The Principles Of Unilever Ceo Paul Polman - 2170 Words

Dove was launched in the market by Unilever in 1957. With a vision to motivate the people to feel good and look good, it aimed to help women to become confident about their skin and appearance. Their basic aim is to get more out of life with brands and services that are actually good for them and also for others. They intend to bring the international expertise to the reach of people belonging to different cultures and backgrounds. It also wants its products to be affordable by all kinds of customers. â€Å"Our purpose is to make sustainable living commonplace. We work to create a better future every day, with brands and services that help people feel good, look good, and get more out of life.† We cannot close our eyes to the challenges that the world faces. Business must make an explicit and positive contribution to addressing them. I’m convinced we can create a more equitable and sustainable world for all of us by doing so,† says Unilever CEO Paul Polman. The basic principles of Unilever are following ïÆ'Ëœ Healthier future by providing antiseptic and cholesterol free products ïÆ'Ëœ More confident future by providing quality beauty products for men and women ïÆ'Ëœ Better future for children by providing oral care brands and nutritional products ïÆ'Ëœ Creating a planet and environment friendly future by initiating Cleaner Planet Plan through laundry plans and forest management products in Africa ïÆ'Ëœ Better future for farmers by utilizing raw materials from agriculture and forestry. 2.Show MoreRelatedCorporate Social Responsibility Of Unilever And Procter Gamble Essay1022 Words   |  5 PagesUnilever and Proctor Gamble have some similarities in their approaches to corporate social responsibility, but they implement their ideas in different ways. Unilever and Procter Gamble are both committed to reducing greenhouse gases and water usage, not only for their companies as well as their customers. Unilever’s CEO Paul Polman announced his â€Å"Compass Vision† shortly after acquiring his current position. The vision aimed to double the size of Unilever’s business while reducing their environmentalRead MoreUnilever: Leadership Knows No Boundaries1409 Words   |  6 PagesUnilever: Leadership Knows No Boundaries Leadership is a complex subject that has been defined by numerous experts and theorists in nearly every industry around the world. There are as many definitions for leadership as there are companies that profess to be focused on leading their firms effectively. But merely talking about leadership and its application to the business world is no match for the application of leadership principles used to guide a firm’s decision-making and strategy. AccordingRead MoreEthical Policies Vs. Corporate Social Responsibilities1238 Words   |  5 Pagesis to make profits and there can be either positive or negative Impact by the company on operation of business. Simply business ethics is the behavior of the business in accordance with the society or community [1]. Unilever Company Code of Practice Paul Polman (CEO) of Unilever Company reported that its business earned reputation based on integrity and interests in accordance with people, employees and brands. By investing for growth and making good balance over short term and long-term interestsRead MoreUnilever And Proctor And Gamble1568 Words   |  7 Pages Unilever Individual Case – Adam Vrablec 1. In recent years, Unilever and Proctor Gamble have both taken major steps in creating a more sustainable future. They have done so through launching major corporate responsibility initiatives with the hopes of becoming more energy efficient while simultaneously increasing global quality of life. Obviously, this is no easy task and it requires reconstruction of every part of their respective companies, not just exclusive to manufacturing and distributionRead MoreUnilever Essay1120 Words   |  5 PagesDATE: Karl Schmidt Jared Sessum Sustainable Tea at Unilever, Harvard Business School January 29, 2013 This memorandum addresses the following questions based on information found in the Harvard Business School case study on Unilever: Why did Unilever commit to sustainably source 100% of its tea? Has Rainforest Alliance certification been success for Unilever –why or why not? What should Unilever do with its tea business in India? Why has Unilever committed to sustainably source 100% of its agriculturalRead MoreUnilever Strategy and Strategic Decision-making Process 2955 Words   |  12 PagesThe case looks at prescriptive strategy as applied to multi-product group of companies. Unilever is based in over a hundred countries where multiple products are being made in each. However, the market is mature which means that growth is stagnant and innovation is almost non-existent. In order to improve on growth and sales, the strategies that are needed look at how to come up with new products that have high profit margins and penetrate new markets. The prescriptive approach was used to come withRead MoreManagement3082 Words   |  13 Pagesboard of directors in McDonald  : Andrew J. McKenna, Susan E. Arnold, Ro bert A. Eckert, Enrique Hernandez and Jr. Jeanne P. Jackson. Top Managers  after the board of director. The top managers which is composed of the chief executive officer (CEO), chief operating officer (COO), chief financial officer (CFO), chief information officer (CIO), president and vice president. Top managers are responsible to be a good planner as they have to make decisions that will affect the entirety of the corporationRead MoreCase Study on Unilever’s Path to Growth Strategy: Is It Working?2447 Words   |  10 PagesI. Current Situation A. Current Performance: Unilever is a world renowned company, which was created in 1930 through the merger of margarine Unie, a Dutch margarine company and British-based Lever Bothers, soap and detergent company. Unilever had 1600 brands and sales marketing efforts in 88 countries all over the world. The main target were to get top-line sales growth of 5-6 percent annually and to increase operating profit margin from 11 percent to over 16 percent both to beRead MoreUniliver Case Study for Financial Management2670 Words   |  11 Pages6/27/12 IBS Case Studies IBS Mumbai Date: 27/06/2012 Time: 20:46:19 FM0001 IBS Case Development Center Unilever Limited: Transforming the Finance ‘Function’ This case study was written by Parveen Sultana and Fathima Reshma Taj H, under the direction of Saradhi Kumar Gonela, IBS, Hyderabad. It is intended to be used as the basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. The case was compiled from published sources. LicenseRead MoreCase Study on Unilever’s Path to Growth Strategy: Is It Working?2462 Words   |  10 PagesI. Current Situation A. Current Performance: Unilever is a world renowned company, which was created in 1930 through the merger of margarine Unie, a Dutch margarine company and British-based Lever Bothers, soap and detergent company. Unilever had 1600 brands and sales marketing efforts in 88 countries all over the world. The main target were to get top-line sales growth of 5-6 percent annually and to increase operating profit margin from 11 percent to over 16 percent both to be accomplished

