Friday, October 18, 2019
Wrong Site Surgery Case Study Example | Topics and Well Written Essays - 750 words
Wrong Site Surgery - Case Study Example Structurally, health care sectors lack definite constructs on safety evaluations in patient treatment and interventions; unfortunately, deficits in evaluative efforts to foresee improvements in health teamsââ¬â¢ ââ¬Å"ongoing knowledge, or use of a policy to avert...future adverse eventâ⬠(Michaels et al., 2007, p. 526). Much as the truth hurts, strong commitment in both government and private health sectors are insufficient in fighting for the rights of public to safe and quality health treatment. Admittedly, variety of health organizations are already aware of discrepancies in surgical errors and are now setting guidelines for marking safeguards against negative health impacts of negligence in professional practice. Among the external agencies concerned on quality clinical practices in all medical areas are Healthcare Organizations (JCAHO), the National Patient Safety Initiative, the American College of Surgeons (ACS), the New York State Department of Health (NYS DOH), and the Agency for Healthcare Research and Quality (AHRQ). They are of different organizational team, but are united in setting specific benchmarks that address problems in the surgical environment, especially with rampant errors in wrong-site surgery. In import, clinical monitoring is initiated by JCAHO, series of investigations are conducted on the increasing malpractice complaints and reviewed 150 relevant cases to determine its root causes. Majority (66%) of results are pointed on errors in surgical site (The Joint Commission, 2001). The outcome affirms rising cases of wrong site surgery in clinical institutions. To relieve from government pressures, above-mentioned health organizations generated their own version of clinical practices that address the problems with wrong-side surgery in all institutional categories. Consistently integrated in internal institutional policies, suggested implementation strategies to prevent further surgical damage include ââ¬Å"marking the surgical site and involving the patient in the marking process, creating and using verification checklist...obtaining oral verification of the patient, surgical site, and procedure...by each member of the surgical team, monitoring compliance with these procedures...(and as part of verification) surgical teams consider time-outâ⬠(The Joint Commission, 2001, p. 2). Most consider such actions as universal in protocol, and almost every hospital adapt these as protective program measures for safety and quality surgical interventions. In prudent ways, the multiple dynamics in verification process in pre-anesthesia period, and even prior to actually starting the surgical procedure, through the ââ¬Å"time-outâ⬠process of pausing to review before initiating an incision on the site, seemed prudent strategies to give the surgical team every opportunities to confirm whether the right site had been indicated and marked by the surgeon-in-charge. Subtly, every action denote a number of communi cation patterns, in verbal, written and demonstrative means, that constantly reminds the health team that what they are surgically embarking is clinically appropriate. In such cases, the series of clinical prompts are not enough, especially when internal culture dictates barriers in communication, as extensively translated in overt behaviors from authoritative surgeons down to circulating nurses. In particular, the case sample on an elderly man indicated for left-side biopsy, which ended up as victim of wrong site sur
Thursday, October 17, 2019
Among chronic patients what is the effect of acupunture on the use of Essay
Among chronic patients what is the effect of acupunture on the use of narcotic over 30 days - Essay Example Appropriate tools for conducting the tests and measurement of results should be available. The primary care settings are an important feature in this undertaking (Perry G. F., 2010). Treating chronic pain conditions with long-standing doses or prescriptions of narcotic (e.g., morphine), anti-inflammatory (e.g., ibuprofen), or other anodyne medications may provide a modicum of just a short-term relief. Initial dose titration and for breakthrough pain should limit the role of short-acting opioids. According to pain specialists and physicians, long-acting opiates should be the lynchpin of treatment if narcotics and narcotic treatments are used for persistent pain. The results of studies done raise an important questions when dealing with narcotic prescription; that is, are physicians well trained in treating chronic conditions or how well are they informed about the prescription they are admitting. In implementation of the treatment one take a sample number of patients and prescribe the m with narcotic treatment drugs and non-narcotic drugs to another sample. Having in mind that chronic pain involves more than just transmission of noxious stimuli persistently through