The Globalization And Localization Factors That Affect Next Marketing Essay

The Globalization And Localization Factors That Affect Next Marketing Essay In todays world international business have become easier because of the globalization. International business now has grown over the years because of the benefits it has offered to the world. In this report I will be focussing on the International strategies of the brand NEXT which has business. Next is one of the main fashion labels s and it is certainly one of the biggest Multi-national these days. This report will also focus on micro and macro factors that affect the company. Then I will be considering the globalization and localization factors that affect NEXT. Key environmental variables and core competence with relation to its international strategy. In the end recommendations would be made for the development of the companys international operations. Next was established in 1864 in Leeds as J Hepworth Son, Gentlemans Tailors. The company started with women wear store in 1982 and then gradually upgraded to men, children and interiors. The company was named NEXT in 1986. Now NEXT is a retailer based in UK. It offers its customers stylish and good quality products in different sectors like clothes, footwear and also home products. NEXT distributes its products to the customers by three main channels. These channels are the NEXT Retail, a chain of 500stores in the UK; and the Next Directory, which is a direct mail catalogue and transactional website with more than 2million customers and Next International, with more than 170 stores overseas. (www.nextplc.co.uk, 2009). According to Rugman Hodgetts (2002) International Business is defined as different forms of business transaction taking place across national borders for the purpose of satisfying the needs of individuals and organisations. International business has become more common in past few decades and it has helped many poor countries to grow and has allowed some developing countries to grow more. Across the border transactions have allowed the multi-national companies to reduce their production cost by going to the less developed countries where wage rate is lesser than their own countries. According to Griffin and Pustay (2006), International business consists of the business transactions which are made between two or more countries. For example NEXT buy material from a country and ship it to Srilanka or Bangladesh for stitching and then it goes to different countries to the retail stores of NEXT. Nexts mission is to be the first choice of its customers in the UK and overseas for people who want quality, style and affordable prices. In todays world fashion is changing very frequently so the retailers like Next have to offer its customers with the new products. They just want their customer satisfaction by providing them with the better quality and design with compared to their competitors. Next strategy is to target different group of customers who not only look for good quality but also the better prices. It offers its customers of different classes with affordable prices. According to Gerald Tellis (1989), price is a very important variable in forming a strategy for a business. The public policy makers main focus is to check if they customers are getting reasonable prices for the products they are buying or if they are getting value for money. Another point that he mentions about what the economists look at, if the higher-price products are of good quality or the retailers are charging their customers more than the product worth. Nexts strategy is, they always look for their customer satisfaction by providing them with the affordable prices and the modern style, so that they dont get disappointed. According to Antony Dnes (1995), franchising is a better way to expand your business. Better understanding of franchising could result in successful revival of a business. Franchising authority awards different franchises to the producers by offering them the lowest prices for specific quantity and quality. Next have 170 franchise stores in different countries and have different price ranges for different countries. Nexts Strategy: According to Nexts Annual report of 2009 (ir3.quartalflife.com), their main strategy is to achieve their financial objective which is the delivery of sustainable long term growth in their shareholders value. In 2009 their EPS have gone down, so it is very hard for them to cover up quickly so it is a bit challenging for Next. But they are confident that their long term objectives can be achieved by the strategies they have made after 2009. The board needs to manage its strategic risks to deliver the long term benefits to its stake holders. This strategy has just been planned on normal basis to know how to achieve their goals, but Next is facing challenges from its competitors for example Marks Spencer have opened a eco-factory in Srilanka which would help them reducing their cost, as the plant in that factory is solar so it would use less electricity. So Next has to come up with something special to cut down its cost of production and be able to achieve its financial objectives. Thei r main focus is to improve and develop their range of products in different parts of the world and keep its customers with in the fashion world. They have given their stores a demanding financial criteria and those stores must meet those figures before other investments are made. They are also trying to increase their customers who are shopping by using their Next Directory. They have also considered increasing their gross and net margins by better sourcing and controlling the cost of their products. Macro-environment According to Jobber D, (2007) macro environment consists of environmental issues that may affect business performances. This analysis takes into account those factors such as political, economic, social, technological, legal and environmental changes. For successful marketing strategy the company has to focus on these changes, bearing in mind that all these factors are interlinked with each other. Political/Legal The current economic condition faced by the world economy has forced the UK government to take serious notes on their legislations. For instance the recent decrease in VAT was a strategy to increase consumer spending, which was a positive implementation for the current economic condition, however, it did not affected a lot as the government failed to raise consumer lending by financial institutions. This failure of government approach affected NEXT as the peak season (Christmas Sale) went without high sales. Mr Wolfson (CEO) of Next plc has also mentioned the same situation in one of his interviews regarding government policy to tackle the economic conditions. (www.ft.com, 2009). The government latest intervention to kick start the economy was to cut down its interest rate to its all time low last month. The company can benefit from it as it has the opportunity to borrow the money at a very less interest rate. Moreover, NEXT has also got opportunity to attract more investment through share in the stock exchange, as savers will be more willing to invest their money instead of saving it on such a low rate. Economic Since the end of the year 2007 and early start 2008 the world economy was struck by reverse economic condition since 1990. With less consumer spending and global financial institutions collapsing it has resulted in Next share prices plunging. Current affairs show that Next need to survive the economic turbulence instead of its growth. However, companys branding and well established customer loyalty will help the company to survive in this downturn. Socio-culture Speaking of the socio-cultural future it should be mentioned that people retire earlier these days, as well as working shorter hours. Average working hours per week have decreased over the last 20 years. As a result many people have more spare time. This means they have time to compare prices in the High Street and the quality of goods and services from retailers. But as a result, they spend more time in the shops. Another issue these days is the Child Labour. Due to efficient media consumer are well informed and therefore this awareness challenges them to care. They dont want to buy just a product but they look beyond into the production process, labour used, etc. That leads to the issue of child labour in the clothing retail sector. There are companies who rely on it in order to be competitive in the domestic market. For example Marks Spencer had been accused of using child labour in Indonesia in 1999. Once the customers become aware of such practices, companies get into real trouble if they do not respond immediately. Consumers do look for best price but not at the cost of their ethics. NEXT has taken a good care of this and is never found involved in this. (www.hausarbeiten.com, 2009). Environment After looking at the current position and the threats from the different green organizations regarding global warming NEXT has taken many environmental friendly steps. Firstly its 98 stores recycle cardboard and plastic. Annually 11,935 tonnes of cardboard and polythene is recycled that is reused in making 12 million hangers. It has also decreased 7.1% carbon dioxide emission per 1000 parcel delivered/collected. (www.nextplc.co.uk, 2009) Technology Next is equipped with the latest technology in order