Product and Brand Management Free Essays

?AFFECT OF BRANDING ON CONSUMER PURCHASE DECISION IN FMCG GOODS AND DURABLE GOODS? INTRODUCTION What is a BRAND? Brand recognition and other reactions are created by the use of the product or service and through the influence of advertising, design, and media commentary. A brand is a symbolic embodiment of all the information connected to the product and serves to create associations and expectations around it. A brand often includes a logo, fonts, color schemes, symbols, and sound, which may be developed to represent implicit values, ideas, and even personality. We will write a custom essay sample on Product and Brand Management or any similar topic only for you Order Now Concepts Marketers engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand image may be developed by attributing a â€Å"personality† to or associating an â€Å"image† with a product or service, whereby the personality or image is â€Å"branded† into the consciousness of consumers. A brand is therefore one of the most valuable elements in an advertising theme. The art of creating and maintaining a brand is called brand management. A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. One goal in brand recognition is the identification of a brand without the name of the company present. For example, Disney has been successful at branding with their particular script font (originally created for Walt Disney’s â€Å"signature† logo) which it used in the logo for go. om. â€Å"DNA† refers to the unique attributes, essence, purpose, or profile of a brand and, therefore, a company. The term is borrowed from the biological DNA, the molecular â€Å"blueprint† or genetic profile of an organism which determines its unique characteristics. Brand equity measures the total value of the brand to the brand owner, and reflects the extent of brand franchise. The term brand name is often used interchangeably with â€Å"brand†, although it is more correctly used to specifically denote written or spoken linguistic elements of a brand. In this context a â€Å"brand name† constitutes a type of trademark, if the brand name exclusively identifies the brand owner as the commercial source of products or services. A brand owner may seek to protect proprietary rights in relation to a brand name through trademark registration. Brand energy is a concept that links together the ideas that the brand is experiential; that it is not just about the experiences of customers/potential customers but all stakeholders; and that businesses are essentially more about creating value through creating meaningful experiences than generating profit. Economic value comes from businesses ¶ transactions between people whether they be customers, employees, suppliers or other stakeholders. For such value to be created people first have to have positive associations with the business and/or its products and services and be energised to behave positively towards them  ± hence brand energy. It has been defined as â€Å"The energy that flows throughout the system that links businesses and all their stakeholders and which is manifested in the way these stakeholders think, feel and behave towards the business and its products or services. Attitude branding is the choice to represent a feeling, which is not necessarily connected with the product or consumption of the product at all. Marketing labeled as attitude branding includes that of Nike, Starbucks, The Body Shop, Safeway, and Apple Inc. â€Å"A great brand raises the bar — it adds a greater sense of purpose to the experience, whether it’s the challenge to do your b est in sports and fitness, or the affirmation that the cup of coffee you’re drinking really matters. † – Howard Schultz (CEO, Starbucks Corp. ) The act of associating a product or service with a brand has become part of pop culture. Most products have some kind of brand identity, from common