Insights as a Treasurer Free Essays

Insights as a treasurer Being bestowed upon me the task to collect and protect the fund of our club is tough and keeping it safe from corruption and theft a lot tougher. When making difficult decisions to the whole group, I must consider being prepared and clear- minded all the time for me to be able to make decisions for the good of the many. This task serves as a training for me to be ready and aware on what will need to do when I reach the stage when I will support my in the future. We will write a custom essay sample on Insights as a Treasurer or any similar topic only for you Order Now This will be the start in which I can show my classmates and teachers that I can be trustworthy to whatever they want me to accomplish. Even being confronted with the temptation of wealth and riches, this time I can prove myself that I can be trusted In little things as well as the big things. I am glad that I’ve served my classmates well and in five months that Vive been doing this Job, encountering problems are inevitable but with the help and purport of my classmates, I managed to hold on do the Job the right way. Paul John Man-on SITS Club Treasurer Insights as a treasurer Treasurer tough and keeping It safe from corruption and theft a lot tougher. When making 1 org and riches, this time I can prove myself that I can be trusted in little things as well as the big things. I am glad that Vive served my classmates well and in five months that Paul John Man-on SITS Club Treasurer How to cite Insights as a Treasurer, Papers

Vitamin Water free essay sample

History and Introduction In the early 1990’s, when Manhattan was hit by water contamination, Bikoff set out to buy bottled water and found that except for the brand name, there was very little difference between the different brands of bottled water sold. Bikoff was looking for additional nutritional value rather than plain water. Finding none, he started conducting an in-depth study about different companies making bottled water. He found that he could use vapor distillation to create an alternative to bottled water. Bottled water was generally procured from springs and contained some dissolved minerals, which could be removed using vapor distillation. Bikoff then came up with the idea of starting a company that could offer a healthy alternative to soft drinks and plain water. He decided to name the company Glaceau; a combination of the words glace (ice) and eau (water) which signifies clean water. Bikoff started the venture in the year 1996, from his father’s office in Queens, New York. He worked with RD professionals to develop the company’s first product Glaceau Smartwater, which was sourced from glacial aquifers in Connecticut, vapor distilled, and supplemented with electrolytes. With his previous expertise on packaging, he asked his team to design a 20 ounce bottle instead of the conventional 16 ounce bottle. Another unique aspect of the bottle was its sport cap. With the popularity if the packaging, several beverage manufacturers started using caps on the bottles. Bikoff then got the bottle redesigned and the bottle was made available in half liter, one liter, and one and a half liter sizes. The next product was Fruitwater, introduced in 1999. This was Smartwater with the added flavor of fruits and it was sugar free. Fruitwater was the first non0carbonated water with a fruit flavor. The water was subjected to pasteurization due to which it had a long life though no preservatives were added. Fruitwater was available in several flavors including watermelon, mint, pineapple, and guava. It was in the year 2000 that Bikoff realized the potential of water enhanced with vitamins. What sparked the realization was a tiring yoga session after which he had a drink of water along with a Vitamin C wafer. The water-Vitamin combination proved extremely refreshing and planted the idea of water enhanced with Vitamins in his mind. To devise the formula for water with vitamins, he started working on the product along with a team comprising a dietician, a microbiologist, and a food scientist. Bikoff felt that the name should reflect the fact that the product was not merely water but water with additional vitamins and nutrients. It was not long before he realized that he was creating a new category of product known as enhanced water. It’s is defined as a category based on delivering value-added nutritional benefits in a hydrating beverage, so that people can drink more water with more usage occasions. Once the products were ready, the challenge was to get shelf space from vendors. These were problems in distributing this product through major retailers, as they were not willing to give expensive shelf space for new products. There were several small retailers who were ready to try out new products. These retailers were highly impressed by the fact that Bikoff was delivering and promoting the products himself and it was they who gave him a chance. By initially targeting smaller stores, the company built up demand. The product’s unusual appearance and unconventional packaging attracted the customers. Initially companies like Pepsi and Coca-Cola dismissed the Glaceau product as a passing fad, but with the product gaining popularity and outselling their products like Dasani and Aquafina they were forced to take notice. In 2002, Coca-Cola introduced fortified water, Dasani Nutriwater, and Pepsi came up with Aquafina Essentials. However, neither of the two did well in the market and both products were later discontinued. By 2005, Glaceau’s products were being sold in all the 50 states in the US. The sales had grown 80 percent from January 2004 to January 2005. As of 2005, the company was selling around two million bottles per day, with VitaminWater accounting for 75 percent of total sales. Furthermore, in 2006 PepsiCo Inc. announced that it had agreed to change the packaging label, and cap of its SoBe Life Water, after the settlement with Energy Brands Inc, maker of Glaceau’s range of enhanced water products. In April 2006, Energy Brands Inc. ad filed a lawsuit against Pepsi, alleging that SoBe Life Water’s packaging label, and cap were similar to those if Glaceau’s VitaminWater and that Pepsi intended to confuse the consumers with its new packaging. Pepsi had resorted to trade dress infringement and dilution and its label and bottle resembled that of VitaminWater. It was also alleged that Pepsi had launched SoBe Life Water after it failed to acquire Energy Brand in early 2006. The lawsuit and its subsequent settlement indicated the growing insecurity of the soft drinks majors, which were facing threat from companies promoting healthy alternatives to soft drinks. Energy Brands, the parent company of Glaceau, was one such company, which advocated healthy living through low-calorie, low-sugar drinks, and non-carbonated water with additional nutritional supplements. Glaceau’s line of enhanced water products comprised VitaminWater, Smartwater, and Fruitwater. Energy Brands was credited with created a new category of drinks popularly known as â€Å"enhanced water products. † Inventory Research Identify all brand elements for product and services The main brand elements are brand names, URLs, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage. Affiliated brand names: Glaceau =gt; Coca-Cola =gt; VitaminWater URLs: http://www. vitaminwater. com/, http://www. coca-cola. com/, www. drinkbetterwater. com Logos: VitaminWater is considered to have a strong word mark; no accompanying logo aside from the name. The word â€Å"Vitamin† is in bold