Marketing Analysis on Ventura Boats †Free Samples to Students

Question: Discuss about the Marketing Analysis on Ventura Boats. Answer: Introduction Ventura Boats is a business that builds boats and is completely family-based. Since, 1961 it is situated in the Coffs harbor, in new south whales in Australia. The specialty of this organization is that it designs boats with traditional materials but focuses on high quality. However, it was successful until the domestic market in Australia started to shrink. Strengths Ventura sells their boats directly to their consumers, which is one of their strengths as this provides the company with a chance so that they can improve the relationship between their brand and the customers. It further helps in collecting the direct feedback of the customers as well (Bone 2017). Ventura boats have employees who have many years of experience and knowledge regarding boat building in Australia. Weaknesses Having no experience about the foreign markets Venturas traditional method of building its boats in this fast grow technological era is a very big weakness as they havent came up with any new model for many years and so its products are sinking in the Australian markets. Having obsolete boat producing technologies many of their boats can be confined by the Australian Government Legislation from using. They are unable to bring quick changes in their technology in spite of having skillful and experienced employees, which can actually stop their present products from becoming unlawful. Opportunities Increasing market growth in the foreign markets As the foreign governments places very less limitations on the utilization of traditional boats thus, their products can become lawful in the upcoming years (Terpstra, Foley and Sarathy 2012). The nations, which are transpiring with their developing economies, are producing the rich customers who can afford their passion for indulgence products. Threats With the passing time, there is an availability of substitutes in this business due to depreciation in the domestic market of Australia. More successful and updated companies of boat-builders are in search to buy small companies that can be their competitors just like Ventura so that they can grab their market share, dissolve their assets and finally close them completely. The employees are searching for better job opportunities because they are facing low morale due to the conditions inside Ventura boats. Thus, getting better job prospects they can leave Ventura boats. Threats and opportunity Analysis The opportunities that are discovered about Ventura Boats are that it has an increased growth of market in the foreign markets where the availability of trading partners is huge. However, as Ventura boats are the category leadership in this boat-building market is limited to Australia only thus, they are very inexperienced in the foreign markets. Moreover, the growth as well as the prospect in the foreign markets is vast. Another opportunity that came out clear was that unlike the Australian government legislations, the foreign governments apply very few limitations in utilizing traditional boats. Thus, from this it has been very clear that if Ventura reaches out to the foreign markets with their present products then they can definitely make their products lawful that are almost on the verge of becoming unlawful due to Venturas outdated technologies. However, economically developing countries like china, South East Asia, South Korea, Poland and Germany all have better opportunities for Ventura to export their traditional boats because here the consumers are mainly rich and can afford expensive products (Baldwin and Lopez?Gonzalez 2015). Ventura has few threats as well and the biggest of them are the emerging substitutes because the internal markets in Australia are sinking and thus, customers are switching on to the substitutes where they can get updated products in proper price range. Bigger companies are searching to take over smaller companies like Ventura so that they can close them fully by occupying their market shares. Larger companies have more recognition of their brands, significant