Collisions Lab

Collisions in Two Dimensions Abstract: This lab was conducted to investigate the theories of conservation of momentum and kinetic energy in different types of 2D collisions. In order to do this, both an elastic and inelastic collision was conducted on an air table with pucks. A video was taken and analyzed to determine velocity, allowing for future finding of momentum and kinetic energy values. By finding these, it was possible to determine which kind of collision took place. With low values of change in momentum and kinetic energy that occurred in elastic collisions, it is understood that both are conserved in this type of collision.However, in the inelastic collision, momentum is conserved while kinetic energy is not. Possible error in this lab may have resulted from the neglect of friction and rotational kinetic energy. Overall, however, the results matched up well with the expected values. The objective of the lab was therefore met. Objective: The objective of this lab is to supp ort that momentum will be conserved in all forms of collisions, and that kinetic energy will be conserved only in elastic collisions. Materials: Materials used in this lab were a video camera, an air table with pucks and Velcro bands, and Logger Pro software.Procedure: Videos of collisions of air hockey pucks will be recorded onto the computer’s hard drive. Two different types of collisions will be analyzed. The first will be nearly-elastic, with each puck going separate directions after the collision. The other type is completely inelastic with each buck bearing Velcro so as to stick together upon collision. The first collision requires first setting an origin on the video. Using the Set Scale tool, a distance scale will be set. Trajectory of the center puck is marked and an arbitrary time is picked at which data will begin being extracted.Points will then be added one frame at a time until enough measurements are taken before and after the collision. This is then repeated o n the incident puck. This is done for both the center and the white dot on each puck. This data is automatically entered into Logger Pro. The data sets are then graphed. Straight lines are fitted to the graphs to determine the velocities , wich will be used to determine angular speed of the puck’s rotation. A new video will be analyzed in part two. In this collision the position of the center of mass of both pucks will be tracked, along with the position of the center of one of the pucks.This will result in 8 sets of data points. Linear fits are used to determine the velocity components of each. Radius is then used to calculate angular velocity. Results: ELASTIC COLLISION| | Mass 1| Mass 2| V1ix| V1iy| V1fx| V1fy| V2fx| V2fy| | | 0. 05| 0. 05| 2. 557| 1. 511| 0. 077| 1. 056| 2. 488| 0. 3909| | Errors| | | 0. 003525| 0. 003886| 0. 002806| 0. 003190| 0. 00481| 0. 003588| | | P1ix| P1iy| P1i| P2ix| P2iy| P2i| Pi Tot| | | | 0. 1279| 0. 0756| 0. 04174| 0| 0| 0| 0. 04174| | | Error s| | | 0. 0001061| | | 0| 0. 0001061| | | | P1fx| P1fy| P1f| P2fx| P2fy| P2f| Pf Tot| ? P| ? P/Pi| | 0. 1654| 0. 03378| 0. 03761| 0. 01316| -0. 00198| 0. 01331| 0. 05092| 0. 00918| 0. 2199| Errors| | | 0. 001665| | | 0. 000224| 0. 00168| | | | KE1i| KE2i| KEi Tot| KE1f| KE2f| KEf Tot| ? KE| ? KE/KEi| | | 0. 01767| 0| 0. 01767| 0. 01435| 0. 001796| 0. 01615| -0. 00152| -0. 08602| | INELASTIC COLLISION| | Mass 1| Diameter 1| Mass 2| Diameter 2| V1ix| V1iy| V1fx| V1fy| V2Fx| V2Fy| | 0. 052| . 05| 0. 052| 0. 05| 1. 361| 1. 231| 0. 7372| 0. 9625| 0. 5867| 0. 9481| Errors| | | | | . 007372| . 005637| . 04805| . 02558| . 007288| . 02936| | P1ix| P1iy| P1i| P2ix| P2iy| P2i| Pi Tot| | | | | 0. 2832| 0. 02731| 0. 03934| 0| 0| 0| 0. 03934| | | | Errors| | | 0. 000164| | | 0| 0. 000164| | | | | P1fx| P1fy| P1f| P2fx| P2fy| P2f| Pf Tot| ? P| ? P/Pi| | | 0. 01479| 0. 01901| 0. 02409| 0. 02274| 0. 02443| 0. 03338| 0. 03338| -0. 00596| -0. 1515| | Errors| | | 0. 000242| | | 0. 000243| 0. 000343| | | | | ? | KE1i| KE2i| KE rot i| KEi Tot | KEf lin = KE1f = KE2f| KEf Rot| KEf Tot| ? KE| ? KE/KEi| | 3. 27| 0. 015| 0| 0| 0. 015| 0. 005387| 0. 003397| 0. 008784| -0. 00622| -0. 4144| Data Analysis: Angular Velocity =vr Conservation of Momentum: Elastic: x-component 1v1ix+m2v2ix=m1v1fx+m2v2fx 502. 557+500=50. 077+502. 488 127. 85=128. 25 Error:. 311% y-component m1v1iy+m2v2iy=m1v1fy+m2v2fy 501. 511+500=501. 056+50. 3909 75. 55=72. 345 Error:4. 24% Inelastic: x-component 50(1. 361)+50(0)=50(. 7372)+50(. 5867) 68. 05=66. 2 Error:2. 8% y-component 50(1. 231)+50(0)=50(. 9625)+50(. 9481) 109. 675=95. 53 Error:12. 9% Conservation of Kinetic Energy 12m1v1i2+12m2v2i2+12I11i2+12I12i2= 12m1v1f2+12m2v2f2+12I11f2+12I12f2 12506. 54+1250(0)+12(15625)(. 01)+12(15625)(. 003)= 12(50)(. 006)+12(50)(6. 19)+12(15625)(. 0018)+12(15625)(. 0002) 265. 0625=270 Masses measured in [kg]*Velocities measured in [m/s] *Momentums measured in [kgm/s]*Energies measured in [J] * ? measured in [rad/s] Discussion: The theories of conservation of momentum and conservation of energy in collisions in two dimensions were supported in this lab. While conservation of momentum was supported through both elastic and inelastic equations, conservation of energy was supported only through elastic collisions. Rotational kinetic energy also played a role in the results. The theories are highly supported due to the low amount of error present in this lab.In calculating the final results of kinetic energy and momentum, mass and velocity measurements were used. Momentum and kinetic energy are variables dependent on those of mass and velocity, the independent variables. Because the graphs were position vs. time graphs, the velocity could be derived by looking at the slope. Because the change in momentum in the elastic equation was a relatively small change, momentum in this collision was proven to be conserved. Kinetic energy was also conserved, as is characteristic of elastic collisions, with another very small change.As expected, momentum was also conserved for the inelastic collision. Although the change in kinetic energy was small, the fact that there was some change supports it being an inelastic collision. Energy was not conserved, as expected. Some error in the lab could be contributed to the nearly (but not quite) frictionless air tables. Even slight friction may have affected the data. Another contributing factor to overall error could be the rotational kinetic energy not accounted for in the elastic collision, seeing as energy would have been added to the system.This error could be reduced or eliminated by taking rotational kinetic energy and friction into account. Conclusion: The objective of this lab was to support the theories of conservation of momentum in both elastic and inelastic collisions, and to support the theory of kinetic energy conservation in elastic collisions. Because the changes in the values of kinetic energy and momentum were so small, they proved insignifican t and the theories were supported. Therefore, the objective of the lab was met.

Gd on China or Pakistan Threat to India

attoVishnu, China is a bigger threat than pakistan. I am not speaking about military strength, I am speaking about economic strength. China as all the ability to take all our business, services away from us. In the future, it can stand as a big challenge when it comes to outsourcing and other IT / ITeS services there by completely paralyzing our economy through problems like unemployment etc; China.. it can also challange USA, .. India will be peanuts. pakistan†¦ both equally match†¦ so not that much big threat, but still china is kick *** for India hebiggest threat to india is the pakistan because the , the p-akistan is spreading the cold war, gueerlas war that y it important , to watch carefull the activity of pakistan definately pakistan and due to kashmir dispute. China is the bigger threat, a head on clash with china, could be damaging to India. However, pakistan offers a threat of a different kind, spreading terror, whose effect would be quite bad. hi brother its chin a. they say that arunachal pradesh belongs to them and some disputes in tibet border. its easy to fight with pakistan and win. we know the pakistan is a part of india. t has been to given a place for certain minoroties by india. so theres less threat. jai hind Currently I would say Pakistan because this is the time of Islamic aggresion in the world and Pakistan is an Islamic nation and they currently have a low level conflict with India and there have been terrorist attacks on India from Pakistan. China has the potential to be the biggest threat to anyone but they haven't really shown much aggresion. Lets hope that they remain that way. no country becoz from both we do our good relations. It all depends on how you view the situation. Neither China nor Pakistan need be our foes.We can make use of them for our mutual benefit. However, as a military force China is far superior. On the other hand Pakistan is very close to our territory. Both these factors do not count much in the modern nuclear warfare. All depends on the wisdom of the rulers of the countries and our fate. CHINA is a bigger threat to India. It has the potential to beat down India in every sphere on its own. But PAKISTAN can't do anything much without the help of bigger nations like AMERICA. As a force to compete economically, without a doubt China. But India is in a better position because US and Japan is trying to isolate China.India would soon be award the preferred trading status with US. As militarily threat, Pakistan will have more conflicts with India. There isn't much long term deep root hatred between India and China, so any dispute can be easily resolved compare to Pakistan. china provides a source of healthy competition in the world market. so ,i'd say china's not much of a threat if we realise how to make the most out of it for our advantage. we need strategic planning to implement this. the trade aggrements signed by the national leaders is a step forward in this direction. ince nation al security is of utmost importance , pakistan seems to be an immediate THREAT to the nation ,this issue is one that deserves attn rightaway. If it was a situation over what country could do more damage to India it would definatly be China†¦ But the biggest threat to India is Pakistan because China doesn't threaten and hate India like Pakistan does pakistan cant be a threat for india coz pakistan is a poor country with no economics and also india has defeted pakistan so many times, pakistan is so much spoiled internally that it cant think to fight with india. akistan is also not capable to fight with india, it is india who divided pakistan in in 1971 war and that was enough for pakistan. as far as china is concerned, we also have the same strength as china has. we are indians we are afraid of no one. to tell the truth india is in a position to defend itself if any one of the attack i. e. we are self sufficient. but if both of them get india will be ruined it will be like  "EK AUR EK GYARAH† None but India itself, notably ‘CORRUPTION' from top to bottom! The answers post by the user, for information only, FunQA. com does not guarantee the right.