to compete with their competitors. They have a team of 100 technologists to ensure that they sell safe products. Their technologists have developed specific manuals for the suppliers to ensure they comply with the law and safety and performance standards. (www.nextplc.co.uk, 2009) Micro-environment: According to Jobber (2007), micro-environment consists of the actors in the firms immediate environment that affects its capabilities to operate effectively in the chosen market. The main factors are customers, suppliers and competitors. Customers: According to Jobber (2007), customers are at the centre of the marketing philosophy and effort. So it is very important to satisfy your customers and understand their actual needs. In 2003, the main customer for NEXT were aged 25-44, but in 2008 that has changed to 20-34-years-old (www.nextplc.co.uk). Therefore, it seems to be that the NEXT is now attracting more young customers. The next always had good quality, good reputation and excellent customer service. The other is that they have also varied their product and introduced more style into it. Its online service is also becoming popular. Suppliers and Distributors: According to Jobber (2007), business is really influenced by the suppliers of a company. Next wants its suppliers to work with them closely, and they are committed to provide their customers with the products which are made in tidy and safe environment. Their main aims are to communicate their moral standards to the suppliers, and to promote good work places in the countries where their suppliers are, and to build capacity with the international chain of suppliers. Next by itself is a retailer so it reaches its customers by franchises and online web orders. It has also the Online Web directory, from where its customers can buy the products they want and also they have broachers and catalogues to sell their products to the end customers. Competitors: Next has two main competitors Debenhams and Marks and Spencer Group. Due to the recession many multi-nationals sales and their profit has gone down, and now they are making strategies to achieve their objectives. Because of the recession companys were unable to achieve their planned growth and targets. Because of economic downturn many companies have fallen to make cuts in their aspects of business. This could be a good short-term solution but it could cause problems for providing the customers with the quality and efficiency they want in the products. MSs net profit has gone down in 2009 if compared to 2008s figures. In 2008, its Net profit was  £821m which was recorded as  £506m and their earning per share has also dropped by 35.7p per share, as it was 43.6p in 2008 where as in 2009 it was recorded as 28.0p. But they are now trying to cover up their net profit of last year by eco-factory in Srilanka which would help them save their costs of production as it uses the solar power so it would use less electricity. They have planned,(Plan A) to response to the challenges and has set sustainability targets for 2012, and the commitments to achieve their goals. They have now started online international delivery to 80 countries, which could help them gain more customers all over the world as people would not have to visit the store or if they do not have any store nearby they can still get the MS products online (corporate.marksandspencer.com). Debenhams Annual report for 2009 shows that its net profit and EPS have grown as compared to 2008. Net profit was recorded as  £95.1m in 2009, whereas in 2008 it was  £77.1m and their EPS was noted as 10.0p in 2009 and in 2008 it was 9.0p per share. Their main strategy to boost up their business in the future is to have more space for their stores, have multi-channel expansion and balance sheet optimisation, which would help them. In this era of recession Debenhams have managed to make more profit then the previous year by their strategies. According to their report of 2009, market shares gains have been achieved on a regular basis for some two years. This shows that they have been planning for their business very well so that they can overcome any hurdle. (www.investis.com) If we see the financial report of Next for 2009, it is a bit disappointing for them as its Net Profit has gone down from  £353.9m to  £302.3 in 2008 to 2009 respectively. And the EPS has dropped by 12.7p per share as it was 168.7p in 2008 and in 2009 it decreased to 156.0p per share. (ir3.quartalflife.com) Globalization Localisation drivers: According to Ricky and Putsay (2006), international business has grown very quickly in the past ten years that many experts believe this era to be the era of globalization. According to him Globalization can be defined as the inexorable integration of markets, nation-states, and technologies. Globalization has now enabled the people to reach around the world more quickly and cheaply than ever before. The world is getting closer day-by-day in terms of business, now it is normal that a company would do business with companies in other countries. It has now led to the escalation of international trade in the economies of the world. Next has been very benefited by the globalization as it has been able to get the products stitched at very cheap price from the Asian countries. Globalization drivers Next understands the needs of its customers from different areas of the world and offer them with affordable prices. Next have very effective marketing channels like accessing the customers via internet, fashion magazines, TV etc. According to Simpson and Thorpe (1999), understanding differences between customers and difference in terms of product and service expectation is very important for international expansion. Next understands the need of its customers and provides its customers with the up-to-date fashion and it keeps them with the rapidly changing style with affordable prices. According to Ricky and Putsay (2006), importance of the foreign direct investment is also increasing because of globalization. It was just 2.4% in 1980 but by 2004 FDI equalled almost 22% of years GDP. It can help the business to grow internationally and earn more profit for the company. FDI can help the business in different ways. For example if Next goes to do business in Pakistan, the currency fluctuation would help Next, as in when it invest in Pakistan it would invest in Pakistani rupees and after getting the product and selling here in UK in pounds would definitely help to boost their sales profits. They would get cheap labour in Pakistan so they would save their production cost. As Pakistan is still a developing country so it would want multi-nationals to invest there, and they may provide Next with Tax Subsidiary for some time. Core Competence: According to Ricky and Putsay (2006), a core competence is a distinctive strength or advantage that is central to a firms operation. The companys main strength would be its core competence over its competitors. The company needs to identify the things they do well. Nexts core competence over its customers is it targets a wide range of people from different classes by offering the products and style they want with affordable prices. They also have been focussing on expanding their business in different parts of the world through franchising. It has also created its brand image overseas, which is very important for a company. According to Keller (1993), brand image is perception about a brand as reflected by the brand associations held in customer memory. Nexts brand image helps the business to grow much faster for example if a person has a good perception of Next in his mind, he would tell his friends and the people he knows to buy its products, which is a very efficient way of market ing. Next has an edge over its competitors that it is targeting the market which comprises of mainly the youngsters. As youngsters are more into fashion then anyone so it helps Next to get more customers then its competitors. As mentioned earlier, Next strategy is to provide its customers with the quality and style they want with affordable prices whereas if we look at the prices of its competitors, they target higher class. Recommendations: Next should try to bring more innovation in cloth manufacturing because by doing this they could attract more and more young customers to buy their products and also concentrate on the changing trends in the fashion world. Because of the economic crisis all over the world people do not want to spend more, so Next should do price cutting in their products and have promotional offers in the store to attract more people. Next needs to follow its competitors, as it is the era of global warming, so they should work on making the world eco-friendly by building plants like MS did, it would also reduce the production cost for them. To promote its brand Next could also target the markets where they have suppliers and the neighbouring countries for example if they are manufacturing there products in Bangladesh, they could target the neighbouring countries as there are a lot of emerging economies so it would help them grow their business in those economies. And if they promote their business in countries like Pakistan where they would not have a lot of competition as Next has a well-known brand name and the competitors would not be able to compete with their strategies and they could make much profit from these types of markets.

