Bancassurance Financial Project Essay Example for Free

Bancassurance Financial Project Essay ABSTRACT The business world and specifically financial industry has become challenging and of uncertain business environment in terms of new technology, political dynamics, government policies and advanced human resources. This therefore calls for dynamic leadership that needs to be creative and innovative in creating their competitive strategies. To mitigate these challenges, some firms’ managements have designed management strategies to sustain growth, acquire new businesses or merely mitigate risk facing the business. This proposal considers strategic alliances in financial industry commonly referred to as bancassurance as a business strategy adopted by commercial banks, SACCOs and insurance companies as one of the pursuit of their diverse organizational objectives and challenges. The purpose of this research was to establish if financial organizations such as banks, SACCOs, and insurance companies can mitigate some of management problems such as high loan default leading to high credit risks, switching of customers due to dissatisfaction, declining profits, resistance to buy new insurance products hence minimum market growth among others. To achieve the mentioned objectives, the study used structured questionnaires and personal interviews on a randomly sampled target of 48 participants from banks, SACCOs, and insurance staff within Nyeri County to investigate the effect of this strategy on performance in the current turbulent financial markets. The data was collected and analyzed using content analysis, descriptive measures and correlation analysis. The study found out that, Bancassurance model was a good source of revenues, customer acquisition, and retention and as one of the factors that investors consider before taking the risk of investing in commercial industry. The study also revealed that Bancassurance has very minimal influence on determining the success and speed of compensating business losses, death of insured applicants among others regardless of the existence of the strategic alliances. The study will be of significance to law makers, policy makers, business entrepreneurs, scholars among others.

Ernest Hemingways Life and Image :: History

Ernest Hemingway's Life and Image Ernest Hemingway was born on a July morning in 1899. Born at home in Oak Park, he was raised a conservative with strong values. While his father taught him to hunt and fish, his mother taught him music, her former profession. Though his mother’s music lessons helped him throughout his life, he didn’t particularly enjoy the lessons and spent as much time in the woods as he could manage. Nature became Hemingway’s world, the place where he could go and pull from it the essence of his writing. No matter what happened in his life he could always find refuge in a quiet meadow or a lulling forest. Inspired by nature, Hemingway used it to form a force that became both a backing and almost a character in his books, that would speak to a reader and tell them that a story wasn’t over, simply because it never truly ends. People look back at Hemingway’s life as if it was one of his novels. He is not seen as a writer but as a personage of writing. At a young age of 18, in 1917, Hemingway enlisted as an ambulance driver in World War I, after quitting his job at the Kansas City Star. Hemingway didn’t make it three weeks into his service. While in Schio, Italy, he was injured by an exploding mortar, perforating his legs with shrapnel. In spite of this, it is said that he carried a wounded Italian to a first aid station; this earned him an Italian Silver Medal. For the next year, Hemingway used his insurance from the war to avoid work. He would spend his time at the library or speaking about the war. Eventually he met Harriett Connable while speaking, who saw Hemingway’s confidence and control. Connable asked him to tutor her son. He accepted, as her husband introduced Hemingway to the editor of the Toronto Star Weekly, who he wrote for even when he moved to Paris. While in Paris he covered the Geneva Conference, and the Greco-Turkish War. Hemingway and his first wife Hadley moved back to Toronto though, when she became pregnant. In 1925, two years after his son John was born, Hemingway wrote In Our Time, and a year later The Sun Also Rises. These two novels were great successes, and led to his Farewell to Arms, which is considered by many a paramount to all World War I novels.

