Thursday, January 16, 2020

Indian Luxury Consumer Essay

The Indian Luxury Consumer: Rapidly maturing and looking for more Any study of the luxury market needs to conclusively address core questions around the luxury customer – Who, What and Where. To fully understand answers to these questions, we interviewed existing and prospective customers across various locations, income and age groups. We also interviewed industry leaders across all luxury categories on the Indian consumer and the changes that they have observed over the last few years. In this section, we shall provide answers to three basic questions: 1. What constitutes luxury in India? 2. Who is the luxury consumer? What has changed in the last 2-3 years? 3. How is the behavior of the luxury consumer changing? 4. What are their specific tastes and preferences? 5. Where do they make their purchase? Luxury in India – more aspirational luxury than ultimate luxury Industry leaders across categories believe that luxury is not only determined by price. Exclusivity is a far more important parameter for a product or service to be called luxury. As such customization, uniqueness, and even understatement is important. Design, use of exquisite materials, presentation and personalized service all contribute to luxury. Consumers also talk about exclusivity, uniqueness and appeal to personal taste. This is not as yet corroborated by increased sales of â€Å"ultimate and subtle† luxury products. The majority of the market is still far away from this definition and brand/logo/badge value drive luxury purchases very clearly. Size, flashiness, clearly visible logos, well known brand are the key considerations in the purchase. That said, traditional attributes such as high quality, heritage, longevity, the â€Å"stories† associated with brands are beginning to emerge as drivers of purchase. Bulk of the Indian market is still dominated by the more accessible and aspirational luxury products. Status – announcing your arrival into the elite segment of the society – is the biggest motivation still. The mindset is still that of an â€Å"aspirer† not that of a â€Å"connoisseur†. The Indian luxury consumer – new insights The Indian luxury consumer has been studied a few times now. Various segments have been identiofied by earlier studies. The old money/new money/gold cuffs/.. (Luxury Brands) and Industrialist/Corporate/Professional/ (Economic Times – A. T. Kearney India Luxury Review 2007). The focus of our consumer research was to find out how the consumer has evolved in the last 3-4 years. The accepted wisdom is that industrialists and traditionally wealthy families is the largest segment, senior corporate executives are a smaller but emerging segment and young professionals are entering the market. Our research has shown that by and large the consumer segments that constitute the bulk of the market have not changed significantly, although finer sub-segments are now more apparent: Medium size enterprise owners: This is the largest segment in terms of number – these are typically the medium enterprise owners – industrialists and traders who run businesses with revenues upwards of 50 cr. The source of their spending is the surpluses generated by the business. Many of these have grown as the economy grew rapidly in the last twenty years. Their wealth is their passport to the elite segment of the society and conspicuous consumption is their way of announcing it to the society. The children who tend to be second or third generation are the bigger spenders, having been educated abroad and hence familiar with brands and the luxury way of living. They are now educating and enticing their more conservative elder generation into spending. Interviews also reveal that those who generate cash need to necessarily spend it and luxury goods are a good avenue for spending. These are very frequent luxury consumers and consume the entire gamut of products and services and some assets like cars and real estate. These consumers shop around for deals and bargains, including international travel. Traditionally wealthy families / large industrialists: This group comprises two sub-segments – the first is the traditionally wealthy families – who have been consuming luxury for several decades and go for the finer things in life. The largest business houses in the country and historically wealthy Marwari, Gujarati, Parsi, Punjabi families epitomize this class. The other sub segment comprises the promoters of some very large businesses which have come up in the last two decades and have created disproportionate wealth very quickly. Builders, miners, diamond merchants, stock brokers, new age enterprise owners fall in this category. Many of them have migrated to the highest ladder of luxury consumption very quickly by acquiring yachts, jets, houses and really expensive cars. Corporate executives: Senior executives of corporate India who are paid in excess of Rs. 1 crore and bankers who earn big bonuses epitomize this category. These executives are well traveled and are aware of brands. Most of these are in their mid-late forties and represent some of the brightest minds in the country. Many of them though have come from middle class backgrounds and hence have a conservative approach on conspicuous spending. While they can well afford to spend, their propensity to spend is low. A gradual change is being seen as they see more and more of their compatriots spend. These consumers spend on some luxury products such as watches, accessories, select apparel, fine dining, international and domestic travel and high end cars. They also tend to shop on their frequent international trips to get the best deals. Self employed professionals: These comprise of professionals such as lawyers, doctors and architects: A small but niche segment, comprising the top stars in their profession, who have made it big. While many of these come from middle class backgrounds, they use their new found wealth to live a good life. They shop for the entire range of products and services although are found less often at the absolute top end of the ladder. Young professionals: Working in service industries – these earn the least compared to the others, but since they don’t have family responsibilities, the disposable part of the income is high. They are in tune with the latest fashion trends, travel abroad once in a while and believe in spending on what they fancy. They tend to consume entry level products and are infrequent consumers. Other segments: Expatriates: Expatriates in the country are growing and they are staying for longer periods: These are on expatriate packages and are accustomed to luxury consumption in other parts of the world. However most of these fly back very frequently and stack up on their luxury products need on these trips. Luxury services and assets (mostly cars) are influenced in a small way by this segment. The segment is definitely driving the increasing awareness and need for luxury products Politicians and bureaucrats: Interviews reveal that politicians and bureaucrats are a large segment for all luxury products, but have a much more pronounced preference for jewellery, watches, cars and real estate. Contrary to the popular perception that is generated by the flashy lifestyles of film and television actors, they are not large spenders by themselves and collectively it is still not a large segment. Luxury consumption of film and TV stars is paid for by the producers. They alsoi shop abroad a lot. Many celebrities belong to rich business families and owe their luxury consumption to their family wealth or get a lot of luxury products as gifts. Citywise sub-segments: There are sub-segments in each city that drive most of the purchases: * Mumbai – stock brokers, diamond merchants/exporters * Delhi – industrialists, traditionally wealthy, politicians, bureaucrats * Chennai – traditionally rich, industrialists * Bangalore – builders, IT top brass * Kolkata – traditionally wealthy Marwari businessmen, traders Age profile. The average consumer is still young – between 30-45. This is in line with the overall demographics and is expected to stay that way for some time. It is thus a young luxury market in contrast with some of the mature markets like Europe and the USA where the average consumer is much older (need some data here). Consumer Behavior We found that while the average Indian luxury customer values High Quality, Exclusivity and Social Appeal as key drivers of luxury purchase, they are also very Price Conscious and often straddled with a â€Å"middle-class mindset†. Corporate Professionals in particular tend to be more price sensitive than the Traditionally Wealthy and Business Owners. This is also due to the fact that the average â€Å"fashion consciousness† of Indian consumers is still quite low – most consumers prefer â€Å"well known† brands and make luxury purchases for â€Å"brand value† and not â€Å"fashion value†. The table below summarises the typical behavior patterns of the consumers in each of the segments | Medium Size Enterprise Owners| Traditionally Wealthy Families & Large Industrialists| Corporate Executives| Self Employed Professionals| Young Professionals| Average Age| | | | | |. Awareness| Low| High| High| Medium| High| Fashion consciousness ( apparel and accessories)| Low| High| Low| Low| High| Price Consciousness| High| Low| High| Very High| Very High| Badge Consciousness| High| Medium-Low| High| High| Very High| Propensity to buy overseas| High| High| High| High| High| Greater awareness – rapidly increasing and the entry of brands, development of malls and magazines has helped. Compared to three-four years ago, the number of people who can correctly pronounce Chanel and Gucci correctly has increased dramatically, although there is still a long way to go. What is interesting to note is that the Indian luxury customer is maturing rapidly and brand awareness has increased significantly over the past 3-5 years. Brands are beginning to see loyal customers who have their preferred set of brands. Among brands, the pedigree of a brand is very important. There is a heritage value with luxury brands – customer typically put more value on brands that have been around for many years. When it came to Indian brands, there is clearly a mixed perception. While most customers were willing to purchase luxury services from Indian players, the luxury products market still has a long way to go. Specifically in services, Indian service quality is considered to be at par with the best in the world. Within products, the categories that customer preferred have a high class value attached to it. Hence very select categories like jewellery and Indian designer apparel products are considered ‘luxury’. Fashion consciousness – changing very fast, dressing for a look increasing in the metros – still a long way to go – in the words of one of the luxury fashion CEOs – Indians are â€Å"sartorially challenged†. The younger members of the rich families and the young