`` An Outpost Of Progress `` By Joseph Conrad And William...

â€Å"What are your thoughts?† â€Å"When reading seems to be an activity with which fewer and fewer people engage, what is the point of reading fiction or poetry? It seems to be the case, as one critic claims, that it’s not that â€Å"Johnny can’t read† but that â€Å"Johnny won’t read.† Fiction is evocative and subjective. It s made up and indirect in its communication. Fiction may evoke feelings and perception on the human condition and teach us just how fragile our cultures are from keeping history and thought between the lines. In the story â€Å"An outpost of progress† by Joseph Conrad and in William Blake s â€Å"London† we can see for ourselves the human condition of conflict and mortality. Fiction is subjective. A novel or poem is from an authors imagination and way of thinking. The characters and situations are made up. Readers do not expect fiction to portray the real world yet expect fiction to just reflects it. Yet fiction can seem real without being total fact showing us the human condition in culture. Poems can capture feelings or images to perfection with only the sound of the spoken language. In the story â€Å"An outpost of progress† by Joseph Conrad we see both conflict and mortality when Carlier and Kayerts both go through tribulations to become successful. With constant arguing and making a deal for slave trading, during a seemingly trivial matter after losing moral throughout the story, sugar sparks an irrational, uncontrolled and violent conflict between them ends with

Things Fall Apart and Take Three - 1384 Words

Religion. According to Webster’s Dictionary, religion is the belief and moral code a group of people believe in (â€Å"Religion†). Since religion gives people that moral code to live by, large groups of people turn to religion for ways to live their lives. In a study done by Ed Diener, at the University of Illinois, he found at that in the end, religion truly does make people feel more happy with whatever situation they are in (Rees). Throughout real life, and in many novels, religion plays an important role on how people speak, act, and live their lives in general. In Things Fall Apart and Take Three we can see how within these societies, people turn to their religion to get through tough times because they believe that if they believe in a religion it will give them a sense of peace and happiness. In Things Fall Apart and Take Three each novel had the characters go through something traumatic, be it family problems, friend problems, or work problems. Through each of these issues, it brings the characters closer to their religion, they turn to their religion to help them get through the tough time. Throughout Things Fall Apart and Take Three, it is easy to see that people rely on religion in hard times. In the novel Things Fall Apart, Okonkwo, the main character, lives in a village, Umuofia, that has very strong beliefs and ways to live their lives. Within their tribe they have been living their life a specific way for a long time and that is just the way that their cultureShow MoreRelatedThings Fall Apart831 Words   |  4 PagesBy: hulseb Things Fall Apart: An Evaluation In Things Fall Apart, Chinua Achebe tells two different stories at the same time. One is of Okonkwo, the villager whose rise to power is halted because of all of his misfortunes. The other is of Okonkwos village, Umuofia, and its struggle to hold on to its cultural tradition while facing colonialism from the West. The title, Things Fall Apart, describes perfectly what happens to both Okonkwo and his village. Okonkwos life falls apart and as a resultRead MoreMisogyny in Heart of Darkness by Joseph Conrad and Things Fall Apart by Chinua Achebe1129 Words   |  5 PagesMisogyny, the hatred or dislike of females, is a recurrent theme in World Literature. Women’s suffrage was at its prime between 1840 and 1920. Heart of Darkness by Joseph Conrad and Things Fall Apart by Chinua Achebe, two stories based in Africa, show different points of misogyny, the first being from the time of women’s suffrage, and the latter being after the womenâ€℠¢s suffrage movement. The value, view, and role of women was undermined greatly in these two novels. Heart of Darkness was publishedRead MoreThings fall apart1057 Words   |  5 Pages Reflection on the novel Things Fall Apart The Idea of Culture in Things Fall Apart The novel Things Fall Apart, by Chinua Achebe is a story about personal beliefs, customs and also about conflict. There is struggle between family and within culture and it also deals with the concept of culture and the notion of the values and traditions within a culture. The word culture is Latin and means to cultivate. To cultivate has several meanings; it can mean to plow, fertilize, raise and plantRead MoreChinua Achebe s Things Fall Apart Essay1519 Words   |  7 PagesChinua Achebe’s novel, Things Fall Apart, explores the complicated journey of the protagonist Okonkwo, an influential clan leader within the Nigerian village of Umuofia, and the struggles he encounters as a result of white colonist infiltration. Prior to the arrival of the colonist forces, Okonkwo is an individual that prides himself on his masculinity and success; living in direct contrast to his father Unoka, a rather lazy and cowardice man, as a result of a sense of shame he endures from his fatherâ⠂¬â„¢sRead MoreChinua Achebe s Things Fall Apart1719 Words   |  7 PagesThings fall apart is a classic novel written around the turn of the century, the novel focuses on the protagonist who we can also call a hero, Okonkwo. Okonkwo is a wealthy and respected leader within the Igbo tribe of Umuofia in