Service Quality and Consumer Satisfaction Research Paper

Service Quality and Consumer Satisfaction - Research Paper Example The answers stipulated in the results will help the business community determine if the concepts are single constructs in nature, or different separable constructs. List three references from literature review. Comment on what type of style (APA or other) have used in referencing. Some of the sources of information used in the literature review are; Bearden and Teel (1983), Churchill and Surprenant, (1982), and Parasuraman, Zeithaml, and Berry, L. (1994) (Iacobucci and Ostrom 278). These sources are applied in relating the opinion of the customers related to documented information. The referencing used in the paper is in APA formatting. List at least one theory that is used in the study. The study is an analysis of marketing theory which researches the relationships between the two main aspects business environment; Service Quality and Consumer Satisfaction. Write a brief description of the methodology used in the study. The article presents two studies with divergent methodologies m eant to explain the relationship between the two concepts. It focuses on the consumer understanding of quality and satisfaction. The respondents on both studies report whether they think the two concepts differ and in what perspectives and dimension in case of a difference. The first study uses qualitative critical incident technique to accrue the service attributes considered by the respondents who postulates that the concepts are different. The responses are then coded to the open ended survey questions which are compared and analyzed to determine whether the two concepts can be alienated from each other in reference to respondents’ perspective. The second study involved the use of manipulated service attributes in relation to the first study and literature reviews. This was meant to identify the results of the first study and the literally information have differential impacts on the judgment of quality satisfaction. The respondents were encouraged to their independent vie ws. However, the researchers did not presuppose the difference to the respondents in the second study; they were required to give their personal judgment on the two concepts as well as making independent definitions (Iacobucci and Ostrom 277). Their judgments guided the study conclusion on whether the terms were used interchangeably or variably. The whole research relies on divergent methodologies that involve content analysis of experimentation and qualitative data. This enhanced the validity of the results. List the sources of data and classify the variables as continuous, categorical, dependent, and independent variables. Evaluate four characteristics that describe the data is applicable for the date used in the study. The secondary sources of data are books and journals. This is continuous as it can be used overtime. Antecedents forms the independent variables while focal constructs (quality and satisfaction) form the dependent variables. The participants form the categorical va riable as they grouped into gender nature. The primary sources of data include experimentation and open discussions. The two studies were transitional. The respondents had a gender balance characteristic thus the responses were not gender biased. The participants were outsourced from business administration department thus

International courts Essay Example for Free

International courts Essay Disputes are part of human existence. It is a normal occurrence. The earliest records one can find regarding quarrels between neighbors and the resolution of the same via third party intervention can be found in the Bible. Moses the old patriarch acted as an arbiter when two people could not resolve their issues. As civilizations developed, when Moses’ people were able to build more complex governments – the courts and the tribunals were also improved upon. In the modern times the system of settling disputes evolved into an art form. In America one has a very complicated way of resolving issues between two parties. It is already a great improvement from those used in the ancient world. Instead of a sole judge or king deciding over a case there is now a jury, a group of people who will work collectively as a whole and judge the matter so to speak. Now, all the previous discussion are all about settling disputes between two individuals or a group of people against a person and vice versa. This is also about a third party stepping in between two groups who could not settle their differences out of court. Finally, all the above are about the problems of individuals or groups of individuals that were addressed as citizens or as organizations within the bound of a political system or a geo-political nation. What if the disputes happened not between citizens within a country but a disagreement between two nations? Who will come in as a third party that will be reputable for each nation? This paper investigates the role of International Courts and the role it has to play in the ever increasing problem of global conflict. History According to Boris Kolba, international law and international courts is an old idea. He added that 17th century Dutch statesman Hugo Grotius, considered to be the â€Å"Father of International Law† argued, â€Å"†¦that all nations should follow one set of rules† (Kolba, p. 10). Those who were convinced on the practicality of Grotius’ ideas finally made decisive actions beginning in 1864 and Kolba wrote: In 1864, a group of nations met at Geneva, Switzerland, at the urging of Henri Dunant, one of the founders of the International Red Cross [†¦] It produced a set of rules for nations at war called the Geneva Convention [†¦] Only twelve nations signed the convention at first. Then in 1899 and 1907, delegates met at The Hague in the Netherlands [†¦] These conferences produced more rules, moving beyond war to cover how nations cold stay at peace. (p. 10) The United Nations. At the end of the Second World War, it was apparent that nations of the world must unite in dealing with international disputes so that it will not again result in a costly and devastating war. The first thing that was established was the United Nations and what followed suit is a more formal system of dealing with international problems. According to Mohamed Amr, to be a member of the UN automatically makes one a member of the International Court of Justice or ICJ. Referring to the Charter that established the UN, Sameh remarked that, â€Å"Article 92 of the Charter [†¦] reflects the constitutional position of the Court within the UN. It provides that the ICJ is the principal judicial organ of the UN [†¦] member states of the UN are ipso facto parties to the Court’s Statute† (p. 24). Simply put, if a country wants to enjoy the benefits and privileges as a UN member then that nation must also adhere to a basic condition as a member state and that is to honor the International Court of Justice. G. A. Knoops agrees with Amr and he said that the UN would establish international criminal tribunals as subsidiary judicial organs to fulfill its role as a guardian for international peace. Knoops added that: Clear examples of these enforcement measures are the establishment of international tribunals for the former Yugoslavia and Rwanda [†¦] These tribunals have primacy over national courts (primary jurisdiction) concerning individuals suspected of perpetrating international crimes. The Security Council can compel UN member states to cooperate with the tribunals through use of its Chapter VII powers. (p. 7) Comparison Knoops made an interesting argument about the primacy of the UN’s International Court of Justice over that of national courts. It is therefore necessary in the study of International Courts to make a comparison to that of Civil Courts. Kolba provided the information as seen in the following: A Civil Court †¢ helps people settle their differences without fighting †¢ offers rules for people with disputes to follow †¢ takes time, giving people a chance to settle their arguments †¢ makes a decision that most people respect †¢ strengthens the rule of law The International Court of Justice †¢ helps nations settle their differences without going to war †¢ offers rules for nations with arguments to follow. †¢ takes time giving nations a chance to resolve their own disputes †¢ makes a decision that much of the world respects †¢ strengthens international law There is actually not much difference on how both systems work. The only difference is in terms of scale and instead of individuals what is being dealt here are relations between two countries. Moreover, if the disputes between two people could not be resolved amicably then the worst possible scenario could be personal vendetta that would probably result to violence. In case of disputes between two nations the catastrophic result could probably be a full-scale war. Kolba gave this riveting account on how an international incident can easily escalate into national disputes that could in turn lead to war. He wrote that in 1946, year after World War II, sea lanes were still unsafe for travel due to the numerous mines laid there by armies of the recently concluded global war: That year, four of Great Britain’s warship were sailing in the Corfu Channel off the coast of Albania [†¦] The warships struck at least one mine. The explosion badly damaged a ship, killing forty-five sailors and officers. Great Britain claimed Albania must have known the mines were there (and) blamed Albania for the damage and deaths. The unfriendly Albanian government said it was not responsible. (p . 4). The situation was tense. And the presence of British warships in the area added more tension to an already volatile atmosphere. Great Britain could have launched an attack, punishing Albania. Kolba however pointed out that in this case the rationale mind prevailed as the two nations saw the futility of war, â€Å"†¦the nations did not go to war. Instead, they went to court. Their dispute became the first case to be resolved by the International Court of Justice, the world’s most important international court† (p. 5).

The Body Snatcher by Robert Louis Stevenson and The Adventure of the Speckled Band by Sir Arthur Conan Doyle :: Snatcher Stevenson Speckled Doyle Essays

The Body Snatcher by Robert Louis Stevenson and The Adventure of the Speckled Band by Sir Arthur Conan Doyle In the two stories tension and suspense is created through many different methods. Weather and time of day are very popular scene settings to make the perfect moment in a tension story. Thunderous skies and pelting rain on a dark night has more of a chilling feel to it than a sweet summers day with sunflowers and butterflies flapping around. Of course there are times and places for such story writing, but it would not fit the mood for a Sherlock Holmes story. In "The Adventure of the Speckled Band" by Sir Arthur Conan Doyle the drama and suspense begins immediately, and the reader is given almost a description of what he or she is in store for. Sir Arthur Conan Doyle makes it known directly that Sherlock Holmes only accepts cases to solve that seem out of the ordinary, and he is about to be prompted into quite an unordinary situation. This places the reader in a quizzing state of mind, so already the reader's attention has been grasped, and throughout the story like a detective the reader will pick at each detail of the story. The obviousness of a strong, suspenseful story unravels when Holmes disturbs Watson from his slumber at a very unsuitable time in the morning, according to Watson. It brings tension to the story once again so early on, for we realize that to be up at such a time in the morning, would only be for a special case for the two to attempt to solve. When the detectives interview the woman at their office, we are told of her state, she is shivering, and is said to have pre-maturely gray hair. This itself does not bring spine tingling suspension to the reader, but when we are told that she shivers not from the cold, but from her fear, it begins to become a lot clearer. We also find out that the woman is quite young, but has gray hairs, the only reason I thought of for a woman to have gray hairs prematurely, was because of Stress or trauma of some kind. This creates tension by making us want to find out what was so disturbing or so stressful to cause her premature grayness, and we suspect the most probable cause to be her fear. Shortly afterwards we lean that Helen's cause for the distress she has been put through is her step father, who is described to have quite a nefarious attitude at times. We learn from Helen that he has before

Essay on video games violence Essay

The gaming industry greatly impacts how people, from young children to adults, spend their time. According to Health Magazine (2009), â€Å"90 percent of kids aged 8 to 16 play video games, and they spend about 13 hours per week doing so (more if you’re a boy). † Whether its educational, or just plain fun and entertainment video games have evolved greatly in the last 40 years. Today’s sophisticated games are in a class of it’s own with it’s realism and impressive graphics. With this ever advancing technology, comes better games with realistic situations. There’s no harm in playing video games for recreation. However, the problem lies within the violent video games and the aggression that these video games cause in children. For years researchers and experts have issued studies linking video games to aggressive behavior. It’s a controversial subject, nonetheless, it shows just how powerful the affect the games have on children. To illustrate, CBSnews. com reports a story of a 17 year who bought the popular game, â€Å"Grand Theft Auto†. In this game, the player is encouraged to do as much illegal activity and engage in as much violent behavior as they can to be rewarded with accolades and higher points. The more heinous the act, the higher you move up in the game. After playing this game for nine months, the 17 year old gunned down three men, two police officers and a dispatcher in a county jail, in the same style he was trained from the video game. In the kids statement to police, he said : â€Å"Life is like a video game. Everybody’s got to die sometime. † This is just one example of aggressive behavior as a result of violent video games, but there are many more cases. Children’s minds are very impressionable, and violent video games are harmful to their minds because of how interactive and realistic these games can be. According to research by child psychologist David Walsh, as further reported in the article, violent video games can be linked to physical aggressive behavior in children because of the brain. His study revealed that the teenage brain is not fully developed. Violent video games have a deeper impact on a teenage brain versus an adult brain. Walsh further states, it’s â€Å"largely because the teenage brain is different from the adult brain. The impulse control center of the brain, the part of the brain that enables us to think ahead, consider consequences, manage urges — that’s the part of the brain right behind our forehead called the prefrontal cortex. That’s under construction during the teenage years. In fact, the wiring of that is not completed until the early 20s. † Therefore, since children’s mind are still underdeveloped, violent video games have a negative effect and cause children to believe aggression is appropriate. From the National Institute on Media and Family, six medical groups issue warnings as to the effects that violence has on children: (1) â€Å"Children will increase anti-social and aggressive behavior. (2)Children may become less sensitive to violence and those who suffer from violence. (3) Children may view the world as violent and mean, becoming more fearful of being a victim of violence. (4) Children will desire to see more violence in entertainment and real life. (5) Children will view violence as an acceptable way to settle conflicts. † From studies to real life examples of violent behavior, video games has shown to have an influence on children’s behavior. Violent video games will not be going away anytime soon. The only solution to combat the issue of violent video games is for parents to be actively involved in their children’s free time and take an interest in what their children play. Once parents are informed on their decisions to allow their children to play violent video games, they will know that if choosing violence, it will have an effect on the impressionable child mind.Parents beware. References Harding, A. (2008). Violent video games linked to child aggression. Health Magazine. Retrieved from http://www. cnn. com/2008/HEALTH/family/11/03/healthmag. violent. video. kids/ Bradley, E. (2005). Can a video game train someone to kill? Retrieved from http://www. cbsnews. com/stories/2005/03/04/60minutes/main678261. shtml 2010. Fact Sheet. National Institute on Media and the Family. Retrieved from http://www. mediafamily. org/facts/facts_vlent. shtml.

