Better Place Company Essay Example | Topics and Well Written Essays - 1750 words

Better Place Company - Essay Example In essence, the objective of this company was to reduce and eventual riddance of automobile industry’s over dependence on oil. The mission of Better Place Company is to make the world a better place by 2020 through successful adoption of electrical vehicles use. The intended change will create a significant difference in the environment by reducing the amount of emissions. The automobile industry stands to gains from Better Place Company in numerous ways, which include providing flexible and readily available products for the consumers such as service plans, accessible charge spots and switching stations. Moreover, the absence of Better Place Company in the automobile industry will significantly reduce and weaken the inter connections amongst the primary players in the industry. 1.3 Stakeholders Better Place Company enjoys an intensive niche of stakeholders in the electric vehicle manufacture and marketing environment across numerous countries, which include Israel, United States, Denmark, Canada, Australia, and Japan. Some of the Better Places’ stakeholders include diverse governments, national electric utility, and venture capital and battery firms. In addition, the car manufacturers and the corporate sector forms part of the Better Place Company’s stakeholders base. 1.3.1Significance of the Stakeholders The company depends on the stakeholders to run its activities. Running financial activities of any company requires capital and from the case study, Better Place Company gets its capital from the stakeholders. For instance, in 2007, the company raised $200 million from venture capital funding and $350 million in 2010 from different governments across the globe. The amount summed up to $1.25 billion making it the second largest start-up in th e history of company venture capital funding. On equal measure, stakeholders such as utility, battery and manufacturer companies play a significant role in helping Better Place in achieving its objective of widespread of Electric Vehicle adoption. The companies link the consumers with the car companies consequently reducing the hurdle of limited mobility, which undermines the adoption of electric vehicles. This linkage influences the consumers’ mindset to adopt the electric vehicles (JOHNSON, SCHOLES, & WHITTINGTON, 2008). Moreover, the linkage creates easy platform of improving services offered to consumers due to the competition amongst the firms. The healthy interdependence between the company and the stakeholders propels the growth of the company factors such as competition from other small companies motivate Better Place to offer exemplary services to maintain its market niche. Consider the following diagram indicating the interdependence between the stakeholders and the Better Place Company. Better Place Stakeholders On the other hand, the government through its policies influenced the standards and incentives, which enhanced provision of the bulky of increased activity in both the hybrid and EVs markets. In other words, the governmental incentives to the service companies such as Better Place expanded the respective market niches, consequently market competition. This move enabled the Better Place company to achieve its objective of wide spread adoption of EVs. 2.0 Industry and scenario analyses The steam engine technology, initially developed and adopted for industrial applications was progressively tailored to personal vehicles by middle of 18th century into the automobile industry due to increased population in cities. Increased demand for

Hitler Fascism and Mussolini Fascism Essay Example | Topics and Well Written Essays - 2000 words

Hitler Fascism and Mussolini Fascism - Essay Example This research will begin with the definition of fascism as a form of totalitarian government, with an authoritative dictator who takes control of the entire nation, its people and economy. It is a political ideology with a radical nationalism concept, which initiates a ‘revolution’ for promoting the fascist principles. Basically rejecting the idea of socialism, capitalism, and democracy, Fascism is anti-liberal in nature and has a sound emphasis on ethnocentrism and militarism. Benito Mussolini in Italy and Adolf Hitler in Germany are the two notable dictators, who embodied fascism in their countries and claimed ultimate power over it. The form of fascism adopted in Germany and Italy by these leaders greatly differed in various cultural, social, economic and political ideologies. The Italian fascism was shaped by Mussolini for his pursuit of nationalism while the German fascism was distorted to the social and political beliefs of Hitler. As defined by Roger Griffin, â₠¬Å"Fascism is a political ideology whose mythic core in its various permutations is a palingenetic form of populist ultra-nationalism.