Marijuana Use Cannabis For Recreational Purposes - 1977 Words

Background information Cannabis has been used for medical, recreational, and industrial purposes for many years. Cannabis plant is used in some countries for religious rituals, for example, in Nepal and India people have used cannabis in their religious rituals a practice that was started many years ago (Joffe and Yancy 51). The twentieth century has seen many countries around the world enact laws, which criminalizes the sale, use, and possessing cannabis. By the fall of the year 1905, twenty-nine states around the world had enacted laws that mention cannabis. In the year 1925, the International Opium Convention banned the exportation of cannabis from been exported producing countries like India to other countries around the world that prohibited its use (Mikos 663). The twenty first century has seen some states in the United States such as Colorado and Washington as well as some countries like Uruguay enact laws that legitimize the use cannabis for recreational purposes. In the present time, cannabis takes the lead as the most used illegal drug world over (Khatapoush and Hallfors 98). The illegalization of the drug was orchestrated by its perceived negative effects not only to the health of the user, but also to that of other and to the global economy. However, the criminalization of this drug has given rise to a heated debate. Many religious bodies, activists, and politicians have thrown their support behind the cannabis criminalization over many years. However, the clearShow MoreRelatedThe Legalization Of Marijuana And Marijuana Essay1314 Words   |  6 PagesMarijuana or Cannabis is one of the bused drugs in America and the rest of the world. Interesting accumulating evidence show that the significant negative impact of this drug outweighs t he positive effects. However, the medical benefits of the drug seem on the process of chemical compounds as compared to the drug itself. Medical debates show that chemical compound in marijuana are the problem as compared to the plant. The said chemical compound affects the mental and physical health of the personsRead MoreMarijuana Should Be Legal For Medical Use Essay916 Words   |  4 Pagesmedicinal benefits of cannabis. Then I will describe recreational use of marijuana and the acute effects it has. I will then examine the laws of my home state of Illinois on the legalization of medicinal marijuana and the amounts allowed to be dispensed to a patient. Lastly I will provide my position on marijuana and support my stand with a solution from a scholarly source. Medicinal The debate over the legalization of marijuana is a hot topic. The first question is whether marijuana should be legalRead MoreShould Marijuana Be Legalized?1581 Words   |  7 Pagessince the late 1900’s, the legalization of marijuana has been a popular topic within the past couple of years. This topic is very controversial due to the fact that many people are unable to see past the bad rap that cannabis has accumulated over past years. Among the other aspects that have already given marijuana a bad reputation, some people are trying to find more and more reasons to postpone the legalization of marijuana. Since the legalization of cannabis in Colorado, Washington and Oregon theRead MoreShould Marijuana Be Legalized?1489 Words   |  6 PagesThe cannabis plant or marijuana is intended for use of a psychoactive drug or medicine. It is used for recreational or medical uses. In some religions, marijuana is predominantly used for spiritual purposes. Cannabis is indigenous to cent ral and south Asia. Cannabis has been scientifically proven that you can not die from smoking marijuana. Marijuana should be legalized to help people with medical benefits, economic benefits, and criminal benefits. In eight states, marijuana was legalized for recreationalRead MoreShould Marijuana Be Legalized?1269 Words   |  6 PagesLegalizing Marijuana Marijuana is most commercialized drug in the world, so why not just legalize it? Although there are legal restraints against marijuana, 1 in 3 Americans have tried it, out of curiosity at least once. Multiple studies have proven that, marijuana is psychologically and physically healing. Medical marijuana should be legalized for its beneficial advantages, such as, treating or preventing health conditions, increases in tax revenues, and improvements in our communities. Marijuana, mostRead MoreMarijuan The Pseudo Gate Way Drug924 Words   |  4 Pages Marijuana: The Pseudo Gate way Drug My thesis states that the federal government of United States of America should legalize marijuana. Legalizing would not only benefit the people of need for medical uses but also our economy for recreational use. In the year of 2014 the state of Colorado was the one of the first few states to legalize the use of recreational marijuana. Colorado retailers sold $386 million of medical marijuana and $313 million for purely recreational purposes (Ingraham). WithinRead MoreWhy I m For Recreational Use Marijuana1062 Words   |  5 PagesThroughout history, the perception of marijuana for recreational has been misguided by many. If we look at prior research, compare it to other drugs, some may argue that it is not a dangerous drug, and can be of great use. The purpose of this present discussion is to show an understanding of why I’m for recreational use of