professionals are leading are leading the pack. Badge consciousness – continuing, no doubt. A logo is probably the most important thing about a product. It is easier to sell a pair of sunglasses or a polo shirt where the logo is clearly visible than a shirt where it is not so obvious. Price consciousness – here to stay. The entire industry acknowledges this and both the principals and the Indian parties strive hard to match prices to make it price neutral for the Indian consumer who would not mind taking a flight to Singapore or Dubai or ask someone to get it, if the difference is more than 3-5%. The economics is simple – its costs 15-20,000 for a return trip (economy of course! ) to Dubai or Singapore. On a product costing upwards of Rs. 200,000, this is less than 10% of the product price. That puts a limit on the amount of premium that anyone will be willing to pay for products that can be easily purchased overseas and carried back. The grey market will willingly carry products for a fraction of the cost of a return trip. The only exception is cars – where it is not possible to bring it in – either legitimately or smuggled. Propensity to buy overseas – reducing but still very significant. One interesting observation is that Indian luxury customers are not averse to buying from India, just that they feel there are better avenues abroad. One of the key challenges is to provide luxury shopping destinations that offer a variety of brands under one roof. While most of them purchased from boutiques in New York or Malls in Dubai, in India there are not many avenues for luxury purchase. While most consumers also make luxury purchases in India, shopping abroad is still by far the preferred option. Consumers have certain perceptions about luxury shopping in India, that have held them back making large scale and frequent purchases in the local market. Interviews with industry leaders reveals that the consumer wants the same package here – merchandise (range, freshness), convenience (location), price and experience (ambience, service) – with an extra expectation of service, given that this is India, where labor is cheap. The development of the Indian duty free has meant that Indians have an option of buying duty free products in India when they arrive rather than carting it all the way from popular shopping destinations overseas. Consumers still believe that the widest, most recent range is not available here and that prices are more expensive here, though at least two of these clearly are myths that need to be broken. In fashion, collections are designed for the whole world once, no one creates separate collections for India and old collections are not available. Width of range is a trade-off that has to be made depending on the depth of the market, so that is a possibility. Converting the overseas market is a big challenge for retailers. Propensity to buy from the grey market – by all accounts, this is reducing in established brands. Concerted efforts by players to bring in the latest merchandise, efforts by brands to supply products at lower prices to India and Indian retailers willing to work on thin margins has meant that the consumer now gets a good bargain. New brands which consumers want and are not available find their way through this channel. Driver of Luxury consumption: Number of HNIs, HNI Wealth or Household Income? It is generally accepted that luxury market size is positively correlated to household income (GDP/capita), the number of high networth individuals and/or their wealth. Discussions on luxury are never complete without a reference to these parameters. A correlation between the size of the luxury market, the GDP/capita, number of HNIs and HNI wealth over the years 2004-2009 shows that in terms of importance the number of high networth individuals is the most important driver, followed closely by GDP/capita and HNI wealth. Interviews with leading luxury brands in India points to the fact that family wealth is a very strong determinant of spending than household income. Consumer interviews with traditionally wealthy families indicates a very interesting pattern – they are habitual consumers of luxury and less price conscious. Some of the segments mentioned above would fall in the HNI category. However luxury consumption in India is not limited to only the HNIs. The masstige phenomenon can be observed very clearly in India. Luxury products in India are appealing to, and purchased by, middle-class consumers that do not fit the typical profile of an elite consumer segment. For these shoppers, luxury represents status and prestige, a place in society that they fit into as a result of their purchase of high-end products. This phenomenon is observed even in the large mature markets such as UK, where a large number of individual consumers buy very small volumes. Luxury goods companies develop products that re-enforce the â€Å"masstige† and drive volumes. As such it is very important to look at the other indicator of the market – the GDP/capita. In India given the fact that wealth is being created due to the rapid growth, growing household incomes are converting the middle class into emerging luxury consumers. As such there is a large segment (below the 1 cr income category) where while the wealth might be low, it is the incomes that are driving the consumption. Measured in PPP terms, 25 -100 lakhs in India is equal to $ XX-YY,000 of income in the US or EUR AA-BB,000 in Europe, which is definitely a luxury consumer. The above two factors combine to make the consumer spectrum in India very broad. Our research shows that sporadic/ infrequent luxury consumption for products and services begins when annual household income goes upwards of Rs. 20 lakhs, becomes frequent when annual household income crosses the Rs. 1 crore mark and becomes habitual when the wealth crosses the HNI milestone ($1 mn in liquid assets). For luxury assets, the markers are understandably much higher and even within assets, the ladder become quite steep as one goes higher. For example, consumer for private jets would be the top 200-400 richest families in the country – the billionaires, super rich families (the HNIs) – anywhere around 200-400 families – such as the private jets, yachts and the largest houses – earning anywhere upwards of 50 cr per annum or with family wealth in excess of 100 cr. The spectrum thus begins at rupee millionaires and goes all the way to real billionaires. While the small traditionally super wealthy families who know what absolute or real exclusive luxury means, and can be called connoisseurs, bulk of the incremental wealth generation in India has been the the handiwork of new age businessmen/industrialists – who were not so wealthy a couple of generations ago. As the â€Å"new money† matures, one can expect that the tastes and preferences will also evolve. | | Rupee Millionaires| Near Millionaires| Real Millionaires| Category| Household Income| 10-25 lakhs| 25 lakhs – 1 cr| 1-5 cr| 5 cr+| | Networth/Wealth| | | | |. Estimated number of households| 2,373,000| 1,292,000| 141,000| Typical Occupations| Service Industry professionals| Corporate Executives, Self Employed Professionals| Medium Enterprise OwnersTraditionally wealthyCompany CEOs, top bankers| Large IndustrialistsTraditionally wealthy| Luxury products| Low ticket value items such as leather accessories ties, cuff-links,Wines and spirits, personal care| Watches, some apparel, accessories| All| All| Luxury Services| Spas, Infrequent fine dining| Travel, frequent fine dining, hotels, spas| All| Luxury Assets| | | Cars, YachtsReal estate, Paintings| Private jets|. Geographical distribution of consumers Luxury consumption in the country has so far been concentrated in Delhi and Mumbai with Bangalore being a distant third. Brands have been thinking of expanding their footprint beyond these cities and have been wondering about where their next store should be opened. We now believe that the distribution of the rupee millionaires is a good indicator of the luxury consumer distribution in the country. We also believe that for luxury consumption to take off a minimum critical mass is needed in a city. While Delhi and Mumbai continue to be the mainstay markets for luxury consumption, there are several other cities with a large base of potential luxury consumers. A look at the figure below suggests that while Mumbai, Delhi and Bangalore are the top three cities, other cities also have significant potential for luxury consumption. Show a chart between the number of families (X-axis) and the growth 2006-2009 (Y-axis) and number of such households as the bubble size. Use the data below. Year| 2006-07| 2009-10| | Income Category| Annual income >Rs. 10,00,000/-| CAGR| Top 20 Cities ranked on the basis of Annual Market Size| Number of Households| Number of Households| | Delhi| 132,258 | 348,000| 38%| Mumbai| 98,164 | 347,000| 52%| Bangalore| 101,550 | 126,000| 7%| Thane| 69,658 | 137,000| 25%| Pune| 57,130 | 106,000| 23%| Chennai| 28,025 | 109,000| 57%| Ahmadabad| 45,224 | 91,000| 26%| Hyderabad| 26,670 | 69,000| 37%| Surat| 34,457 | 60,000| 20%| Coimbatore| 18,076 | 37,000| 27%| Salt Lake (Urban Areas in â€Å"North 24 Parganas† district)| 14,373 | 65,000| 65%| Kolkata| 15,790 | 94,000| 81%| Thiruvallur| 17,837 | 22,000| 7%| Lucknow| 20,654 | 29,000| 12%|. Jaipur| 27,011 | 21,000| -8%| Vadodara| 22,911 | 53,000| 32%| Nagpur| 23,637 | 46,000| 25%| Kancheepuram| 13,920 | 24,000| 20%| | 767,345 | 1,784,000 | 32%| Source: Indicus Analytics| | | | Extrapolating the growth rates seen in these cities, over the next 3 years implies that several new cities will become potential centres of luxury consumption. Kolkata, Chennai, Hyderabad, Pune, Vadodara are high potential destinations to watch out for. A quick comparison with China shows that there are atleast 20 cities/towns where luxury brands are present. Comparison between luxury stores in India and China. | LV| Burberry| Chanel| Hugo Boss| Beijing| 3| 2| 2| 9| Shanghai| 3| 2| 5| 5| Other Tier I| 6| 6| 0| 8| Tier II| 12| 10| 1| 22| Others| 11| 13| 0| 43| | LV| Burberry| Chanel| Hugo Boss| Mumbai| 2| 1| -| 1| Delhi| 2| 1| 1| 1| Bangalore| 1| 1| -| 1| Others| -| 1| -| -| We believe in the next 5-7 years, atleast 5-7 new towns will get added on the luxury map of India. We also believe that the potential in Delhi and Mumbai has not been fully exploited and that there exist a few more micro markets within these cities that need to be tapped. Pockets of wealth and good infrastructure could be the next big destinations. In Mumbai, South Mumbai, Central Mumbai, Bandra/Juhu, Powai and Thane are micro markets which are far enough from each other, have concentration of wealthy families and decent infrastructure. In Delhi, similar micro markets could be South Delhi, Gurgaon, Saket, †¦.. In summary, while the Indian luxury market is evolving, so is the luxury customer. Understanding the nuances of the customer is extremely critical to succeed in this dynamic industry.