Sigmund Freud and Phallic Stage Fixation

Ferris State University 1. According to Freudian theory, is Steve aware of why he interacts with women on only a sexual basis? Steve is superficially aware of why his interactions with women are exclusively sexual, but there is an underlying issue with his mother that prevents him from having a deeper connection with women. 2. What type of psychic energy motives Steve, according to Freud? Libido, that controls sexual drive, is what has been motivating Steve over a majority of his life. . Which of Freud’s personality types does Steve display? What evidence is there for it? What would have caused it? Steve displays the personality of someone that uses defense mechanisms such as displacement and reaction formation. Due to the neglect by his mother, Steve has taken then experience and is taking it out on women around him. 4. At what Freudian stage is Steve fixated? What evidence is there of it? Describe the stage and how it contributed to the fixation.What would have caused this f ixation? Steve is fixated at the phallic stage of development. The evidence is that he is constantly looking for that sexual pleasure. With the lack of attention he got from the opposite-sex parent (Mother), Steve became focused on getting the kind of pleasure he desired, resulting in him being stuck in this stage of development. 5. Others might express their behavior differently than Steve if t hey were fixated at he same stage. Give some examples of how they might behave. While Steve’s hyper-sexual behavior is due to his phallic stage fixation, another person fixated at the same stage may act differently. For example, a person may instead seek sexual attention from people of the same gender. In another instance, a person could become fixated with themselves and unable to engage in sexual relations with another person.

Will Your Healthcare Job Be Done by a Machine in 20 Years

Will Your Healthcare Job Be Done by a Machine in 20 Years Technology has made our life so much easier in recent years. It is becoming an essential part of our life, performing manual and repetitive tasks for us in our daily life. But at the same time, machines can actually do some amazing things that would be impossible for human to achieve 5 years ago. We can all agree that advancement in technology has helped us. But what you really want to know is this: will your job be around in the future? Or will it be replaced by robots. By looking at the pace of our technology advancement and how likely our jobs can be automated, researchers are able to estimate how technology will affect the job market in 20 years. Here are how likely some of the healthcare jobs could be done by machines in the future.1. Massage TherapistsThis job has a 54.1% chance of being replaced by a machine in the future.2. Home Health AidesThis job has 38.5% chance of being automated.3. Physician AssistantsIf you are a physician assistant, you are safe. It only has 14.5% cha nce of being replaced by robots.  4. Occupational TherapistsCongratulation if you are an Occupational Therapist! Your job has only 0.3% chance of being automated and replaced by machine. A good career to go into if you are thinking about getting  a job in the healthcare support field.5. Medical SecretariesAccording to the research, medical secretary jobs have a 81.5% chance of being done by machine in 2o years. Time to learn new skills!6. Medical Bill and Account CollectorsUnfortunately research shows that this job has a 94.7% chance of being automated in the future. If you are doing this job right now, make sure to sign up our job alert and start thinking of switching to a new job!7. Physical TherapistsIf you are a Physical Therapist, you can releax. Your job has only a 2.1% chance of being done by a machine.Check out the future of other jobs at npr.org if you want to learn more:  Will Your Job Be Done By A Machine?

3 Steps to Finding Your Dream Job

3 Steps to Finding Your Dream Job We talk a lot about combing job posts, grooming your resume, and sharpening your interview skills. These are definitely important techniques, but they may not be worth all the stress if you’re not also taking a look at yourself and your future to decide what you really want to be when you grow up. Here are some tips on how to find not just a job for you, but  the job for you.1. Know YourselfWhat do you actually want? What do you like doing? What is your largest priority in finding a workplace? Is it the day-to-day responsibilities that need to feel most meaningful? The flexibility it allows you to have in your home life? These priorities can change over time, of course, but it’s important to take a really honest look at yourself before you get started.Ask yourself these questions:What would you be doing if money wasn’t an option?What industries would allow you to involve that skill or field in your day to day work?Do you like working closely and collaboratively with others?Do you prefer autonomy and independence?How interested are you in management opportunities?Do you like the set of skills you’ve currently amassed or do you need to pursue new, more exciting areas of learning?2. Model SuccessYou know how geese migrate with the seasons, flying in those characteristic V patterns? They do that to share the burden of flying right in the face of the wind.  It is okay to be the second goose in the V. Really.The real-life translation of this avian metaphor is simply, find someone who’s doing what you want to do be doing. Learn from them. Ask about the challenges they’ve faced and the lessons they’ve learned as they overcame them. See if they’re actually as happy in their current situation as you imagine they are from the outside.I have a mentor who’s doing exactly the kind of work I thought I always wanted to be doing- but once I saw how much effort she put in and how little that work was valued by he r colleagues or her supervisors, I decided to change course, keep my eggs in multiple baskets, and make sure I had a fall-back plan in case all that effort started to feel like it wasn’t well spent on my chosen career path.3. Find 2-3 Companies that Amaze YouThis is what my mom did when she went back to work after staying home with my little brother. She’d had a few years of clerk and paralegal work when I was very young, then she’d taken that time away. When it was time to make her way back into the workforce, she started by researching local companies with openings that shared values with the government agency where she really wanted to land. Picking out immediate places to apply based on long-term priorities helped her get started in a large corporate office and bring her computer and legal knowledge up to speed, making her  a shoo-in when she finally saw an opening at her ideal job.Now she’s been there for nearly 20 years. The advice she always give s me, and I hate hearing, is to look for places where you want to work and get on their radar before they’re searching for applicants. As soon as that job posting goes up, you could have hundreds of other resumes to compete with; get in there for an informational interview or on a word-of-mouth referral, and you’re going to stand out.The Secret To Discovering Your Dream JobRead More at Careerealism

When Should I Capitalize Internet

When Should I Capitalize Internet When Should I Capitalize Internet? The question of whether to capitalize â€Å"internet† is source of much controversy. It has even inspired its own Wikipedia article. But we’re here to make writing easy, so we’re going to ignore the controversies and set out the basics of when to capitalize â€Å"internet† in simple terms. Internet as a Proper Noun Unless it appears at the start of a sentence, you should only capitalize â€Å"Internet† when it is a noun. More specifically, you can capitalize it when referring to the Internet (i.e., the world wide web). Everything is connected now In this case, â€Å"Internet† is a proper noun, a word that names a unique thing. So â€Å"the Internet† is like the name of a person (e.g., Delia) or city (e.g., Boston). Using a capital â€Å"I† was common in the early days of the web, especially in technical writing. However, as the internet has become part of our lives, most people now write it with a lower-case â€Å"I† instead. Dialect can make a difference, too, as capitalizing â€Å"Internet† is more common in American English than other dialects. Ultimately, though, it is a matter preference. For instance, both of these sentences are fine: I looked up advice on the Internet. The internet is full of contradictory advice. The most important thing is consistency. So if you write â€Å"Internet† in one part of a document, you would want to use the same capitalization throughout. You may also want to check your school/college/employer’s style guide. However, there are a couple of situations where you should never capitalize this term. We will look at each of the following below: Using â€Å"internet† to refer to interconnected networks in general. Using â€Å"internet† as an adjective. Internet as a Common Noun The word â€Å"internet† is a contraction of â€Å"interconnected network.† We can therefore use it to describe any set of interconnecting networks. And when referring to interconnected networks in general, we do not capitalize â€Å"internet† because it is a common noun rather than a proper noun. In other words, while the Internet is an internet, it is not the only internet! You are unlikely to need the generic term â€Å"internet† in your daily life. But if you are involved with computers in your work or studies, remember not to capitalize â€Å"internet† unless you’re referring to the Internet. Adjectival Internets We can also use â€Å"internet† as an adjective. For example: My internet connection has dropped out again. Here, the word â€Å"internet† modifies the noun â€Å"connection.† This means we’ve used it as an adjective. And as such, we do not need to capitalize it. Summary: When Should I Capitalize Internet? You can capitalize the â€Å"I† in â€Å"internet† if you are using it as a proper noun, but this is a matter of choice. Here at Proofed, for example, we prefer â€Å"internet† in all cases. But this is just because we don’t see the need to capitalize it, not because â€Å"Internet† is wrong. There are no hard and fast rules about capitalizing â€Å"internet,† then. However, if you want to capitalize it, keep the following in mind: You can capitalize â€Å"Internet† when it is a proper noun (i.e., when it refers to the world wide web), but this is a matter of choice. Do not capitalize â€Å"internet† when it is an adjective (e.g., â€Å"internet users†). Do not capitalize this term when referring to internetworking in general. If you are writing for your studies or job, you may have a style guide available. Check this for advice on capitalization. Make sure to apply capitalization consistently in your writing. And if you’d like more help with your writing, you can have it proofread.