marijuana. Secondarily, the goal of this paper is to discuss the argument for and against the utilization of this drug. In this article, assuming the role of the Governor of NewRead MoreAdvocation for Legalizing Recreational Marijuana1332 Words   |  5 PagesLegalizing Recreational Marijuana A controversial topic often being advocated for by sitting governors is whether the legalization of marijuana is more beneficial or harmful to the economy. Marijuana, also known as weed, is a mixture of the dried and shredded leaves, stems, seeds, and flowers of the cannabis sativa plant. It’s the most widely used illegal drug in the United States, even though studies have shown results that the benefits of using marijuana for medicinal or recreational reasons farRead MoreAlternative Course Of Action :1355 Words   |  6 PagesAlternative course of Action: A. Alternative #1 – Do nothing and keep current legislation When it comes to medicinal cannabis and its regulation, we have the chance to keep the current legislation. This would include requiring potential patients to visit a certified doctor or practitioner in order to receive an official license. After obtaining this license the patient can then take their license into the government distribution facility . Once they have taken it in, the dosage will be confirmedRead MoreShould Marijuana Be Legal?864 Words   |  4 PagesCannabis, also known as marijuana among other names, is a preparation of the Cannabis plant intended for use as a psychoactive drug or medicine. Marijuana smoking remains the most prevalent form of illicit drug use in the United States and has even been legalized medicinally in twenty-four states. Four of these states, including Colorado and Washington, have legalized marijuana for recreational use. This means that it is treated like a controlled substance, like alcohol or tobacco, and anyone the

Cultural Environment Of International Business Essay

Cultural Environment of International Business Vanda Mallo Keiser University Abstract Understanding the management role relative to cultural influences is critical for today’s managers who want to interact proficiently across borders. One important concept which provides insight into the idea of intercultural aptitude is the notion of â€Å"mindfulness† or the ability to interact with others from different cultures. Managers must become more culturally sensitive since diversity in the workplace is now the norm in most major organizations. Intercultural relationships with business prospects, clients and workforce have the potential for positive and negative outcomes, and to better understand why and how these relationships can lead to positive outcomes, managers must recognize that employees’ perceptions of culture diversity may differ within the organization, and become the mediators of such relationships. By accepting the importance of intercultural relationships, an international business manager will be better positioned to handle the impact o f intercultural relationships, relative to international business and the role that they play. Cultural Environment of International Business Understanding culture and its many nuances is a critical part of the management process. Cultural knowledge must be identified, developed and taught to current and future managers so that they may be accountable to creating a diverse and inclusive work environment. In manyShow MoreRelatedUnit 39 - International Business1099 Words   |  5 PagesUnit 39 – International Business Scenario You are employed by the local Business Development Agency and have been asked to independently research international business in relation to an international case study business of your choice. From your research you are required to put together a research report document which can be used to assist businesses who are considering trading internationally. Your work should be a result of your own independent research and contain references throughoutRead MoreInternational Human Resource Management : Understanding The Cultural Environment1257 Words   |  6 Pagesmore critical for international Human Resource Management: understanding the cultural environment or understanding the political and legal environment? Why? Include key terms and concepts from the textbook. While there are many various global issues that affect the International Human Resource Management to run efficiently, there are two key concepts that play a major role in understanding how to approach them with cohesive and a well coherent strategy; they are the International Human RecourseRead MoreCultural and Linguistic Differentiations1419 Words   |  6 Pagescommunication between people and places has boosted many companies to expand in other countries. Yet, cultural and linguistic differentiations are the most sustainable features companies need to take under consideration, in a strategic planning of setting up abroad. A firm needs to become progressively more aware of the foreign cultures when aiming in a successful future in an international business environment. Attitudes towards work and material possessions, entrepreneurship, willingness to accept riskRead MorePolitical Factors That Affect International Business1020 Words   |  5 PagesWhile Global businesses operat e in overseas markets there is often a risk, the risk is referred to as political environment risk, and these factors can facilitate or hinder