Wednesday, January 8, 2020

Essay about William Shakespeares A Midsummer Nights Dream

William Shakespeares A Midsummer Nights Dream Shakespeare, in his A Midsummer Night’s Dream, uses his characters to cast a sense of derision over the use of the imagination. â€Å"The lunatic, the lover and the poet† are thrown together all on one line, and it is implied that the latter two are as crazy as the first. (Midsummer Night’s Dream, V.1.7) Despite this seeming scorn for plays and their ilk, Shakespeare is implementing a strong irony. Characters who scorn the imagination are no more than imaginings themselves – and, by this, Shakespeare is actually reinforcing a positive image of plays of the imagination. Theseus’s denial of imagination’s worth reads more as apophasis than as any true refutation. Even as he scorns the†¦show more content†¦Theseus, as an added level of irony, spends a fair amount of time voicing his disdain for the imagination, and for plays – and then, just after that, he chooses a play for the night’s entertainment. He disregards â€Å"some satire, keen and critical† in favor of Pyramus and Thisbe, in fact. (V.1.58) One would think that, as the representative of cool reason, Theseus would opt to listen to something less fanciful, but he belies his own position against the imagination and chooses an â€Å"airy nothing† instead. (V.1.17) It is in this direct contradiction that Shakespeare cinches the irony of Theseus. Even so, once he has chosen Pyramus and Thisbe, Theseus maintains his stand: â€Å"the best in this kind [plays] are but shadows.† (V.1.224) If this were true, and he believed it, why would he then choose a ‘shadow’ for entertainment? Why not choose something more ‘real,’ something that has more of an effect on the world? The simple answer is that plays themselves do affect the world. For even this ‘shadow,’ Pyramus and Thisbe, does in the end draw some emotion from its watchers – Theseus says â€Å"this passion, and the death of a dear friend, would go near to make a man look sad.† (V.1.303) Hippolyta furthers his sentiment, adding â€Å"Beshrew my heart but I pity the man.† (V.1.305) If the worst of plays can draw such emotion, then plays hold power indeed. In yet a further interpretation, Theseus may act as a sort of metaphor for theShow MoreRelatedWilliam Shakespeares A Midsummer Night’s Dream1973 Words   |  8 PagesWilliam Shakespeares A Midsummer Night’s Dream The focus of this discussion will be upon the language and performance possibilities of this extract from the Dream[1], following brief consideration of the manner in which the extract relates to the rest of the play in terms of plot development and the reflection of certain of the play’s themes. Performance aspects are considered alongside the distinctive features of the language, as it is suggested that the natureRead More William Shakespeares A Midsummer Nights Dream Essay935 Words   |  4 PagesWilliam Shakespeares A Midsummer Nights Dream A Midsummer Night’s Dream could have easily been a light-hearted, whimsical comedy. Complete with a magic forest and a kingdom of fairies, it is an iconic setting for amorous escapades and scenes of lovers. But Shakespeare’s writing is never so shallow; through this romantic comedy, Shakespeare postulates an extremely cynical view of love. A Midsummer Night’s Dream becomes a commentary on the mystery of love, and lovers in general emerge shamedRead More William Shakespeares A Midsummer Nights Dream Essay1591 Words   |  7 PagesWilliam Shakespeares A Midsummer Nights Dream In William Shakespeare’s A Midsummer Night’s Dream, there are endless images of water and the moon. Both images lend themselves to a feeling of femininity and calm. 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I will be answering the question asked by providing quotes and examples of Shakespeare’s technique in showing that ‘The course of true love never did run smooth’ as well as providing answers as to why Shakespeare made this the case in the play