† It is a form of counter-revolutionary politics that arose during the World War period. The socio-political changes including the rise of socialism and communism in the aftermaths of the World War gave way for a new political setting in the name of ‘Fascism’ in Italy and other European countries. The rapid social upheavals as well as the devastation of societies and economy were the instrumentals to the rise of Fascism and Nazism in these countries. The Fascist ideology established by Hitler was based on his own personal reflections, Mein Kampf, which means My Struggle, written during his days before hailing power. On the other hand, Mussolini shaped his ideology after he took control over the Italian State. Mussolini’s Fascism stresses on dictatorship with extreme rights, typically excising power over the people and the nation, embracing an overarching state ideology. (Griffin, 1993).Similarly, Hitler’s Fascism favors aggressive nationalism, totalitarianism, fanaticism, and seeks blind obedience of its followers towards their authorities. Despite their different stands on espousing the ideologies of Fascism, they established it in a successful manner. â€Å"Hitler and Mussolini were both dictators, both lead totalitarian regimes in their countries and cooperated together during World War Two.† (Husic, n. d.). In 1919, when Italy was devastated in the aftermaths of the World War, it prospected for a new political aspect, which Mussolini took it as an advantage to gain control over the country. Taking this perfect opportunity, he introduced Fascism into Italy and established his rule under the autonomy of the king. However, with his followers, he organized paramilitary forces which terrorized the country with violent attacks and ultimately, took over the sovereign government under his power. (Payne, 1983). Similarly, Hitler’s Nazism was the ideologies and policies of Fascism which stressed on the superiority of the Aryan people. Hitler called for the unification of the German-speaking people into a one single empire. He was determined in creating a racially pure state which led to atrocities like Holocaust. He organized various military forces to maintain his power all over the country as a fascist dictator. Unlike Fascism, Hitler’s ideology held racism as its prior importance while the state was at a secondary in preference. Similarities Both Mussolini and Hitler had common socio-political viewpoints for dominating the world with their barbarism and fanaticism, which together created

Benefits of Activity Based Costing Essay Example for Free

Benefits of Activity Based Costing Essay In order to make a profit on production, the firm would have to charge a price that is greater than the cost of production. Generally, the cost of production is understood to be the cost of producing a good plus the cost of transportation to the consumer. In order to stay in business, and therefore, to avoid losses at all possible costs – the firm must cover all costs related to the production of the good and include all costs to deliver the same to the consumer at a price that is higher than the cost of production. The operating or overheard expenses of an enterprise are generated by its activities to perform its business and/or manufacturing processes successfully. As its name implies, activity based costing relates the costs facing the enterprise to its various activities. By so doing, this system of costing provides pretty accurate information about costs, allowing businesses to effectively manage their overhead expenses in order to increase their revenues (Cooper, 1988). It is but commonsensical that companies may work on cutting their costs once they know what is driving these costs. By improving their processes in order to cut costs, businesses may realize greater profits than before. What is more, by identifying high costing activities needed to produce certain goods or serve certain customers, companies may decide to focus instead on low costing products or customers by reducing their production of or service to high costing products or customers. In this way, they may shift their focus to products or customers that are more profitable to produce or to serve. Thus, management experts cite the following benefits of activity based costing as opposed to traditional methods of costing: Identifying the most and least profitable customers, products and channels. Determine the true contributors to— and detractors from—financial performance. Accurately predict costs, profits and resource requirements associated with changes in production volumes, organizational structure and resource costs. Easily identify the root causes of poor financial performance. Track costs of activities and work processes. Equip managers with cost intelligence to drive improvements. Facilitate better Marketing Mix. Enhance the bargaining power with the customer. Achieve better Positioning of products. (â€Å"Activity Based Costing,† 2008). Businesses that benefit the most from activity based costing are those with high manufacturing operating expenses or overhead costs. These costs may result from a diverse range or products, intensity of capital, or vertically integrated system of manufacturing. Activity based costing may help such businesses not only to understand but also to control their operating expenses so as to