Ethical Challenge - 619 Words

EARTHWEAR CLOTHIERS MINI-CASE Chapter 19: Ethics Evaluation List at least three alternatives available to Mike? Alternative 1: Mike can eat lost time and only Alex and mike will know. 2. Mike should identify who will primarily be affected by his ethical dilemma (in this case and Dianne).He must reach out to her and explain the situation 3. Mike checks down the actual occured time and simply tells his senior(Alex) about how he was not comfortable with eating time. What are the pros or potential upside of each alternative you listed above? Alternative 1: Dianne may be impressed by him on finishing on time and Mike and Alex may receive good evaluation. 2. Dianne may appreciate Mikes honesty and grant him more time. 3. Alex could†¦show more content†¦It may be tough for Mike. He may receive a bad evaluation for his job which will look very bad on his reputation and his school. However, It will also send a message to the Management that he is an ethical person and can be trusted on ethical dilimmas. The future staff will also benefit from the extra/correct budgeted time. Dianne may not get the promotion however, there will always be more chances to get a promotion. In your opinion, which of Mikes alternative courses of action would provide the best outcome and why? I believe Mike should write down the actual time occurred on the time sheet. It would be best for the firm and Mikes reputation. When Mike writes down the actual time even though he was pressured not to do so; it shows about his character and his ethical will power. This characteristic of his will lead him to become a very good Auditor in the future. How would you handle the ethical issues involved in this situation? I would write down the actual occurred time on the cash deposits; and explain to Alex that I felt uncomfortable about eating time. If situation plays out, I will try to talk to Dianne to explain her the situation and apologize for the mistake I made. I will assure her that next time I will be more competent onShow MoreRelatedEthical And Ethical Challenges Of Organizations1536 Words   |  7 Pages â€Å"A major problem we identify in business is that organisations are designed as profit making mechanisms and have no interest in the good of society† (Bartlett Preston, 2000). Companies always want to have an ethical advantage over other companies but only for the profit. With globalisation and technological advances, it can put a stress on some companies as they always need profit and market share to be successful and grow. â€Å"Individual managers (tone at the top) play an essential role making sureRead MoreThe Challenge of Ethical Behavior823 Words   |  4 PagesThe Challenge of Ethical Behavior in Other Countries The requirements of day-to-day organizational performance are so compelling that there is little time or inclination to divert attention to the moral content of organizational decision-making. Morality appears to be so obscure in nature that it lacks substantive relation to performance. An effective organizational culture should encourage ethical behavior and discourage unethical behavior. Unfortunately, ethical behavior may end up costingRead MoreEthical Challenges Of Ethical Business Practices Essay1517 Words   |  7 PagesEthics There are many challenges of ethical business practices in a non-ethical world. While some businesses do well, and are considered ethical there are some businesses that are highly questionable. As one can see through the news media some companies are so unethical, congress gets involved. Ethics are complicated enough for an individual, however, in a corporate setting the stakeholders are hoping for the multitude of people to share the same values in order for an organization to function properlyRead MoreEthical Challenges Of Tobacco Advertisements1170 Words   |  5 PagesETHICAL CHALLENGES OF TOBACCO ADVERTISEMENTS 1 Ethical Challenges of Banning Indian Tobacco Advertisements Poitier Stringer University of the People ETHICAL CHALLENGES OF TOBACCO ADVERTISEMENTS 2 Ethical Challenges of Banning Indian Tobacco Advertisements The tobacco industry has long presented ethical challenges for governments that are tasked with looking after the public good. Tobacco producers have provided significant revenue for many economies, yet they specialize in the manufacturing and distributionRead MorePreparing for Ethical Challenges Essay776 Words   |  4 PagesPreparing For Ethical Challenges A survey by the Josephson Institute of Ethics polled more than 20,000 middle and high school students about moral standards. Almost half of these students reported stealing something