase â€Å"separate as the fingers, yet one as the hand in all things essential to mutual progress,† as well as in â€Å"the organs of religious bodies, joined in the general chorus of condemnation or demands for retraction† (Washington 2,5).This representative â€Å"part-of-a-whole† strategy directly links the subject to the writer’s key points, thus creating a deeper connection and increasing their impact on the audience. A prominent literary device in â€Å"Of Mr. Booker T. Washington and Others† is its structure. Dubois organizes the text in a way that maximizes the effectiveness of his message, which was to point out the flaws in Washington’s propositions. He begins by explaining Booker T. Washington’s success, after which he provides background information on African American progress in the 1800s and leads to his own criticism of Washington.By using words such as â€Å"mistakes,† â€Å"shortcomings,† â€Å"bitterness,† and similar ex pressions — â€Å"disappointment of displaced demagogues† and â€Å"spite of narrow minds† –- Dubois creates a negative tone, which mainly reflects his attitude toward Washington himself (Dubois 2). Dubois also employs the use of lists throughout the entire chapter, which are highly effective in convincing the reader to side with the writer. For example, in the text Dubois discusses the African Americans who have higher aspirations than those of Washington, but do not vocalize them; some of these unfulfilled wants are: â€Å"1. the right to vote. / 2. civic equality. [and] 3. the education of youth according to ability (Dubois 5). By repeatedly featuring such lists throughout â€Å"Of Mr. Booker T. Washington and Others† Dubois makes a compelling argument that there is much more to strive for than what has already been accomplished by Washington. Literary devices not only make the writer stand out as an individual, but also contribute immensely to the overall message of the text. In Booker T. Washington’s â€Å"The Atlanta Exposition Address,† his use of diction, modes of persuasion, anaphora, and metonymy are what help him establish a sense of authority and respect among his readers.WEB Dubois’ â€Å"Of Mr. Booker T. Washington and Others,† on the other hand, features a more complex structure and tone, setting apart his key points and allowing the reader to have a clearer understanding of his position in the argument against Washington. Washington wanted general occupations for African Americans, while Dubois was more concerned with equality; both of these great leaders were interested in the betterment of African Americans’ lives, and their excellent use of literary devices are what helped their writings become memorable pieces of American history.

Adaptive Or Active Suspension System Engineering Essay

Adaptive Or Active Suspension System Engineering Essay What is the use of a suspension system. Its main task is to provide a safe and stable ride for the vehicle. The components are usually passive force elements as they provide a nice trade-off between wear, stability and comfort. Suspension system dampens the shocks and does not allow the jerks to be transmitted to the human body. By selecting the right spring and damper properties, the suspension functions as a barrier to the jerks and only passes those frequencies which come in comfortable range for humans. But at the same time the wheel load variation must be minimum as we need contact of tire with road at all times. A system of links connects the un-sprung mass (wheel, brake, steering hub) to the sprung mass (car body). However there is a trade off at the cornering, as the spring should be stiff enough to avoid over roll of the body. Sometimes an anti-roll bar is used to overcome the exaggerated roll due to damping in corners. However the stiffness of the roll bar is not independe nt as we cannot transmit vibrations of one wheel to the other. The traditional suspension will tilt the tire while cornering. This is because the linkage rotates and the tire connected to it also rotates. This causes the area of contact of the tire to reduce while cornering or turning. This results in the loss of grip and massive body roll of the vehicle. In case of cornering the requirement usually is to get a so-called counter camber. The negative camber angle will cause a favorable deformation of the contact patch, which in combination with the unfavorable deformation due to the cornering forces will lead to a desirable contact patch between the tire and the road. Examples of today’s suspension systems which provide a negative camber are the double wish-bone and the McPherson suspension system. Non-zero static camber can also improve the cornering and bump control of the vehicle. Active Suspension system An active suspension system can prevent suspension travel under a var ying load, theoretically without consuming energy. That is why it is very suitable for leveling car during accelerating, braking and cornering, or for taking care of static load variations. And as these systems are computer-aided, there mathematical models can be fed to a controller to level the car or to improve the comfort level. Design and Working While cornering the average force per suspension strut varies from the static value and its length remains equal as to eliminate body roll. By using the principle of a lever, the varying load can be counter-balanced by a constant force by varying distance from the fulcrum. This system perfectly eliminates body roll and the system would not rotate. Because all relevant forces are perpendicular to the direction of adjustment of the fulcrum and constant force, the adjustment will not cost any energy. A possible application of this principle is shown below: The pre-tensioned secondary spring (inner one) is maximally assisting the primary sp ring (outer one). Initially, the adjustable arms are positioned at an angle of 90Â ° with respect to the position in figure above in order to not produce any torque around the fulcrum. Fulcrum here is the hollow hole on the right side which will get attached to the chassis of the vehicle. This type of system is called a trailing arm suspension system.

Cooperative Strategy Case Study Example | Topics and Well Written Essays - 250 words

Cooperative Strategy - Case Study Example This is so especially when the industry wants to accrue most benefits from the collaboration. For the case of Apple inc. the joint ventures are the most appropriate. For instance through joint alliances with their companies such as HP, the company would benefit from designing software that will create network links with the two companies (Hitt, Ireland & Hoskisson 263). This combination will create a more competitive Apple as opposed to it working alone. The same applies for HP that would benefit for multiple partnerships from other companies such as IBM (Hitt, Ireland & Hoskisson 270). This will help HP create value for its products and still come up with a means of sharing resources and become more innovative in its creations. Hitt, Ireland & Hoskisson also say that through these alliances, firms gain access to their partners; thus, an increase in the chances of competitive advantage in the market

Developing Leadership Capacities Essay Example | Topics and Well Written Essays - 1250 words

Developing Leadership Capacities - Essay Example an seeing the leader as a co-equal of followers Transformational Theory Gives emphasis on the role of leadership in initiating and implementing change Attaches too much importance to the leader as a catalyst of change rather than to all the stakeholders as creators and performers of change Applying Theory U to Cross-Functional Team Leadership One theory of leadership which can help leaders positively transform cross-functional teams is theory U. The first step, going down the U’s left part, is referred to as ‘sensing’ or building up a perceived image of the organization’s present reality that should be understood and transformed (Scharmer, 2009). In a cross-functional team, it is important to develop highly committed members. ... The important questions to answer are: (1) what the team desires to create, (2) why it is important, (3) how to accomplish this, (4) who is responsible, and (5) when and where to perform this. By employing ‘sensing’, the leader of a cross-functional team is able to achieve its goal of improving service to key customers by (Kahane, 2010): (1) discovering shared ideas and perspective by sharing the story and situation that brought highly diverse people together in one team; (2) motivating and being an inspiration to the team; (3) training in deep-dive (‘do what you love, love what you do’ principle) processes and discussion interviews; (4) recognizing key stakeholders that have to be visited and known. Apparently, when relating to the team and the environment, a leader should set in motion and bring in the ‘four channels of listening’: â€Å"(1) listening from what you know, (2) from what surprises you, (3) from empathizing with the interviewee, and (4) listening from her or his authentic source or highest future possibility† (Anonymous, 2012, p. 10). Through ‘sensing’, a leader will be able to uncover the highest potential of every member of the cross-functional team with an open heart and mind. The second step is ‘presencing’, or a more profound understanding of one’s duty and function in the organization; after profoundly engrossing oneself in the perspectives and situations that are appropriate to a setting and its greatest future prospect, ‘presencing’ concentrates on tapping on a more profound source of understanding (Scharmer, 2009). In order for a leader of a cross-functional team to carry out the ‘presencing’ step successfully s/he should form circles where in s/he commits one

Innovations in Human Resource Management Assignment

Innovations in Human Resource Management - Assignment Example It is evidently clear from the discussion that distrust of customers leads to decreased profits and market segments. This will lead to losing customers to competing companies who use this information to lure customers and win their trust. Data misuse by third parties has led many users of Facebook have encroached self-determination that limits them from having prosperous careers. Mary Jane has the experience and knowledge to take up the position of Field Sales Manager. However, her negligence and ignorance concerning the use of social networks have tarnished her name and image. Field Sales Manager interacts with so many people and her image should portray all the values of the company. Some of the clients she is going to reach out to use Facebook and will eventually leak out information to prospective clients concerning the pictures. This will give the company a poor image and therefore, the HR administration should reconsider their decision of hiring Mary. Her negligence and ignoran ce portray that she will do the same for the clients she mingles with when hired by the company to carry out the responsibilities of Field Sales Manager. This position is prestigious and needs to be given to an individual with an all-around personality encompassing outstanding social behaviors. Through social media, employers can check on their employees for harassing postings on Facebook, but cannot use data achieved to discriminate against their employees due to religion, race or sexual orientation. A candidate’s legal right to privacy is breached when employers hack into their protected accounts. Encrypted Facebook accounts, with passwords, should not be tampered with by employers.