Business Aspects in Banking and Insuarance

Present Scenario of insurance in business The liberalization, privatization and globalization policies of the nation along with the revolution in the field of Information Technology and communication have been advantageous for the insurance sector in India. ? Entry of private players and foreign collaborations: It was on the recommendation of the Malhotra Committee that private players were allowed to enter into the insurance market. Today there are almost 22 players who have entered the Indian insurance market besides the giant Life Insurance Corporation of India (LIC).Another major development that has taken in the field of general insurance is the de-linking of the 4 subsidiaries of the General Insurance Corporation of India (viz. Oriental Insurance Company Ltd. , New India Assurance Company Ltd. , National Insurance Company Ltd. and United India Insurance Company Ltd) from the parent company. ? Marketing strategies and approaches: The entry of private players and their foreign pa rtners has given domestic players a tough time, because the opening up of the sector has not brought in only foreign players, but also professional techniques and technologies.The present scene in India is such that everyone is trying to put in the best efforts. One can see strategies being more for survival than growth. But the most important gift of privatization is the introduction of customer-oriented services. Utmost care is being taken to maximize customer satisfaction. Insurance Sector Today: Opportunities and Challenges Opportunities As compared to the Western countries, where they have already reached a stage of saturation, India can exploit some golden opportunities in the following fields. 1. Mass MarketingIndia is a highly populated country and would continue to be so in the near future. New players may tend to favour the â€Å"creamy† layer of the urban population. But, in doing so, they may well miss a large chunk of the insurable population. A strong case in po int is the current business composition of the dominant market leader – the Life Insurance Corporation of India. The lion's share of its new business comes from the rural and semi-rural markets. In a country of 1 billion people, mass marketing is always a profitable and cost-effective option for gaining market share.The rural sector is a perfect case for mass marketing. Competition in rural areas tends to be â€Å"kinder and gentler† than that in urban areas, which can easily be termed cutthroat. Identifying the right agents to harness the full potential of the vibrant and dynamic rural markets will be imperative. Rural insurance should be looked upon as an opportunity and not an obligation. A smaller bundle of innovative products in sync with rural needs and perceptions, and an efficient delivery system are the two aspects that have to be developed in order to penetrate the rural markets. 2. Job OpportunitiesJob opportunities are likely to increase manifold. The liber alization of the insurance sector promises several new job opportunities for those who are equipped with degrees in finance. Finance professionals who had witnessed a slump in the job market would be much relieved. There will be demand for marketing specialists, finance experts and human resource professionals. Apart from this, there will be high demand for professionals in streams like underwriting and claims management, and actuarial sciences. 3. Inflow of Funds There could be a huge inflow of funds into the country.Given the industry's huge requirement of start-up capital, the initial years after opening up are bound to see a strong inflow of foreign capital. A rise in the equity share of foreign partners to 49 percent will act as a boost to them. 4. Reinsurance Huge capacity is likely to be created in the area of reinsurance. Apart from pure reinsurance activities, which involves providing insurance protection, there will be a revolution in service-related fields like training, seminars, workshops, know-how transfer regarding risk assessment and rating, risk inspections, risk management and devising new policy overs, etc. 5. Marketing Strategies Also, with more players in the market, there will be significant increase in advertising, brand building, and this will benefit whole lot of ancillary industries. A substantial shift is likely to take place in the distribution of insurance in India. Many of these changes will echo international trends. Worldwide, insurance products move along a continuum from pure service products to pure commodity products. Initially, insurance is seen as a complex product with a high advice and service component.Buyers prefer a face-to-face interaction and place a high premium on brand names and reliability. As products become simpler and awareness increases, they become off-the-shelf, commodity products. Sellers move to remote channels such as the telephone or direct mail. Various intermediaries, not necessarily insurance compan ies, sell insurance. In some countries like Netherlands and Japan, insurance is marketed using the Post Office's distribution channels. At this point, buyers look for low price.Brand loyalty could shift from the insurer to the seller. 6. Bancassurance In other markets, notably Europe, this has resulted in bank assurance: banks entering the insurance business. The Netherlands led with financial services firms providing an entire range of products including bank accounts, motor, home and life insurance, and pensions. Other European markets have followed suit. In France, over half of all life insurance sales are made through banks. In the UK, almost 95% of banks and building societies are distributing insurance products today.In India too, banks hope to maximize expensive existing networks by selling a range of products. Many bankers have shown an inclination to enter the insurance market by leveraging their strengths in the areas of brand image, distribution network, face to face cont act with the clients and telemarketing coupled with advanced information technology systems. Insurers in India should also explore distribution through non-financial organizations. For example, insurance for consumer items such as refrigerators can be offered at the point of sale. 7. Information TechnologyWorldwide interest in E-commerce and India's predominant position in Information Technology and software development are also likely to be major factors in the marketing of insurance products in the immediate future. The number of Internet account is increasing and the trend has already been set by some of the leading insurers and insurance brokers worldwide. Challenges If one has opportunities, one has to face challenges; it is like two sides of the same coin. No doubt India has a lot of opportunities coming her way, but there are a few challenges and threats as well.The four main challenges facing the industry are product innovation, distribution, customer service, and investment s. Unit-linked personal insurance products might find greater acceptability with rising customer awareness about customized, personalized and flexible products. Flexible products and new technology will play a crucial role in reducing the cost and, therefore, the price of insurance products. Finding niche markets, having the right product mix through add-on benefits and riders, effective branding of products and services and product differentiation will be some of the challenges faced by new companies. . Technology In today's highly competitive financial services environment, effective organizations will employ technology in a strategic way so to achieve a competitive edge. Technology will play an increasing role in aiding design and administering of products, as well in efforts to build life-long customer relationships. At the same time, investment in technology will only help as long as firms find the right people: people with the right attitude, values, and ethics, commitment to excellence, and focus on customer service.The critical success factor is a top-down emphasis on exceeding customer expectations with quality people, excellent products, and legendary service. As has been seen in other financial services, the entry of private players ensures that the customer will be the beneficiary in the long run. It will also result in enlarging the market and extending the reach of insurance across the country. 2. Competition Thus, apart from the normal issues facing any new company, many new Indian private insurance players will need to cope with the challenges of working with a joint venture partner.They will be competing with large and well-entrenched government-owned players. They have to overcome regulatory hurdles, change the attitude of new recruits and satisfy some very high customer expectations. Also, the players will have to consider the Indian market as a long-term investment, and maintain clear-cut objectives and constant monitoring at all levels. Co nclusion ? Nationalized players will continue to hold strong market share positions: Over the past three years, around 40 companies have expressed interest in entering the sector and many foreign and Indian companies have arranged anticipatory alliances.The threat of new players taking over the market has been overplayed. As is witnessed in other countries where liberalization took place in recent years, we can safely conclude that nationalized players will continue to hold strong market share positions, but there will be enough business for entry to be profitable. ? Recognizing the potential market Opening up the sector will certainly mean new products, better packaging and improved customer service. Both new and existing players will have to explore new distribution and marketing channels.Potential buyers for most of this insurance lie in the middle class. New insurers must segment the market carefully to arrive at appropriate products and pricing. Recognizing the potential, in th e past three years, the nationalized insurers have already begun to target niches like pensions, women or children. ? Facing competition and challenges Competition will surely cause the market to grow beyond current rates, create a bigger â€Å"pie,† and offer additional consumer choices through the introduction of new products, services, and price options.Yet, at the same time, public and private sector companies will be working together to ensure healthy growth and development of the sector. Challenges such as developing a common industry code of conduct, contributing to a common catastrophe reserve fund, and chalking out agreements between insurers to settle claims to the benefit of the consumer will require concerted effort from both sectors. Objectives of Insurance: 1. Risk Sharing: insurance is mechanism adopted to share the losses that might occur to an individual or his family on the happening of a specified event.The event may be death of earning member of the family in case of life insurance, marine perils in marine insurance and other certain events in miscellaneous insurance. The loss arised from thee events if insured are shared by all the insured in the form of premium. Thus, risk is transferred from one individual to a group. 2. Co-operative Device: Insurance is a cooperative device under which a group of persons who agree to share the financial loss may be brought together voluntarily or through publicity or through solicitation of the agents.An insurer would be unable to compensate all the losses from his own capital. Therefore, by insuring a large number of persons, he is able to pay the amount of loss. Like all other cooperative devices there is no compulsion on anybody to purchase the insurance policy. 3. Saving: Insurance is a saving device, particularly the life insurance. The claim is certain in case of life insurance, while it is not certain in general insurance. Therefore, life insurance is considered as saving because; the insu red party gets the sum assured plus bonus at time of maturity.Therefore, life insurance is considered as a savings device. 