table salt to designer clothes. In non-commercial contexts, the marketing of entities which supply ideas or promises rather than product and services (e. g. political parties or religious organizations) may also be known as â€Å"branding†. OBJECTIVE OF PROJECT WORK Main Objective:The main objective of research is to analysis how the brand effects the customer purchasing decision in FMCG goods and durable goods Sub Objective:The sub objective of research is to understand the choice of the customer is branded or nonbranded goods. JUSTIFICATION FOR CHOOSING A PARTICULAR RESEARCH PROPOSAL Branding can be viewed as a tool to position a product or a service with a consistent image of quality and value for money to ensure the development of a recurring preference by the customer. It is common knowledge that the consumer ¶s choice is influenced by many surrogat es of which the simplest one is a brand name. Although there may be equally satisfying products, the consumer when satisfied with some brand does not want to spend additional effort to evaluate the other alternative choices. Once he or she has liked a part icular brand, he or she tends to stay with it, unless there is a steep rise in the price or a discernible better quality product comes to his/her knowledge, which prompts the consumer to switch the brand. Companies spend a lot of money and time on the branding and thus it needs a careful evaluation on the effect of branding on consumer buying behavior. QUESTIONNAIRE 1. Are you a brand loyal customer? ` Yes ` No 2. Which attributes did attract you to purchase branded products? Rank these attributes in order of their importance to you. ` ` Brand Name Price Easy Availability ` ` Transparent Cleanliness ` Others 3. What was the reason for the delay between the purchase decision and the actual purchase? ` ` ` Financial constraints Waiting for more innovative product Waiting for market response 4. What influenced you to buy the above stated brand(s) ? ` ` ` ` Advertising Word of mouth Attractive packaging Dealer ` Shop Display ` Family/Friend/Relatives ` Any Other 5. Influence of Brand name on purchasing decision ` ` Agree Strongly Agree ` Disagree ` Strongly disagree 6. Influence of Quality on Purchase Decision ` ` Agree Strongly Agree ` Disagree ` Strongly disagree 7. Influence of Price on Purchase Decision ` Agree ` Strongly Agree ` Disagree ` Strongly disagree 8. Influence of Product features on Purchase Decision ` ` Agree Strongly Agree ` Disagree ` Strongly disagree 9. Influence of Family members on Purchase Decision ` ` Agree Strongly Agree ` Disagree ` Strongly disagree 10. Influence of Peer group on Purchase Decision ` ` Agree Strongly Agree ` Disagree ` Strongly disagree 11. Influence of Advertisement on Purchase Decision ` Agree Strongly Agree ` Disagree ` Strongly disagree 12. Will you like to switch your brand preference if you get some promotional scheme with another brand? ` Yes ` No 13. Do you think branded products are better than unbranded products? ` Yes ` No NAME OF THE RESPONDENT: ADDRESS: EDUCATIONAL QUALITICATION: OCCUPATION: AGE: MONTHLY INCOME: 1. 100% Financial Inclusion: A Challenging Task Ahead 2. Afforestation of ARID Was telands Through Energy Plantations: A Case Study from India 3. Agribusiness Sector in Rural India and Increasing Opportunities of E -Commerce 4. Asset prices and inflation is there a predictive link 5. Back Water Tourism in Kerala: Challenges and Opportunities 6. Banking Channel Perceptions An Indian Youth perspective 7. Banking on Themselves 8. Behavioral Skills Trainings in Travel Agencies 9. Brand awareness and preference in rural markets 10. Branding for 21st Century Teenagers 11. Branding India for Health and Spiritual Tourism 12. Branding India: Strategic Challenges and Possible Approaches 2. subliminal messages in advertising and how they affect consumers. How to cite Product and Brand Management, Papers