Exam question Essay Example | Topics and Well Written Essays - 3750 words

Exam question - Essay Example Restorative justice is less punitive than the traditional justice system which requires the offender to suffer some kind of fine or incarceration. Restorative justice focuses on the needs of the victim and the wider community. Instead of being punished alone, restorative justice focuses on getting the offender to take responsibility for his actions. In doing this, the victim might have to admit his guilt and take actions to either apologise to the victim or reinstate the victim in lieu of all the losses suffered. In other cases, the offender undergoes community service. The motive of restorative justice is to focus on the personal needs of the victim. Stated differently, the approach of sending offenders to jail and getting them to pay fines to the state does not seem to provide direct satisfaction to the victims. This is because it seems impersonal and the victim does not get any kind of restitution or reparation. However, in the case of restorative justice, the victim gets the oppo rtunity to be given what s/he lost in an offence. If it is not possible to give back, the offender might render an apology and promise not to do so again. This fosters communal relations and promotes reformation (b) What are the aims of Restorative Justice? The Crown Prosecution Service outlines three main aims of restorative justice. The first aim is to promote victim satisfaction. In other words, there is evidence that the traditional approach of criminalising offences and imprisoning offenders does not seem to satisfy victims. Rather, it only keep the offenders away and there is no contact between them and victims. Restorative justice provides a system of reducing fear and tensions between the victim and the perpetrator. Also, in a sense, the apology of the victim and compensation [which is not a feature of traditional courts] can satisfy a victim emotionally. In another sense, the compensation or restitution paid by a victim can prove to be helpful in assisting victims to get ba ck to their former position. The second aim of restorative justice is to foster some form of engagement between the victim and perpetrator. The idea is to provide an important platform through which the victim can tell the perpetrator what he things. Also, the perpetrator can accept his guilt, and apologise for his part in the situation. The victim becomes aware of his actions and the consequences. Through, this he voluntarily accepts the obligation to do something for the victim and community in order to make amends. This makes the whole process of punishment more personal and constructive. The third aim of restorative justice is that it creates community capital. In other words, it enables the community to get a win-win criminal justice system in which people are punished adequately and proportionately. Also, offenders are made aware of the scope of their actions and this prevents them from reoffending. In this sense, the community builds some degree of confidence in the justice s ystem and makes them fell more secured and protected by the law. 2. (a) What are the advantages and disadvantages of Restorative Justice (taking account of the variety of ‘stakeholders’ who are, or might be, affected by it)? There are some advantages of restorative justice. First of all, restorative justice improves the outcome of court's decision because the victims get the chance to

Introduction and Letter of Transmittal on Taco Bell Case Study Essay

Introduction and Letter of Transmittal on Taco Bell Case Study - Essay Example om their governmental agencies arguing that their grocery store might have been selling the brand containing a corn ingredient which is harmful to the public (Hall and Viola, 2003). The report targeted Taco shells, which the brand name of the Taco Bell and distrusted by the Kraft Food industry, the media as well as other consumer’s reactions proved the damage of the Taco Bell reputation. This made the Taco Corporation to face the crisis of destroying brand reputation due to selling of tinted food known as Cry9c, which is harmful to human consumption. The public hold the perception that the company was selling the same product in their restaurant. However, Taco Bell has nothing to do with the manufacturing of the genetically modified corn but it is licensed under the company’s brand name known s Taco shells. Although Kraft already recalls that the food was announced to be having side effects to the consumers, they still distribute and sell it using Taco’s brand na me. Therefore, Taco bell should take action through communicating effectively about the crisis management. They should communicate in order for the corporate to maintain food safety standards and regulations in the restaurants; thus maintaining brand reputation. In compliance with the Kraft Food Industry, the company should make effective communication in order to come up with the conclusion of payment owing that the Taco Bell is undergoing a severe threat of the brand reputation. This is because the company would be interfered especially on revenues that may decrease. This is due to brand reputation; thus, the agreement should be made on transfer of funds. The main purpose of the letter is to inform Taco Bell Company to communicate effectively with Kraft Food Industry and solve the problem the company is facing. Taco Bell Company should also formulate and make the follow-ups of a comprehensive and effective action plan in order to address the issue of food safety. This is essential because it will

JP Morgans Financial Risk Management Essay Example | Topics and Well Written Essays - 250 words

JP Morgans Financial Risk Management - Essay Example ures established by the bank to control the credit derivatives trading carried out by the chief investment office were insufficient to shield the bank from the external material risks that arose from the trading strategies and positions adopted by the CIO; The risk management model adopted by the bank lacked adequate processes and procedures to monitor, measure understand, and control the risk arising from the credit derivatives trading activities of the chief investment office; and The valuation procedures used by the chief investment office lacked adequate and effective assessment as the credit derivatives trading strategy adopted by the CIO increased the CIO’s risk based on the Value at Risk model adopted by the bank. This resulted in the CIO adopting a new Value at Risk model, which increased its risk but continued to use the risk limits used in the earlier ‘VaR’ model (Belshaw, 2013). Belshaw, G. 2013. Department of the Treasury: Office of the Comptroller of the Currency. Consent Order. Consent Order. Accessed February 11, 2014

Taoism, The Principle of Wu-Wei Research Paper Example | Topics and Well Written Essays - 2000 words

Taoism, The Principle of Wu-Wei - Research Paper Example This paper will shed more light upon Taoism and the principles of Wu-Wei. Confucianism is a term which is very closely related to Taoism, a lot of can be learned about the Chinese people just by knowing more about Taoism and Confucianism. These are terms which reflect the spirit of the Chinese people and what they are made up of. The ancient Chinese society must be given credit for coining the term Taoism, the ideology and the beliefs of the Han nationality is often portrayed when people talk of Taoism. Ancient people in China used to worship spirits and gods and this was how this term originated. â€Å"Daoism encompasses thought and practice that sometimes are viewed as philosophical, as religious, or as a combination of both.   While modern scholars, especially those in the West, have been preoccupied with classifying Daoist material as either â€Å"philosophical† or religious, historically Daoists themselves have been uninterested in such categories and dichotomies.  Ã ¢â‚¬Å"(IEP.UTM) Taoism has raised a debate for the scholars across Europe; they have been completely discombobulated as to whether Taoism falls under religion or whether it falls under philosophy. Some scholars in Europe say that it should be classified under religion while some others say that it should be classified under philosophy so there is no general consensus when it comes to the classification of Taoism and much debate is going on amongst top scholars in Europe. It is very important to know more about the Han dynasty in order to know more about Taoism, no traces of Taoism were found when the Han dynasty ruled China but the beginning of Taoism can be found in important texts like Daodejing and the Zhuangzi. The Chinese people unanimously believe that a teacher by the name Laozi was mainly responsible for writing Daodejing, he was a very dedicated teacher who also opened a school for the Chinese children and single-handedly wrote Daodejing, it was a great achievement but not too many people know of this incredible achievement. People who followed Taoism were called Taoists and they had some similar beliefs, they understood the connection between nature and their bodies and this again was a great achievement. They also knew that God had not made them immortal and they trotted on the difficult path to become immortal. Taoists also believed in experimenting with their bodies, they found new exercises to keep themselves fit; they were also responsible for discovering interesting and new sexual positions. Chemistry was one subject which fascinated the Taoists and quite a few of them tried new experiments to discover something new which would help them but these experiments did not go down too well and many of them lost their lives trying to do too much. There were emperors who were also fascinated with Chemistry and they met with the same fate when they tried doing the same experiments, this clearly goes to show that there were hungry for success and wanted to find new things which would help their fellow human beings. Self-cultivation was a major objective of Taoism, every Taoist wanted to inculcate this quality in him and pass it on to their family members. â€Å"The teachings that were later called Daoism were first known under the name of Huanglao Dao in the 3rd and 2nd cent. BCE. The thought world transmitted in this stream is what Sima Tan meant by Daojia. The Huanglao School was a center of Taoist practitioners in the state of Qi (modern Shandong). Huangdi was the name for the Yellow

