Life Insurance As Social Security Tool Finance Essay - Free Essay Example

Sample details Pages: 20 Words: 5925 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The business of insurance is to bring together the persons with common insurance interests sharing the same risks, collect the share or contribution (called premium) from all of them and pay out the compensations (called claims) to those who suffer from the risks. This sharing business benefits the society at large by spreading the losses of an individual over the group of individuals who are exposed to similar risks. People, who suffer loss, get relief because at least part of their loss is made good. Don’t waste time! Our writers will create an original "Life Insurance As Social Security Tool Finance Essay" essay for you Create order People who do not suffer loss are relieved because they were spared from the loss. Some of the benefits of insurance to society are discussed as under : Life Insurance as Social Security Tool The General Assembly of the United Nations adopted and proclaimed the universal declaration of Human Rights on December 10, 1948, which states that Everyone has a right to a standard of living adequate for the health and wellbeing of himself and his family, including food, clothing, housing and medical care and necessary social services and the right to security in the event of unemployment, sickness, disability, widowhood or lack of livelihood in circumstances beyond his control. When the bread winner dies, to that extent, the familys income takes a hit; the economic condition of the family is affected badly, unless other arrangements come into being to restore the situation. Life Insurance provides an alternate arrangement to overcome this situation. If this did not happen, another family would be pushed into the lower strata, which is actually a cost on society. Poor people cost the nation by way of subsidies, larger growth in population and poor education. In this sense, the life insurance business is complementary to the States efforts in social management. Under a socialistic system (based on the notion of equality for everyone, where everyone has a job and everyone has a place to live), the responsibility of full security would be placed upon the State to find resources for providing social security. In the capitalistic system (the means for producing and distributing goods like land, factories, technology, transport system etc. are owned by a small minority of people called the capitalist class), a provision of security is largely left to the individuals. The society provides different types of instruments like insurance, which can be used in securing this aim. Sometimes, also there is a tendency to provide some social security by the state under some schemes, where members are required to contribute. For example; the social security scheme in U.K. In India, social security finds place in our constitution. Article 41 requires the State, within the limits of its economic capacity and development, to make a effective provision of securing the right to work, to education and to provide public assistance in case of unemployment, old age, sickness and disablement. Parts of the states obligations to the poorer sections are met through the mechanism of life insurance. As per Section 32 (B) of Insurance Regulatory and Development Authority (Obligations of Insurers to Rural Social Sectors) Regulations, 2000, insurance companies in India undertakes the following obligations to extend insurance benefits to economically weaker sections of the society in the unorganized sector, during the first five financial years, like : in rural sector, in respect of a life insurer; 5% in the first financial year; 7% in the second financial year; 10% in the third financial year; 12% in the fourth financial year and 15% in the fifth year; of total policies written direct in that year. In respect of a general insurer; 2% in the first financial year; 3% in the second financial year; 5% thereafter, of total gross premium income written direct in that year. In social sector, in respect of all insurers, 5000 lives in the first financial year; 7500 lives in the second financial year; 10000 lives in the third financial year; 15000 lives in the fourth financial year and 20000 lives in the fifth year. The obligations of existing insurers as on the date of commencement of IRDA Act shall be decided by the Authority after consultation with them and the quantum of insurance business to be done shall not be less than what has been recorded by them for the accounting year ended 31st March, 2000. Economic Growth of the Country Insurance has had a very encouraging impact on Indias economic development. For development of any country, investments are necessary which are made out of savings. A life insurance company is a major instrument for mobilization of savings of people, particularly from the middle and lower income groups. These savings are channeled into investments for economic growth of the country. The Insurance Act 1938, has strict provisions to ensure that insurance funds are invested in safe avenues, like Government Bonds, profit making Companies etc. Huge funds of life insurance Companies are accumulated through payments of small amounts of premiums deposited by policyholders. These funds are invested in ways that contribute substantially for the economic development of the countries and not in any speculative ventures. Their investments, as in the case of the LIC, benefit the society at large. The private insurers in India are new and have accumulated funds equal to about one-eighth of LICs. Bu t even their investments in the various sectors and contributing directly and indirectly to the countrys economic development, would be of similar proportions. The sector is progressively increasing its contribution to the countrys GDP. In addition, insurance is also driving the infrastructure sector by increasing investments each year. Further, insurance has also boosted the employment scenario in India by providing direct as well as indirect employment opportunities. Insurance and reinsurance companies are often heavily involved in projects as providers of insurance of risks against liability, project completion, errors and omissions, business interruption, and the like. For example; either it is the case of huge oil and gas projects or Delhi metro project. The financing for the structure can be provided by a bank or insurance company, a syndicate, or through a securitization of the hedged, credit enhanced future flow. Due to the healthy performance of the Indian economy, the share of the life insurance premium in the Gross Domestic Saving (GDS) of the households sector has also increased (See exhibit 6). The increased contribution of the insurance industry from the households GDS has been ploughed back in to the economy, generating higher growth. Exhibit 6 :ÂÂ  Share of Life Insurance Premium in GDS House Hold Sector in percentage Source : IRDA Annual Report 2010-11 Apart from investments, business and trade also gets benefitted through insurance in a way that they are able to face the impact of major perils like fire, earthquake, floods etc. Hence, capital and credit are expanded with the help of insurance. The agriculture will experience protection against losses to cattle, machines, tools and crops. Thus, the insurance meets all the requirements of the economic growth of a country. Reduction in Inflation The insurance reduces inflation in the country in two ways. Firstly, money in the form of premium is paid to insurance companies in order to purchase the insurance policies. Hence, the purchasing power of the individual for buying other products reduces which in turn reduces the liquidity in the market leading to controlled inflation. Secondly, by providing sufficient funds for production, this helps in narrowing down the inflationary gap. In India, the total penetration of insurance (premium as a percentage of GDP) has increased manifold from 1.90% in FY00 to 6.72% in FY10. Tax Benefits of Life Insurance The following tax benefits are applicable to policyholders. Under Income Tax Act, 1961 An individual or HUF can claim a deduction on the insurance premium paid for self, spouse and children (including dependent children), under section 80C of Income Tax Act, subject to income slabs. Premium paid for critical Illness Benefit qualify for rebate u/s 80 D. Money received under a Life Insurance Policy As per section 10 (10D) of the Income Tax Act, 1961, any sum received under a life insurance policy including bonus declared or paid do not form part of taxable income. To put it simply, it is exempt from tax. However, monies received under key man Insurance policy are not covered under section 10 (10D). Under Wealth Tax Act Insurance premium paid as well as surrender value of Insurance policy do not form part of chargeable wealth. For the same no wealth tax is attracted when the policy is in force. On maturity of policy the amount received, if it remains in cash on March 31 of the succeeding year, will form part of chargeable wealth. Conventional Plans benefitting the Individual As directed by Government of India, the Insurance Companies under the conventional plans have to invest 80 to 85% in Government Securities, Debentures, Bonds, Money Market Instruments, etc and only 15 to 20% is invested in the Equities. These types of plans are very safe and secure for an individual but unfortunately, these were most preferred plans only till the private companies entered the Indian Market. Today also these plans are sold more than 50% by LIC as the capital is secured the life assured gets reasonable returns on maturity without exposure to the risk of share markets. The customer will always get a lower amount in case of surrender of policy anytime before maturity but instead of surrendering the policy he can opt for a loan against the policy which is around 90% of surrender value the interest rate is also very low, in LIC it is only 9% p.a. CASE APPLICATION [emailprotected]/* */ Client : A young married couple with a new baby. The wife owns a rapidly growing business. Issues: The wifes start-up business was doing very well so the couple continued to invest in the company to help it grow. The husband was recently laid off so he decided to stay home and raise their child while his wife poured in countless hours to propel the business forward. The couple did not have enough money left over from her earnings to put into a savings account or retirement plan since they were investing everything back into the business to ensure its growth. The couples biggest concern was how the husband and child would survive financially if the wife were to die or if she was disabled and in either event, she would be no longer able to sustain the business. The challenge was to find a way to provide the young family with a solution since their assets were tied up in the business. The Insurance Company suggested : Since all of the couples money was in the business, we advised the wife to buy life insurance and disability insurance policies using the earnings of her business to pay for the premiums. The couple was able to still invest in the company and the company earnings provided the premium payment for a high yielding life insurance policy. Outcome: Most of her earnings still stayed invested in her fast growing company, but because of the policies that were recommended and implemented, her family was reassured that they would be protected financially in the event that the wife were no longer able to run the business due to death or injury. CASE APPLICATION [emailprotected]/* */ Case Study- Insurance benefitted in reducing Operational Costs https://www.inca-it.com/Images/casestudies/csid2_userid6.gif State Bank of India, London, United Kingdom The Client STATE BANK OF INDIA (SBI) is the largest bank in India with over 180 years of banking experience. Today, State Bank of India ranks among the top 25 commercial banks in Asia with assets exceeding US$60 billion. SBI operates worldwide through an extensive network of over 9000 offices including 50 overseas offices in 48 countries. The Bank has won the Technology Award 2005, from the Banker, London. Until recently, SBI UK operation has been using the Misys-Equation banking application for its operations. This application runs on the IBM AS400 platform. Since 2001, IIL Risk Management has provided various IT related services to the Bank. The Problem SBI, UKs Treasury operations use the Reuters 3000 dealing system. Dealers negotiate and confirm various deals every day involving money market and forex trades. These deals were posted manually into the banking application. Manual posting carried with it the risk of error prone entries, missed out deals, lack of suitable and timely checks verification and inability to ascertain accurately counter party dealing limits.