the nervous system but also a high culmination of dynamic process and highly elaborate inextricably bound to the suffererââ¬â¢s cognitive, social, psychological and cultural history; it would be essential to create an experimental sample of tests. Administering the drugs in correct intervals to avoid any error within the collected results, and considering the experiment has a time frame a drug like hydrocodone/acetaminophen (7.5/500) can be admitted to the patient twelve times a week; for severe pains. The experiment will use the nonrandomized controlled clinic trails with an adequate number of patients that will of comparable conditions. Efforts should be put in place to consolidate physical education and management guidelines about chronic pains and narcotic medication so as to incorporate it medi cal education and continuing medical training. Evaluation of effectiveness and facets of chronic nonmalignant pains in a patient should be the first evaluation procedure one should undertake before use of narcotic. Also the physician or pain specialist should have the appropriate care and measure tools to conduct the experiments. Understanding the current use and effects of narcotic drugs for chronic pains is also a prior practice the physician should undertake (Perry G. F., 2010). Before measuring the outcome, there should be an already available and clear medical review for the patients. The components of this review include; duration, location type, patterns and intensity of the pain; factors that intensify or reduce the pain; prior and current psychiatric and medical conditions; impacts of the pain on mood, functioning and sleep; the patientsââ¬â¢ expectations of treatment; the previous use and prescription of pain medications; social environment description of the patients; patientsââ¬â¢ history including the physical examination of both the patient and family history. After conduction the above measures then the medication is done, and within the specified period of 30days the results are collected and represented with tables and graphs if possible. From this information collected, the following outcomes will be measured; amount of prescription of the drug; also patient behavior after the medication, the
Forces of magnetism Assignment Example | Topics and Well Written Essays - 250 words
Forces of magnetism - Assignment Example Setback for magnet program occurs when hospitals lack the unison in rendering of these services to all hospitals. Programs for private and public nursing institutions do not operate at different policies. Good communication between the administration and the nurses lacks as there is no consultation in making of decisions. Endorsement of nurse empowerment goals is not successful as a result of high handedness where a nurse was fired for leading a drive for magnetic status. Changes at the hospitals leads to short-staffing and exclusion of nurses from decision making. There are complaints that the program is not monitoring compliance effectively and is used as a tool for promotion. Magnet hospitals lack improved working environment than non-magnetic hospitals (Nather, 2010). Lack of accomplishment of magnetic forces policies in hospitals or organizations will lead to enhancement of hospital policies to care for and support nurses. These policies include: zero tolerance for abuse of measures and practices, addressing nurse exhaustion adequately. Cases of assault and sexual harassment of nurses at hospitals should be pursued. Each institution should have suitable lifting equipment and no lift policies. Patient assignments in admission and discharge ought to count as 2 patients to account for the high death connected with bed turnover. Magnet hospitals ought to have needless IV systems and protected needles for safety in rendering of services (Chotaw,
Wednesday, October 16, 2019
Among chronic patients what is the effect of acupunture on the use of Essay
Among chronic patients what is the effect of acupunture on the use of narcotic over 30 days - Essay Example Appropriate tools for conducting the tests and measurement of results should be available. The primary care settings are an important feature in this undertaking (Perry G. F., 2010). Treating chronic pain conditions with long-standing doses or prescriptions of narcotic (e.g., morphine), anti-inflammatory (e.g., ibuprofen), or other anodyne medications may provide a modicum of just a short-term relief. Initial dose titration and for breakthrough pain should limit the role of short-acting opioids. According to pain specialists and physicians, long-acting opiates should be the lynchpin of treatment if narcotics and narcotic treatments are used for persistent pain. The results of studies done raise an important questions when dealing with narcotic prescription; that is, are physicians well trained in treating chronic conditions or how well are they informed about the prescription they are admitting. In implementation of the treatment one take a sample number of patients and