The economic crisis and Hospitality Industry in EU Essay Example for Free

The economic crisis and Hospitality Industry in EU Essay The report prepared on the Economic crisis and the hospitality industry in Europe, is an attempt to have an insight on the major reasons responsible for the economic crisis in the European Hospitality sector. It also takes the attentions towards the effective and strong measures taken by the Nation at the EU level and the national level to survive during the bad economy time. It was identified that the option of reducing their operating costs was one of major strategies followed by the enterprises in the tourism sector of Europe, along with this the economic crisis gave a strong reason for the small enterprises to review their business methodologies so as to be able to manage their business during the crisis period and also to increase the ratio of their profitability in the future times to come. The European Hospitality sector has survived in the year 2009 and it is pacing towards the recovery path in the current year. Studies reveal that the European hospitality industry will be able to stabilise itself by year 2011 and it is sure that Europe will definitely be able to bring back its economy as they all stand united at times of need. Commission President Jose Manuel Barroso said â€Å"Yes, Europe has the unity, the confidence and determination to win this battle†. Introduction Global economy crisis has left no sector untouched but it can be argued and debated over that the most adversely affected sector in Europe is the entertainment and tourism sector. In other words, we can straight away state that Europe’s Hospitality industry is the most badly hit sector in the economic crisis. The prime reason related with this is that the leisure and tourism get immediately and easily affected with the economic fluctuations going on in any country or location. Almost all the travel activities require an optimal amount of expenditure to be made by an individual for the fun, entertainment and relaxation of his family or friends and people are comfortable spending money for fun only at the favourable economic times. At the time of recession or the economic crisis, they would rather prefer to save their money for the unforeseen hard times that they might have to face in their future time to come. Thus they might consider saving their extra money for their basic necessities like shelter, food and other family requirements. Although, this does not mean that people stop travelling completely but their frequency of travelling might get a bit down because of the economic fluctuation and the tourists and travellers might adapt the idea of spending bit less on travel than their planned expenditure. Experts state that the tourism and hospitality business that can adapt to the situation that they can provide the best quality of services and customer satisfaction on a tighter budget too can only survive at the time of economic crisis. There is a possibility that the customers/travellers do not expect luxurious kind of services but would be interested if they get the low cost services and this fundamental fits perfectly to the airline and the hospitality industry of Europe, too. Trevor J Ward, Managing Director, W Hospitality Group, told that there has been a loss of confidence in the whole banking system in Europe, which has reduced lending to businesses and individuals, and this reduction in credit is affecting businesses and consumers alike. The fall in the house prices has affected the other business activities and consumer spending too and it has in a way affected the European hotel industry. HOTREC (Confederation of the National Hotel and Restaurant Associations in the EC) HOTREC is the name for the trade association of hotels, restaurants and cafes in Europe. They have combined together 40 national hospitality associations in around 24 countries across Europe. European hospitality industry comprises of almost 9. 5 million workers having network of Around 1. 7 million enterprises. HOTREC works towards the objective to promote the hospitality industry in Europe. Their motive of execution is to create more number of jobs for the European people and thus boost the economy of Europe by enabling the hotels, restaurants and cafes to create more job opportunities. HOTREC works extensively towards achieving a competitive and stable tourism industry in Europe. All the policies are made and implemented by HOTREC with the vision to encourage the creation of environment positive for the development of the hospitality sector. The Economic crisis and the hospitality industry The economic crisis has left no sector untouched and so the European hospitality industry is no less affected with this economic crisis. There are various zones or segments of the tourism industry that has got badly hit with this crisis. It has directly affected the business travels which were quite frequent in Europe and was a key contributor in the profit earning of the European hotels and cafes but with this crisis the industry has seen tremendous fall down in the business travel of the people coming to Europe. Not only the business travels, but the business events like the conferences, the presentations and the seminars which were quite in trend in Europe also got severely affected with the economic crisis and this again has brought the profitability graph of the European Hotels and cafes. It is true that the although the industry has experienced a slowdown in the business travels and the business events, people are still trying to figure out the best deals in the lowest possible rates that fit to their budget and serve their purpose too as they are able to let their business function smoothly irrespective of this economic crisis. They also try to find out the hotels which can provide them with the basic services without asking them to pay a hefty amount for their stay in the hotel. In a survey conducted by DLA PIPER 2009, the respondents were asked the major reasons for their lack of confidence in the Europeans hospitality industry during this economic crisis and the survey consisted of a couple of questionnaires like the Struggling European economy, Lack of liquidity, Current operating performance of hotels, Time and cost restraints on consumer travel, Reduced business travel, Lack of confidence in Europe’s political leaders, Struggling US economy etc. Around 43% of the people considered lack of liquidity and almost 33% considered the struggling European economy to be the major contributors to the rapid downfall in the confidence level. A study stated that out of many other reasons required to cope up with the effect of economic crisis in the hospitality industry in Europe the low cost of credit can be considered to be an effective step fighting against the crisis of funds and it is believed that the European commercial banks will be the most active type of lender in the European hospitality industry in the coming year as they will work towards lowering their cost of credit and thus it will be beneficial to the hospitality sector which is struggling due to the economic crisis. Data about European Hospitality industry This question is of major concern that that how long will this economic crisis go and how will all the European sectors survive in this bad economy when the entire world is getting affected with this global economic crisis. Despite other sectors, the European hotel industry is getting severely hit with this crisis and this can be well understood by the data illustrated below. An analysis done by IMF, stated that Europe’s biggest economy, Germany will get severely affected during this crisis with a 5. 6-percent GDP decline in 2009 and a 1. 0-percent dip in 2010, while the GDP in the euro area, completely is expected to be going down to 4. 2 percent in 2009 and 0. 4 percent in 2010. The data reveals that the GDP rate will go down by 1. 5% in last quarter of the year as compared to the third quarter which is definitely a sign of concern and effective steps required to be taken to come out of this problem. Talking about the unemployment figures in the European hospitality sector in the year 2009, as compared to the numbers of year 2008, the statistics show that there will be a rise in the unemployment from 6,8% to 7,6% in EU27 and it will go up from 7,2% to 8,2% in Euro area. It is a matter of great concern and worry for the government of any country when they are experiencing a steady downfall in their GDP and their graph of unemployment is going high in any of its business sectors and that calls for the time when they all need to unite together to fight against this severe crisis as this is the indication of a very big crisis for that particular nation and the data clearly states that Europe is struggling badly with this situation and needs remedial measures which are effective enough to bring Europe’s hospitality industry to come out of this situation. The data also describes that there has been a visible drop in the European economic sentiment indicator which is also an important reason of the low confidence in the European hospitality industry. Figures state that the Economic Sentiment indicator, in short termed as ESI went down by 2. 2 points while it was earlier stable at 61. 0 points during Janaury-09 –February 09 in EU27. While it went down from 65. 4 points to 63. 6 points thus showing a downfall of 1,8 points in the Euro area. When the entire globe is suffering from this problem of recession and bad economy, Europe is also facing the hit back in the tourism industry. A study revealed that the tourism prospects in the year 2009, for European cities will be a stage of stagnation or it may even go down by around 3% than the earlier times and figures. A survey conducted by Deloitte and Touche on the European hotels revealed that the occupancy rate of rooms in the hotels of Europe went down from 69. 3% in the year 2007 to 66. 9% in the year 2008. Although all the major cities of Europe have suffered due to this crisis but the most badly affected cities are Rome, Dublin and Prague. According to the Eurobarometer survey conducted on the 27,000 tourists coming to 27 EU countries for their holidays with family and friends in the year 2009 , the study reflected that around 1/3 of the people stated that there has been a drastic change in the plans which they make for their travel and leisure by decreasing their accommodation cost budget, out of which around 38% belonged to the category of completely swiping out the option of going to Europe for their holidays, others stated that there will be no change in their cost of accommodation budget due to this economic crisis. The study also stated that to fight against this crisis and still not completely go away with their idea of going on holidays, they would rather do little bit of adjustments and comprises to fit the holiday budget to their pocket. 15% of the surveyors stated that they would save on accommodation, 23% mentioned that they would prefer to go on vacation in the low season when the prices will automatically come down and they do not need to cut down on their estimated budget, 23% mentioned that they would try to cut down on their restaurant expenses and 30% mentioned to cut down their shopping budget to manage their vacation and enjoy with their families and friends. Economic Crisis with low confidence The Economic crisis when followed with the lowering of confidence in any sector becomes a reason of great concern and worry for the government of any nation and the situations like this needs an immediate attention and plan of action as if it is not dealt in time it may lead to adverse consequences for the economy of any nation. Such thing was experienced by the European hospitality industry in the year 2009. The data gathered by DLA Piper 2009, Europe Hospitality Outlook survey on the reasons of low confidence on the European hospitality industry during the time of economic crisis were found to be Struggling European economy, current operating performance of hotels, time and cost restraints on consumer travel, Lack of liquidity (debt or equity), Struggling US economy, Reduced business travel and last but not the least Lack of confidence in Europe’s political leaders. A survey done by DLA Piper’s 2009 Europe Hospitality Outlook Survey stated that almost 84 % of participants consider the European hospitality market to be bearish. Majority of the participants of the survey did not expect the European hospitality industry to come back to its original state until year 2011. Almost 70% of the people have cut down on their business travel due to the economic crisis. The survey also tried to gather numbers regarding the investment options in the European hotel industry and it found that around 71% of respondents believe that investment in Sustainable hotel development is a long-term trend. And there is a widespread risk of bankruptcy for European hotel chains. The major concern of the participants was the clause passed by EU Parliament regarding the potential removal of an EU country’s right to opt-out from the Working Time Directive which limits to an employee’s working hours to forty eight hours only. They mentioned this to be a very strong reason to put a negative impact on the European hospitality industry. Recovery Plans of European Hospitality Industry It is a fact that the European hospitality industry, along with the other sectors has suffered major setbacks in the year 2009 due to the economic crisis and this can be well described and understood by the data gathered by DLA Piper 2009, Europe Hospitality Outlook survey. The survey revealed that almost 84% of the participants mentioned the European hospitality market to be the bearish one when queried regarding their confidence in the European economy they stated Expected rebound of European economy, Foreign investment in European market, Abundance of equity capital available for investment, Expected rebound of US economy, Investment opportunities created by financial crisis and Confidence in Europe’s political leaders as the factors that in any situation will let the European hospitality industry come out of any such crisis in the present time and in the future times to come. European hospitality industry along with the major tourism associations like WTTC, UNWTO, HOTREC and PASTA are quite optimistic towards the idea that European hospitality sector will be able to cope up with this economic crisis and will easily survive this hard economic time. European tourism sector has faced a lot of obstacles till the time it has reached the 21st Century and developed such face of tourism for the entire world. Although, it is a true fact that this sector will go through hard times in the next coming months but the enterprises which are flexible enough to adapt to the required business model and plan their strategies keeping in mind the existing scenario will easily be able to survive and develop a strong platform for their existence in the long run in the European Hospitality industry. The recovery plan to successfully face the problem of economic crisis has been divided into a few segments or divisions so as to leave no stone unturned to fight with this scenario and bring back the economy to its stable state. It was segmented as 1. Recovery at EU level 2. Recovery at National Level We will discuss in brief the steps and measures taken at both the levels to beat the Economic crisis. 1. Recovery at EU level The European government considered dealing with the economic crisis quite seriously and so they planned the various meetings of the EU heads of State. They all mutually agreed upon following three lines of actions so as to come out of this situation. First one was to promote the financial stability in such a way that the confidence level of the people gets a boost again on the government along with the European Economy which is badly affected with the economic crisis. Second plan of action was to get the real economy to the shape where it was earlier, and third one was the most important one. It was to stay tightly united to fight against the crisis and to work together at the global level. The third measure sounded bit simple to sate but it was the most effective plan of action to get out of such a critical situation. Several measures were taken by the Government at the EU level out of which one measure specifically taken by the EU state with regards to the hospitality industry was to change the existing VAT Rate system. The new provision stated that all the member states will be granted the permission to apply for a reduced VAT Rate for the restaurant services. The current provision had this option to only 11 members so now this will be applicable to all the member states in EU.