from a store in the previous 12 months. In the same period, seven out of 10 cheated on an exam. There is more and more evidence of antisocial behavior than ever among our youth. Even our most academically talented students tend to let personal interest triumph over the common goodRead MoreEthical Challenges Of International Business1147 Words   |  5 PagesIndividual Response to Ethical Challenges of International Business. The International Business as a whole has this debate on ethics and it is not a surprise, we are interacting with people with completely different views, morals, and values. Each business that is present in an international setting, will be conducting international operations and they have domestic, foreign, or global ethical practices that differ from others, resulting in ethical dilemmas. Being exposed to that, I will always putRead MoreEthical Challenges Within The Workplace1119 Words   |  5 PagesEthical challenges happen anywhere in a work place, but managers often deal with ethical issues the most. Managers have to worry about their employee’s actions and also their own. In the business world today, there are more rules and regulations to follow to keep the professionalism. When employees or even the boss go against the rules and regulations set, it could lead to dismissal from the business. In this paper, there will be examples of what the IMA expect from companies. People often do notRead MoreEthical Challenges Faced By Ibm1010 Words   |  5 PagesA technological company can be faced with various kinds of moral challenges. Usually all companies have the responsibility to provide services on behalf of other companies or clients. It may be reasonable that any unethical decision or approaches made by a company is being represented by some other firms. In the case of IBM, the IBM Company is best known for developing computer systems, hardware, software, and infrastructure. Founded in 1911, the company remains well known as one of the most popularRead MoreThe Ethical Challenges of Professional Practice1949 Words   |  8 PagesThe Ethical Challenges of Professional Practice Prepared by: Malgorzata Delimat Introduction In recent months, a sense of chaos has prevailed in Ireland. Scandals, which emerged in banking sector, have done horrendous damage to credibility of accountancy profession and reputation of Irish financial system. In these difficult times, it is very important to understand what the ethical challenges of accountancy profession are. As professionals, accountantsRead MoreEthical Challenges Case Study : Volkswagen Ethical Scandal936 Words   |  4 Pages Ethical Challenges Case Study Volkswagen Ethical scandal Managing Organizations and Teams MANA – 6372 – 01 For Professor Gerald Burns By Venu.Velpula Dallas Baptist University Feb 1, 2017 Definition: The word Ethics is defined as a system of moral principles. They affect how people Make decisions and lead their lives. Though the ethical dilemmas face by certain companies may be specific to their industry or company

Pact Between Faustus and Mephistopheles Essay - 1608 Words

The pact that Doctor John Faustus makes with Mephistopheles is generally viewed as a standard business transaction. Mephistopheles wants Faustus’ soul and Faustus wants power and knowledge, The play begins with Faustus’ cycling through different books of study, and for each, he gives a reason why not to study it. Until he reaches a book of magic. â€Å"These metaphysics of magicians are heavenly (ironic);†¦ these are those that Faustus most desires. What a world of profit and delight, of power, of honor, and of omnipotence, is promised to the studious artisan!.. A sound magician is a mighty god. Here Faustus, try thy brain to gain a diety.† Based on these thoughts, Faustus conjures up Mephistopheles and makes his offer. so the two strike†¦show more content†¦If thou deny it, I will back to hell.† (2.1.34-37). Faustus writes in the deed that he is selling his soul to Lucifer in exchange for twenty-four years of Mephistopheles’ s ervices. Once the contract is signed, however, neither Faustus nor Mephistopheles instantaneously achieves what he sought after. Faustus never seems to take his end of the deal seriously, even after he is convinced that Hell actually does exist, and Mephistopheles does not follow through on his part of the contract either. Faustus is refused an answer to his philosophical questions because Mephistopheles refuses to acknowledge God’s accomplishments. Faustus often tries to repent and Mephistopheles is always right there to make him reconsider repentance. The Good Angel and the Old Man also attempt to convince