business operation. Some of the political factors that affect international business include† (Justin Ervin. Zachary Smith A.2008). One significant political environmental factor that influences international business operation is trade agreements. Countries frequently enter into trade treaties to further facilitate trade betweenRead MoreCase Study : Cultural Human Resource Management1361 Words   |  6 Pagescross- cultural human resource management Introduction Cultural issues in business are a phenomenon born by globalization of the market where companies invest in a foreign country to bring the culture of the host country and the company’s culture into contact. The market today is defined by global market that permits sharing of customers worldwide. However, during fierce competition, the market winners become the companies that who understand the Chinese culture. Therefore, cultural human resourceRead MoreEssay about Report on Cross-Cultural Management1127 Words   |  5 PagesPerspective vii. Summary viii. Bibliography Executive Summary This paper is a report on cross-cultural management, with the issues related to cross-cultural management being discussed in the paper. Additionally, the report has produced the future way of cross-cultural management, including how it can be improved in offices relying much on this strategic approach. â€Æ' Diversity of Cross-Cultural Management Introduction In the beginning of globalization, organizations have started redefiningRead MoreImportance of Cross Cultural Communications1209 Words   |  5 PagesEffective cross-cultural communication is one of the most important issues dealt with in business, particularly when a firm operates at an international level. Communication is a process with three key elements, which includes a source, an audience, and a channel. Communication derived from businesses will have listeners that include, but are not limited to customers, employees, suppliers, and the community (Caddy et al.). These listeners contribute to the success of a firm, which is why there isRead MoreMultinational Companies : An Organization Essay1536 Words   |  7 Pagesorganisational, local, and international management, thus, to be able to success the weakness and strength of the company must recognize to determine their capabilities before the management can proceed to international. It is very important for the multinational companies to increase the product life cycle for growing capabilities and to expand from domestic to globalization. However, many of multinational companies will be facing different dilemmas and obstacles towards to international market. AdditionallyRead MoreGlobal Business Challenges Of New Zealand Essay1112 Words   |  5 PagesGlobal Business Challenges Businesses competing in New Zealand and in the global arena, have to face many challenges in order to be successful. There is a vast range of challenges that businesses have to face which are considered, the major business challenges. These challenges can be faced by firms operating in New Zealand and firms that are operating on a global scale. Listed are some of these challenges. Business challenges: †¢ Cultural Sensitivity †¢ Environmental Sustainability †¢ GlobalisationRead MoreWhy Culture Matters Within International Business1076 Words   |  5 PagesWhy culture matters in International Business The purpose of this memo is to explain why culture matters in International Business and to give you some background information on culture and how this can improve the business once it is expanded abroad. According to Cavusgil, knight, Riesenberger(2014), â€Å"Culture is the learned, shared and lasting orientation patterns in a society. People demonstrate their culture through values, ideas, attitudes, behaviors, and symbolsâ€Å"(p.82). The culture

Opportunities For Strategic Information Systems

Question: Discuss about theOpportunities For Strategic Information Systems. Answer: Introduction Strategic information systems (SIS) are intended to offer a competitive advantage to an organization. The SIS are information systems created in response to business initiatives for the company. The primary goal of SIS is to design and develop products or services at lower costs, differentiated, tailored for a particular market or is innovative. Firms require minimizing production costs to gain competitive advantage and thus become market leaders in their specific industries (Donaldson, Ishii and Sheppard, 2006). For the purpose of this report, I have chosen Summit Homes Group organization in Australia. Summit Homes group is a homebuilding company with close to 40 years in the industry. Summit Homes Group engages in building houses and renovation of homes. Summit is one of the best working places in Australia as listed in the Best places to work in Australia in 2015. The purpose of this report is to identify the opportunities for strategic information systems of Summit Homes Group. Summit Homes Group Businesses Processes Summit Homes Group offers a variety of services apart from building and renovation. Summit has consultants who offer advice to interested homeowners. The consultants can help in finding cheaper finance solution for clients, sort out any paperwork associated with purchasing a home, build a home then sell or manage the developed property on behalf of the client. All these services are offered under one roof, and