Soul Food vs. Fast Food Essay Example for Free

Soul Food vs. Fast Food Essay As Applebees would say, â€Å"There’s no place like the neighbor. † How would the world classify good food? Which one will result in the best answer, hamburger and fries or biscuit with gravy? Is hamburger and fries the best choice because a biscuit with gravy takes more time? There are a lot of reasons why people choose homemade food versus fast food. Both homemade food and soul food taste good, however homemade food offers a variety of history, emotions, and memories of different cultures. Different family meomories take a part of it when its soul food ,because there’s nothing like grandma’s cooking . The homemade food brings family members together. African Americans use the word soul food to describe homemade foods. Soul food normally provides the opportunity for families to come together and even though its a lot of drama when every one come to gether u always remember the food the most . The dinners at grandma’s house are always remembered by family members. The dinners usually consist of chicken, potato salad, beans, and biscuits. After the traditional dinners, someone will always serve the homemade desserts. The elders are normally appreciated because of their love, patience, and knowledge with soul food. This fact never fails, a person who knows about soul food will always return home for their culture’s food. Love can almost be tasted in soul food which comes through mostly in the actual preparation of the dishes. Soul food has a great affect that comes with a special touch, precious time, and extra ingredients. The cook puts so much love in preparing soul food for the family. In many cases, the cooks get delighted when the family eats the food. The cooks obtain a warm feeling especially when someone praises their work. In many cases, people will try their best to Cook soul food just like their mother and grandma, because they miss their soul food. Soul food makes a house feel like a home because the food represents love and comfort. Soul food has history because it passes traditions and customs of the past elders of the family. â€Å"How do you make homemade peach cobbler,† the elders will say, â€Å"Watch carefully and you can learn. † Being a country child growing up, and understanding the background of soul food makes one appreciate the food more. The cannery is where garden vegetables are canned and there are few canneries still around in today’s time. The opportunity of going to the cannery with grandparents is a memory to cherish along with picking fresh vegetables from the garden. This opportunity sets aside the time to learn that homemade cooking is a job before the pots start boiling. On the contrary, fast food restaurants are an excellent choice of convenience. For example at Burger King, a fast food restaurant,†you can have it your way. † The choices of fast food restaurants are a great thing to have in the world. Also, the restaurants are excellent when traveling and trying to satisfy the hunger pain quickly. When parents do not feel like cooking a home cooked meal, they can always go through the drive-thru. Fast food restaurants can be good for a quick date. Quickness is great, especially in today’s society. Applebees is a great place to get away from home for the night. Many people take pleasure in going to fancy restaurants by themselves, with a date? or to gather with friends and/or family. There are plenty of restaurants that are appropriate for every occasion and all ages. Restaurants leave the stomach satisfied but can be healthy and allow family time together. Why healthy? Restaurants include in their menu a variety of salads options grill or bake dishes, and even a weight watchers’ menu. The decision is always in one’s hands to decide between a health dishes or unhealthy dish. All food is delicious but, has downfalls. For instance, fast food does not represent any love but just quickness. There is no special touch, time spent, and extra ingredients. Fast food basically has a concern of reasonable prices or either having the fastest time in the drive –thru. A lot of employees are just in the restaurant to get a pay check rather than having a concern for the customers to have a good lunch or dinner or even breakfast. The restaurant is leaving out the family time because mostly the families are on the go all of the time. The time spent with preparing traditional food is appreciated, but, the tradition that people look for is quickness in fast food restaurant, which leads to obesity. The number one problem is obesity in fast foods. The reason for this issue is that parents go through the drive-thru and let the child order everything. Another reason is that parents are at work all of the time, and this generation is basically choosing from frozen food or fast food when living in this situation. Obesity comes from parents who do not have the time to prepare a loving home cooked meal, only because the parents’ lives are put before their child’s life now. This simply means the child will consume foods by these restaurants or frozen food. This is done on an everyday basis, such as, when the parents take care of their business first or think of something quick all of the time to feed the child. Fast food restaurants are shut down every day due to many reasons. Reasons include failing several health inspections, lack of cleanliness, and not enough cautions. The downfall of this is people do not pay attention to the environment of where their food is coming from. They are all always in a rush. Instead of considering how long it takes to prepare a meal, one should consider it an opportunity to spend more time with the family. People just put their trust in the Employee’s and is not concerned about the cleanliness of employees’ hands. Simply, people need to take the time to pay attention, because fast food is not prepared with so much or no caution. â€Å"Fast food versus soul food,† what could the choice be? Fast food will be the choice if one is on the way to work. Soul food is the ideal choice if one does not have anything on their agenda for the next hour. In this paper, fast food restaurant versus soul food is different and similar in many ways. Fast food is mainly quick and easy. Soul food takes time, yet, it is filled with passion, love, and care. Fast food versus soul food is everybody’s decision every day, just think about the reason why the choice is made, not about the taste of every meal.