Education Policy In Bangladesh Essay

Introduction â€Å"Insurance is a way of protecting against these financial losses†. â€Å"General insurance or non-life insurance policies, including automobile and homeowners Policies provide payments depending on the loss from a particular financial event†. Anyone who owns an asset can buy insurance to protect it against losses due to fire or theft And so on. Each one of us can insure our and our dependents’ health and well being through hospitalization and personal accident policies. In this report we tried to show that how general insurance business operates in Bangladesh & how important it is for economy & what types of problem it faces in our country. Objective of the Study Primary objective The main objective of the study is to know how the insurance business works in our country. Secondary objective: The case study has the following objectives: To know about the insurance company (Based on three insurance companies.) To know about general insurance & its classification. Company Overview Green Delta Insurance Company Limited (GDIC) is one of the leading private non life insurance companies in Bangladesh. GDIC was incorporated in December 14, 1985 as a public limited company, under the Companies Act 1913.  Actual operations started on 1st January 1986, with a paid up capital of BDT 30.00 million. Now, Green Delta Insurance Company Ltd. is amassed about BDT 637.875 million with a credit rating of AA1 and ST1. GDIC holds the proud distinction of being the first ever company to raise its paid up capital to such a level. This is also the 1st Insurance Company in Bangladesh to have equity partnership with IFC. With a presence in the strategically important parts of the country, which includes 38 branches, Green Delta Insurance Company Ltd. has established its prominent presence with equity participation in Delta Brace Housing Ltd., Progressive Life Insurance Co Ltd, United Hospital Ltd. Fin Excel Ltd. and BD Venture Ltd. Green Delta Capital Ltd. and Green Delta Securitie s Ltd. are two of the direct subsidiaries. GDIC provides stock brokerage services through Green Delta Securities Ltd. (GDSL) and investment supports through Green Delta Capital Ltd. (GDCL). As a part of the recognition for the contribution in the development of the insurance industry and for maintaining the standard of service, the company has been considered as one of the top 500 companies according to the renowned Rating Agency, Dun Bradstreet Rate Agency of Bangladesh. The company has also been awarded with many national and international awards like –‘’ICAB National Awards’’ for Best Published Accounts, ICMAB Best Corporate Award in Insurance category, ‘‘Certificate of Merit’’ for the Best Presented Accounts Award in the category ‘Insurance Sector’ by the South Asian Federation of Accounts (SAFA), ‘‘International Quality Crown Award’’ by BID International in London, The BIZZ Award by World Business confederation of Business, USA for leadership, Excellence in a management, Quality and Marketing, ‘‘The Diamond Eye Award For Quality & Excellence’’ by BID OTHERWAYS, The Platinum Technology Award for Quality & Best trade name by Association Other Ways in Berlin, International Star Award for Leadership in quality in the Gold, Platinum and Diamond categories and many more. With the slogan â€Å"Marches with time† – during the last 28 years – GDIC has been helping people in their time of need; pulling out all the steps when needed, and has been proud to be a partner in progress. Our Vision Our vision is to mature into a sustainable, coherent organization, raise competitiveness to the highest level in the insurance industry, maintain  high profitability & balanced quantitative growth and exceed customer’s expectations by offering legendary services, embrace a new corporate identity and creative corporate culture. Our Mission Our mission is to create shareholders value through customer’s satisfaction and employee’s commitment to excellence. Our Strength Constant pursuit of suitable strategies has made the company the leading insurer of Bangladesh for over two decades. Our Belief We believe that client must stand at the center of our all activities. We have the ability to optimally fulfill the client’s needs based on risk management with minimum cost and personalized services Finding: Products & Services Corporate Risk Management Industrial All Risk Insurance including Machinery Insurance and Business Interruption Property All Risk Insurance including Business Interruption Electronic Equipments and Computer Insurance Professional Indemnity Insurance Comprehensive Machinery Insurance Comprehensive General Liability (CGL) Product & Public Liability Insurance Directors and Officers Liability (D&O) Fire and Allied Perils Insurance Marine Cargo and Hull Insurance Financial Cash-in-safe, Cash-in-transit & Cash-on-counter Insurance Portfolio Cover Credit Card Indemnity Insurance Bankers Blanket Insurance Bank Lockers Insurance A.T.M. Booth Insurance Banc assurance Retail & SME Fire and Allied Peril Insurance Marine Cargo and Hull Insurance Personal Accident Health Insurance Overseas Mediclaim Insurance Micro Insurance Micro Health Insurance Nibedita-Comprehensive Insurance Policy for Women Household Insurance Motor Insurance Peoples Personal Accident Policy Comprehensive Travel Insurance Conventional Aviation Insurance Automobile Insurance Workmen Compensation Insurance Miscellaneous Insurance Engineering Insurance (Erection all Risk, Contractors all Risk, Deterioration of Stock & Boiler & Pressure Vessel Insurance, business intemiption Crop Insurance Nlbedlta-Comprehensive Insurance Policy for Women Weather Index Based Insurance Investment & Portfolio Management Underwriting Pre-IPO placement Syndication Trusteeship Green Delta Insurance is known for its innovation and services. Today ´s competitive insurance market is driving the market to think and Winovate now products and services and GDIC have been doing with its authentic. Beside the Traditional insurance portfolio GDIC introduced following personal line of products in last year and some them are in pipeline: Health Insurance Household Insurance Nibedita-Comprehensive Insurance Policy for Women Cellular Phone Contingency Insurance Weather Index Based Insurance Personal Accident Insurance Policy for Migrant workers It is matter of great pride that GDIC has introduced an insurance product first time ever in Bangladesh which is designed only for the females named as Nibedita-Comprehensive Insurance Policy for Women. GDIC has also designed first ever Weather Index Based Insurance for the farmers of Bangladesh which will be launched shortly. In Briefly Fire Insurance Basic cover: Fire Lightning Explosion(domestic) Damage during or immediately following Fire caused by – smoke, scorching, Falling walls, water used for extinguishing Fire, blowing up building for preventing Spread of fire. This coverage can be extended to include other perils by the additional premium; Riot, Strike Terrorism Storm, Flood Subsidence Landslide Aircraft damage Bursting or overflowing of tanks. Health Insurance The health policy provides for reimbursement of hospitalization/domiciliary hospitalization expenses for illness/disease suffered or accidental injury sustained during the policy period. Under this scheme the expenses for treatment in a hospital for an illness or injury are insured. It does not cover for any expenses in respect of domiciliary or outdoor treatment. Covers: Hospitalization due to accident or illness. Ancillary services like ICU/CCU room, post-operative room, blood transfusion, special investigations, etc. Labor room services. Intensive care facility. Oxygen therapy. Skilled nursing services. Blood transfusions. Ambulance services. Dressing while in confinement and test other than the routine investigations. Marine Insurance The oldest branch of insurance. Comprises: a. Cargo Insurance. b. Hull Insurance. Lloyd ´s is the famous world ´s Marine insurance market. Marine Insurance Act 1906. HULL INSURANCE Concerns the insurance of ships. Hull, machinery etc. CARGO INSURANCE Plays an important role in domestic trade as well as international trade. Provides insurance cover in respect of loss of or damage to goods during transit by –rail, -road -sea -air Burglary Insurance Scope of Cover Lost by burglary Housebreaking following upon an actual forcible and violent entry into or exit from the premises by the person or persons. Then the company will pay to the extent of such loss to the extent of the intrinsic value of the descriptive value of the insured. Exclusions: Theft by persons lawfully on the premises. Any legal liability, Loss or damage during the progress of or following upon fire or explosion. Earthquake, war, Riot, Civil war, Invasion etc. Uncover able property: Deeds, bonds, stamp