4. Economic Security: Insurance provides economic security for such losses arising out of happening of insured event such as personal accident. Insurance is a protection against uncertainties of life. It provides monetary compensation for losses suffered due to happening of uncertain events, insured under the policy of insurance. Insurance is a shelter against financial losses arising out of occurrence of an anticipated accident. Thus, it provides economic security to the family of insured person or his property. 5.Economic Development: One of the most important factors contributing to the process of economic development is the capital formation. The relation ship between capital formation and insurance services in both the developed and developing economies of the world has been quite prominent and noteworthy. The savings from the household sector constitute th e major proportions of the total savings in the country. The household savings constitute physical and financial. The insurance is a financial savings. As the economy progresses and attains maturity, progressively larger proportion of savings is invested in the financial assets like insurance. . Capital formation: Capital formation is the increase in capital stock of a country consisting of plant, machinery, equipments, tools, factory buildings, raw materials etc. Capital has always been regarded as a means of increasing production, in the economy and thereby contributing to the future stream of income to the economy as a whole.The process of capital formation envisages real savings, channelising savings and the act of investment. Insurance service acts as a tool to mobilize savings and indulge in direct investment. Principles of Insurance ) Utmost Good Faith: It means a positive duty to disclose accurately and fully all the facts material to the risk being proposed, whether request ed or not. Every circumstance is material whish would influence the judgement of a prudent insurer in fixing the premium or determining to accept the risk. The breach of utmost good faith arises due to misrepresentation or non-disclosure. Insurance is a contract, and each party can examine the item or service, which is the subject matter of the contract. Therefore, the proposer (the one taking the policy) should disclose accurate information as asked by the insurance company, e. . facts relating to age, health, habits, and personal history. If any information is considered to be fraudulent, then the contract is null and void. Under Sec 45 of the Insurance Act, 1938, the insurance company can cancel a policy up until 2 years, but not after after the policy is signed on the grounds of inaccurate or false statement. 2) Insurable Interest: Insurable interest is the legal right of the insurer, arising out of a financial relationship recognized under law between the insured and the subjec t matter of insurance.The interest in the subject matter of a contract of insurance provides the insured person with the right to enforce the contract. All risks are not insurable. In order to be insurable, the risk must be capable of financial measurement. Insurable interest is said to exist when the person insuring stands to lose, if the event insured against occurs. E. g. a person has insurable interest in his own life. Husband and wife have an insurable interest in each other. The main objective of insurable interest is to prevent people from wagering or gambling on the lives of the others. An insurance company cannot issue a policy without insurable interest.In case of non-life insurance, the existence of insurable interest is:- a) Ownership of a property or asset like a car, flat, etc. clearly establishes insurable interest in the property. b) An employer has an insurable interest in the employees working with him in good health. c) A bank has an insurable interest in the loya lty and integrity of its cashiers and managers. d) A businessman has an insurable interest in the stock of goods, vehicles, furniture and machinery. e) A vehicle owner has an insurable interest even in an unknown third party, who may be potentially injured in any accident involved with the vehicle. ) Indemnity: The basic purpose of insurance is to compensate loss and not to allow profit from insurance contract. The insurance company pays compensation to the insured party only in case of loss due to some perils. If there is no such loss, no compensation is to be paid. According to the principle of indemnity, the actual loss incurred by the insured party is to be compensated by the insurance company, as per the terms and conditions laid down in the policy. For this purpose, the insured has to make a claim to the insurance company within a specified period after the occurrence of certain event.The insured party should not make a profit from any insurance contract. The object of insuran ce is to restore the financial position of the insured. 4) Subrogation: Subrogation means the automatic transfer of rights and remedies of the insured to the insurer upon the insured having received the benefits of insurance. For example, a company has insured a car. If the car meets with an accident which damages the car beyond repair, and the company pays full value of insurance to the person for the car, the company has full right to take away the damaged car. The person has no rights left on the car.The principle of subrogation arises from the basic principle of indemnity. When the insurer indemnifies the insured to the extent to his loss and not more than that, the salvaged property goes towards reducing the loss of the insurer. 5) Contribution: The principle of contribution applies when the insured has taken more than one insurance policy for the same risk from more than one insurance company. In case of loss or damage is incurred and if the insured gets benefits from all the insurance companies, the insured will get more profit than his actual loss.The principle on indemnity will not be followed in such a case and it will be against the law of insurance. Therefore, insurance contracts include the principle of contribution expressly. The principle of contribution works in a manner where each insurer pays only that proportion of the risk, as is represented by proportion off the sum assured to the overall sums assured by the different insurers. Whenever, the principle of contribution applies, the insurers make the insured responsible to file the claims in the correct proportion with the insurers. E. g. , A person takes a policy for Rs. 0000, Rs. 100000, and Rs. 150000 for the same thing. He will claim the insurance in the ration of 1/6, 1/3, and ? respectively. 6)Nature of contract-It is the fundamental principle of insurance required for a valid contract. A contract of insurance comes into existence when therte is an offer or proposal ; acceptance of the same by other. It has to satisfy all essential elements of a simple contract. To insurance contract to be valid one must be competent enough ; with sound mind. Premium is yhe consideration that must be given for the commencement of insurance contract.The object of the contrct should be lawful. 7) Risk must attach-It is essential for a valid contract of insurance. A contract of insurance can be enforced only if the risk is being attached. Premium is the consideration of the risk by the insurance companies. If there is no risk in the subject matter there should be no premium. 8)Mitigation of loss-It is applied in valid insurance contract. In the event of some mishap to the insured property ,the insured must make necessary effort to safeguard his remaining property ; minimize the loss as much as possible. ) Terms of policy- An insurance policy is for a specific period or time often the nature of risk against which insurance is sought determines the period or the life of the policy. a c ontract of fire insurance is normally for a period of one year. The primary functions of insurance include the following: Provide Protection – The primary function of insurance is to provide protection against future risk, accidents and uncertainty. Insurance cannot check the happening of the risk, but can certainly provide for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with others.Collective bearing of risk – Insurance is a device to share the financial loss of few among many others. Insurance is a mean by which few losses are shared among larger number of people. All the insured contribute the premiums towards a fund and out of which the persons exposed to a particular risk is paid. Assessment of risk – Insurance determines the probable volume of risk by evaluating various factors that give rise to risk. Risk is the basis for determining the premium rate also Provide Certainty – Insurance is a devic e, which helps to change from uncertainty to certainty.Insurance is device whereby the uncertain risks may be made more certain. The secondary functions of insurance include the following: Prevention of Losses – Insurance cautions individuals and businessmen to adopt suitable device to prevent unfortunate consequences of risk by observing safety instructions; installation of automatic sparkler or alarm systems, etc. Prevention of losses cause lesser payment to the assured by the insurer and this will encourage for more savings by way of premium. Reduced rate of premiums stimulate for more business and better protection to the insured.Small capital to cover larger risks – Insurance relieves the businessmen from security investments, by paying small amount of premium against larger risks and uncertainty. Contributes towards the development of larger industries – Insurance provides development opportunity to those larger industries having more risks in their settin g up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery. The other functions of insurance include the following:Means of savings and investment – Insurance serves as savings and investment, insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insured's For the purpose of availing income-tax exemptions also, people invest in insurance. Source of earning foreign exchange – Insurance is an international business. The country can earn foreign exchange by way of issue of marine insurance policies and various other ways. Risk Free trade – Insurance promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies under marine insurance cover.IRDA The Insurance Regulatory and Development Authority (IRDA) is a national agency of the Government of India, based in Hyderabad. IRDA is the admi nistrative agency of Government of India for insurance sector supervision and development. It was formed by an act of Indian Parliament known as IRDA Act 1999, which was amended in 2002 to incorporate some emerging requirements. Mission of IRDA as stated in the act is â€Å"to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. As per the section 4 of IRDA Act' 1999, Insurance Regulatory and Development Authority (IRDA, which was constituted by an act of parliament) specify the composition of Authority. The Authority is a ten member team consisting of (a)  Ã‚  Ã‚   a Chairman; (b)  Ã‚  Ã‚   five whole-time members; (c)  Ã‚  Ã‚   four part-time members, They are all appointed by the government of India. [pic]The law of India has following expectations from IRDA:- 1) To protect the interest of and secure fair treatment to policyholders. ) To bring about sp eedy and orderly growth of the insurance industry (including annuity and superannuation payments), for the benefit of the common man, and to provide long term funds for accelerating growth of the economy. 3) To set, promote, monitor and enforce high standards of integrity, financial soundness, fair dealing and competence of those it regulates. 