Faustus to repent long after the contract is signed. Had the deal been genuine the concept of repentance would not have been introduced because Faustus’ soul would have already sold to Lucifer. John D. Cox touches on the apparent lack of authority in the pact in his article â€Å"The Devil and the Sacred in English Drama†. He writes, â€Å"The bargain thus appears to be another demonic feint, as the Good Angel and the Old Man suggest in their assurance of divine mercy long after Faustus has signed† (264). If Faustus’ soul was already signed over to Lucifer, the Good Angel andShow MoreRelatedA Divided Self: The Many Facets of Faustus2074 Words   |  9 Pagesman, Marlowe’s character Faustus turns to the only remaining school of thought that he feels he must master which is the art of necromancy. In his pursuits, he manages to summon the devil Mephistopheles, arch demon of hell, and strikes a deal to trade his immortal soul with Lucifer in exchange for being granted an infinite amount of power and knowledge that extends even beyond the limits of human understanding. However in the process of negotiating the terms of his pact, it becomes clear t hat FaustRead MoreComparing Dr. Faustus And Marlowe And Mamet983 Words   |  4 Pagesdangerous pact with the devil. Interpretations of this story range from classical music and opera to paintings and cartoons. From Goethe to Radiohead, Dr. Faustus’ thirst for knowledge and the chaos this desire produces have captivated artists of all disciplines. This paper will examine two theatrical depictions of this myth. A little more than 400 years separate the original productions of Christopher Marlowe’s The Tragic History of the Life and Death of Dr. Faustus and David Mamet’s Faustus, but bothRead MoreThe Tragedy Of Doctor Faustus1856 Words   |  8 PagesThe story of Doctor Faustus is one of a man who is not great in the traditional, tragical sense but great of mind, an intellectual. Faustus makes a pact with the devil, mistaking Hell for Heaven and mistakenly believing himself to be reprobate. With this unholy pact Faustus chases after power but with each attempt h e sinks lower and lower, eventually succumbing to base desire. Faustus ends his 24 years with an attempt to repent however he is dragged to Hell and the play then ends with a caution fromRead MoreDr. Faustus As Morality Play1443 Words   |  6 PagesIn order to determine whether Dr. Faustus is a morality play or tragedy, two aspects must be considered. Firstly, it must be decided whether Dr. Faustus is a morality play or not. In an attempt to categorize the play, the play s form, content and subject matter will be discussed. There is alternative argument that states the play is in fact a tragedy. Secondly, does this supposed morality play have a moral? In order to answer this question, the tone of certain parts of the play will be analyzedRead MoreChristian Tradition and Non-Christian Tradition are Two Magical Traditions in Marlowes Faust1535 Words   |  6 Pagesengaging in adventures and magical exploits, and trafficking with the greatest of evils. Many view the Faust tradition from the perspective of magus literature. Their searches for Faust’s beginnings often turn up magicians. The historical Johann Faustus, a sixteenth-century charlatan who wandered across Germany, who exercised a minimum of pharmaceutical knowledge†¦with a maximum amount of malice,† was himself a magician. E. M. Butler, in The Myth of the Magus, links Faust with a broad number ofRead MoreFaustus as a Medieval Morality Play1603 Words   |  7 PagesFaustus as a Medieval Morality Play By K.Friedman Christopher Marlowe’s Doctor Faustus has been influenced by the conventions of a Medieval Morality play through Marlowe’s purely didactic use of the text to encourage Christian values. He uses various dramatised moral allegories that together encompass the themes of divided nature of man allegorised through the good and bad angels that demonstrate virtue and vice, alongside the concept of sin and degradation allegorised by the Seven Deadly SinsRead MoreClose Reading of Dr. Faustus1215 Words   |  5 PagesPaper 1: Evaluation of Faustus’s internal conflict Faust.  Ã‚  My heart’s so hard’ned I cannot repent. |   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  20 | Scarce can I name salvation, faith, or heaven, | | But fearful echoes thunder in mine ears | | â€Å"Faustus, thou art damn’d!