Alma Mater free essay sample

In an interview with Car Mueller, a 2013 senior attending the University of Illinois took great pride in her Alma Mater. To me the Alma Mater is a cool piece of history. Love being a part of something so much egger than my time here at the University of Illinois. When asked if she had any prior knowledge to the Alma Matter she shared, That my older brother went to the University of Illinois. So every time we came to see him we would always walk past the Alma Mater. Its a University landmark that cannot be missed while either touring or walking around campus. Continuing on with Cars interview she also stated that she often took pictures in front of it, especially when it was dressed up for special events, like when the Illinois basketball team made it to the March Madness tournament, they dressed her n an oversized basketball outfit. We will write a custom essay sample on Alma Mater or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page But from Cars interview it also turned her upside down with the leaving of her Alma Mater. Even the pride that students have shown to the Alma Mater goes way beyond a statue.In late August of 201 2, the Alma Mater packed her bags for the year to get primed and prospered for the fallowing spring. Many students do not understand how someone could take the schools pride and joy away. However, it makes visitors of the university question why there is only a platform with nothing On top Of it! With the Alma Mater gone it doesnt mean its the end. To Car Mueller, she thinks its upsetting to see that she is gone. Its like a part of the University of Illinois has been missing all year. From this Car reflected on her being a senior, As a senior I felt like got the shafted. Every year, like previously stated, many seniors wait in lines to take a final picture of them with the Alma Mater. As the year dwindles down to a close, Car anxiously awaits the arrival of the Alma Mater; It would be nice to get the traditional graduation pictures with my family next to the Alma Mater like many graduates do each year. Throughout the years of students coming and going, the Alma Mater is always going to be one steady symbol of school pride.Even to this day students are always being welcomed by this well-know figure. From one motto, a statue can shape the ideas of how a university shapes its values. Imagine if the Alma Mater was never created? What would have taken her place, a dog or maybe a different statue? As the years go on, however, it could be possible that a bigger and better figure might emerge, but even when we may leave her sight we will always be reminded that she will always be waiting for us to return.

30 Idioms About Common Shapes

30 Idioms About Common Shapes 30 Idioms About Common Shapes 30 Idioms About Common Shapes By Mark Nichol Figurative references to circles, squares, and triangles turn up in a variety of familiar expressions. Here’s a list of many of those idioms and their meanings. 1. To be a square peg in a round hole is to be someone who doesn’t fit in a particular environment, or in certain circumstances. 2. To go back to square one is to start over again because of a setback or an impasse. 3. The expression â€Å"Be there, or be square† alludes to often-lighthearted pressure to attend an event or suffer the consequences of being considered conventional and uninteresting. 4–6. To call something square, square something with someone, or square accounts is to agree with another party that neither party owes anything to the other one. 7. To circle around is to move in a circular motion to engage in reconnaissance or to figuratively evaluate a situation. 8. A circular argument is one in which the proposition is assumed to be true. 9. To come (or go) full circle is to figuratively return to one’s starting point. 10. Someone who could fight a circle saw is so tough that the thought of sparring with a deadly power tool does not faze him or her. 11. To say that something doesn’t cut any squares with one means that one refuses to be influenced. 12. To be fair and square is to treat everyone impartially. 13. To look someone square in the eye is to do so directly, indicating honesty. 14. A love, or eternal, triangle is a circumstance in which two people are in love with the same person. 15. To move in the same circles with someone is to have similar tastes and frequent the same locations. 16. Something on the square is done fairly, honestly, and openly. 17. To be out of square is to not be in agreement. 18. To run circles around (or run rings around) someone is to figuratively outcompete him or her to the extent that the other person seems to be standing still. 19. To run around in circles is to figuratively expend much effort with little result because of poor organization or planning. 20. A square answer is an honest one. 21. To square away is to rectify or put in order. 22. A square deal is a fair deal. 23. A square meal is a complete, nutritious set of food servings. â€Å"Three square meals† (often abbreviated to â€Å"three squares†) refers to the traditional daily schedule of breakfast, lunch, and dinner (or supper). 24. To square off is to prepare to fight or compete. 25. To square up is to settle or reconcile. It also means to confront someone or something courageously. 26. To square one’s shoulders is to literally straighten one’s shoulders before undertaking a difficult task or to figuratively prepare oneself for an effort. 27. To attempt to square the circle is to try to do the impossible. 28. To square something with someone means to obtain approval or permission 29. To speak or talk in circles is to discuss an issue or problem repetitively with no progress. 30. A vicious circle (or vicious cycle) is one in which solutions create new problems. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:English Grammar 101: Verb MoodPersonification vs. Anthropomorphism