Hotel Concept Essay Example | Topics and Well Written Essays - 2000 words

Hotel Concept - Essay Example A brand represents the core of the customers awareness of the hotel, its services and products. Keller (1997) explained that the positive or negative perceptions that are created and persuade a customer to avail or not to avail services at a certain hotel stand for the brand equity. A customers excellent experience with a certain hotel brand creates a strong representation of that hotel brand, whereas an awful experience wears away that strong brand. A prospective customer does not require first-hand experience with a certain hotel brand to create an impression of that hotel brand. Brand equity makes use of the media or other marketing techniques to strengthen mass exposure of their hotel brands. This means that people are aware of which among the hotels are classified excellent and poor even if they haven’t experienced being guests in those hotels. So, a strong need for hotel management is formed into creating the best and strong brand of hotel for business longevity as well as increase in profit. Creating strong hotel brands is believed to be one of the key factors in considering the success of the business. Hotel managers therefore need to study what composes brand equity in the hotel industry and exhibit a technique for how do they effectively measure hotel brands offering a decision-making tool for them in order to take full advantage of the value of their brands. The main rationale for building brand equity as the keystone for the success of the business is that it aids counterbalance competition by distinguishing their product, permitting hotel owners of a premium charge, and promoting customer loyalty. Aaker (1991) argued that defining precisely what composes a brand, nonetheless, is not as easy a job as stating what a brand should bring about. At some point, the concept of a brand is that a brand comprises a name, a symbol, a logo, and a trademark. However, pointing out brand

Berman vs dept of interior case Assignment Example | Topics and Well Written Essays - 3000 words

Berman vs dept of interior case - Assignment Example United States, subsequently, filed a civil suit in United States District Court for District of Columbia, where it asserted that Berman and POGO violated the 19 U.S.C & 18 U.S.C. Â § 209 that prevents private parties and government for making compensations and people or employees from receiving the compensation while in government service. In 2008, the jury found out that Berman and POGO violated the law. Nevertheless, Berman and POGO appealed seeking for review by Court of Appeal in United States for District of Columbia Circuit (Ralph, 2002). However, the government opposed the move by saying that the two parties violated 18 U.S.C. Â § 209 that prevents any person from giving or receiving supplementation of salary or contribution as compensation for services during an employee of the officer at the executive branch. Furthermore, Berman was charged with Unjust Enrichment (UE) and Breach of Fiduciary Duty (BFD). District Court granted the motion by government for summary judgment for violating 18 U.S.C. Â § 209(a). The court reversed and remanded the matter to District Court for more proceedings to come up with a resolution of the disputed facts of the existence of intentional direct link between the official responsibilities of Berman and payments made by POGO. On remand, District Court accepted the argument by government of 18 U.S.C. Â § 209(a) being a strict legal statute and termed the parties’ intent as irrelevant. The court kept the briefing schedule for the case pending with the disposition in the United State vs. POGO, 616 F.3d 544. The Court of Appeal, in the decision for District of Columbia Circuit, remanded and vacated in part for a new trial. This concluded the intent of the required element of the violation of 209 of the failure of the jurys instruction from District Court in instructing on intent element (Cooper, 2006). According to Berman,

Evaluation of alternative growth paths available to organizations Essay

Evaluation of alternative growth paths available to organizations - Essay Example Everything takes some time and any initiative taken by a new entrant takes some time to fructify and yield desired results. There are four different strategies that can be chosen by a new entrant to penetrate a new market. These strategies are embodied in what is popularly known as Ansoff’s Matrix (Pearce and Robinson 2007). The four pronged attack that a marketer must implement in order to make a mark in a new market are aptly embodied in this matrix which clearly identifies between existing products and new products and existing markets and new markets. The pictorial representation of the matrix is: (tutor2u 2009) It is quite obvious that the strategies differ in different situations. If a company wishes to make its presence felt in an existing market with existing products it needs to adopt strategies that would help it in penetrating the market. But if the company is attempting to introduce new product in an existing market, it needs to concentrate more on strategies relat ed to product development as that would help it in creating a firmer hold on the existing market. Similarly, if the company is attempting to introduce existing products in new markets, it must concentrate on strategies that are closely associated with market development. Whereas, if the company has grand plans of entering new markets with new products it must embark on a path of diversification and devise relevant strategies. Market Penetration Product/market placement This strategy attempts to increase the market share of an existing product in an existing market and is generally adopted by firms that want to increase their turnover without altering their product portfolios. Main Principles As the main emphasis is on increasing the turnover, management should concentrate on increasing sales personnel while offering attractive discounts and bargain sales that are made to appear genuinely appealing through aggressive sales promotion and advertising. However, there is no assurance tha t such moves would pay dividends and a firm should adopt such strategies only if it feels the market has not matured or its market share is steadily decreasing due to onslaught of rivals. Organizational Example The best example of such market penetration strategy is observed in the way Airtel is promoting its services in the mobile telephony market in India. Pros and Cons There is bound to be a lot of investment in advertising and promotion and per unit revenue gets reduced due to discounts. So, the sales volumes must be sufficiently large to offset these reductions. But that can never be guaranteed. However, if the venture becomes successful, the firm can earn substantial revenue. Market Development Product/market placement When a firm tries to discover new markets for an existing product it is termed as market development strategy. It is obvious that a new market would result in additional turnover and consequent bolstering of the bottom-line. Main Principles There are two basic m ethods of focusing on a potential market. Such a market can be configured on the basis of geographical location such as state, country, region or even a city, or it could be delineated on the basis of demographic divides as gender or age. It could even be demarcated on the basis of income or educational or family background. This move is obviously riskier than market penetration as the firm is entering new and uncharted territories and should be undertaken only after potential for further expansion in domestic market is exhausted. Organizational Example The best example of market development strategy is exemplified by the ventures made by Pakistan Oil Company in new markets in Afghanistan or the way Chinese products, especially consumer products that have expanded their market all over the world. Pros and Cons A

The Treatment of the Working Classes, the Poor and the Uneducated Research Paper

The Treatment of the Working Classes, the Poor and the Uneducated - Research Paper Example The novel explores various themes such as ambition, social isolation, science, psychological balance, and moral responsibility among others (Shelley 23). However, one of the key themes explored in Shelly's book is the treatment of the working classes, the poor and the uneducated in the society. Thus, this paper will analyze how the treatment of working class, the poor and the uneducated theme is brought out in Mary Shelley’s novel, Frankenstein. According to Shelley (25), the monster represents the oppressed, the poor people in the society, and how the working class is brutalized in the modern industry. There is a clear evidence of class struggle in Shelley's novel, and that is why she uses this theme to criticize the society and expose some of the economic, social, and corruption problems people experienced during that time and their effects on society. One of the key causes of the English revolution in 1640 and the French Revolution in 1789 was the rise of wealth and strengt h of the bourgeoisie, which resulted in capitalism. King Charles sided with the upper class and the noble people in the society during the English revolution, but not the common ones. ... This is also applies to the upper and working classes. The upper class people are highly educated and have a lot of wealth while the working class people are poor and uneducated. For this reason, the bourgeoisie use their wealth and power to exploit the working class in order to get profit. According to Shelley (45), the monster argues that he is gentle and docile to his king and lord; thus, demands that Victor should perform his part, as well. This means that the bourgeoisie should give back to the working class since what they are giving back is not enough. It also reveals a separation of class in the society since it contributes to the idea of social inequality. For instance, during the French revolution only the noble people became bishops and army officers and were able to hold real power while the working class who consisted of 95% of the France population could only become peasants. In Shelley’s novel, the De Lacey’s family represented the common people who were poor and powerless, but virtuous. Additionally, in the novel, Frankenstein did not create an evil creature, but rather the cruel treatment the monster received from the world made him evil. Nearly every creature in Mary’s novel assumes that the monster is destructive and dangerous due to its appearance, yet it is open and warm-hearted. Despite his attempts to show his noble intentions, the monster is rejected and assaulted by the entire society and families. Thus, this rejection and violence that he experiences convinces him that man is a barbaric being; hence, becoming a cruel creature and vows to take revenge on society and his creator. Moreover, after the monster observed De Lacey’s family through a hole in the wall, he

Impact of service quality on customer satisfaction and customer Dissertation

Impact of service quality on customer satisfaction and customer loyalty an application on the banking sector - Dissertation Example With the aim to evaluate the impact of service quality and customer satisfaction on customer loyalty, three objectives were set in Chapter I. Based on a qualitative approach, only secondary data has been used for this study. With customer loyalty as the dependent variable, three independent variables – perceived value, service quality and customer experience have been considered in this study. The study finds that certain dimensions of service quality directly impact customer loyalty - reliability, empathy, responsiveness and assurance. Staff training is thus of importance in delivering quality training to evoke such feelings in customers. In the service economy the relationship between service quality and customer experience has gained immense importance. Customers base their future decisions on the ‘moment of truth’ and hence staging and designing an experience has become an important tool to gain competitive advantage in the banking sector. Banks need to unders tand individual customer needs and personalize service. Perceived value enhances customer satisfaction and this leads to enhanced customer loyalty. Customers evaluate the benefits they receive against the costs they pay for such services. Thus Perceived value in the banking sector independently impacts customer satisfaction leading to customer loyalty. ... 1.4 Conceptual framework 4 1.5 Structure of the Study 6 1.6 Scope of the Study 6 Chapter II Literature Review 2.1 Chapter Overview 7 2.2 Definitions 2.2.1 Service Quality 7 2.2.2 Customer Satisfaction and Customer Experience 8 2.2.3 Customer-perceived Value 9 2.2.4 Customer Loyalty 10 2.3 Dimensions and perceptions of service quality 2.3.1 Dimensions of Service Quality 10 2.3.2 The Gap Model 11 2.3.3 Perceptions of Service Quality 12 2.3.4 Summary 15 2.4 Service Quality and Customer Loyalty 16 2.5 Service Quality and Customer Experience 19 2.6 Perceived Value on Customer Satisfaction and Customer Loyalty 22 Chapter III Methodology 3.1 Research Philosophy 23 3.2 Research Design 23 3.3 Research Methodology 23 3.4 Choice of Method 24 3.5 Data Collection 25 3.6 Sources of data 25 3.7 Justification for Literature Review 25 3.8 Data Analysis 26 3.9 Ethical Concerns 26 Chapter IV Findings and Discussion 4.1 The Banking Industry 27 4.2 Service Quality and Customer Loyalty 27 4.3 Service Qual ity and Customer Experience 29 4.4 Perceived Value on Customer Satisfaction and Customer Loyalty 31 4.5 Discussion 33 Chapter V Conclusion and Recommendation 5.1 Conclusion 36 5.2 Recommendations to enhance customer loyalty 37 5.3 Limitations of the Study 37 5.4 Recommendations for further research 37 5.5 Personal Reflections 39 References 40 Figures Figure I Framework for the Study 5 Figure II Customer Experience and Service Quality 30 Chapter I Introduction 1.1 Background In an intensely competitive business environment, sustainable competitive advantage has become imperative. The service industry has been forced to create new ways of finding competitive advantage (Chen & Hu, 2012). Retaining customers is considered to be more important than creating new customers. Retaining existing

The Treatment of the Working Classes, the Poor and the Uneducated Research Paper

The Treatment of the Working Classes, the Poor and the Uneducated - Research Paper Example The novel explores various themes such as ambition, social isolation, science, psychological balance, and moral responsibility among others (Shelley 23). However, one of the key themes explored in Shelly's book is the treatment of the working classes, the poor and the uneducated in the society. Thus, this paper will analyze how the treatment of working class, the poor and the uneducated theme is brought out in Mary Shelley’s novel, Frankenstein. According to Shelley (25), the monster represents the oppressed, the poor people in the society, and how the working class is brutalized in the modern industry. There is a clear evidence of class struggle in Shelley's novel, and that is why she uses this theme to criticize the society and expose some of the economic, social, and corruption problems people experienced during that time and their effects on society. One of the key causes of the English revolution in 1640 and the French Revolution in 1789 was the rise of wealth and strengt h of the bourgeoisie, which resulted in capitalism. King Charles sided with the upper class and the noble people in the society during the English revolution, but not the common ones. ... This is also applies to the upper and working classes. The upper class people are highly educated and have a lot of wealth while the working class people are poor and uneducated. For this reason, the bourgeoisie use their wealth and power to exploit the working class in order to get profit. According to Shelley (45), the monster argues that he is gentle and docile to his king and lord; thus, demands that Victor should perform his part, as well. This means that the bourgeoisie should give back to the working class since what they are giving back is not enough. It also reveals a separation of class in the society since it contributes to the idea of social inequality. For instance, during the French revolution only the noble people became bishops and army officers and were able to hold real power while the working class who consisted of 95% of the France population could only become peasants. In Shelley’s novel, the De Lacey’s family represented the common people who were poor and powerless, but virtuous. Additionally, in the novel, Frankenstein did not create an evil creature, but rather the cruel treatment the monster received from the world made him evil. Nearly every creature in Mary’s novel assumes that the monster is destructive and dangerous due to its appearance, yet it is open and warm-hearted. Despite his attempts to show his noble intentions, the monster is rejected and assaulted by the entire society and families. Thus, this rejection and violence that he experiences convinces him that man is a barbaric being; hence, becoming a cruel creature and vows to take revenge on society and his creator. Moreover, after the monster observed De Lacey’s family through a hole in the wall, he