eastern Nigeria. Strong individual with a passionate belief in all the values and traditions of his people. Chinua Achebe presents Okonkwo as a particular kind of tragic protagonist, a great man who carries the fate of his people. Okonkwo is a man who is inflexible andRead MoreThings Fall Apart913 Words   |  4 PagesThings Fall Apart The theme of the book Things Fall Apart, which focuses on the breakdown of a society as well as the main character’s personal breakdown, stems from many conflicts of interests and misunderstandings throughout the book. There is not one single moment in the book where everything falls apart, but many times throughout. In the beginning a lot of problems arise from Okonkwo’s anger problems, and his inability to see other’s views. His ignorance is what ultimately leads to his exileRead MoreEssay about An Analysis of Chinua Achebe’s Things Fall Apart1631 Words   |  7 Pagesis well known as the father of African literature. His first novel, â€Å"Things Fall Apart† is an interesting story full of tragedy, which takes place in Umuofia, Nigeria in the 19th century. Achebe sought to correct European writers who were misrepresenting Africans and life in Nigeria. According to Nnoromele (2000), the Igbo clan is a self-sufficient, complex, and vigorous gr oup of African people. Achebe wrote â€Å"Things Fall Apart† to accurately represent the conflict between Nigeria’s white colonialRead More T.S. Eliots The Wasteland Essay1303 Words   |  6 Pagesto our survival. As we struggle to survive when our world begins to fall apart, our basic instinct to cooperate with each other kicks in and we cling to each other for comfort. This concept is brought up in Chinua Achebe’s novel Things Fall Apart. And again W.B. Yeats’s says in one of his poems, Things fall apart; the center cannot hold. In either case the concept of clinging to one another and cooperating when things fall apart is displayed as a basic instinct that is the key to our success asRead MoreChinua Achebe s Things Fall Apart Essay1347 Words   |  6 Pageswhen Things Fall Apart while Joseph Conrad authored Heart of Darkness. Conrad and Achebe set their individual titles in Africa; Achebe is an African writer whereas Conrad is Polish-British. The au thors draw strength from their backgrounds to validity the authenticity of their fictional novels. Conrad writes from his experiences in the British and French navies while Achebe uses his African heritage. The theme of culture is prevalent in both Conrad’s Heart of Darkness and Achebe s Things Fall ApartRead MoreThe Heart Of Darkness And Things Fall Apart1585 Words   |  7 PagesKirkus review speak about Things Fall Apart, â€Å"This book sings with the terrible silence of dead civilizations in which once there was valor.† This novel is the incredibly powerful story of an Ibo Brave Man, Okonkwo, and his tribe’s fall fromgrace. It is impossible to read this novel without feeling the powerful passion, tragedy, and courage involved in the story. The Guardian says of Heart of Darkness, â€Å"Despite his protestations, this is undeniably an invaluable historical document offering a glimpse

Humanity Term Paper Essay Sample free essay sample

I neer of all time thought that Humanity would be such an interesting class when I choose it as one of my electives. I choose it because it fits into my agenda. After sitting through a few categories. this class has become such an interesting category to take. Even though I would neer volunteer to make a term paper on Humanity but I am glad the Gordon Rule of college encourage us to believe about how does the past shapes the present and how the present sets the bars for the hereafter. I decided I want to larn more about my ain civilization. I emigrated from Taiwan to the United States about twenty two old ages ago. I was raised in a Chinese-American family and being educated in the United States there are a batch of Chinese traditions and influences I do non truly understand. This paper is traveling to assist me and my fellow readers understand more about the background and the heritage of the Chinese civilization. people. history and the passage from old China to the new Modern China. I hope you enjoy taking this escapade through the Past. Present and Future of the Chinese civilization and revolution. China a state rich in cultural history and it’s the 3rd largest state in the universe and most populated. China produces many natural stuffs to the universe. steel. jade. and coal are many illustrations of what China produces. The Chinese authorities is one of the oldest authoritiess in the universe started in 1726. All of these things make up China and we would wish to cover a few countries of the China heritage and civilization and the cause and effects of the humanity of the Chinese cultural base point. We will get down on the history of China and how the Chinese people’s behaviour and point of position were affected by the political base point of the authorities. History of China With the Chinese civilisation being one of the oldest civilisations in the full history of our planet. it would be difficult to cover the history of China from the beginning to the terminal. We would wish to concentrate our larning on the history of China from the Three Kingdom Period. It is the period between the foundation of Wei in 220 B. C and the conquering of Wu in 280 B. C. . The Three Kingdoms period was one of the bloodiest periods in Chinese history. as a big per centum of the population vanished because of the changeless wars and conflicts that were interrupting out. Even though the Three Kingdoms period were characterized with war lacerate conflicts but many great Chinese