4) To ensure that insurance customers receive precise, clear and correct information about products and services and make them aware of their responsibilities and duties in this regard. ) To ensure speedy settlement of genuine claims, to prevent insurance frauds and other malpractices and put in place effective grievance redressal machinery. 6) To promote fairness, transparency and orderly conduct in financial markets dealing with insurance and build a reliable management information system to enforce high standards of financial soundness amongst market players. 7) To take action where such standards are inadequate or ineffectively enforced. 8 ) To bring about optimum amount of self-regulation in day to day working of the industry consistent with the requirements of prudential regulation.Slow Growth Of Insurance Business In India 1) Volatile market The people in India who invest their money in the volatile market of India see the upper layer of the insurance industry and say that one can think positive about this sector, but the index chart showing the recent growth figures are having different story to tell. 2) Security downfall in insurance sector Many in India consider the insurance sector as the secured one but the recent downfall in the premium income of private and public life insurance and eneral insurance companies clears this myth. The figures that came out in the light, regarding the premium income of insurance industry clearly show that Insurance in India is not recession proof. Downfall started from the life insurance sector of India where the major and most trusted companies have not recorded much impressive premium income. 3) Mixed results of growth and downfall of insurance business The insurance industry of India is not only witnessing this decline in life insurance sector but is also looking south with its general insurance biz.The recent data shows the slow negative growth of the general insurance industry in India with both public and private companies giving out mixed results. In the first quarter of the current fiscal where the public sector general insurance companies like United India, New India Assurance and Oriental Insurance have recorded the growth of 14%, 7% and 10% respectively, while PSU National Insurance has resulted in the negative growth of 2%. 4) Low penetration of general insuranceThe penetration of general insurance in India remains low on account of low consumer preference, largely untapped rural markets and constrained distribution channels, one of the biggest constraints facing the general insurance business is the lack of reach beyond the cities. With the pri vatization of the Indian insurance sector in 2000, competing among the insurance players has increased manifold ; each insurance player is coming up with innovative channels ; insurance products to meet the needs of different people. Thus, it is clear that the face of life insurance is changing.But with the changes come a host of challenges ; it is only the credible player with a long term vision ; a robust business strategy that will survive. According to the latest figures released by the Insurance Regulatory and Development Authority (IRDA), of the total 22 life insurance companies, only nine companies managed to mop up new business premium, most of them being smaller companies. Among major players, only Reliance Life and SBI Life managed to get more business and witnessed a growth of 6. 88 and 0. 89 per cent respectively.At present there are 22 life insurance companies in India, including the State-run Life Insurance Corporation Swiss Re, the largest reinsurance company, has sai d that insurance in the emerging markets is expected to grow at a slower pace in 2008 and 2009, but its longer term growth prospects remain positive. In India growth of new business in life insurance fell from 145. 7% in 2006 to 9. 6% in 2007. Annual growth is likely to drop from the 2002 to 2007 levels of 11. 4% in life and 10. 6% in non-life to 7-10% in life and 3-8% in non-life between 2008 and 2013, said the company its latest Sigma report.Growth in the life market slowed from 18% to 14% in 2007. Speaking of private general insurance companies, some big players like Reliance General Insurance and Tata AIG General Insurance have witnessed the negative growth. The other players in the same category like Bajaj Allianz General and ICICI Lombard Insurance have reported the southward growth of 13 and 21 percent respectively in the June quarter. Lack of good insurance advisors. Reasons for Slow Growth 1. Slackness in the economy and the markets has put the brakes on the high speed grow th of private life insurance companies. 2.Life insurance companies have slowed down recruitment due to tardy growth in the new business and focus on cost-cutting 3. Ineffective distribution networks 4. Delay in settlement of claims – lengthy procedures 5. Fraud cases : Fraudulent and dishonest claims are a major problem for the insurance industry. An example of life insurance fraud is the John Darwin disappearance case, an ongoing investigation into the faked death of British former teacher and prison officer John Darwin, who turned up alive in December 2007, five years after he was thought to have died in a canoeing accident.Darwin was reported as â€Å"missing† after failing to report to work following a canoeing trip on March 21, 2002. He reappeared on December 1, 2007, claiming to have no memory of the past five years. Reasons for Slow Growth (contd) 1) Poor marketing strategies: India is a developing nation and is new to all these marketing strategies if compared at international standards. Keeping in mind the poor literacy rate of the country, there should be such strategies prepared which not only target the urban areas but also tap and concentrate on the rural areas for basic and vital insurance policies. ) Low consumer awareness: Due to lack of awareness, yet, nearly 80% of Indian population is without life insurance cover while health insurance and non-life insurance continues to be below international standards. And this part of the population is also subject to weak social security and pension systems with hardly any old age income security. This, itself is an indicator that growth potential for insurance sector is immense, however, it is slow, one reason being lack of awareness.In order to spread awareness, the insurance companies should have differences in approach for rural and urban areas as per the lifestyle, literacy of people. For eg : crops insurance, house insurance for people in rural areas and farmers with low sources of in come should be made aware of in a less complex manner. 3) Lack of competition: public and private insurance companies more or less offer policies with similar terms and conditions. Hence, differentiation lacks which leads to less competition in the insurance sector. ) Government monopoly: there are private and public insurance companies in the insurance sector. However, the government provides financial aid and encouragement only to its own public institutions. Evidently, the government will only support and favor its own agencies. There is concentration of power and due to this there can’t be an overall and fair development in the insurance sector.5) Inefficiency in management: there is a lot of scope and potential for growth in the insurance sector if men, material and money are managed in the best manner. All sections of society should be tackled in an organized anner with suitable strategies so that the objectives of insurance are materialized. 6) Liquidity crunch: due to reasons such as recession, liquidity has dried-up in the economy and hence people are hesitant concerning long-term investments such as insurance. Only when the liquidity situation eases, will the people become comfortable with locking in money for insurance as it is a long-term commitment and requires payment at regular intervals on a quarterly or yearly basis. 7) Financial malpractices: due to inefficiency and lack of verification there are financial malpractices.For eg: car insurance, the insurer may claim more than the actual damage of his car and give other causes for the accident when it is probably his fault. Such practices are illegal. FUTURE PROSPECTS OF INSURANCE IN INDIA With a huge population base and large untapped market, insurance Industry is a big opportunity area in India for national as well as Foreign investors. India is the fifth largest life insurance market in the emerging insurance economies globally and is growing at 32-34% Annually. Life insurance market ha s propelled the Indian lifeInsurance agents into the ‘top 10 country list' in terms of Membership to the Million Dollar Round Table (MDRT) — an Exclusive club for the highest performing life insurance Agents. Total life insurance premium in India is projected to grow Rs 1,230,000 Crores by 2010-11. — Total non-life insurance premium is expected to increase at a CAGR of 25% for the period spanning from 2008-09 to 2010-11. A major study on the Indian insurance sector by consultancy firm McKinsey & Co says less than a third of the life insurance agents meet minimum raining and sales standards set by their companies. It said the life insurance market could easily double to $100 billion in five years Entitled India Insurance 2012: Fortune Favours the Bold, it estimates that higher per capita income will be the key driver of higher demand for insurance products. By 2012, Indian household will be paying premium of up to Rs 4,100 from the current Rs 1,300 India’s ratio of life insurance premium to its GDP is around 4% against 6-9% in the developed world. But, the report claims it could rise to 6. % by 2012, in tandem with the country's demographic profile By 2012, almost 40% of the urban population is likely to have some form of life insurance cover, while in rural areas too it could touch 35%. Current levels are 30% and 25%, respectively FUTURE PROSPECTS OF INSURANCE IN INDIA (CONTD.. ) Insurance 10 years back in India basically was popular only for Life and to some extent for cover against Fire with only players like LIC,GIC etc. and this was one of the contributing factors for the growth of insurance being slow in India.This scenario changed with the entry of private players in the market. With competition came more innovation which ultimately is benefiting this industry in general. Latest 2 examples of innovations are agricultural/crop insurance and wedding Insurance. Bajaj Allianz Insurance has plans for protection against any losses in wedding preparations. The prospect that Insurance industry in India has a bright future can also be believed as not only big corporate houses like Reliance, Tatas and Birlas have stepped in this sector but also big banks like ICICI, SBI, HDFC are a part of it.This is a very positive indication for this sector with also more foreign players trying to come to India. India has an ever increasing population which just increases more and more market for the insurance industry. With more terror attacks and man made calamities and increasing natural calamities like rain deluge, draught, earthquakes etc. there is an increasing feeling of insecurity which is exactly what this industry thrives on. Hence, Insurance has very bright prospects in India. [pic]

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Short-term memory (STM) Essay Example for Free