Bill Gates, Mark Zuckerberg and Steve Jobs Essay

Bill Gates, Mark Zuckerberg and Steve Jobs - Essay Example Born in Seattle Washington, Gates ancestral origin is English, Scot-Irish and German (Gates 32). To date, Gates remains one of the well-known entrepreneurs in terms of computer revolution. Gates has played a key role in envisioning Microsoft operations systems towards becoming an industry standard in a spurn of only three years. His contribution in the technological sector is felt with Microsoft revolution. Bill Gates brought a new lease of life with Microsoft revolution (Gates 36). Today, almost every company across the globe uses Microsoft in their business operations, therefore, playing an effective role towards transforming lives of many people and commercial centers. Educational institutions have also heavily gained by Bill Gates contribution in this sector. Alternatively, Bill Gates dedication in making this contribution was seen to get a heads up in most institutions across the globe. Most organizational systems are now experiencing exceptional systems technologically courtesy of Bill Gates transformations and innovations (Gates 47). Steve Jobs Steve Jobs contribution to modern technology, innovation and education remains one of the highlights of his life. Jobs had a vision to revolutionize technology to greater heights. Steve Jobs did not only want to see technological revolution readily available in school, but he instead played an important role in seeing there is a breakthrough in technology towards positive impacts on people (Doeden 32). Currently, there is a complete revolutionary branch in terms of technological aspects across the world.

The Renaissance Period Essay Example for Free

The Renaissance Period Essay The renaissance began around the mid fourteenth century. It was a time of awakening for Europe, which is why it was called a â€Å"re-birth†. I agree that the renaissance was unmatched to any other time in world history with its political and economic upheaval. Many things changed like their politics, economy, and the social changes they had. Politics was a factor that changed during the renaissance. An example of change was the separation of christianity from politics. They wanted a separation from the church and state, to have more freedom for themselves. Another example of change was they brought an end to feudalism around the fifteenth century. The three main reasons for that were the black plague, the 100 years war, and many political reforms in England. A last example is they established an effective central government. There were many other changes made to politics. The politics and government did have a changing effect to the renaissance. Another factor that changed the renaissance was the economy. For instance, the move there was toward using money. There were more than 20 city-states in Italy using its own currency. People began using coins to buy goods, which created a money economy. There was a need for people to change money and convert one type of currency to another. Thus, many merchants, crafts people, and bankers became important in society. Another example is Medici’s bank. In the 15th century Cosimo de Medici opened a bank, and began to open up branches in major cities in Europe. Therefore, it shows the economy during the renaissance changed in an uprising way. My last factor of change during the renaissance is the social change. In the middle age, they found trade routes to be able to trade in goods from different city-states. The trade grew between cities, states, and other countries. Trades in goods and in ideas also had increased. Along with the trade, Florence became a wealthy city inspite of its inland location away from the major trade routes. Italian cities became important as trade centers and commercial centers. Therefore, the wealth of it helped sustain the social and political changes that were occurring at that time. Overall, people became wealthier, and the changes in their trade became a social  change. In conclusion, the renaissance did have a change in society, that is unmatched to anything else in world history. The renaissance changed greatly throughout time. It changed in its political ways, the largest change being separating the church from state. The economy changed greatly, for instance the move to using money. People started using coins to buy goods and the economy rose. Then there was the social change that also had an effect. From prosperous growing cities to the increase in ideas and goods. Overall making the renaissance, the biggest uprising changes in history.

The Differences Between Taoism And Buddhism Philosophy Essay

The Differences Between Taoism And Buddhism Philosophy Essay Taoism is originated in China and many believe that it is started in the sixth century B.C. whereas Buddhism is said originated in the 500s B.C. in India. Both Taoism and Buddhism are great philosophical traditions and religions that have long histories and had strongly influenced and shaped the Chinese culture and values. These two religions have some similarities, they even considered as one kind in Malaysias culture. Both Taoism and Buddhism belief in reincarnation which means the life after death and both have similar ultimate goals. However, they are very different in their beliefs, practices and perspectives about individual life, society, values, culture, the environment and even the universe. Taoism and Buddhism have different objective principles, different views and beliefs about the life after death which is widely known as reincarnation, different ways and solutions to cooperate and solve the problems in life, and different perspectives and practices about marriage. The word Tao of Taoism in Chinese means the way or the path. In Taoism, its objective is to achieve Tao which means to attain the right path in life and by doing so; we will be able to become immortal. Besides that, Tao is sometimes also considered as the origin of everything which already existed and guiding the whole world and everything to work on their roles before the universe was being formed (Wow Essays, 2004). In Taoism, it is more focusing on personal or individual philosophy, because it is more focusing on how to achieve Tao, harmony and balancing of one-self and it do not motivate people to find ways and solutions to help and improve the community or society as in every individual should do it by herself or himself (EduBook, 2008). It is also said that everything in the world is simple, correct and good, life becomes complex is because human being choose to live a complex life (Wow Essays, 2004). On the other hand, in Buddhism beliefs live is suffering which is different by comparing with Taoism that believes that life is all about goodness, Buddhist believes that having illness or suffering is the nature of life which we cannot escape from (Difference Between, 2010). Birth, get old, get sick or ill, and death are the nature cycle of life. According to Buddhism, the only way to put suffering in life to an end is to understand the four noble truths of life and practice the noble eightfold path which are the right knowledge or understanding, right intention, right speech, right behavior or action, right livelihood, right effort, right mindfulness, and right concentration (Buddhist Temples). The first noble eightfold path is right knowledge that refers to the correct understanding of what is life about or the understanding about the four noble truths of life (Wow Essays, 2004). The second path is right intention means the right wills aspect which is to abstain from lusts, to gai n immunity of negative emotions such as hate and anger, and to be innocuous which is not to be violent or aggressive (Knierim T., 2010). The third path is right speech which brings the meaning of not to talk bad or harmful words and to be aware of what we are saying by choosing the right words and right tone. The forth path is right behavior or right actions which is to act in a correct way and the reasons of action or behavior, and this consists of the five main rules of Buddhism which are not to kill, pilfer, consume alcoholic drinks, commit in sex crimes, and also to be honest (Wow Essays, 2004). The fifth path is right livelihood which is to gain or earn money and wealth in the legal and moral way (Knierim T., 2010). The sixth path is right effort involves practicing the right will and control self-serving devotion and thirst (Wow Essays, 2004). The seventh path is right mindfulness which is to be aware and have the ability of see things without affected by the other people or e nvironment. The eighth path is right concentration refers to the mental force of focusing on the ultimate goal of Buddhism, and this involves practicing the meditation which is to clear your mind and develop the right concentration (Knierim T., 2010). Both Taoism and Buddhism believe in the life after death which is known as reincarnation (Wow Essays, 2004). They believe that life cycle does not have a beginning or an ending which simply means that life, death and rebirth are perceived as a continuous cycle; they think that death is not the end of the life (Valea E., n.d.). But both of them have different explanations and perspectives on reincarnation. According to Taoism, soul or spirit never die, it will be shift to the other body which is to reborn to be another person and this will be repeated until it attain the Tao. It is said that everyone has a inner light of oneself which can guide us back to clean and clear mind and pull away from distractions and lusts, Tao can only be obtained by following this inner light of oneself (Wow Essays, 2004). Taoism also believes that soul has the ability to travel through space and time and becomes immortal when Tao is achieved (Difference Between, 2010). Whereas in Buddhism beliefs, samsara, the wheel of rebirth and the sufferings of life will only come to an end when ones achieve Nirvana which is the highest or final state of the life cycle and become immortal (Religion Facts, 2010). The other belief of reincarnation in Buddhism that is different from the belief in Taoism is that Taoism believes that reborn is a transformation of soul from one human body to another, but according to the Buddhism belief, the cycle of birth, death and rebirth consist of good and evil behavior which divides the transmigration into three different stages and this lead to the transformation of souls into different forms respectively. The ones who act totally different way from the rules and practices of Buddhism will be send to the hell and this is the first stage of the transmigration. In the second stage, those who did something which is considered quite bad or evil will be transmigrating into animal forms, yet spirits will become more alike to human o r rebirth as a human again after turns of transmigration. The following stage which is the third stage, involves the spirit becomes chaste by putting down self egos and lusts which is change from aesthesis to non-aesthesis, and it also consist of going through many phases of spiritual transformation and rebirth; finally reach the Nirvana which is the ultimate goal of Buddhism. The stages of reincarnation is determined by ones action, it is said that the past action decide the current life, and present action decides the future life, because Buddhist believes that ones behavior is according to the mind and thoughts but not fate, therefore one shall deserve what it takes from the result of what he or she did (Wow Essays, 2004). Besides than the perspectives and beliefs, the difference between Buddhism and Taoism is the ways of handling and solving the problems in life such as health problems. According to Taoism, everything in this world has its own natural order, and the way to handle problems first is to understand the nature; the Yin-yang concept is the core concept of this particular principle. Yin-yang concept state that reality are binary which consist of the combination of two opposite elements to form the entirety by balancing these two totally opposite elements. In addition, by conquering the defectiveness of soul by attaining the balance of oneself, then lead to conducting the mental or cosmic energy that is known as Chi in one selfs body is believed that can help to heal illness or sickness of body (EduBook, 2008). The creation of the Tai Chi exercise is based on the Yin-yang concept which can help to circulate and balance the Chi in the body and maintain body health because Taoist believe that i llness are cause by the imbalance or jamming of Chi in the circulation of body (Robinson B.A., 2010) Meanwhile, in Buddhisms beliefs, problems in life like illness and sickness are a part of life; hence they should be accepted as the nature of life. Buddhism requires the finding of problems source; meditation is the practice of Buddhist that guide people to find focus, peace and calm in one self, and the presence of focus, peace and calm will help to identify the origin of problems and guidance to take good actions to overcome the problems (Knierim T., 2010). At the same time, unlike Taoists healing illness by balancing the opposite elements and conducting the Chi, Buddhists seek for medications (EduBook, 2008). However, because Buddhists believe in the nature of life, so herbal medications which are extracted and purified from the plants is the only medication that is used by Buddhists. Buddhism and Taoism are also different in how they look at relationships and marriage. According to Buddhism beliefs, marriage is not a necessary event ones life, so there is no special type of ceremony or practices for getting married. Besides that, sexual activity is only accepted socially and ethically when it takes place in marriage, and it is not accepted when there is not within a marriage relationship. Buddhism beliefs that in a marriage, both husband and wife will need to possess four important qualities to become a well-matched and maintain a good marriage, the four qualities are faith, virtue, generosity and wisdom. Faith requires the understanding between the husband and wife, it is through understanding each another helps to build up trust, honor and faith, and faith is the main key which will lead to the development of virtue, generosity and wisdom. According to Buddhism beliefs, satisfactions of the five senses and reproduction are the two main purposes of marriage beca use it is said that not a single figure, sound, smell, savor and touch can attract a man more than a woman and this same goes to a woman. Besides that, reproduction is important to the society because of the obligations of the family which means children will be the one who are responsible to take care and support the parents and protect and continue the unique customs of the family (Gamage C., 1998). On the other hand, Taoism believes that woman represents Yin and man represents Yang, and the Tao means the path to harmony will be achieved when a woman and a man get into a relationship and commit together as one, the Yin chi will be accepted by the man and Yang chi will be received by the woman, then both Yin and Yang will combined into one and balanced. Some people relate the word Tao with marriage by saying that marriage is the Tao to future means the way or path towards the future because the life after marriage is like a new life and through marriage babies are born: babies are the hope and creation for the future. At the same time, since Taoism emphasize on balancing and harmony of nature, it also laid stress on the harmony of the relationships between people especially for husband and wife. Thus, husband and wife should avoid confrontations and serious conflicts. Prevention of confrontations or even conflicts can be made by calm, love, caring, respect, acceptance, humility, communication, emotional control, self-awareness, self reflections, sacrifice, and support and understanding of each another. On the whole, both Taoism and Buddhism are religions that guide people how to live a good life and teach the important values of life. These two religions have some similarities and sometimes these similarities may even cause people to mistaken that both of them are the same religion or some may mistaken the beliefs and practices of Buddhism and the beliefs and practices of Taoism. There are similar beliefs between these two religions such as both of them believe in the life after death and life cycle never end and also both have similar ultimate goal, but their objective principles, their understanding, beliefs and interpretation about the life after death, their perspectives and methods to deal with the problems especially health problems in life, and their point of view and practices in relationships and marriage are very different. Both have their unique and different way of thinking and interpretation of life. References List Buddhism Temples (n.d.). Buddhist Belief. The Noble Eightfold Path. Retrieved on October 27, 2010 from http://www.buddhist-temples.com/buddhism-facts/buddhist-belief.html Difference Between (2010). Difference Between Taoism and Buddhism. Taoism vs Buddhism. Retrieved on October 27, 2010 from http://www.differencebetween.net/miscellaneous/ difference-betweentaoism-and-buddhism/ EduBook (2008). Buddhism vs. Taoism. Retrieved on October 27, 2010 from http://www.edubook.com/buddhism-vs-taoism/22661/ Gamage, C. (1998). Buddhism Sensuality. Colombo: Karunaratne Sons Ltd. Knierim, T. (2010). The Noble Eightfold Path. Retrieved on October 27, 2010 from http://www.thebigview.com/buddhism/eightfoldpath.html ReligionFacts (2010). Buddhist Beliefs about the Afterlife. Nirvana. Retrieved on October 25, 2010 from http://www.religionfacts.com/buddhism/beliefs/afterlife.htm Robinson, B.A. (2010). Taoism (a.k.a. Daoism). Retrieved on October 27, 2010 from http://www.religioustolerance.org/taoism2.htm Valea, E. (n.d.). Reincarnation. Its meaning and consequences. Retrieved on October 26, 2010 from http://www.comparativereligion.com/reincarnation.html Wow Essays (2010). Buddhism and Taoism. Retrieved on October 27, 2010 from http://www.wowessays.com/dbase/af1/nyv94.shtml