Analysis of Young People’s Buying Behaviour

Analysis of Young People’s Buying Behaviour 1.0 Introduction In a very conservative and traditional context, businessmen used to focus on the consumers lying between the age group 30 and 45. However, things have changed in the last two decades, in the sense that more and more young people are entering the markets as potential buyers (Michman et al., 2003). One simply cannot accept the fact that consumerism and the material aspects of life are confined merely to the older generation. Actually, the young people of today are much more in tandem with the varied aspects of consumerism and materialism. In this context, it has become imperative for the businessmen to understand and have a pragmatic insight into the buying behaviour of the young people, so that they can target their marketing strategies and business plans as per the needs and aspirations of this potent and influential consumer segment. It is a must for the businessmen to understand as to how the young consumers perceive and value their products and services. Realistically speaking, th e more competition oriented and proactive businessmen are already in the process of narrowing down their focus on the young consumers. Yes, to a great extent, the young people of today are more receptive of and vulnerable to varied promotional and advertising approaches (OShaughnessy OShaughnessy, 2003) . Also, the youth in the current times does have an access to disposable income, which it prefers to spend on luxury and consumer goods. Still, this in no way justifies the utterly simplistic conclusion that the young consumers are sitting ducks. Actually, the young consumers are not merely lured by the expensiveness of a product, commodity or a service. The young people, like any informed consumer segment, do intend to desire value for money and are open to only those products and services, which add to their sense of well being and individual identity (Simpson et al., 1998). With the rise in the numbers and purchasing power of the young consumers, the businessmen not only need to know about this consumer segment, but must also put in efforts to orient their business strategies and promotional activities, as per the expectations of this consumer base. 2.0 Mega Trends Shaping Young Consumers May sound strange, but, the expectations and aspirations of the consumers in every age and time tend to change and alter? Each age has its own concept of individuality, family, identity and social status, and the preferences of the consumers do respond to these mega trends. 21st century being the age of information and the internet, the young people of today should not merely be expected to be cognizant of the mega trends unravelling in their age, but also that they being young are more likely to suit their buying preferences in consonance with these rampant trends (Manolis, 1999). Businessmen who are oblivious of the mega trends influencing the young consumers are more likely to be left behind in the race for survival and sustenance (Rotfeld, 2001). In that context, it will be really interesting to touch on the mega trends to which the young buyers of today are exposed to. 2.1 Fading of Age Barriers Changing consumer values are influencing the buying behaviour of young people. So it is necessary for the businessmen to understand as to what ticks the contemporary young consumers. The consumers of today have an age defying approach towards consumption (Fine, 2002). People no more consider age to be a marker of personal identity. On the one side the consumers affiliated to the older age groups are getting more open to the products designed and marketed with the young people in mind (Lancaster Reynolds, 2005). On the other side, in case of young people, not only their buying power has considerably increased, but they are being extended a greater autonomy, as far as their buying decisions and aspirations are concerned (Roberts, 2002). Todays young consumers acquire brand awareness and develop brand loyalties at a very nascent stage (Lunt, 2002). So, the businessmen who are cognizant of this trend can expand their customer base, by altering their marketing and promotional strategies, so as to make them age neutral and focused more around the values and aspirations that are common to all age groups. This way then can reap double benefits from their advertising investments. They can woo the young people, without alienating their mature consumer base. Any businessmen who is competition minded simply cannot afford to ignore the trends shaping the buying behaviour of the young buyers. 2.2 Health and Fitness Going by the augmenting trend towards fitness and mental well being, the young consumers today are immensely health conscious (Iacobucci, 2001). The young buyers have a holistic approach towards consumption and do believe that physical fitness and mental well being are of paramount importance. It is not a wonder that most of the advertisements one comes across in media publications and broadcasts feature young and healthy people with a positive and fun loving approach towards life. Businessmen do need to take cognizance of this trend, actively moulding the buying behaviour of young people. Today, a significant number of young consumers in Europe and United States believe that their consumption patterns should be such that, they should insulate them against the life style diseases (Sirgy Samli, 1995). Consumers groups are increasingly taking steps and measures to assure that the vendors and companies adhere to the established health standards and regulatory norms (Mazis Raymond, 199 7). Hence, the most logical conclusion will be that a businessman who chooses to target this trend towards health and convenience and alters ones manufacturing and promotional strategies to highlight this trend is bound to reap manifold benefits and profits. On the contrary, ignoring such consumer aspirations or simply failing to highlight them, are bound to alienate young buyers, who may then chose to transfer their buying potential to the businesses that are more sensitive and responsive to their expectations and needs. 2.3 Changing Family Values One more trend that is impacting the buying behaviour of young people and of which businessmen need to take cognizance of is the changes in the life stage cycles and family structures in the modern society (Dizard Gadlin, 1990). Though it is a fact that most of the young people do prefer to stay in their nuclear families, but there exist a significant proportion of young buyers who prefer to leave their families and live alone, on their own. Also the young people of today prefer to spend a significant part of their lives as singletons (Nathan, 2007). Hence, this trend is destined to shape the buying behaviour of young people. They are more likely to prefer products and services that are not manufactured, packaged or priced with the family consumer in mind, but are rather customized as per the requirements of the single young people. Businessmen do need to keep an alert watch over the altering social trends and must customize their service procedures, manufacturing plans, packaging s trategies and pricing policies, with an eye on the mindset of contemporary young and single buyers (Alhabeeb, 1999). May, sound funny, but good businessman by necessity needs to be a demography and sociology expert. It is next to impossible to attract the young buyers, without having an insight into the social and cultural trends that shape their buying behaviour. 2.4 Time Constraints The young people of today, including the young women are career oriented and do not have the time and patience to indulge in elaborate household chores and responsibilities. The time at the disposal of the young people of today is more scarce and dearer then what it used to be two decades ago. In every aspect of life, be it fitness, entertainment, personal grooming, nutrition, etc, the young buyers place a high premium on convenience and economy of time (Michman Mazze, 2001). The entire fast food industry is to a great extent dependent on the patronage of young buyers, who do not have the time and patience to wait long for elaborate meals. So, if an enterprising businessman who is aware of this trend towards convenience and could offer products and services that could extend the desired benefits while assuring convenience and economizing on time, is destined to own a booming business. 2.5 Mixing of Gender Roles The other thing that is bothering the young consumers of today is the fading of the gender roles (Fulton Maddock, 1996). Just two decades ago, the varied aspects of Western culture, be it education, cinema, media, arts, etc tend to focus on defining as to how a boy or a girl should look or behave like. However, the role models available to the contemporary young buyers are oft gender neutral. The young women of today by necessity are required to develop male attributes like assertiveness, aggressiveness and confidence (Fulton Maddock, 1996). Similarly, the young men in the contemporary Western society exhibit female attributes as being conscious about looks and personal grooming, dieting to improve health and fitness and spending more time at home and not being averse to indulging in household chores and responsibilities (Fulton Maddock, 1996). Thus, the type of products and services that the young buyers of today prefer to subscribe to are definitely not the same that they used b e just twenty years ago. Businessmen need to learn from this shift in the buying preferences of young people and must respond appropriately. 2.6 Need for Connectivity In the modern times, marked by high divorce rates, breaking families and loosening of social bonds, young people do look for products and services that fulfil their need for connectivity (Roberts Foehr, 2008). If this is not so, then how can one explain the success of social networking platforms like Facebook and Twitter (Tassel, 2006). The revolution in telecommunication technology could also be attributed to the need of the young people and aspiring professionals to remain connected. At an emotional level, young people tend to cherish business organizations, products and services that endow them with an opportunity or a portal to bond or connect with their friends, loved ones and likeminded people. Therefore any business aspiring to be a rage amongst its young clientele simply cannot afford to overlook this fact. Businessmen determined to influence and convert the young people need to add a connecting element to their products and services. Varied mega brands like McDonalds and St arbucks, to a great extent owe their success to their ability to create venues where young people can feel comfortable to mingle with the people they like. So the businessmen of today are not only required to know about the buying habits of young people, but are also required to be able to think like their young clients, at least conceptually if not intellectually. 2.7 Redefining of the Concept of Luxury Most of the aware and astute businessmen do know that as far as the markets for young people are concerned, they are witnessing a new egalitarian trend in the demand for luxury goods (Eun-Jung, 2008). Just three decades ago, the young people affiliated to different socio-economic strata desired different goods and products. However, today it is not the same. With the rise of the urban middle class, most of the young people hailing from middle class families demand and desire the same commodities as enjoyed by their young counterparts (Eun-Jung, 2008). The premium brands have already taken a hint from this upcoming trends and have started coming out with product ranges that are affordable to their low-income or middle-class young customers (Eun-Jung, 2008). The young consumers of today across all economic segments seek products that extend to them, comfort and indulgence. No more the notion of luxury or comfort is regarded as an attribute that is affordable only to the rich. The democ ratization of education and professional training has created a new breed of young professionals, who may not afford a personal Jet or a Limousine, but when it comes to their culinary preferences, entertainment avenues and the gadgets they possess, they are not very different from their rich friends. Any businessmen simply cannot ignore these socio-economic developments. If one does so, then one will soon lose to the competitors who are shrewder at deciphering socio-economic trends. The young consumers are more than ever ready to look for new experiences and qualities in the products and services they avail. Besides, courtesy the onset of globalization, the young consumers are also immensely willing to try exotic products and services from faraway locations and countries around the world (Lukose, 2005). It would certainly not be too exaggerated to claim that it is the young people who are the primary trend setters in the contemporary markets, and any businessman oblivious of the immense power of young customers in the modern economies, simply could not hope to do well or eventually survive. Look at any new innovation or any new product, be it the Apples iPhone or iPad, first of all it was introduced and tested on the young buyers, before it was targeted to the more mature users (Kahle, 2008). Besides, considering the logical conclusion that the young buyers are likely to stay in the markets for a longer time, it makes sound business sense to convert them while they are young and hence relatively more impressionable. Also, the well connected young people do have a tendency to spread the news about the products and services they like. Hence, understanding and targeting a young clientele assures ample word of mouth publicity and free promotion. 2.8 The Advent of E-Commerce E-commerce is a natural outcome of the information revolution and the ubiquity of the internet usage. Businessmen opting for e-commerce oriented retail or owning online companies would commit a great blunder if they ignore the buying behaviour of their young clients. However, luckily, most of the e-commerce entrepreneurs do have a fair notion of the obvious advantages that a young customer base offers to an online company. Todays young people are to e-commerce what their parents were to cable television. Yet, unlike their parents, they constitute a market that still remains largely unexplored, going by the dearth of astute e-commerce entrepreneurs (Siegel, 1999). First and foremost, 16-30 years old constitute the largest chunk of the people who regularly use internet and go online (Rosen, 2001). Not to say, these young customers do have money to spend and also the discretionary power to freely decide about the products and services they need to avail (Rosen, 2001). A businessman if m anages to attract a tiny fraction of the purchase power at the disposal of the young surfers, it would amount to millions of green backs. However, if the e-commerce entrepreneurs lack an insight into the buying behaviour of the young customers, their websites are as good as an ugly picture on the wall. For example, very few businessmen know that young buyers who purchase online do not like to be overwhelmed with options (Youn, 2008). They desire to choose from a small collection of well selected product variations. May sound surprising, but the wired generation is also well aware of the leverage that online product selection and purchase endows them with and hence the uninformed businesses may often commit the mistake of testing their patience. The good thing is that the young online buyers are mostly willing to extend personal information in exchange of freebies (Youn, 2008). Yet, on the other side they greatly detest it if their vendor is not transparent and straightforward. Also, these consumers are very intolerant of poorly executed websites. Yet, they can easily be attracted by offering small incentives. So, in the realm of e-commerce, the crux of the game is to have a grip over the buying behaviour of young people. 3.0 Conclusion The generation X of today differs from its predecessors in the sense that it has the money to spend and the autonomy to make business decisions. Any worthy businessman aspiring to survive and grow simply cannot afford to overlook the purchasing power and buying behaviour of young consumers. Not to say, understanding the behaviour of young buyers is not as simple as it sounds. The buying behaviour of young people of today is an outcome of a wide range of mega trends that are influencing and shaping their consumption decisions. Therefore, the best approach for a successful businessman or a company is to keep a keen eye on the changes in the buying behaviour of young people and the trends that lie behind these changes. Young people constitute a very flexible and malleable market, and require a lot of patience and understanding on the part of potential sellers.