ÂÂ   The Bank required straight through processing from Reuters dealing server to the Misys-Equation platform to minimize operational risk. With an eye on future proofing the investment in the system it also desired that the solution be platform independent and therefore be based on java programming and be integrated with the Meridian middleware provided by Misys. In addition, they required counter party limits and exposures to be displayed back to the dealer on a separate screen by intelligently using the information from dealer initiated Reuter conversations with the counter party. Investigation of available products in the market place found that they contained many functionalities already catered for by the Reuter system and were not cost effective and used obsolete technologies.ÂÂ   The Solution IIL Risk Management (IIL) developed for the bank a unique and cost effective solution to automate the entire process from capturing deals from Reuter dealing 3000 server to posting into the core banking application. ÂÂ   The solution integrates various technologies such as Microsoft Windows 2000 server, Access database, IBM MQ series, Misys Meridian middleware and IBM AS/400. The process can be categorized as follows: Electronic capture of deals via Reuter Ticket Output Feed (TOF). Deal data processing with data validation and writing to database. Deal data mapping, formatting and posting to Misys Equation using Meridian Middleware/IBM MQ Series. Secure and user-friendly interface to monitor flow of deal data, correct any exceptions and review status of posting into Misys Equation. Intelligent use of Reuters Current Interest Feed (CIF) to retrieve counter- party dealing limits and actual exposures from the Equation banking system and displaying the same back to the dealers. ÂÂ  All the above modules work closely with each other in terms of connectivity, request and response along with reliable audit trails. The Benefits The implemented solution reduced SBI, UK Treasury Departments workload considerably virtually eliminating the need for human intervention. Operational efficiency was greatly improved. Timely display of counter party dealing limits at both Group and Individual level and actual exposures enabled the dealers to know the exact position at any given time. This was an important technology based support for the Banks efforts to minimize operational risk from manual interventions. COSTS OF INSURANCE TO SOCIETY Although the insurance industry provides many social and economic benefits to society, it is necessary to recognize the social cost of insurance. Cost of insurance to society are as follows : Cost of Doing Business Insurance industries consume means and economic resource like land, labor, capital and business enterprise in providing insurance to society. In financial terms expense loading must be added to the pure premium in their daily operations. An expense loading is the amount needed to pay all expenses, including commissions, general administrative expenses, state premium taxes, acquisition expenses and an allowance for contingencies and profit. As a result total cost in society will be increased. However, these additional costs can be justified for several reasons: From the insureds view-point, uncertainty concerning the payment of covered loss is reduced because of insurance. The costs of doing business are not necessarily wasteful, because insurers engage in a wide variety of loss prevention activities. The insurance industry provides jobs to millions of workers in the United States. However, because economic resources are used up in providing insurance to society, a real economic cost is incurred. Fraudulent Claims Cost of insurance also comes from the submission of fraudulent claims. Examples of fraudulent claims include the following : Auto accidents are faked or staged to collect benefits. Dishonest claimants use slip and fall as accident. PhonyÂÂ  burglaries, thefts or act of vandalism are reported to insurers. False health insurance claims are submitted to collect benefits. Dishonest policy owners take out of life insurance policies on insureds who are later reported as having died. The payment of such fraudulent claims results in higher premiums to all the insured. Inflated Claims The final cost of insurance refers to inflated claims. Although the loss is not intentionally caused by the insured, the amount of the claim may exceed the actual financial loss. Some examples of inflated claims are as follows: Attorneys for plaintiffs sue for high-liability judgments that exceed the true economic loss of the victim. Insureds inflate the amount of damage in auto-mobile collision claims so that the insurance payments will cover the collision deductible. Disabled persons may pretend to be sick for disability income benefit for a longer duration. Insureds exaggerate the amount and value of property stolen from home or business. Inflated claims should be regarded as important social cost of insurance. Premium must be increased in providing additional losses. CASE APPLICATION [emailprotected]/* */ (Permission Granted) [New India Assurance Co Ltd v/s Hardip Singh Others II (2003) CPJ 103 (NC)] Can an insurance company independently challenge the award under a professional indemnity policy? During a gall bladder surgery, Mohinder Kaur developed ventricular tachycardia, followed by ventricular fibrillation. She suffered cardiac dysrhythmia and went into coma due to medical negligence, becoming bedridden at the age of 45. A case was filed against the surgeon, the anaesthetist and the hospital. The insurance company was a party to the proceedings. The District Forum awarded a compensation of Rs 2 lakh, payable by the insurance company on behalf of the doctors under the professional indemnity policy. This was challenged in appeal before the State Commission, which upheld the Forums order. The doctors did not continue further litigation, but the insurance company filed a revision petition before the National Commission. Observing that it was incumbent on the insurance company to indemnify doctors under the professional indemnity policy by paying the amount awarded by the consumer forum, the commission stated the challenging of the order by the insurance company without rhyme or reason is neither proper nor desirable. The commission expressed deep anguish that such petitions were being filed. It observed that such cases are not meant to be fodder for the legal department and the insurance company cannot go on a spree in filing such petitions. The commission stated it was restraining itself this time, but warned that if such petitions are filed in future, heavy cost would be imposed. The agony of a consumer must end at some stage. It is the duty of the insurance company to see that frivolous cases were not filed so as to clog the wheels of justice, which result in wastage of time. While dismissing the revision petition, the commission directed the order be sent to the chairman-cum-managing directors o f all insurance companies. CASE APPLICATION [emailprotected]/* */ Dinesh Mishra was the owner of an apparel showroom situated in a commercial area of Navi Mumbai. The showroom stocked clothes for wealthy, trendy young people. It carried a variety of designs and premier collections designed by famous designers, including Ritu Beri. On weekdays Mishra would stay in the apparel showroom upto 1:00 am as people in the city preferred to do late evening shopping. Thus, he could not spend sufficient time with his family during weekdays.ÂÂ   Every weekend Mishra spent time with his family. One evening, he was enjoying his weekend with his family in a restaurant situated outside the town on a small hillock. While Mishra and his family were enjoying a mid-night buffet at the restaurant, his cell phone started ringing. Ratan, the security guard of the apparel showroom, was on the line. In a panic-stricken voice, Ratan informed Mishra that there was a major fire in the showroom and that the showroom was completely destroyed in the fire. On hearing the news, Mishra was shell-shocked and couldnt speak a word. After regaining his composure, he rushed to the spot and tried to get first hand information about the fire accident. He asked the security guard how the accident had taken place. He then informed UB Insurance Corporation of the incident. UB insurance was the primary insurer for the property. UB insurance sent a claims adjuster, Venu, to meet Mishra and analyze the damage caused to the property. Venu had considerable experience as a claims adjuster. He had been associated with UB Insurance Corporation for nearly five years. Prior to this, he had worked for Delhi Insurance Corporation for nearly four years. Venu rushed to the site of the accident as soon as he received orders from his superior to conduct a spot analysis of the property in question. At the site, Venu met Mishra and assessed the situation. He asked Mishra about the daily turnover of business in his showroom. Mishra informed Venu that the business was moving quite smoothly. Later, Venu asked Mishra for the books of accounts related to the business. Fortunately, the books of accounts were not damaged in the fire. The books revealed that in recent times, there was a reduction in sales. When Venu asked Mishra the reason for the decrease in sales, Mishra replied that it was because of low demand during the off-season period. Venu later made enquiries with other apparel shops in the area and was told that competition was quite intense in the region, and that demand had been low for the past two months. After obtaining all the necessary information pertaining to the business, Venu again came back to Mishra and asked the probable reasons for a fire occurring on a Sunday and not a weekday, and that too, at such a late hour. Since the showroom was closed at the time of the accident and all lights and other electricity related equipment had been switched off, Venu felt that there should have been less chance of a fire accident occurring during the weekend. Mishra asked Venu to consult the fire fighters who would perhaps be able to throw some light on the possible reasons for the cause of the accident. When Venu asked the fire fighters involved in putting out the fire, they informed him that the fire might have been caused by a short circuit. ADVANTAGES AND DISADVANTAGES OF INSURANCE IN HANDLING RISKS Life insurance refers to the protective cover on the life of the individual insured and provision of financial benefits in case of loss of life of that individual within a certain period. It must be understood that life is pretty unpredictable and one needs to be prepared to meet all unforeseen events. Some of these unforeseen events may cover adverse situations, also termed risks. While some are preventable or can at least be minimized, some are completely avoidable. Nevertheless some risks are totally unforeseen. Sometimes it is impossible to avoid losses. For example; people may become ill. They may die as a result of a grave illness or grievous injuries sustained in accidents or their homes or other property may undergo damage or theft. In all such cases, they may have to face substantial losses in incomes and savings. Insurance is a matter of financially ensuring that if such an incident does come about, the loss does not affect the present wellbeing of the person. When considering taking up insurance it is important to also consider factors such as the type of risk, the effect of that risk, the cost of the risk and what one can do to mitigate this risk. Insurance is appropriate only when one wants to guard against a significant monetary loss. The word significant is important here because if the potential loss is small, it doesnt make sense to pay a premium to protect against the loss. Let us take the case of life insurance; if a person is the sole breadwinner in a household, the loss of income that his family would experience as a result of his premature death would be considered a significant loss. It would be very difficult for his family to replace his income. This is where taking an insurance policy helps. The monthly premiums ensure that if one dies, his income is replaced by the insured amount. The same principle applies to many other forms of insurance. Insurance allows not only the individuals, but also business houses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate. One may consider taking up insurance to protect oneself or any other person from financial hardships. Insurance may cover any of the following: Protecting ones family from loss of income after ones death. Ensuring debt repayment after death. Covering contingent liabilities. Protecting against the death of a key employee or person in ones business. Protecting ones business from business interruption and loss of income. Protecting oneself against unforeseeable health expenses. Protecting ones home against theft, fire, flood and other hazards. Protecting oneself against lawsuits. Protecting oneself in the event of disability. Protecting ones car against theft or losses incurred because of accidents. Major Advantages of Life Insurance in Handling Risks Life Insurance plays a major role to hedge the risks of the future, which may or may not take place. It is