Peer Pressure Essays

Peer Pressure Essays Peer Pressure Essay Peer Pressure Essay HOW CAN PEER PRESSURE IMPACT NEGATIVELY ON TEENAGERS? Candidates Name: Kadian Chambers Candidates Form: 11:3 Candidates School: Excelsior High Teacher’s Name: Mrs. Smith TABLE OF CONTENTS INTRODUCTION STATEMENT OF PROBLEM REASONS FOR SELECTING TOPIC METHOD OF INVESTIGATION INSTRUMENT USED TO COLLECT DATA PROCEDURES FOR DATA COLLECTION PRESENTATION OF DATA ANALYSIS AND INTERPRETATION OF DATA FINDINGS RECOMMENDATIONS BIB LIOGRAPHY INTRODUCTION I have been a student of the Excelsior High School for four (4) to five (5) years now and I have noticed that teachers and parents are complaining about there child(ren) academic performances are being decreased due to peer pressure. This School Based Assignment consists of one of the many issues that is occurring within the Excelsior High School. Along with how its affecting students and a few suggestions on how this matter can be solved. STATEMENT OF PROBLEM How does peer pressure affects teenager’s academic performance? REASONS FOR SELECTING TOPIC The reason I selected this topic was because I have noticed that adolescence nowadays are under the influence of their peers. Not only that but there have been numerous occasions where parents and teachers are complaining that some adolescence academic performance level has decreased due to the high impact of their peer groups. METHOD OF INVESTIGATION In order to collect data from the survey, I have decided to use printed questionnaires. Questionnaires, as a tool of collecting data have a number of advantages: 1. It requires time to be completed. 2. It can be done at the confidence of the persons required to have it completed. 3. It guarantees total confidentiality since respondents are not allowed to attach their names. INSTRUMENTS USED TO COLLECT DATA Dear Students, This is a survey being carried out at the Excelsior High School to determine the amount of students that peer pressure affected negatively. Your advised to answer to the following questions truthfully. Since you do not write your name anywhere, no one would ever know that you were the one that had answered the questions. Please be reminded that this is not a test so there are no wrong or right answers . All persons who are answering the questions are required to tick the answer to their choice. Thank you, Yours truly, QUESTIONNAIRE 1. Sex Male ( ) Female ( ) 2. Age 11-13 ( ) 14-16 ( ) 17-19 ( ) 20-22 ( ) 3. Family Background Single Parent ( ) Nuclear ( ) Extended ( ) Sibling ( ) 4. Are you apart of a peer group? Yes ( ) No ( ) 5. Do you consider your peer group to be of good or bad influence? Good ( ) Bad ( ) 6. Is your participation in a peer group affecting your academic performance? Yes ( ) No ( ) 7. What are some of the causes of peer pressure? Family ( ) Friends ( ) Financial Needs ( ) Others 8. Are your teachers or parents complaining about the peers you socialize with? Yes ( ) No ( ) 9. Does your peers, pressure you to do negative? Stealing ( ) Fighting ( ) Lying ( ) Fornicate ( ) 0. Was it your decision to become apart of a peer group? Why? 11. When you meet with your peers, what are some of the major discussions? 