Human Resources along with their economy scale. Therefore, for them it becomes very easy to take over small businesses and finish them. The largest threat is the de-motivated employees in Ventura due to their market conditions. Thus, their experiences and skillful employees are searching for better job offers, which is the biggest threat for any company. Thus, threat can in future cause low productivity, huge turnover and negative organizational. Recommendations Thus from the above weaknesses, threats and opportunities of Ventura boats the recommendations that can be suggested keeping in mind Ansoff matrix are as below- The first thing that they must focus on is to get them updated with technology. In todays era, technology is growing so fast that it is overtaking everyone under it. Thus, they must also include technology in their boat manufacturing techniques. This can not only help their market value from depreciating but also help their products from getting illegal by the Australian Government. Thus, product development is taking place that can satisfy the changing needs of the customers (Shaw 2012). Their approach must be quick so that it becomes a challenge for their employees to involve the flavor of technology to their business. This will also stop the employees who are searching for better job opportunities. The next work that they must do is to try their luck in foreign markets. China, South Korea, Germany are all having high opportunities for this type of businesses. They have high market values and they it can be a huge success for Ventura if they try out there. In foreign markets, they put fewer or no limitations for the use of traditional boats that can be another advantage. Thus, market development is taking place with new market segments with their own products (Proctor 2014). Apart from that, foreign countries, which are having rich customers, can also buy the traditionally designed boats of Ventura for fulfilling their boats. This will in a way help Ventura from completely fade away from the developing markets. Lastly, to overcome the threats of the substitutes Ventura must focus on their performance which is lacking. This is very much due to the de-motivated employees and their internal conditions. For the time being they must lower, the products price a bit to attract their customers and gain their support. Thus, the market penetration strategy will work here where the company can sell their already existing products and gain market shares (Zarzewska?Bielawska 2012). Thus, Ventura must pay more attention on their employees, start from zero, they must act carefully as fast as possible, people must be calm rather than being anxious and the employees must be aware of the true situation and get equal chance to turn around themselves for the betterment of the company. This will further help them in diversification where they can come up with new range of products with developing technology and motivated staffs (Hussain et al. 2013). Conclusion Thus from the above case analysis it can be concluded that to deal with the current conditions of Ventura boats the organization should quickly focus on upgrading their technology and try to make connections to foreign markets. Reference Baldwin, R. and Lopez?Gonzalez, J., 2015. Supply?chain Trade: A Portrait of Global Patterns and Several Testable Hypotheses.The World Economy,38(11), pp.1682-1721. Bone, J., 2017.The hard sell: an ethnographic study of the direct selling industry. Routledge. Hussain, S., Khattak, J., Rizwan, A. and Latif, M.A., 2013. ANSOFF matrix, environment, and growth-an interactive triangle.Management and Administrative Sciences Review,2(2), pp.196-206. Proctor, T., 2014.Strategic marketing: an introduction. Routledge. Shaw, E.H., 2012. Marketing strategy: From the origin of the concept to the development of a conceptual framework.Journal of Historical Research in Marketing,4(1), pp.30-55. Terpstra, V., Foley, J. and Sarathy, R., 2012.International marketing. Naper Press. Zarzewska?Bielawska, A., 2012. The strategic dilemmas of innovative enterprises: proposals for high?technology sectors.RD Management,42(4), pp.303-314.