also used to hedge against the risk of an uncertain loss. Risk Cover Life today is full of uncertainties; in this scenario Life Insurance ensures that your loved ones continue to enjoy a good quality of life against any unforeseen event and to cover the risk of loss. Financial Security The policy of life insurance provides economical security to the family of the policy holder in case of death of the breadwinner. On occurrence of this unfortunate event, the family is forced with a cash crunch. But by availing a life insurance policy, this problem of cash crunch is solved by a lump sum amount paid by the insurer. Planning for Life Stage Needs Life Insurance not only provides for monetary support in the event of untimely death but also acts as a long term investment. The policyholder can meet his aims in life such as childrens education, their marriage, building dream home or planning a relaxed retired life (all according to life stage needs and risk appetite). Some prevalent policies like traditional endowment plans, offer in-built guarantees and defined maturity benefits through variety of product options covering all major risks such as Money Back, Guaranteed Cash Values and Guaranteed Maturity Values (see chapter 9 and 10 for more details). Protection against Rising Health Expenses The cost of health is increasing day by day and the instrument like insurance helps in meeting these heavy unbearable expenses. Insurance Companies, either through riders or stand alone health insurance plans offer the benefits of protection against the risks of critical diseases and hospitalization expenses. (see chapter 13 for more details). Builds the Habit of Prudence Life Insurance is a long-term contract, where, as policyholder, you have to pay a fixed amount in the form of premium at definite intervals. This builds a prudent habit of long-term savings and these regular savings over a period of time ensures that a decent corpus is built to meet financial needs at various life stages and cover all those risks faced in the future. Safe and Profitable Long-Term Investment Life Insurance is a highly regulated sector whereby, IRDA (Insurance Regulatory and Development Authority), the regulatory body, by various rules and regulations ensures that the safety of the policyholders money being the primary responsibility of the Insurance Company. Life Insurance also being a long-term savings instrument, ensures that the insurers focus on returns over a long-term and avoid risky investment decisions for short term gains. Assured income through Annuities Life Insurance is one of the best instruments for retirement planning. The money saved during the earning life span is utilized to provide a steady source of income during the retired phase of life (refer chapter 12 for details). Protection plus Savings over a Long Term Since traditional policies are viewed both by the distributors as well as the customers as a long term commitment; these policies help the policyholders meet the dual needs of protection as well as long term wealth creation efficiently. Growth through Dividends Participating (with profit) policies offer an opportunity to participate in the economic growth without taking the investment risk. The investment income is distributed among the policyholders through annual announcement of dividends/ bonus. Facility of Loans without affecting the Policy Benefits Policyholders can avail loans on all traditional policies, except money-back plans, if he has paid premiums for at least three years. The interest rates vary from company to company. This helps them to meet unplanned life stage needs without adversely affecting the benefits of the policy they have bought. Note : The way the loan amount is calculated is different for ULIPs and traditional policies but recently as reported by the newspaper Business Standard on 22nd Jan 2012, IRDA is planning to ban loans by life insurance companies against ULIPs and is not approving any unit-linked plans with a clause of loans against policy. IRDA Chairman, Mr. J Hari Narayan confirmed the fact that, Fundamentally, ULIPs are risky products, given that they are linked with the stock market. In case the fund value drops dramatically due to negative price movement, the risk would come to the insurers. Hence, loans against such products are not advisable. Mortgage Redemption There are circumstances in life when the individual needs funds but is unable to get from various sources. Insurance acts as an effective instrument to cover mortgages and loans taken by the policyholders so that, in case of any mishap, the burden of repayment does not fall on the bereaved family as the loan amount is deducted from the police value on maturity. Major Disadvantages of Life Insurance in Handling Risks There are certain disadvantages to buying life insurance like you have to die to win i.e. you pay your premiums every year because you want to protect your family. This is inexpensive insurance so you had no problems with these payments. 20 years go by and you didnt die. You have nothing to get back from the life insurance company. It would have been a fair deal as you were only paying for death benefit. On the other hand, had you purchased a permanent policy you could keep it forever but if you chose to stop in 20 years for example you would likely get back a good portion of the premiums you paid. If you include your dividends you may actually get back all your premiums at that point. Dividends are not guaranteed so the life insurance company is not allowed to project that this will happen. Permanent policies cost more than term policies so your choice may depend on how much you are able, or are willing, to pay for your life insurance. Life Insurance policies can also be disadvantageous may be due to agents, when you work with an agent you have to pay commission to him, this may lead extra cost. If you cut the middlemen then you can save money on premium. Incompetent Personnel and Facilities in the Industry Not all insurance companies are equipped enough to provide the consumers with life insurance policies they actually require. Many Insurance corporations have emerged after realizing the vast market potential and the untapped new segment. These companies are by and large interested in making huge profits rather than helping the general public with their insurance related queries. In the process, these insurance companies, hire unskilled people and provide poor infrastructural facilities. The insurance companies do not make use of modern methods to find the value of loss of goods insured .This alarming trend seen even in some developed countries is poised to stunt the growth of insurance industry. However with the advent of globalization multinational corporations have been constantly acquiring and merging with these companies. They are therefore able to provide the necessary impetus and remove this setback though not to the full ex tent. Lack of Consumer Awareness The ultimate consumer is still not aware of life insurance policies. The level of his understanding is not sufficient. This is partly because of the reason said above. Some of the domestic companies dont have the technical expertise to implement the latest practices. Moreover the services of insurance agents could sometimes do more bad than good. Some of them try to convince their clients to invest more or to choose certain policies which are not much beneficial to the clients. A person will find himself in trouble if he invests more than what is actually required. Since some agents indulge in unethical practices, this has led to wrong mindsets among general public about insurers. Expensive The life insurance can prove to be a costly affair, particularly when suffering from illness and regarded by insurers as high risk due to some reasons like old age etc. Irrelevant in case of no family or dependents The life insurance policy is irrelevant for an individual who is not having any family or dependents Increasing Premiums The premium payable increases with the increase in age. But the income gradually decreases which makes it difficult to strike a balance. No benefit in case of Long Life Some policies do not provide any cash benefit on the policy holder surviving the policy term. In that case, amount paid for premiums is wasted. From the above discussion, it becomes clear that though life insurance is a mixed blessing, yet its advantages outweigh its disadvantages. But at the same time, it depends on the requirements of the individual. Life insurance is a savings option that helps the individuals, general public, business houses and the nation at large. It is therefore a wise move to choose a life insurance policy but, he has to gather enough information about life insurance companies and their products which suits your requirement. SELECTED REFERENCES Adapted from Pooling of Risk, Mint, Markets and Finance (2012, 9th July) Deepti Bhaskaran Mishra,M.N., Mishra, S. B. (2008), Insurance Principles and Practice, S.Chand. George, E. Rejda, (2008). Principles of Risk Management and Insurance, 9th ed., Pearson Education. QUESTIONS FOR REVIEW AND DISCUSSION Insurance is able to curtail inflation, so it should be made compulsory. Comment. Do you support the view that Indian masses are under insured? Define insurance from viewpoint of the individual and of society. How is diversification form of risk transfer ? In what way does it result in risk reduction ? A common mistake made by people unfamiliar with risk management is to think of self-insurance as being synonymous with risk retention. Discuss the differences between these concepts and the relationship between them. Explain whether the following risks and perils are insurable by private insurers : A hailstorm that destroys your roof The life of an eighty-year-old man A flood Mold Biological warfare Dirty bombs List out at least three major differences between insurance and gambling ? List out at least three major differences between insurance and hedging ? List out the requirements which are necessary to be included in the category of insurable risks by the insurer ? What are the costs to society of insurance and what are the contributions that insurance makes to society that justify these costs. Describe in detail the importance of Insurance. What are the uses to the business community and society as a whole ? Because large-scale human-made and natural disasters are not controllable by insurers, should the government pay for damages? Because insurance is the business of insurers, should they handle their problems without being subsidized by taxpayers? What would be the outcome in terms of safety and loss controls?

Reconstruction After the Civil War Essay - 665 Words

Reconstruction was the foremost goal for many after the civil war. Yet, various individuals and political parties held a plethora of contrasting beliefs concerning how to face this reconstruction task. In terms of the Reconstruction, two ideas permeated the political field: who would have the authority to enact these changes and in what ways would national unity be accomplished. It is obvious that throughout this time the power held within the federal government would be challenged by southern state governments. The struggles reflected the inability of reaching a concurrent decision. During Johnson’s presidency Republicans did not agree with the meager actions in regards to ex-rebels. Republicans did not agree with how the government†¦show more content†¦With the 15th amendment prohibiting racial discrimination in voting rights in all states, Republicans were able to settle issues of war in regards to both democratic power and black rights. As Republicans continued w ith their goals of reconstruction they focused on federal aid for education, civil rights, and economic development. Yet Democrats in the south upheld their own opinions and causes. Democrats used the issues of increased government spending and increased taxes as a way to fuel the fire of unease within the still struggling south. A shift between federal and state regulation occurred with the Slaughterhouse cases. The 14th amendment would only protect rights linked to the federal government such as voting yet other issues would be decided by the state. State responsibilities became the focus during this shift. Democrats saw this as an advantage to use state politics as a way to manipulate the system. When President Hayes left Southern states with subsidies for internal improvements and leaving Republicans essentially on their own., the Democrats were able to end the Republican based reconstruction effort. Today in our government, Democrats actually favor an increase in government control and influence. They prefer a system in which a government influences large scale issues affecting all citizens. Republicans in modern times favor small governments displayed through state politics. Resources should be monitored by the state with minimum governmentShow MoreRelatedThe Reconstruction After The Civil War977 Words   |  4 Pagesend to start something new. One such movement was the Reconstruction. Reconstruction was a time period between 1865 and 1877 following the Civil War, during which people of the United States worked to put the country back together again, introducing a new set of significant challenges. Though, like all things in life, it did come to an end, the resulting outcome had been labeled both a success and a failure. The Reconstruction after the Civil War consisted of failures as well as successes. DespiteRead MoreReconstruction after the Civil War900 Words   |  4 PagesAfter Reading John Hope Franklin’s  Reconstruction after the Civil War  I have a completely new outlook on reconstruction. Some may say that this book, regardless of its historical contribution on Reconstruction, which it tries to demolish William Dunning’s myth of white supremacy. It is also has a very serious attempt to be fair and objective about a very controversial period when race, politics and ideology played a very different role in Society. It is precisely in Franklin’s abilityRead MoreThe Reconstruction of America after the Civil War1078 Words   |  4 PagesThe Civil War left a country divided not only by property lines and borders but by beliefs as well. Not just religious beliefs, moral beliefs also. It left both sides, north and south struggling, trying to figure out what their next move towards reuniting the divided America was going to be. The period following the end of the Civil War would become known as the â€Å"Reconstruction Era.