† Then swords and knives, | | Poison, gun, halters, and envenom’d steel | | Are laid before me to despatch myself, |   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  25 | And long ere this I should have slain myself, | | Had not sweet pleasure conquer’d deep despair. | | Have I notRead MoreDr. Faustus Is a Morality Play Without a Moral. Discuss.2775 Words   |  12 PagesIn forming an answer to this question there are two aspects which must be considered. Firstly we must decide whether Dr Faustus is a morality play; I will do this by discussing the play s form, content and subject matter in an attempt to categorise the play. I will also offer an alternative argument by saying that the play is in fact a tragedy. Secondly we must decide whether or not it has a moral; to do this I will consider the tone of certain parts of the play, in particular the Chorus speechesRead MoreJohann Wolfgang von Goethe and Faust Essay1029 Words   |  5 Pagestell you...† (Goethe Line 72) The bet between the spiritual beings were whether Faust: the lone-representative of all humanity, will be able to shoulder the weight of good and evil; nevertheless, how huge the temptation of personal gain. In a sense, I acquired that the Lord’s view of humanity is: imp erfection isn’t absolute and man’s potential for the greater good can be refined. As the poem continues, Faust has found himself in the presence of Mephistopheles. â€Å"I had ideas too big for me, your level’sRead More Historical References to Faust Essay1693 Words   |  7 Pagesdescribes and represents the heavens, Gabriel the earth, and Michael the elements.  · Mephistopheles.Goethe’s devil is inspired by a number of different literary sources, not just Christian.  · The basic structure of the dialogue between the Lord and Mephistopheles is inspired by the first two chapters of The book of Job, in which Satan obtains permission from God to try and tempt Job to do evil.  · Faust. The real Georg (or Johann) Faust was born in 1480 and died in 1540. Although contemporary

Blink-182 - Blink-182 free essay sample

As my senior year comes to a close, I routinely find myself drowning in spells of nostalgia and reminiscing on experiences of years past. I remember playing in the snow, procrastinating over homework, hanging out with friends. But I mostly remember the music that helped form my impressionable mind. When I was young, my dad sang me the songs of James Taylor, while my mom and I belted out the ballads of Tina Turner on the way home from school. As an elementary school student, I became obsessed with the pop craze, and melted when I heard my favorite Backstreet Boy. This all changed in middle school when I found my â€Å"edge,† or at least what I thought to be edgy – the music of Blink-182. This band exuded the teen angst I thought I ought to be experiencing. They were the epitome of cool. They were not afraid to be humorous as they led the forefront of a teenage rebellion. We will write a custom essay sample on Blink-182 Blink-182 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Blink-182 released their self-titled album in 2003, and I was fortunate to buy it, thanks to a gift card. â€Å"Blink-182† became the soundtrack of my final year of middle school. I was an eighth grader growing up to the sophisticated sounds of what bassist Mark Hoppus called a â€Å"self-meditation on romantic decay,† and I felt smarter for being able to recite that description on cue. No longer did Blink-182 sing of hot dogs and first dates, but instead serenaded the masses with a refined pop-punk sound that was a refreshing surprise to dedicated fans. The first single released, and the first song on the album, â€Å"Feeling This,† sets the tone with its head-banging drums and heart-gripping lyrics. The next two, â€Å"Obvious† and â€Å"I Miss You,† have a mysterious quality that further reflects the band’s new attitude about love, life, and music. There is a solid meaning and purpose behind every chord, every note, and every word. Between the fourth and fifth tracks on the album, a letter is read that Mark Hoppus’ grandfather wrote to his wife during World War II. It brings a tear to the listener’s eye as it describes his unconditional love during the most terrible of circumstances. The remaining tracks encourage listeners to take a new outlook and to see life from a new perspective. Blink-182’s final album (before their â€Å"indefinite hiatus†) was released in 2005, and is something that the band can be proud of as an end note to over a decade of success. Its new-age, sophisticated feel is something that will remain revolutionary and proves that a band can stay true to themselves and their music while growing up and growing apart. This band reinvented themselves for this album, and their efforts are deemed immortal as â€Å"Blink-182† will forever play as the background music to many souls who were touched by this legendary band.