increase their revenues (O’Guin, 1991, p. 76). Organizations with large marketing, sales or distribution costs may also reap great benefits from activity based costing. As mentioned previously, this method of costing identifies those customers that are most profitable from those that are least profitable. This provides insight to management on how to improve operations. With activity based costing, such businesses may be able to answer questions such as: â€Å"What discounts are appropriate for large orders? What size accounts should salespersons no longer call on? How effective is advertising to different markets? † (O’Guin, p. 76). Firms that are experiencing sluggish or low profitability on increasing sales may be suffering from growth that is unmanaged. It may very well be that these businesses are selling products at losses to a number of customers. The accounting system of accurately measuring costs, that is, activity based costing, would allow these firms to determine which of their customers and products are generating revenues and which are not (O’Guin, p. 76). O’Guin describes another benefit of the activity based costing system thus: Even with a diverse product line or customer base and very high profitability, a company lacking an ABC system is surprisingly vulnerable. Product profitability probably varies widely across the company. Highly profitable products present an irresistible target to new market entrants. Management should know which products are reaping enormous margins, so they can erect barriers to entry. (p. 76). Also according to O’Guin, the activity based costing system provides not only strategic but also tactical benefits to businesses that implement it. Whereas benefits that are strategic in nature may be realized only once in a blue moon, for the simple reason that organizations cannot be expected to change their pricing, business operations, distribution or manufacturing processes each year – tactical benefits may be realized constantly. Indeed, activity based costing could help businesses not only with reduction of overhead costs, but also just-in-time support, improvement of quality, decisions about design, and investment in capital. Thus, businesses that implement the activity based costing system may improve their profitability on an ongoing basis (O’Guin, p. 76). In the twenty first century, companies that have a competitive edge are those that maintain flexibility, a trend that has been recognized as a critical factor for success since the 1990s. Life cycles of products have been shortened and focus on the customer has become increasingly important. As economies of scale virtually disappear, manufacturing plants that are successful are those that are able to quickly introduce innovative products and economically produce small quantities. Activity based costing system can help businesses tremendously to achieve these goals. What is more, this system of costing could assist businesses of the twenty first century to achieve their goal to increase employee motivation. With the activity based costing system in place, employees increase their understanding of business activities and therefore their involvement in business operations. So, for example, whenever they see a mound of papers they would see overhead costs, leading them to the following questions: Why do we have so many bills? Why are there so many process involved in our purchase orders (O’Guin, p. 76)? Thus, the activity based costing system encourages businesses to push their rates of cost drivers down. This helps in the reduction of time to setup, streamlines buying, in addition to time taken to development a product. When costs are attached to each of these processes or activities, management may not only measure but also plan improvement (O’Guin, p. 76). As mentioned before, some of these improvements may entail reducing production of goods or service to customers that cost more to produce or service than the others. Hence, the activity based costing system may also lead the business that implements it to improve upon its marketing mix or positioning of its products. If products and customers that cost more than the others are required by the company to produce or serve in the same quantity as before, however, activity based costing system helps the organization to improve its processes in order to decrease its costs without reducing the quantity to produce or serve. After all, it is only possible to improve inefficient processes. Because activity based costing allows the company to weigh the costs of activities against their benefits, firms that use it are in a great position to increase the efficiency of all of their processes so as to gain competitive advantages. References Activity Based Costing. (2008). Value Based Management. Retrieved Jan 27, 2009, from http://www. valuebasedmanagement. net/methods_abc. html. Cooper, R. (1988, Summer). The Rise of Activity-Based Costing – Part One: What is an Activity-Based Cost System? Journal of Cost Management, pp. 45-54. O’Guin, M. C. (1991). The Complete Guide to Activity-based Costing. Chicago, IL: CCH Tax and Accounting.