† An era that raised just as many questions as it did answers. A reconstruction of America that seems to carry on manyRead MoreReconstruction After Civil War Essay1503 Words   |  7 PagesReconstruction Reconstruction was a period of time between 1865 and 1877, which was very complex and controversial. It refers to the actual rebuilding of the south physically, economically and politically from the damage of the Civil War. It was an effort to rebuild southern states and also to restore the Union. During this time period, the federal government passed a series of laws, acts and amendments to bring change. Many of these amendments guaranteed the equal rights to African-AmericansRead MoreEssay on Reconstruction After the Civil War934 Words   |  4 PagesThe period of Reconstruction began during the Civil War and ended in 1877. This era is known for the advancements made in favor of racial equality. These improvements included the fourteenth amendment (citizenship and equal protection under the law to blacks) and the fifteenth amendment (voting rights for blacks) of the Constitution. Yet, with the end of Reconstruction in 1877, the Republican Party lost control of the southern governments and the Democratic Party took over. This shift in power wasRead MoreThe Reconstruction Era after the Civil War558 Words   |  2 Pages The Reconstruction Era The Reconstruction Era was looked upon with much optimism, considering that abolitionists and African Americans believed that this process would make it possible for them to achieve their goals. The project was generally meant to assist the South in reintegrating in the Union and in assisting African Americans to become equal to white individuals in the U.S. The Freedmen were apparently one of the main missions that the Reconstruction was designed for and it actually seemedRead MoreAmerican Reconstruction after the Civil War Essay1228 Words   |  5 Pages Reconstruction was a period of time after the Civil War (1865-1877) that was supposed to be the rebuilding of America. It was also the process used to readmit all the Confederate states back into the Union. There was controversy, however, on how to go about rebuilding the nation. Abraham Lincoln proposed a lenient plan. After he was assassinated, Andrew Johnson proposed a very similar plan. The Radical Republicans, a group of legislators that were in favor of freedmen’s rights, were opposedRead MoreReconstruction Policy after the Civil War Essay1176 Words   |  5 PagesPost-civil war the torn nation juggles wide ranges of emotions as they attempt to piece together the shattered unity but didn’t know how to go about doing so. President Lincoln had great plans for the reconstruction but was killed before he could put them into action. He was murdered by John Booth at Ford Theater and passed the next morning. Lincoln’s Vice-president, Andrew Johnson, took ove r and became the new president. Johnson and Congress argued about how to go about the reconstruction and inRead MoreThe Problems of the Reconstruction after the Civil War Essay898 Words   |  4 PagesAfter the conclusion of America’s Civil War, President Abraham Lincoln pitched the idea of â€Å"Reconstruction,† which would bring the southern states back into the Union. President Lincoln, according to many radical Republicans, was too gentle on the south. The government was divided on how to solve the issue of readmitting the southern states back into the Union. In addition to that, the government was not certain on what rights to enumerate to the newly emancipated slaves. These issues became moreRead MoreThe Reconstruction Effort That Occurred After The Civil War1476 Words   |  6 Pages The Reconstruction effort that occurred after the Civil War from 1865 - 1866 had both positive and negative effects on the nation. Leading up to the Reconstruction attempt, there was developing regional differences between the North and South. Slavery was the issue of the decade. North argued that it was inhumane, while the South was quick to point out that many Northerners benefited from slavery. The Presidential election of Lincoln lead to the succession of the South. They believed that the United

Current ideas about assessment in mathematics teaching Free Essays

string(141) " all my pupils to be able to hold on the rudimentss of a given subject within a period of learning clip, determined by me, their instructor\." There are many methods of reflecting upon one ‘s ain work, but carried out critically and positively, all should take to an ability to better the quality of that work. The cardinal word here is â€Å" should † . Improvement will merely take topographic point if, following the contemplation, some stairss are identified and implemented to convey about betterment. We will write a custom essay sample on Current ideas about assessment in mathematics teaching or any similar topic only for you Order Now It is the intent of this paper to help that contemplation and contemplation procedure. The rubric of the essay requires rating of my instruction. The word â€Å" evaluate † is taken to intend â€Å" to judge or find the significance, worth, or quality of † , as defined by Dictionary.com. The paper will measure, in a chronological order, the instruction I carried out over a two hebdomad period. In peculiar it will analyze the appraisal techniques that I employed at each phase, and will reexamine the effectivity of the appraisal. Where appropriate the paper will propose where things could hold been done better. As the rubric dictates, this paper is a contemplation upon learning that I carried out during my first arrangement, as portion of my PGCE class. As such, it refers in the most portion to personal experience and contemplations upon that experience. The paper will hence be written chiefly in the first individual, with mentions from other parties in the 3rd individual. Having considered the appraisal employed throughout the instruction, I will so see a figure of general findings, and how assessment may impact those findings. What Is Assessment and Why Is It Important Assessment is a portion of all of our lives from the minute we are born, as the accoucheuse places a babe on the graduated tables. It follows us through early childhood ( as female parents and wellness visitants assess what a babe can make at each phase in their development ) , into school and beyond into employment. The facet of appraisal with which this paper is concerned is the appraisal carried out within the mathematics schoolroom. The word â€Å" appraisal † is used to denote any witting activity intended to supply information about a student ‘s accomplishment or attainment. There are four chief types of appraisal, ( as defined by Weeden, Winter and Broadfoot, 2002, p19 ) Diagnostic – to place students ‘ current public presentation Formative – to help acquisition ( including equal and self appraisal ) Summational – for reappraisal, transportation and enfranchisement Appraising – to see how well instructors or establishments are executing. Of these, formative and summational appraisal will have the most focus, with consideration being given to the effects these types of appraisal have on students ‘ acquisition. Appraising appraisal is non considered within the range of this essay. Whether appraisal is good to a student ‘s acquisition or non depends on the usage to which the information gained is put. For illustration, wellness visitants may place a nutritionary demand of a immature kid which can be corrected with the appropriate input, and likewise instructors may place an educational demand of a student which they can take stairss to turn to. William ( in Weeden, Winter, Broadfoot, 2002, p29 ) suggests â€Å" all four maps of appraisal require that grounds of public presentation or attainment is elicited, is so interpreted, and as a consequence of that reading, some action is taken † . Weeden, Winter, Broadfoot ( 2002 ) besides conclude that appraisal becomes formative when the information gained is used by the instructor and student within the learning procedure. I would besides add that it requires the consequences of the appraisal to be acted upon within a short clip frame, while feedback is still relevant. Furthermore, â€Å" inventions that include beef uping the pattern of formative appraisal green goods important, and frequently significant, larning additions † . ( Black et al. 2003, p9 ) . The purpose, hence, is to guarantee that appraisal, of all types, is used formatively wherever possible. The Class That Was Taught The category that I taught was a Year 9 category of 20 students. Although they were classified as a lower-attaining category ( Set 3 out of 4 ) , the scope of abilities within the category and the particular demands of a few persons warrant some brief description. One male child had arrived late from Somalia and had a limited appreciation of English, but no other particular demands. Several of the students had low reading ages, typically in the age 8 – 9 scope, and were hence challenged by some word jobs. Additionally, one of these students had moved into mainstream categories at the start of twelvemonth 9, after two old ages supported by the school ‘s â€Å" nucleus programme † , and hence sometimes needed extra support as respects concentration. Four of the students in the category were on the school ‘s SEN registry as BESD, i.e. they had behavioral, emotional or societal troubles which without careful handling could take to disruption in lessons. One-half of the category entered twelvemonth 7 with a National Curriculum assessment degree of 3b or 3a, with the balance at low degree 4. By the terminal of twelvemonth 8 all were accessed at degree 4 or 5c. Several of the students moved up by merely one or two degree points during their first two old ages at Secondary school, bespeaking some cause for concern. The category was routinely supported by a Teaching Assistant, whose function was chiefly to back up the student with EAL, but besides to supply general support as required to other students. The Topic Taught The subject taught was Ratio and Proportion. The Scheme of Work indicated five hours of instruction, the equivalent of six 50 minute lessons, and I set about bring forthing a subject program consequently. The really first Standard which a trainee instructor must accomplish is to â€Å" hold high outlooks of kids and immature people † ( Training and Development Agency for Schools ( TDA ) , 2010 ) . With the benefit of hindsight, I can see that the word â€Å" high † in this criterion is a word that requires considerable understanding and single application to each student. At the clip, nevertheless, I took this to intend that I should anticipate all my pupils to be able to hold on the rudimentss of a given subject within a period of learning clip, determined by me, their instructor. You read "Current ideas about assessment in mathematics teaching" in category "Essay examples" â€Å" Low outlooks by instructors are regarded as a much bigger job than high outlooks. † ( Weeden, Winter and Broadfoot, 2002, p64 ) . Determined that my learning would non be portion of this â€Å" bigger job † , I set about my planning with high outlooks for all my students. This position was proven to be instead excessively simplistic during the instruction, but this will be elaborated upon subsequently. The subject of ratio and proportion, harmonizing to the strategy of work, is pre-dominantly a degree 5 – 6 subject, so would by necessity be disputing for most of the students. With a comparatively unfamiliar category I felt it was of import to get down by measuring how good the category would