Project on Tata free essay sample

Executive summary This project has been a great learning experience for me; at the same time it gave me enough scope to implement my analytical ability. Tata Group is one of the Indias largest and most respected business groups. Tata Groups name is synonymous with Indias industrialization. Tata AIG Insurance Solutions is one of the leading insurance companies that provide both life insurance as well as general insurance. This pioneer company is a joint collaboration between the American International Group, Inc. (AIG) and Tata Group. They own the company in the ratio of 26:74. It is a leading financial institution that has carved a niche for itself all over the world. Tata AIG Insurance Company is having different insurance policies. At the end of the project people will be knowledgeable about various insurance organizations and different products taking into considerations hundred sample sizes in Ahmedabad city. We will write a custom essay sample on Project on Tata or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Project is on the market potential study of Tata AIG Insurance Company in Ahmedabad city. To get to know a questionnaire has been prepared which contains open ended and close ended questions. Firstly pilot study has been done through hundred questionnaires. For collecting the data field survey method, personal interview technique has been used. Secondary data has been collected from the company. The data collected are represented into suitable tabular forms for drawing inferences. Quantitative techniques like averages, percentages, range, two-way tables, chi- square tests analysis has been applied as per the requirement. The level of preference, perception of the customers about the product and company were identified by means of a scoring scheme. For the representation of data various charts and graphs are used as per requirement. . Introduction CHAPTER 1 INTRODUCTION TO INSURANCE 1. 1. INTRODUCTION Insurance is a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party called insured a fixed amount of money on the happening of a certain event. Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual. With the help of Insurance, large number of people exposed to a similar risk makes contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good. Insurance is a tool by which fatalities of a small number are compensated out of funds collected from plenteous. Gradually as competition increased benefits given by industry to its customers increased by leaps and bounds. Insurance is a basic form of risk management which provides protection against possible loss to life or physical assets. Person who seeks protection against such loss is termed as insured, and company that promises to honor claim, in case such loss is actually incurred by insured, is termed as Insurer. In order to get insurance, insured is required to pay to insurance company a certain amount called premium. Premium is collected by insurance companies which acts as trustee to pool created through contributions made by persons seeking to protect themselves from common risk. Any loss to the insured in case of happening of an uncertain event is paid out of this pool. Insurance business is divided into four classes: Life Insurance  · Fire  · Marine  · Miscellaneous Insurance.  · Insurance provides:  · Protection to investor.  · Accumulation of savings.  · Channeling these savings into sectors needing huge long term investment. 1. 2. FUNCTION OF INSURANCE: Provide protection: The primary function of insurance is to provide protection against future risk, accidents and uncertainty. Insurance ca nnot 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 an instrument 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 device, which helps to change from uncertainty to certainty. Insurance is device whereby the uncertain risks may be made more certain. Small capital to cover larger risk: Insurance relieves the businessmen from security investments, by paying small amount of premium against larger risks and uncertainty. Contributes towards the development of industries: Insurance provides development opportunity to those larger industries having more risks in their setting up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery. 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 insureds For the purpose of availing incometax 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. . 3. LIFE INSURANCE: Life insurance is a contract under which the insurer (Insurance Company) in Consideration of a premium paid undertakes to pay a fixed sum of money on The death of the insured or on the expiry of a specified period of time Whichever is earlier. In case of life insurance, the payment for life insurance policy is certain. The Event insured against is sure to happen only the time of its happening is not known. So life insurance is known as „Life Assurance?. The subject matter of insurance is life of human being. Life insurance provides risk coverage to the life of a person. On death of the person insurance offers protection against loss of income and compensate the titleholders of the policy. 1. 4. ROLES OF THE LIFE INSURANCE: Life insurance as an investment: Insurance products yield more than any other investment instruments and it also provides added incentives or bonus offered by insurance companies. Life insurance as risk cover: Insurance is all about risk cover and protection of life. Insurance provides a unique sense of security that no other form of invest can provide. Life insurance as tax planning: Insurance serves as an excellent tax saving mechanism . 