Physical activity for children

Physical activity for children Phisical activity for children Outcome 1 Introduction This report provides information about the key benefits of physical activity for children in two categories of age 2-6 and 6-11 years old. This report will present of areas of development of the above age stages, which contained: physical, intellectual, skill, and psychological/social/emotional. Physical development is a process that begins in the human childhood and lasts until late adolescents focuses on the ability of gross and fine motor, and maturation. Physical development involves developing control over the body, especially the muscles and motor coordination. Intellectual development is best defined as the childs ability to think and understand the world. The way in which the child takes and processes information related to carers and experiencing the effects of the world in all areas of development. Skill development Stages of Development Children Aged 2-6 Physical changes Physical development of children of preschool age is slower and more stable than in infancy, however remains dramatic. Some important factors affecting the physical development during the preschool include changes in the childs brain, gross and fine motor skills and health. Toddlers soon acquire the leaner, more athletic look associated with childhood, as the children around age 3 begin to lose their baby fat. The childs body and legs grow longer and make your abdominal muscles, tightening the abdominal appearance. However, even at this early stage of children life, boys have more muscle mass than girls. From age 2 to 6 physical proportions continue to change, as their heads are getting smaller, but they are still larger than the school childrens. Also, head proportion from large is changing to the body even out, what have an impact on the balance but that improve coordination. The using of energy system is less efficient than adults, what can be notices during exercise that the children breath heavier, sweats more and also heart rate is faster than the adults. The hot or cold environment has a much bigger impact than on adults too. As they are suffer more from overheating, becoming too cold, but also dehydrating. The energy system is affected by not fully developed aerobic system, as the oxygen can be supply a fraction of required by the working muscles. Young children are not able to exercise in high intensity, because their anaerobic system is still not fully developed. Intellectual development At this stage, babies eventually enable to cope with separation from parents. Language develops as children grow into toddlers and their world expands. Symbolic understanding and appear pretend play skills there. Children begin to work on their experience, such as feeding a doll or a car. In the preschool years, children expand their understanding of pre-academic skills. They learn to identify colours, shapes, numbers, and letters. They also begin to demonstrate phonemic awareness. Some children may even begin to read familiar sight words as they reach age five. Pre-schoolers also develop more elaborate symbolic and cooperative play. For example, peers work together to act out a theme such as playing house, with each player having a defined role. Skill development Motor skills are physical abilities or capacities. Gross motor skills involves the use of large body movements, and this includes running, jumping, jumping, turning, jumping, throwing, balancing and dance. Fine motor skills, which include drawing, writing, and tying shoelaces, involve the use of small bodily movement Motor fine skills involves the use of a small body movements, such as drawing, writing, and tying shoelaces, involve the use of a small body movements. Both above skills are develop and are refined in early childhood, but the motor skills develop more slowly in preschool. The comparison of the running abilities of a 2à ¢Ã¢â€š ¬Ã‚ yearà ¢Ã¢â€š ¬Ã‚ old and a 6à ¢Ã¢â€š ¬Ã‚ yearà ¢Ã¢â€š ¬Ã‚ old, will show the limited running skills of the 2à ¢Ã¢â€š ¬Ã‚ yearà ¢Ã¢â€š ¬Ã‚ old. But when compare the trying shoelaces of 2 and 6 year old the difference will be even more striking. The 2à ¢Ã¢â€š ¬Ã‚ yearà ¢Ã¢â€š ¬Ã‚ old has difficulty grasping the concept before ever attempting or completing the task. Physical activity For this age group, any physical activity is indicated, i.e. including both forms of light physical exercises, as well as, more vibrant and energetic suggestions. Providing children with adequate physical activity and game play is an important step to developing their physical fitness, which not only promotes the health of young children but significantly enhances their psychological development and social skills in the long run. It is evident that physical activity is essential to the whole-person development of young children. For young children, the amount of physical activity is more important than the intensity. Physical activity can enhance the development of young children’s gross motor and fine motor skills, and to foster their good health habits and self-care ability. Therefore, physical activity