letters whereas the word â€Å"water† is in normal font. Spokespeople: 50 cent, Kelly Clarkson, Shaquille O’Neal, Tracy McGrady, Brian Urlacher, David Ortiz, Kasey Kahne, Donovan McNabb, Ladainian Tomlinson, David Wright, Gilbert Arenas, and Allen Iverson. Slogan: â€Å"it works† is the slogan shown on the label of the product. Each spokesperson has their personalized slogan that essentially sets them apart from one another. For example: Shaquille O’Neal has a slogan which is â€Å"diesel power† whereas Allen Iverson’s is â€Å"the answer’s answer. † Packages: The packaging contains bright colors to enhance the Vitamin Water logo. The colors used on the bottles compliment the various colors of the liquids themselves. Flavors: Vitamin Water comes in fifteen different flavors and varieties. Each product contains a different combination of vitamins and minerals, which the company claims are beneficial for things like energy, balance, endurance, and focus. Flavors include Dragon fruit, Tropical Citrus, Fruit Punch, Lemonade, Kiwi-Strawberry, Orange-Orange, Grape, Raspberry-Apple, Green Tea, Peach-Mango, Lemon Tea, Cran-Grapefruit, Jackfruit-Guava, Lemon-Lime, Acai-Blueberry-Pomegranate. VitaminWater Mind Map Trendy The brand, Vitamin water is perceived as a trendy drink. The product it known for its wide mouth, bright color-coded labeling and vibrant designs. The Vitamin water site also takes the branding to the next level by bundling each flavor with its own expressive animated image. Healthy According to the nutrition facts on the bottle, the product contains 98% water and 2% sugar. The extremely small amount of sugars is added through the natural fruit juices that are included in the ingredients to increase flavor. The product also markets the high amounts of electrolytes used to purify its water. Entertainment The company Coca-Cola was able to continue marketing the product through the use of celebrity tie-ins that allowed the customers to personalize each flavor by associating a celebrity with a flavor. The technique exemplified brilliant brand marketing. High Quality In the market, this product is considered to be a luxury item. Energy Brands is the parent company of Glaceau water products, which sells water under the labels VitaminWater and SmartWater. The use of bright vibrant colors is one of the marketing tools used by the brand in order to reflect the refreshing quality of the product. 50 cent rapper The grape flavor Formula 50 vitamin water is 50 cent’s custom-made flavor with 50% of his daily choice of vitamins; therefore is specialized for those 50 cent fans. The grape-flavored drinks label reads, inspired by todays most talked about artist, hottest record producer, and soon-to-be movie star, this not-so-hypnotic tonic contains 50 percent of many of the important vitamins that you need every day. Variety 50 cent is currently promoting the upcoming increase in the variety of flavors from 15 to 50. The product line already includes flavors such as Power C, Energy- Tropical, Revive, Multi V, Focus, Essential, Formula 50, Defense, Rescue, Endurance, Vital-T, Balance, B-Relaxed, and Charge. Innovative The vitamin water bottles are especially designed in mind to fit-in-your-hand with ease. Each flavor offers a different taste experience for the new generation of bottled water lovers. Coca-Cola is known for its innovative platforms and by adding this new product to its line enables the company to capitalize on recent health and wellness trends. Coca-Cola With Coca-Cola’s recent purchase of Glaceau, the company obtains additional credibility, potential customers, and an enlarged distribution channel through its new affiliation with the Coca-Cola brand. Through the use of these elements where is the brand positioned? Through the use of these elements the brand is positioned as trendy, innovative and entertaining mainly due to its unique graphics and imagery. Furthermore, when visiting the VitaminWater site it supports the company’s brand positioning; revealing a rather smart site, which opens on colorful splash pages. The site is based on Flash technology; it enhances the brand with a multicolored organ producing different tunes when the mouse passes over VitaminWater bottles. The sites branding is perfectly aligned with Glaceaus brand positioning. It has the same look, same attitude, and same voice. Similar to label packaging, the text is full of confidence. VitaminWater states that â€Å"one sip, swing or gulp may result in boycott of other beverages. † Color use is bright and vibrant, reflecting the refreshing quality of the product. The label maker is a cool feature, which again nicely reinforces the brand and allows VitaminWater to both collect information about its visitors and plumb for free ideas. Visitors can take a shot at making their own label of a vitamin drink complete with attitude, colors and minerals. To view your label, you have to supply an email address, giving the brand managers access to a mailing list of interested consumers. Glaceau provides an excellent example of website development aligned with its brand positioning. Rather than being a display of technological know-how, the Flash technology is deployed here to enhance the website and further promote the brand as trendy, innovative and entertaining. Exploratory Hierarchy of the Brand Survey Results (See Appendix) We developed a ten question survey in which we disseminated through email to our peers to assess the strength of Vitamin Water as a brand. We paid particular attention to the consumers’ knowledge of specific brand attributes such as the spokesman and number of flavors. The survey was limited to 10 questions to ensure participation and valid responses. There were 40 respondents to our survey, and there were only 3 questions in which all 40 participants did not answer. Even so, for those 3 questions we still had 39 people respond. This means there was a response to 99% of the questions asked. We purposely did not ask demographic information since we only gave the survey to our peers. Although this may appear to have skewed our results, we felt that since our peers are in the target population for Vitamin Water’s core marketing efforts, our conclusions are valid. Additionally, we did not generalize any of our conclusions for the total population. Question Analysis 1. 60% of respondents are very familiar with Vitamin Water. Only Gatorade had a higher number of respondents who said they were very familiar with the drink at 85%. Aquafina also had 60%, or 24 respondents say that they very familiar with the drink. However, Aquafina had a higher rating average than Vitamin Water meaning that overall more people are familiar with the brand. Still, Vitamin Water is doing fairly well in the category considering that no one said they had never heard the drink before. 2. When asked to rate Vitamin Water based on knowledge and what they’ve heard about the brand, most respondents gave the drink an excellent rating. In other words they rated the brand a 4 out of 5, second only to Gatorade. Again, no respondents gave the brand a poor rating, and only 2 didn’t know enough about the brand to give it a rating at all. . Many of the respondents thought that Vitamin Water was the newest drink in the category, which was wrong. Sobe Life Water is the newest drink, but this lets us know that Vitamin Water is doing a good job of keeping its brand in the mind of consumers rather than letting a new drink capture some of its market share. 