Entertainment verse Education Essay -- Essays Papers

Entertainment verse Education A well cultured and experienced mother, Karen Springen, writes on her experience and opinion of keeping children from watching television. In the short essay â€Å"Why We Turned Out† Springen employs rhetorical strategies such as logical appeal, diction and persona to identify her argument. Although her arguments holds legitimate reasons to kick the age old American habit of television watching; television will always be a valid social enhancer and a way for people to connect even on a simple level. Springen’s main arguments uses logical appeal in her wish for her daughters to be physically and mentally active. One supporting fact she mentions from American Medical Association; children watching over 10 hours a week are more likely to be â€Å"overweight, aggressive and slow to learn.† Springens audience consists of new mothers deciding how the best way to raise their child. When reading her essay they too want their child to be physically and mentally active and upon hearing how TV causes such negative attributes. However, she does not mention how TV...

A Summer Trainng Report on Recruitment & Attrition Management

A Project Study Report On Training Undertaken at ICICI PRUDENTIAL LIFE INSURANCE CO. LTD. Titled â€Å"Recruitment and Attrition Management† Submitted in partial fulfillment for the Award of degree of Master of Business Administration Submitted By: – Submitted To:- ANITA SINGHAL Ms. Sonali Singh Chauhan MBA Part 3rdLecturer of MBA Department 2011 – 2013 PREFACE Theoretical knowledge without practical knowledge is of little value. Theoretical studies in the classroom are not sufficient to understand the functioning of complex & large sized organization.A student of management can have a theoretical knowledge, but he/she must have a practical knowledge too, so that he/she can be able to tackle the various problems that arise in business. Therefore, it becomes necessary for a management student to undergo any project work. Practical knowledge supplements the theoretical studies and covers all the possible area, which is left uncovered in classroom. A systematic prac tical training is necessary for a trainee to bring in him the confidence for job performance & mental preparation which enables him to take up future job responsibility.It exposes student to invaluable treasure of experiences. I had received training at ICICI Prudential Insurance Co. Ltd. Jaipur (Raj. ), in the Recruitment and Attrition Management. During the training program, I got the opportunity to learn valuable things regarding management. It was my fortune to get the training in a very healthy atmosphere. The management of the company offered learning situation, sufficient facilities & training opportunities to fulfill the objectives of training. The overall gain to me will be reflected in the report itself.This project has really exposed me to a far new world & I sincerely hope that â€Å"ICICI Prudential Insurance Co. † will find my study equally valuable as I found it in shaping my career. Acknowledgement A research study cannot be completed without the help guidance of various individual & institutions. I expressed my sincere thanks and gratitude to all those who made it possible for me to complete this report. With great pleasure and sincerity I wish to express my deepest sense of gratitude towards Mr.AMIT GOYAL (Branch Manager) for their valuable guidance and Practice suggestions and for patiently enduring my numerous queries I would highly thankful to Mr. Sudhanshu Shanker (Senior Manager Human Resources) who assigned this project to me and providing me the opportunity to complete this project with their guidance and experience. I wish to thank ICICI Prudential life Insurance Co. Jaipur, (Raj. ) for providing me an opportunity to work with them on this project. My stay in the organization has been a great learning experience.This exposure has greatly enriched me with knowledge. (ANITA SINGHAL) MBA – 3rd SEM Executive Summary Board of Directors: The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from th e finance industry both from India and abroad. Ms. Chanda D. Kochhar, Chairperson Mr. N. S. Kannan, Director Mr. K. Ramkumar, Director Mr. Barry Stowe, Director Mr. Adrian O’Connor, Director Mr. Keki Dadiseth, Independent Director Prof. Marti G. Subrahmanyam, Independent Director Ms. Rama Bijapurkar, Independent Director Mr.Vinod Kumar Dhall, Independent Direct INDEX Chapter NO. | | TOPIC| | PAGE NO. | 1| | INTRODUCTION TO THE INDUSTRY| | 7| 2| | INTRODUCTION TO THE ORGANISATION| | 10| 3| | RESEARCH METHODOLOGY| | 33| | | 3. 1 TITLE OF THE STUDY| | 33| | | 3. 2 DURATION OF THE PROJECT| | 33| | | 3. 3 OBJECTIVE OF STUDY| | 33| | | 3. 4 TYPE OF RESEARCH | | 34| | | 3. 5 SAMPLE SIZE AND METHOD OF SELECTING SAMPLE| | 35| | | 3. 6 SCOPE OF STUDY | | 35| | | 3. 7 LIMITATION OF STUDY| | 36| | | FACTS & FINDINGS| | 38| 5| | DATA ANALYSIS AND INTERPRETATION| | 40| 6| | SWOT ANALYSIS| | 54| 7| | CONCLUSION| | 57| 8| | RECOMMENDATION & SUGGESTIONS| | 59| 9| | APPENDIX| | 62| 10| | BIBLI OGRAPHY| | 65| CHAPTER – 1 INTRODUCTION TO THE INDUSTRY Overview of the Life Insurance Sector in India: With largest number of life insurance policies in force in the world, Insurance happens to  be a mega opportunity in India.It’s a business growing at the rate of 15-20 per cent annually and  presently is of the order of Rs 450 billion. Together with banking services, it adds about 7 per  cent to the country’s GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8 per cent of GDP. Yet, nearly 80 per cent of Indian populations are without life insurance cover, health insurance and non-life insurance continue to be below international standards. And this part of  the population is also subject to weak social security and pension systems with hardly any old age income security.This itself is an indicator that growth potential for the insurance sector is immense . A well-developed and evolved insurance s ector is needed for economic development as it  provides long term funds for  infrastructure development and  at the same time strengthens the risk  taking ability. It is estimated that over the next ten years India would require investments of the order of one trillion US dollars. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country.With a large capital outlay and long gestation periods, infrastructure projects are fraught with a multitude of risks throughout the development, construction and operation stages. These include risks associated with project implementation, including geological risks, maintenance, commercial and political risks. Without covering these risks the financial institutions are not willing to commit funds to the sector, especially because the financing of most private projects is on a limited or non- recourse basis. Insurance companies not only provide risk cover to nfrastr ucture projects, they also contribute long-term funds. In fact, insurance companies are an ideal source of long term debt and equity for infrastructure projects. With long term liability, they get a good asset- liability match by investing their funds in such  projects. IRDA regulations require insurance companies to invest not less than 15 percent of their  funds in infrastructure and social sectors. International Insurance companies also invest their  funds in such projects. Insurance is a federal subject in India. There are two legislations that govern the sector-The Insurance Act- 1938 and the IRDA Act- 1999.The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. Under  the current guidelines, there is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Committee.The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. A host of private insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001. CHAPTER – 2 INTRODUCTION TO THE ORGANIZATION Company Profile: ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank – one of  India's foremost financial services companies-and prudential plc – a leading international financial services group headquartered in the United Kingdom.Total capital infusion stands at Rs. 37. 72 billion, with ICICI Bank holding a stake of 74% and Prudential plc  h olding 26%. We began our operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Today, our nation-wide team comprises of over 954 branches in addition to 1,015  micro-offices, over 296,000 advisors; and 21 banc assurance partners. ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings.For three years in a row, ICICI Prudential has  been voted as India's Most Trusted Private Life Insurer, by The Economic Times – AC NielsenORG Marg survey of ‘Most Trusted Brands'. As we grow our distribution, product range and customer base, we continue to tirelessly uphold our commitment to deliver world-class financial solutions to customers all over  India. Company Promoters: ICICI Bank: ICICI Bank Limited  (NYSE:IBN) is India's  largest private sector bank  and the second largest bank in the country, with consolidated total assets of $ 121 billion as of March 31, 2008.ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s  presence currently spans 19 countries, including India. Prudential Plc: Established in London in 1848, Prudential plc, through its businesses in the UK, Europe, US, Asia and the Middle East, provides retail financial services products and services to more than 20 million customers, policyholder and unit holders and manages over ? 267 billion of funds worldwide (as of December 31, 2007).In Asia, Prudential is the leading European life insurance company with life operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Prudential is one of the largest retail fund managers for Asian sourced assets ex-Japan. Its fund management business has expanded into ten markets, compr ising of China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates. Vision and Mission Statement: Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer in the life insurance industry.This they hope to achieve through their commitment to excellence, focus on service, speed and innovation, and leveraging our technological expertise. The success of the organization will be founded on its strong focus on values and clarity of  purpose. These include: Understanding the needs of customers and offering them superior products and service  building long lasting relationships with their partners providing an enabling environment to foster growth and learning for their employees and above all building transparency in all our  dealings. They believe that they can play a significant role in redefining and reshaping the sector.Given the quality of their parentage and the commitment of their team, they feel that th ere will  be no limits to their growth. Board of Directors. The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad. Ms. Chanda D. Kochhar, Chairperson Mr. N. S. Kannan, Director Mr. K. Ramkumar, Director Mr. Barry Stowe, Director Mr. Adrian O’Connor, Director Mr. Keki Dadiseth, Independent Director Prof. Marti G. Subrahmanyam, Independent Director Ms. Rama Bijapurkar, Independent Director Mr. Vinod Kumar Dhall, Independent DirectPrinciples and Types of Insurance: Principles of Insurance: Insurance is a ‘risk transfer mechanism' – it transfers the financial risks of everyday life from you to an insurance company, but only in terms of the financial consequences of risk. Without insurance, if you car was damaged, it would cost you a lot of money to fix it or to buy another one. It could cost you even more to pay for compensation to someone else involved in an accident. Insurance prote cts  your financial  interests. It  cannot  alleviate the  emotional consequences of an accident. It cannot provide for humanitarian ideals.It can't help you with sentimental losses. But properly used, it will protect your financial investment in your car and your legal obligations should you have an accident. Insurable Interest Before you can insure anything, you must have a legally recognised financial interest in what you are insuring. For motor insurance, you can't take out an insurance policy on the car  driven by the latest film star in the hope that it will crash and you can claim. That is nothing more than gambling. You have no financial interest in the  well  being of the object insured and would gain by its destruction.But you can insure the car you own, or drive. You would suffer  financially if it is damaged or stolen and  benefit from its continued existence. Indemnity This word is used to describe the type of payment you would receive. A motor polic y and a household policy are both a contract of indemnity. It means, subject to the terms of the contract, you are entitled to be put back in the same financial position after a loss as you were in  before the loss. In terms of a ‘new for old' policy the measure of indemnity is agreed at the point of sale rather than the time of claim.The term is also sometime used to indicate if your insurer  will meet the claim at all. A refusal to indemnify is a refusal to pay the claim. ATTRITION It is