Financial Management for Development Bank- myassignmenthelp.com

Question: Discuss about theFinancial Management for Development Bank of Singapore. Answer: Introduction The main purpose of this assignment is to analyse the dividend policy of a company. The company selected for this assignment is Development Bank of Singapore(DBS). The dividend policy was made famous since the introduction of the dividend irrelevance theory introduced by Modigliani and Miller. The bank is engaged in providing financial services to the public and has more than 280 branches in operations. The bank has its headquarter situated in Singapore and is considered to be one of the larger branches in Asia (DBS Bank | Singapore., 2018). As one of the most prominent banks in Singapore, DBS has lots of shareholders, which means managers must be keen of decisions in terms of how much dividend payout should be. Dividend Policy Normally in practice there are three methods which businesses uses for purpose of dividend computation which are discussed below: Constant Dividend Model: As per this model, the company offers dividends on a constant rate to the shareholders of the company every year (Hashemijoo, Mahdavi-Ardekani Younesi, 2012). This type of dividend model is rarely used in the modern times as the investors who invest in the companies also need growths in dividends. The advantages which are associated with the dividend model are discussed below: The payout of dividends is simple for the company and it only depends on the earnings of the company as the rate of dividend remains fixed Following this model, the company is able to send messages to the shareholders about the performance of the company. The disadvantages which are there for following this dividend model are given below: The dividends are fluctuating in nature and if such dividends are low then the it will not be pleasing the shareholders. There is no scope of growth under this dividend model. Constant Growth Model: As per this model, the company declares dividends every year and the rate of the dividend is on a growing trend (Kiechle Lampenius, 2012). The dividend offered by the company shows growth and the shareholders of the company enjoys increasing dividends per year. This type of dividends is most commonly offered to the investors of the company. The advantages which are associated with such a method of dividends are: The shareholders expectations are met with such type of dividends as they are growing and it satisfies the shareholders of the company. Attracts new potential investors in the company as the company is offering better amount of dividends. The disadvantages which are associated with the model is that: The dividend policy of the company is costly for the company and the company might not be able keep up with the expenses. The ability of the company make further investments might get hampered as major part of the profits are distributed as dividends under this model. Residual Income Approach: As per this model, the dividend which is allowed depends on the part of profit which is left with the business after preference payments and a part of the profit is retained for reinvestment (Van Binsbergen, Brandt Koijen, 2012). The various advantages which the model faces are given below: The model allows the company to distribute the remaining part of the dividends as profit. In other words, companies are allowed to invest in projects and they only need to pay dividends if a part of the profit remains. The model is quite simple and easy for the companies to follow. The disadvantages which are associated with this model are discussed below: The dividends payments do not follow a trend that is either increasing or decreasing and hence the payments are fluctuating which is not a reliant income source for the shareholders and they might get discouraged. The model also affects the share prices of the company and makes them fluctuating. As per MM model on Dividend Relevance theory, the dividends should be paid to the shareholders on the basis of residual income approach as the method will allow the business to have ample funds in order to invest in further projects. It also stated that the dividend policy of the business did not have any impact on the value of the firm. The dividends which are offered to the business are of important as this represent that the company is performing well and earning profit and the dividend is a part of such a profit which the company is distributing. In the case of DBS, the company is in the habit of following Constant Growth Model as the dividends which are announced by the company is on an increasing trend and the financial statements of the company also show that the company has proposed in 2017 a dividend of 60 cents per share and such represents 55% increase in the shares of the company (Deshmukh, Goel Howe, 2013). The company has also proposed a special dividend of 50 cents per share (DBS Bank | Singapore., 2018). This suggest that the company has been following constant growth model. The dividend rate of the company has increased from the previous year and moreover the financial statement clearly states that the dividend has increased by 55% from last years analysis. Forecasting Revenue The company has been performing well in terms of revenue generation and overall profitability. The financial statement of the company for the year 2017 clearly states that 2017 has been the breakthrough year for the bank in terms of digital banking operations and general practices (Blanchard Leigh, 2013). It is expected that 2018 will be even better as the company has made plans which if rightly implemented can produce favorable results for the banks. The bank has taken over the retail and wealth franchise