Tuesday, December 31, 2019

Analysis Of Daniel Dennett s Where Am I - 1509 Words

In this Daniel Dennett’s essay â€Å"Where Am I?† Dennett tackles the difference between mind, body, and a person’s identity. In his story, Dennett has his brain removed and preserved in a vat. His body stays alive, and radio transmitters make it so he can still function. Dennett starts to question who and where â€Å"he† is. Though Dennett has several strong ideas, he isn’t correct in everything he suggests. When Dennett goes to view his brain, his first thought is that he is outside of the vat, looking at his brain. This confuses him, because Dennett believes that he should instead think, â€Å"Here I am, being suspended in fluids, being stared at by my own eyes.† Puzzled, Dennett names his brain and his body so it’s easier for him to make sense of what’s going on. He names his brain Yorick, his body Hamlet, and dubs himself Dennett. First, he suggests â€Å"where Hamlet is, so is Dennett.† That idea is shut down when he starts to think about brain transplant experiments. In those experiments, it seemed like you could switch people’s brains and the person would follow the brain. Therefore, Dennett reasons that the body and the person can be separate, but perhaps the brain and the person can’t be separate. So he suggests that â€Å"where Yorick is, so is Dennett.† He starts wondering about committing a crime in a different state. Where wou ld he be tried? The state where his brain is? Or where he committed the crime? Deciding that just his brain being him isn’t right either, he comes to a thirdShow MoreRelatedAnalysis Of Daniel Dennett s Where Am I Essay1534 Words   |  7 Pagesother to function, but where do they join together to form a unique individual. To what extent do the mind and body bridge together to form a unique individual? Is there even a bridge that connects them or are the mind and body separate entities who solely rely on each other to function, but that’s where all the shared boundaries that create a person end. Daniel Dennett tackles these mind and body questions in his essay, Where Am I. In Daniel Dennett’s, Where Am I, Dennett agrees to undergo an operationRead MorePhilosophy comparing libertarianism, compatibilism, and determinism2363 Words   |  10 Pagesfree or if they are governed by forces outside of your control. In the following paper I intend to compare and contrast the three major philosophical viewpoints regarding this question, and come to a conclusion on which I find to be the right answer. I believe the best way to do this is to first lay out the beliefs of each viewpoint. Once I have done this I can compare them, and give my insight on which I believe to be right. The first viewpoint regarding human freedom is determinism. TheRead MoreBranches of Philosophy8343 Words   |  34 PagesWestern philosophy [edit] History Main article: History of Western philosophy The introduction of the terms philosopher and philosophy has been ascribed to the Greek thinker Pythagoras (see Diogenes Laertius: De vita et moribus philosophorum, I, 12; Cicero: Tusculanae disputationes, V, 8-9). The ascription is based on a passage in a lost work of Herakleides Pontikos, a disciple of Aristotle. It is considered to be part of the widespread legends of Pythagoras of this time. Philosopher replaced