important to understand the high attrition rate in Indian insurance sector, which stands presently around 35% taking into consideration the Recruitment and Selection of Insurance sales personnel, and various reasons behind the attrition rate are as follows: Controlling Attrition In an ideal world, employees work hard, love their job, worship their workplace, feel like a family and would never leave.But in the real world, employees quit at the drop of a hat. In today’s scenario, it is the major challenge before the insurance companies to control the high attrition rate. As the Indian insurance industry grows exponentially, companies are taking the big leap from survival strategy to competitive strategy. Hence, there is a constant thirst for the best and the brightest of employees, and the result is heavy attrition. In addition, there are several other reasons as to why employees quit. The reasons are too varied to be clubbed together, but the bottom line remains the same—it is all about money!Therefore, it is no wonder that the compensation levels in the industry are heading north. Companies are literally bidding for talent and luring away employees with attractive salaries and designations. While HR experts define it the function of demand and supply, it is a serious concern for employee retention. A Critical Issue After IT and BPO, it is now the insurance sector that is facing the issue of high attrition rates. For most HR managers, employee retentio n is the biggest challenge. Talent or human resource is a major asset for any company.Company Invest high amount of money for their recruitment, selection and training and what happens to company if these talents or employees leave the organization in short while seeking new opportunities. Indian Insurance Industry is one of the fastest growing knowledge based sector with annual attrition rate of around 30-35% compared to the global insurance attrition rate of 10-12% per annum. Current statistics show that higher attrition rate problem mainly exists in Marketing and R;D departments. Major reasons for high attrition rate, stated by employees during the survey are- 1.Inadequate salary or compensation plan. The immediate gain in salary package was found to be responsible for job change in 61 per cent of the cases. 2. Poor management 3. Uninteresting job 4. Lack of motivation Job Lacking Opportunity for Future Advancement Leaving company by the employee not only leads to loss of money f or the company in his training and development of knowledge but it also increase the threat of information security if employee moves to rival company and loss of the business. Whenever a well-trained and well-adapted employee leaves any organization, it creates a vacuum.The organization loses key skills, knowledge and business relationships, and it is not an easy task to find a sustainable substitute. Situation is worse when it happens at a critical (decision making) position, as there is a scarcity of such technical resources in the market. Attrition directly affects the company. Recruiting and training program for employees is an expensive affair. The company has to invest a lot while recruiting an employee. Attrition is a universal phenomenon and no industry is devoid of it, but the degree fluctuates from industry to industry.Major insurance companies in India are age-old and established, having their own culture and work practices and therefore, employee turnover will be a comm on phenomenon in such companies. Attrition is a serious issue in the insurance industry because the industry is knowledge-based and hence employees are its â€Å"assets†. Many HR experts believe that money, though a key factor, is not the only one which makes employees quit. Attrition also happens when people hate their working conditions, do not like their team-mates or perhaps do not like what they are doing.There are also cases when people leave their job for family reasons or when they wish to migrate. Experts also believe that organizational culture has a great impact on who stays and who goes. And the culture of an organization is determined by the quality of the relationship between bosses and their subordinates. According to a popular saying, employees never leave the company, they leave their bosses. An inefficient boss creates poor work culture, which is one of the frequent reasons for quitting. Employers often fail to understand the importance of providing opportun ities for development of their employees or their career growth.A conducive working atmosphere, good culture, training and career growth with adequate salary are some provisions that control attrition. Every employee comes to his organization with some aspiration. An organization is viewed as a place where employees meet their aspirations of growth and development, values of trust, teamwork and transparency. If a company respects them and their skills, realize their potential and provide them with a healthy environment to learn and grow with flexible compensation, employees take that as a strong reason to stay on.Recognizing the contribution of outstanding achievers also inspires others to try hard and put in their best. A good organizational behavior also focuses on areas like training, career development and believe in equipping workforce better on the professional front. Experts say that good organizational behavior is instrumental in extending the tenure of employees in the orga nization as it increases their self-esteem, confidence, morale and motivation. A substantial growth of employee’s self-esteem is as important as the concept of learning in the industry.Otherwise, experts fear that insurance organizations will meet a sorry fate as far as retention policies are concerned. Attrition is the Function of Demand and Supply The demand comes from the growth of the industry and the policy of the company. These two things decide whether there is a demand of fresher or experienced employees. On the other hand, the supply comes from the educational institutions and the market. Normally the supply from the educational institutions is enough to meet the demands of the insurance industry, there is a lack of experienced people in the industry, which in turn has created an imbalance.The imbalance is crucial to the growth of the industry. While the industry is growing, not all companies are capable of taking fresh people and groom them. Hence, the current statu s demands experienced people and shortage of skills or retaining existing employees pose an issue for the industry. In the current scenario, the demand of experienced and good employees is actually outstripping the supply. In such a situation, higher salary structures pose a major challenge in controlling attrition levels in the industry. Moreover, the salary growth plan is not well defined as well. All this encourages poaching by companies offering higher salaries.Though the salary is decided keeping in line with the market trends, the qualification, experience and the attitude of the individual matters. Salary or even increments are dependent very much on what kind of value adding the person is or will do in the organization. Besides, HR experts from the industry believe that out paying is not a winning tactic for companies. The organization’s reward strategy reflects its power to drive quality employees. Apart from salary, recognition of work is a healthy retention strateg y. If the organization values its employees, recognizes and appreciates their skills and work, it pays.It is important to keep an eye on fast track people who are intelligent and excellent performers. Performance is a primary requirement; therefore, excellent performers should be valued. They should be identified, nurtured and provided growth opportunity. HR's Role and Strategies in ICICI PRUDENTIAL LIFE INSURANCE CO. As the struggle for reducing employee attrition rates is intensifying, recruiters are putting renewed efforts in identifying talent, which is committed and productive. However, while everyone is competing for talent, in experts' opinion, a hiring spree can be a blunder sometimes.Stringent recruitment process could help reduce attrition to a certain extent. An internal referral mechanism is also very useful in reducing attrition rates in companies. A thorough analysis of a candidate's background or behavior pattern, adaptability or liking would help the organization wit h good resource pool and less attrition rates. Hiring slayers rather than stars is yet another strategy. According to experts, some of the most talented people often have the tendency to move on. The reason being their eagerness to climb by shifting from one company to another. Frequent job hoppers are not the ultimate gainers. They gain or earn only in terms of money but those who opt to work in one organization for long are able to learn and gain experience which pays in the long term,† An efficient HR focuses on creating a good work culture and work out different strategies in line with organizational philosophy. According to experts, HR managers must use the combination of growth, learning opportunity and pay attention to employees' personal needs and participation. The needs of the employees should be regularly gauged through open communication, polls and feedback mechanisms to maintain consistency in performance and high motivation levels.Insurance employers need to unde rstand the same and deal this issue on a war footing so as to avoid loss of good employees and, also the business. This brings to the issue of recruitment and selection. If these initial steps are flawless, it also helps in reducing the attrition. SIGNIFICANCE OF RECRUITMENT AND SELECTION PROCESS â€Å"Recruitment and selection refers to the chain and sequence of activities pertaining to recruitment and selection of employable candidates and job seekers for an organization†. Every enterprise, business, and entrepreneurial firm has some well defined employment and recruitment policies and hiring procedures.Importance of Recruitment is given below: Attract and encourage more and more candidates to apply in the organization. * Create a talent pool of candidates to enable the selection of best candidates for the organization. * Determine present and future requirements of the organization in conjunction with its personnel planning and job analysis activities. * Recruitment is the process which links the employers with the Increase the pool of job candidates at minimum cost. * Help increase the success rate of selection process by decreasing number of visibly under qualified or overqualified job applicants. Help reduce the probability that job applicants once recruited and selected will leave the organization only after a short period of time. * Meet the organizations legal and social obligations regarding the composition of its workforce. * Begin identifying and preparing potential job applicants who will be appropriate candidates. * Increase organization and individual effectiveness of various recruiting techniques and sources for all types of job applicants. Factors Governing Recruitment External Factors * Supply and demand * Unemployment rate * Labor market * Potential social Sons of soil * Image Internal Factors * Recruitment policy of the organization * Composition of temporary and part time employees. * Preference to local people even by multinational s as they understand local language. * Size of recruitment * Cost of recruiting Fig. 1: The General Recruitment Process 1. Identify vacancy 2. Prepare job description and person specification 3. Advertising the vacancy 4. Managing the response 5. Short-listing 6. Arrange interviews 7. Conducting interview and decision making. The recruitment process is immediately follow by the selection process i. . the final interviews and the decision making, conveying the decision and the appointment formalities. Recruitment and Selection are perhaps the most important tasks for an organization. Recruitment refers to the process of searching and appointing prospective candidates in an organization. An organization must undertake the recruitment procedure if it wants to appoint the right people under its employment. According to Edwin B. Flippo, â€Å"Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organization†. A process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected†. â€Å"Recruitment is the activity that links the employers and the jobseekers†. Sources of recruitment Why Does Organization Prefer Internal Sources? * Internal recruitment can be used as a technique of motivation. Suitability of internal candidate can be judged better than the external. * Candidates as â€Å"known devils are better than unknown angels†. Employee’s psychology needs can be met by providing an opportunity for advancement. * Employee’s economic needs can be met by providing an opportunity for advancement. * Cost of selection can be minimized. * Cost of training, induction, orientation, etc can be minimized. SELECTION PROCESS in ICICI PRUDENTIAL LIFE INSURANCE CO. The main objective of a selection procedur e is to determine whether an applicant meets the qualification for a specific job, and then to choose the applicant who is most likely to perform well in that job.The entire process of selection begins with an initial screening interview and concludes with a final employment decision. When a selection policy is formulated, organizational requirement like technical and professional dimensions are kept in mind. Selecting a suitable candidate can be the biggest challenge for any organization. According to Dale Yoder – â€Å"Selection is the process in which candidates for employment are divided into 2 classes – those who are to be offered employment and those who are not. † 1) Pre Interview Screening This is generally the starting point of any employee selection process.Pre Interview screening eliminates unqualified applicants and helps save time. Applications received from various sources are scrutinized and irrelevant ones are discarded. A preliminary Interview i s conducted. 