of ANZ across five markets as stated in the financial statements. The focused areas of business for DBS in the year 2018 will be to further develop the digital and data analytics capability of the bank, continuing the good work which the company is doing in cash management of the company, build new sustainable SME business in growing markets which can contribute to the revenue of the company, ANZ business development which will be contributing to the profits of the company in 2018 . The business of ANZ will be providing the bank will additional revenue in 2018 which can be a significant amount in the development of the business. It is also expected that the business of ANZ will be contributing net profits for the banks in 2018 which will be more than what was initially expected from the business. The overall wealth of the bank has also increased by 25% in 2017 and it is expected to further rise in 2018 (DBS Bank | Singapore., 2018). The company has an annual net income of $ 11.9 billion which is expected to rise to about $ 15 billion in 2018. The total assets of the company are also expected to increase from last year figure which is $ 518 billion and will be increasing to about $ 570 billion in 2018. Moreover, the total numbers of employee which are working under the bank will also be increasing. There has been anticipated that the company will be attaining more growth in next year. Moreover, the business has also diversified in the field of insurance by ent ering into a partnership with Chubb, which is the global leaders in general insurance and reinsurance which will be effective from January and it is expected that this will also significantly help the business in terms of revenue generation. In addition to this the bank is planning to add Digi loans and Digi Bancassurance services in 2018 which will be contributing to the total revenue of the company significantly. Thus, from the above discussion it can be forecasted that the revenue of the company will be significantly more than 2017 and the business can expect an even better year coming ahead. Reflective Assessment The assignment which I was given related to analyzing the operations of the company which for me was Development Bank of Singapore. The assignment required me to operate in a group and complete it by assigning part of the assignment to different members of the group. As per the agreements my part of the assignment was Question 2 and Question 3 of the assignment. The first question required me to analyze the dividend policy of the company and also state what are the various other options or policies which can be used for dividends. A detailed analysis of the dividend policies which are mostly used by companies. I came across various dividend policies which and also understood the basic difference between them. Then by analyzing the financial report of DBS I understood that the company is following constant growth model as explained in question 1 above. The second question required me to analyze the financial statements of the company in order to understand the strategies which the com pany will be adopting for the next year which is 2018 for overall revenue generation. I had to forecast the revenue generation capability of the company and understand what are the various sources through which the company can generate more revenues for the business. For such information I had to collect data from various site and refer certain journals as well. From the assessment of the part which I was assigned taught me certain things about how to handle a group assignment. Firstly, the thing is that a student needs to be sure that he will be able to do justice on the part which he or she has taken and not affect the group assignment. My group members were very cooperative and provides me pointers about how to go about with the assignment. I also learned that in order to analyze a situation of a company, first of all one need to collect all the information which he has access to and then understand them in order to develop a effective result. Secondly it is necessary to have an understanding of financial reports and how to interpret the same both the financial and non-financial part of the report. In addition to this, I feel that in order to perform even better in my future assignments I need to ensure that my knowledge of accounting principles and concepts are clear which can help me with the analysis part of the assignment. In this ass ignment I have applied basic knowledge which I had gained through internet and various books and journals to which I had access. Another thing which I learned from this assignment is the essence of team work and also integrating the various parts which are done by different team members. In any future assignment which I get, I will make sure that mu knowledge of accounts is brushed up and my concepts are clear and effective choose a part where I might be able to perform well in terms of assignment. Reference Blanchard, O. J., Leigh, D. (2013). Growth forecast errors and fiscal multipliers.American Economic Review,103(3), 117-20. DBS Bank | Singapore. (2018).Dbs.com.sg. Retrieved 31 March 2018, from https://www.dbs.com.sg/index/default.page Deshmukh, S., Goel, A. M., Howe, K. M. (2013). CEO overconfidence and dividend policy.Journal of Financial Intermediation,22(3), 440-463. Hashemijoo, M., Mahdavi-Ardekani, A., Younesi, N. (2012). The impact of dividend policy on share price volatility in the Malaysian stock market. Kiechle, D., Lampenius, N. (2012). Inflation and the constant growth model: Reconciling the literature.Abacus,48(4), 518-538. Van Binsbergen, J., Brandt, M., Koijen, R. (2012). On the timing and pricing of dividends.American Economic Review,102(4), 1596-1618.