Golden Demon :: essays research papers

The Golden Demon (Response) Golden Demon (Konjiki-yasha) is the most important work of Koyo Ozaki, who was a pionner in modern Japanese literature. Since its publication in the form of a serial story in a daily newspaper, the novel has commanded high opinions, and many films and plays have been made of it. The â€Å"Golden Demon† synopsis is about a penniless drifter loses the woman he loves when her parents arrange her marriage to a rich playboy. Filled with bitterness and despair, the young man devotes his life to acquiring great wealth, which gradually turns him into a ruthless money lender. In brief, Omiya has a fiancà © whose name is Kwanichi. They love each other; however, she is loved by a capitalist, and her parents hope her to marriage Tomiyama. And Omiya also was dazzled by his wealth and married him. The story is talked Kwanichi’s grudge against her and Omiya’s regret about her marriage calmly, plus, it has been continued for six years. The poor girl, Omiya, couldn’t even die because of her regret feeling. She was still a old-fashioned girl who believed one’s fortune, and Kwanichi was simple-minded guy who become a leech because he was far beneath Mr. Tomiyama in wealth. However kwanichi was not really hero because he was deprived of his fiancà © and did not try to take her back. In Golden Demon, it lively depicts the live of people struggling and surviving powerfully despite being tossed about by the quickly changing waves of modern society. At the same time, the movie focuses on â€Å"love and money†, which we can safely say are universal themes for all human beings. The narrative is very â€Å"pre-modern† if â€Å"the modern† means the sense of self as unique, organic subjectivity. Since the narrative oscillates between that of and omniscient third person and emotional soliloquies by Kwanichi, Tomiyama, and especially Omiya, the reader can not see any trace of the boundary between the self and not-self. The narrator is, in this sense, nobody, who is floating in interstices of characters. This was not unusual at all before the modernist period, but it is interesting that object people’s voices restores the pre-modern type narrative in to the modern period. Does this mean that the social objects have no voice to be represented in modern narrative? Furthermore, in terms of its truth value in reality and self, for example, the value of realist narrative and confessional narrative, it was quite new and the first to openly mimic Zolaist naturalism.

Isaac Newton :: Biography, Science

Isaac Newton was a brilliant scientist who discovered many important things. The sources for this report are Encyclopedia" and the book "Isaac Newton: The Greatest Scientist of All Time" by Margaret Jean Anderson. Sir Isaac Newton was born on December 25, 1642 (according to the Julian calendar which was in use then; the date was January 4, 1643, according to the Gregorian calendar in use today), at Woolsthorpe, near Grantham in Lincolnshire. His widowed mother remarried when he was three years old, leaving him in care of his feeble grandmother. Eventually his mother was persuaded to send him to grammar school in Grantham. Later, in the summer of 1661, he was sent to Trinity College, at the University of Cambridge. Isaac Newton received his bachelor's degree in 1665. After an intermission of nearly two years he returned to Trinity College, which elected him to a fellowship in 1667. Isaac Newton received his master's degree in 1668. Newton ignored much of the established curriculum of the university to pursue his own interests: mathematics and natural philosophy. Proceeding entirely on his own, he investigated the latest developments in mathematics and the new natural philosophy that treated nature as a complicated machine. Almost immediately, he made fundamental discoveries that were instrumental in his career in science. Sir Isaac Newton, the English mathematician and physicist, is considered to be one of the greatest scientists in history. He made important contributions to many fields of science. His discoveries and theories laid the foundation for much of the progress in science and math since his