5. IMPORTANCE OF THE LIFE INSURANCE: Protection against untimely death: Life insurance provides protection to the dependents of the life insured and the family of the assured in case of his untimely death. The dependents or family members get a fixed sum of money in case of death of the assured. Saving for old age: After retirement the earning capacity of a person reduces. Life insurance en ables a person to enjoy peace of mind and a sense of security in his/her old age. Promotion of savings: Life insurance encourages people to save money compulsorily. When life policy is taken, the assured is to pay premiums regularly to keep the policy in force and he cannot get back the premiums, only surrender value can be returned to him. In case of surrender of policy, the policyholder gets the surrendered value only after the expiry of duration of the policy. Initiates investments: Life Insurance Corporation encourages and mobilizes the public savings and canalizes the same in various investments for the economic development of the country. Life insurance is an important tool for the mobilization and investment of small savings. Credit worthiness: Life insurance policy can be used as a security to raise loans. It improves the credit worthiness of business. Social Security: Life insurance is important for the society as a whole also. Life insurance enables a person to provide for education and marriage of children and for construction of house. It helps a person to make financial base for future. Tax Benefit: Under the Income Tax Act, premium paid is allowed as a deduction from the total income under section 80C. 1. 6. INSURANCE CYCLE: Policy Renewal/Change Options/Application:- The Insurance Cycle begins each year with the insurance offer. Actuarial documents are published annually by the Risk Management Agency (RMA). The actuarial documents list the plan of insurance, crop, type, variety, and practice that may be insured in a state and county, and show the amounts of insurance, available insurance options, levels of coverage, price elections, applicable premium rates, and subsidy amounts. The Special Provisions of Insurance list program calendar dates, and general and special statements which may further define, limit, or modify coverage. Sales Closing/Cancellation/Termination Dates:- Insurance applications must be completed and signed no later than the sales closing date specified in the crop actuarial documents. Applications signed after the crop sales closing date may be rejected by the insurance provider. Insurance coverage is continuous and can be cancelled by either the insurance provider or the policyholder for the following crop year by providing a written notice to the other party no later than the cancellation date specified in the crop policy. For a policyholder insured the previous crop year, any changes he or she wishes to make to the policy coverage must be made on or before the crop sales closing date. The policy will automatically renew for the subsequent crop year unless the policyholder cancels the policy in writing on or before the crop cancellation date. Insurance coverage may be terminated by the insurance provider for the following crop year for nonpayment of outstanding debt by providing a written notice to the policyholder no later than the termination date specified in the crop policy. The insurance provider may terminate coverage on a crop if no premium is earned for three consecutive years. Acceptance:- Upon receipt of a properly completed and timely submitted insurance application, the insurance provider will accept and process the application, unless the applicant is determined to be ineligible under the contract or Federal statute or regulation. The insurance provider will issue a summary of coverage and the appropriate policy documents to the applicant. After the application is accepted, the policyholder may not cancel the policy for the initial crop year. Insurance Attaches: For annual crops, insurance attaches annually when planting begins on the insurance unit. The crop must be planted on or before the crops published final planting date unless late or prevented planting provisions apply. If prevented planting provisions apply, and the crop cannot be timely planted due to the causes specified in the crop provisions, such acreage may be eligible for a prevented planting payment. Acreage Reports:- The policyholder must annually report for each insured crop in the county the number of insurable and uninsurable acres planted or prevented from being planted if prevented planting is available for the crop, the date the acreage was planted, share in the crop, the acreage location, farming practices used, and types or varieties planted to the insurance provider on or before the applicable acreage reporting date specified in the crop actuarial documents. Summary of Coverage:- The insurance provider will process a properly completed and timely filed acreage report, and issue to the policyholder a summary of coverage that specifies the insured crop, the insured acres and amount of insurance or guarantee for each insurance unit. The policyholder may make changes to the filed acreage report, if permitted by the insurance provider. Premium Billing:- The annual premium is earned and payable at the time insurance coverage begins. The insurance provider shall issue a premium billing based upon the information contained in the acreage report no earlier than the premium billing date specified in the crop actuarial documents. The premium billing will specify the amount of premium and any administrative fees that may be due. If the premium or administrative fees are not paid by the date specified in the actuarial documents or policy, the insurance provider may assess interest on the outstanding premium balance. Notice of Damage or Loss: A written notice of damage or loss for each unit is to be filed by the policyholder within 72 hours of the policyholders initial discovery of damage or loss but not later than 15 days after the calendar date for the end of the insurance period unless otherwise stated in the individual crop policy. The policyholder should refer to the individual crop provisions for additional requirements in the event of damage or loss. These notifications provide the opportunity for the insurance provider to inspect the crop and determine the extent of damage or potential production before the crop is harvested or otherwise disposed of. Inspection:- After the insurance provider receives the written notice of damage or loss, it