Black is Beautiful

No matter how cliche it may be, black people are indeed beautiful. In the sense that black race exists in almost all parts of the world. In addition, their race plays a significant part of the world’s history, as much as the world has been an important part of theirs.The people of various countries contributed a great deal in building black people’s self perception, as well as the impression they project to the society. With all the triumph and misery they have faced, they have developed a thinking that made them stand out. Evident even in their pieces of literature, are their desire to be noted as a powerful race, equal to any other race, and despite the slavery and mockery, they are very proud of who they are. The poem, â€Å"Primer for Blacks†, by Gwendolyn Brooks – the first black poetess who won the Pulitzer Prize – speaks of how being black should be embraced.That it is not merely having dark complexion, but it is also a mind set. Black people should be mindful that their people are equal to those who regard them as an inferior race (Brooks). â€Å"The conscious shout of the slack in Black isâ€Å"It's Great to be white. † Thus all that is white has white strength and yours. † (Brooks) This stanza states that blacks may say that they are also white. It may be interpreted as having gone through suffering, their race rose with the strength and capability that any ordinary white man might have been able to do.Given the same sensibility and abilities, it is but righteous to assert that they are as superior as any other race, and thus should be perceived and accepted as so by the society and more importantly, themselves (Brooks). â€Å"I am a black woman tall as a cypress†¦Ã¢â‚¬ ¦indestructible Look on me and be renewed† (Evans) Another renowned African-American writer, Mari Evans, wrote â€Å"I am a Black Woman†. Unlike Brooks’ poem, which pertained to all black people, Evans poem pres ented all the different aspects of a Black woman’s strength that should be greatly appreciated.Although it pertained to the women of the race alone, it still did not fail to extend the core truths that Brooks mentioned in her poem; that they have suffered in the hands of other races, through slavery and discrimination and yet they stand tall and proud.The hardships of their lives made them invincible and as such are fountains of hope and inspiration that may be an envied by other races (Evans). â€Å"I’ve been a singer: All the way from Africa to Georgia I carried my sorrow songs. I made ragtime. † (Hughes)A third poem that presents the great pride in being black is Langston Hughes’ â€Å"Negro†. Like the two earlier given poems, it spoke of the capability of blacks to survive trying times and to survive it with dignity, a feat that should be acknowledged.It presented the dark times that black people have suffered under different races; how they we re servants even in the earliest time recorded in history and how they remained to be discriminated until the present. However, through the use of irony, the poem was able to share how the blacks remain majestic even under slavery. They have made architectural history during their enslavement in Egypt and they have opened a new genre of music with their woes.These achievements prove that their effort and patience in the time of their bondage, paid off in a way that allowed them to claim that as the night, the blacks will continue to live for another day (Hughes).â€Å"I am a Negro Black as the night is black† (Hughes) Like the night that inevitably comes after day, the black race is going to remain as part of history. All three poems mentioned their contributions in the civilizations of other races. All poems also mentioned the suffering and bondage that they have gone through, all of which bore fruits of goodness to the history of the people that they have served.It also bro ught about good for them in a way that it has shaped them to be the people they are today. The events in the past gave them the right to be proud of who they are.Like metal is served to heat in order to become firm, their race underwent hardships to become the people who can equal any other race. As such, all three poems showed proof that black people should be accepted and embraced. They should not be judged by their color, but by their contributions in life and history.As such, the black race should be perceived with respect – not only by the whites but by all other races – for who they are and for the things they’ve collectively done for the world’s development.Works Cited Brooks, Gwendolyn. â€Å"Primer for Blacks† 1980. Poetry Foundation. 19 February 2009 .Evans, Mari. â€Å"I am a Black Woman† 1970. Mr. Africa Poetry Lounge. 19 February 2009 .Hughes, Langston. â€Å"Negro†. 1920. Amanda A. 19 February 2009 .