Learning Environments of Different Economic Levels Essay -- Education

Learning Environments of Different Economic Levels Pictures not only display an image in our minds, but the language of the picture conveys a certain message to the viewer. For example, the picture â€Å"Instruction at Home† displays an informal learning environment in a third world country, while the picture â€Å"The Lesson--Planning a Career† displays a formal learning environment in a more developed country. Based on the appearance of the students in the pictures, the children in "Instruction at Home" appear to be more attentive and interested in the material than the students in "The Lesson--Planning a Career," who appear bored and disinterested. These images tell us that the students in impoverished countries place a higher value on their education because it is a rare privilege, rather than a mandatory responsibility, as displayed in "The Lesson--Planning a Career." These differences in educational environments, which are displayed in the two pictures, are influenced by the economic levels of the soci ety in which the students live. The first picture, â€Å"Instruction at Home,† displays the learning environment of lower economic levels. In this picture, two young children, about six or seven years of age, sit in front of a makeshift blackboard attentively listening to their teacher, who is most likely their mother. The learning environment is not a classroom at all, but a small space in the corner of their home. They sit in two wooden chairs facing the blackboard, which is really just a black cloth with letters and numbers drawn on it. Their teacher stands to the side of a small desk cluttered with a few small items and a kerosene lamp, while using a walking stick to point to the board. A calendar hangs o... ...it is apparent that there is a concrete message enveloped in the lessons at home and in the classroom. The students in â€Å"Instruction at Home† are more eager to learn their alphabet than the students in â€Å"The Lesson† are to learn about planning their careers. The children in â€Å"Instruction at Home† have been brought up in a primitive culture where nothing has been spoon-fed to them, unlike the students in Western civilization. Therefore, the children that have been raised in poverty place a higher value on an education, which they see as an incredible opportunity to better themselves and rise above the harsh reality of their world. The students in â€Å"The Lesson,† however, perceive school as a mandatory responsibility. The two pictures show that the better the economic level one lives in, the better the learning environment, which leads to greater economic success. Learning Environments of Different Economic Levels Essay -- Education Learning Environments of Different Economic Levels Pictures not only display an image in our minds, but the language of the picture conveys a certain message to the viewer. For example, the picture â€Å"Instruction at Home† displays an informal learning environment in a third world country, while the picture â€Å"The Lesson--Planning a Career† displays a formal learning environment in a more developed country. Based on the appearance of the students in the pictures, the children in "Instruction at Home" appear to be more attentive and interested in the material than the students in "The Lesson--Planning a Career," who appear bored and disinterested. These images tell us that the students in impoverished countries place a higher value on their education because it is a rare privilege, rather than a mandatory responsibility, as displayed in "The Lesson--Planning a Career." These differences in educational environments, which are displayed in the two pictures, are influenced by the economic levels of the soci ety in which the students live. The first picture, â€Å"Instruction at Home,† displays the learning environment of lower economic levels. In this picture, two young children, about six or seven years of age, sit in front of a makeshift blackboard attentively listening to their teacher, who is most likely their mother. The learning environment is not a classroom at all, but a small space in the corner of their home. They sit in two wooden chairs facing the blackboard, which is really just a black cloth with letters and numbers drawn on it. Their teacher stands to the side of a small desk cluttered with a few small items and a kerosene lamp, while using a walking stick to point to the board. A calendar hangs o... ...it is apparent that there is a concrete message enveloped in the lessons at home and in the classroom. The students in â€Å"Instruction at Home† are more eager to learn their alphabet than the students in â€Å"The Lesson† are to learn about planning their careers. The children in â€Å"Instruction at Home† have been brought up in a primitive culture where nothing has been spoon-fed to them, unlike the students in Western civilization. Therefore, the children that have been raised in poverty place a higher value on an education, which they see as an incredible opportunity to better themselves and rise above the harsh reality of their world. The students in â€Å"The Lesson,† however, perceive school as a mandatory responsibility. The two pictures show that the better the economic level one lives in, the better the learning environment, which leads to greater economic success.