12. What are some of the influences being faced because of peer pressure? Smoking ( ) Alcohol ( ) Sex ( ) All of the above ( ) 13. Would you suggest that teenagers are to be apart of a peer group? Yes ( ) No ( ) 14. If the answer to question 13 is ‘yes’, why did you suggest this? It’s good for them to socialize ( ) It will have a positive impact on them ( ) Other 15. How does peer pressure affects your self esteem? Does it let you feel unwanted ( ) Do you feel unattractive ( ) Are you doubtful ( ) Other PROCEDURES FOR DATA COLLECTION A total of 20 questionnaires were prepared and was distributed to the students of the Excelsior High School. It was expected that at least 16 of these would return. In order to investigate how students academic performances are being decreased due to peer pressure, I have chosen random sampling. I have chosen random sampling because these samples were available at the time when the questionnaires were distributed. PRESENTATION OF DATA A total number of 20 questionnaires were distributed to the students of the Excelsior High School. Out of the 20, 20 were returned. Of these 20, 10 were males and 10 were females. RECOMMENDATIONS After carefully analyzing the findings of the research, my recommendations are as follows: * The school board could host a program that educates the students about the negative and positive impacts of peer groups. * Students could visit the guidance counselor on a regular base to be more informed and aware about the different types of peer groups. Parents could monitor their children by getting to know the type of friends they keep and checking their books more regularly to see how they are performing at school. BIBLIOGRAPHY * CXC: New Edition: Social Studies Essentials * kentcrockett. blogspot. com * www. notesmaster. com ANALYSIS AND INTERPRETATION OF DATA CHART 1: LINE GRAPH SHOWING THE PERCENTAGES OF INFLUENCES FACED BY STUDENTS BECAUSE OF PEER PRESSURE In chart 1, 50% of the respondents indicate that they are being pressured to have sex, 5% said smoking, 35% said alcohol, while the remaining 10% admit o doing all of the above. CHART 2: BAR GRAPH SHOWING THE PERCENTAGES OF RESPONDENTS INDICATING THAT THEIR PARENTS OR TEACHERS ARE COMPLAINING ABOUT THE PEER GROUPS THEY SOCIALIZE WITH In chart 2, 75% of the respondents stated that their parents or teachers complained about the group they socialize with and the remaining 25% stated no. TABLE 1: SHOWING THE PERCENTAGES OF RESPONDENTS THAT STATED THAT THEY ARE BEING PRESSURED BY THEIR PEERS TO DO NEGATIVE Negative | No. of students| Percentages | Stealing| 4| 20%| Fighting| 4| 20%| Lying| 5| 25%| Fornicate| 7| 35%| Total | 20| 100%| Within the school, 20% or 4 of the respondents stated that they are being pressured by their peers to steal, 20% or 4 stated for fighting, 25% or 5 for lying and the remaining 35% or 7 stated they fornicated. INTERPRETATION OF DATA Within Excelsior High School, the male to female ratio stands at 10:10, with 10 males and 10 females answering the questionnaires. These persons fell between the ages of 14-16 years, which accounted for 40% of the respondents. 25% of the respondents within the school stated that their parents or teachers did complain about the peer groups they socialized with. This was evident in 10% that admit to doing all of the above faced because of the influences per pressure. The 20% of respondents that stated that they are pressured to do negative (such as fighting) by their peer groups coincides with the 5% that stated they are smoking. FINDINGS The research revealed that: * That students within the Excelsior High School are being affected because of the peer groups they are in. * That teachers or parents are complaining about the type of peer group they are socializing with. * That being in peer groups has a high impact on teenagers.