Social Responsibility Theory

Social Responsibility Theory To combat the pressures that threatened freedom of the press, this theory was first introduced in 1947 and was recommended by the Hutchins Commission on Freedom of the Press. It stated that the media should serve the public, and in order to do so, should remain free of government interference. It defined guidelines that the media should follow in order to fulfill its obligation of serving the public. Ethics and the Media The Social Responsibility Theory claimed that the media could be self-regulating by adhering to the following precepts: †¢ Media has obligations to fulfill to a democratic society in order to preserve freedom. †¢ Media should be self-regulated. †¢ Media should have high standards for professionalism and objectivity, as well as truth and accuracy. †¢ Media should reflect the diversity of the cultures they represent. †¢ The public has a right to expect professional performance. The proponents of this theory had strong faith in the public’s ability to determine right and wrong, and take action to preserve the public good when necessary. ) The social responsibility does not only fall upon the reporters and producers of media. The responsibility also falls to the consumers to become media literate and maintain high, yet reasonable expectations of the media. In theory, if these things happen, there will be no need for government intervention. The Social Resp onsibility Theory was set forth as the ideal way for the media to conduct business. Over the years since its introduction, this theory has met with much criticism as well as support. It has become the standard for United States media practices. It has also set the standards for much of the currently accepted media ethics. [pic] [pic]Since the Hutchins Commission produced its famous theory, the United States has developed better educated journalists, seen a reduction in news sensationalism and enjoyed more accuracy in reporting. Many journalists are now also advocates for the public and for social issues and reform, getting heir messages out through the media. Read more at Suite101: What is the Social Responsibility Theory? : Written by the Hutchins Commission on Freedom of the Press http://press-freedom. suite101. com/article. cfm/what_is_the_social_responsibility_theory#ixzz0hYd9u8dH Social responsibility Social responsibility is an ethical or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society at large. This responsibility can be â€Å"negative†, meaning there is exemption from blame or liability, or it can be â€Å"positive,† meaning there is a responsibility to act beneficently (proactive stance). Businesses can use ethical decision making to secure their businesses by making decisions that allow for government agencies to minimize their involvement with the corporation. (Kaliski, 2001) For instance if a company is proactive and follows the United States Environmental Protection Agency? EPA) guidelines for emissions on dangerous pollutants and even goes an extra step to get involved in the community and address those concerns that the public might have; they would be less likely to have the EPA investigate them for environmental concerns. â€Å"A significant element of current thinking about privacy, however, stresses â€Å"self-regulation† rather than market or government mechanisms for protecting personal information† (Swire , 1997) Most rules and reg ulations are formed due to public outcry, if there is not outcry there often will be limited regulation. Critics argue that Corporate social responsibility (CSR) distracts from the fundamental economic role of businesses; others argue that it is nothing more than superficial window-dressing; others argue that it is an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations (Carpenter, Bauer, & Erdogan, 2009). Socially responsible Corporate social responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible (SRB), or corporate social performance,[1] is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure their adherence to law, ethical standards, and international norms. Business would embrace responsibility for the impact of their activities on the environment, consumers, employees, communities, stockholders and all other members of the public sphere For each business, different measures are taken in consideration to classify a business as â€Å"socially responsible†. Each business attempts to reach different goals. There are four areas that should be measured regardless of the outcome needed: Economic function, Quality of life, Social investment and Problem solving. [citation needed] that is trying to be achieved should be measured to see if it meets with the cost guidelines that the business is willing to contribute. [edit] Emerging Normative Status of Social Responsibility Social responsibility as a non-binding, or soft law principle has received some normative status in relation to private and public corporations in the United Nations Educational, Social and Cultural Organization (UNESCO) Universal Declation on Bioethics and Human Rights developed by the UNESCO International Bioethics Committee particularly in relation to child and maternal welfare. (Faunce and Nasu 2009) The International Organization for Standardization (ISO) is developing an international standard to provide guidelines for adopting and disseminating social responsibility: ISO 26000 – Social Responsibility. Due for publication in 2010, this standard will â€Å"encourage voluntary commitment to social responsibility and will lead to common guidance on concepts, definitions and methods of evaluation. † (ISO, 2009) The standard describes itself as a guide for dialogue and action, not a constraining or certifiable management standard. Social Responsibility |[pi|Practiced in the US in the 20th century | |c] | |[pi|Purpose is to inform, entertain, sell, but also to raise conflict to the plane of discussion | |c] | | |[pi|Ownership is private | |c] | | The social responsibility theory is an outgrowth of the libertarian theory. However, social responsibility goes beyond â€Å"objective† reporting to â€Å"interpretive† reporting. A truthful, complete account of the news is not necessarily enough today, notes the Commission on the Freedom of the Press: â€Å"It is no longer enough to report the fact [pic]truthfully. It is now necessary to report the truth about the fact. † Today's complex world often necessitates analysis, explanation, and interpretation. As the Commission stated in 1940: The emerging theory does not deny the rationality of man, although it puts far less confidence in it than the libertarian theory, but it does seem to deny that man is innately motivated to search for truth and to accept it as his guide. Under the social responsibility theory, man is viewed not so much irrational as lethargic. He is capable of using his reason but he is loath to do so. If man is to remain free, he must live by reason instead of passively accepting what he sees, hears, and feels. Therefore, the more alert elements of the community must goad him into the exercise of his reason. Without such goading man is not likely to be moved to seek truth. The languor which keeps him from using his gift of reason extends to all public discussion. Man's aim is not to find truth but to satisfy his immediate needs and desires. It is the press, therefore, that must be the â€Å"more alert element† and keep the public informed, for an informed populace is the cornerstone of democracy. Today's large media conglomerates, however, may not function naturally as a public forum, where all ideas are shared and available. â€Å"The owners and managers of the press determine which persons, which facts, which versions of these facts, shall reach the public,† writes the Commission. In this same light, Siebert, Peterson and Schramm warn: †¦ he power and near monopoly position of the media impose on them an obligation to be socially responsible, to see that all sides are fairly presented and that the public has enough information to decide; and that if the media do not take on themselves such responsibility it may be necessary for some other agency of the public to enforce it. The Canons of Journalism, adopted by the America n Society of Newspaper Editors addresses these same obligations when it calls on newspapers to practice responsibility to the general welfare, sincerity, truthfulness, impartiality, fair play, decency, and respect for the individual's privacy. Siebert, Peterson and Schramm also note that â€Å"freedom of expression under the social responsibility theory is not an absolute right, as under pure libertarian theory†¦. One's right to free expression must be balanced against the private rights of others and against vital social interests. † For example, it likely would not be socially responsible to report how the terrorist, using some new method, evaded security measures and smuggled a bomb onto a commercial airline.