the company can sort all issues involving a property on behalf of the client. From the conception of the idea to own a home the experts at Summit will guide and help a customer from designing the plans for the home to the final product in most cases a built home. Its main business process involves building, renovating, developing or investing. All these objectives are met with a strong team of experts in all the areas. Organization Structure Summit Homes group has a board of directors that controls and runs all the activities of the company. The board is in charge of making the initial decisions that affect the company. Directly on the board are the general managers for Summit South West and general manager Summit North West. These general managers oversee all the activities of the branches. The general managers have personal secretaries assigned to them. Each of these secretaries plays a critical role in the management of the branches. The general managers answer to the board (Silva and Hirschheim, 2007). After the general managers, we have middle managers like IT manager, a client administrator, design manager, drafting senior manager supervisor. In each branch under each general manager, there is a team of specialists assigned to their professional fields. Information flows from the board downwards to the general managers up to the site supervisors and finally to the lower ranked employees at the construction work sit es. Environment Summit Homes Group has a busy and competitive environment. The government plays a bigger role in this environment. The government through agencies and commissions such as the Australian Building Commission and the Australian Competition and Consumer Commission (ACCC). These commissions develop policies such as the building code in Australia that affect the activities of the Summit Homes Group. Summit Homes Group faces stiff competition from other construction and building related companies like Buckeridge Group of Companies in Western Australia, the Alcock Brown-Neaves Group and Redink Homes Pty Ltd among others. All these companies are ranked as top performers in the Steel Housing 100 report. The Summit homes group has a lot of competition, and thus these factors influence the environment of Summit Homes. In Western Australia, companies face tight housing supply conditions due to the high competition (Liao, 2016). Business Strategy The main focus of Summit Homes Group is in Summit Homes as its premium brand. The goal is to offer sophisticated and thoughtful double or single story designed buildings the buildings should be perfect for second and even third home buyers. Summit Homes Group business strategy is to build homes, renovate homes, develop and invest while providing multiple quality solutions with excellent client services. To breathe life into its business strategy, Summit is partnering with a lot of companies to develop exceptionally and high-quality products that will change the construction industry and help achieve its set goals and objectives. Summit has built a lot of homes at Westlington at Harrington Waters in Waikiki and Hillstead at Heritage Park. The homes either single or double strategy. The blueprint for Summit Home Group is clear and that it will not be known only as a home builder or renovator but also as a developer or investor in the construction industry. Strategic Information Systems Some strategic information systems appropriate for Summit Home Group include an executive information system (EIS). The decision-making process in the company seems to be a long one. An EIS provides internal and external information necessary for decision making to achieve the set goals and objectives. EIS provides a manager with detailed up to date information making it easier for managers to verify, compare and discuss the data thus make better decisions easier and faster. Operational information system (OIS) involves Summit Homes interconnecting all its databases. This will make the business more efficient in handling the business. When a customer shifts from the South West to North West, the client will be able to get assistance at the Summit North West offices. Paperwork flow of information will stimulate efficiency and better service delivery for the organization in general. Information is central to a firms success. Value Chain The primary activity that creates value for the organizations clients is the customer service offered. Summit Homes group also handles everything from the initial feasibility to financial planning and finance to building, acquiring tenants on your behalf, managing the property and maintenance of the building. Summit Homes Group does all the paper work when requesting for finances to build a home. The company has specialists that negotiate with a lender from start to finish while they keep a client updated on the progress of a loan application. Summit thus offers clients services other than its primary goal of building that creates value. Through offering customers such services the company is differentiating itself from its competitors (Weinstein and Barrett, 2007). The services whether during financing or after the home has been built are what sets Summit Homes Group apart from its rivals. If a client were just interested in building a home, the client would go to any other company but the extra services offered will attract the client to