Globalisation & Liberalisation

According to Herman E Daly, Globalization serves the villous of a single, cosmopolitan, integrated global economy. This definition focuses on the cross border movement of goods, services and resources (financial and human) impacting on the domestic and global assets and employment. Globalization, thus focuses on an integrated economic world in which the economy is a single market characterized by trade and Investment flows, cross border economic activities In production, Investment financing, movement of capital, technology, labor, Internationalization of consumption, capital, and services.Economic liberation's is the gateway of globalization and financial liberation plays the most crucial role in integration of one neutron economy on the global economic network. However, very often the term liberation's and globalization are used simultaneously. Important instruments of liberation's are regulation of financial market to allow foreign capital, foreign investment, to and fro flow of c apital etc. Reduction of tariff and non-tariff barriers of trade, simplifications of customs measures etc.For successful global Integration a country must move to economic liberalizing by dismantling entry barriers and Licensing system, reduction in physical restrictions on imports, reduction in control n capital and current account, reforming financial system and opening up financial market to private (domestic and foreign) players, removing controls on foreign capital (FDA and portfolio) flow to the country etc. Globalization however, Is not a new phenomena of the current world activities.Economic historians have traced two strong waves of globalization. The first wave of globalization spread over 1 870 – 1914 while the second wave of globalization began roughly in 1960 and continuing. The current wave of globalization is much faster and deeper. Globalization today is fundamentally a new economic phenomenon, and a process to set up a new economic order globally increased in tegration and Interdependence of production, consumption and services. The present wave of banquets – Volvo.V Issue 1, January 2005 Globalization and Life Insurance gallstones NAS slantingly Innocence Improved speculation In resource allocation, productivity enhancement and specialization and greater innovation, adaptability and utilization of technology which has necessitated the need for cross border economic activity for all the countries. Resource mobility has not only reduced the cost of production and distribution but also boosted competition across the order.Drivers of Globalization The present wave of globalization has been significantly influenced by advances in information and computer technology, increased flow of trade and capital. Improved specialization in resource allocation, productivity enhancement and specialization and greater innovation, adaptability and utilization of technology which has necessitated the need for cross border economic activity for all th e countries. These have not only reduced the cost of production and distribution but also boosted competition across the border.Therefore important drivers of globalization are expansion of International Trade, Internationalization of Financial Market and Migration, Baldwin and Martin (1999) observed key aspects of globalization namely Trade, investment, migration and Factor prices , Capital flows and Markets, and Industrialization and Income Convergence and Divergence. Both waves of globalization were driven by radical reduction in technical and policy barriers to international transactions†¦. But the uniqueness in recent globalization is heavily shaped by the dramatic reduction in communications cost, what is sometimes referred to as the death of distance'.Financial Globalization Advancement in information technology, innovation in financial products, and increase in trade and services provided boost to the cross border flow of capital. Capital Mobility is considered as an in dicator of financial integration. Other indicator being gross stocks of foreign assets and liabilities. We shall discuss this in detail the section Financial Globalization The process of Globalization is strongly supported by Financial Globalization.There is an inextricable relation between increased international trade in goods and services and the increased flow of international UAPITA. It is because increased trade is followed by increase in payments, banking service, hedging etc. Stock markets, as we have noted in the beginning, has replaced the role of Banking to a great extent as a financier to corporate and development funds. Stock markets, in a globally integrated financial market facilitate risk sharing, improve efficiency of resource allocation, impact savings decisions and provide liquidity thus supporting faster economic growth.Globally integrated stock markets facilitates economic growth in several ways namely : Banquets – Volvo. V Issue 1, January 2005 021 Impro ve much name eloquently In ten market Prove prudent resource allocation prospects Create an environment for flow of savings thus reducing uncertainty of capital in the market Reduce risks through global diversification Liberalized and internationally integrated stock markets thus boost economic growth. Benefits of Financial Globalization Liberation's and globalization produces immense benefits to the countries integrated.Liberation's creates conducive climate for faster economic growth, allows upgrading of technology, provides scale economy, expansion of markets domestically and internationally. Economic integration through liberation's can also expand Job opportunities in domestic market and through migration of labor in general. Financial Globalization produces higher economic growth through direct and indirect impact on economy . Liberation's and globalization produce immense benefits to the countries integrated.Liberation's creates conducive climate for faster economic growth, a llows upgrading of technology, provides scale economy, expansion of markets domestically and internationally. Economic integration through liberation's can also expand Job opportunities in domestic market and through gyration of labor in general. However, liberation's of financial markets provides growth generating opportunities including the following. By encouraging FDA, developing economies can import much needed technology, which would further generate spillovers for local firms.Saggy (2002) mentioned three types of potential channels of spillovers, namely Demonstration Effect, (local firms adopting multinational introduced technologies), labor turnover switchover of trained labors to local firms (enabling technology diffusion) and vertical linkages (multinationals supplying technology to suppliers of intermediate goods). Global Financial integration augment much required domestic saving and boost up capital investment in investment starved countries. It also provides avenues fo r better allocation of capital and minimizes risk.Further, capital flow is accompanied by transfer of technology and finally assists in promoting healthy capital market. Indirect influences of globalization include promotion of globalization and integration of domestic economies which is followed by improving the macro economic policy frame work and setting up economic institutions and better governance system. Financial Liberation's has forced many countries to open up financial markets and relaxed the rules of intermediation allowing financial services institutions like investment banks, asset management companies, Mutual Funds, Pension Funds etc. To operate in newly liberalized markets. The forces of change unleashed by financial globalization, reenacted In Electroplating AT Dangling system, Increase In cross border financial activity increased competition in savings market convergence in financial services industry. B. Globalization of Insurance Market Insurance is an integral p art of national economy and a strong pillar of financial arrest. Therefore, waves of globalization have also deeply influenced the insurance market worldwide. Financial Market Globalization has also been strongly supported by Globalization of Insurance.With the increase in Trade, Direct Investment and Portfolio Investment, there has been an ever growing demand for Insurance services particularly in the emerging markets. Globalization of Insurance market, as a part of the overall process of liberalizing in emerging and other countries enabled the foreign insurance companies to enter in those countries and benefited both. The riving forces of insurance market globalization has been identified by Swiss Re (Sigma No. 4/2000) as the ‘push factors' and ‘Pull Factors'.The Push factors are the motives behind the movement of foreign insurance companies while the pull factors are the motives behind allowing the foreign companies to operate in local market, l) Push factors : Insura nce Companies move out to emerging markets due to Increasing Global Trade , Growing Direct Investment , Potential Future Growth in Emerging Markets , Saturation in industrialized countries and Strong growth in emerging entries and expected Efficiency Gains through Diversification , Economics of scale etc it) Pull Factors : The important pull factors in emerging markets – Emerging Markets have Strong Economic growth and Trade, and there are substantial requirements of capital in Emerging Markets to cover major risks. There are several benefits to the countries allowing foreign insurance companies to operate in their countries which can be broadly classified into Economy related, and Insurance marked related Economy related benefits to the local country : Foreign insurance companies along with local companies add further momentum to obligation of savings. Institutional net work in the savings market increases, which also influence the savings behavior of household and corporate savings.Resources and capital allocation in the Domestic Market increases with the increased sophistication brought by the foreign insurance companies It also improves the financial stability in the host country, as well as facilitates improvement in production and Trade. Banquets – Volvo. V Issue 1, January 2005 023 Insurance market related benefits : Capital structure of entire insurance industry improves because foreign companies brings fresh capital with them. Market efficiency improves due to information dissemination, global operating knowledge and increased competition. Management inclemency Increases Decease Torrent companies Drill Walt teem global experience and management innovation. Range of available products increases because foreign companies bring with them a wide range of products and product development expertise.Customers' service improves. Increased competition, technology led service, and cost competition finally benefits the consumers. Globalization also improves Regulatory and Governance system. It also improves market conduct and Ethical Business Standard. Jennifer Rankin (2003) mentions the following factors driving the insurance companies' cross border activity. Many countries are moving away from protectionism and state control and taking more market driven approach especially in the insurance and financial services and opening up their markets to foreign companies. The process of Insurance globalization significantly influenced by the GOATS/WTFO.A major break through was achieved in 1997 with an agreement of Liberation's of financial services following which 102 countries committed to remove entry barriers and liberalism their markets. The GOATS agreement offers legal security and protection to global insurance players. With the removal of entry barriers in emerging and less developed countries there has been an increased flow of funds from developed countries to the emerging and less developed countries. According to Swiss R e (Sigma No. 4/2000) â€Å"In recent years there has been a strong increase in the demand for insurance in the emerging markets. The average annual growth rate in the emerging markets has since 1990 been twice as high as industrial countries in both life and non-life insurance.There is already an indication of slow Roth and saturation of insurance market in industrially developed countries. During 2003, Global Life business witnessed a decline of -0. 8%. However, emerging market life business grew by 6. 6% as against -1 . 7% decline in industrialized countries. In non life business, while industrialized countries achieved 5. 7% growth in real premium income, emerging markets registered 8. 5% growth rate in 2003. However, total premium income of emerging market in 2003, was US $ 314128 million which represented 10. 68% global premium income, whereas share of industrialized countries with US $ 2626542 million representing 89. 2% of global premium. This is an indication of huge potent ial emerging market.Globalization of Financial as well as Life Insurance Market is an inevitable phenomena. In the years to come the globalization of Insurance Market is going to speedup further. The impact of globalization will also be felt more in emerging markets which have exhibited better potential for growth in insurance market. Data provided in Table No. 1 and Table No. 2 shows that countries which have extensively opened up the Insurance 24 Market to the Private and Foreign Companies have achieved relatively better growth in insurance density and penetration. It has also been noted in India that growth of Insurance Market was faster in the post liberation's period than that in pre- Tatterdemalions pergola.However, one AT ten constraints AT Insurance Gallstones Is a small number of global players as noted by UNEVEN (2002). The private insurance industry is largely a national industry rather than a global one. The number of truly global insurance players is in the range of 20 to 30 only. Another 70 companies operate significantly in more than one continent through branches. Only 1. 2% of global insurance premium comes from across border business. C. Impact of Liberation's on Economic growth Research of Bernstein and others (1998) shows that FDA contributes more domestic growth than domestic investment. And also FDA is more productive than domestic investment.Liberation's of capital markets attracts foreign investment which influences the price of equity thereby reducing the cost of capital. Research of Beakers and Harvey (2000) indicated that post liberalized regulatory reforms bring down the cost of capital and also help to increase inflow of capital. Financial liberation's also imparts structural formats of capital markets, improves the closures, transparency and corporate governance which creates growth prospects in a liberalized country. It has been noted that the average per capita income is higher in the countries with more open economic policies a nd better global linkages, than in the countries with less openness in financial sector. Globalization has helped promote convergence of per capita incomes.Per capita incomes have grown faster in globalization developing countries (those lowering trade barriers) than in rich countries – 5 per cent versus 2. 2 per cent in sass†¦Ã¢â‚¬ ¦. Non globalization Developing countries have lagged behind. Finance and Development, March 2002. , UP). Resource (2002) has observed that â€Å"the trend of rising inequality over the past 200 years, primarily between countries, now appears to have been reversed, and the experience of the 19th century suggests that increased globalization will accelerate this decline. Parkas et al (2003) has noted that ‘International Financial Integration can help to promote domestic financial sector development, which in turn can help to moderate macro economic volatility.However, thus far these benefits of financial integration appear to have accru ed primarily to industrialized countries. D. Growth of Life Insurance in India Indian Life Insurance Industry, since nationalization, has registered a significant growth and gradually increased its share in household financial savings. As noted in table 4, the Share of Insurance Funds has increased from 8. 7% in 1993-94 to 14. 9% in 2003-04, while the share of life insurance funds increased from 8% to 14. 5% during the same Banquets – Volvo. V Issue 1, January 2005 025 per 00 Ana In terms AT GAP It NAS Increased Trot I Nils Is a gallants achievement of Life Insurance Industry which till recently represented by LICE of India.Growth in Life Fund is considered to be an important indicator of growth of Life Insurance Industry and as can be seen from the Table 4, LICE has performed exceedingly well. LICE, after nationalization of 256 Life Insurance Companies, started with a Life Fund of RSI. 410. 40 core, which in course of time increased rapidly and stood at RSI. 3,21 ,754 core i n 2004. Similarly, the total assets of LICE has increased from RSI. 463 core in 1958 to core in 2004. High growth of Life Fund and Assets of LICE was possible due to significant growth in New Business, which got a boost during the Post Liberation's period. First time in 1999, LICE sold more than one core (1. 8 core) policies in a single year, however, growth became faster during the post liberalized period and in 2002 it crossed the 2 core mark by selling 2. 25 core policy, which increased further to 2. 42 core in 2003. In 2004, New Business (AS) had gone up RSI 2,02,898. 14 core under 2,69,63,504 policies. Total in force policies serviced by LICE by the end of 2004, stood at 15. 39 core under Sum Assured of RSI. 9,25,033. 33 core. Liberation's of Indian Insurance market has provided further push of the Insurance Industry. By the end of March, 2004, there were 13 Life Insurance companies including LICE in the market, which has not only generated competition but also provided a wide range of product choice to the customers.An overall view of Indian Life Insurance market can be obtained through data released by ERDA, shown in the Table 6 and Table 7. Accordingly total no. Of policies underwritten in 2004 increased by, 12. 78% from 2002-03 to 5 2003-04, while the premium under these policies increased by 51. 80%, from lacks to 18,71 ,016. 02 lacks during the same period. So far LICE is concerned, there is a fall in market share in New Business. In No. Of Policies the market share declined from 96. 70% to 94. 21% while in premium income the market share of LICE declined from 92. 03% to 87. 04% during the same period. These indicate that Indian Life Insurance in general has expanded since liberalizing on the one hand and market has been increasingly becoming competitive. E.India in the International Context Though the share of Life Fund in household Financial Assets has gone up during the last decade and Indian Life Insurance Industry registered better growth rate compared with global growth rate yet total premium volume and global market share minded quite low. Total premium volume of Life Insurance Industry in the World at 9% growth rate increased from US $ 1 534,061 2002 to US $ 16,72514 2003, whereas in India 26 growth rate was much higher at 18% and Total Premium volume increased from US $ s S EYE ruling ten same pergola. Insurance Density (premium per capita and Insurance Penetration (premium in percentage of GAP) which are important growth indicators are quite low in India. In the year 2003, Life Insurance Density in India was only US $ 12. 9 as against the World Density of US $ 267. 1. Similarly, Life Insurance Penetration in India was only 2. % as against World Penetration level of 4. 59%.