Subjectivity versus Objectivity Essays

Subjectivity versus Objectivity Essays Subjectivity versus Objectivity Essay Subjectivity versus Objectivity Essay Humanity has come a long way since the time of prehistory. But throughout our evolution, we have adapted and we have placed importance on various values and characteristics. For example, the most coveted possession even today was money. Earlier, money was not of such great importance. Honor, chivalry and bravery were all a part of what real value was. But we are in a new age, and values can change. Values are one feature of humanity and another is our reason.We have been blessed with the great gift of reason, but is our reason, reason enough? Is there more than just scientific method or logical analysis? Subjectivity and objectivity have come a long way since the time of Neanderthals and even to modern man itself. As mentioned before, humanity has changed and humanity is very susceptible to change. But nothing is without problems. So what is the problematic nature of the distinction between subjectivity and objectivity?Objectivity has no specific definition, b ut if we look at many aspects that incorporate it, we can deduce its meaning. Objectivity basically, has to do with the quantitative branch of things. The greatest example of the amalgamation of objectivity is science. Science through the ages has relied on replicable objectivity. For example, a scientist is trying to investigate the anatomy of a bird. Firstly, for the scientist to study the bird, he has to kill it. Otherwise, he will be unable to study it. Therefore, in order to study it, he has to make a choice. Usually the morality of the situation is quite insignificant. Since the scientist has an objective he must complete that objective. This is an exaggerated example, but it conveys what objectivity implies.Subjectivity is somewhat on the other end of the scale. As with subjectivity, many ideas and elements integrate subjectivity into part of their respective areas of knowledge. The best example of subjective thinking can be considered as religion. Religion has nothing to do with quantity or any sort of empirical analysis. As mentioned before, science relies on objective thinking, which means that it relies on replicable, measurable branches. Subjectivity is more towards the individual itself. It incorporates aesthetic, cultural, etc tendencies.Basically, subjectivity can be said to be thinking qualitatively. Taking the example of the scientist studying the bird, the main question the scientist comes across is Should I kill it? The scientist, in order to know the anatomy, has to dissect the bird. He has to study the physio-chemical dimension in order to know. But in the laboratory, the scientists feelings cannot be isolated and thrown away. The scientists gut feeling is great enough that can take him away from his objective, he is able to do so. That is subjective thinking; based on the quality not the quantity.Objectivity, as mentioned before, has to do with quantitative thinking. Science uses this quantitative thinking in relation to all its questions . One must consider and notice that all scientific questions have to do with empirical and quantitative analysis. For example, if a man passes a woman whom he loves, science would describe that feeling as a rush of blood to the cheeks, an increase in output of hormones, etc But can we describe love quantitatively? This is one of the many limits of objectivity. When we talk about science, we refer to the empirical nature of science. Empirical means variables that can be controlled.Can the amount of love that one feels be controlled as science says it can? This really cannot be controlled as love lies in the qualitative dimension. In order to be objective, we need to measure. And love is something that certainly cannot be measured. If we relate this to a greater extent, in terms of life, we cannot measure life. Life is not a quantity that can be experimentally deducted. At the level of life, you cannot control all the variables. In the scientific method you can, maybe, control heartbe at and pulse but never life as a whole. In itself, this is a great limitation.Subjectivity by itself is not enough in the knowing process. Objectivity is required if we are to truly know. A characteristic of objectivity is the fact that it arises from subjectivity itself. Subjective thinking has been the basis for the knowing process for thousands of years and only in the modern age has objectivity arisen. Religion in the past is hardly different from religion today with subtle differences in peoples faiths. Faith today is the only thing that is different in religion from the past. Religion emphasizes the question of what is most true. Basically, in order to know God, you cannot study holy scriptures and manuscripts. The real way to know God is to experience what and who God is. It does not involve endless of hours of studying, but of devotion. Through true devotion to God, one can truly know Him.We know the problematic nature of subjectivity and objectivity. Subjectivity is the bas is for objectivity so it is only natural that objectivity is not everything. In the modern world, people see science as the only form of knowledge because it can explain our universe, our world and us. But the limitation of science is that it can only explain these things at the physio-chemical level. What about the mind? Can science explain love in more than terms of biology? We know that it cannot and that is one of the main limitations of objectivity. To truly know, we must be objective and at the same time experience and embrace the knowing process. Experience in itself will teach us things that are dormant.