Summit Homes. Information Systems Supporting the Value Chain Summit Homes Group needs to design a system in which a client can be able to track the progress of house being built to add value to the services they offer. Also, a home being renovated, the amount of money spent in completing different stages of the project and also track how the leasing of the houses is done. A comprehensive system that supports all these activities will improve the quality of services offered to a client. From wherever a client may be, he or she should have adequate information concerning a project and needs not to visit the site to get any new developments personally. This way, the organization will be able to attract more clients as information is a critical tool in improving the value chain. Competitive Strategy Summit homes face a lot of competition in the market. May building and construction companies have sprung up in Western Australia to be specific. Summit Homes Group competitive strategy is in its capacity to be the ranked best building and construction company to work for in Australia. By being the best company to work for in the construction industry, Summit Homes can create a good image for its company. In business, a good image is important at it attracts a lot of clients and investors. True to the rankings, Summit is revolutionizing the construction industry and its good relations with employees reflect the number of clients and awards they collect (Jay, Schultman and Ofori, 2010). Consumers and employees will always want to be associated with reputable organizations thus Summit will retain and attract top talented employees and on the other hand have loyal customers that keep referring their friends to Summit Homes Group. Information Systems Supporting the Competitive Strategy To effectively execute the competitive strategy, Summit Homes Group has to acquire the help of information systems. A strategic Human Resource Information System (HRIS) is ideal in helping employees engage more easily with the firm. To create a good corporate image by being the best construction company to work in, Summit has to invest in its employees. Employees are the most important resource in a company (Feng and Wu, 2015). The HRIS will enable employees to have their human resource requirements fulfilled, limit the employee manager confrontations thus improve the rapport of management and employees. The system creates a better work environment thus a good place to work and be highly productive. The system is designed to keep track of skilled labor and thus acquire it when needed during new hires. The HRIS meets the core functionality of an ideal human resource functionality that every organization needs to build a prosperous organization and achieve all its set goals and objecti ves. Conclusion In conclusion, strategic information systems offer organizations a long-term plan to attain a competitive advantage over its competitors. The use of information systems is a must in the dynamic business world of today as without embracing strategic information systems competitors can run an organization out of the market (Jenkins, 2010). An organization needs to critically analyse its internal and external processes to identify where there strengths and weaknesses are. The organization then needs to maximize the strengths, even more, to achieve competitive advantage using strategic information systems. References Donaldson, K., Ishii, K., Sheppard, S. (2006). Customer Value Chain Analysis.Research In Engineering Design,16(4), 174-183. Feng, Y., Wu, P. (2015). Risk compensation behaviours in construction workers activities.International Journal Of Injury Control Safety Promotion,22(1), 40-47 Henriques de Gusmo, A. P., Pereira Medeiros, C. (2016). A Model for Selecting a Strategic Information System Using the FITradeoff.Mathematical Problems In Engineering, 1-7. Jay Na, L., Schultmann, F., Ofori, G. (2010). Tailoring Competitive Advantages Derived from Innovation to the Needs of Construction Firms.Journal Of Construction Engineering Management,136(5), 568-580. Jenkins, J. (2008). Information Design for Strategic Thinking: Health of the System Reports.Design Issues,24(1), 68-77. Jung Ung, M., Bjornsson, H. C. (2008). Agent-Based Construction Supply Chain Simulator (CS2) for Measuring the Value of Real-Time Information Sharing in Construction.Journal Of Management In Engineering,24(4), 245-254. Keun, L., Tae Young, P., Krishnan, R. T. (2014). Catching-up or Leapfrogging in the Indian IT Service Sector: Windows of Opportunity, Pathcreating, and Moving up the Value Chain.Development Policy Review,32(4), 495-518. Liao, Z. (2016). Temporal cognition, environmental innovation, and the competitive advantage of enterprises.Journal Of Cleaner Production,1351045-1053 Newkirk, H. E., Lederer, A. L. (2006). Incremental and Comprehensive Strategic Information Systems Planning in an Uncertain Environment.IEEE Transactions On Engineering Management,53(3), 380-394. Silva, L., Hirschheim, R. (2007). Fighting Against Windmills: Strategic Information Systems And Organizational Deep Structures.MIS Quarterly,31(2), 327-354. Stories about the people and issues shaping architecture. (2013).Architecture Australia,102(4), 55-58. Weinstein, A., Barrett, H. (2007). Value Creation in the Business Curriculum: A Tale of Two Courses.Journal Of Education For Business,82(6), 329-336.