collections, bank or currency. Theft by persons lawfully on the premises. Any legal liability, Loss or damage during the progress of or following upon fire or explosion. Earthquake, war, Riot, Civil war, Invasion etc Company overview Delta Life Insurance Co. Ltd. established mainly through the initiative of a group of Bangladeshi professionals then working abroad along with a few enthusiastic local entrepreneurs, started its operation in December, 1986 after the Government of Bangladesh allowed the private sector to operate in the insurance sector in 1984 to carry on the business of insurance in the Private Sector. A brief explanation as to the growth of life insurance business in Bangladesh is in order here. Bangladesh declared independence from the Pakistani rules on March 26, 1971 following which she had to witness a bloody liberation struggle with the occupation forces lasting for 9 months before they were defeated. Insurance business which was exclusively carried on in private sector before independence was nationalized after liberation in 1972 primarily to address the emerging situation of eroding public confidence in the industry that was left staggeringly short of resources in the face of huge losses caus ed by the war of liberation. After a series of experimentation, a state-owned body, namely Jiban Bima Corporation (JBC), established in May, 1973 for transacting the life insurance business, took over the assets and liabilities under life portfolios of all erstwhile private insurance companies and started business in its own name. Since inception, Delta Life set before itself a high  standard of all round performance coextensive with professional soundness and proficiency. It soon made a mark in the life insurance arena by not only being the leader among the private sector indigenous companies, but by undertaking and successfully implementing innovative and welfare oriented life insurance schemes. It introduced an array of conventional life and group insurance products – many of which were the first in Bangladesh. For the first time, health insurance products were also introduced by Delta Life. But more importantly, in fulfillment of the avowed commitment towards social development, Delta Life for the first time not only in Bangladesh but probably in the World, devised and introduced micro-life insurance-cum-savings products specially suited to the needs and pockets of poor people of the country who constitute more than 80% of the people of Bangladesh. Two projects of the company namely Grameen Bima for the rural people and Gono Bima for the poor and marginal savers of the urban areas were initiated to devote them slave exclusively to marketing and management of these innovative products. We are happy to report that we have achieved a good measure of success although there is a long way to go. These schemes that we have introduced have created great stir and enthusiasm among the general mass who, before these projects started functioning, could not even dream of owning a policy that provides the much needed life insurance coverage along with facility of regular savings on a long-term basis. At a later stage i.e. in the year 2002, the projects were merged into a division of Delta Life, namely, Gono Grameen Bima Division. The GNGRB Division has been growing at a first rate of more than 25% p.a. for the last couple of the years and is poised to maintain this growth rate at least in the next five years or so. Delta Life can take pride in moulding the saving habits of the lower and middle class people and transforming them into prospective policyholders. The potential is now so strongly perceived that all life insurance companies – old and new alike – operating in the country have started their own micro insurance products. Finding Ordinary Life Insurance Delta Life offers a wide variety of ordinary life product/plans ranging from the most common endowment type to more modern and sophisticated plans like endowment with open term, pension plan with built in provision for  increasing pension, increasing protection with provision for premium refund etc. The plans have been designed keeping in view the diverse and multifaceted needs of the insuring public belonging to different strata of the society. Some of the popular plans are briefly described below. Group Life Insurance Group Insurance is an instrument for providing life insurance coverage (protection) to a number of individuals under a single contract (policy) who are associated together for a common interest other than insurance. It is the most cost effective means to provide immediate financial support to an insured member and/or his family in case of devastating events like-death, disability, disease as well as retirement. Group Insurance has already established its importance as a component of â€Å"Employee Benefit Package† in Bangladesh. Exclusive features of Group Insurance are: Insurance coverage to a number of individuals under a single contract. Simple insurable conditions Easy administrative procedure Prompt claim settlement Affordable premium Tax exemption on premium Delta Life offers a host of Group-Life Insurance schemes from which an organization/ employer may choose for benefits of its members/employees, as may best serve their interest according to organizational setup. To be treated as a group, the following criteria need to be fulfilled. A â€Å"Group† Should comprise of at least 15 members It should be a legitimately organized body Group clients of Delta Life Insurance Company Limited include: Semi-Government organization, autonomous bodies Private, Non-Government Organizations (NGO’s) Educational & Financial Institutions Public Limited Companies Associations, Business organizations etc. Group Life Insurance Schemes offered by Delta Life are of two types: Traditional Schemes: For insurance coverage of members/employees of a Group Exclusive Schemes: For insurance coverage of clients of Financial Institutions Traditional Scheme: These are the commonly offered â€Å"Group-Life Insurance† schemes and are also known as Basic Schemes: These are: Short Term Contract Group Term Life Insurance Scheme (GT) Group Term Life with Premium Refund Scheme (GTR) Long Term Contract Group Endowment Life Insurance Scheme (GEN) Group Pension Scheme (GP) There are several variants of Basic Schemes. Examples of two variants of GTR are GTR-100/10: Group Term Life with 100% Premium Refund after 10 years GTR-50/10 : Group Term Life with 50% Premium Refund after 10 year Health Insurance Health Insurance is now considered indispensable in developed countries. In the present financial-social perspective of Bangladesh as well, Health Insurance has now become an essential, dependable, acceptable and the most cost effective means to make the modern treatment facilities affordable to all socio-economic classes of people, especially the fixed income group. As a pioneer of Health Insurance in Bangladesh, Delta Life Insurance Company offers several Health Insurance Schemes, which are as follows: Hospitalization (In-patient) treatment coverage plans Hospitalization Insurance Plan (Group)- offered to Members of a group and their dependants (if desired) Hospitalization Insurance Plan (Individual) – offered to an Individual as well as his or her dependant family members also known as â€Å"Delta Care Hospitalization Plan†. Out-patient treatment coverage plans Out-patient Insurance Plan – Offered as an adjunct to Group Hospitalization Out-patient Management Plan – Offered as an adjunct to Group Hospitalization Overseas treatment coverage plan for travelers Overseas Medicliam Policy (OMP) – A pre-requisite for visa application offered only to Individuals traveling abroad. Hospitalization Insurance Plans Covers in-patient (Hospitalization) treatment expenses of an insured member Expenses Covered under Hospitalization Insurance Plans Hospital Accommodation Consultation Fee Medicine & Accessories Medical Investigations Surgical Operation Ancillary Services like Blood Transfusion, Ambulance Service, Dressing etc. General Features of the Scheme No need for preliminary Medical Examination during enrolment. Treatment coverage round the clock inclusive of Accidents and Emergencies. Coverage offered to Bangladeshi National as well as resident foreigner. Treatment at any renowned hospital or clinic by consultant of own choice. Preferential service at Designated Hospital. Direct payment of treatment expenses by the company at Designated Hospital. Reimbursement of expenses for treatment at non-designated hospital. Membership ID card for each insured to facilitate preferential services. Option for Maternity Benefit and Overseas Treatment coverage. Provision for inclusion of Spouse & Children under the plan. Provision for inclusion of new member under the plan. Coverage up to 65 years under