Sample Essay About Nonverbal Communication in Doctor Office

Sample Essay About Nonverbal Communication in Doctor OfficeA sample essay about nonverbal communication in doctor office can be used to get a person's point across. By including some insights about how communication works, a doctor or surgeon can make a better first impression on the person that he or she is going to be working with. That first impression can mean the difference between doing well or failing at work. So, writing a good essay about nonverbal communication will not only benefit the person, but it can also help you as a physician.A good essay about nonverbal communication in doctor office can include information about the person's interests, hobbies, hobbies of a past boss or colleague, and more. The essay can also include information about the recent work experience or education. The idea is to include everything the person does have in common, and then compare them with your own interests.The first thing to look for is if the person's speech can be considered nonverba l. The person may be using body language, facial expressions, and body language to get your attention. If these things are present in the essay, you can use them. Or, you can combine those things to show that you have a better grasp of the person's interests. To really see the best writing skills, incorporate all the things you know about the person into the essay.Next, when writing an essay about nonverbal communication in doctor office, be sure to look at different professionals that you may have worked with. What was their communication style like? Can you write about their accomplishments, along with how they communicated with others?The way a person listens to another person's speech, facial expressions, and body language is a good indicator of whether or not he or she is a good listener. It shows that they have a good sense of what is going on around them. But, it can also be used to judge how skilled of a speaker the person is.There is a common sign that indicates that a pers on has a good sense of hearing. This sign is called the nodding head. When you nod your head during a conversation, this shows that you are listening. With some good writing skills, you can write about the patient's thoughts, rather than his or her actual words.A sample essay about nonverbal communication in doctor office can show the person the importance of the word 'and.' The person needs to know that a question is not always a statement. The person that he or she talk to might want to ask a follow up question after a statement is made. When a doctor tells a patient that his or her next step will be done through a certain procedure, and then walks away, the patient is left wondering if there is anything else that needs to be done.As you can see, writing a good essay about nonverbal communication in doctor office can be difficult. But, it is one of the most important parts of being a doctor or surgeon. So, a good first impression is what people are searching for.

102 Monsters and Difference Professor Ramos Blog

102 Monsters and Difference Thesis IV. The Monster Dwells at the Gates of Difference Quick Write Consider Cohens assertion that monsters can represent cultural , political, racial, economic, [and/or] sexual difference. In what ways have you seen this process occurring in your everyday life? Thesis IV. The Monster Dwells at the Gates of Difference People who are different can be viewed as monsters. Differences tend to be political, cultural, racial economic, sexual, not fitting into the norm. People make up stories that will form the different people into monsters. The â€Å"monsters† are a threat. Used to justify treating them differently. Going against what was considered the norm of the culture was considered monstrous. This included sexual orientation, , race, economic status, and political preference.; this allowed   actions against these â€Å"monsters†, or â€Å"not   normal† individuals to be justified. â€Å"Representing an anterior culture as monstrous justifies its displacement or extermination by rendering the act heroic† (Cohen). The monster is difference made flesh (7) for the most part, difference tends to be cultural, political, racial, economic, sexual (7) Sample Evaluations The Realm of the Pale Man Medusa! Monstrous Creature Representative of Feminism I am Fire, I am Death, I Smell a Barbeque These Humanoid Machines Are After More Than Just Your Manufacturing Job Evaluation Notes Writing an Evaluation: It is one thing to offer an opinion, yet it is an entirely different matter to back up a claim with reasons and evidence. Only when you do will readers take you seriously. You are evaluating one or more representations of a monster or category of monster. Explain your mission: Just what do you intend to evaluate and for whom? Are you writing for experts, a general audience, or novices? How much explaining do you need to do so that you audience follows you without getting annoyed with too much information. If it is a well known monster you do not have to go into detail to explain it to us. If it is one we would not generally know, you have some work to do to introduce and explain it. Establish and defend criteria: Criteria are the standards by which objects are measured. Successful presidents leave office with the country in better shape than when they entered. When readers are likely to share your criteria, you need to explain little about them. When readers disagree or object, be prepared to defend your principles. Remember: Monster Theory (Seven Theses) is a great starting point for establishing criteria. Offer convincing evidence: Evidence makes the connection between an opinion and the criteria for evaluation that supports it. Supply data to show that a product you judged faulty didn’t meet those minimal standards. The monster evidence should come from your primary sources of the monster. The movie, book, short story, video, etc. Offer worthwhile advice: Some evaluations are just for fun. Done right, most evaluations and reviews provide usable information, beneficial criticism or even ranked choices. Make sure to answer the so what question? Why does this matter? What can we learn about society or ourselves by understanding the monster? The Evaluation Essay Purpose of Evaluations Let’s look at an example evaluation for a movie. The Hunger Games: EW Review Lisa Schwarzbaum is reviewing â€Å"The Hunger Games† movie. Does she acknowledge what her mission is and who her audience is? What criteria does she establish for it to succeed? Does she anticipate her audience’s questions and reactions? Does she address any differences between the book and movie? What is her grade or judgment of the movie?