get by with some of the cardinal mathematical constructs which would be necessary for the subject. The first activity in the instruction, hence, was to re-cap fractions understanding. In peculiar, could the pupils cut down fractions to their simplest signifier, and could they happen fractions of measures? This was mostly a diagnostic appraisal, to set up a starting point for my instruction. Having established that all students had a sound appreciation of simplifying fractions, I introduced the construct of ratios and simplifying of ratios. This was followed by sharing a stated measure by a given ratio, and happening a missing measure given one measure and a ratio. The concluding instruction activity was to present the thought of proportion and to specify the difference between proportion and ratio. The subject was completed with a summational appraisal, and by self- and peer-assessment in the signifier of production of a posting. For the intents of this paper, I will concentrate chiefly on the start of the subject and the decision of the subject, and the appraisal strategies employed at these points. Some reference will be made of the interim instruction, peculiarly with mention to the effectivity or otherwise of appraisal carried out at this phase. The Teaching Re-cap Fractions My determination to get down this subject with a re-cap of fractions was based on the similarities that I perceive between fractions and ratio. It hence seemed logical, before get downing on a new and potentially ambitious subject, to set up how much the category already knew about fractions. As claimed by Ausubel, ( in Clarke, 2005, p12 ) , â€Å" The most of import individual factor act uponing acquisition is what the scholar already knows. Determine this and learn him consequently. † Therefore, the intent of this lesson was diagnostic appraisal to be used to inform the instruction for the balance of the subject. Although diagnostic appraisal has been found to be uneffective if it is simply used for â€Å" puting † intents, it has had benefits if used to place the single acquisition demands of a student. ( Black et al. , 2003 ) . A starter activity ( of fiting braces of tantamount fractions ) indicated that the bulk of the category had an first-class appreciation of this construct. I established this by leting students to work in braces to fit the fractions, and so inquiring persons, or their spouses, for replies. I attempted to use a â€Å" no hands up † attack, as recommended by Lee ( 2006 ) , sometimes utilizing lollipop sticks to choose students to reply. â€Å" No hands up † was a new attack for the category, and many found it hard to defy seting custodies up or shouting out ( or both ) . I would hold with Lee ‘s averment that seting hands up can take to a competitory environment for some students. I would besides propose that it can take to disinterest from other students who see no demand to acquire involved. Having established that the students possessed an ability to simplify fractions, the following relevant facet of fractions was the ability to happen a fraction of a measure, e.g. A? of 36. Using mini white boards, I was able to set up that all students could work out simple measures. It was so of import to cognize the methods they had employed and to understand their idea procedures, and I used oppugning and synergistic treatment to set up students ‘ methods. As Morgan, Watson and Tikly ( 2004, p133 ) put it, â€Å" cognizing that they can bring forth the right solution is a instead dead-end piece of cognition for the instructor. It would be more helpful to happen out the restrictions of the manner they presently see the undertaking. Knowing how they see the procedure and what they say to themselves while making it, provides you with a get downing topographic point to learn them to work out more complicated jobs. † The popular method of happening A? was halving and halving once more, which led me to revise the inquiring by inquiring how to happen 1/5th of 30. This in bend led to treatment of division and generation, and through the discourse it became evident that many had troubles with times tabular arraies. As it was non my aim in this lesson to revise times tabular arraies, generation grids were made available to students who asked for them. More students asked for the grids than I had expected, which I believe was declarative of a general deficiency of assurance with mental maths. As a signifier of distinction this was effectual for those who needed the grids, but may besides hold led to others seeking an â€Å" easy option † . In the hereafter I would seek to administer such AIDSs to merely those I believed truly needed them. However, with the usage of the generation grids it was a straight-forward following measure to travel to non-unit fractions, and all students showed sensible ability to happen fractions of measures. I stated in the debut that the intent of this lesson was mostly to execute a diagnostic appraisal. As a consequence of the lesson I had gained a assurance in my students ‘ ability to manage fractions sufficiently good to come on to the following phase. I had non, nevertheless, asked my students to self-assess whether they felt the same. As a consequence, when, towards the terminal of the whole subject, I asked the students to self-assess how they felt about the assorted parts of the subject, I was surprised to detect that about all felt that they were unable to â€Å" make fractions † . It would look evident that although I believed my students had achieved the acquisition result, by the terminal of the subject they did non portion that belief. If I had instigated self-assessment during this lesson, the consequence may hold been different, but I will ne’er cognize for certain. I agree, with the suggestion of Weeden, Winter and Broadfoot ( 2002, p73 ) , that using effectual signifiers of ego appraisal will do students â€Å" more responsible for and involved in their ain acquisition † . This is an country that I will necessitate to look to better as I move frontward into my following stage of instruction, as â€Å" it is far more valuable for pupils themselves to take part in the appraisal procedure than for instructors to be the exclusive proctors of advancement. † ( Morgan, Watson and Tikly, 2004, p134 ) . Even though the declared intent of the lesson was diagnostic appraisal, I made some effectual usage of formative appraisal during the lesson. For illustration, I used oppugning to place the students ‘ methods, and so adjusted my oppugning in response to their replies. While this was effectual, there was range for improved usage of oppugning, to examine deeper into their degree of apprehension. Ratio and Proportion The chief instruction of ratio and proportion was spread over three lessons. Over that period we progressed from basic apprehension of the algorithms to application of the algorithms to â€Å" existent life † type jobs. As the work was spread over three lessons I was afforded the chance to reexamine the work in students ‘ books. Mindful of the research findings ( Black et al. ; Butler ; Clarke ; Thorndike ; in Stobart, 2006 ) , I restricted my marker to placing errors and doing remarks. The research of Thorndike, carried out about a hundred old ages ago, highlighted the comparative consequence of delegating classs to work, i.e. the assignment of classs taking to pupils comparing themselves against one another. This is supported by more recent research summarised by Clarke, ( 2005 ) , to boot doing a nexus to the importance of measuring attainment against the larning aims instead than against other students. My purpose in placing students ‘ errors was to be able to turn to mistakes and misconceptions in subsequent lessons. I was able to make this to some extent, but I do non hold the grounds of a follow-up appraisal to be able to corroborate whether this was wholly successful. The comment-only marker should hold been followed up by leting the pupils clip to reexamine the remarks, and re-work their replies in line with the remarks, as stressed by Black and William ( in Clarke, 2005 ) . I did non let sufficient clip for this to be done. It may besides hold been good at this phase if I had asked the students to notice for themselves on their work, as recommended by Clarke ( 2005 ) . She suggests this as a signifier of self appraisal, whereby the student, holding identified an country for betterment, would discourse the suggestion with the instructor. The in agreement betterment would so be made either in lesson clip or as a prep activity. In general, the planning of clip to let students to utilize the feedback they have received, and the subsequent appraisal of the effects, is an country of failing that I will necessitate to better if my feedback is to be genuinely formative. Another country of appraisal which I was trying to utilize during this instruction was effectual inquiring. I found a figure of troubles with effectual oppugning in this category, which may good be common across most categories. The first challenge was trying to guarantee all students were involved, without seting undue force per unit area on students who are non comfy replying inquiries in forepart of the whole category. The usage of mated activities helped in some instances, as students were able to give â€Å" squad † replies and support each other if required. Team- or pair-working is a method which I should look to widen in the hereafter, for usage with higher-order inquiries, and to promote the usage of more mathematical linguistic communication. The usage of â€Å" Study Buddies † has been shown to promote non merely mathematical talk and look, but besides peer-assessment and self-reflection ( Lee, 2006 ) . My efforts to guarantee all students were involved in replying inquiries led to some really awkward silences as I allowed the recommended ( Black et al. , 2003 ) wait-time. With one peculiarly quiet student whom I ne’er persuaded to reply a inquiry, the issue turned out to be merely one of being â€Å" afraid to acquire it incorrect † – this was a truly unfortunate state of affairs as it transpired from the terminal of topic trial that she had an first-class appreciation of the work. Not merely was her reserve making her a ill service, but the remainder of the category would besides hold benefited greatly from her part. In add-on, even if she had â€Å" got it incorrect † , this excessively would hold been of benefit. As Lee ( 2006, p26 – 27 ) states â€Å" a incorrect reply, possibly more than the â€Å" right † one, helps the instructor buttocks what further larning students need. † End of Topic At the terminal of the subject I decided to transport out two pieces of assessment – a summational trial and a brooding self-assessment. The summational trial besides included some points from the old subject I had taught this group. Its intent was to set up how good the students had remembered subjects they had been taught throughout the old six hebdomads. I was fortunate that this trial took topographic point at the start of â€Å" Christmas hebdomad † , when it was normal pattern in the school for lessons to be more relaxed. This allowed me clip to speak separately with each student, to discourse what they had done good and where they may hold had misinterpretations. I was concerned that the students were more interested in the grade they had achieved than in the feedback I was able to give them about their acquisition. Harmonizing to Weeden, Winter and Broadfoot, ( 2002, p115 ) this is non uncommon, as â€Å" the accent is ever on grade or class and seldom do students truly care about what they really achieved. † Although this was designed as a summational appraisal, I was besides able to utilize it formatively by placing a common job with algebra, and turn toing this in the last lesson of term, thereby utilizing â€Å" the wake of trials as an chance for formative work. † ( Black et al, 2003, p55 ) They besides conclude that â€Å" summational trials should beaˆÂ ¦ a positive portion of the acquisition procedure. † ( 2003, p56 ) The self-assessment took the signifier of the production of postings summarizing all they had learnt about Ratio and Proportion. The appraisal showed a assorted degree of apprehension, and ability to pass on that apprehension, within the category. One group showed an first-class apprehension and had clearly referred back to their books to guarantee that they included all the stuff right. The EAL pupil had trouble with this activity, so I encouraged him to be really ocular with his posting. Others had taken hapless notes during the instruction and struggled to remember the information – this, in itself, was a utile acquisition point for them, as they consider the quality and utility of what they write in their books. ( Two ( contrasting ) postings are included in Attachment A ) . Overall, this was an effectual drawing together of the subject, and enabled the students to self-assess their ain acquisition, as the production of postings â€Å" aˆÂ ¦ requires pupils to reflec t upon and organize their cognition in order to