Monday, December 23, 2019

The War On Drugs And Its Effects On Society - 889 Words

The war on drugs is one that continuously alters society and effects millions of people. Whether it be the constant back and forth battle of whether or not to legalize marijuana for recreational or medicinal use to stories of girls like Kristina in Crank that find their way to more potent drugs such as meth; drugs policies are always necessary. Stories like this are important to help people understand how drugs fit into our society and just how prevalent they are. In the story of Crank, Kristina is a well-behaved, average girl who falls into the cracks because of a boy. Her story probably is like many others who get sucked into the world of drugs. In the instance of cases like hers and many others, I think it is very important to take into account these stories when looking how drugs fit into our society. It is important because these people make up our society. There wouldn’t be any statistics, facts, or really any knowledge of how these drugs affect people and the community without these stories. The people who are doing the drugs and talking about them give everyone a better insight in to who does them, how they get involved with them, where each drug is being used most prominently and how they can change someone’s world after just one time. In the text, Kristina lived a good life and rarely got in trouble. Once she met a boy who offered her meth and told her how good it would make her feel, she agreed to try it just once. Before she did it she says â€Å"I was ready toShow MoreRelatedThe War On Drugs And Its Effects On Society1564 Words   |  7 Pages The War on Drugs is a deep-rooted controversial campaign of prohibition and military aid that has been disputed for many years. There are constant debates as to whether there will ever be a viable solution to the problem. However, as we continue to pursue the â€Å"war on drugs,† it has become increasingly evident that â€Å"winning† the war seems to be an impossible task. Dr ug prohibition and the undertaking of the war on drugs have stirred much controversy over its moral and logical implications. WhileRead MoreWar On Drugs And Its Effects On Society Essay1730 Words   |  7 PagesNovember 2016 Final Paper War on Drugs Introduction The War on Drugs was established in the early 70’s to end drug abuse, which had increasingly become a problem during that era. Considering drugs will continue to be manufactured and consumed, this war has no end. And because there is no boundaries, there is room for discrimination and people being targeted. A disproportionate amount of minorities, particularly African Americans, are incarcerated every year for drug possession. As a result, childrenRead MoreThe War On Drugs And Its Effects On Society1276 Words   |  6 PagesJust a little over a year and a half after being in office President Reagan declared a â€Å"war on drugs†, creating a zero tolerance policy. The â€Å"war on drugs† claimed that it would reduce drug use if they were made illegal. The common misconception of the idea of this solution if that by restricting the supply of illicit drugs for the demand the price would increase making it harder for users to afford the habit and further discour age users from using. When in reality this shifted individuals into diggingRead MoreThe War On Drugs And Its Effect On Society1888 Words   |  8 PagesHumans have the tendency to wage war on anything which they thing has a negative Fulsy 7 effect on their society or which may affect their way of life. Before the 19th century, alcohol was considered a product of religious relevance and individualistic satisfaction, but latter people realized it was being abused and in 1914 the Narcotics Tax Act was introduce. And later the 18 amendment was introduced prohibiting the sale, manufacture, and transportation of alcohol with exception to religious orRead MoreThe War On Drugs And Its Effect On Society1840 Words   |  8 PagesThe, â€Å"War on Drugs† has been an ongoing debate in many circles for much longer than most people know. Starting in the late 1800’s, drug regulations and laws have been imposed upon American society and, although they have changed and been manipulated to fit different policies, by different politicians with different agendas, they are still in effect today. These laws and regulations may be in place for the safety of society or, according to some, are a way for the federal government t o control theRead MoreThe War On Drugs And Its Effects On Society1907 Words   |  8 PagesThe â€Å"war on drugs† has been an ongoing problem for almost a century. With the amount of effort to decrease the use of drugs, it is still a major problem in today’s society. Drugs have played a crucial role on the effects of incarceration rates in our society. It has also played a major role on the effects on prisoners and their communities. In the first place, in the 1800’s, drugs made their first appearance in the United States. After the American Civil War, Opium became a popular drug in the UnitedRead MoreIs The War On Drugs?1252 Words   |  6 Pagesdiscussing is the War on Drugs. I will discuss the War on Drugs in relation to mass incarceration and to what consequences the War on drugs has caused among people and society itself. I have always been interested by the War on Drugs. However, slowly realizing, I only knew so much about the issue. As I further researched I learned what the term, â€Å"War on Drugs† really means. The â€Å"War on Drugs† is about the prohibition of drugs in society. Therefore, I strongly believe that the Drug War is a very controversialRead More America And The War On Drugs Essay1216 Words   |  5 PagesColumbia, when they have their own problems with drugs? The Untied States of America has a rather large drug trafficking problem but compared to Columbia it is fa irly small. To help Columbia solve their problem the U.S. senate has decided to send troops over there and take control. This new involvement will have many consequences in and what can you make for instance the cost of a war, the loss and gain of jobs, and physical side effects. Now war is a very serious subject to study for sociologistsRead MoreMethamphetamine And Cocaine Are Two Commonly Negatively Depicted Substances1746 Words   |  7 Pageslooking at the history of each. Important factors are when and how each â€Å"drug† came up in society. Other necessary characteristics one must analyze about each is the positives of each, but also the harmful effects of each. The final, and arguably most important aspect an individual must inspect is how society is affected by either meth or cocaine. Methamphetamine, or more commonly referred to as meth, is a popular recreational drug within the borders of the United States, but where is the origin of theRead MoreThe Vietnam War Has Far Reaching Consequences For The United States1710 Words   |  7 PagesFailure is a hard word, and no matter how you analyze the Vietnam War, that is precisely what it was. The War was a personal failure on a national scale. From its covert commen- cements, through the bloodiest, most tenebrous days and determinately to the acrid end, this ten-year period of American history is a national disgrace. This research paper will deal with some of the more intriguing aspects and effects of this war. Since the Vietnam conflict made absolutely no sense politically, militarily