of any intensity level should be covered, e.g. daily activities of light intensity such as slow walking and packing school bags, activities of moderate intensity such as cycl ing, stair climbing or engaging in teacher-led large-muscle activity sessions, and even activities of vigorous intensity such as chasing and running around, dancing, swimming etc. engaged after school. Of course, activity of a higher intensity can enhance cardio-respiratory fitness and stimulate bone growth; it can also enhance their development of physical fitness and motor skills. For the maximum health benefit of young children, teachers can consider administering a suitable amount of higher intensity activity. As younger children’s leaders, teachers should give them ample opportunities to experience different kinds of physical activities within a safe environment. This is to train the young children’s fundamental motor skills, which are essential for them to cope with daily needs. Children may acquire better physical fitness and movement skills for participation in various sports activities in the future. Stages of Development Children Aged 6-11 Physical changes Children aged 6-11 experience many of physical changes occurring in their bodies. The coordination of arms and legs increases, also ability for use their fingers and hand in such things as crafts and writing improves. Furthermore, can be noticed the growth in interest in games with rules and organised sports. Intellectual development Skill development Physical activity References LAM, P Y, 2011. Phisical Actvity. Phisical Actvity for Children Aged 2-6, [Online]. Available at: http://www.startsmart.gov.hk/files/pdf/02052012_physical-Eng-d.pdf [Accessed 13 March 2015]. Physical Development: Age 2–6.[ONLINE] Available at: http://www.cliffsnotes.com/sciences/psychology/development-psychology/physical-cognitive-development-age-26/physical-development-age-26. [Accessed 13 March 2015]. Babies and Young Children: Diploma in Child Care and Education Jo Brewster, Pauline Jones Google Books. 2015. [ONLINE] Available at: https://books.google.co.uk [Accessed 14 March 2015]. Appendixes Table 1 Benefits of physical activity for young children Table 2 Physiological signs and examples of physical activity by intensities

Supernatural in Shakespeares Macbeth - The Three Witches :: Macbeth essays

Macbeth: The Three Witches William Shakespeare has been by far the world's most popular playwright for more than 350 years. His ingenious ability as a playwright has captivated audiences and will captivate audiences for years to come. William Shakespeare was born in Stratford-upon-Avon, England, in 1564. The specific date of his birth is not known but is celebrated on the feast of St. George, April 23. Little is known about his boyhood, but through examination it is thought that he collected a lot of his information from books and from daily observation of the world around him. During his life Shakespeare wrote many brilliant tragedies. He died on April 23, 1616, at the age of 52. One of these brilliant tragedies was Macbeth. It is thought to have been written between 1603 and 1606. Macbeth is considered the shortest of Shakespeare's tragedies, but not less powerful in its depiction of evil, greed, jealousy, and the madness these emotions bring to a person. (Shakespeare, pg. v) In any work of literature or drama there is usually foreshadowing. Foreshadow can be defined to be, "a sign of something to come: indicate or suggest beforehand; prefigure; presage." (Compton's Interactive Encyclopedia) Playwrights use this technique to give the audience a sense of what is to come or what exactly is going to happen to a character. Foreshadowing can be easily detected or it cannot be noticed at all until the end of the play or story. In Shakespeare's Macbeth, Shakespeare uses the prophecies of the witches and thoughts of Macbeth himself to foreshadow within the play. And Macbeth himself detects them somewhat as does the audience. In Macbeth, Shakespeare uses the three witches as main sources foreshadowing. In the play they are conveyed as prophecies. The audience experiences a little of these prophecies almost immediately in the opening scene and act of the play. When they talk about meeting Macbeth they say they will greet him, "when the battle's lost and won." (Shakespeare, pg.1) And then they yell together, "fair is foul, and foul is fair."(Shakespeare, pg.1) These two examples foreshadow that some sort of evil will be coming and that there will also be a victory of sorts, but the audience doesn't know specifically what yet. These also suggest a great battle is to be fought against good and evil and the events that follow will unfold at a rapid pace. This foreshadowing can be detected by the audience because they can feel the emotion of doom and evil rising. The actual prophecies given by the witches occur in the third scene

The Ethernet Essay -- essays research papers