prescribe the m with narcotic treatment drugs and non-narcotic drugs to another sample. Having in mind that chronic pain involves more than just transmission of noxious stimuli persistently through the nervous system but also a high culmination of dynamic process and highly elaborate inextricably bound to the suffererââ¬â¢s cognitive, social, psychological and cultural history; it would be essential to create an experimental sample of tests. Administering the drugs in correct intervals to avoid any error within the collected results, and considering the experiment has a time frame a drug like hydrocodone/acetaminophen (7.5/500) can be admitted to the patient twelve times a week; for severe pains. The experiment will use the nonrandomized controlled clinic trails with an adequate number of patients that will of comparable conditions. Efforts should be put in place to consolidate physical education and management guidelines about chronic pains and narcotic medication so as to incorporate it medi cal education and continuing medical training. Evaluation of effectiveness and facets of chronic nonmalignant pains in a patient should be the first evaluation procedure one should undertake before use of narcotic. Also the physician or pain specialist should have the appropriate care and measure tools to conduct the experiments. Understanding the current use and effects of narcotic drugs for chronic pains is also a prior practice the physician should undertake (Perry G. F., 2010). Before measuring the outcome, there should be an already available and clear medical review for the patients. The components of this review include; duration, location type, patterns and intensity of the pain; factors that intensify or reduce the pain; prior and current psychiatric and medical conditions; impacts of the pain on mood, functioning and sleep; the patientsââ¬â¢ expectations of treatment; the previous use and prescription of pain medications; social environment description of the patients; patientsââ¬â¢ history including the physical examination of both the patient and family history. After conduction the above measures then the medication is done, and within the specified period of 30days the results are collected and represented with tables and graphs if possible. From this information collected, the following outcomes will be measured; amount of prescription of the drug; also patient behavior after the medication, the
Tuesday, October 15, 2019
Coursework Lesson Plan. Games Example | Topics and Well Written Essays - 1500 words
Lesson Plan. Games - Coursework Example Personal Aims: To improve how I give my teaching instructions by incloding a free speeking activity in my lesson. Anticipated problems for students: Little understanding of the type of a game i will chose for the activate stage of my lesson. Solution: Giving detailed instruction on the game and offering my students a rehearsal before the actual event. Anticipated problems for teacher: Having some of the students being afraid of speaking out their ideas and thoughts throughout the lesson. Solution: Starting with the whole class pronunciation of ideas and thought, then to the group work pronunciation of thought before coming to the individual level pronunciation. Procedure Phase Timing Interaction Showing my students some pictures on cartoons that are describing certain activities and then telling my students to come up with ideas of what is happening on those pictures, what had happened before and what is anticipate to happen after. Engage 10 Mins T-S Show the student a magazine extra ct with speech bubbles and description boxes describing the activities on each of the pictures and explain to them the difference between the speech bubbles and description boxes. ... Study 5 Mins T-S Put students into five groups and give each group a series of four pictures and require them to discuss the activities taking place in those pictures within their group and create discription boxes with the information they come up with and then select one of their members to present it to the whole class. Activate 10 Mins S-S Give the student cartoon pictures with description boxes but with no speech bubbles and tell them to give their ideas and thoughts on the communication that is taking place on those pictures. Study 5 Mins T-S Discussing with the students the different ideas and thoughts about the communication they can perceive from the pictures. Study 5 Mins T-S Putting students into five groups using a criteria different from the one previously used to ensure that each group ends up with a different set of individuals. Give this group a set of pictures with unfilled speech bubbles but with description boxes fully filled and require them to discuss among thems elves what to put in the speech bubble and after that they should choose one person to represent their discussion to the whole class Activate 10 Mins S-S Task 9 Additional Issues to Be Considered for a Writing activity Various additional issues should be considered for a writing activity of any kind. One of these issues is the planning and arrangement of thoughts. According to VanderMey et al (2012), this involves selecting a topic to write about, determining and analyzing audience, determining focus and purpose of the writing activity, generation of ideas and organizing thoughts. This issue requires the person doing the writing to apply a lot of creativity and to be very cautious and analytical. If this issue is not handled well, we can end up having a piece of writing that does