Hrm Case 3 Essays

Hrm Case 3 Essays Hrm Case 3 Essay Hrm Case 3 Essay HRM Incident 3: The Controversial Job David Rhine, compensation manager for Farrington Lingerie Company, was generally relaxed and good-natured. Although he was a no-nonsense, competent executive, David was one of the most popular managers in the company. This Friday morning, however, David was not his usual self. As chairperson of the company’s job evaluation committee, he had called a late morning meeting at which several jobs were to be considered for reevaluation. The jobs had already been rated and assigned to pay grade 3. But the office manager, Ben Butler, was upset that one was not rated higher. To press the issue, Ben had taken his case to two executives who were also members of the job evaluation committee. The two executives (production manager Bill Nelson and general marketing manager Betty Anderson) then requested that the job ratings be reviewed. Bill and Betty supported Ben’s side of the dispute, and David was not looking forward to the confrontation that was almost certain to occur. The controversial job was that of receptionist. Only one receptionist position existed in the company, and Marianne Sanders held it. Marianne had been with the firm 12 years- longer than any of the committee members. She was extremely efficient, and virtually all the executives in the company, including the president, had noticed and commented on her outstanding work. Bill Nelson and Betty Anderson were particularly pleased with Marianne because of the cordial manner in which she greeted and accommodated Farrington’s customers and vendors, who frequently visited the plant. They felt that Marianne projected a positive image of the company. When the meeting began, David said, â€Å"Good morning. I know that you’re busy, so let’s get the show on the road. We have several jobs to evaluate this morning and I suggest we begin Before he could finish his sentence, Bill interrupted, â€Å"I suggest we start with Marianne. † Betty nodded in agreement. When David regained his composure, he quietly but firmly asserted, â€Å"Bill, we are not here today to evaluate Marianne. Her supervisor does that at performance appraisal time. We’re meeting to evaluate jobs based on job content. In order to do this fairly, with regard to other jobs in the company, we must leave personalities out of our evaluation. † David then proceeded to pass out copies of the receptionist job description to Bill and Betty, who were obviously very irritated. See questions below. ob can be reclassified / re-evaluated if the duties or responsibilities of an employee have significantly changed or expanded over time, and the expanded duties have remained in place for at least six months. In these cases, the same review criteria are used as with new positions. Based on the rating system, the employee may be moved to a higher pay band, and may receive retroactive pay. QUESTIONS 1. Do you feel that David was justified in insisting that the job, not the person, be evaluated? Discuss. Job evaluation is a technique used to determine the value of each job in relation to all jobs within the organization. The job evaluation and the employee evaluation are based on two entirely different scales. The job evaluation clearly identifies and describes the task, creates the basis for the job description and relates to the tasks involved with the position itself The basic purpose of job evaluation is to eliminate pay inequities which may exist because of illogical pay structures, such as might develop over time if care is not taken in how compensation is determined. Job evaluation programs are generally administered by the human resource department and are usually conducted by a committee. The jobs people have are major determinants of the amount of financial compensation they will receive, and organizations pay for the value attached to certain duties, responsibilities, and other job-related factors, such as working conditions. The relative worth of jobs is usually determined through a combination of job analysis, job descriptions, and job evaluation. The employee evaluation measures the employees overall performance of their tasks as it relates to the overall success of the company. David was asked to evaluate the job for compensation purposes, which involves the job function, not the person who is performing the job. I do feel that David was justified in insisting that the job, not the person be evaluated. 2. Do you believe that there is a maximum rate of pay for every job in an organization, regardless of how well the job is being performed? Justify your position. Employers use pay scales to calculate salaries. The rate range for a job grade consists of a minimum, midpoint, and maximum rate of pay unrelatedly to how well a job is performed. Many employers use a system job evaluation tool to rank jobs based on skill, education, experience, and duties to assess the job description. There should be a maximum rate of pay, which should be based on the individual’s job performance. The starting rate and maximum rates should be the same for all employees in the same position but, their individual rates may be different depending on their performance. However, once an employee has reached the maximum rate of pay for the position the employee should not receive any more pay raises. A job should have its maximum pay rate depending on many factors. In most cases jobs that do not require high level of education are the jobs that do not lead to a life long career. In this case, there is a limit of value that a receptionist like Beth could bring to the company. It wouldn’t make much financial sense to pay a receptionist equal to an operations manager. Even in this example where the receptionist has elevated value due to her interpersonal skills, ultimately she does not provide attainable financial betterment to the company outside of her job description. Therefore, the employee should be paid based on their quantified value as an asset to the company; and a job should have a maximum rate of pay.