will be processed and, if necessary, a loss adjuster will be sent to inspect the damaged crop and gather pertinent information concerning the damage. If the policyholder wishes to destroy or not harvest the crop,the oss adjuster will gather the appropriate information, conduct an appraisal to establish the crops remaining value and complete any forms needed. If the crop has been harvested or will not be harvested by the end of the insurance period, and the policyholder wishes to file a claim for indemnity, the loss adjuster will gather the appropriate information and assist the policyholder in filing the claim for indemnity. It is the policyholders responsibility to establish the time, locati on, cause, and amount of any loss. Indemnity Claim:- After the claim for indemnity is processed by the insurance provider, an indemnity check and a summary of indemnity payment will be issued showing any deductions to the amount of indemnity for outstanding premium, interest, or administrative fees. Contract Change Date:- Changes to the insurance program may be made by RMA from one year to the next. The insurance provider will notify the policyholder in writing of any changes to the policy, actuarial documents, or the Special Provisions of Insurance prior to the calendar date for contract changes specified in the crop policy. The policyholder will have the opportunity to review the changes and, if he/she desires, continue the insurance coverage for the following crop year, change the policy coverage, or cancel the insurance coverage. Any changes to the policy coverage that the policyholder makes must be made no later than the crop sales closing date. If the policyholder wishes to cancel the policy, a written notice must be submitted to the insurance provider on or before the crop cancellation date. CHAPTER 2 Company profile TATA AIG INSURANCE COMPANY Tata Enterprises with 82 companies, spread over seven sectors and with an annual turnover exceeding US $ 8. billion, employs more than 262,000 people. Tata Group has shown over years that it is a value driven company and has pioneering contributions in various fields including insurance, aviation, iron and steel. In terms of capital market performance as many as 40 listed Tata companies account for nearly 5% of the total market capitalization of all listed co mpanies. The Group has had a long association with Indias insurance sector having been the largest insurance company in India prior to the nationalization of insurance. TATA GROUP IN INSURANCE: Tata AIG General Insurance Company Ltd, and Tata AIG Life Insurance Company Ltd. , (collectively Tata AIG) are joint venture companies between the Tata group Indias most trusted industrial house and American International Group, Inc. (AIG), the leading U. S. based international insurance and financial services organization. The Late Sir Dorab Tata, was the founder Chairman of New India Assurance Co. Ltd. , a group company incorporated way back in 1919. Government of India took over the management of this company as a part of nationalization of general insurance companies in 1972. Not deterred by the move, Tata group have ventured into risk management services having tied up with AIG group, back in 1977, with the incorporation of Tata AIG Risk Management Services Pvt. Ltd. The Tata Group is one of Indias largest and most respected business conglomerates, with revenues in 2006-07 of $28. 8 billion (Rs129,994 crore), the equivalent of about 3. 2 per cent of the countrys GDP, and a market capitalization of $72. 2 billion as on December 6, 2007. Tata companies together employ some 289,500 people. AIG: American International Group, Inc. AIG), is a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Defense, Paris, and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest company in the world. Company Background: AIG’s history dates back to 1919, when C ornelius Vander Starr established an insurance agency in Shanghai, China. Starr was the first Westerner in Shanghai to sell insurance to the Chinese. In 1962, Starr gave management of the companys less than successful U. S. holdings to Maurice R. Hank Greenberg, who shifted the companys U. S. focus from personal insurance to high. 1969. American International Group, Inc is the leading U. S. based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in over 130 countries and jurisdictions throughout the world. AIGs Life Insurance operations comprise of the most extensive worldwide network of any life insurer. AIGs global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, savings products. THE JOINT VENTURE: Tata AIG Life Insurance Co. Ltd. is capitalized at Rs. 185 crores of which 74 per cent has been brought in by Tata Sons and the American partner brings in the balance 26 per cent. Mr. George Oommen has been named managing director of Tata AIG Life. Tata-AIG plans to provide broad array of life insurance plans to cover to both individuals and groups. The company headquartered in Mumbai, with branch operations in Delhi,Chennai, Hyderabad, Bangalore Calcutta, Pune and Chandigarh. 3. 5. ABOUT TATA-AIG: Tata AIG Insurance Solutions is one of the leading insurance companies that provide both life insurance as well as general insurance. This pioneer company is a joint collaboration between the American International Group, Inc. (AIG) and Tata Group. They own the company in the ratio of 26:74. It is a leading financial institution that has carved a niche for itself all over the world. Tata AIG Insurance provides facilities to both corporate and individuals. Starting its operations on April 1, 2001, it seeks to serve different categories of people. It acquired its license for carrying out operations in India on February 12, 2001. Tata AIG Insurance Solutions is one of the most prestigious organizations in the business world. It employs thousands of employees and offers various opportunities to people to build a prospective career. As a leading name in the financial world, it identifies the potential and experience of the individual. This insurance company identifies the clients? needs and works accordingly. It stresses on innovative aspect and opening of new markets. It believes in new economy and latest Internet technology. Tata AIG Insurance offers a number of products for the General Insurance holders. General insurance products include:  · Individual insurance  · Small business insurance  · Corporate insurance Tata AIG Insurance offers flexible life insurance to the individuals, business organization and other association. For the corporate, there are various insurance products like group pensions, employee benefits, work place solutions and credit life. For the individuals, Tata AIG Insurance offers various products for adults, children and for retirement planning. SWOT ANALYSIS STRENGTHS: 1. No. 1 Private Player in the insurance industry in India. 