Group HI & 60 years under Individual HI plan. Two types of plans with several benefit grades to choose from. Option to choose more than one grade according to status of the members of a group. Option to alter benefit grade during renewal. Gono Grameen Bima Delta Life first launched Micro-insurance product in 1988 through its Grameen Bima Project (GRB) to cater to the necessity of economic protection against premature death and of disability as well as providing a way for regular savings for the poor and low income group of people living in villages. Later it started another project in 1994, namely, Gono Bima (GNB) for the urban poor and the low income class. These projects are now merged under the  name of Gono-Grameen Bima Project (GN-GRB). The initial problems apart, the project started to yield impressive results right from the beginning by creating great interest among the target population who could not even perceive an institutional arrangement through which the ever present problems of insecurity of life could be addressed. To suit the needs and pockets of the target people, and for efficient management of these portfolios, some of the age-old traditional concepts of carrying on life insurance business had to be diluted and in some cases replaced by simple and straightforward practices. Yet, the results are so encouraging that Delta Life is now regarded far and wide as the undisputed leader espousing the cause of welfare of teeming millions and its experiences are now used to advantage not only by indigenous companies but also other micro-savings organizations abroad. Target Group and the Product In GN-GRB the formalities are minimum. Insurance Cover is given under Group Insurance concept. A person interested in a policy submits a simple two-page proposal form; it is signed or thumb imprinted by him or her. There is no need for medical check-up. The person needs to be between 18 and 45 years of age, have a monthly income of Tk. 5,000.00 (US $100.00) or less, be of good health and supply a Declaration of Good Health (DGH) at the time of submitting the Proposal form. Death through pregnancy complications within the first year of the policy and death through suicide in the first year of the policy are not covered under an â€Å"exclusion clause†. Simple endowment with profit policies are offered for 10 and 15 years term both with premium payment mode being weekly or monthly. Premium rate is the same irrespective of age at entry. Besides this plan, new plans like three-payment plan with 12 and 15 years term and double protection endowment plan have recently been introduced . Policy Documents Upon acceptance of the proposal, a pass book is issued to the policyholder detailing all terms and conditions of the policy. The pass book serves as the purpose of recording of all payments made by him towards the policy. There is one group policy document for the policyholders of each Thana or Block. For individual policyholders the passbook serves as policy document. Micro Investment (Loan) GN-GRB gives small project loans to its policyholders on a group liability basis. No collateral is required. There is 20% service charge on the loans, which is calculated at a flat rate and added to the principal amount. The loan, together with the service charge, is repayable in 12 equal monthly installments. The repayments are collected from door to door by the organizers. Recently a decision has been taken to establish small collection booths in the villages. A person must be a policyholder and pay premiums for at least one year before being eligible for a loan. The maximum loan given is Tk. 5,000.00 (US $100.00) per policyholder. The loans are for income generating activities (IGA) only. Policyholders form a committee of 5 to 7 members. 3 policyholders selected by the committee are given the first loan. After recovery of 3 installments from each of the first three borrowers, the next 3 are given their loans and so on. As a general rule, 60% of the premium income of an area and 40 % of the repaid loan of an area are available for loan in that area. Also 100% of premium collection of a committee is available for loan to that committee. Company overview Crystal Insurance Company Limited is one of the leading general insurance (Non Life) company in private sector in Bangladesh. The company transacts a wide range of General Insurance business in Bangladesh and expertise in the field with sound and stable financial position. Our Mission To provide prompt, efficient and professionalized services for maximum risk coverage of the insured. To provide insurance coverage at the most competitive premium rate ensuring maximum security. To promote Human Resource development and professionalism in insurance business. To settle insurance claim promptly. CICL believes in the quality of the deals struck rather than the quantity of it. With our knowledge and expertise it is our commitment to the insuring community to deliver them the highest standard of security and professionalism. Finding Fire Insurance Fire Insurance Policy (including R & SD, Flood, Cyclone & Earthquake coverage) Industrial All Risks (IAR) Engineering Insurance Machinery Insurance {Machinery Breakdown Policy (MBD)} Deterioration of Stock (DOS) Boiler and Pressure Vessel (BPV) Electronic Equipment Insurance (EEI) Erection All Risk Policy (EAR) Contractor’s All Risk Policy (CAR) Motor Insurance Motor Insurance for Commercial Vehicle Motor Insurance for Private Vehicle Motor Insurance for Motor Cycle/Scooter Marine Cargo Insurance Marine Cargo Insurance transit by Steamer or Power Vessel Marine Cargo Insurance transit by Rail/Lorry/Truck Marine Cargo Insurance transit by Inland Rail or Road Conveyance Marine Cargo Insurance transit by Inland Cargoes (water borne) Marine Cargo Insurance transit by Air Cargo Miscellaneous Burglary & House Breaking Insurance Cash-in-Safe Cash-in-Transit Cash-in-Premises Cash-in-counter People personal Accident Workmen’s Compensation Policy Business Interruption Overseas Med claim and Holiday Insurance Public Liability Policy Product Liability Policy Consequential Loss Householders Comprehensive Policy

British Petroleum

Takeover refers to the purchase of one company by the other and technically deals with acquisition of a listed company by one or more companies which are at better financial and economic position than the company being acquired. BP is on verge of a takeover and the following paper presents analysis of the company. The company is British owned and it has branches in various countries around the globe.The institution is found in energy industry and its one of the biggest and most valued energy supply and distribution institution in the world. Theoretically the history of the company is very complicated as it’s very rich, varied and unique status. The following paper gives complete analysis of problems facing the company especially the one involved before and after the drastic oil spill in the Gulf of Mexico and consists of references to various journals, business literature, and scholarly literature materials.This paper describes the activities and discusses the conventional rea sons for a takeover, their advantages and disadvantages, and strategic considerations that can be made to prevent a possible takeover. Introduction British petroleum (BP) company is an international energy production and supply company with its head quarters London, United Kingdom. By margin BP is the 3rd largest energy company and the 4th biggest company in the world (Datamonitor , 2009, p, 45).The company has operated in the energy sector for many years and it has gained reputation of being trustworthy thus it has instilled consumer loyalty across the spectrum. This company has experienced rapid changes and advancements in science and technology and presents numerous challenges to the company in relation to personal safety and quality management and also it entails issues like production costs, intellectual ownership of properties and products, competition and monopolies.The company is public held and its shares are traded in major stock exchanges globally including the London sto ck exchange, New York Stock Exchange and other stock exchanges in major cities all over the world with the trading symbol BP (Coffee, et al, 2000, p 98). The organizational original mission was to provide consumers with the right assortment of products, at the right quantities and price, and to provide excellent customer service through trained representatives.The organization current mission is guided by key core values: excellent customer service, care for people, entrepreneurial spirit, respect for all, building strong relationships, doing the right thing, giving back to communities, and creating shareholder value (Weston,2000 ,p ,87). BP success is based on mutually beneficial