innovations were develop around that period. For illustration the gun pulverization. Zhuge Liang’s wooden ox ( a precursor to the garden cart ) and our day-to-day necessity the lavatory paper. As I learned in Humanity when the people are repressed. the creativeness and the wonder of the people hei ghten. They start to spread out and inquiry thoughts and beliefs of the authorities and policies within the dynasty. The Three Kingdoms period was an of import period in Chinese history because like the Romans. This period was the aureate period of China where the creativeness and thoughts was fluxing. people was traveling against the authorities and the regulations and ordinance they imposed on provincials. The provincials started to arise and develop new thoughts and ways to better their quality of life. The most celebrated heroic poem narratives came from The Three Kingdoms period and turn over the incorporate China that Emperor Qin Shi Huang envisions China to be. This is a major turning point in the history of China and reawakens the Chinese people to believe and be originative. â€Å"If the Great Way perishes there will morality and responsibility. When inventiveness and cognition arise great prevarications will boom. When relatives fall out with one another there will be filial responsibility and love. When provinces are in confusion there will be faithful retainers. † Lao Tzu Quotes. hypertext transfer protocol: //www. brainyquote. com/quotes/authors/l/lao_tzu_2. html 2001-2012 visited April 4th 2012. Humanistic disciplines in China Whether is ancient or modern art. Chinese art is a ocular art that originated and practiced by Chinese creative person and performing artists. Stone-Age art dates back to 10. 000 B. C and it’s largely consisted of simple clayware and sculptures. The Stone-Age art period was followed by many art dynasties. The art dynasties lasted for over many 100s of old ages. Many of the art work are based on the Chinese heritage and civilization. The first Chinese clayware is consist of cord marked and unpainted clayware. First ornaments on Stone-Age clayware were fishes and faces. Jade art civilization was besides a popular signifier of Chinese art. Jade art civilization is dwelling of big pendents and ritual clayware. Jade was besides used for Cong cylinders. Bi phonograph record. and Yue axes. Bronze casting became a major art signifier from China because of the practicality of integrating it for day-to-day usage and besides it became a major collector’s point because of the intri cate bronze work from the Song dynasty. Chinese penmanship is an ancient art signifier that was praise as the highest and purest art signifier in ancient China. It takes old ages to get the hang the art signifier of Chinese penmanship. Ancient bookmans used Chinese penmanship as a tool for storytelling and retaining information. Chinese penmanship was foremost written on silk and subsequently was replaced by the innovation of paper because it was a cheaper stuff to utilize. Porcelains and terracotta were besides widely used as a signifier of Chinese art. The most celebrated terracotta creative activity from ancient China is the terracotta soldiers. The soldiers were made for Emperor Qin to protect him in the hereafter. It is sing one of China’s national hoarded wealths. Music in China Music is one of the oldest art signifier in China. The art signifier dates back to ancient Chinese civilisation. ( 1122 B. C. to 220 B. C ) The legendary laminitis of Chinese music was Ling Lun and early signifier of Chinese music incorporated music from cardinal Asia. The first written music in China is Yulan or The Lone Orchid. Early Chinese music was performed in tribunals in the imperial castle and musician’s place was lower than painters. Why does Chinese music sound different from Western music? Traditional Chinese music puts certain accent on each the five musical elements much otherwise than its Western opposite number. Chinese music besides uses a different graduated table. utilizing a five-tone graduated table instead than the eight-tone graduated table of Western music. One can non besides ignore the fact that Chinese music is sung in the Chinese linguistic communication. which will surprise and strike many Westerners as uneven and unbelievable. Another ground why Chinese music sounds so typical is the usage of Chinese instruments. Ancient Chinese music uses solo instruments made from bamboo. calabash. silk or animate being teguments. Chinese orchestras traditionally consist of bowed strings. woodwinds. plucked strings and percussion. The most celebrated signifier of Chinese music with dance is the Dragon Dance. It is a remembered tradition. Each twelvemonth the dance is performed for Chinese New Year. No 1 truly knows the beginning of the Dragon Dance or when the tradition started. It was believed 1000s of old ages ago. it was used as a signifier of amusement of former emperors. royals and Lords. The Dragon Dance is still widely popular today and continues the tradition of ancient music and dance in modern China. Folk Music is besides a popular type of music in China. In different parts of China. different idiom is used to sing folk vocals. Emperors took common people vocals really earnestly by directing functionaries of the tribunal to roll up common people vocals to inspect the popular will. Education of ChinaChina’s instruction is the largest instruction in the universe. Since ancient times esteeming instructors and valuing instruction has been a tradition of Chinese Peoples. In 1986 China passed a compulsory instruction jurisprudence doing 9 old ages of general instruction mandatary for the Chinese people. Today about 99. 