pass on it † ( Morgan, Watson and Tikly, 2004, p151 ) Although this self-assessment enabled students to reflect upon their acquisition, as it took topographic point at the terminal of the subject I was unable to supply an chance for students to set their contemplations into pattern. The appraisal can non hence be described as genuinely formative. An excess lesson would hold enabled the students to move upon their contemplations, thereby doing the assessment formative. General Findings Excessively Much Material A repeating job with many of my lessons was trying to suit excessively much stuff into each lesson. This resulted in me travel rapidlying to â€Å" acquire through † the lesson. I therefore allowed deficient clip for examining and higher-order inquiries. This was to the hurt of my instruction and my students ‘ acquisition as â€Å" instruction is more than make fulling a kid with facts. It starts with presenting hard inquiries † ( Spendlove, 2009, p32 ) . I was losing chances, non merely to dispute and excite some of the students, but besides to measure the deepness of their apprehension and place misconceptions at an early phase. Communication and Questioning Much formative appraisal can be achieved by effectual communicating and oppugning. Black et al. , found effectual oppugning â€Å" aˆÂ ¦ led to richer discourse, in which the instructors evoked a wealth of information from which to judge the current apprehension of their pupils. † ( 2003, p41 ) However, many secondary school students appear to be fresh to constructive treatment in a lesson environment, and there are considerable challenges involved in altering this state of affairs, particularly if outlooks of communicating are non consistent across a school. Add to this the excess linguistic communication dimension of the â€Å" mathematics registry † as Lee ( 2006 ) calls it, and it goes some manner to explicating the trouble I had in promoting students to speak about their mathematics. While it may be disputing, the benefits of effectual communicating to pupils ‘ larning justify attempt being spent to better the quality of communicating in lessons, as â€Å" larning can non take topographic point in a vacuity and it is at its best when there is a rich bipartisan duologue between instructor and scholar and scholar and scholar. † ( Spendlove, 2004, p44 ) The countries of communicating in which students are encouraged to go involved include replying inquiries, and explicating their thoughts and methods. This can show farther troubles with the usage linguistic communication, peculiarly for students with EAL, who may happen themselves wholly excluded from the discourse. Another group of students who may hold a similar job are those for whom such communicating is unfamiliar outside school. â€Å" Children aˆÂ ¦aˆÂ ¦ . from families where English is non the first linguistic communication may be disadvantaged by trust on unwritten interaction. † ( Morgan, Watson and Tikly, 2004, p150 ) The fact that all students are larning a new mathematical linguistic communication together could be seen as a leveler for the EAL pupils, as all pupils â€Å" aˆÂ ¦need to larn how to utilize mathematical linguistic communication to make, control and show their ain mathematical significances. † ( Pimm, in Lee, 2006, p18 ) . Much of the linguistic communication will necessitate to be learnt by both EAL and non-EAL students. As a instructor purpose on promoting the usage of mathematical discourse as portion of formative appraisal in my instruction, I will necessitate to run into these challenges creatively. Expectations As mentioned earlier, I set unvarying â€Å" high outlooks † for all my students, but I had given deficient consideration to the comparative nature of the word â€Å" high † . Whilst I believe that I am right to anticipate all of my students to accomplish an apprehension of what they are being taught, how fast and to what degree are things that need to be separately agreed. This so leads to the ability of students to measure their ain advancement against agreed marks and aims. I found that one student in the category ne’er did any work in the lesson until his outlook for that lesson had been separately negotiated with him. He would so bring forth some first-class work, by and large transcending my outlooks. Ollerton, ( 2003 ) relates the importance of students disputing themselves against their ain marks, instead than viing against one another, and that in such a civilization, outlook can be high but accomplishable, holding been negotiated and agreed between student and instructor. Assessment Against Levels A trouble which has permeated my first instruction pattern has been the definition of â€Å" degrees † at which students are working. There has been an accent placed upon students being cognizant of the degree at which they are working, and being able to measure for themselves how they are come oning against those degrees. There is a danger, nevertheless, that this can take to â€Å" clicking boxes † for each point required within the degree, without needfully developing the apprehension behind the capable stuff. This is similar to the issues raised by Skemp ( 1976 ) , sing the importance of Relational Understanding as opposed to Instrumental Understanding. It is certainly possible for a student to be assessed, both by themselves and their instructors, to be working at degree 5, for illustration, while missing the relational apprehension to use their accomplishments in other countries. I tested this concern with a Year 6 student, with current maths degree ( instructor and trial ) assessed as degree 4a/5c. Without any learning about the topic of ratios ( other than a definition of the word ratio ) , this student was able to use bing mathematical cognition and apprehension to right work out ratio and proportion inquiries graded at degree 6. My twelvemonth 9 students on the other manus, while theoretically working at the same degree, and after several lessons on the topic, were unable or unwilling to utilize their accomplishments to undertake jobs which differed from 1s they had seen antecedently. ( I say unwilling, as I suspect some of their reserve was due to a deficiency of assurance in their ability to undertake more ambitious inquiries. ) So, while both the twelvemonth 6 student and the twelvemonth 9 students are assessed as working at the same degree, my belief is that the twelvemonth 6 student shows a far greater relational apprehension, while the twelvemonth 9 students show about merely instrumental apprehension. This is supported by findings which indicate â€Å" learning how to go through trials means that pupils may be able to go through even when they do non hold the accomplishments and understanding which the trial is intended to mensurate † ( Gordon and Reese in Harlen, 2006, p79 ) . The two groups come from different backgrounds and different acquisition experiences, so it is non possible to pull any decisions, other than to state that the assignment of degrees would look to give small information sing mathematical apprehension and attainment. It is possible that the twelvemonth 6 student has been encouraged to transport out more self find of mathematical constructs, an activity in which the twelvemonth 9 group were loath to prosecute. It concerns me that students are encouraged to mensurate their accomplishment by being able to click boxes instead than understand and use their mathematics. This leads to the consideration of students ‘ motive – what they want to acquire from their instruction. Motivation to Learn A uninterrupted challenge in all lessons has been promoting students to desire to larn. Pupils frequently ask the inquiry, â€Å" Why do I need to cognize this? â€Å" , and I confess to sometimes happening this a hard inquiry to reply. One of the primary countries I would seek to better in my instruction is my ability to actuate my students to larn, but first I must understand motive. There are two chief types of motive which encourage students to be in lessons ( as defined by Harlen, 2006 ) – extrinsic, where they are motivated by an external end such as deriving a making, and intrinsic, where they are motivated by the end of larning itself. â€Å" Intrinsic motive is seen as the ideal, since it is more likely to take to a desire to go on larning, than larning motivated extrinsically. † ( Harlen, 2006, p62 ) , and â€Å" intrinsic motive is associated with degrees of battle in larning that lead to conceptual apprehension and higher degree believing accomplishments † ( Kellaghan et al. , in Harlen, 2006, p63 ) . So, possibly I could hold used appraisal more efficaciously to increase the intrinsic motive of my students. The work of Harlen, ( 2006 ) identifies possible negative effects of appraisal on student motive, which mostly relate to summative appraisal and judgmental feedback. She besides goes on to depict patterns that maintain motive degrees, including affecting students in self-assessment ( Schunk ) , and the usage of feedback from regular classwork. None of this, nevertheless, leads to a decision that appraisal can assist increase intrinsic motive. Further factors need to be considered in finding whether this is the instance. There is surely grounds that formative appraisal can raise achievement degrees, as identified by Black et Al ( 2003 ) , but I do non believe that is needfully the same as raising intrinsic motive. Increased intrinsic motive is most likely to originate from bring forthing a echt involvement in what is being learnt, and hence lead to a desire to go on that larning throughout life. As Clarke ( 2005 ) claims, affecting pupils in their ain acquisition procedure has had the proved consequence of making life-long, independent scholars. Harlen ( 2006 ) describes two types of involvement – single involvement and situational involvement. Students with single involvement in mathematics will persist more and are likely to accomplish good. Sadly, nevertheless, non all students will hold single involvement. Either signifier of involvement will promote students to be involved in acquisition, so the instructor must try to make situational involvement, for illustration, through games. Having encouraged the students ‘ engagement through situational involvement, non merely will they get down to larn, but they may besides develop single involvement. One of the keys to making situational involvement is guaranting the students know what they are larning and why, and so supplying formative feedback to the student. Hence the importance of formative feedback in making involvement, taking to intrinsic motive. â€Å" no curricular inspection and repair, no instructional invention, no alteration in school administration, no toughening of criterions, no rethinking of instructor preparation or compensation will win if pupils do non come to school interested in, and committed to, larning. † ( Steinberg, in Weeden, Winter, Broadfoot, 2002, p9 ) It appears, hence, to be of critical importance that instructors use formative techniques to increase the intrinsic motive of their students to larn. At the same clip, they should avoid actions which will cut down their intrinsic motive. Decisions There have been several surveies over the old ages sing the impact of appraisal on students ‘ acquisition, notably the work of Black and William, at the abetment of the Assessment Reform Group. These surveies have concluded that for appraisal to raise the criterions of students ‘ attainment it must be used formatively. ( Black et al. , 2003 ) Reflecting upon my ain instruction and my students ‘ acquisition, I must admit that there are many ways in which my pattern can be improved. These include usage of higher-order inquiries, leting for self-discovery of mathematical constructs and leting clip for students to move upon feedback. It is still a duty of the instructor to fix students for external scrutinies, and to describe advancement to interested parties. As such it is necessary to strike a balance between the usage of formative appraisal to back up acquisition, and summational appraisal for coverage intents, but besides to fix students for taking external scrutinies. However, â€Å" There is ample grounds that the alterations involved ( in bettering formative appraisal ) will raise the tonss of their pupils on normal, conventional trials. † ( Black et al. , 2003, p2 ) The expression goes, â€Å" the hog does n’t acquire fatter merely by being weighed † . Harmonizing to Weeden, Winter, Broadfoot, 2002, p36, Formative Assessment could be an exclusion to this regulation. In this peculiar instance, repeated and ongoing appraisal could really assist to better the quality of acquisition, if the information gleaned from the appraisal is used to do it go on. How to cite Current ideas about assessment in mathematics teaching, Essay examples

Case Study on Brand Management of Lego Company