4. While most people did choose â€Å"enhanced water â€Å"whe n asked what category to place Vitamin Water, we feel that enough people answered other choices to conclude that generally there isn’t a strong association between the two. Considering the other answer choices on this question, many respondents may have chosen enhanced water through the process of elimination. As the brand inventory showed, people associate the drink with multiple categories because of the many different types of branding. 5. No one was able to recall that Brian Urlacher is a spokes person for the brand. This may mean that Vitamin Water is paying him for no reason, or it could mean that he is just not the person to reach the target population for survey respondents. On the other hand, Kelly Clarkson wouldn’t be considered the best fit for a spokesman to reach our target population either, but a number of respondents recognized her as a celebrity endorser of the brand. Clearly 50 cent is the most recognizable spokesman for the brand. There is an overload of celebrities in the industry endorsing so many different products that people get lost. If people are associating the wrong person with your brand it might affect your image. This is where Vitamin Water runs into a problem. Having too many spokes people for your brand confuses consumers and they don’t get a true image association. . Most respondents knew that Coca Cola was the parent company of Vitamin Water. This is most likely due to the highly publicized sale. This publicity was very good because it increased awareness of the brand. Since Coke is such a strong brand, it is very beneficial for Vitamin Water to associate its self with the brand and company. 7. Most respondents co rrectly identified Vitamin Water’s distinctive characteristic: each flavor has a different set of vitamins. However, just as in question 4, we feel that many respondents may have chosen the correct answer through the process of elimination. A quarter of the respondents identified incorrect characteristics with the brand. We believe that this is a sign that the company isn’t effectively distinguishing themselves from their competitors when it comes to brand attributes. 8. 67. 5% of respondents have tasted Vitamin Water before. 25 of the 40 respondents gave comments about what they thought about the drink. Most of the comments were favorable, and there was only one very negative comment about the taste. Many consumers said that they thought the drink was â€Å"Ok. † 9. People don’t know that there are 15 flavors of Vitamin Water offered. Only 3 respondents (7. 7%) knew that there are 15 flavors. Although we did not get to ask the question, chances are that most respondents haven’t visited the brand website because all 15 flavors are vividly displayed. The problem is that no one sells all 15 flavors (as discussed in the brand inventory). This is a differentiating characteristic of the brand and consumers don’t know about it. If variety is what sets you apart and people don’t have access to it, it doesn’t help the brand. 10. The last question tells us that most of the respondents have purchased Vitamin Water before, which is very good. We would have liked to get into brand loyalty and find out who purchased Vitamin Water a second or third time. There were some people who have tasted the brand but haven’t purchased it yet. This could be due to price or just due to the fact that they didn’t like the taste. Gap Analysis While the brand seems to be doing pretty well, we have determined that there are some gaps in the company’s message which will affect Vitamin Water’s image in the future. The main hindrance we see with the brand is its consistency. It’s very difficult to tell what type of image the brand wants to have because they use so many different spokes people in commercials and advertisements. Consumers aren’t getting a consistent message about the image of the brand because they are seeing everyone from athletes, to actors, to singers. For the first couple of years after a new product release it’s important not to confuse consumers. For instance, now we see well known actors in Hanes underwear commercials, but in the past it was just Michael Jordan. Another reason consistency is such an issue with Vitamin Water is because consumers don’t know exactly what type of drink it is. When Vitamin Water hit the market it made its own category, â€Å"enhanced water. † Most consumers don’t even know what enhanced water is. This is where associations can be very useful. Some of Vitamin Water’s top competitors such as Crystal Light, Gatorade, and Crystal Light are very particular about the type of people that are associated with their brands and making sure that there are consistent associations. Crystal Light. Gatorade is has defined its self as a sports drink. The company understands that people may drink Gatorade at other times, but that is their niche so they only feature athletes in their commercials. Red Bull doesn’t use athletes from main stream sports such as basketball, football, and baseball because they pay particular attention to the brand image they portray through the use of extreme sports and activities deeply rooted in culture. Branding Strategy Vitamin Water has tried to market its self as a â€Å"Lifestyle† drink. This has worked thus far because the drink is new and there’s not a lot of competition. The â€Å"Lifestyle† category may work in other product categories such as clothes and shoes where there is such a thin line between categories. For instance, plenty of people by athletic apparel and wear them as every day clothing. However, in the beverage industry it’s necessary for a brand to distinguish its self by selecting a more specific segment of the market. Recommendation and Implementation We recommend that Coca Cola pick a specific market for Vitamin Water and concentrate its marketing efforts toward that category. This will help them to obtain a consistent message in their marketing strategy and advertisement. The most logical options for further segmentation in the beverage category for Vitamin Water are health, sports, and energy. Health- The name of the drink does imply that it’s healthy, but we don’t recommend that Vitamin Water take that association any farther. Being healthy isn’t one of the most important factors in choosing a drink for Vitamin Water’s target market. Young, hip individuals are more concerned with the way a drink tastes and added benefits. Sports- The only drawback we see with having Vitamin Water in the sports drink category is that there are so many competitors is that specific market segment. Energy- We recommend that Vitamin Water develop its marketing and branding strategy as an energy drink. Vitamin Water contains ingredients such as vapor distilled, deionized water, taurine and crystalline fructose, all ingredients that are seen in other energy drinks. Coca-cola should focus on establishing the drink as an energy beverage opposed to being a health drink. Advertising its flavor as energy enhancing beverages will fit more closely with its endorsers and the â€Å"Lifestyle† branding. Rappers and singers do need energy to perform, so Vitamin Water using 50 Cent and Kelly Clarkson as spokes people makes sense. While athletes also need energy, we recommend that Vitamin Water cease its contracts with athletes such as Brian Urlacher and Peyton Manning. These associations may confuse consumers into thinking that Vitamin Water is a sports drink. Other recommendations for Vitamin Water include cutting back on the number of flavor options it offers and the number of people that they use as endorsers of the brand. The company should implement new flavors slowly.