Short-term memory (STM) Essay Ð s Ã'â€"t Ã'â€"s known Ã'â€"nformÐ °tÃ'â€"on goÃ'â€"ng Ã'â€"nto the brÐ °Ã'â€"n Ã'â€"s processed Ð °t severÐ °l stÐ °ges. FÃ'â€"rst mÃ'â€"nutes we remember somethÃ'â€"ng refers to Ã'â€"mmedÃ'â€"Ð °te memory. Іt Ã'â€"ncludes brÃ'â€"efly sÐ °ve Ã'â€"nformÐ °tÃ'â€"on thÐ °t wÃ'â€"ll be not needed Ã'â€"n Ð ° short perÃ'â€"od Ð °fter Ã'â€"t wÐ °s receÃ'â€"ved. WÃ'â€"th people who hÐ °ve Ð ° heÐ °d Ã'â€"njury, Ã'â€"mmedÃ'â€"Ð °te memory cÐ °n be good or Ã'â€"t cÐ °n be bÐ °d. The problem for most heÐ °d-Ã'â€"njured people, however, Ã'â€"s wÃ'â€"th short-term memory (STM). ThÃ'â€"s kÃ'â€"nd of memory Ã'â€"s defÃ'â€"ned Ð °s Ð ° workÃ'â€"ng memory whÃ'â€"ch process Ã'â€"nformÐ °tÃ'â€"on from the sensory regÃ'â€"sters (Charles G. Morris and Albert A. Maisto). Іn cÐ °se one focuses the Ð °ttentÃ'â€"on on Ð ° stÃ'â€"mulus Ã'â€"n the sensory regÃ'â€"ster, Ã'â€"t Ã'â€"s Ð °utomÐ °tÃ'â€"cÐ °lly sÐ °ved Ã'â€"n thÃ'â€"s/her STM. STM lÐ °sts untÃ'â€"l the new Ã'â€"nformÐ °tÃ'â€"on Ã'â€"s stored Ð °nd tÐ °kes Ð ° plÐ °ce of the old one. Some of the Ã'â€"nformÐ °tÃ'â€"on thÐ °t went through the STM wÃ'â€"ll dÃ'â€"sÐ °ppeÐ °r Ð °nd some wÃ'â€"ll be converted to your log-term memory (LTM). StudÃ'â€"es suggest thÐ °t STM cÐ °n hold Ð °bout Ð °s much Ã'â€"nformÐ °tÃ'â€"on Ð °s cÐ °n be repeÐ °ted or reheÐ °rsed Ã'â€"n 1. 5 to 2 seconds. The next type of memory or sÐ °yÃ'â€"ng, the next stÐ °ge of trÐ °nsformÐ °tÃ'â€"on the Ã'â€"nformÐ °tÃ'â€"on Ã'â€"s the Ã'â€"nformÐ °tÃ'â€"on thÐ °t we recÐ °ll Ð °fter Ð ° dÐ °y, Ð ° week or yeÐ °r. Іt refers to Ð ° Long-term memory (LTM). LTM hÐ °s Ð ° quite dÃ'â€"fferent cÐ °pÐ °cÃ'â€"ty thÐ °n STM. ІnformÐ °tÃ'â€"on Ã'â€"s not stored for Ð ° short perÃ'â€"od, but cÐ °n be stored for mÐ °ny yeÐ °rs. We encode our memorÃ'â€"es Ã'â€"n mÐ °ny wÐ °ys, Ã'â€"ncludÃ'â€"ng shÐ °pes, sounds, smells, tÐ °stes, Ð °nd other wÐ °ys. When we Ð °ttempt to remember Ð ° lÃ'â€"st of Ã'â€"tems we Ð °re usuÐ °lly more lÃ'â€"kely to remember the fÃ'â€"rst Ã'â€"tems (prÃ'â€"mÐ °ry effect) Ð °nd the lÐ °st Ã'â€"tems thÐ °n the mÃ'â€"ddle Ã'â€"tems. ThÃ'â€"s Ã'â€"s cÐ °lled the serÃ'â€"Ð °l posÃ'â€"tÃ'â€"on effect. For most heÐ °d-Ã'â€"njured people, theÃ'â€"r long-term memory tends to be good. Ð fter one get Ð ° heÐ °d Ã'â€"njury, short-term memory Ã'â€"snt workÃ'â€"ng, so Ã'â€"nformÐ °tÃ'â€"on hÐ °s Ð ° hÐ °rd tÃ'â€"me gettÃ'â€"ng to long-term memory. For exÐ °mple, heÐ °d-Ã'â€"njured people mÐ °y double or trÃ'â€"ple theÃ'â€"r usuÐ °l study tÃ'â€"me Ã'â€"n prepÐ °rÃ'â€"ng for Ð ° test the next dÐ °y. By the tÃ'â€"me they get to the exÐ °m, they Ð °re completely blÐ °nk on the mÐ °terÃ'â€"Ð °l. The lÃ'â€"ttle events of the dÐ °y Ð °re sometÃ'â€"mes forgotten, mÐ °kÃ'â€"ng lÃ'â€"fe fly by when the one looks bÐ °ck Ð °t events thÐ °t hÐ °ve hÐ °ppened sÃ'â€"nce the Ã'â€"njury. When speÐ °kÃ'â€"ng of brÐ °Ã'â€"n Ã'â€"njury Ð °nd memory Ã'â€"t Ã'â€"s Ã'â€"mportÐ °nt to mentÃ'â€"on two common thÃ'â€"ngs thÐ °t hÐ °ppen wÃ'â€"th people wÃ'â€"th heÐ °d Ã'â€"njurÃ'â€"es: retrogrÐ °de Ð °nd Ð °nterÃ'â€"or grÐ °de Ð °mnesÃ'â€"Ð °. Ð mnesÃ'â€"Ð ° meÐ °ns you lost Ð ° memory thÐ °t you once hÐ °d. Іts Ð °s Ã'â€"f someone hÐ °s erÐ °sed pÐ °rt of your pÐ °st. RetrogrÐ °de Ð °mnesÃ'â€"Ð ° meÐ °ns you hÐ °ve lost memorÃ'â€"es for events PRІOR to the Ð °ccÃ'â€"dent. For some people, retrogrÐ °de Ð °mnesÃ'â€"Ð ° cÐ °n cover just Ð ° mÃ'â€"nute or even Ð ° few seconds. Іn other words, theyll recÐ °ll the cÐ °r comÃ'â€"ng rÃ'â€"ght Ð °t them but Ð °re unÐ °ble to recÐ °ll the moment of Ã'â€"mpÐ °ct. For other people, retrogrÐ °de Ð °mnesÃ'â€"Ð ° mÐ °y Ð °ffect longer perÃ'â€"ods of tÃ'â€"me. The lÐ °st three or four hours prÃ'â€"or to the Ð °ccÃ'â€"dent Ð °re gone. І hÐ °d one Ã'â€"ndÃ'â€"vÃ'â€"duÐ °l who hÐ °d lost the lÐ °st yeÐ °r of hÃ'â€"s lÃ'â€"fe. Ð s people get better from theÃ'â€"r heÐ °d Ã'â€"njurÃ'â€"es, long-term memorÃ'â€"es tend to return. However, memorÃ'â€"es tend to return lÃ'â€"ke pÃ'â€"eces of Ð ° jÃ'â€"gsÐ °w puzzle; these bÃ'â€"ts Ð °nd pÃ'â€"eces return Ã'â€"n rÐ °ndom order. Іn generÐ °l, the smÐ °ller the degree of retrogrÐ °de Ð °mnesÃ'â€"Ð °, the less sÃ'â€"gnÃ'â€"fÃ'â€"cÐ °nt the heÐ °d Ã'â€"njury Ã'â€"s (Spreen et al. , 1995). Ð nother form of memory loss Ã'â€"s cÐ °lled Ð °nterÃ'â€"or grÐ °de Ð °mnesÃ'â€"Ð °. Іn thÃ'â€"s cÐ °se, events FOLLOWІNG the Ð °ccÃ'â€"dent hÐ °ve been erÐ °sed. Ð  good pÐ °rt of thÐ °t Ã'â€"s due to the brÐ °Ã'â€"n Ã'â€"njury Ã'â€"tself. Complex systems Ã'â€"n the brÐ °Ã'â€"n Ð °re Ã'â€"njured. The chemÃ'â€"cÐ °l bÐ °lÐ °nce Ã'â€"n the brÐ °Ã'â€"n Ã'â€"s upset. Ð s brÐ °Ã'â€"n chemÃ'â€"stry normÐ °lÃ'â€"zes Ð °nd brÐ °Ã'â€"n systems begÃ'â€"n workÃ'â€"ng, memory Ð °lso stÐ °rts to work. Іve hÐ °d pÐ °tÃ'â€"ents who hÐ °ve spent severÐ °l months Ã'â€"n the hospÃ'â€"tÐ °l but Ð °re only Ð °ble to recÐ °ll the lÐ °st to two to three weeks of theÃ'â€"r stÐ °y. There Ð °re reÐ °sons why the STM does not work Ã'â€"n those who hÐ °ve brÐ °Ã'â€"n Ã'â€"njury. The reÐ °son lÃ'â€"es Ã'â€"n the wÐ °y the brÐ °Ã'â€"n works. Ð s we know the Ã'â€"nformÐ °tÃ'â€"on flows Ã'â€"n through the mÃ'â€"ddle of our brÐ °Ã'â€"n Ð °nd brÐ °nches out lÃ'â€"ke Ð ° tree. Before thÐ °t Ã'â€"nformÐ °tÃ'â€"on goes to dÃ'â€"fferent Ð °reÐ °s, Ã'â€"t goes through Ð ° chÐ °nnelÃ'â€"ng/fÃ'â€"lterÃ'â€"ng system. Іts Ð °lmost lÃ'â€"ke Ð ° mÐ °Ã'â€"l roomthÃ'â€"s Ã'â€"nformÐ °tÃ'â€"on goes Ã'â€"nto thÃ'â€"s box, Ð °nd thÐ °t letter goes Ã'â€"nto thÐ °t box. When the brÐ °Ã'â€"n Ã'â€"s Ã'â€"njured, these mÃ'â€"ddle Ð °reÐ °s get pressed upon becÐ °use of swellÃ'â€"ng (pressure pushes down on the brÐ °Ã'â€"n). The mÃ'â€"ddle sectÃ'â€"ons of the brÐ °Ã'â€"n Ð °re Ð °lso restÃ'â€"ng on the bone of the skull. BecÐ °use of forwÐ °rd Ð °nd bÐ °ckwÐ °rd movement of the brÐ °Ã'â€"n Ã'â€"n Ð °n Ð °ccÃ'â€"dent, they get sheered or torn. Ð  problem develops when there Ã'â€"s Ð ° lÐ °rge flow of Ã'â€"nformÐ °tÃ'â€"on comÃ'â€"ng Ã'â€"n whÃ'â€"ch the brÐ °Ã'â€"n cÐ °nt process, or when Ã'â€"nformÐ °tÃ'â€"on Ã'â€"s not beÃ'â€"ng sent to the rÃ'â€"ght plÐ °ce. So the mÐ °Ã'â€"l room of the brÐ °Ã'â€"n Ã'â€"s not doÃ'â€"ng Ã'â€"ts job. There Ã'â€"s Ð °lso Ð ° second type of memory problem. Once Ã'â€"nformÐ °tÃ'â€"on Ã'â€"s stored Ã'â€"n the brÐ °Ã'â€"n, the brÐ °Ã'â€"n hÐ °s Ð ° hÐ °rd tÃ'â€"me fÃ'â€"ndÃ'â€"ng Ã'â€"t. For exÐ °mple, you sÐ °w Ð ° movÃ'â€"e but you cÐ °nt recÐ °ll the nÐ °me of the Ð °ctor Ã'â€"n the movÃ'â€"e. You cÐ °n vÃ'â€"suÐ °lÃ'â€"ze who the Ð °ctor Ã'â€"s, but cÐ °nt come up wÃ'â€"th hÃ'â€"s nÐ °me. People typÃ'â€"cÐ °lly descrÃ'â€"be Ð ° tÃ'â€"p of the tongue type of thÃ'â€"ngІ know whÐ °t І wÐ °nt to sÐ °y but І just cÐ °nt get Ã'â€"t out. Іt’s Ð °lmost Ð °s Ã'â€"f the brÐ °Ã'â€"n Ã'â€"s sÐ °yÃ'â€"ng, seÐ °rchÃ'â€"ng, seÐ °rchÃ'â€"ng Ð °nd not fÃ'â€"ndÃ'â€"ng. SeverÐ °l mÃ'â€"nutes lÐ °ter, Ã'â€"t just comes to you. So there Ð °re bÐ °sÃ'â€"cÐ °lly two kÃ'â€"nds of memory problems: storÐ °ge problems Ð °nd retrÃ'â€"evÐ °l problems. Іn conclusÃ'â€"on І would lÃ'â€"ke to sÐ °y thÐ °t Ã'â€"t Ã'â€"s very Ã'â€"mportÐ °nt to Ã'â€"mprove the memory Ð °nd mÐ °ke regulÐ °r exercÃ'â€"se whÃ'â€"ch wÃ'â€"ll contrÃ'â€"bute to thÃ'â€"s process. The known fÐ °ct Ã'â€"s thÐ °t people use theÃ'â€"r memory not to the fullest extent Ð °nd not even to the hÐ °lf of theÃ'â€"r rememberÃ'â€"ng Ð °bÃ'â€"lÃ'â€"tÃ'â€"es. Bibliography: 1. Ashley MJ. Traumatic brain injury rehabilitation. Boca Raton, FL: CRC Press; 1995.2. Anderson, V. Moore, C. Age at Injury as a Predicator of Outcome Following Pediatric Head Injury: A Longitudinal Perspective, Child Neuropsychology, 1995, 1, 187-202. 3. Charles G. Morris and Albert A. Maisto. â€Å"Understanding Psychology†. 4. Russ, R. M. , et al. Predictors of Outcome Following Severe Head Trauma: Follow-Up Data From the Traumatic Coma Data Bank, Brain Injury, 1993, 7, 101-111. 5. Spreen, O. ; Risser, A. Edgell, D. Developmental Neuropsychology, Oxford University Press, 1995.

Energy Drink and Red Bull Essay Example for Free

Energy Drink and Red Bull Essay This global profile focuses on the industry trends in soft drinks. ? All values expressed in this report are retail/off-trade in US dollar terms using a fixed exchange rate (2012). ? 2012 figures are based on part-year estimates. ? All forecast data are expressed in constant terms; inflationary effects are discounted. Conversely, all historical data are expressed in current terms; inflationary effects are taken into account. SOFT DRINKS OFF-TRADE RTD VOLUME 534. 8 billion litres Bottled Water 192 billion litres Sports and Bottled and Energy Drinks Sports Energy Water 15 billion litres Drinks 205. 1 billion 16. 2 billion litres Concentrates litres 43 billion litres RTD Coffee 4. 5 billion litres Disclaimer Much of the information in this briefing is of a statistical nature and, while every attempt has been made to ensure accuracy and reliability, Euromonitor International cannot be held responsible for omissions or errors. Figures in tables and analyses are calculated from unrounded data and may not sum. Analyses found in the briefings may not totally reflect the companies’ opinions, reader discretion is advised. Carbonates 169. 5 billion litres. Fruit/Vegetable Juice 62. 0 billion litres Concentrates 43. 7 billion litres RTD Tea 30. 1 billion litres While Red Bull remains the world leader in energy drinks, it is facing growing competition from other players. TCCC in particular, with Monster in the US and Burn in Brazil, is also posing an increasing threat. These two markets are emerging as energy drinks battlegrounds and the implications are considerable for Red Bull’s ability to remain the number one ranked player.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 2Dietrich Mateschitz and Chaleo Yoovidhya each owned a 49% stake prior to 2012 when Mr Yoovidhya passed away. Mr Yoovidhya’s son Chalerm holds the remaining 2%. While Mr Yoovidhya was alive he acted as a silent partner. Red Bull GmbH Headquarters: Regional involvement: Category involvement: Fuschl am See, Austria Global Carbonates, sports and energy drinks ? Red Bull has created the global market for energy drinks, and the pioneering Red Bull brand has became synonymous with energy drinks for a large number of consumers. Red Bull remains bullish and ambitious in their corporate brand. Despite rising competition, Red Bull continues to comfortably lead the global energy drinks market in both volume and value terms. However, the threat from The CocaCola Co (TCCC) has been mounting. World soft drinks share by off-trade 0. 2% RTD volume (2012): World soft drinks off-trade RTD volume 12. 4% growth (2011-2012):  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 4 STRATEGIC EVALUATION Red Bull continues to see strong net sales growth ? Red Bull operates many other businesses aside from energy drinks The company owns and manages a construction company, football clubs, youth academies and TV broadcasting and recently online clothing (Red Bull label only) sales. ? Additional media products include print magazines about football, motor racing, celebrity gossip and lifestyle. The company has even ventured into the mobile phone service business in Austria, Hungary, Switzerland and South Africa.? As a privately-held company, financial information is limited however the company reported net sales of â‚ ¬4. 9 billion in 2012 and 5. 2 billion cans sold, representing growth of 15. 9% and 12. 8%, respectively.  © Euromonitor International ? Red Bull reported exceptionally strong net sales growth in South Africa (+52%), Japan (+51%), Saudi Arabia (+38%), France (+21%), the US (+17%) and Germany (+14%). Red Bull cited efficient cost management and ongoing brand investment as underpinning its growing profitability. SOFT DRINKS: RED BULL GMBH PASSPORT 5 STRATEGIC EVALUATION SWOT: Red Bull GmbH STRENGTHS WEAKNESSES Broad geographic presence ? Red Bull has ? Red Bull has a broad established a strong, geographic presence, consistent brand image which should ensure (an independent, edgy positive long-term brand) globally. Red Bull growth even if certain is synonymous with markets reach maturity. energy drinks in many countries. Category leader OPPORTUNITIES Category limitations Controversial ? In overall soft drinks, ? The relatively high Red Bull has a limited caffeine content of Red product portfolio Bull makes the brand compared to the rising highly vulnerable to number of rivals with a regulatory control. plethora of flavour variants and categories. THREATS. Emerging markets New production Competition High marketing costs ? Red Bull is building a new ? Monster represents the ? Market maturity in ? Emerging markets production facility in Brazil biggest threat to Red developed markets will represent newer which is likely to make its Bull as it contains make marketing to its geographies for Red retail price more natural ingredients, core consumers harder Bull’s expansion. competitive than imported which seem more than in the past. Accelerating the product prices. Building a desirable than Red Bull Constant communication marketing and site in Asia should also be for some consumers.with consumers means sponsorships in these high marketing costs. markets is a wise move. considered.