Question: Discuss about the Brand Management for Lego Company. Answer: Introduction: In 2014, Lego group emerged as the largest company in terms of revenue. Many strategies were used by the organization to develop its brand. It was the knudstorp strategy that helped the organization manage its growth and remain sustainable in the market (Andersen et al., 2013). The generic strategy used by the organization is differentiation strategy where the main aim of the organization is to create a valuable product that is different from its substitutes in terms of quality, features, creativity and after sale service. Creation of value for the customers was the top priority of the organization. The competitive strategy used by the organization was a by pass attack strategy. By pass strategy is a strategy where the organization does not directly attacks its competitors but attacks them indirectly. The Lego group of companies established its own retail stores and also started its online retailing and e-commerce. Consumer awareness Consumers are the most important part of an organization. The main target customers of Lego group companies are children of age three to fifteen years. This includes children from both middle and upper class. The customer market is segmented in four categories that is Preschool, pre teen, teenagers and adults. Pre school segment involves customers of age five and below where dolls, figures, and action figures are sold. The pre teen consists of customers aged 6-12 years where construction toys, video games, puzzles and activity games are sold. Teenagers are customer aged 13-18 years where the major concentration on selling sports, video games and outdoor games. Adults are customers that are above 18 years where the concentration is on selling video games and electronic toys (Savolainen, 2015). Consumer awareness is a method of promoting the products sold by the company. There are various promotion techniques that help in increasing the awareness and knowledge of consumers. Making the consumer aware of the product is essential as it helps in increasing the sale and creating a brand image among its customers. Consumer awareness is also the ethical code of conduct that an industry or a firm should follow. Identification of loyal customers of brand is essential for brand awareness and promotion. Creating a brand awareness helps in building a relationship of trust with its customers. This strategy will help the organization survive at time of tough competitions as the loyal customers are less likely to switch over their brand once that trust is build. The main factor used by Lego group is superior quality and creativity and design of the product (Antorini et al., 2012). Various methods and techniques can be used in increasing consumer awareness such as advertisements, television, journals, magazines, posting ads on social media networks such as facebook, posting banners and word of mouth. Promotion of products in world of competition is necessary to stand out in the crowd. It is the customers of Lego group that helped the firm reduce its operation cost and survive competition. Customer loyalty is the most important factor in creation of brand image. The logo of Lego groups attracts the customers from all over the world. Its positioning strategy is that the products can be made in anything possible (Hadida, 2013). Competitive positioning The competitors of Lego group of companies are Leapfrog, Automoblox, Vtech and Mecanno. The aim of the organization is to achieve competitive advantage in entertainment and toy brands and manufacturers industry. The brand loyalty of customers helps the organization achieve competitive advantage. The organization uses the strategy of by pass technique to fight with its competitors in the market (Andersen et al., 2013). The number of competitors is high in the market. Hence the consumers have large choice for consumption. It is essential for the organizations to develop such a brand that gives the customers a nice experience that urges them to stay focused in a particular brand. By pass strategy is a strategy where Lego group attacks the consumers in an indirect way. This includes differentiating the products provided by the company on the basis of superior quality, after sales service, creativity and design of the product and the brand image of the firm. To increase its sale and devel op a brand Lego group has established its own brand stores in various places worldwide. It has also involved in online retailing of products produced by the Lego group of companies. This has helped the company increase its revue and profit and sustain competition. Brand associations The company can use various techniques to promote its brand and increase consumer awareness. The tagline or the slogan of the company plays an important role and acts as a major factor for attracting customers. The tagline of Lego group reads as its what you make it and what is best is best. The concentration of the company is on developing products that are of superior quality. Hence the company ensures that the raw materials used in the production process are of high and superior quality. Building the fans of the products is necessary for positioning and promotion. The customer target and segmentation also plays an essential role for deciding the fans of the products and company (Jensen, 2016). The key competing factors of the company include distribution, packaging, advertising, evolution, price and integration. The key buying factors that encourage the customers to purchase the products are: Quality Safety reputation Certifications Visual aspect Stimulation capability Consumer trends Appearance Durability of the products After sale services The key success factors of the Lego group of companies is its brand name, availability, variety of products that it sells, innovation, brand and product design and the range of accessories. SWOT analysis Strengths: The technologies used at the industry for producing toys are advanced. This helps the company reduce the cost and time of manufacturing. The company has a good brand image and name in both national and international market. The logo of the brand is its main attraction. The consumer loves to consume the product of Lego group due to the quality that it supplies. The company is involved in providing a wide range of products that includes toys, sport games, video games, construction games and other electronic games and products. It should concentrate on increasing its products and diversify its products on online gaming and videos and outdoor sports. The company has its own brand retail stores and an online retailing website. Establishment of its own store will help the organization attract more customers and achieve competitive advantage. The company has its own innovation team that is a team of four members. This helps the company create its worn design and a creative product according to the need of consumers. The company works in collaboration and coordination where the departments are allowed to meet and discuss business ideas. The products help in expanding the education and knowledge of children. It is an iconic brand that provides goods that are of superior quality. The product portfolio is strong. The theme parks by Lego group are a great tourist attraction. The supply chain is efficient. The management of the organization is creative and also its leadership style (Findinge et al., 2013). Weakness The prices of the toys made by Lego group are high due to the raw materials that it uses in its production process. The products that are manufactured by Lego group only attract men and not women. This leads to weak segmentation of the market. The cost of production is high as the company has to pay hefty prices for getting the permission for licensing the media characters. The market for toys is limited in the industry. The main concern is with then limitation of products and brand name. The rise in the competition reduces the market share of the companies. The use of technology is limited. The scope for business innovation is limited due to old establishment of the company. Outsourcing of the product is costly than concentrating on inmate teams. Capital investment is high. Opportunities The Lego group has an opportunity to expand in the international market. Since its requires less capital investment and also the Lego brand is established and famous expanding its business in international market will be an easy task for the organization. The customers of the Lego brand are spread all over the countries. So it will not be difficult for the organization to establish a new consumer market in countries. Growth of the middle class in the developed countries is beneficial for the toy company as it gives an opportunity for the business to expand. The company has an opportunity to diversify its products in other market segments as well. The promotion techniques help the company expand its product to other market segments. Rise in use of technology and advancement of technology is beneficial for the organization. Diversification and promotion can help the company penetrate in new markets. Threats The main threat is from the rise in the number of competitors. The number of competitors is rising that is reducing the market share of the organization. Reduction in the purchasing power of customers will reduce the demand for the products. Digitalization of the world will reduce the demand for toys. Children now a days are more interested in using internet and online games and videos rather than playing with toys. This puts a threat on the company. For this it is advisable that Lego group should launch online games and videos for children that attracts them. It has threats from internet and outdoor games. People are showing more interest on the outdoor activities such as Olympics, badminton and cricket that is making the toys losse its importance. Conclusion The concentration of the Lego group should be on the brand retail stores and online retail stores that it has established. Management of its supply chain channel is also necessary for the timely delivery of the product to the concerned consumers. The focus of the organization is on quality and product innovation. Hence the organization uses various advanced techniques to create innovation and creative products that are attractive for children. Branding is technique of creating a unique brand image of the product or the organization in the entire market or the industry to achieve competitive advantage. The tagline of Lego that says What is Best is Best indicates that the primary focus of the organization is on developing a superior quality brand. This is so done to attract more customers. The organization can use techniques such as involvement of celebrity in promotion of advertisements to attract customers. While launching the toy of a particular character the organization can organi ze stage programme depicting the characters to attract children to purchase the product. Expansion of the Lego group of company is essential to create valuable brand awareness among the target group of customers. The company should diversify its range of products and concentrate more on outdoor games to achieve large economies of scale and competitive advantage. Creating a unique brand image is necessary in the world of competition that can be creates by using various techniques of packaging, distribution, promotion and branding. Lego Company should concentrate on expanding its business. The toys that are made by the company only attract boys. Hence, it is recommended that the company should concentrate on making more toys that attracts girls and women. This includes Barbie dolls, characters of power puff girls and many more items that are an attraction to girls. The organization should capture the opportunities available to them and utilize it for its benefit. Since it has an opportunity to use advanced technologies that are cost saving and also time saving it should us e more of that. Promotion of brands will also help the company create its own brand name. use of social media and internet is recommended for the promotion of products and service that the Lego group provides. References Andersen, P. H., Kragh, H., Lettl, C. (2013). Spanning organizational boundaries to manage creative processes: The case of the LEGO group.Industrial Marketing Management,42(1), 125-134. Antorini, Y. M., Muiz Jr, A. M., Askildsen, T. (2012). Collaborating with customer communities: Lessons from the LEGO Group.MIT Sloan Management Review,53(3), 73. Dinnie, K. (2015).Nation branding: concepts, issues, practice. Routledge. Findinge, C. P., Lehmann, J., Elmi, A., Kjr, L. L., Kristensen, D. E., Breum, A. S., From, P. (2013). The LEGO Group: B135. Hadida, A. L. (2013). Let your hands do the thinking! Lego bricks, strategic thinking and ideas generation within organizations.Strategic Direction,29(2), 3-5. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Jensen, M. (2016).The LEGO Group - About Us LEGO.com.Lego.com. Retrieved 13 September 2016, from https://www.lego.com/en-us/aboutus/lego-group Savolainen, R. (2015). The role of emotions in online information seeking and sharing: a case study of consumer awareness.Journal of Documentation,71(6), 1203-1227.