Monday, October 14, 2019
Indian Luxury Consumer Essay Example for Free
Indian Luxury Consumer Essay The Indian Luxury Consumer: Rapidly maturing and looking for more Any study of the luxury market needs to conclusively address core questions around the luxury customer Who, What and Where. To fully understand answers to these questions, we interviewed existing and prospective customers across various locations, income and age groups. We also interviewed industry leaders across all luxury categories on the Indian consumer and the changes that they have observed over the last few years. In this section, we shall provide answers to three basic questions: 1. What constitutes luxury in India? 2. Who is the luxury consumer? What has changed in the last 2-3 years? 3. How is the behavior of the luxury consumer changing? 4. What are their specific tastes and preferences? 5. Where do they make their purchase? Luxury in India ââ¬â more aspirational luxury than ultimate luxury Industry leaders across categories believe that luxury is not only determined by price. Exclusivity is a far more important parameter for a product or service to be called luxury. As such customization, uniqueness, and even understatement is important. Design, use of exquisite materials, presentation and personalized service all contribute to luxury. Consumers also talk about exclusivity, uniqueness and appeal to personal taste. This is not as yet corroborated by increased sales of ââ¬Å"ultimate and subtleâ⬠luxury products. The majority of the market is still far away from this definition and brand/logo/badge value drive luxury purchases very clearly. Size, flashiness, clearly visible logos, well known brand are the key considerations in the purchase. That said, traditional attributes such as high quality, heritage, longevity, the ââ¬Å"storiesâ⬠associated with brands are beginning to emerge as drivers of purchase. Bulk of the Indian market is still dominated by the more accessible and aspirational luxury products. Status ââ¬â announcing your arrival into the elite segment of the society ââ¬â is the biggest motivation still. The mindset is still that of an ââ¬Å"aspirerâ⬠not that of a ââ¬Å"connoisseurâ⬠. The Indian luxury consumer new insights The Indian luxury consumer has been studied a few times now. Various segments have been identiofied by earlier studies. The old money/new money/gold cuffs/.. (Luxury Brands) and Industrialist/Corporate/Professional/ (Economic Times ââ¬â A. T. Kearney India Luxury Review 2007). The focus of our consumer research was to find out how the consumer has evolved in the last 3-4 years. The accepted wisdom is that industrialists and traditionally wealthy families is the largest segment, senior corporate executives are a smaller but emerging segment and young professionals are entering the market. Our research has shown that by and large the consumer segments that constitute the bulk of the market have not changed significantly, although finer sub-segments are now more apparent: Medium size enterprise owners: This is the largest segment in terms of number these are typically the medium enterprise owners ââ¬â industrialists and traders who run businesses with revenues upwards of 50 cr. The source of their spending is the surpluses generated by the business. Many of these have grown as the economy grew rapidly in the last twenty years. Their wealth is their passport to the elite segment of the society and conspicuous consumption is their way of announcing it to the society. The children who tend to be second or third generation are the bigger spenders, having been educated abroad and hence familiar with brands and the luxury way of living. They are now educating and enticing their more conservative elder generation into spending. Interviews also reveal that those who generate cash need to necessarily spend it and luxury goods are a good avenue for spending. These are very frequent luxury consumers and consume the entire gamut of products and services and some assets like cars and real estate. These consumers shop around for deals and bargains, including international travel. Traditionally wealthy families / large industrialists: This group comprises two sub-segments ââ¬â the first is the traditionally wealthy families ââ¬â who have been consuming luxury for several decades and go for the finer things in life. The largest business houses in the country and historically wealthy Marwari, Gujarati, Parsi, Punjabi families epitomize this