partnerships with diverse and competitive suppliers, allowing the company to deliver a wide assortment of superior, yet low-cost products and services, combined with superb customer service, and focused towards increasing shareholder value.The company employs over 210,000 employees and tends to serve more than a 300 million customers worldwide (Van & Schroeder, 1984, p 29). With the current problems facing British Petroleum in the Gulf of Mexico following the deepwater rig explosion which was caused by what has been described as the worst US ecological disaster ever, the Company's share price has fallen steeply and according to some commentators this could trigger a takeover of the business by one of its big competitors such as EXXON MOBIL, SHELL or even PETROCHINA (FINANCIAL TIMES, 2010, p 34).The catastrophe has plunged the company’s stock price as well as its reputation, and public image following the catastrophe have led to speculation regarding the company takeover due to the fact that the company is experiencing financial problems, huge losses as a result of oil spill and poor handling and management of the oil spill (Armstrong, 2003, p, 23). The above mentioned issues have been viewed by many to have been caused by poor leadership and decision making techniques in regar d to the way the management handled the oil spill.With the current troubles facing British Petroleum (BP) in the Gulf of Mexico, there is possibility of acquisition or takeover and hence a research paper which tries to come up with the relevant information in trying to establish some of the major factors that have been influencing the anticipated takeover (Ansell & Park, 2003, p 47), Identification of Industry and possible takeover Competitors The company is found in the energy industry and mainly concentrates in oil exploration, supply, and distribution.The industry deals with all assortments of energy products including oil, wind, solar, hydro power and other related energy products and services. This industry is one of the most contended ones with many rivals who produce similar products and services . The top competitors of BP include EXXON MOBIL . SHELL and PETROCHINA; with SHELL being the strongest rival of BP (Maxwell , 2002, p, 29). The company has a global presence and has assets in most areas of Africa especially central and western Africa, China and South American states like Venezuela and Uruguay, but the United States and Russia are its largest market.As mentioned earlier, BP is the third largest energy company in the world and the fourth largest company in the world (Kwon, 2008, p, 87). The possible competitor for the takeover has been indentified to be Exxon Mobil for the reason that the company is American owned and its operations and performance over the years have been above par compared to other rivals. Companies like Shell and Petro china though internationally recognized, their operations are not augmented like those of Exxon Mobil (Johnson, 2010, p 19). Description of the Organizational ProblemsDifferent organizations experience different problems depending on the nature of the organization, the economic situations, the political interruptions, and the human interference. Once these problems occur within a corporation, it tends to affects the organization core responsibility to extent of being unable to provide adequate and quality services to its clients and individuals relying on it. The occurrence of these problems can be a very damaging issue if they are hard to evaluate and solve (Kesler, 2008, p 49).With the British Petroleum (BP) company, there a number of issues and problems that has been constantly hounding it. Most of the organizations problems and causative agent for the possible takeover have possibly resulted from the oil spill in the Gulf of Mexico and lack of teamwork and capacity building in relation to the employees during the fixing of the oil cap to reduce massive leakage. Due to this, there have been reduced prices of the company’s stocks all over the world due to market fears of possible losses and public loss of confidence in the company.The increased failed management in the corporation resulting from the management poor skills in handling crisis has sometimes been leading its operation s to the wrong direction. The poor handling of the oil spill by the company executives is one good example of the management laxity and the probable cause of the proposed takeover . It must be agreed that BP has been faced with lack of skilled and effective managers offering effective managerial services thus leading it into poor leadership and decision making processes (Lochhead, 2009, p 67).As we have noted, most of the problems faced in this organization have been caused by the oil spill and ongoing economic recession, and others are related to inability of workers to work together. Since there was poor handling of the oil spill, the company has been in bad relationship with the neighboring community and it has not been able to fulfill its social responsibility function due to constant bickering and interference from the American government (Snell & Dean, 1992, p 50).In conclusion, the major issues contributing to the proposed takeover of BP is the matter of financial problems re lating from the management of the oil spill, whereby the company has spent billions of shillings in controlling the spill and eventually the company has been forced to sell some of its assets in Russia to cover the costs, and this has not been going well with majority of shareholders due to fact Russia is one of its biggest market. Lack of trust from consumers and American government is another factor that has led the company to opt selling its assets to its competitors (Maxwell, 2002, p 98).BP Proposed Takeover Definitively, takeover refers to purchase of one company by the other and technically deals with acquisition of listed company by one or more companies which are at better financial and economic position than the company being acquired. Takeover occurs in situations where a company wants to save itself from financial problems and also happens in situations where the company wants to secure limited market, channels of distribution, consumers and supplies.In any kind of organi zation, takeover or acquisition are quite significant since they play a major role towards the overall achievement of the given business or organization. This has to be done in a delicate manner that ensures all areas and aspects of the organization have been greatly considered. When the issue of takeover is being discussed about in a given business or any other kind of organization, it is very important to think of the manner in which the operation will be coordinated and thus employ the necessary personnel and practices which shall promote the performance of the organization .It is important to note that, without managing the human aspect and all other resources being utilized in the business, it may not be possible to achieve the goals and missions of the organization (Stern & Chew, 2003, p 90). One of the major reasons for British petroleum proposed takeover is as a result of the financial and social problems resulting from the oil spill in the gulf Mexico. From â€Å"NEWSWEEK Journal of 04. 06.2010, the spill has costed the company sums of money to the tune of over 19 billion dollars covering both the cost of cleanup and compensation to individuals affected and penalties to the American government. The performance of the company has dwindled in the recent days and in the first quarter of the year; the company has made losses amounting to over 20 billion dollars. Since corporate takeover entails two key types that include hostile and friendly takeover, BP takeover assumes that of hostile nature for the reason that the company is unwilling to engage in any dialogue relating to acquisition of its major assets.Hostile takeovers generally occur in situations where the board of directors is unwilling to relinquish its position and the company, while the company is performing way below par in terms of operations and financial management. This is the case with BP since the company CEO Tony Hayward has not viewed it has a possibility and has publicly stated that on a number of media outlets. A takeover in ensuring there is such form of safety can basically include a number of one or more different components within the totality of the institutionalized system.Such safety provisions include change in an organization and necessary management, safety policies, organizational procedures, and other emergency procedures and responses which have been put in place (Liu, 2006, p, 65). Advantages of BP takeover 1. One major advantage of BP proposed takeover is that once realized, the firm which was poorly managed prior to the acquisition will undergo valuable management and