Risk Management in Insurance Industry Fraud †Free Samples

Question: Discuss about the Risk Management in Insurance Industry Fraud. Answer: Introduction Brief Statement of the problem Insurance fraud can be regarded as one of the most severe complications that threaten the viability of different insurance corporations. However, the insurance frauds also drive the entire costs of insurers as well as premiums of diverse policyholders. However, it covers an extensive range of illicit practices as well as illegal actions. Based on reports, it can be hereby stated that in and around 80 to 85% of the insurance premiums that are paid in Australia every year are essentially returned in specific claims funded to diverse policyholders. At present, it can be observed that this specific amounts now amounts to around AUD14 billion dollars per annum (Young, 2013). However, out of the total amount, roughly 10% or else AUD $1.4 billion, are gained by all the policyholders who, as said by the Insurance Council of Australia, present fabricated or else inflated claims (Wallach, 2013). Again, insurance corporations can observe the risk of different employees misusing diverse confidential information as well as colluding with fraudsters is increasing. However, the rigorousness of fraud can range from a slight overstatement to deliberately creating loss of diverse covered assets. Research Aim and objectives The aim of the current study is To assess different categories of life insurance frauds To critically analyse the risks related to the frauds in the insurance industry and to frame an ultimate risk management strategy to restrain or minimalize the frauds related to life insurance To critically explore the fraud risk management as well as the internal control system in the insurance industry for framing the fraud prevention mechanism Brief Methodology: Comprehensive Literature Review The initial stage in the process of development of clear understanding of the present topic is to carry out an all-inclusive review of the available literature on diverse important research theme. However, this assessment therefore includes published academic papers available from online databases, assessment along with analysis of pertinent business articles, research papers and reports from Australian as well as International Insurance Councils. Risk of Insurance Fraud in Australia According to the reports of Insurance Council of Australia (ICA), it can be said that frauds adds around an additional cost of AUD70 to the overall cost of all the general insurance schemes issued in the nation Australia, with the mean family contribution exceeds more than AUD 400 per annum towards fraudulent actions (Hymes Wells, 2014). Quantitative as well as Qualitative data The current study uses descriptive data for describing basic factors of the data in this specific study obtained from insurance agencies for example, number of insurance claims made, total number of suspicious claims registered, total number of confirmed fraud of customers, specific data on annual transformations in fraud premiums, customer gratification along with customer complaints. In addition to this, qualitative information can also be collected from insurance agencies concerning prevention of fraud as well as revealing strategies (Young, 2013). For the purpose of the present study, the learner intends to utilize quantitative data for acquiring relevant information regarding quantities that is essentially the information that can be properly measured as well as written down with numbers. For example, numeric records from different insurance agencies on fraudulent activities, number of registered cases and many others (Hymes Wells, 2014). For the purpose of the present study, the learner intends to utilize both the primary as well as secondary sources of data. The learner intends to conduct field survey as well as interviews for acquiring the primary data. On the other hand, the learner intends to acquire secondary data from published records made available by different insurance agencies, official websites, magazines and reports and many others. Survey Research- Self Administered questionnaire Subsequent to the extensive review of the literature, the learner proposes to undertake survey of the customers targeting from among the Australian public highlighting towards insurance industry to improve understanding of the present issue (Young, 2013). Experiment A specific experiment can be carried out for comparison of the responses provided by the particular control as well as intervention group in order to determine statistical significance between the responses of the people to different questions. However, this category of experiment takes place in a contrived environment, provided the nature of the given research topic under consideration to deliver a reliable and at the same time controlled experiment (Wallach, 2013). The learner also intends to ascertain the number of samples to be used for this study along with the approach of sampling to be considered to ensure representative of the entire population. For the purpose of the present study, the learner intends to gather the requisite sample by using non-probabilistic sampling method where the individuals do not have equal chances of getting selected. In this case, the samples are selected founded on the subjective judgement of the learner rather than random selection. References Hymes, L., Wells, J. (2014). Insurance Fraud Casebook. Somerset: Wiley. Wallach, L. (2013). Protecting clients from fraud, incompetence and scams. Hoboken, N.J.: Wiley. Young, M. (2013). Financial Fraud Prevention and Detection. Hoboken: Wiley.