class. The other sub segment comprises the promoters of some very large businesses which have come up in the last two decades and have created disproportionate wealth very quickly. Builders, miners, diamond merchants, stock brokers, new age enterprise owners fall in this category. Many of them have migrated to the highest ladder of luxury consumption very quickly by acquiring yachts, jets, houses and really expensive cars. Corporate executives: Senior executives of corporate India who are paid in excess of Rs. 1 crore and bankers who earn big bonuses epitomize this category. These executives are well traveled and are aware of brands. Most of these are in their mid-late forties and represent some of the brightest minds in the country. Many of them though have come from middle class backgrounds and hence have a conservative approach on conspicuous spending. While they can well afford to spend, their propensity to spend is low. A gradual change is being seen as they see more and more of their compatriots spend. These consumers spend on some luxury products such as watches, accessories, select apparel, fine dining, international and domestic travel and high end cars. They also tend to shop on their frequent international trips to get the best deals. Self employed professionals: These comprise of professionals such as lawyers, doctors and architects: A small but niche segment, comprising the top stars in their profession, who have made it big. While many of these come from middle class backgrounds, they use their new found wealth to live a good life. They shop for the entire range of products and services although are found less often at the absolute top end of the ladder. Young professionals: Working in service industries ââ¬â these earn the least compared to the others, but since they donââ¬â¢t have family responsibilities, the disposable part of the income is high. They are in tune with the latest fashion trends, travel abroad once in a while and believe in spending on what they fancy. They tend to consume entry level products and are infrequent consumers. Other segments: Expatriates: Expatriates in the country are growing and they are staying for longer periods: These are on expatriate packages and are accustomed to luxury consumption in other parts of the world. However most of these fly back very frequently and stack up on their luxury products need on these trips. Luxury services and assets (mostly cars) are influenced in a small way by this segment. The segment is definitely driving the increasing awareness and need for luxury products Politicians and bureaucrats: Interviews reveal that politicians and bureaucrats are a large segment for all luxury products, but have a much more pronounced preference for jewellery, watches, cars and real estate. Contrary to the popular perception that is generated by the flashy lifestyles of film and television actors, they are not large spenders by themselves and collectively it is still not a large segment. Luxury consumption of film and TV stars is paid for by the producers. They alsoi shop abroad a lot. Many celebrities belong to rich business families and owe their luxury consumption to their family wealth or get a lot of luxury products as gifts. Citywise sub-segments: There are sub-segments in each city that drive most of the purchases: * Mumbai stock brokers, diamond merchants/exporters * Delhi ââ¬â industrialists, traditionally wealthy, politicians, bureaucrats * Chennai ââ¬â traditionally rich, industrialists * Bangalore ââ¬â builders, IT top brass * Kolkata ââ¬â traditionally wealthy Marwari businessmen, traders Age profile. The average consumer is still young ââ¬â between 30-45. This is in line with the overall demographics and is expected to stay that way for some time. It is thus a young luxury market in contrast with some of the mature markets like Europe and the USA where the average consumer is much older (need some data here). Consumer Behavior We found that while the average Indian luxury customer values High Quality, Exclusivity and Social Appeal as key drivers of luxury purchase, they are also very Price Conscious and often straddled with a ââ¬Å"middle-class mindsetâ⬠. Corporate Professionals in particular tend to be more price sensitive than the Traditionally Wealthy and Business Owners. This is also due to the fact that the average ââ¬Å"fashion consciousnessâ⬠of Indian consumers is still quite low ââ¬â most consumers prefer ââ¬Å"well knownâ⬠brands and make luxury purchases for ââ¬Å"brand valueâ⬠and not ââ¬Å"fashion valueâ⬠. The table below summarises the typical behavior patterns of the consumers in each of the segments | Medium Size Enterprise Owners| Traditionally Wealthy Families Large Industrialists| Corporate Executives| Self Employed Professionals| Young Professionals| Average Age| | | | | |. Awareness| Low| High| High| Medium| High| Fashion consciousness ( apparel and accessories)| Low| High| Low| Low| High| Price Consciousness| High| Low| High| Very High| Very High| Badge