Saturday, December 14, 2019

Racial Ethnic Groups in the United States Free Essays

string(92) " only their culture and people but the society of people in which they surround themselves\." Even in 2013 racism and ethic differences are a struggle in the United States. This is mainly due to the fact that unlike fifty years ago when the country was split just black and white, there are now more races involved. Granted, the generations now are much more knowledgeable about the ethic differences, most don’t see any harm in a person judged based on their skin color. We will write a custom essay sample on Racial Ethnic Groups in the United States or any similar topic only for you Order Now However, those who do still find it a problem have taken it to the extreme to let their opinions be known. Take for instance in week five’s reading; the hate that was betrayed against Asian Americans in the radio show where over two dozen Asian Americans were physically injured, thirteen of which had to go to the hospital because their African American classmates decided to fight. However that is not the worst part of that situation. Instead of the security guards and teachers doing something to stop the hate, they let it continue. And this is in every race. Many people in today’s day and age tend to pick more on the Latino groups of America. This is mainly due to the fact that a lot of them are not in the United States legally. Included in these races are people of Mexican, Puerto Rican, and Venezuelan heritage. The main reason for many of these immigrants to come to the United States is to receive a better life. But with this immigration mainly fail to assimilate properly to their local neighborhoods to live the American way. By assimilating in the United States one is able to adopt the cultural traits and/or identity of the host group, Americans, and/or integrate into the primary networks and secondary organizations of the host group.  (Feagin and Feagin) While coming into the country illegally the Latino race automatically puts a bad taste in most American’s mouths because on top of them coming into the country without proper paperwork, they take away jobs that could be used for other Americans simply because Latinos are known for taking a lower pay so that they may be paid in cash verses check based on the simple fact that they do not have proper documentation to be working in the United States. According to Milton Gordon, author of the influential Assimilation in American Life, there are many problems with assimilation. This though involved mainly European groups coming into the United States that they were not willing to adjust to the living styles of another country. This being the main problem of immigrants is that they will not forego racial difference to fit into the country. Gordon suggested that this will be the main problem with America in the future. (Page: 31, Racial and Ethnic Relations Census Update, Ninth Edition, 9E by Clairece Booher R Feagin and Joe R. Feagin, Pearson) This of course is not the case with all Latinos though. There are many people of these races that live in the United States legally that are hardworking and want to the properly the American way. These are the kind of people though that end up getting left in the dust because not many realize that some people want to be a part of the country to that extend. These Latin Americans have fully comprehended the concept of acculturation, or cultural assimilation, which is the change of one group’s important cultural patterns to those of the host or dominant group. (Feagin and Feagin) This doesn’t mean though that Latin Americans, or any race, have to give up their entire cultural habits. It simply means that they understand that they came into a different country and they respect the fact that some things culturally are done differently. For instance there were many situations brought up in the video on 60 Minutes regarding the American Canal. Americans see that canal as a water source for their vegetables in the winter, however those from Mexico see it as a dangerous way into the United States. This is of course a problem between the two races because the Americans don’t feel they need to alter the safety  of the canal so that Mexicans don’t continue to keep drowning in the water in attempts to get into the country illegally. Asian Americans have a huge burden on them just like the Latino races but it’s not as much as being considered â€Å"illegal†. Their pressure is more of an educational outlook. They are expected to excel in school and get great grades at high education at the best colleges. Some of this plays into their benefit though considering the life they will be able to live by better educating themselves. They are pressured with these expectations through their own families though too. For instance it is assumed that if a Caucasian American meets an Asian American while they are at school, such as college, it may be assumed that the Asian American is good at math. It might not be verbally said, but as Americans that is a trait that Asian Americans have always had. This is a trait though that does not , and should not, be given up with trying to fit into the American way of life. If anything a trait like this only enhances living in America. Take for instance the breakdown of educations in America. Asian-Indian Americans lead the country when it comes to obtaining a Bachelor’s degree from college with 70.1%, Chinese Americans follow with 52. 1%; Filipino Americans 48%, Vietnamese Americans at 27. 8%, Asian-Indian Americans with 70. 1%, and White Americans with 30. 7%. (Page: 338, Racial and Ethnic Relations Census Update, Ninth Edition, 9E by Clairece Booher R Feagin and Joe R. Feagin, Pearson) Even according to Gordon, the transition of Asian Americans into the United States society is a lot easier that other races and it has a lot to do with their ability to want to learn and help not only their culture and people but the society of people in which they surround themselves. You read "Racial Ethnic Groups in the United States" in category "Papers" According to the research done in the Feagin and Feagin text the amount of Asian students not only applying but getting admitted into college is increasing every year. A study shows that in 1979 2. 6 percent of students admitted into Brown University were of Asian descent. In 1993 however, it jumped to 14. 8 percent of the students accepted. Many researchers though such as James Madore of the Christian Science Monitor label Asian Americans as â€Å"model minorities†. However they still have their troubles. For instance the National Asian Pacific American Bar Association (NAPABA) argued with U. S. Supreme Court nominee Clarence Thomas for his use of the term â€Å"model minority† when describing Asian Americans. Thomas argued that Asian Americans â€Å"transcended the ravages caused even by harsh legal and social discrimination† and should not be beneficiaries of government affirmative action because they are â€Å"overrepresented in key institutions. † (Page339: , Racial and Ethnic Relations Census Update, Ninth Edition, 9E by Clairece Booher R Feagin and Joe R.  Feagin, Pearson) The term â€Å"model minority† can be taken as a good or bad quality as explained in the above paragraphs it is all a matter of who is saying it and in what context they are using the title. But it expresses the fact that Asian Americans still face hard consequences in the United States based on assimilation and acculturation because even though some of their traits from their own heritage are beneficial to Americans, Americans then feel offended that someone is coming into the country trying to take over schools and education. It is hard to be an immigrant in the United States and that is understood by a lot of people in the country. But at the same time Americans want to keep their reputation of living the American dream with excellent jobs and families that love and support each other with the right to stick up for what they believe in and the will to pursue their dreams in whatever they wish. It is the some groups of Americans that have backed down to the immigrants of the country and have been belittled by those  assimilating into the United States. It is these Americans that create the hate in the country against entire races verses individuals. It is the lack of education on Americans that plays into part of the frustration of the country. No one notices those trying to do things the correct way but that may be because there are so many immigrants in the country that are illegal and take advantage of the fact that they don’t have to do anything to stay in the country. But this is not â€Å"Living the American Dream†. Immigrants that are taking advantage of any state’s aid, or not agreeing to file proper documentation to become a citizen to receive a paycheck instead of a lower pay but being paid in cash are a huge part of the problem. Taxes play into this just as much. Immigrants to America are not stupid. America taxes everything and everyone is required to pay them. Not everyone does though. Having many other races enter the country in this day and age gives those of this generation a clue to what happened many years ago when whites and blacks were ordered to stay separated. There are still parts of the country that blacks are not welcomed and they are discriminated against. It is almost as if no laws were overturned. Today there are still about eleven states in the country without a street dedicated to Martin Luther King Junior, and some states say they do not plan on including that street in the maps anytime soon. With racial issues almost always a battle it is almost near impossible to say that everyone one day will be entirely happy and created equal. The battle between White Americans against Asian Americans against Latino Americans and African Americans seems to be a never ending battle. In his research, Gordon believe that â€Å"the integration of African Americans into the core economy and society is well under way†. (Page 205: , Racial and Ethnic Relations Census Update, Ninth Edition, 9E by Clairece Booher R Feagin and Joe R. Feagin, Pearson)This indicates simply that the full migration of different races, though thought to be fixed many years ago, still has many small details to be drawn out. Every person whom goes to school learns about the horrible way that African Americans were treated before any slavery laws were abolished. It is a part of any history class at an early age. Every child in America should be able to answer simple questions such as what was Jim Crow segregation. Could this be that years down the road history is repeating itself only with another race, which race will it be? Will it be all of them? Will it be illegal immigrants? African Americans though were willing to fight for what they believed they had a right to, they stood up and protected themselves and many dies fighting for what they believe in, which is the exact way that Americans are known to live their lives. That quality in itself is one of the most solid reasons as to why African Americans are treated equally in America now as opposed to having different drinking fountains and bathrooms and having to sit in the back of the bus. Many of the challenges facing African Americans today are more subtle and involve a struggle that is more within the African American community than without. Many of these challenges involve fighting negative stereotypes that were born from hip hop videos or the misuse of power and authority by well-known figures in the African American community. The struggle involves pushing against institutional barriers that have been strengthened by those in favor of maintaining a historical precedent or the status quo. For example, it oftentimes seems easier for city leaders to support the new school district that educates the suburban community rather than funding the struggling inner city schools. And simply because an organization has never had an African American leader, does not mean that it never should. Finally, the struggle involves a continued determination to resist an apathetic attitude toward the problems in the African American community. In many instances, it is not the opinionated few who determine the overall outcome, but the indifference of the majority who are usually directly affected by the decision that they fail to be a part of. Discrimination is described as the actions carried out by members of dominant groups, or their representatives, that have a differential and harmful effect on member of subordinate racial or ethnic groups. Since times of racial issues the word discrimination can be used for other things also. Many people even in the year 2013 are being discriminated for physical or mental differences too. There is so much hate in the United States yet and many people are not aware of it. Discrimination due to skin tone, physical or mental differences can have long tern effects on a person and often cause, like in the Asian cultures, attempts at suicide. These are actions that can be avoided if people would just educate themselves on the hate that is still in the world. How to cite Racial Ethnic Groups in the United States, Papers