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 6 STRATEGIC EVALUATION Key strategic challenges and objectives It is not easy at the top ? Red Bull’s success has attracted considerable interest from soft drinks multinationals, TCCC and PepsiCo. TCCC in particular has been successful at leveraging its distribution network to launch Burn across many markets and to back Monster. Burn is a major threat to Red Bull in Brazil while in the US Monster has overtaken Red Bull in offtrade volume sales terms. Red Bull will need to find ways to hold onto its number one ranking globally in energy drinks and stave off this competition. Will premium work in emerging markets? ? Red Bull has consistently maintained its premium positioning from its slimline metal cans to its price differential versus brands such as Monster. While this strategy has reaped dividends in the mature markets, it remains to be seen if it will sustain growth in the emerging markets. Brazil with its large population of lower-income consumers may pose a challenge giving cheaper brands such as TCCC’s Burn a competitive advantage. Red Bull stands up to health regulators ? While health officials continue to voice concerns over energy drinks and the category remains under threat from stronger regulation, energy drinks has seen relatively little impact in terms of sales. To some extent this has added to the category’s â€Å"edginess† attracting young consumers and generating consumer interest. There is little risk of Red Bull reformulating its product to cater to health concerns and instead the company insists that its products do not pose a health risk. Red Bull breaks with tradition in 2013 ? In 2013, Red Bull, for the first time in 15 years added new products to its energy drinks range. Red Bull underperformed the overall energy drinks market in 2011-2012. While the company’s market share of the energy drinks market in the US increased in 2012, the market’s growth rate overall began to wane. Red Bull remains heavily dependent on the US for its global growth. Weakness here is reflected in the company’s weakening global performance in volume terms. The company however continues to enjoy the position of number one ranked player in energy drinks globally with a 21. 4% market share. ? In terms of absolute volume growth however, the US remained Red Bull’s key growth engine in 2011-2012 reflecting growth of 96% over 2007-2012. Brazil came second in terms of absolute volume growth expanding by 608% over the review period or 48% CAGR. This market was a particular focus for Red Bull with the company sponsoring various sporting events in order to raise the brand’s profile.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 9 COMPETITIVE POSITIONING Red Bull faces mounting pressure ? In value terms, the company’s performance was stronger in recent years although even in value terms the company’s performance fell below that of the energy drinks market overall. The energy drinks market has attracted a number of other players including Monster Beverage Co, and The Coca-Cola Co (TCCC) which marketed it own brands in the category including Burn as well as engaging in a distribution alliance with Monster Beverage Co. PepsiCo had a modest presence in energy drinks with its brand Sting; however like TCCC it maintained its own alliance, with Rockstar Inc. ? Red Bull’s sister brand non-carbonated Red Bull remains owned by TC Pharmaceutical which led the energy drinks category in China and was present in Thailand where it ranked second. Top 10 players in soft drinks by off-trade value share Soft Drinks: Global Top 10 Companies by Off-Trade Value, Rank 2007-2012 and 2012 Share 2007 2008 2009 2010 2012 2011 Company Coca-Cola Co, The PepsiCo Inc Nestle SA Suntory Holdings Ltd Dr Pepper Snapple Group Inc Danone, Groupe Red Bull GmbH Asahi Group Holdings Ltd % company share 2012 26. 2 11. 3 2. 8 2. 7 2. 0 1. 9 1. 6 1. 5 ? Danone’s volume share is significantly higher than its value share, due to its large volume sales of low-priced bottled water in emerging markets, notably Aqua (Asia Pacific) and Bonafont (Latin America). Meanwhile, Mondelez does not rank among the top 10 in value terms due to its reliance on the low-priced concentrates category in RTD volume terms. ? Red Bull GmbH however with its relatively premium but small serving size Red Bull brand ranks seventh in 2012. The company’s narrow focus in soft drinks, being almost exclusively based on energy drinks, continues to keep the company out of the top five in soft drinks. ? TCCC and PepsiCo capture a stronger share in value than in volume terms chiefly due to their products, particularly carbonates, being priced higher than local brands and   ? North America will continue to lead energy drinks in absolute volume growth terms over the forecast period. However, its CAGR of 8. 1% over 2012-2017 represents a moderation from the 11. 4% CAGR seen over 2007-2012. The Monster brand has led the market in the US over the review period in terms of absolute volume growth. Rockstar, due in large part to its alliance with PepsiCo, has also seen strong growth in this market. ? Red Bull entered China in 2011, however Asia Pacific remains the company’s weakest region in terms of market share. However, this region will be exceeded only by North America in terms of absolute off-trade volume growth over 2012-2017 which may raise some concerns for Red Bull. After a period of strong market share gains in this region between 2007-2010 its performance began to moderate. TC Pharmaceutical with its non-carbonated version of Red Bull is the regional leader. Despite the close relationship between Red Bull GmbH and TC Pharmaceutical with the latter having been founded by the late Chaleo Yoovidhya, the companies remain separate entities.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 14 MARKET ASSESSMENT The Americas to lead growth in energy drinks ? In value terms, both Latin America and Asia Pacific gained in importance for Red Bull over the review period. Latin American sales represented 12% of global value sales in 2012 while Asia Pacific made up 8%. In terms of growth prospects, the strongest growth will take place in North America where the market for energy drinks will expand by US$4. 1 billion over 2012-2017. In CAGR terms however, the strongest performance will take place in Latin America which will see a 20% CAGR. ? Red Bull is ranked number one in both markets. In Latin America, its market share remains a healthy 49. 7%, however this represents a decline over 2007-2012 as the company faced strong competition from TCCC whose share has risen from 2. 5% in 2007 to 14. 9% in 2012. ? Growth in both Eastern and Western Europe will be a comparatively modest at 5% and 5. 1% CAGRs, respectively. However, these exceed the CAGRs for soft drinks overall in these regions, which will be only 2. 7% and 0. 5%, respectively. CATEGORY AND GEOGRAPHIC OPPORTUNITIES Leading players in energy drinks by off-trade volume and value  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 17 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Red Bull shows some weakness in volume sales ? The rankings of the leading players in energy drinks vary significantly by volume and value. Red Bull commands a stronger market share in value than in volume terms reflecting its relatively high price points and reliance on the mature markets, particularly the US, for its sales. The company however maintained is leading position by both measures in 2012 although in both cases it has seen its market share plateau over 2007-2012. ? The Lucozade brand has faced strong competition in its domestic UK market from Red Bull. In 2012, GSK announced a strategic review of the Lucozade and Ribena brands, which may lead to possible divestment. ? Red Bull has been constrained to some extent in volume terms by its highly concentrated production infrastructure. Up to 2012, the company produced exclusively in Austria leading to high shipping and ? The major winner over the review period was production costs, which opened up the emerging Monster Beverage Co, which until 2012 was known markets in particular to less expensive energy drinks as Hansen Natural Corp. Underpinned by its brands. In 2012, the company announced plans to distribution agreement with TCCC the brand has build its first factory abroad in Brazil which may help made rapid gains in both value and volume terms. improve its competitiveness. The brand’s success has been driven by its North ? Rockstar’s distribution agreement with PepsiCo did American performance where it generated 90% of not bring in the same share gains as the Monster its volume sales in 2012. and TCCC alliance. Rockstar made few share gains ? In contrast GlaxoSmithKline (GSK) and its Lucozade brand have been losing market share. In volume terms, GSK has lost 2. 4 percentage points in market share over 2007-2012. globally, with sales mainly coming from developed Western markets where Red Bull continues to lead. PepsiCo may have found it hard to drive Rockstar sales in these mature markets in the face of TCCC’s penetration and Red Bull’s dominance.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 18 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Most dynamic energy drinks markets over forecast period  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 19 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Red Bull tries to counter weakness in key markets with new launch ? While the US will lead growth in energy drinks in both volume and value terms over 2012-2017 there are clear differences among the top 10 rankings by both measures. ? China will push ahead of Brazil in volume growth terms. The market for energy drinks in China is more mature than in Brazil. Unit price growth in Brazil will as a consequence be higher than that in China allowing it to take second position in terms of value sales growth. In China, Red Bull’s sister company TC Pharmaceutical with its Red Bull is the overwhelming category leader with a market share of 81. 2% in off-trade volume terms in 2012. ? Markets entering the top 10 in volume terms include the Philippines and Vietnam both relatively price-sensitive markets. Per capita consumption however in both markets is higher than the global average. Energy drinks in many Asian markets have a long history of being consumed by truck drivers and labourers as a temporary energy boost. These products were in fact the original inspiration for Red Bull; a Westernised version of the potent drinks sold through by Thai pharmacists.  © Euromonitor International ? The UK ranks among the top five most dynamic markets in both volume and value terms. While Lucozade remains the leader here, its fortunes have waned. Red Bull was responsible for much of Lucozade’s market share loss in the early part of the review period. However, later in the review period, smaller brands are increasing fragmentation. The UK is becoming increasingly fragmented as newer and smaller players have entered the market. ? In 2013, Red Bull launched three new flavour variants in the US market. This marks the first major launch for the brand in the energy drinks category over the review period. The new range called Edition includes cranberry-, blueberry- and lime- flavoured variants packaged in red, blue and silver cans, respectively. The move may help to invigorate consumer interest in key markets such as the UK and the US where the range of energy drinks options has increased considerably. It is recommended that the range be rolled out to other markets where market share has weakened. SOFT DRINKS: RED BULL GMBH PASSPORT 20 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Top US brands in energy drinks  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 21 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Red Bull and Monster look to high-adrenaline sports sponsorship Monster pulls ahead in volume sales ? The Monster brand pulled ahead of Red Bull in the US energy drinks market in 2009 in volume sales terms but remains second to Red Bull in value terms. Monster has achieved wider presence in supermarket and forecourt retailers. TCCC has leveraged its strong distribution network through both channels thus giving Monster an edge in terms of volume sales. ? The Monster brand has also been supported by sponsorship of high-adrenaline sports such as MotoGP, NASCAR and Freestyle Motocross which is a direct challenge to Red Bull, which also relies on sponsorship of these sorts of events to maintain consumer interest. Another reason behind the disparity has been the fact that Red Bull sells primarily in smaller 8. 3oz cans, whereas Monster is sold in larger 16oz cans at a relatively cheaper price. Red Bull has since begun to offer its product in a wider variety of sizes and in 2012 trumped Monster with Red Bull Stratos, sponsoring Felix Baumgartner’s free-fall from over 128,000 feet. Threat from consumer health ? Both Monster and Red Bull have also been challenged by the 5-Hour Energy brand from Living Essentials, included in Euromonitor International’s Consumer Health database as a tonic and bottled nutritive drink. This product has been heavily marketed on US television and offers a small pack size (57ml) and the benefit of being sugar-free. While Monster is targeted primarily at younger male consumers, 5-Hour Energy is positioning itself as a pick-me-up for office workers and working mothers. ? The addition of new flavours in 2013 will help to reignite consumer interest. Red Bull’s success in the US has been due in part to its success in the on-trade which has helped to introduce the brand into the off-trade. Educating consumers about how the new flavours can be mixed with alcoholic drinks in the on-trade should form part the marketing campaign to launch the brand.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 22. CATEGORY AND GEOGRAPHIC OPPORTUNITIES Leading players in Brazilian energy drinks  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 23 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Red Bull vs Burn in Brazil TCCC pushes Burn ? Strong growth in the Brazilian energy drinks market has attracted a wider number of players, many of whom have focused on the emergent C socioeconomic class, launching energy drinks at lower prices in 1-litre PET bottles. Examples include BadBoy Power Drink from Horizonte and Orbit from Bebidas Chiamulera. These moves have helped to fuel growth overall in the category.? TCCC has made significant gains in the market with its Burn brand investing significant resources in marketing. Like Red Bull, TCCC has targeted high-adrenaline sporting activities, announcing in 2012 its sponsorship of Kimi Raikkonen’s Lotus F1 team. The brand competes directly with Red Bull, packaged similarly in a slimline metal can. Its price points however are typically lower than those of Red Bull giving it a stronger presence among lower-income groups. ? In 2012, Red Bull announced plans to begin producing its energy drinks locally. Localisation of production will help Red Bull ? Localising production in such a key market is a wise move for Red Bull. It also gives the company stronger capacity more widely in Latin America where the markets for energy drinks in Colombia and Mexico are also set to see strong growth. While Red Bull’s number one position remains safe for the time being, reducing the price premium with TCCC is recommended. This will be supported by significantly reducing costs associated with importing the product from Austria. ? The entry of Anheuser-Busch InBev NV was a key development in the market in 2011. By 2012, the Fusion brand had managed to capture 0. 2% of sales in off-trade volume terms which, while modest compared to the Red Bull brand at 19. 8%, indicates strong potential for further growth. Marketing initiatives centred around the popular Big Brother Brazil TV programme in 2012 helped to increase awareness of the brand among young people.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 24 CATEGORY AND GEOGRAPHIC OPPORTUNITIES Worlds apart: A tale of two Red Bulls ? The relative weakness of Red Bull from Red Bull GmbH in Asia Pacific is due in part to the strength of sister brand Red Bull from TC Pharmaceutical. A more cohesive international strategy should be developed by both companies. ? The strongest prospects for the two players is in China, however opportunities are also being missed in markets such as the Philippines, Thailand and Indonesia. TC Pharmaceutical sales here in energy drinks have been virtually flat over the review period, as newer, more dynamic brands such as Cobra from Asia Brewery and Sting from PepsiCo in the Philippines have invested heavily in marketing and advertising. ? A decisive entry for Red Bull GmbH in key Asian markets will be complicated by the presence of TC Pharmaceutical’s Red Bull. However, both companies could benefit from working more closely together including on the production side to reduce costs and widen their distribution network. The sudden death of TC Pharmaceutical founder Chaleo Yoovidhya in 2012 may present a challenge however in ongoing collaboration.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 25 STRATEGIC EVALUATION COMPETITIVE POSITIONING MARKET ASSESSMENT CATEGORY AND GEOGRAPHIC OPPORTUNITIES BRAND STRATEGY OPERATIONS RECOMMENDATIONS BRAND STRATEGY Red Bull’s premium focus will result in pressure on market share ? Red Bull’s sales in 2012 remained dominated by the US market. In most of its major markets the company has managed to retain its number one position in volume terms despite strong competition from newer entrants. The US is an exception where Monster owing to the strength of its alliance with TCCC combined with an aggressive marketing campaign has managed to topple Red Bull from first place. ? In value terms however, the company’s premium positioning has meant its ranking has remained more secure. As the dynamics of forecast demand shift to emerging markets, where consumers remain more price sensitive, this premium focus will result in growing pressure on Red Bull’s market share. TCCC and PepsiCo have emerged as the company’s strongest competition whether indirectly through distribution agreements such as TCCC/ Monster and PepsiCo/Rockstar and through their own directly owned brands such as Burn and Sting, respectively  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 27 BRAND STRATEGY High octane sports drive home Red Bull message ? Event and sports sponsorship have been key elements for Red Bull’s marketing strategy for many years. Red Bull’s eponymous brand has achieved remarkable global success and 30-40% of its sales are re-invested back in marketing and promotional activity. Red Bull’s strategy has historically been a 3-pronged approach incorporating buzz marketing, sponsorship and TV advertising. Buzz marketing, including handing out free samples at campuses and events where under 30s gather, is often used as a way of initially raising consumer awareness when entering new markets. ? In 2012, the company took its marketing literally to an entirely new level with the Stratos campaign which featured Felix Baumgartner in a record- breaking 128,000 feet jump from the earth’s stratosphere, making him the first man to break the speed of sound while in freefall. The event was streamed live on line with viewers able to log in to post comments via Twitter and Facebook. Motorsports is another key focus for the company with its own very successful F1 racing team.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 28 BRAND STRATEGY Red Bull tries to stay true to its roots ? In a bid to stave off competition from rival brands, Red Bull launched the Red Bull Edition range in 2013 in select city markets in the US. The launch will likely be followed by a nationwide roll-out later in the year. Despite pressure from other energy drinks brands many of which have launched additional flavours Red Bull has stayed loyal to its original formulation and packaging. ? The launch of cranberry, blueberry and lime Red Bull variants is a major direction change for the brand, being its first major launch over the review period. In order to differentiate between Red Bull Edition and the original Red Bull the new cans received a facelift with the addition of new colours and a new bull design. ? Red Bull has not as aggressively as other brands launched into new packaging formats, remaining almost exclusively with slimline metal cans. It has however in some mature markets such as the UK launched into 1-litre PET bottles. This reluctance is in part due to the company’s strategy of retaining its premium positioning.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 29 STRATEGIC EVALUATION COMPETITIVE POSITIONING MARKET ASSESSMENT CATEGORY AND GEOGRAPHIC OPPORTUNITIES BRAND STRATEGY OPERATIONS RECOMMENDATIONS OPERATIONS Expanded corporate operations Red Bull GmbH Red Bull Soft Drinks Other Businesses Red Bull Energy Drinks Motor Racing, Media, MVNO, Fashion Online Retailing Red Bull Simply Cola, Carpe Diem.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 31 OPERATIONS Red Bull looks to diversification ? Red Bull is diversifying into other businesses, rather than limiting itself to energy drinks. In recent years, it has been branching out and became a media company in its own right. The participation in sports sponsorships and events connects the company with a global brand that has passion and excitement associated with it. The company is also present in RTD tea and bottled water with the Carpe Diem brand which it launched to target the health and wellness trend in soft drinks. Carpe Diem Kombucha is a premium RTD tea sold in Western Europe. The brand is also in bottled water in Switzerland and Austria using plant extracts and slight carbonation to offer a healthy alternative to carbonates. ? The company owns two Formula One teams (Red Bull Racing, Scuderia Toro Rosso), a NASCAR racing team as well as several football teams in Brazil, the US and Germany. ? In South Africa, the company is partnering with Cell C to offer voice and broadband services as a mobile virtual network operator (MVNO), ie a company that provides a mobile phone service but does not have its own licensed frequency. Red Bull Mobile will be the second MVNO in the country, after Virgin Mobile. ? It also sponsors many events from cliff diving to air races and subscribing to Red Bull Mobile is a way for people who like the brand to access further benefits when they attend these events. These kinds of partnerships between operators and consumer brands are common in Europe. In Germany, for example, one operator, E-Plus, has 19 such partnerships. It is a way for these brands to get closer to their target group. ? The Group also includes Austrian TV station ServusTV, lifestyle and fashion magazines and a construction company called Bull Bau. ? Red Bull had 8,966 employees in 165 countries as of 2012. The company, which is not listed, traditionally finances its investments from its cash flow.  © Euromonitor International SOFT DRINKS: RED BULL GMBH PASSPORT 32 OPERATIONS Red Bull expands production outside Austria for first time ? Red Bull received approval from the B\razilian government to build its first production facility in the country in early 2010. The companys initial investment in the pr.