2. Life Insurance linked with Investments 3. Tax benefits 4. Security against loans 5. Helps in future planning and provides financial consultancy. 6. Covers risk. WEAKNESS: 1. Negativity relating insurance and ‘Agents’. 2. No fixed Salary. OPPORTUNITIES: 1. High Network Individuals (HNI) 2. A clear career path 3. All round support through exclusive advertising, own in house consultant, and world-class training. 4. A comprehensive benefit package. THREATS: 1. Dynamic environment 2. Increasing Competition 3. Non-creativity 4. An Unfocused approach 5. Complacency and arrogance Chapter 4 Objectives of the study: The only purpose of undergoing this topic is to find out the details research on market of TATA AIG. * To know the awreness of the insurance product of TATA AIG IN AHEMDBAD. * To study of career path for business associates. Research METHODOLOGY Data can be classified under the two main categories, depending upon the sources used for the collection purposes, i. e. , ‘Primary data’ and ‘Secondary data’. The validity and accuracy of final judgement is most crucial and depends heavily upon how well the data is gathered in the first place. The methodology adopted for data gathering also affects the conclusions drawn there from. Primary data: Primary data are those data, which are collected by the investigator himself for the purpose of a specific enquiry or study. Such data are original in character and are generated by surveys conducted by individuals or research institutions. Thus we can say that the data that is being collected for the first time is called primary data. Methods that can be used for collection of primary data are as follows:  § Direct personal observation: Under this method, the investigator presents himself personally before the informant and obtains first hand information. This method provides greater degree of accuracy.  § Telephone survey: Under this method the investigator, instead of presenting himself before the informants, contacts them on telephone and collects information from them. Indirect personal interview: Under this method, instead of directly approaching the informants, the investigator interviews several third persons who are directly or indirectly concerned with the subject – matter of the enquiry and who are in possession of the requisite information. This method is highly suitable where the direct personal investigation is not practicable either because the informants are unwilling or reluctant to supply th e information or where the information desired is complex or the study in hand is extensive. Questionnaire method: Under this method, the investigator prepares a questionnaire containing a number of questions pertaining to the field of enquiry. Under this method, the investigator directly contact the person and collect the information through questionnaire related to the data. The aims and objectives of collecting the information, and requesting the respondents to cooperate by furnishing the correct replies and fill the questionnaire with correct information. The success of this method depends upon the proper drafting of the questionnaire and the cooperation of the respondents. Secondary data: When a person uses data, which has already been collected by someone else, then such data is known as secondary data. Secondary data should be used with extra caution since someone else has collected it for his/her use. Before using such data the investigator must be satisfied with regard to the reliability, accuracy, adequacy and suitability of the data to the given problem under investigation. Methods that can be used for collection of secondary data are as follows:  § Published sources: There are a number of nationalorganisations and international agencies, which collect and publish statistical data relating to business, trade, labour, price, consumption, production, etc. These publications of the various organisations are useful sources of secondary data.  § Unpublished sources: The records maintained by private firms or business houses who may not like to release their data to any outside agency are known as unpublished sources of collection of secondary data. Both ‘Primary data collection methods’ and ‘Secondary data collection methods’ have various advantages as well as limitations. Thus it would be prudent to use both these methods to one’s advantage. More of the primary data has been used in this project. INSURANCE ADVISOR IRDA TRAINING The Insurance Act, 1938 lays down that an insurance agent will be issued a license under section 42 of the Act, by the IRDA of an officer authorized by it in this behalf. Tata AIG offices and approved by INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA). A licence issued by the IRDA will be valid for three years. The licence may be to act as an agent for a life insurer, for a general insurer or as a â€Å"Composite Insurance Agent† working for a life insurer as well as a general insurer. An Insurance agent have undergone practical training for at least 100 hours in life or general insurance business. He should have also passed the pre-recruitment examination conducted by the Insurance Institute of India. An Insurance Agent have to give a demand draft for Rs. 1000 payable in favor of Tata AIG Life Insurance Co. 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