Risk Management in Insurance Industry Fraud †Free Samples

Question: Discuss about the Risk Management in Insurance Industry Fraud. Answer: Introduction Brief Statement of the problem Insurance fraud can be regarded as one of the most severe complications that threaten the viability of different insurance corporations. However, the insurance frauds also drive the entire costs of insurers as well as premiums of diverse policyholders. However, it covers an extensive range of illicit practices as well as illegal actions. Based on reports, it can be hereby stated that in and around 80 to 85% of the insurance premiums that are paid in Australia every year are essentially returned in specific claims funded to diverse policyholders. At present, it can be observed that this specific amounts now amounts to around AUD14 billion dollars per annum (Young, 2013). However, out of the total amount, roughly 10% or else AUD $1.4 billion, are gained by all the policyholders who, as said by the Insurance Council of Australia, present fabricated or else inflated claims (Wallach, 2013). Again, insurance corporations can observe the risk of different employees misusing diverse confidential information as well as colluding with fraudsters is increasing. However, the rigorousness of fraud can range from a slight overstatement to deliberately creating loss of diverse covered assets. Research Aim and objectives The aim of the current study is To assess different categories of life insurance frauds To critically analyse the risks related to the frauds in the insurance industry and to frame an ultimate risk management strategy to restrain or minimalize the frauds related to life insurance To critically explore the fraud risk management as well as the internal control system in the insurance industry for framing the fraud prevention mechanism Brief Methodology: Comprehensive Literature Review The initial stage in the process of development of clear understanding of the present topic is to carry out an all-inclusive review of the available literature on diverse important research theme. However, this assessment therefore includes published academic papers available from online databases, assessment along with analysis of pertinent business articles, research papers and reports from Australian as well as International Insurance Councils. Risk of Insurance Fraud in Australia According to the reports of Insurance Council of Australia (ICA), it can be said that frauds adds around an additional cost of AUD70 to the overall cost of all the general insurance schemes issued in the nation Australia, with the mean family contribution exceeds more than AUD 400 per annum towards fraudulent actions (Hymes Wells, 2014). Quantitative as well as Qualitative data The current study uses descriptive data for describing basic factors of the data in this specific study obtained from insurance agencies for example, number of insurance claims made, total number of suspicious claims registered, total number of confirmed fraud of customers, specific data on annual transformations in fraud premiums, customer gratification along with customer complaints. In addition to this, qualitative information can also be collected from insurance agencies concerning prevention of fraud as well as revealing strategies (Young, 2013). For the purpose of the present study, the learner intends to utilize quantitative data for acquiring relevant information regarding quantities that is essentially the information that can be properly measured as well as written down with numbers. For example, numeric records from different insurance agencies on fraudulent activities, number of registered cases and many others (Hymes Wells, 2014). For the purpose of the present study, the learner intends to utilize both the primary as well as secondary sources of data. The learner intends to conduct field survey as well as interviews for acquiring the primary data. On the other hand, the learner intends to acquire secondary data from published records made available by different insurance agencies, official websites, magazines and reports and many others. Survey Research- Self Administered questionnaire Subsequent to the extensive review of the literature, the learner proposes to undertake survey of the customers targeting from among the Australian public highlighting towards insurance industry to improve understanding of the present issue (Young, 2013). Experiment A specific experiment can be carried out for comparison of the responses provided by the particular control as well as intervention group in order to determine statistical significance between the responses of the people to different questions. However, this category of experiment takes place in a contrived environment, provided the nature of the given research topic under consideration to deliver a reliable and at the same time controlled experiment (Wallach, 2013). The learner also intends to ascertain the number of samples to be used for this study along with the approach of sampling to be considered to ensure representative of the entire population. For the purpose of the present study, the learner intends to gather the requisite sample by using non-probabilistic sampling method where the individuals do not have equal chances of getting selected. In this case, the samples are selected founded on the subjective judgement of the learner rather than random selection. References Hymes, L., Wells, J. (2014). Insurance Fraud Casebook. Somerset: Wiley. Wallach, L. (2013). Protecting clients from fraud, incompetence and scams. Hoboken, N.J.: Wiley. Young, M. (2013). Financial Fraud Prevention and Detection. Hoboken: Wiley.