The Issues in RACQ Insurance

Executive summary Royal Automobile Club of Queensland (RACQ) Insurance Company suffers a serious issue in realising successful operation. The senior management team of the company is at the forefront when dealing with disruptions and challenges that hinder effective operation.Advertising We will write a custom report sample on The Issues in RACQ Insurance specifically for you for only $16.05 $11/page Learn More RACQ is well capable of managing its risks, since risk management is its chief agenda. The company has been adversely affected by changes in the social, monetary, and environmental backgrounds that have taken place around the globe in the recent years. Several of the changes took on a higher level of intricacy after the economic crisis of 2008 and international monetary decline. This paper discusses the aspects that led to this issue, which consist of placing the clients of RACQ at the core of its operations, the requirement for the company to adm inister capital and risk coupled with combining sustainability aspects in its chief processes and functions. The knowledge of customer needs coupled with positioning these needs at the heart of all operations is a fundamental business value for the success of any insurance company in the world. With the standing of RACQ worsened by the 2008 monetary crisis, the company should consider rebuilding customer confidence. In a report, Dr. George Hopkins, the Chief Executive Officer of the company, is quoted admitting that RACQ must take note of the requirements of its clients particularly now that several of them suffer insecurity due to the financial crisis. The development of competitive products is a continuous challenge for RACQ. However, the inventiveness of the company to discover new techniques of managing risks and pricing them strategically so that both customers and the company benefit has been at the heart of this company for years.Advertising Looking for report on busines s economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In RACQ, the senior management identifies the meaning of working effectively and competently carrying out operations in an orderly way with lowest dissipation to generate the proposed outcomes. Optimised functioning is a requirement for enhanced business operations, more competent handling of allegations, decreased costs, advanced competitiveness, greater profitability, and higher shareholder value. In distressed economic markets, upholding capital stores and achieving reputable proceeds on investments of proprietary and clients is a difficulty task and frequently an insurmountable challenge for RACQ. This paper also focuses on Strategic Human Resource Development (SHRD) plan that Royal Automobile Club of Queensland Limited should employ to curb this issue. A number of recommendations, implementation, and evaluation for the senior management of RACQ are given at the end of this paper. F or instance, RACQ must join hands with the government to boost the confidence and loyalty of customers in the company and as well develop fiscal literacy. With the creation of superior and beneficial judgments concerning the effective operations of RACQ, this move will be a confirmation that the company engages its clients excellently and has carried out the essential recommendation steps. Several of the judgments that senior management and HRD experts of RACQ formulate when carrying out HRD evaluations might carry ethical issues. Ethical issues entailed in this evaluation of HRD are confidentiality and application of deception.Advertising We will write a custom report sample on The Issues in RACQ Insurance specifically for you for only $16.05 $11/page Learn More Introduction Royal Automobile Club of Queensland (RACQ) Insurance Company experiences a key issue in effective operation. The risk carriers, risk managers, and key investors of the company are at the forefront when dealing with disruptions and challenges that hinder effective operations. The task of RACQ is to bring some certainty, manageability, and steadiness in what is conventionally a messy world. The monetary, social, and environmental transformations that have occurred around the globe in the earlier decade have been arduous for the company. Numerous of those transformations took on a higher level of intricacy after the 2008 economic crisis and international monetary decline (Bekiaris, 2006, pp. 98-101). In a bid to address this issue, this paper discusses the aspects that caused the problem initially. This paper also focuses on Strategic Human Resource Development (SHRD) plan that Royal Automobile Club of Queensland Limited should employ to counter this issue. The SHRD involves concentrating on the tasks that analytics of RACQ must carry out in assisting the company overcome the issue of its operation. This paper targets the senior management team of RACQ to assist it acquire better awareness into the issues at hand and how to address the same (Ryder, 2006, pp. 66-69). Positioning Customers at the Centre The knowledge of customer needs and positioning them at the heart of all operations underscores fundamental business values for the success of any insurance company in the world. This matches the contemporary equivalents of what earlier cohorts of senior managers understood as â€Å"the client is king† in addition to â€Å"the client is at all times right†.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, merely because consumer-centricity has been identified for a long time as a vital element in defining success of businesses does not imply that companies are excellent at it (Pokrajac, 2011, pp. 6-9). For instance, RACQ should do more to position its clients at the heart of its operations and must work hard to remain in line with this principle. The endeavour is worth undertaking since the rewards thereafter merit the efforts employed. By positioning clients at the centre, RACQ will improve the loyalty and confidence of its customers (Peterson, Roberts, 2011, pp. 29-76). This undertaking will sequentially give rise to increased sales returns, higher revenues, and eventually improved shareholder value. In the year 2009, a report from the Insurance Industry Working Group (IIWG) stressed on the importance of insurers involving their clients in a move to position customers at the centre of companies’ operations. With the status of RACQ worsened by the global economic cr isis of 2008, the company should rebuild customer trust (Introducing Anziif Committees, 2010, pp. 46-47). Dr. George Hopkins, the Chief Executive Officer of the company, stated that RACQ must take note of the needs of its clients particularly now when numerous of them suffer uncertainty due to the 2008 financial crisis. Developing Competitive Products The development of competitive products is a continuous challenge for RACQ (O’Brien, 2004, pp. 48-50). Nevertheless, the inventiveness of the company to discover new techniques of managing risks and pricing them strategically so that both customers and the company benefit has been in place for quite some time now. Development of competitive products is a perpetual practice. RACQ cannot be contented coupled with depending on the products at hand; on the contrary, they have to innovate endlessly, not simply to be in motion with market transformations, but also be ahead in the market if achievable. Insurance companies that are effe ctive in assisting policyholders become weather-resistant and weather-responsive and eventually become weather-profitable (Kalamaras, Rando, Pitchford, 2006, pp. 439-441). RACQ faces a challenge in assisting individuals and groups to transform and become weather-resistant by giving them insurance against weather-changes-associated incidents like