2) Preliminary Interview The application of candidate whose screening is successful is found to be eligible for the preliminary interview which covers the personal as well professional details of the prospective candidate. 3) Final Interview This interview is formal in depth conversation conducted to evaluate applicant’s acceptability. 4) Medical ExaminationIf all goes well, then at this stage, a medical examination is conducted to make sure that the candidate enjoys sound health and does not suffer from any serious ailment. 5) Checking References Most application forms include a section that requires prospective candidates to put down names of a few references. References are contacted to get a feedback on the person in question including his behavior, skills, conduct etc. 6) Job Offer A candidate who clears all the steps is finally considered right for a particular job and is presented with the job offer. An applicant can be dropped at any given stage if consid ered unfit for the job.Only after successfully clearing all the hurdles, an applicant can enjoy the feeling of being selected for a particular job. 7) Induction Programme New entrants after joining are given induction programme. It helps the new employee to understand and develop a sense of identification with the company and he can clearly understand his job and will be able to perform his work in good manner. HR POLICIES AND PROCEDURE HR department deals with the management of human resources. It is responsible for the creation of harmonious working relations among the participants of the organization.It effectively deals with the process of planning, directing, developing, and utilization of human resources available to the company. Personnel department basically involved with the management of personnel or human resources. Personnel management is the planning, organizing, directing, and controlling the procurement, development, integration, maintenance and separation of the huma n resources to the end that individual, organizational and social objectives are accomplished. Recruitment Checklist of ICICI PRUDENTIAL LIFE INSURANCE CO. * Has the vacancy been agreed by the responsible HOD? Is there up-to-date job description? * What are the conditions of employment for their vacant positions? * Has a candidate specification been prepared? * Has the manpower requisition form been submitted earlier? * Has the job advertisement been agreed? * Have the interview arrangement been made? * Have unsuitable candidates held in reserved been informed? Explanation of Recruitment Process Steps in Recruitment process are as follows: 1) Requirement Gathering: Requirement gathering starts with the job description provided by the different department.The manpower requisition forms are provided by the HR department and then filled by the respected departments. Job description contains criteria such as qualification, professional experience, designation in the organization, urgenc y of manpower requirement in the organization. 2) Analysis of the Requirement: It is a clear requirement with a detailed explanation. A clear understanding enables a recruiter to provide a valuable manpower to the required department in terms of giving them a right candidate that matches up their requirement and to provide a candidate with good opportunity to sharpen his skills and achieve his personal goals. ) Sourcing of CVs: In order to find the relevant profile for the job, it is very essential to search the CVs. This can be done in following ways: * Casual application from local places. * Contacts through the present employees. * Data bank * Portals, such as Naukri. com * Former employee * Campus interview. 4) Screening of CVs: This is very important step. It decides whether the CV matches the job description given by the department head. In this step the recruiter has to study the following details in deep:- †¢ Date of birth †¢ Highest qualification †¢ Experienc e †¢ Skills †¢ Expected salary, etc. ) Arranging the interview: After screening the CVs, the interview schedule is scheduled by the recruiter. Once the schedule is fixed, candidates are called for interview. 6) At the time of interview: Candidate is given the personal data form to fill before the interview. Personal data form covers all the in depth information of candidate. Personal data form and resume attached to it is handed over to the interviewer before an interview. Then preliminary interview and final interview is conducted. 7) Medical Checkup: Selected candidates are sent to medical checkup with pre medical checkup form.The main objective of this test is to detect whether the applicant is physically fit to perform work or not and to protect the employer from worker compensation claims. 8) Reference Check: Reference check is made for an experienced candidate. Many employer request name, contact number, address of reference for verifying the additional background in formation of the candidate. 9) Documentation: After the reference check is positive, candidate is called for further procedure of documentation. After documentation the candidates are provided with offer letter. 10) Induction Programme:New entrants are given induction programme. It helps the new employee to develop the sense of identification with the company. The newly entrants is given information about the major products, departments and organization, key statistics. This helps the newly joined employees to understand their work in a better way. Criteria for Recruiting a Medical Representative A Check List 1. Age It is advisable to select them young, usually between 21 and 25 years. 2. Education Depending upon the level of technical knowledge required for promoting your products you can decide on this. 3. ExperienceIt may be advisable to select a fresh graduate with good scholastic record and extracurricular activities. Some companies prefer limited experience of a year or two in similar companies. In the case of an experienced candidate look for his accomplishment, tract record, etc. 4. Appearance A pleasing personality is always preferred. 5. Manners He / she should have good manners as he moves in a sophisticated highly educated class. 6. Voice and Expression There should be clarity of voice, modulation and grammar 7. Reactions Alertness, quickness of response. 8. Drive Ability to stimulate, enthuse others and self-assurance. . Intelligence Comprehension, reasoning ability, keenness and smartness is expected of him/her. 10. Interest Sincerity of ambitions and personal goals, interest in other people. CHAPTER – 3 RESEARCH METHODOLOGY The core concept underlying research is its methodology. The methodology controls the study, dictates the acquisition of the data, and arranges them in logical relationships, sets up a means of refining the raw data, contrives an approach so that the meanings that lie below the surface of those data become manifest, an d finally issue a conclusion or series of conclusions that lead to an expansion of knowledge.The entire process is a unified effort as well as an appreciation of its component parts. According to J. W. B. est, â€Å"Research is considered to be formal, systematic, intensive process of carrying on the scientific method of analysis. It involves a more systematic structure of investigation usually resulting in some sort of formal record of procedures and report of result or conclusions. † According to P. M. Cook, â€Å"Research is an honest, exhaustive, intelligent searching for facts and their meanings or implications with reference to a given problem.It is the process of arriving at dependable solutions to problem through planned and systematic collection, analysis and interpretation of data. The best research is that which is reliable, verifiable and exhaustive so that it provides information in which we have confidence. † 3. 1 Title of the Study: Recruitment and Attri tion Management 3. 2 Duration of the Project: 2 Months (25th June to 24th August) 3. 3 Objective of the study The objectives of the study are as follows: * To understand the concept and mechanism of insurance. * To have an overall view of the Recruitment Process in a leading private sector company. To get a firsthand knowledge as regards to the proper implementation of the extent Recruitment Policies in ICICI PRUDENTIAL LIFE INSURANCE and its preparedness to meet the new challenges in the area of Recruitment. * To review the Human Resource Policies of ICICI PRUDENTIAL LIFE INSURANCE and compare with them Human Resource philosophy given in the literature. * To observe any legal requirement which apply to the recruitment and selection process. * To get familiar with the organization. * Getting practical experience regarding the organizational function. To learn about the policies and functions of the organization. * To understand the culture in the organization and its effect on emplo yees. * To get industrial exposure and experience. 3. 4 Type of the Research To get complete knowledge about the recruitment and selection activities information are gathered on the basis of both primary and secondary sources. PRIMARY DATA : Primary data are those which are a fresh and for the first time and thus happen to be original in character. Primary data were collected by direct interview with the authorities and staffs and by observation and participation.SECONDARY DATA : Secondary data are those which have already been collected by someone else and which have been passed through the statistical process. Secondary data were collected from various records kept in departments, company profiles, magazines and websites. 3. 5 Sample size and Method of selecting sample SAMPLING SIZE: 100 It means how many people to survey. SAMPLING UNIT: The researcher must define the target population that will be surveyed the sampling unit for my survey is wholesalers, retailers, masons, contrac tor and consumer of Rajasthan State.SAMPLING PROCEDURE: RANDOM SAMPLING Due to the time limitation and lack of sufficient knowledge I confined my study till random sampling. 3. 6 Scope of the Study Recruitment is the process of searching for prospective employees and stimulating them to apply for job in the organization. Recruitment is a positive process of searching for prospective employees, whereas selection is a negative process because it involves rejection of unsuitable candidates. Today the scope of the recruitment is very broad. The scope of the recruitment at ICICI PRUDENTIAL LIFE INSURANCE CO. enerally covers the following steps: – * Enhancement of productivity. * Quality manpower. * Committed job assignment. * Development of teamwork. * Better utilization of existing manpower 3. 7 Limitation of the Study The present research work is undertaken to maximize objectivity and minimize the errors. However, there are certain limitations of the study, which are to be taken in to consideration for the present research work. * The study was conducted only for the performance of Insurance advisors, Adayar branch Chennai city. It may not be suitable for other organizational employees. The advisor’s behavior may not be same in other branches in Chennai city or country, because of the difference in their performance, target, motivation, attitude, approaches with customers, culture, and working environment etc. * The research was done based on the details provided by the 70 advisors; the conclusion derived may not be wholly applicable to all branches in the city. The study is conducted with the help of the database provided by the Unit manager. * As the target population is large and due to the time constraint, convenience sampling technique was used to select the respondent. Chapter-4 FACTS AND FINDINGS Majority of the respondents believed that larger risk coverage of their policy was the main feature that attracted them to buy that policy, low prem ium was the next important feature. * ICICI Prudential is the largest private player in the insurance  industry in India. * Due to the increasing concern of people towards their health/life the life insurance  business has good prospects. * There are few short term plans which are not known to the  public. * Company has high policy charges which are not affordable by the lower middle and lower class people. * Out of total population of 1 billion of country, only 22% have insurance cover.So we can say that there is still large potential for both the public and private companies. Private companies have to give varied customized product to compete with the LIC which is holding about 97% of the total market. CHAPTER-5 ANALYSIS AND INTERPRETATION 1. What is the biggest benefit of life insurance? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Security| 40| 80| 2| commission| 5| 10| 3| Protection of wealth| 5| 10| 4| all| 0| 0| total| | 50| 100| Analysis: Interpretation: The ab ove graph shows that the biggest benefit of life insurance is security with 80% and the next two shows the equal % that is 10% benefit ) Is there any performance incentives? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| yes| 47| 94| 2| no| 3| 6| total| | 50| 100| Analysis: Interpretation: The above graph shows the performance incentives are 100% given in the company. 3) How do you recruit employees in ICICI PRUDENTIAL LIFE INSURANCE CO.? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| References| 3| 6| 2| Advertisements| 5| 10| 3| Consultancy| 35| 70| 4| Walk-ins| 7| 14| total| | 50| 100| ANALYSIS: INTERPRETATION: The hiring process in this company is done by consultancy of 35 respondents and next is through walk-ins. ) How frequently you recruit employees? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 6 months| 5| 10| 2| 1 year| 0| 0| 3| 3 months| 5| 10| 4| Every month| 40| 80| total| | 50| 100| ANALYSIS: INTERPRETATION: In this company the employees are recruite d frequently for every month for this the respondents are 80%, after this 3 months and 6 months are 20%. 5) What is the range on scale of getting maximum ; good quality profiles? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Average| 35| 70| 2| Good | 10| 20| 3| Very good| 5| 10| 4| excellent| 0| 0| total| | 50| 100|ANALYSIS: INTERPRETATION: The above graph shows that the range of getting good quality profiles are average are 70%,and good are 20% and very good is shown by 10%. So no excellent are there. 6) Under what criteria do you consider while screening the profile? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Age | 5| 10| 2| Qualification| 7| 14| 3| Work experience| 38| 76| 4| References if any| 0| 0| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows while screening the profile work experience is given more importance by 76%, and next by qualification by 14%. ) What is the % of candidates who clear the aptitude test? SL. NO| RESPONSE| NO OF RESPON DENTS| PECENTAGE %| 1| 100| 0| 0| 2| 70| 10| 20| 3| 80| 35| 70| 4| 50| 5| 10| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows the % of 70% of the candidates clear the aptitude test. 8) Do you normally provide training skill development to new recruits? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| yes| 42| 84| 2| no| 8| 16| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows the training provided to new recruits is yes by 84% and no by 16%.So training is provided to some extent. 9) How many steps include in selection process? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 5| 7| 14| 2| 6| 0| 0| 3| 8| 0| 0| 4| 4| 43| 86| total| | 50| 100| ANALYSIS: INTERPRETATION: The above graph shows the selection processes include mostly 4 and sometimes 5 in this it show 86% include 4 steps. 10) After selection of candidates what is the time for offer release? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| Same day| 0| 0| 2| 3-5 days| 37| 74| 3| 1- 2 days| 10| 20| 4| 7 days| 3| 6| total| | 50| 100| ANALYSIS: INTERPRETATION:The above graph shows after selection the offer letter is given to the selected candidate in 3-5 days and if the candidate is good then 1-2 days 11) What is the employment rate in ICICI PRUDENTIAL LIFE INSURANCE in a year? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 70 | 5| 10| 2| 80| 35| 70| 3| 90| 10| 20| 4| 100| 0| 0| total| | 50| 100| Analysis: INTERPRETATION: The above graph shows the employment rate in ICICI PRUDENTIAL LIFE INSURANE is 70% in a year and 35 are accepted. 12) What is the experience required for HR position in ICICI PRUDENTIAL LIFE INSURANCE? SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| | 3 years| 5| 10| 2| 4 years| 15| 30| 3| 2 years| 0| 0| 4| 5 years| 30| 60| total| | 50| 100| ANALYSIS: INTERPRETATION: The experience required for HR position in ICICI PRUDENTIAL LIFE INSURANCE CO. is 5 years and accepted by 30 members. 13) What is attrition rate in ICICI PRUDENTIAL LIFE INS URANCE? (No. of employees leaving the company in a year) SL. NO| RESPONSE| NO OF RESPONDENTS| PECENTAGE %| 1| 50| 40| 80| 2| 60| 10| 20| 3| 80| 0| 0| 4| 30| 0| 0| total| | 50| 100| ANALYSIS: INTERPRETATION: The attrition rate in ICICI PRUDENTIAL LIFE INSURANCE is 50%, and accepted by 40 members. CHAPTER-6 SWOT ANALYSIS S.W. O. T Analysis of ICICI Prudential Life Insurance: Strength: * ICICI Prudential is one of the largest financial institutions of India. * Money power, which makes them ignorant about the gestation period. * Motivation factors provided by the Company. * Service quality, which is the crux of their mission. * A huge data base of corporate clients, retail customer, and bank customersof ICICI. * Highest paid up capital deposited  in IRDA, in comparison to all players. * Training provided to all people associating with ICICI Prudential. Weakness: * High targets for financial advisors and for the sales  departments. Many competitors in the market offer same product by the title difference in the premium and offerings. * Very huge premium of policies. * Problematic to advisors also. * Sustainable to risk associated with investments in money market. Opportunities: * Health insurance and pension schemes, an estimated market potential of  approximately $15 billion. * Tie up with more corporate agents all over India. And Tie up with broker  (agent) also. * Strong brand of company helps  to boost sales in market. * Attract more people of providing customer centric products. Threats: * Players like Bajaj and Birla Sun  life with low premium for the similar  plans. People are not aware of different distribution channels. * Threat from existing insurance players. * Threat from new entrants. * Changes in the policy of IRDA. CHAPTER-7 CONCLUSION Over the last few decades companies have increasingly begun to realize the importance of customer satisfaction. Where trading environments have become saturated and customers increasingly hard to come by, customer retention has become imperative as the customer-to-business level in the Indian context; the disconfirmation paradigm is still the predominant paradigm influencing the customer satisfaction process.As it is pivotal in this competitive era of globalization as every player in this banking industry is making various efforts to increase its pie share or if no increase at least maintains their market share. In relation to the primary research analysis undertook by me, inference can be portrayed that people are incline towards the LIC as they find them more reliable and they also prefer because of their long term relationship with the customer segment. So last we can say that for the insurance sector to succeed they must pay close attention to the revealed choice criteria of the customer in their decision making activity.Therefore customer relationship management programs must be designed to keep the customers intact that includes aligning product and service offerings with cust omer needs can only be achieved when sufficient knowledge of customer requirement has been captured. Thus accurately understanding the customer’s need is the most important step towards achieving customer satisfaction. CHAPTER-8 RECOMMENDATION AND SUGGESTON There are some recommendations: Open some more branches in semi urban and rural area: ICICI Prudential has almost its branches in urban area or  metros. So in order to increase the no. f customer, ICICI Prudential should increase the approach towards potential customers. For that it has to increase the branches in the semi urban cities like C, D grade  cities. And the rural marketing is the best option for  ICICI Prudential to increase its base in the market. Improve customer services: In order to take the advantage of being industry leader in private sector, ICICI Prudential has to improve its customer services. According to my experience in the company, a good number of customers forget to pay their premium at time so it causes a big loss to the company.ICICI Prudential has already collaborated with the ICICI bank for its Banc assurance facility and then  can include another feature in it. ICICI bank can offer a bank  account with the life insurance policy in which an ATM card will be  provided. This card will have  all the information regarding the policy as like future premium payment dates, payment made, money value of  the policy at that date, value of the unit linked plan and  all other information what the customer want. This will help the customer to pay premium on  time and save their losses.This will be mutually helpful for both sister companies, ICICI bank  will get new account and  ICICI prudential will be able to more efficient services to their customers. Bring some unit linked life insurance plans in the market. Being a market leader doesn’t ensure the leadership in the future. Since after  increment in FDI from 26% to 49%  all player will have the o pportunity to capture the market share. So in order to maintain its position ICICI Prudential should-Introduce some new market linked insurance plan, which will give a competitive advantage to the ICICI Prudential against its competitors.Trained the financial advisors more efficiently: In the changed scenario, more  efficient training will be needed, so ICICI Prudential should provide good and efficient training to their financial advisors. Because they are the one  who interact directly with the customers. So good training will give them the right way to deal  with the potential customers. Suggestions * LIC ; ICICI Prudential should work upon building good reputation of its brand as good reputation has direct effect on purchase of insurance product. LIC ; ICICI Prudential should work upon raising the awareness of the product and give more option and provide transparency so as to make selling of its product easier. * Advertising of the insurance product should stress on the ne ed of security. * Insurance should be popularized as the means of securing future rather than saving tax. * Policies should be issued quickly and with less formality. * Other services should be provided. * Reference group are the most effective medium of advertising insurance. CHAPTER-9 APPENDIX QUESTIONNAIRE 1. What is the biggest benefit of life insurance?A) Security B) commission C) protection of wealth D) all 2. Is there any performance incentives? A) Yes B) No 3. How frequently you recruit employees? A) 6 months B) 1 Year C) 3 months D) Every month 4. How do you recruit them? A) References B) Advertisements C) Consultancy D) Walk-ins 5. What is the range on scale of getting maximum ; good quality profiles? A) Average B) Good C) Very Good D) Excellent 6. Under what criteria do you consider while screening profile? A) Age B) Qualification C) Work Experience D) References if any 7.What is the % of candidates who clear the aptitude test? A) 10% B) 20% C) 30% D) 50% 8. Do you normal ly provide training skill development to new recruits? A) Yes B) No 9. If yes do you send your employees for external training? A) Training institutes B) workshops C) seminars D) none 10. How many steps include selection steps? A) 5 B) 6 C) 8 D) 4 11. On what skill sets candidates are selected in ICICI PRUDENTIAL LIFE INSURANCE CO.? A) Qualifications B) Capabilities C) Soft skills D) All the above 12. After selection of candidates what is the time for offer release?A) Same day B) 3-5 days C) 1-2 days D) 7 days 13. How do you evaluate a candidate in his/her HR interview? A) Aptitude B) Qualification C) Communication skills D) All 14. What is the experience required for HR position in ICICI PRUDENTIAL LIFE INSURANCE CO.? A) 3 Years B) 4 Years C) 2 Years D) 5 Years 15. What is the attrition rate in ICICI PRUDENTIAL LIFE INSURANCE CO? (Number of employees leaving the company in a year) A) 30% B) 40% C) 20% D) 10% 16. What are the top reasons for any improvement in attrition? Ans. 1. Ski lls Development 2. Communication 3. Promotion/Progress . Management Style 5. Work-Life Balance CHAPTER-10 BIBILOGRAPHY 1. ICFAI Human Resource Management – ICFAI University Press. 2. Gary Dessler, Human Resource Management- PHI Pvt. Ltd. , 2005. 3. G. C. Beri, Marketing Research- Tata McGraw-Hill Publishing Company Limited 4. Udai Parrek and T. Venkateshwara Rao, Designing and Managing Human Resource system, Oxford ; IBH publishing co. Pvt. Ltd. , 2003. 5. K. Aswathappa, Human Resource and Personnel Management, Tata McGraw-Hill Publishing Company Limited, 2005. * http://www. iciciprulife. com * http://www. google. com * http://www. wikipedia. com