Bob Metcalfe of the Xerox Corporation developed the first experimental Ethernet system in late 1972. The goal of the Ethernet was to interconnect the Xerox Alto Aloha Network. The experimental Ethernet was used to link Altos workstations, servers, and laser printers. Data transmission of the Ethernet was 2.94 Mbps. In 1973, Metcalfe changed the name to "Ethernet," to make it clear that the system could support any computer, and not just Altos, and to point out that his new network mechanisms had evolved well beyond the Aloha system. He chose to base the name on the word "ether" as a way of describing an essential feature of the system. The physical medium (cable) carries bits to all stations, much the same way that the old "luminiferous ether" was once thought to propagate electromagnetic waves through space. The Ethernet is a LAN (Local Area Network) technology that uses a shared bus topology, and Carrier Sense Multiple Access/Collision Detection access. It consists of a single, long cable, named the bus, to which computers, or sometimes referred to as workstations, are attached. Ethernet signals are transmitted serially, one bit at a time, over the bus and are received by every attached station. Data in the Ethernet is transmitted in the form of a frame, or packet. The frame consists of a set of bits organized into several fields. These fields include address fields, a variable size data field that carries from 46 to 1,500 bytes of data, and an error checking field that checks the integrity of the bits in the frame to make sure that the frame has arrived intact. The first two fields in the frame carry 48-bit addresses, called the destination and source addresses. The Destination Address contains the physical address of the station to which the frame is being sent. Any signal sent across the shared network reaches all attached workstations. However, communication doesn’t usually involve all workstations. To allow direct communication between stations the addressing scheme is used. Each workstation is assigned a unique numeric value, called a physical address or media access control address (MAC address). Although sharing allows all workstations to receive a copy of a frame, the hardware of each workstation checks the address of each incoming frame to determine whether it should accept the frame. The Source Address contains... ... its simplest form, only hub devices connect directly to the tree bus, and each hub functions as the "root" of a tree of devices. This bus/star hybrid approach supports future expandability of the network much better than a bus (limited in the number of devices due to the broadcast traffic it generates) or a star (limited by the number of hub ports) alone. In a mesh topology each computer is connected to every other computer by separate cabling. This allows for superior redundancy and reliability, as well as ease of troubleshooting. This type of topology is expensive and difficult to install because of the amount of cabling required. The original Ethernet operated at 10 Mbps, a later version Fast Ethernet operates at 100 Mbps and the newest version Gigabit Ethernet operates at 1 Gbps. The Ethernet is the most popular physical layer LAN technology in use today. It is popular because it strikes a good balance between speed, cost and ease of installation. These benefits combined with wide acceptance in the computer marketplace and the ability to support virtually all-popular network protocols, make the Ethernet an ideal networking technology for most computer users today.

An invesigation of the contribrution

Over the years, there have been many definitions of insurance but the most accepted definition is that given by ALAN WILLET in 1901. He defined insurance â€Å"As the accumulation of reserves for the purpose of contingencies†. Thus it is a business activity wherein some people or parties who are subject to certain risk pay monthly or yearly premium to an insurance company to transfer the burden of such risks.Insurance also may be defined â€Å"as a contract whereby a person called the insurer or the assure agrees in consideration of money paid to him called the premium by another person called the insured or assured to indemnify the latter against losses resulting to him on the happening of certain events†¦. J. O. Rusk (1991)†. The origin of insurance initially had a connection with ships and cargoes achieving a spread of risk.This origin dates back to as early as BBC (carter, 1991) when the â€Å"Babylonians developed a system of loans on maritime ventures whereb y the loans were not repayable in the event of the loss of the venture†, to the emergence of modern insurance development which owes its credence to Great Britain, though insurance Ewing introduced into Britain by the Lombard in the 14th and 1 5th centuries (Cooker, 2002). Insurance is an intangible service paid for and received at a future date.The technicality of insurance makes it obvious for uneven incidence of risks when there are infinite numbers of identical risks. It is also a risk transfer mechanism which provides enormous benefits to the individual/organizations (both profit and non- profit), government and socio-economy at large. Every individual or organization is faced with the likelihood of a loss, injury, destruction of life or properties; hence, it is asserted that â€Å"Risk is concomitant of life† (Chipolata 2006). In other words, risk is unavoidable.Since It is a form of risk management primarily used to hedge against the risk of a contingent, uncerta in loss, it is therefore because of the liability of an organization to predict the future that insurance is purchased. 