floods and storms, coupled with assisting the government become weather-responsive by offering insurance to renewable energy schemes and attempts to decrease emissions of greenhouse gases. On the other hand, RACQ puts immense significance on providing customers with an extensive and new variety of products for security savings and venture. RACQ continually studies the market with the intention of establishing new products and developing its product contributions. In so doing, the company stays competitive and offers its clients product resolutions that can befit their various financial objectives and insurance requirements (Delpachitra, 200 8, pp. 137-147). RACQ is as well committing much time to building up comprehensible products like car loans, car hire, and car insurance just to mention but a few. This move follows earlier complaints from its customers that the diction used in a number of its policies was extremely intricate. Regardless of the encouraging impressions that RACQ present in its reports, a recently conducted survey illustrates that several participants, of whom three-quarters represented their customers, believe that RACQ has poor standing as regards development of competitive products. A participant stated that there were presently very few new products in broad insurance and reinsurance schemes. In addition, a different participant affirmed that RACQ was cumbersome, sluggish, and not particularly inventive. In general, participants considered that if not addressed, the issue facing RACQ and other companies would hold back development for competitive products and make the insurance industry more expos ed to rivalry mainly from banks (Turner, Guilding, 2011, pp. 89-94). Enhancing Functional Efficiency Senior management in RACQ recognises the significance of working effectively and competently executing operations in a systematic way with lowest wastage of resources to generate the proposed outcomes. Optimised function is a requirement for enhanced business operations, competent handling of allegations, decreased costs, advanced competitiveness, greater profitability, and higher shareholder value. Earlier in the year 2011, RACQ made an impressive judgment to revolutionise its business operations and set off on a series of transformational projects. This move created quantifiable enhancements across every region, but the task is far from complete. The functional capacities must be founded on four strategic foundation stones, viz. functional change, profitable development, people administration, and consumer-centricity. Functional change signifies the designed and methodical progres sion of implementing, centring on clients, efficiency, and competence (Armstrong Paolucci, 2010, pp. 521-538). These might be the true basics on which to construct, but RACQ does not feign it is a straightforward undertaking. Keeping Strong Capital arrangements and Good Profits In distressed economic markets, upholding capital stores and achieving reputable proceeds on investments of proprietary and clients has been a hard and frequently unrealisable challenge for RACQ. RACQ has undertaken three strides from the economic catastrophe and financial decline. Foremost, its capital sources have suffered exhaustive drawbacks like lesser returns and lesser-kept profits, liquidity claims, scarcity investors, little rates on interest, and a decrease in the rate of securities, possessions, and other benefit classes. Being at a position of less capital intimidates solvency spots of RACQ and its capacity to satisfy the claims of its customers, renders its to the threat of regulatory nonconform ity with capital sufficiency rules, and makes it more difficult to write new dealings. Secondly, its investment selections have lost worth (Swanson, Hume, Hutcheon, Scott, 2012, pp. 18-22). Thirdly, the venture of the clients of RACQ depreciated and assets have as well depreciated giving rise to disgruntled customers. Strengthening Risk Management The instability in the economic markets extended the handling of risk by the policies and progressions of insurance companies (Bianchi, Ebner, Korherr, Ubl, 2011, pp. 88-106). They held up well compared with those of banks, but their review and strengthening occur in all key areas where appropriate. Every approach of handling of risk should be extensive (Connelly, Paolucci, Butler, Collins, 2010, pp. 3-14); that is, every approach has to be devised at the centre, incorporated across the company, and executed by the leaders of every business line. Recommendations Activity Objectives Target participants RACQ must join hands with the government to set up a more client-focused advance, not just to boost the confidence and loyalty of customers in the company, but also develop fiscal literacy. To place customers at the centre of operations Government Senior management Customers Work together with the government to permit the private sector to handle a number of risks primarily covered by the public sector, which include pensions, medical care, and unemployment assistance. In so doing, the private sector (RACQ included) will lessen the load on taxpayers and public sector (Atkins Reid, 2012, pp. 24-27). To offer a beneficial source of fresh business to the company Government Private sector Senior management Customers Assist individuals and groups in transforming to ‘weather-resistant’ by giving them insurance covers against weather-change-associated incidents like floods, storms, and famines and assist the government and organisations become ‘weather-responsive’ by offering insurance to renewable energy schemes and attempts to decrease emissions of greenhouse gases. To discover competitive products of managing risks and price them strategically so that both customers and the company benefit Senior management Government Customers Devise ways to measure risks, operational performance, as well as other investment-specific assessments and report to senior management for required action to be carried out (Hogg, 2012, pp. 30-32). To strengthen risk management Senior management Risk experts Develop quantitative software that can offer integrated and all-inclusive administration of data. The senior management should implement strong extrapolative analytics, customer-friendly self-service accounting, and a transparent setting to allow the risk experts manage the whole practice (Keneley McDonald, 2007, pp. 278-299). To attain excellent risk management Senior management Risk experts Customers Implementation Activity Target date Participants Required resources Dura tion For the customer-centric approach to bear benefits in terms of enhanced loyalty, returns, and profitability, business analytics in RACQ must play a key task in this regard by assisting the insurance company collect more precise information regarding its customers. Nov 2012 Business analytics Customers Improved customer intelligence to assist in intensifying client insights, designing consumer interactions, and constantly advancing concerning operating performance 5 months Comprehend past undertakings to gain awareness into what clients will need in the in future and assist RACQ gain awareness into the attitudes, conduct, productivity, and risk of customers (Wilkins, 2010, pp. 336-348). Jan 2013 Business analytics Customers Information from customers Performance prototypes of the excellent and nastiest customers 1 year Make use of an underwriter to the company’s data with the aim of assessing the anticipated losses and expenditures. This will help RACQ in computing the premiums required to cover up costs and avoid adverse choices. Jan 2013 Auditors Business analysts Data from records of RACQ 1 year Recognition of key conducts, the geographic position of the customer, frequency, and