The Adobe Systems Incorporated Computer Science Essay

The Adobe Systems Incorporated Computer Science Essay This paper examines the multinational company, Adobe Systems Incorporated, its innovations, value added for its products, and competencies. The paper then examines the companys structure culture, leadership and strategy for deploying its products. Adobe Systems Incorporated Adobe Systems Incorporated is an American multinational computer software corporation founded in 1982 by former Xerox employees John Warnock and Charles Geschke; the current CEO is Shantanu Narayen, who acquired the position in 2005. Adobe is headquartered in San Jose, CA and is traded under the NASDAQ symbol ADBE. Adobes operates in many major cities in the United States; its international operations include China, India, Switzerland, Romania, Canada, and Germany. As of the third quarter of 2012, Adobe has a total revenue of $1.081 billion and a market capitalization of 16.88 billion. Adobe offers software products and services to users of operating systems and technological devices and is best known for Photoshop, Acrobat, and Flash. The companys business can be broken down into three segments: digital media, digital marketing, and digital publishing (Yahoo! Finance, 2012, Reuters, 2012) One of Adobes first product was PostScript, which is a programming language developed by Warnock and Geschke in 1982; at this time, Apple, Inc. was Adobes direct competitor. Adobe created Adobe Illustrator for the Macintosh computer in 1986 which helped to popularize PostScript; a version of Illustrator was later made for Windows in 1989. The company went public in 1986. Adobe introduced Acrobat (the PDF) in 1993, which is now the most widely used viewer and reader. The company has acquired many other companies during the early to late nineties and 2000s. Some of the well-known acquisitions include: Macromedia, Photoshop, Aldus, Omniture, and Efficient Frontier. Adobe competes directly with Apple, Microsoft, and Google (Adobe, 2012 Wikipedia, 2012). Sources and Types of Innovation A company can have one or many sources of innovation which can range from the companys culture, policies, practices, and creativity. I think in Adobes case, its sources of innovation come from creative talent, consumer and business needs, and acquisitions. Adobe started off with PostScript in 1982 invented by its two founders and it became popular because of laser printer in the 1990s (Wikipedia, 2012). The PDF file format, which evolved from PostScript, was invented by Warnock in the early 1990s. Even though there were several competing firms offering the same technology, Adobe was able to make the PDF a market standard because it made the PDF file format usable on the internet where the other competitors could not. As the internet started to boom in the 1990s the PDF became more and more popular (prepressure, 2011). Postscript and the PDF were developed for the print industry. Adobe Photoshop is well known today; thought this software was not directly developed by Adobe, the company saw an opportunity to market it. Photoshop was first developed by Thomas and John Knoll in 1987. John was unhappy with the graphics on the Macintosh computer at this time and he began writing his own code to make the Mac work they way he wanted it to, while Thomas was working on imagining process for his thesis. Both of the brothers started a collaboration and named their software Display. Unfortunately, when the brothers presented their software, now called ImagePro (then later change to Photoshop) to companies in 1988, it was rejected because many these companies were working on similar software or they just did not like the software. When the brothers presented the software to Adobe, the company was impressed with the program. The product was licensed and distributed by Adobe and the Knolls received royalties for this. Adobe added new features to the software with Thomas cod ing them; Adobe mass-marketed Photoshop in 1990 and the rest is history (computerarts, 2005). With these examples, Adobe was able to capture the need of the consumer and market and tweak the technology to make it better. The PDF and Photoshop may have been slow to take off, but Adobe came out the winner because it saw an opportunity to be successful. Adobe has acquired many companies since its inception in 1982 and the products of the former companies have made Adobe profitable. The most famous acquisition was Macromedia, the company that developed Flash and Dreamweaver for the web. Flash, which was first known as FutureSplash Animator, was developed Jonathan Gay in 1995. When Gay decided he wanted to partner with a bigger company, he approached Adobe with his software. Unfortunately, Adobe was not impressed and passed on it. Macromedia bought the program in 1996; fast forward to nine years later and the program would become Adobes own (Beach, n.d.). Adobe has made massive improvements to Flash since Macromedias acquisition in 2005, thus making the company profitable with this software as it is very widely known and used. Value Added for Adobes Products Adobe has added value to all of the products it has introduced to the market. The PDF for example offers many benefits for users. The look of a document is preserved when it is viewed on screen. PDF files can be shared easily among users and is easy and convenient to use. Users can view PDF files on all their electronic gadgets including smartphones and tablets. Not only is Adobe Acrobat easy to use, but it is also free to download. This format is used by individuals, companies and the government. Business and government websites uses this file format because it is easy to use, convenient, fast, and it makes documents easy to print. All of these factors adds value to Acrobat and for these reasons is a market standard internationally. Adobe Photoshop is internationally famous. When people hear or say the term photoshopped they are obviously referring to images that has been modified using Adobes program. Photoshop is used by millions of professional people internationally including fashion designers, photographers, architectures, graphic designers, animators, publishers, film and video pros, and web designers (photoshop.com, 2012). This software allows people to be creative and have freedom and control with their work. For example, marketers can use Photoshop to create an amazing ad seen worldwide. By using Photoshop, people create something that is valuable to them to share with others. Photoshop may have started off small, but the enhancements and features Adobe has added over the years to this software have made it very valuable to people. Adobe Flash may not have been an original idea of the company but like with Photoshop, the company has enhanced it and made it better. Flash is used in the gaming industry, advertisements, animation, and in web applications. This software is used on desktops and mobile devices, is convenient to users, and free of charge. Many web sites, including YouTube uses the Flash as this software has a large user base and it is easy to program (Wikipedia, 2012). Flash makes the internet come alive for many people and the user experience is enhanced when this product is downloaded. The software enhances the look of a webpage making it attractive to users. Adobe flash is slowly declining at the moment and many web developers are favoring HTML5 video. This new type of technology does not rely upon a plugin the way Flash does. Apple has been very critical of Flash because of its security issues and sluggishness and Microsoft did not support Flash in Windows 8. As a result of all these factors, Adobe will no longer improve the flash player on mobile devices and is favoring the HTML5 video (website design and creation, 2012). Even though Flash is declining, it still has a strong presence in the market as many still use this software. Adobe helps retailers, publishers, and marketers with digital solutions. These businesses use Adobe services and products to enhance their users experience to make it meaningful, personalized, and interactive. Most of these businesses communicate with their target audience through the web or on mobile or tablet devices. They are able to build their brand, manage and customize content, and gather customer intelligence. For example, Vanity Fair, uses Adobes Digital Publishing Suite to create a rich and interactive experience for its monthly digital publication on the iPad. American Eagle Outfitters uses Adobes Digital Marketing Suite, which includes Abobe Analytics to see where their customer traffic is coming from, to help the retailer understand what products their customers are looking at, and how their customers are responding to their market initiatives. The company uses these analytics to its advantage to make a difference for their customers online shopping experience. David Fin cher, the director for the film The Social Network, used Adobe Creative Suite during post production of the film (Adobe, 2012). Adobes software solutions and services have helped businesses all across the globe to become more efficient, productive and profitable, hence adding value to what it provides. Core and Distinctive Competencies Adobes core competencies include its software and its services. The company is able to provide distinctive products, services and solutions to its customers worldwide for their various needs. The products that Adobe delivers makes customer experiences fun and make their creative side thrive. The software that the company provides are some of the most used and recognized software in the world and cannot be imitated to work the same way or give users the same experience they would have when using Adobe software. Adobe has great talent as well including creative developers with their own core competencies and software engineers. The company is also very flexible as it dabbles in marketing, broadcasting, publishing, retail, financial services, and media and provides solutions and software for these trades. Adobes distinctive competency is its huge and impressive acquisition list, which is certainly a value-creation strategy for the firm. These acquisitions have helped Adobes businesses in publishing, marketing, and computing. As discussed before, Adobes acquisitions of Macromedia and Photoshop have made the company very profitable from the existing software of those two providers. Other examples include Omniture and Efficient Frontier Technology; both were acquired by Adobe in September 2009 and November 2011 (Wikipedia, 2012) respectively. Omniture is a web analytics company which helps clients measure users purchasing activities on the web (Hoovers, 2012). Adobe has incorporated Omnitures analytics software into its digital market business unit creating the Adobe Marketing Cloud (Adobe, 2012) Adobes marketing clients can use the software and solutions to help them track what their customers purchase or is viewing online in order to provide better services or have a better marketing c ampaign. Adobes acquisition of Efficient Frontier has also helped its digital marketing business by providing search engine marketing using the modern portfolio theory, and display and social media campaigns (crunchbase, 2012). Adobes clients can utilize the algorithms Efficient Frontier provides to increase their ad performance along with Adobe Dynamic Ad Targeting solution (adexchanger, 2011) to become more profitable. Adobes acquisitions is a smart move for the company because talent, resources, and capabilities are all pooled together making the company more valuable. With the existing software of the companies Adobe has acquired, costs are truncated because Adobe does not have to use its own resources to create these technologies; instead, the companies utilizes what it has acquired to make a better experience for its clients. These acquisitions have made the company evolve to make its brand name more valuable. Organizational Structure, Culture, and Leadership Fig 1.1 Adobes Organizational Chart Like many huge organizations in the business world, Adobe has a bureaucratic and centralized structure; it is a top down organization where the CEO is control and in charge of the companys strategic decisions. The levels of the organization and roles of the employees are clearly defined. According to Adobes website, employees are encouraged to be creative and to think outside the box. This would most likely be the slogan of any technology company because technology changes every day and becomes more complex as time passes; a person has to be creative when they work in this industry. Employees at this company often collaborate on huge projects, including the employees from Adobes acquisitions. The teams are inspiring and the individual talents are respected and recognized. Employees are encouraged to be ambitious where they can achieve their full potential. The growth within the company for an individual is endless. The company provides wellness and fitness program and good compensation and benefit plans. Adobe is committed to ethical and honest business practices and has a great deal of pride regarding corporate social responsibility and global corporate citizenship. Employees at Adobe participate in the local community and have a commitment to the environment. The c ompany value people as its greatest asset and the culture here is very open. Adobes CEO, Shantanu Narayen took his cue from Apple about leadership when he was employed by the company. He creates a common vision for the organization and challenges his employees by setting goals. He likes when employees use their creativity to come up with solutions to these goals. He believes that great work is motivating and leads to a great impact on the world. Narayen gives general managers at Adobe freedom to run their own business units the way they want. They are encouraged to grow and take risks and there is room for mistakes. The management team is encouraged to present ideas and discuss their insights into the business about what is working and what is not when there is the quarterly business is conducted; they are coached and guided by Narayen in the problem areas. The CEO thinks that managers being on top of the data is meaningless and wants to know more about what is keeping his managers up at night. Teams at Abobe are built by complementing peoples strengths by s urrounding them with people who can complement their areas of weakness. Narayen hires people who are highly intelligent, have a passion for what they do, and share the same values as Adobe as he believes these three qualities leads to success (Narayen, 2009). Strategy, Timing, and Deployment Since its inception in 1982, Adobe has always been where the action is. The desktop publishing era started at this time with laser printers, which used a program called InterPress developed by Xerox, however, this software was not very flexible. Warnock and Geschke developed PostScript at this time in a much simpler language and marketed it in 1984. When Apple developed its laser printer in 1985, it adopted Postscript to work with it. (Wikipedia, 2012). Adobes strategy here was to license and market its technology to OEMs such as IBM, Texas Instruments, and Apple. The strategy paid off because Postscript had become the standard for laser printers into the 1990s and it made Adobe very profitable. Postscript became a big hit with the publishing industry because it was extremely useful for professionals who were in the creative field (fundinguniverse, n.d.). Adobe acquired one of its major competitors in the desktop publishing industry, Aldus Corporation, the creator of desktop publishi ng software, in 1994 and now had rights to Alduss products with this acquisition (Wikipedia, 2012). Adobe was now a market leader in the industry due to its successful strategies. Adobe began to focus on creating new software when the internet began to boom in the mid-nineties. The company acquired Cencena Communications, Inc. in 1995 to strengthen its position in the market. Cencena developed communication and management tools for the world wide web and Adobe saw an opportunity. With Adobes creation of the PDF at this time and the web management tools of Cencena, the companies combined technologies helped to produce new solutions for customers and acquire a broader range of customers. Adobe was now able to integrate its software with companies such as Microsoft, Netscape, and ATT (The Free Library, 1995). When Adobe wanted to expand more rapidly into digital media, it acquired Macromedia in 2005, one of Adobes biggest competitors. Macromedia developed cutting edge software, such as Flash; once again with Macromedias and Adobes technology, Adobe was able to make its software evolve and capture new markets. Adobes current strategy involves focusing on digital media and digital marketing. The company is investing resources into HTML5 video and has acquired Nitobi, an open source software company (Adobe, 2012). When businesses and individuals need new and better solutions, Adobe steps in with its software and acquires companies that can help it evolve in the industry. Strategic partnership has always been this companys strategy and this is something Adobe does very well. Conclusion Adobe has done well as a corporation for the past thirty years. The company has developed amazing products during the past years which have had an impact on millions of people internationally and has added value to their lives and work. Adobe is able to understand what it customers needs and wants are and has catered to them with its excellent solutions and easy to use products; this has made the company become successful over the years. Adobes culture is open and encouraging and its leadership is supporting and inspiring. These factors are indicative for creativity in the company. Successful acquisitions have made the Adobe evolve with combined technologies and talent, which has led to new technologies and products for its customers. Adobes impact on the software industry has made it a powerful and well established corporation.