1. 2 DEFINITION OF RISK The term risk is a simple notion which cut across a layman's definition to the technicalities of business practices. When someone states that there is risk in a particular situation or context, be it business or an event, the ordinary listener understands what it means on the face of it. What then is Risk?This question can easily be answered by adopting a generally accepted definition of Risk by a renowned scholar, Dry Matthias G. Healer. He defines it as the possibility that positive expectation of a goal-oriented system will not be achieved (uncertainty) and this will be due to either certain human or inhuman factors. Furthermore, risk refers to the uncertainty that surrounds future events and its outcomes. It has an expression which looks again at likelihood and impact of an event with the potential to influence the achievement of organiz ations objectives.When â€Å"risk† is said to exist, there is also the likelihood that expected results may not match those results hoped for I. E. A deviation. Benjamin Franklin in his book observed that in this world nothing can be said to be certain, except death and taxes. Yet there is some uncertainty about those two phenomena: no one can be sure when he/she will die, and tax rules and rates are frequently changed. In fact, the whole of life is surrounded by uncertainty. In some situation uncertainties are within the control of individuals or firm, others are part of the environment in which our lives operate.However, the word ‘risk used here changes. Insurance is an unsought good and the uncertainty in future events is what is being insured. Insurers' profitability in any portfolio depends largely on the frequency, the severity of its impact and its final results (uncertainty). Uncertainty is not merely a dimension of threats, hazards and risks but opportunities w hich if anticipated may result in a reward. The risk is the thing which is insured, the insured peril, the expected claims cost for any given policy, or as a general term for unwanted and uncertain future events. 1. 3 RISK MANAGEMENT AND INSURANCEOrganizations had long practiced various parts of what has come to be called risk management. Risk management is attempting to identify and manage the threats that could severely impact or bring down an organization. The management of risk is a fundamental aspect of entrepreneurial activity. Entrepreneurs manage the risk of accidental loss by weighing the costs and benefits of each alternative. In a structured risk management process, this involves: 1. Identify and analyze the loss exposure. 2. Formulate alternatives to dealing with such exposure 3. Select the apparent best techniques to treat exposure .Implement the decisions made 5. Monitor the effectiveness of the decisions implemented. Those who do not apply a structured process still m ake decisions about risk, although sometimes by default rather than design. For industrial or commercial firm, the objective of risk management may be to maximize profits, or to increase revenue, net worth or perhaps market share over some period, or to achieve a combination of several objectives, or Just to stay in business. Managing a multitude of internal and external risks is one of the most significant challenges facing organization set up today.Insurance serves a number of valuable functions that are largely distinct from other types of financial intermediaries. In order to highlight specifically the unique attributes of insurance, it is worth focusing on those services that are not provided by other financial services providers, excluding for instance the contractual savings features of whole or universal life products. The indemnification and risk pooling properties of insurance facilitate commercial transactions and the provision of credit by mitigating losses as well as th e measurement and management of non diversifier risk more generally.Typically insurance contracts involve small periodic payments in return for protection against uncertain, but potentially severe losses. Among other things, this income smoothing effect helps to avoid excessive and costly bankruptcies and facilitates lending to businesses. The scope of an economy's insurance market affects both the range of available alternatives and the quality of information to support decisions. For example, a manufacturer might produce only for the local market, forgoing more lucrative opportunities in distant markets in order to avoid the risk of losing goods in shipment.Transport insurance can mitigate this loss exposure and enable the manufacturer to expand. Similarly, to avoid the risk of total loss from drought, a commercial farmer may keep half of his seed in reserve. 1. 