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Showing posts from October, 2024

Capitalism

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  CAPITALISM Capitalism refers to an economic and political system, wherein the private individuals own and control the country’s factors of production (land, labour, capital) for making a profit. In finer terms, private property is the essence of a capitalist economy and profit works as a motivation here. Under this system, the government does not intervene in the management of economic affairs. The capitalist enterprises carry out production activities, wherein the private owners freely operate their business, as per their will, such as: ·         Where and how much to invest ·         What, how and how much to produce ·         At what prices, goods and services are offered for sale. Capitalism is the oldest social system, which is still prevalent in many countries of the world like United States, Australia, Canada, Mexico, Italy, France and many more. It is also ...

Digital Insurance

  Digital Insurance E-insurance utilizes the internet and related IT technologies to create and distribute insurance services, providing several benefits. These include the collection of reliable and cost-effective information, quicker policy issuance and claim settlements, more flexible pricing and tailored services, and the introduction of innovative business practices. E-insurance also offers global access, boosts sales without the need to expand the sales force, enables immediate premium collection and fund transfers, lowers the cost of transactions, and provides constant access to information, supporting real-time development of a knowledge base. To further bridge the gap between traditional and digital insurance, intranets and extranets connect different offices and external partners, respectively, allowing for seamless internal and external communication. The internet plays a crucial role in creating new opportunities for forums and services accessible to all. Despite a s...

India’s Economic Growth by Tata Group Contribution

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  INDIA’S ECONOMIC GROWTH BY TATA GROUP CONTRIBUTION             The Tata Group, under the leadership of Ratan Tata and his predecessors, has had a profound impact on India's economic growth and industrial development. As one of India’s largest and most respected business conglomerates, the Tata Group has played a crucial role in several key areas of the economy, contributing to job creation, infrastructure development, technological advancement, and global trade. Below are some of the major ways Tata Group has influenced India’s economic growth:   1. Job Creation and Employment Tata Group is one of India’s largest private-sector employers, with over 935,000 employees across various industries. The group’s diverse businesses, ranging from steel and automobiles to IT services and retail, have created millions of direct and indirect jobs over the decades. The group’s presence in rural and semi-urban areas h...