performance rectification due to changes that will occur in its management structure .The changes in corporate structure including modification and replacements of executives and senior staff will guarantee and repair the organization dented reputation. For the reason that the organization acquisition will involve a moderate debt to equity ratio, the company will also negotiate th e acquisition deal since it poses a controlling stake in the global market (Van & Schroeder, 2008, p, 20).The company goodwill in the world is very highly rated and possible acquisition of the company assets will entail the purchase of this valuable non- tangible asset hence provide opportunities for making more funds from the sale. 2. The company shareholders will also benefit from the returns emerging from the acquisition due to fact the company has a positive capital value attributed from large shareholder base ,assets and properties it owns in the world.With immense global presence, the BP buyout will promote employees and shareholder interests as maintaining the company effectiveness, efficiency and loyalty (Fox, et al, 2008, p, 87). The company benefits from strong market share and sound economic position hence even after the buyout, the company products will still remain favorable in the global market due to the consumer confidence established before the oil spill. 3. The BP issue will only involve acquisition of the company shares and assets, and this will entail the concept referred to as strategic takeover.This concept is advantageous to the company and the company acquiring it since the firm will select and buy assets that are favorable to them and they will be able to negotiate the right price for the products without full approval of the shareholder and other regulatory bodies. When it comes to the takeover process, the approach is mainly aimed in ensuring that any forms of weaknesses and strengths have been disclosed, and especially the ones which might have diverse impacts on the process and operations being carried out.For the reason that the company has huge amount of liabilities and increased level of debt, takeover by its competitors will reduce its taxable income hence leading to reduced tax payments. The company taking over BP will acquire both its assets and liabilities, thus the company will be saved the burden of paying and compensating the victims of the accidents and penalties to the American government.BP take over will promote efficiency gains since it will be able to eliminate corporate value destroying effects that emerge from excessive diversification hence it will be able to reduce the organization debt ratio and increase its equity portion (Dunning, J 2004, and p. 97). Disadvantages of the Takeover There are a number of problems which have to be noted with the BP proposed takeover. To begin with, the acquisition tests to be administered in establishing whether the company is profitable will be very inaccurate.This might end up resulting in cases where a very strong company is bought using false benchmarks or current situations without the evaluating the overall organizational position and performance (Mok & Tillaart, 1990, 76). If implemented as proposed, the organization corporate restructuring will greatly affect employees and its shareholders. The company will be forced to downsize its operations and c urrent workforce hence this will result to increased levels unemployment due to possibilities of employees being laid off.Large number of unemployed individuals will impact on the overall community hence hindering its economic development and opulence (Liu, 2006, p 58). BP has a global presence and sudden acquisition of its assets in some African and Asian countries will not be taken well since majority of people have an intimate touch with its products and trademark hence transfer of its assets to other organizations will affect its social standard and responsibility to the community (Roger, 2008, p ,36). Another issue is that many companies won’t agree the bid for BP takeover due to the fear of huge liabilities owned by the company from the oil spill.Most of BP shareholders are large multinational institutions in Britain like insurance and pension funds and the takeover of the company will critically affect the United Kingdom economy thus affecting lives of many Britons and other shareholders all over the world. Proposed bid from its rivals especially Exxon which is an American company will cause diplomatic problems between the US and Britain. Coming from bitter criticism from president obama, the cold ties will eventually increase if there is a takeover of BP by an American company (Peter & Paulson, 2009, p ,56).Another problem that is likely to happen if the event of the takeover the UK political establishment will lose public confidence for the reason that it does not support operations of the company and form this their would be a likelihood of political problems in Britain, this is because majority of Britons are shareholders . With controversial handling of the case by American leadership, possible takeover of the company by an American company will be seen as a planned agenda since in many occasions the politicians have said the company could have performed better if it was owned by Americans.Many critics of the proposed takeover argue that tra nsactions between BP and its competitors will harm and dent the long term competitiveness of the company (Kwon, 2008, p, 56). British Petroleum (BP): Strategic Plans BP as one of the most reputable companies in the world ,though affected with the oil spill ,it has been conducting a number of business as well as marketing strategies which come up with strategic plans aimed at future performances so that they can prevent future events from happening (Ransom, 2000,p ,76).With the recent oil spill crisis, the organization strategic plans involves restructuring of the management ,employment of competent staff and instilling of concepts of teamwork and working together to both employees and the management. The company productivity and performance have been drastically affected and the institution sales have reduced significantly leading to a drop in its share prices by more than 40 % (NEWSWEEK, 2010, p, 23) . The crisis has reduced its current customer base and at the same time it has red uced the company sales by more 35% .With this issue of underperformance in mind, the company so far is aimed at increasing the its social reputation and sales and at the very time being in a position of formulating major marketing strategies which are applicable and can help it reach all the customers around the world in which the corporation has been delivering its services (Sapienza & Grimm, 1997. p 87). The marketing strategy for the corporation that entails use of economies of scale and wide distribution networks, and the company is anticipating offering some of the lowest prices in the industry.Moreover, the company is promising to offer a low-price guarantee which will ultimately beat any competitor’s price or match their retail value (Dennet, 2009, p, 154). BP is trying to enlarge their customer base through various marketing venues that include Television advertisements which are aimed to increase brand awareness. Radio advertisements, Digital media (for example e-mai l subscriptions and the Internet) which will provide efficient ways to disseminate information, coupons, and free expert advice and product demonstrationsWithin the business, the strategic plan will be done by incorporating all stakeholders and engaging in appropriate decisions which will promote performance (Johnnson, 2010, p, 46). This proposed strategic marketing plan will entail analysis of the company’s strengths, their weaknesses, and measure the amounts of resources at disposal, and then come up with adequate strategic missions which ensure better performance (Madura, 2008, p, 45).When effected, such strategies will have long term effects and will make the company realize its goals within the stipulated time period. Effective leadership and decision making skills, and communication have also been emphasized as a key element towards realization from the oil spill catastrophe. Basically to avoid the proposed idea of takeover, it should be noted that, it is through proper coordination and employment of such long term strategic plans that the corporation will be able to emerge on top of its business operations (Armstrong, 2003, p 29).Recommended alternatives to avoid possible takeover The current oil spill crisis calls for innovative product and development especially in light of the growing negative publicity that is associated with environmental pollution and loss of jobs (Robbins, 2008, p, 76). Therefore, the option that should be pursued by BP is for them to implement and initiate strategic