4 INSURANCE CONTRIBUTION TO AN ORGANIZATION Insurance through effective risk management contribute specialized expertise in the identification and measurement of risk. This expertise enables them to accept carefully specified risks at lower prices than non-specialists. They also have an incentive to collect and analyze information about loss exposures, since the more precisely they measure the cost of risk, the more they can expand.Over the years, the realization of risk management with the help of insurance has contributed enormously in achieving organizational goals severally. For instance, 0 It guarantees as far as possible, that the organization will not be prevented from pursuing its other goals as a result of losses associated with pure risks. 0 It contributes to profit by controlling the cost of risk for the organization 0 It can also reduce expenses through risk control measures (insurance) and as such increasing income.As a result, the insurance market generates price signals not only to manufacturing sector but to the entire economy, helping to allocate resources to more productive uses. In surers also have an incentive to control losses, which is a significant social benefit. Most fundamentally, the availability of insurance enables risk averse individuals, entrepreneurs and organizations to undertake higher risk, higher return activities than they would do in the absence of insurance, promoting higher productivity and growth. . 5 PROBLEM ANALYSIS All manufacturing companies are set up with a primary objective to produce goods that meet the needs of their customers and also to maximize profit. In the process of manufacturing goods the company is often exposed to varying and diverse risk(s) which affects all the factors of production. In as much as these factors are exposed, the logical conclusion is that the income of the company is threatened.Human lives are exposed to industrial injuries which sometimes end up in death, permanent or temporary disability, properties could be destroyed through fire out break or explosions, and liabilities could be incurred arising fro m the consumption of the product. When less emphasis is placed on these loss exposures, it will definitely lead to the demise of the company. This project therefore, will look at the effect of insurance in manufacturing sector and also whether manufacturing companies who place major significant on insurance are successful in their total business effort all other things being equal. . 5 PURPOSE OF STUDY As earlier mentioned, the aim of any manufacturing company is to maximize profit and ensure customer satisfaction. It is quiet obvious that in carrying out production the organization is exposed to so many risks. This study is focused on the effect of insurance in manufacturing these products, in essence, how risks that could not be voided, minimized, reduced or retained can be transferred to insurance companies while the organization focuses its attention to its real business. Our study seeks: 1. To find out how risks/ loss exposures has been managed in Banana breweries 2.To examine the effect of insurance in the development of the organization (Banana Breweries) as a case study 3. To examine risks that they have managed by way of transfer to insurance and how adequate are the various insurance covers. 4. To consider the extent to which insurance has contributed to the attainment of the corporate goals of Banana Breweries 5. To make policy recommendations on how insurance will assist to further develop Banana Breweries, GAMBLE, and The Gambia. 1. 6 RELEVANT RESEARCH QUESTIONS The research exercise is set out to answer the following questions: 1 .What is the level of insurance awareness in the manufacturing sector of The Gambia 2. Does insurance enhance corporate development 3. Has your company ever sustained any unusual, large or unique losses either insured or uninsured 4. Is insurance an effective risk transfer mechanism. Due to time and other constraints, the researchers had to narrow the scope of their duty to Banana Breweries co. Ltd and Gamble in The Gamb ia. The study shall focus on the effect of insurance in the above listed companies as well as its benefits.It will assist the company to continue appreciating the role that insurance plays in their activities, and also serve as a means of reviewing improvement measures in place which hopefully will bring about uncovered areas of loss exposures to their operations. 1. 9 SIGNIFICANCE OF STUDY All manufacturing companies exist to ensure that the shareholders maximize their wealth. Companies therefore undertake economic activities for profit. However, in heir pursuit of this venture all the factors of production are exposed to one risk or the other.Those study is primarily laying emphasis on the essence of insurance which will significantly aid the manufacturing concern to achieve their broad objectives, through a well coordinated and scientific measurement and assessment of the various risks that the manufacturing company is exposed to. The study will assist the company to continue app reciating the role that insurance plays in their activities, serve as a review of existing measures in place and hope to bring out uncovered areas of risks to their operation.