Consciousness| High| Medium-Low| High| High| Very High| Propensity to buy overseas| High| High| High| High| High| Greater awareness rapidly increasing and the entry of brands, development of malls and magazines has helped. Compared to three-four years ago, the number of people who can correctly pronounce Chanel and Gucci correctly has increased dramatically, although there is still a long way to go. What is interesting to note is that the Indian luxury customer is maturing rapidly and brand awareness has increased significantly over the past 3-5 years. Brands are beginning to see loyal customers who have their preferred set of brands. Among brands, the pedigree of a brand is very important. There is a heritage value with luxury brands ââ¬â customer typically put more value on brands that have been around for many years. When it came to Indian brands, there is clearly a mixed perception. While most customers were willing to purchase luxury services from Indian players, the luxury products market still has a long way to go. Specifically in services, Indian service quality is considered to be at par with the best in the world. Within products, the categories that customer preferred have a high class value attached to it. Hence very select categories like jewellery and Indian designer apparel products are considered ââ¬Ëluxuryââ¬â¢. Fashion consciousness ââ¬â changing very fast, dressing for a look increasing in the metros ââ¬â still a long way to go ââ¬â in the words of one of the luxury fashion CEOs Indians are ââ¬Å"sartorially challengedâ⬠. The younger members of the rich families and the young professionals are leading are leading the pack. Badge consciousness ââ¬â continuing, no doubt. A logo is probably the most important thing about a product. It is easier to sell a pair of sunglasses or a polo shirt where the logo is clearly visible than a shirt where it is not so obvious. Price consciousness ââ¬â here to stay. The entire industry acknowledges this and both the principals and the Indian parties strive hard to match prices to make it price neutral for the Indian consumer who would not mind taking a flight to Singapore or Dubai or ask someone to get it, if the difference is more than 3-5%. The economics is simple ââ¬â its costs 15-20,000 for a return trip (economy of course! ) to Dubai or Singapore. On a product costing upwards of Rs. 200,000, this is less than 10% of the product price. That puts a limit on the amount of premium that anyone will be willing to pay for products that can be easily purchased overseas and carried back. The grey market will willingly carry products for a fraction of the cost of a return trip. The only exception is cars ââ¬â where it is not possible to bring it in ââ¬â either legitimately or smuggled. Propensity to buy overseas ââ¬â reducing but still very significant. One interesting observation is that Indian luxury customers are not averse to buying from India, just that they feel there are better avenues abroad. One of the key challenges is to provide luxury shopping destinations that offer a variety of brands under one roof. While most of them purchased from boutiques in New York or Malls in Dubai, in India there are not many avenues for luxury purchase. While most consumers also make luxury purchases in India, shopping abroad is still by far the preferred option. Consumers have certain perceptions about luxury shopping in India, that have held them back making large scale and frequent purchases in the local market. Interviews with industry leaders reveals that the consumer wants the same package here ââ¬â merchandise (range, freshness), convenience (location), price and experience (ambience, service) ââ¬â with an extra expectation of service, given that this is India, where labor is cheap. The development of the Indian duty free has meant that Indians have an option of buying duty free products in India when they arrive rather than carting it all the way from popular shopping destinations overseas. Consumers still believe that the widest, most recent range is not available here and that prices are more expensive here, though at least two of these clearly are myths that need to be broken. In fashion, collections are designed for the whole world once, no one creates separate collections for India and old collections are not available. Width of range is a trade-off that has to be made depending on the depth of the market, so that is a possibility. Converting the overseas market is a big challenge for retailers. Propensity to buy from the grey market ââ¬â by all accounts, this is reducing in established brands. Concerted efforts by players to bring in the latest merchandise, efforts by brands to supply products at lower prices to India and Indian retailers willing to work on thin margins has meant that the consumer now gets a good bargain. New brands which consumers want and are not available find their way through this channel. Driver of Luxury consumption: Number of HNIs, HNI Wealth or Household Income? It