Big Data Assignment Example | Topics and Well Written Essays - 750 words

Big Data - Assignment Example es, coupled with consumer loyalty data, gave the retailers unique overviews on product sales, customer buying patterns and overall market trends previously were available to any player in the consumer package goods to retail value chain. According to Liebowitz (2013), all these would have been fine except that in the late 1990s, the development of WWW, on top of the internet was making huge amounts of information readily available and these data sources literally changes the business models of many companies. Today, we are yet in another revolutionized experience of data driven businesses as new sources of data from avenues such as social media, mobile, sensor or machine generated data hold the potential to rewire an organization’s value creation process. Social media data provide insights into customer interests, passions, affiliations and associations and as well is being used for the advertising purposes due to the large audience it attracts. Such data can be used to optimize the customer engagement processes such as customer acquisition, activation, maturation, up-sell/cross-sell, retention through advocacy and development; other data sources provide real time data feeds at the most granular level of detail that enable predictive maintenance, product performance recommendations, and network optimization. Mobile devices on the other hand enable reallocation-based insights and drive real time consumer engagement that allow brick-and-mortar retailers to compete directly with onli ne retailers in providing an improved ,more engaging customer shopping experience, (Simon, & John Wiley & Sons, 2013). The massive volumes that amount up to terabytes and petabytes of data that include diversity and complexity of the data are straining the capabilities of existing technology stacks can be attributed to the less evolution of information technology adoption in businesses. Traditional data warehouse and business intelligence architectures were not designed to handle

Navy Insurance Essay Example | Topics and Well Written Essays - 500 words

Navy Insurance - Essay Example The recent rise in costs of operating marine trade and business through losses suffered through piracy has necessitated players in the industry of marine business to invest in the piracy insurance policies. According to UNCLOS (United Nations Convention on the law of the Sea), piracy is a multifaceted issue and takes cognition of all illegal act of detention violence as well as depredation that is directed towards ship or persons, or even cargo on board of the ship on the high seas. With the rise in piracy risks in the high seas, the emerging trend has been the insurance brokers offering marine insurance against piracy at very high premiums as compared to other risk premiums in the 21st century marine business. In particular, the premiums on offer depend on the routes of voyage, as the insurers are aware of the most affected regions by piracy such as the east African shores especially within the shoreline of Somali. Besides, the international community has invested notably in deployi ng military personnel to aid in restoring normalcy in the areas facing such challenges of piracy activity though this has had little effect in influencing the premiums concerning insurance against piracy. Nevertheless, an emerging trend reveals efforts by insurance companies to fund operations by specialized naval ships, which are specially designed and made to have the necessary equipments as well as machinery that would be used to escort cargo ships across the piracy risk prone areas at relatively minimal costs.