monetary assessment (RFM) counts for customers, coupled with tracking the efficiency of any particular marketing operation, and suggesting how to change advertising expending and promotion content (Carmona, 2012, pp. 12-16). Jan 2013 Business analysts Internet Website 6 months Evaluation RACQ should use a computer-based approach with the help of its employees. During a talk with clients, or from filed documents by customers, the information and feedback should be keyed into the system. Eventually, the information and feedback from customers will be merged with the data from other distribution conduits to construct a single customer outlook. After the senior management team creates smarter and beneficial judgments about marketing, this will be a confirmation tha t the management understands clients and has carried out the necessary recommendation steps. Another way of evaluation is the use of SAS, whose success will be marked by an inclusive enterprise data management atmosphere, integrating every kind of data to permit analyses with the interpretation of both structured as well as unstructured data like text messages, visual information, and electronic mails. The final evaluation is the assessment of business solutions by business analysts. A move in the right direction is indicated by attainment of higher profits, improved client relationships, better risk management, and a successful human capital policy. Several judgments that senior management and HRD experts of RACQ formulate when carrying out HRD evaluations carry ethical issues. One ethical issue entailed in evaluation of HRD is confidentiality. In asking employees questions concerning their performance or performance of others, the outcomes of these investigations might thwart or c ause unpleasant treatment by their colleagues if uncovered. For instance, if evaluation of senior management engages in inquiring employees of the performance of their managers, managers might become angry with employees who report negatively about them. Where achievable, confidentiality should be maintained by use of codes instead of names. Another ethical issue is the application of deception. For instance, some analysts might feel that a study would give better outcomes if human resources do not recognise they are carrying out an evaluation analysis, or if provided with fake or deceptive information. This exercise is unethical. Employees would possibly become irritated with the senior management and thus destroy confidence, which is hard to reinstate. Options to deception must be taken into account. The value of Human Resource Development (HRD) can be articulated in accordance with costs and benefits by measuring Return on Investment (ROI) through incorporation of interdisciplina ry endeavors with HRD actualities and distinctiveness. The ROI assessment for HRD is not merely an accounting subject. The gain of HRD intervention could embrace a value different from monetary, for instance, improvement of customer relations that cannot be expressed in terms of dollar value (Wang, 2000, pp. 23-30). Monetary returns for HRD intervention can be computed in dollar values and include profits for the company. Conclusion From this research paper, it is clear that RACQ Insurance Company experiences a weighty issue in effective operation. The senior management team of the company is in the forefront when dealing with disruptions and the challenges that hinder effective operations (Klumpes, 2002, pp. 237-256). Aspects that lead to this issue include failure to take note of positioning the clients at the core of operations, the need for the company to manage capital and risk, and integration of sustainability aspects in its key processes and functions. RACQ must join hands w ith the government to better its operations, not just to boost the confidence and loyalty of customers in the company, but also to develop fiscal literacy. The senior management of RACQ has a critical role to play in dealing with its effectiveness issue. The evaluation of the key issues in RACQ helps to determine how well the company deals with the setbacks of its success. References Armstrong, J., Paolucci, F. (2010). Risk Equalisation in Ireland and Australia: A Simulation Analysis to Compare Outcomes. Geneva Papers on Risk Insurance – Issues Practice, 35(40), 521-538. Atkins, G., Reid, J. (2012). The Magic Pudding – UK Motor Insurance. Journal of the Australian New Zealand Institute of Insurance Finance, 35(1), 24-27. Bekiaris, M. (2006). Crash your cover costs. Money, (14446219)80, 98-101. Bianchi, T., Ebner, G., Korherr, R., Ubl, E. (2011). The Austrian Insurance Industry in CESEE: Risks and Opportunities from a Financial Stability Point of View. Web. Carmo na, J. (2012). Players brace for the Storm Surge. Caribbean Business, 40(30), 12-16. Connelly, L., Paolucci, F., Butler, J., Collins, P. (2010). Risk equalisation and voluntary health insurance markets: The case of Australia. Health Policy, 98(1), 3-14. Delpachitra, S. (2008). Activity-based costing and process benchmarking: An application to general insurance. Benchmarking: An International Journal, 15(2), 137-147. Hogg, J. (2012). Tactical fleet manoeuvring. Charter, 83(5), 30-32. Introducing Anziif Committees. (2010). 7th Annual Australia and New Zealand Industry Awards 2010. Journal of the Australian New Zealand Institute of Insurance Finance, 33(2), 46-47. Kalamaras, M., Rando, A., Pitchford, D. (2006). Driving plastered: who does it, is it safe and what to tell patients. ANZ Journal of Surgery, 76(6), 439-441. Keneley, M., McDonald, T. (2007). The Nature and Development of the General Insurance Industry in Australia. Australian Economic History Review, 47(3), 278-299. Klu mpes, P. (2002). Incentives Facing Life Insurance Firms to Report Actuarial Earnings: Evidence from Australia and the UK. Journal of Accounting, Auditing Finance. Summer, 17(3), 237-256. O’Brien, A. (2004). Collision course. Money, (14446219)7, 48-50. Peterson, P., Roberts, F. (2011). Financial Guarantee Insurance and Failures in Risk Management. Journal of Insurance Regulation, 30(1), 29-76. Pokrajac, M. (2011). Choice insurance review irresponsible. Money Management, 25(42), 6-9. Ryder, T. (2006). How safe is your house? Money (14446219), 76, 66-69. Swanson, S., Hume, A., Hutcheon, W., Scott, R. (2012). Direct Insurance: Would You Like Fries With That? Journal of the Australian New Zealand Institute of Insurance Finance, 35(1), 18-22. Turner, M., Guilding, C. (2011). An investigation of the motivation of hotel owners and operators to engage in earnings management. Qualitative Research in Accounting Management, 8(4), 89-94. Wang, G. (2000). Training economics: An alte rnative approach to measuring ROI for HRD programs. Dallas, American Society for Training and Development. Wilkins, M. (2010). The Need for a Multi-Level Approach to Climate Change—An Australian Insurance Perspective. Geneva Papers on Risk Insurance – Issues Practice, 35(2), 336-348. This report on The Issues in RACQ Insurance was written and submitted by user Bast10n to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

buy custom Research Paper on Boston Common essay