is generally accepted that luxury market size is positively correlated to household income (GDP/capita), the number of high networth individuals and/or their wealth. Discussions on luxury are never complete without a reference to these parameters. A correlation between the size of the luxury market, the GDP/capita, number of HNIs and HNI wealth over the years 2004-2009 shows that in terms of importance the number of high networth individuals is the most important driver, followed closely by GDP/capita and HNI wealth. Interviews with leading luxury brands in India points to the fact that family wealth is a very strong determinant of spending than household income. Consumer interviews with traditionally wealthy families indicates a very interesting pattern ââ¬â they are habitual consumers of luxury and less price conscious. Some of the segments mentioned above would fall in the HNI category. However luxury consumption in India is not limited to only the HNIs. The masstige phenomenon can be observed very clearly in India. Luxury products in India are appealing to, and purchased by, middle-class consumers that do not fit the typical profile of an elite consumer segment. For these shoppers, luxury represents status and prestige, a place in society that they fit into as a result of their purchase of high-end products. This phenomenon is observed even in the large mature markets such as UK, where a large number of individual consumers buy very small volumes. Luxury goods companies develop products that re-enforce the ââ¬Å"masstigeâ⬠and drive volumes. As such it is very important to look at the other indicator of the market ââ¬â the GDP/capita. In India given the fact that wealth is being created due to the rapid growth, growing household incomes are converting the middle class into emerging luxury consumers. As such there is a large segment (below the 1 cr income category) where while the wealth might be low, it is the incomes that are driving the consumption. Measured in PPP terms, 25 -100 lakhs in India is equal to $ XX-YY,000 of income in the US or EUR AA-BB,000 in Europe, which is definitely a luxury consumer. The above two factors combine to make the consumer spectrum in India very broad. Our research shows that sporadic/ infrequent luxury consumption for products and services begins when annual household income goes upwards of Rs. 20 lakhs, becomes frequent when annual household income crosses the Rs. 1 crore mark and becomes habitual when the wealth crosses the HNI milestone ($1 mn in liquid assets). For luxury assets, the markers are understandably much higher and even within assets, the ladder become quite steep as one goes higher. For example, consumer for private jets would be the top 200-400 richest families in the country ââ¬â the billionaires, super rich families (the HNIs) ââ¬â anywhere around 200-400 families ââ¬â such as the private jets, yachts and the largest houses ââ¬â earning anywhere upwards of 50 cr per annum or with family wealth in excess of 100 cr. The spectrum thus begins at rupee millionaires and goes all the way to real billionaires. While the small traditionally super wealthy families who know what absolute or real exclusive luxury means, and can be called connoisseurs, bulk of the incremental wealth generation in India has been the the handiwork of new age businessmen/industrialists who were not so wealthy a couple of generations ago. As the ââ¬Å"new moneyâ⬠matures, one can expect that the tastes and preferences will also evolve. | | Rupee Millionaires| Near Millionaires| Real Millionaires| Category| Household Income| 10-25 lakhs| 25 lakhs ââ¬â 1 cr| 1-5 cr| 5 cr+| | Networth/Wealth| | | | |. Estimated number of households| 2,373,000| 1,292,000| 141,000| Typical Occupations| Service Industry professionals| Corporate Executives, Self Employed Professionals| Medium Enterprise OwnersTraditionally wealthyCompany CEOs, top bankers| Large IndustrialistsTraditionally wealthy| Luxury products| Low ticket value items such as leather accessories ties, cuff-links,Wines and spirits, personal care| Watches, some apparel, accessories| All| All| Luxury Services| Spas, Infrequent fine dining| Travel, frequent fine dining, hotels, spas| All| Luxury Assets| | | Cars, YachtsReal estate, Paintings| Private jets|. Geographical distribution of consumers Luxury consumption in the country has so far been concentrated in Delhi and Mumbai with Bangalore being a distant third. Brands have been thinking of expanding their footprint beyond these cities and have been wondering about where their next store should be opened. We now believe that the distribution of the rupee millionaires is a good indicator of the luxury consumer distribution in the country. We also believe that for luxury consumption to take off a minimum critical mass is needed in a city. While Delhi and Mumbai continue to be the mainstay markets for luxury consumption, there are several other cities with a large base of potential luxury consumers. A look at the figure below suggests