Friday, December 6, 2019

Strategic Management for Innovation and Technology-myassignmenthelp

Question: Discuss about theStrategic Management for Innovation and Technology. Answer: Introduction Strategic management is the process in which an organization develops and implements plans for achieving the organizational goals and objectives. A successful strategic management process must involve managers and employees. The context of strategic management is concerned with the character and direction of the enterprise. This case study discusses Sara Lees retrenchment strategy concept. This strategy is adopted when an organization aims to minimize its cost by reducing one or a few business operations for achieving a stable financial position. In the given case study, Sara Lee started a small company of wholesale distribution that became larger with time, geographically and operationally. However, it was analysed that the shareholder value did not increase. Therefore, Sara Lee decided to divest eight business units for increasing operating profit and sales. It divested the less profitable industries and shifted its focus on food and beverage. This report shall critically evaluate the strategic retrenchment aspects of the company. Moreover, an analysis about the implications of Sara Lees macro-environment using PESTEL framework shall be made. At the end of the section, a set of recommendations of the strategic planning cycle regarding the organizations market and financial performance in Oman shall be determined. Critical Evaluation of Strategic Retrenchment Aspect Retrenchment Strategy is required by a company to reduce their expenditure in order to be more profitably stable. The financial stability is always the goal of a company and retrenchment strategy helps in achieving the same. This involves withdrawal of certain products or pulling out from a precise market and also sometimes discontinuing from the whole market. This is done to make a financial turnaround. Sara Lee Corporation also used these retrenchment strategies for stabilising their financial issues (Gamble and Thompson 2014). Sara Lee developed these strategies to make sure that the companies focus is primarily on the optimum utilization of its resources to make it more profitably stable. They wanted to focus on the products which have been more profitable and would provide strength to the companys financial status. Few years ago, the operating quality of the company was not as progressive as it was supposed to be. Sara Lees management then came up with the policy to support Sara Lees overall performance financially. Sara Lee divested some of their units from the market which included direct sales, meats in Europe and The United States, US retail coffee, Nuts and snacks (European) and other European products. The expected revenue to be obtained from the divested business was around $3 Bn. The net profit margins and operating margins from five out of eight businesses were negative. Four out of these five businesses had margin greater than negative 10%. Rest of the businesses also kept on declining and that is why the divestment strategy was developed. Sara Lees goal was to increase the profit margin, so they had to prioritise the sale of their beverages and goods used in households which were the areas where profit was marginally more. They also did something very innovative and it was really influential in 2008. They launched Project Accelerate, a program framed for reduction of cost and increase their productivity. Sara Lee started focussing on their overhead cost, reframing their supply chain and outsourcing. This program was planned to save approximately $400 million by the end of 2012 and in 2010 only, this project saved approximately $180 million. Then the management decided to buy back shares worth $3 billion within a three year period. Sara Lees revenue at the end of year 2010 was around $10.8 billion and then they decided to disassociate their international body care and household business (Tangpong, Abebe, and Li 2015). Their spinoff with Hanes brand Inc. was also a very bold move but eventually it was not as successful as it was projected by Sara Lee. The operating profit was still the support system of the company. This step could not strategically be called a deal breaker. The retrenchment plans was also a major part of their financial decisions. The company still lacked a lot of cash flow for their expansion programs and other projects. Other companies are also trying to compete with Sara Lee Corporation because they have been renewing the trends as far as the beverages and food products are concerned and Sara Lee has been struggling with the cash flow issues. Implications of Macro-Environment Sara Lees business units are affected by the external factors that can be analysed using the PESTEL framework: Political Forces- Political forces can be defined as the regulatory forces and legislations that affect the company. Sara Lee has a vast portfolio of companies from different industries. They deal in food and beverage, food processing, household products and multiple other categories that are governed by different regulatory bodies. Moreover, Sara Lee has business in over 40 countries such as Europe, America, Oman and others. Due to increased globalization, the business pattern and revenue is dependent on the taxation system of different countries. Economic Forces- The economic forces include the factors such as recession, unemployment, exchange rate fluctuations and other economic factors. It is analysed that the world is affected by global recession. The disposable income of the consumers has declined due to increased expenses. It is not pocket-friendly for the public to eat out which is why the consumers are turning to purchase food and grocery products. There is a need for more cash flow in the company for acquiring new trends from the food and beverage departments of other companies. However, there is economic slump experienced by Sara Lee that restricts growth. Social Forces- The social factors include the change in attitude, market trends, social trends, lifestyle and other socio-cultural factors. The people across the globe have changing demands and choices. In the current times, the people are switching to healthy and economical consumption of food that makes them purchase meet and other foods rather than eating out. Moreover, there is a need for products like frozen desserts, meats, bakery and coffee to make the range attractive. The consumers have high demand for the above mentioned food range as it is organic and suits the taste of consumers. The International Bakery experienced decline resulting in a loss of $726 million. This is because the consumers prefer having fresh bread in comparison to package bread. The demand for fresh bread is dominant in the European market. Further, the International Beverage segment grew that increases scope of opportunity for the beverages. Technological Forces- The technological factors refer to the recent developments and innovations in the technological field for improving the products and services. In the technologically advancing field, there is a huge opportunity for Sara Lee to conduct its business operations through e-commerce. Moreover, Sara Lee can focus on the logistics and production technology in the food industry for delivering high quality products. Such technological advancement shall increase the efficiency and quality of the products. Moreover, the cost may be decreased by the application of latest technology thereby giving room to Sara Lee for increasing operating profits (Johnston and Marshall 2016). Environmental Forces- There is increasing trend towards environmental sustainability. There is a wide scope for Sara Lee to create Corporate Social Responsibility or CSR products. The consumers prefer to consumer products that are sourced ethically or promote Corporate Social Responsibility. The eco-friendly products can help in increasing environmental sustainability in the organization. Legal Forces- The legal forces include the compliance procedures that can guide the legality of the company. The legal bodies make Sara Lee vulnerable as retrenchment shall increase unemployment level among the workers. The Workers Union, Remuneration Act and Fair Wage acts may apply to ensure satisfaction among the unemployed workers. Therefore, there is threat for Sara Lee if the legal compliances are not met with (Grant 2016). Recommendations of Strategic Planning Cycle The strategic planning cycle is defined as a set of formal planning procedures that are necessary to overcome operational problems. Before implementing a strategic decision, there is a number of decisions to be resolved. Sara Lee must select an external consultant who shall act as a strategic planning facilitator. The first step is to propose a mission. This shall align with the organizational competitive interests and advantages. It should also be noted that the need to review objectives arises from signals that may be different from, and independent of, the signals that cause a review of strategy. Each of the two cycles may take place at different times and over different periods of time (Fisher and Oberholzer-Gee 2013). First, Sara Lee on the go as any other company and it was a minor company that is doing extensive supply that slowly raised to a sequence of connected and unconnected commercial. The Sara Lee Corporation was an American purchaser stock association arranged in Downers Grove, Illinois. It had operations in more than 40 countries and sold its things in more than180 nations around the globe. The company after several years as mentioned earlier expanded into a food processing, retail food and household products to more than forty countries as mentioned earlier. For conducting the retrenchment strategy effectively, the employees must be chosen so that they are laid off strategically in a cost-efficient manner. Sara Lee must choose an appropriate timing to make the announcement (Frynas and Mellahi 2015). Firms may pursue a divestment strategy by spinning off a portion of the business and allowing it to operate as an independent business entity. But those that affect strategic decisions may be examined before, during or after the determination of objectives, the diagram is neutral on that point. It does show that strategic decisions cannot be taken until both the objectives and the factors affecting strategic decisions have been determined (Abebe and Tangpong 2018). The first stage is start engagement and commitment in which the employees must be engaged and commitment must be generated. Purpose and target setting involves setting of target mainly for the purpose of retrenchment. In the next step, analyzing and generating options, alternatives to retrenchment shall be determined. The issue that is confronting Sara Lee is that level board separation system and geologically spread operations has administration attempting to work viably. Declining benefits around the world, Sara Lee's Retrenchment is strip eight of its specialty units to raise productivity through working benefits and deals (Harrison and John 2013). Sara Lee has several positions that it can take that can strategically grow its profitability. The company currently has limited margins on its bakery line, especially from its dessert items. Since Sara Lee has significant market share with its packaged bread in North America, the company should eliminate its dessert sales and the sale of single-serving coffeemakers. Growth in this segment is very slow, and is not growing within the foodservice industry either. By selling off its dessert brands, Sara Lee can invest the profits of the sale into other innovations in its other business units. Sara Lee International should expand its household and body care brands into the Oman (Tangpong, Abebe, and Li 2015). Conclusion Sara Lee started a small company of wholesale distribution that became larger with time, geographically and operationally. Retrenchment Strategy is required by a company to reduce their expenditure in order to be more profitably stable. They wanted to focus on the products which have been more profitable and would provide strength to the companys financial status. Sara Lees goal was to increase the profit margin, so they had to prioritise the sale of their beverages and goods used in households which were the areas where profit was marginally more. The retrenchment plans was also a major part of their financial decisions. The company still lacked a lot of cash flow for their expansion programs and other projects. There is a need for more cash flow in the company for acquiring new trends from the food and beverage departments of other companies. Sara Lee can focus on the logistics and production technology in the food industry for delivering high quality products. References Abebe, M.A. and Tangpong, C., 2018. Founder?CEOs and corporate turnaround among declining firms. Corporate Governance: An International Review. Fisher III, W. W., and Oberholzer-Gee, F. 2013. Strategic management of intellectual property.California management review,55(4), 157-183. Frynas, J. G., and Mellahi, K. 2015.Global strategic management. Oxford University Press, USA. Gamble, J. and Thompson, A.A., 2014.Essentials of strategic management. Irwin Mcgraw-Hill. Grant, R. M. (2016).Contemporary Strategy Analysis Text Only. John Wiley Sons. Harrison, J. S., and John, C. H. S. (2013).Foundations in strategic management. Cengage Learning. Johnston, M. W., and Marshall, G. W. (2016).Sales force management: Leadership, innovation, technology. Routledge. Mann, M. and Byun, S.E., 2017. To retrench or invest? Turnaround strategies during a recessionary time.Journal of Business Research,80, pp.24-34. Tangpong, C., Abebe, M. and Li, Z., 2015. A temporal approach to retrenchment and successful turnaround in declining firms.Journal of Management Studies,52(5), pp.647-677. Tangpong, C., Abebe, M. and Li, Z., 2015. A temporal approach to retrenchment and successful turnaround in declining firms.Journal of Management Studies,52(5), pp.647-677.