buy custom Research Paper on Boston Common essay Boston Common is the oldest park in the United States. It was established in 1634. It is situated in a fifty acre oasis. The most immediate neighbors of this park include; Tremont streets, Beacon, Charles and Boylston among others. Friends asserts that as a public park, Boston serves as a recreational public park as well as a common place for softball games, concerts and occasionally; protests (7). The space where Boston is currently situated was previously owned by William Blackstone and. The government of Massachusetts bought the space from Blackstone after realizing that a more northerly place site would not be suitable for settlement (Friends 8). The governments main aim for the purchase was to use this land for public livestock grazing. However, Boston Common was not entirely used for grazing. It was also used as a public green that included several official functions. For instance, parades, hangings and drills are some of the official functions that were carried out in Boston (Friends 8). As the official functions became so common in Boston, the government decided to impose a ban on livestock grazing in Boston Common. This prohibition came to effect in 1830. Boston Common equally holds a military history. According to Friends, before the kick off of the American Revolutionary War, the park was used as a camping site by British troops (17). The sixteen most storied landmarks are connected by the Freedom Trail which starts at Boston. Robert Gould Shaw Memorial that features Massachusetts 54th Regiment is also contained in the Freedom Trail. Boston equally anchors the Emerald Necklace. The Necklace entails the one thousand acres of parkland that lies between Franklin Park and Charles River (Friends 19). Boston Common also entails memories of various events. For instance, the Boston Massacre Monument, the Partisans, a tribute to the world freedom fighters and a civil war memorial can all be viewed in Boston. Lastly, the Frog Pond in Boston Common functions as a public ice-skating and a wading pool in winter and summer respectively (Friends 27). The Park served as a site for public assembly and free speeches. Charles Lindbergh used Boston Common as a stage for promoting commercial aviation. The Common in 20th century hosted Anti-Vietnam War as well as civil right rallies some of which were led by Martin Luther King, Jr. Pope John Paul II in some occasions conducted his Masses in this park (Friends 38). Boston Common Sites Most of these sites arose as a result of historical monuments. The first one; the Parkman Bandstand was erected in 1912 in honor of George F. Parkman. George is remembered for contributing a total sum 5 million US dollar towards the maintenance of the Boston parks. The second monument is the Soldiers and Sailors. The monument is situated Flagstaff Hill. It gives attributions to Civil War troops. The monument was established in 1877 and was designed by Martin Milmore-an architect and sculptor (Vorhees 46). Robert Gould Shaw Memorial is another Civil War monument. The monument that faes the Massachusetts State House is situated at the edge of Boston Common. It was erected in the memory of the 54th regiment. The regiment was one of its own since it formed the first free black regiment in the Union Army. Within the Boston Common, there is also the Central Burying Ground. The Ground contains graves of several America and British soldiers who perished in the Battle of Bunker Hill which occurred in 1775 (Vorhees 46). The Last common feature in this park is the Brewer Fountain. The Fountain was donated to Boston Common by Gardner Brewer in 1968. It is a copy of the fountain of the World Exposition of 1855 in France. Grant reported that the Brewer fountain comprises of the mythical pictures of Acis, Amphitrite, Neptune and Galatea (103). Boston Arts Festival The Boston Arts Festival entails the best Boston Arts Scene. It includes both visual and performance. The Festival was started in 2003 as a single afternoon event. As time progressed, the event expanded into a three day celebration. It currently includes diverse programs of performance (Vorhees 47). Morning Events and Observations in Boston Common In Boston Common there are several events that one would observe. The events begin taking place as early as 12 a.m. For instance, very early in the morning, one would only observe an empty park without anybody in it only the beautiful trees, grass cover and animals such as squirrel (Morris 4). The trees have both yellow and green leaves scattered all over the park. Some of the trees shade of their leaves more often making the park looks untidy. These leaves to some extent are nuisance to individuals visiting the park (Morris 4). There is a smell of cleanliness very early in the morning. This smell owes to the fact that no one uses the park at night only for the ones crossing over (Morris 4). In the morning, there is sound of quietness accompanied by some little breeze blowing the leaves. Boston Common is very nice during these morning hours. The sweet smell of the nature inclusive of the one coming from grass, trees and their leaves bring a nice scent to people in the park. But the side opposite to Boylston Street is full of bad odor. The irritating smell is caused by the wastes that people dump in this side of the park (Morris 4). On would also observe an ice skating rink that is well established to be used everyone during winter seasons. The ice skating is used by all age groups that wish to enjoy their time. The park is surrounded by numerous tall buildings that act as wind breakers to strong wind. This has led to Boston Common having a very cool wind during morning hours (Morris 5). As morning grows stronger and a little warmth setting in, people begin walking into the park with most of them in pairs. There is the taste of Hotdogs that are being sold in the nearby streets probably with all the ketchup as well as mustard in them. Besides, there is the taste of caramel being sold. Morris confirmed that as the day continues growing, the disguising smell of cigarette begins setting into the park (5). Events in the Park after mid-day One would observe groups of families sitting together and enjoying some family time together with their children. The children playing with their kites as their parents commit to their own conversations and also catching up on stuff. Some of the families play with their animals around the park. The animals especially dogs scare the squirrels away making them climb onto trees while searching for their safety (Morris 6). There is the rattling sound produced by the leaves as people step on them. The sound sometimes become so much that it ends up irritating people that are holding conversations probably about love , market or anything in general. The people also may look perturbed by the dogs which are actually barking out of their own enjoyment. In Morris view, the sound of people passing close to Boston Common can also be heard by those inside the park (6). As heat begins to increase, the children start playing freely with each other. They play in the sand. According to the children, there is a nice feeling they get from the sand. Morris asserted that some of the people in the park lay down under the trees with intention to have a feeling of the grass and leaves that they have been sitting on (6). After some time, people would start gathering in some sport fields within the park. The fields include Tennis Court, baseball field among other fields. Adults as well as children would then change into their games kits. Afterwards, they begin playing various matches against one another in the sunny weather (Friends 113). There are several games that are played in Boston Common. The games include, holding kites and baseballs, rackets and tennis balls among many others. The games are played by people of different ages. Both adults and children cheer the games (Friends 28). In fact, you would witness winning baseball teams screaming with most of parents, busy cheering out for their children that are participating in games. At this particular time, almost everyone present in the scene wears a smile on his or her face (Friends 30). The winning teams in the games extend the celebration even to their animals. They would run around the park with their animals especially the dogs. The dogs would back as if they were aware of what is going on, as if they also participated in the games. According to Friends, the celebration results in more littering of the park with the leaves scattered even more. It is a real fun in Boston Common during the summer and winter seasons. The Frog Pond offers an outdoor skating rink in the winter with the fountain used for wading pool in summer. According to Vorhees, the two activities interest both children and adults (20). The park is only safe during the day. As a result, Boston Common it is not suitable for moonlight stroll. In conclusion, Boston Common should not be corporatize otherwise it would start having managerial issues. Instead, it would be better if the park was just left in the hands of Boston people to improve it. The people should see the park as their property so as to make it their preserve. Buy custom Research Paper on Boston Common essay