that while Mumbai, Delhi and Bangalore are the top three cities, other cities also have significant potential for luxury consumption. Show a chart between the number of families (X-axis) and the growth 2006-2009 (Y-axis) and number of such households as the bubble size. Use the data below. Year| 2006-07| 2009-10| | Income Category| Annual income Rs. 10,00,000/-| CAGR| Top 20 Cities ranked on the basis of Annual Market Size| Number of Households| Number of Households| | Delhi| 132,258 | 348,000| 38%| Mumbai| 98,164 | 347,000| 52%| Bangalore| 101,550 | 126,000| 7%| Thane| 69,658 | 137,000| 25%| Pune| 57,130 | 106,000| 23%| Chennai| 28,025 | 109,000| 57%| Ahmadabad| 45,224 | 91,000| 26%| Hyderabad| 26,670 | 69,000| 37%| Surat| 34,457 | 60,000| 20%| Coimbatore| 18,076 | 37,000| 27%| Salt Lake (Urban Areas in North 24 Parganas district)| 14,373 | 65,000| 65%| Kolkata| 15,790 | 94,000| 81%| Thiruvallur| 17,837 | 22,000| 7%| Lucknow| 20,654 | 29,000| 12%|. Jaipur| 27,011 | 21,000| -8%| Vadodara| 22,911 | 53,000| 32%| Nagpur| 23,637 | 46,000| 25%| Kancheepuram| 13,920 | 24,000| 20%| | 767,345 | 1,784,000 | 32%| Source: Indicus Analytics| | | | Extrapolating the growth rates seen in these cities, over the next 3 years implies that several new cities will become potential centres of luxury consumption. Kolkata, Chennai, Hyderabad, Pune, Vadodara are high potential destinations to watch out for. A quick comparison with China shows that there are atleast 20 cities/towns where luxury brands are present. Comparison between luxury stores in India and China. | LV| Burberry| Chanel| Hugo Boss| Beijing| 3| 2| 2| 9| Shanghai| 3| 2| 5| 5| Other Tier I| 6| 6| 0| 8| Tier II| 12| 10| 1| 22| Others| 11| 13| 0| 43| | LV| Burberry| Chanel| Hugo Boss| Mumbai| 2| 1| -| 1| Delhi| 2| 1| 1| 1| Bangalore| 1| 1| -| 1| Others| -| 1| -| -| We believe in the next 5-7 years, atleast 5-7 new towns will get added on the luxury map of India. We also believe that the potential in Delhi and Mumbai has not been fully exploited and that there exist a few more micro markets within these cities that need to be tapped. Pockets of wealth and good infrastructure could be the next big destinations. In Mumbai, South Mumbai, Central Mumbai, Bandra/Juhu, Powai and Thane are micro markets which are far enough from each other, have concentration of wealthy families and decent infrastructure. In Delhi, similar micro markets could be South Delhi, Gurgaon, Saket, â⬠¦.. In summary, while the Indian luxury market is evolving, so is the luxury customer. Understanding the nuances of the customer is extremely critical to succeed in this dynamic industry.
Sunday, October 13, 2019
Conflict in the play A Rising in the Sun by Lorraine Hansberry Essay
Conflict in the play A Rising in the Sun by Lorraine Hansberry In "A Rising in the Sun" (Lorraine Hansberry) we find three main conflicts within the play. These conflicts are interrelated and emerge mainly from one primer issue ââ¬â Racism. In this essay, I will highlight these three conflicts and explain their connection. First, I will explain the conflict of family. Second, I will explain the conflict of money. Third, I will explain the conflict of racism and how the first two could be seen as a "by-product" of it. Lena (Mama) recalls her late husband words. Family was the most important thing for Lena and him. However, there are conflicts around this issue which could be seen through three generations. First, present generation Vs past. For example, Walter Lee blames his failure in life partly on his mother's "lack of support". The conflict appears since the only person who could be blamed for the situation is Walter Lee himself. Second, present generation Vs present. For example, Beneatha and Walter Lee fight over the check and its utilization. The conflict appea... Conflict in the play A Rising in the Sun by Lorraine Hansberry Essay Conflict in the play A Rising in the Sun by Lorraine Hansberry In "A Rising in the Sun" (Lorraine Hansberry) we find three main conflicts within the play. These conflicts are interrelated and emerge mainly from one primer issue ââ¬â Racism. In this essay, I will highlight these three conflicts and explain their connection. First, I will explain the conflict of family. Second, I will explain the conflict of money. Third, I will explain the conflict of racism and how the first two could be seen as a "by-product" of it. Lena (Mama) recalls her late husband words. Family was the most important thing for Lena and him. However, there are conflicts around this issue which could be seen through three generations. First, present generation Vs past. For example, Walter Lee blames his failure in life partly on his mother's "lack of support". The conflict appears since the only person who could be blamed for the situation is Walter Lee himself. Second, present generation Vs present. For example, Beneatha and Walter Lee fight over the check and its utilization. The conflict appea...
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