Friday, November 29, 2019

Term Vs Whole Life Essays - Life Insurance, Whole Life Insurance

Term Vs Whole Life TERM VS WHOLE LIFE If you're like most people, there's nothing more important to you than your family. As difficult as it is for you to imagine not being there for them, it's a risk we all face. To help be sure your loved ones have the financial protection they'll need, it's important to not only think about the unexpected, but to plan for it. If you were gone, who would provide for your loved ones? Who would help... Provide cash for family income? Cover the cost of raising your children? Pay off your mortgage? Pay off your debts? Life insurance can help give your family the protection they need while providing you with peace of mind. It can help provide continuing income and help pay the bills--keeping your family's hopes and dreams alive even after your death. or to find out if you're approved for up to $150,000 of immediate 10-year term life insurance that could save you up to 30%.* Coverage starts today with no medical exam if you're approved.** Or, get more information on other life insurance coverage offered through U.S. Bancorp Insurance Services: in higher coverage amounts for maximum coverage at the lowest premiums that can be designed for long-term protection while providing flexibility in terms of premium payments and cash value accumulation. Applying for 10- and 20-year underwritten term and universal life insurance involves an interview and a medical exam (including blood and urine samples). Term Insurance Advantages Initially, premiums are lower than those for various forms of whole life insurance, thus allowing you to purchase higher amounts of insurance coverage. It is good for covering specific needs that will disappear in time, such as mortgages and other loans. Disadvantages Premiums will increase as you grow older and at the end of the term of the policy you purchase, such as 10 year term. In the 11th year the premiums will increase. Eventually, coverage may lapse due to the expense of the policy the older you do get.Generally, the policy does not have cash value. Permanent Insurance Advantages As long as the necessary premiums are paid, the life insurance policy is guaranteed to be there for your entire life. Your premium can be fixed or flexible to meet your own personal needs. The policy accumulates a cash value that you can borrow against. Loans would need to be paid back with interest or your beneficiaries will receive a reduced value of benefit if you pass away prematurely. If you ever needed to have your premiums paid for with you existing cash value, you can. If you surrender your policy, the cash value will be returned to you. Disadvantages The required premiums may make it to expensive to purchase the necessary amount of insurance you and your family needs. It may cost more than term insurance if you do not keep the policy long term. I think I would take the whole life insurance because it will adjust to your personal need as the term wont it is just a fixed rate but the whole life also has a fixed rate but it will fluxuate to fit your personal needs at the time that your in that would be why I pick whole life over term life. TERM VS WHOLE LIFE If you're like most people, there's nothing more important to you than your family. As difficult as it is for you to imagine not being there for them, it's a risk we all face. To help be sure your loved ones have the financial protection they'll need, it's important to not only think about the unexpected, but to plan for it. If you were gone, who would provide for your loved ones? Who would help... Provide cash for family income? Cover the cost of raising your children? Pay off your mortgage? Pay off your debts? Life insurance can help give your family the protection they need while providing you with peace of mind. It can help provide continuing income and help pay the bills--keeping your family's hopes and dreams alive even after your death. or to find out if you're approved for up to $150,000 of immediate 10-year term life insurance that could save you up to 30%.* Coverage starts today with no medical exam if you're approved.** Or, get more information on other life insurance coverage offered through U.S. Bancorp Insurance Services: in higher coverage amounts for maximum