Japanese-American Internment at Manzanar During WWII

Japanese-American Internment at Manzanar During WWII Japanese-Americans were sent to internment camps during World War II. This internment occurred even if they had been long time US citizens and posed not threat. How could the internment of Japanese-Americans have occurred in the land of the free and the home of the brave? Read on to learn more. In 1942, President Franklin Delano Roosevelt signed Executive Order No. 9066 into law which eventually forced close to 120,000 Japanese-Americans in the western part of the United States to leave their homes and move to one of ten relocation centers or to other facilities across the nation. This order came about as a result of great prejudice and wartime hysteria after the bombing of Pearl Harbor. Even before the Japanese-Americans were relocated, their livelihood was seriously threatened when all accounts in American branches of Japanese banks were frozen. Then, religious and political leaders were arrested and often put into holding facilities or relocation camps without letting their families know what had happened to them. The order to have all Japanese-Americans relocated had serious consequences for the Japanese-American community. Even children adopted by caucasian parents were removed from their homes to be relocated. Sadly, most of those relocated were American citizens by birth. Many families wound up spending three years in facilities. Most lost or had to sell their homes at a great loss and close down numerous businesses. The War Relocation Authority (WRA) The War Relocation Authority (WRA) was created to set up relocation facilities. They were located in desolate, isolated places. The first camp to open was Manzanar in California. Over 10,000 people lived there at its height. The relocation centers were to be self-sufficient with their own hospitals, post offices, schools, etc. And everything was surrounded by barbed wire. Guard towers dotted the scene. The guards lived separately from the Japanese-Americans. In Manzanar, apartments were small and ranged from 16 x 20 feet to 24 x 20 feet. Obviously, smaller families received smaller apartments. They were often built of subpar materials and with shoddy workmanship so many of the inhabitants spent some time making their new homes livable. Further, because of its location, the camp was subject to dust storms and extreme temperatures. Manzanar is also the best preserved of all Japanese-American internment camps not only in terms of site preservation but also in terms of a pictorial representation of life in the camp in 1943. This was the year that Ansel Adams visited Manzanar and took stirring photographs capturing the daily life and surroundings of the camp. His pictures allow us to step back into the time of innocent people who were imprisoned for no other reason than they were of Japanese descent. When the relocation centers were closed at the end of World War II, the WRA provided inhabitants who had less than $500 a small sum of money ($25), train fare, and meals on the way home. Many inhabitants, however, had nowhere to go. In the end, some had to be evicted because they had not left the camps. The Aftermath In 1988, President Ronald Reagan signed the Civil Liberties Act that provided redress for Japanese-Americans. Each living survivor was paid $20,000 for the forced incarceration. In 1989, President Bush issued a formal apology. It is impossible to pay for the sins of the past, but it is important to learn from our errors and not make the same mistakes again, especially in our post-September 11th world. Lumping all people of a specific ethnic origin together as happened with the forced relocation of Japanese-Americans is the antithesis of the freedoms upon which our country was founded.

Admissions Essay Example | Topics and Well Written Essays - 500 words - 2

Admissions - Essay Example However, instead of using the term eclectic as a means of arrogance, the underlying reason why I use eclectic fashion stems from the fact that I do not prefer to continually buy clothes all the time. The fact of the matter is that clothes take quite a while to wear out. As such, being a responsible citizen and seeking to reduce my impact on the earth requires a reasonable person to use an article of clothing up until the point in time that it begins to show signs of wear/aging. Because of the desire to wear a garment up until the point that it begins to show signs of wear, buying disposable fashion that is â€Å"in† one season and â€Å"out† the next is not reasonable or rational. Instead, the more appropriate approach would be to buy fashion based upon the level of classic timelessness that it engenders. In this way, choosing clothes that are appropriate and timeless helps to create a balanced wardrobe. This represents a very utilitarian view of who I am. Instead of being a person that is consumed with a desire to promote the latest fashion trend, I am more concerned with the quality and classic nature of particular item. Yet, rather than this making me what some might call a â€Å"conservative person†, this taste in fashion does not translate into my taste in music or other â€Å"style† choices. My preferred music is electronic/trance; something that does not fit with the clothing style I have selected. But due to the fact tha t music considerations are not something that a person pays for on a regular basis, like clothing, the differential that is evidenced in my life is at least partially understandable. From the information that has been discussed, it can clearly be seen that personal style is not something that can be defined categorically. Even within the various elements that contribute to style, a wide range of difference can exist within an individual.

Google article and Zappos article Example | Topics and Well Written Essays - 250 words

Google and Zappos - Article Example Yahoo offers their workers free time given that the workers complete their jobs on time. However, at Google, workers are only given one-fifth free time of their working hours. Zappos incorporates a corporate culture which treats their employees as a family (Zappos 1). The firm puts its employees first and then everything else. A person would expect a firm to put its customers first and then its employees, but this is not the case at Zappos. The leadership of Zappos is what enables the company to maintain such as corporate culture (Zappos 1). The leaders advocate for fairness and understanding all through the company, and this has enabled the firm to maintain a family-like culture. Such a culture in the case of Zappos might make some workers perform less than other, yet the matter would not be addressed. Working as a family makes a person over-rely on others since they are there to assist one