The Role of Narcissism in Profile Picture Selection Essay Example For Students

The Role of Narcissism in Profile Picture Selection Essay As technology becomes increasingly a major part of our everyday lives, much of our interpersonal communication and interactions occurs online through online networks. Within the past decade, the introduction of social networking sites (SNS), such as Facebook, Twitter, Instagram and LinkedIn, places a new emphasis on first impressions. Instead of engaging in interpersonal communication and forming our own first impressions, an individual’s online profile picture presents a digital first impression, portraying one’s physical appearance, personality and character to their audience. As a society, we are motivated to constantly update, maintain and grow our online presences, gaining more connections, friends and followers via these social networking sites. We will write a custom essay on The Role of Narcissism in Profile Picture Selection specifically for you for only $16.38 $13.9/page Order now Sanja Kapidzic, author of â€Å"Cyberpsychology, Behavior, and Social Networking, from the Institut fur Kommunikationswisschenschaft und Medienforschung in Munchen, Germany, discusses a study regarding the correlation between narcissism and the personalization of online profile portrayal. In this study titled â€Å"Narcissism as a Predictor of Motivations Behind Facebook Profile Picture Selection,† Sanja Kapidzic focuses his research on the relationship between narcissism and the motivation behind self-presentation through profile pictures. By definition, narcissism is â€Å"the pursuit of gratification from vanity and egotistic admiration of ones own physical or mental attributes that derive from arrogant pride.† In relation to the study, narcissism relates to the online self-presentation of individuals with constant status updates or the display of self-promoting pictures pieces of media. Social networking sites allow narcissistic individuals the platform to present their profiles, while placing emphasis on features with the possibility of gaining admiration and attention. In general, the study explores whether narcissism influences an individual’s motivation behind selecting a profile picture for a social networking site. In relation to narcissism, this study looks at motivation with three categories: physical, personal and social factors. Self-presentation plays an essential role in SNS with the choosing of a personal image reflecting yourself, or your Facebook profile picture. Aside from narcissism, the study analyzes motivational factors in selecting a profile picture with gender specific stereotypes about appearances and the incorporation of social ties in the photo. Incorporating previous research, the connection between narcissism and online self-presentation also relates to the personality of the individual. According to the dynamic self-regulatory processing model of narcissism, an individual with a higher level of narcissism has a â€Å"highly inflated, positive self-concept and concern with their physical appearance.† With the addition of SNS now engraved into our daily routines, previous interpersonal interactions now occur online, where narcissists seek personal attention and positive feedback on their online profiles. Taking this previous research into consideration, this study took into account specific variables, such as age, self-esteem and the frequency of Facebook usage. Logistically, the study surveyed two hundred eighty eight college aged, communications students from a large Midwestern university. The participants ranged from age 18 to 25 years old with half men and women. The students were asked to respond to various surveys incorporating the following topics: narcissism, motivation attractiveness, motivation personality, motivation social ties, self-esteem and Facebook use. Each survey consisted of different response rating scales following each individual’s personal preferences and personalities. In response to the data and research questions, narcissism concluded to be a predictor in motivation of selecting pictures based on attractiveness. In comparison to the control variables of age, self-esteem and Facebook use, the hypothesis proved that narcissism is a motivating factor based on the individual’s personality. However, narcissism was not the leading predictor in relation to motivation for social ties or gender differentiation. In conclusion, the study further progressed the link between psychology and social media by connecting the levels of narcissism in the individuals’ online presence. Those individuals with higher levels of narcissism have different intrinsic motivation regarding their online profile than those with lower levels of narcissistic behavior. .uf131124d226db1533cd59ea45c057ba1 , .uf131124d226db1533cd59ea45c057ba1 .postImageUrl , .uf131124d226db1533cd59ea45c057ba1 .centered-text-area { min-height: 80px; position: relative; } .uf131124d226db1533cd59ea45c057ba1 , .uf131124d226db1533cd59ea45c057ba1:hover , .uf131124d226db1533cd59ea45c057ba1:visited , .uf131124d226db1533cd59ea45c057ba1:active { border:0!important; } .uf131124d226db1533cd59ea45c057ba1 .clearfix:after { content: ""; display: table; clear: both; } .uf131124d226db1533cd59ea45c057ba1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uf131124d226db1533cd59ea45c057ba1:active , .uf131124d226db1533cd59ea45c057ba1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uf131124d226db1533cd59ea45c057ba1 .centered-text-area { width: 100%; position: relative ; } .uf131124d226db1533cd59ea45c057ba1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uf131124d226db1533cd59ea45c057ba1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uf131124d226db1533cd59ea45c057ba1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uf131124d226db1533cd59ea45c057ba1:hover .ctaButton { background-color: #34495E!important; } .uf131124d226db1533cd59ea45c057ba1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uf131124d226db1533cd59ea45c057ba1 .uf131124d226db1533cd59ea45c057ba1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uf131124d226db1533cd59ea45c057ba1:after { content: ""; display: block; clear: both; } READ: Essay on The Impact of Social Media Upon RelationshipsThe importance of this study reinforces the research and connection between psychology and the influence of social media in our society. Personality, behavior and motivation are all key psychology concepts that relate to our constantly evolving digital society. As we discussed in class, theories of motivation, such as the incentive motivation theory, also relates to this study. The incentive theory states that we are motivated to receive something in return for our actions. Naturally, people want to be rewarded for an action with some sort of incentive, such as food or money. In this case, individuals who scored higher levels of narcissism are looking for the incentive of â€Å"likes† or social approval. The act of receiving a â€Å"like† or â€Å"comment† on an image or personal status on Facebook drives the desire for the self-promotion and an attractive social presence to their audience. In relation to this article, I thought about my own personal experiences and my social networking sites profiles. As a member of the â€Å"Millennial generation†, I would consider myself to be a â€Å"digital native,† an individual who has grown up surrounded by media and social networking sites. I currently manage multiple social networking sites including: Facebook, Twitter and Instagram. After reading and analyzing this article, I assessed my own motivation in choosing profile pictures or uploading photos, which display my personality and image online. As a result, I agree completely with the idea of connecting this motivation with narcissism. I personally think that everyone encompasses at least some level of narcissism online, where they are motivated to display their best version of themselves. However, some people who may fall higher on the scale of narcissism will post more photos revolving around themselves. For example, a few of my friends on Facebook will spe nd hours editing a photo of them, blurring out imperfections or cropping the right angle to capture their best pose. By taking the time and effort to enhance their photos, their motivation is derived from presenting their most attractive profile picture to their online audience. Instagram is another example of this motivation incentive. Instagram is a social media platform, where individuals can upload photos, add filters and share with their followers. Followers have the opportunity to â€Å"like† their favorite photos. Similar to the Facebook example, people may spend hours choosing the perfect filter to add to their photo, resultantly uploading a brighter and more color enhanced image. Instagram presents a popular platform for the modernized â€Å"selfie† photo, where individuals post photos of themselves in various poses. With the incentive to gain the most â€Å"likes† per photo, individuals who post numerous edited photos present the case for motivational theories and possibly higher levels of narcissism. Aside from Facebook and Instagram, the professional social media platform, LinkedIn, also presents motivation in choosing profile pictures. While deciding upon a profile picture for LinkedIn, individuals seek a more professional appearance of themselves. Although not driven by the incentive for likes, individuals still present a level of narcissism in choosing to present their most professional appearance and demeanor on LinkedIn. The culture of this social media platform revolves around seeking attention and admiration of their photo and professional accomplishment from potential employers. In this sense, individuals all have a level of narcissism, but probably not as strong as adhering to the online presences on other social networking sites. In relation to class discussion, this study connects to the Social Learning Theory and the Psychosocial Theory. The Social Learning Theory, introduced by Albert Bandura, focuses on the three main triadic and reciprocal factors: cognitions, behavior, and environment, which interact and our behaviors. Cognitions involve our skills, knowledge, ability, personal preferences and self-efficacy. Behaviors derive from enactive learning and previous experiences. Environment enforces learning from observational learning from the world around us. As these three factors interact, individuals learn from themselves, others and the surroundings. In correlation to the study, this theory presents reasons why we develop our online behaviors. Living in a society revolving around digital profiles and social networking sites, we are influenced by the online world. Through our learned behavior and the cognition driven by our shifting online culture, individuals inherit a more narcissistic attitude toward their online presence. .u18caa6de087237219914b0e61634ec52 , .u18caa6de087237219914b0e61634ec52 .postImageUrl , .u18caa6de087237219914b0e61634ec52 .centered-text-area { min-height: 80px; position: relative; } .u18caa6de087237219914b0e61634ec52 , .u18caa6de087237219914b0e61634ec52:hover , .u18caa6de087237219914b0e61634ec52:visited , .u18caa6de087237219914b0e61634ec52:active { border:0!important; } .u18caa6de087237219914b0e61634ec52 .clearfix:after { content: ""; display: table; clear: both; } .u18caa6de087237219914b0e61634ec52 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u18caa6de087237219914b0e61634ec52:active , .u18caa6de087237219914b0e61634ec52:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u18caa6de087237219914b0e61634ec52 .centered-text-area { width: 100%; position: relative ; } .u18caa6de087237219914b0e61634ec52 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u18caa6de087237219914b0e61634ec52 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u18caa6de087237219914b0e61634ec52 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u18caa6de087237219914b0e61634ec52:hover .ctaButton { background-color: #34495E!important; } .u18caa6de087237219914b0e61634ec52 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u18caa6de087237219914b0e61634ec52 .u18caa6de087237219914b0e61634ec52-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u18caa6de087237219914b0e61634ec52:after { content: ""; display: block; clear: both; } READ: Media Can Mold the Way Adolescents Think EssayAlong with Social Learning Theory, we focused on Psychosocial Theory in personality development. Psychosocial Theory, introduced by Erik Erikson describes that the development of our personalities are driven by culture. As individuals progress through the stages of development, our personalities are constantly adapting between hereditary instincts and the culture and family environment around us. Referring to the relationship between narcissism and online profiles, this theory presents ideas about how narcissism is developed through self-promoting cultures. With a heavy emphasis on self-presentation in our culture, it is inevit able that personality will develop to match the attitude of the environment. As I analyzed this study, critical thinking played a key role in understanding the main points and connections to psychology concepts. Critical thinking consists of three components: affective, behavioral and cognitive. The affective component refers to emotions. As I focused on the concepts presented in this article, I accepted the truth above my own self-interest. Prior to reading this study, I did not view myself as a narcissistic person. However, after putting aside personal biases, I understand how many people can have narcissistic viewpoints. Through critical thinking, I could accept change and modify my own viewpoints and beliefs on the subject. Following critical thinking, I also explored the behavioral components while analyzing the study. The behavioral components refer to delaying judgments, gathering different types of data and realizing you’re wrong. While reading the study, I delayed judgments until collecting data of my own. Taking the core concepts from the article, I explored online profile pictures that my own Facebook friends selected. As a result, I discovered similar data supported in the study, where many of my female friends selected profile pictures emphasizing physical attractiveness. Comparing my own simple data to the data presented in the case proved to be beneficial in understanding the psychology concepts. Lastly, critical thinking entails the cognitive component. The cognitive component explains thinking independently, using deductive reasoning and applying metacognition to your findings. For this study, I focused on deductive thinking by reasoning from general to specific thoughts. For example, by connecting my own personal experiences to the data presented in the study, I focused on narrowing down from a larger idea into more concise examples. By applying metacognition, thinking about one’s own thinking, I was able to connect the data and psychology concepts to my own choices. Specifically speaking, after reading this study, I will be more consciously aware of my selection process in customizing my online profile picture. What I choose to self-promote in my online photos speaks to a larger audience and conveys certain messages about my personality and my character. In summary, this study focused on the relationship between physical, personal and social factors and narcissism motivations in choosing profile pictures on social networking sites. As the data concludes, narcissism is a predictor in emphasizing physical attractiveness and personality in the motivation of selecting photos. By comparing this conclusion to my own personal experiences on social networking sites, I agree with the statement that narcissism is a motivation factor in portraying a certain image to our online audience. However, it is how we choose to portray our personality and character through visual images that indicates the apparent level of narcissism. Driven by a social networking dominated culture, the motivation to present one’s best self-image online has become innate. In conclusion, if a single profile picture can form a lasting first impression, why not make it memorable? Works Cited Kapidzic, S. (2013). Narcissism as a predictor of motivations behind Facebook profile picture selection. Cyberpsychology, Behavior, And Social Networking, 16(1), 14-19. doi:10.1089/cyber.2012.0143