What Is Meant By Market Failure And How Can Government Attempt To Essay

What Is Meant By Market Failure And How Can Government Attempt To Correct It - Essay Example In economics, a market failure takes place when â€Å"the production or use of goods and services by the market is not efficient†. In other words, market failure occurs when free market fail to provide optimum allotment of resources, either over-allocating, or under-allocating their resources, which results in economic inefficiency In other words, market failure occurs when free market fail to provide optimum allotment of resources, either over-allocating, or under-allocating their resources, which results in economic inefficiency (Francis, n.d). In such a case, there exists another possible outcome where the market participants’ gains would compensate their losses. Market failure is a serious issue as in consequence it disrupts social and economic region of a particular region or even the whole country. Thus, it is a challenge for governments to interfere and ensure that there is no risk of market failure. There are several ways in which governments can correct the sta te of markets: by public section production, regulations and antitrust legislation, taxation and subsidies (Francis, n.d). This paper discusses different kinds of market failure and the ways in which government can attempt to correct them. There are several general categories of market failure: market power, externalities, public goods, and equity. Market power is the ability of a company to influence the market price of a good or service, raising prices above competitive levels (Francis, n.d, ICT regulation toolkit, n.d). A company with market power can raise prices without losing a significant portion of its business to other companies. The rise in the prices above competitive levels may affect negatively the market as it results in diminished customer demand, efficiency loses, and harm on the public interest. Furthermore, companies with significant market power may abuse their power, using their leading position to reduce competition. Some common forms of anticompetitive conduct involve abuse of dominance, cross-subsidization, and misuse of information (Market Power, n.d). There are several ways in which governments can deal with abuse of significant market power. To start with, all national regulatory authorities (NRA) have to make an assessment of the state of completion in specific markets and consider whether such competitive behavior harms another companies and customers (European Regulators Group, 2007). In such a case, the dominant company may be required to stop its abusive behavior or make specific changes to its policy so that it would not be damaging to competition anymore (Remedies for Abuse of Dominance, n.d). This remedy requires the authorities to monitor the company continuously to guarantee that the behavioral change is maintained. Another possible solution is fining the company or its employers with direct responsibility for anticompetitive behavior. The firm can also be ordered to pay compensation to its customers and competitors who have been harmed by their policies. The European Regulators Group (2007) proposes functional separation in markets where non-discrimination procedures were ineffective in dealing with problems of abusive market power. Functional separation may involve breaking the company into two different firms with separate market shares, or separating competitive and monopoly products and services of the company. This solution may also include such elements as separation of operational support systems, brands, employees, and information management systems among new, individual business units. When deciding on the degree of the separation proposed, the NRA’s have to take into account the cost and benefits of this solution and base their decision on completed market reviews (The European Regulators Group, 2007). Cross-subsidization occurs when companies with market power charge a high price for their non-competitive products services and use different proceeds to subsidize low prices for compet itive goods. In such a case, governments can implement and enforce a price floor for the low-cost products in order to ensure that the revenue that is generated by the product

The Doctrine Of Insurable Interest Essay Example | Topics and Well Written Essays - 4000 words

The Doctrine Of Insurable Interest - Essay Example The earliest references to insurable interest simply emphasised this characteristic of insurance. Since the insurer's contractual undertaking was to indemnify the insured for patrimonial loss, the latter had to prove that he had a financial interest upon the happening of the insured event because there could be no loss without an interest. In this very respect insurance was considered to differ from a wager because wagers did not contain an indemnity clause. The English common law was much to the same effect until 1774 when the Life Assurance Act3 was adopted. This Act introduced some important changes. South Africa inherited the English doctrine of insurable interest. This was brought about by certain colonial legislation4 which adopted English insurance law in the then Cape Colony and the Orange Free State. For this reason English law must be considered. In the recent case of Feasey v Sun Life Insurance Corp of Canada the Court confirmed that the interest necessary for life assurance must sound in money. At the same time it acknowledged the differences between indemnity and non-indemnity insurance. Special emphasis is put on the question of precisely what interest the parties intended to insure. It is clear that English law has not made much progre... It has even been suggested that insurable interest in life assurance in many respects is clearly out of touch with reality and that reform is necessary. Some important aspects of the English rules on insurable interest have indeed become firmly entrenched by trade usage and no turn-around seems possible, e.g. the rule that a person may insure his or her own life and that of his or her spouse for any amount he or she deems appropriate. On the other hand, some important matters must after the repeal of the provincial ordinances be considered as being open. Thus the question may be asked whether the existence of an actual insurable interest at the time of contracting is a separate requirement in law for the validity of a true contract of insurance. May a future interest for instance be insured on condition that the interest materialises before occurrence of the insured event (http://www.ombud.co.za/res/pdf/INSURABLE%20INTEREST%20IN%20THE%20CONTEXT%20OF%20LONG.pdf) Here there are in effect two questions. The issue raised most commonly is whether the definition of insurable interest is too narrow. Should unmarried cohabitants not be able to insure each other's life even in the absence of financial dependency Should the requirement of a proprietary interest be retained The more fundamental issue is whether it is obligatory to keep hold of the doctrine of insurable interest at all. In United Kingdom it seems to have been eliminated for definite types of business.1 The problem will have to be measured in the light of apprehensions about moral risks and, at a lawful level, the probable result of the Gambling Act 2005, which makes gambling contracts enforceable. Although the 2005 Act has not