development and management strategies that will make them remain viable in the energy market.As BP proceeds into the future, they must be vigilant to avoid poor decision making processes which will hinder them in handling major crisis since catastrophes are some times inevitable (Laura & Torrington, 2005, p ,98). BP’s biggest risk exposure includes: unpredictable economic and political conditions, increased prices in fuel and other supplies, customer re tention, and relations with foreign countries. In order to be prepared and least effected, BP must develop strategies that will allow them to remain profitable in an unsteady market.Suggestions would be for BP to remain current on the risks of oil spill and aware of the current and future relations with foreign countries. Another suggestion would be for BP to try and negotiate compensations and government penalties. (Brodie, 2010, p 78). BP has been one of today’s most respected corporations in the history of the world because it has the highest degree of business culture as well as ethics. Generally, this organization has been able to create highly rated performance when it comes to organizational effectiveness.The creation of more and more new management groups can be a good approach which can enable handling of the key problems which have been faced within the company and its eventual operations (Sorrow, 2009, p, 89). Also, there should be the presence of a dynamic and div erse workforce which can effectively ensure that this company is able to perform better within all its key operations because different ideas shall end up being brought together from people with development experience backgrounds thus improving its performance drastically.Another important thing that can lead to a great deal effectiveness at the BP shall be in the use of newer forms of technology thus being able to come up with better and intelligent products and services which can enhance all means product and social development thus increasing the customer base for the company (Robbins, 2008. p 56). If they are able to do so, they will be able to avoid risks resulting from takeovers.BP must devise strategies to offset problems resulting from ineffective management and lack of teamwork in part of employees to avoid occurrence of similar problems which have been recorded to be detrimental in its history of existence (Jeffrey & Bratton, 2001, p, 59). The rapid advancement of technolo gy along with the growth of robotics provides many opportunities for BP.If the company continues to focus on and improve their performance management, they have every bit of potential to gain a competitive edge in the industry . Social trends are moving towards a holistic and humble approach in all areas of life, BP does not want to get caught playing catch-up to its competitors. By following this strategy, BP will have the opportunity to gain revenue and increase market share regardless of the recent crisis (Auerbach & Alan, 1991, p 36). ConclusionTakeover is a very important approach which has to be keenly considered by BP so as to improve their performance by engaging all the individuals in the organization in acting and working in a manner which shall guarantee better performance with the organization This process is what holds the key towards the future performance of the business or organization and making it possible for it to achieve its goals within the stated time period. In that case, while adopting these patterns, managers should be aware of the functions and the tasks which have to done and achieved during the management process (Fox & Marcus.2008, p, 34). Generally after takeover, there are no winners or losers. In this kind environment, people normally appreciate and accept as true that thinking and decisions making are better when done cooperatively and individuals are able to show professionalism and discipline in workplaces ,and provide essential considerations that can help the work environment run efficiently. Also if a problem emerge or arise in the workplaces, employees should not hesitate to talk up on the issue. Individuals and organizations should understand what takeover means so that they can be guided by it and function diligently.Similarly workers and employers should be turned on by the strategy so that they can tap resources and establish a successful business entity. In conclusion we can say that takeover is a very important con cept in business and it encourages competition in the global market and promote common respect for each market leaders opinions and capabilities, Promoting takeovers in a firm is creating a good work culture that values collaboration (Brodie, 2010, p ,98). Bibliography Auerbach, Alan J. 1991. Corporate Takeovers: Causes and Consequences. Chicago: University of Chicago Press. Ansell, S. , & Park, J. 2003. ‘BP Tech Trends.’ Education Week, 22(35), 43. Retrieved from Academic Search Complete database.

Essay about Cheryl Postpartum Depression Theory - 2852 Words

A Middle Range Theory of Postpartum Depression: Analysis and Application by Jennifer R. Marsh, RN BSN Abstract: This paper examines Cheryl Tatano Beck’s middle range theory of postpartum depression: Teetering on the Edge. Concepts and definitions of the theory are outlined, as well as assumptions and propositions. The postpartum depression theory is further examined and evaluated in its relation to the field of nursing, its applicability to practice, and author’s scope of practice. Keywords: postpartum depression, Beck, pregnancy, Middle Range Theory For over 20 years, Cheryl Tatano Beck has focused her research on postpartum mood disorder and anxiety. In 1993, Beck published her middle range theory on postpartum†¦show more content†¦The result is mental and physical exhaustion that leads into the next described condition, enveloping fogginess, of stage 1. Symptoms of fogginess may include losing the ability to concentrate and/or loss of motor skills; thus leading to involuntary responses. (Beck, 1993). Stage 2 Throughout Dying of Self, women begin to no longer feel normal and sense as though their former identity is absent; often at times reporting robot like feelings that are void of emotion and caring. A woman will begin to isolate herself secondary to the loss of interest in former enjoyable activities, friends, and even family; ultimately leading one to contemplate and attempt self-destruction via thoughts of hurting self, baby, or even fantasizing about death (Beck, 1993). desire steps to resolution from conditions formed in the previous stage; however, many feel as though they are battling the system. While attempting to seek treatment, women often face disappointment, humiliation, anger, and frustration. The main reason that these new found feelings occur are due to the lack of assistance they receive from family members, friends, and even their primary care providers and/or obstetricians while seeking help. Women often turn to prayer for relief and seek solace in a support group (Beck, 1993). Stage 4 The final stage experienced in PPD is that of Regaining Control. One does not regain control instantly, it is a slowShow MoreRelatedPostpartum Depression And The Depression1430 Words   |  6 PagesThe postpartum time period is depicted as a joyful time for mothers, but in some cases it can be a time of calamity (Jevitt, Groer, Crist, Gonzalez, Wagner, 2012). Postpartum Depression (PPD) in women after childbirth is a common occurrence. It happens in all races, ethnicities, and socioeconomic statuses. PPD is a severe depression that affects mothers after childbirth. It involves serious depression, sadness, and loneliness. Cheryl Tatano Beck is a nursing theorist who is known for her workRead MoreEssay on Becks Theory of Postpartum Depression1688 Words   |  7 PagesBecks Theory of postpartum depression Theory is an attempt to explain the world around us. It is defined as a set of concepts, definitions, and propositions that projects a view of phenomena by designating specific interrelationships among concepts for purposes of describing, explaining and predicting phenomena. In the world of healthcare the nurse through the understanding of theories attempt to explain why nurses do what they do. Nursing theories are the creative products of nurses who seek toRead MorePostpartum Depression : Symptoms And Symptoms Essay4061 Words   |  17 Pages1 Running head: POSTPARTUM DEPRESSION 7 POSTPARTUM DEPRESSION Possibility of Predicting Postpartum Depression Stephanie Vasiljevs Charter Oak State College Abstract Pregnant women will be investigated to see if postpartum depression can be predicted and possibly prevented. The investigation will examine postpartum case histories, and academic journal articles, and secondary sources such as, text books and websites. Through this investigation, woman can find out triggers to