Business Ethics Essay Sample

Business Ethics Essay Sample Essay about Business Ethics The Merriam-Webster online dictionary defines ethics as â€Å"the discipline dealing with what is good and bad and with moral duty and obligation.† The dictionary also offers another definition of the term as, â€Å"a set of moral principles or a theory or system of moral values.† In short, ethics is simply man’s moral codes or values. Because of ethics, man has been able to classify some actions and activities as good and others as bad, fair and unfair, just and unjust, proper and improper, as well as moral and immoral. Just like men, businesses are also guided by a set of principles which help to make sure that organizations are accountable to their employees, the government, the environment, and finally the public or the society. Businesses are not independent of the law and just like people are bound by the law, they are as well and are expected to fully honor the statutes. While people might think that organizations are about making profits, it is essential to note that they are expected to do so while functioning within the set principles. However, it is important to ask, what does business ethics involve, and how can businesses remain ethical and still be profitable. The above questions form the basis of this article, and the author will provide details of what business ethics entail while also explaining how businesses can remain ethical while still aiming for their ultimate goal of attaining the highest levels of profitability. Business ethics simply involves conducting business activities with a human touch for purposes of giving welfare to the society. First of all, it is important to understand that businesses are obligated to their employees in that they are required to make sure that their employees are well paid, protected, and are working in a conducive environment. Businesses are also obligated to the government in that they are expected to always adhere to the law, explore within the confines of the law, and finally, forward real figures that truly reflect the profits made. It is also upon a business to make sure that the clients are treated with respect, and that the goods and services being offered are harmless, and of high-quality. Secondly, business ethics also involves accepting and abiding the relevant codes of practice that guide and dictate behavior in the specific sector a business is in. Governments and other international bodies often expect businesses to conduct themselves as per the codes of the specific industry they are in. For example, it is the expectation of the government that banks will always abide by the set rules and also never try to sabotage the economy of the country. Each sector has its own set of rules which are punishable if breached. The general expectation is that all organizations will respect their respective umbrella industry and fulfill their promise of compliance. Finally, business ethics also details an organization’s accountability or responsibility for the effects or the impacts of its decisions either on the environment or the community. The above can simply be summed up as corporate social responsibility. Nature dictates that with every action there is an ensuing reaction and every decision a business makes often has a definite impact on the community or the environment. With regards to business ethics, every organization is, therefore, required to act responsibly and to be accountable to the society as well as the environment. In conclusion, without ethics, business would not be held liable to any of their actions. Business ethics form the basis of organizational behavior and therefore, their inception was essential.

Strategic Change Context Essay Example | Topics and Well Written Essays - 250 words

Strategic Change Context - Essay Example (Grant, 2010) This way, an organisation can constantly monitor and examine the change under implementation. It helps to visualise the change a process rather than a fixed and controllable transition of events. (Grant, 2010) A force-field analysis is a tool that helps in determining, analysing and evaluating the various forces that stand for or against a proposed change. The use of this technique helps in offering alternatives to propel the decisions towards the desired change. (Lynch, 2008) With the knowledge of these forces, an organisation possesses information to amend the identified loopholes in the change process. In addition, all efforts are put in the task of pushing towards the achievement of the intended organisation strategy. (Wickham, 2008) Meg Whitman, as the overseer of the change in the declining organisation was to examine the extent of the change needed in terms of the depth, superficiality and whether the change should be transformational. In the implementation of change, Meg had to find out what was working and what was not. The manager is seen to exercise this element of change by eliminating the resources that tended to bar the interaction of the