7 per centum of the Chinese population has completed the compulsory 9 old ages general instruction. The Beginning of the Chinese instruction system started back in the Xia dynasty. ( 1523-1027 B. C. ) The development of authorship started around that clip. During ancient times the instruction system was purely provided merely to the elites. By the Shang dynasty epoch ( 16th-11th Century B. C. ) The development of Chinese character entered more beforehand phase and formal schools emerged with the names like ‘Xiao’ ( school ) . ‘Xue’ ( survey ) and ‘Daxue’ ( higher school ) . The Golden epoch of Western Zhou dynasty ( 11th century-771 B. C. ) the six classical arts-rites. music. archery. siting. authorship and mathematics became the content of the instruction. In ancient times the authorities attached great importance to knowledge people to read and copy books. The development of official and private school evolved around this epoch. The Chinese authorities ever applied accent around the development of instruction. In modern China the importance of instruction secures your position in the work force and the Chinese authorities invests major clip and money around instruction. I am talking personally on my ain term. Both of my parents were college educated and both of my cousin’s Teachs English in China. Having a strong educational background is of import in the modern Chinese society. Food in ChinaChinese cookery is one of the greatest methods of cookery in the universe. Since ancient times many nutrient constituents and factors have influence Chinese cookery. Cooking Chinese takes accomplishments and experience. Regional nutrient is influence by different parts of China. ( For illustration BBQ joint porc is a stable of the Canton part which is the southern portion of China and the Northern part consumes largely bread and pasta merchandises like the pot spines and soup noodles. ) Common Chinese utensil for feeding is the chopstick. Common utensil for cookery is the wok or bamboo steamer for steaming nutrient. A repast in the Chinese family is dwelling of two general constituents. Rice being the chief constituent in southern portion of China while noodles and buttockss being the chief constituent in northern parts. The 2nd constituents are the side dishes and it’s normally dwelling of vegetable. fish. meat or other points. The nutrient consumed by household in the early twentieth century reflects the life criterions of the single household. â€Å"The stallss were chous. sesame oil. salt. soy sauce. soy paste and acetum. the lone meat bought was mouton. The nutrients bought in some measure by over 90 per centum of the households were rice. buckwheat flour. salted ke-te. Sweet murphies. bean sprout. Allium sativum. benne paste and runt. † Jonathan D. Spence Chinese Roundabout 1992 ( W. W. Norton: 1992 ) pg. 175 Even though there are many parts in China but in modern China there is merely four chief popular manner of cooking Beijing manner. Shanghai manner. Szechuan Style and the Cantonese Style. Cantonese manner is the most popular manner overseas due to the migration of the Chinese population in the early twentieth century. When you eat Chinese nutrient is an escapade in itself due to the cookery manners and ingredients from different parts of China. Family Life in ChinaThere are many alone features sing Chinese household life. The traditional vision of household life is a strong household unit led by the male parent and hubby. who has absolute control over the household. Through the instruction of Confucius. faith plays a major portion in specifying the functions and duty of household members. Social order and behaviour was taught through Confucianism. Choosing matrimonies were done through the parents and many arranged matrimonies still exist in modern China. The most alone about household life in China is the one- kid policy. It’s been enforced in China since 1978. Families in metropoliss were restricted to one kid merely due to the turning population roar in the metropoliss. In rural countries of China twosomes may seek for a boy if the first Born was a girl. Exceptions are made in certain countries of China and for the minority folk. The one-child policy has a profound consequence on relationships between parents. kids. women’s position. and matrimonial chances. With the one-child policy even urban planning. instruction. and planing of car are strongly influenced by this policy. The first coevals of the one-child policy has changed the prospective of modern China. The new age thought has a profound impact on the following coevals of Chinese people. The one-child policy has brought down the birth ratio from 26 per centum down to 8 per centum a twelvemonth. It had a strong impact on the sex ratio instability of modern China. The traditional importance of baring a boy to go through down the household name still holds a strong line of descent on the Chinese society. In rural countries of China. The tradition of a boy supports the whole household is still in being today. In the Chinese civilization the male race dominates in society and the women’s function might hold changed throughout the old ages but the women’s function in China is still taking attention of the family and her household. The adult male works and is responsible for the income of the family. Religions in ChinaWhen we speak on the faith of China. there is non one faith that has non being spread by missionaries from the West or influences from India or the environing countries. But if we want to get down someplace on faith in China. we have to get down with Buddhism. Buddhism came to China around one century A. D. Due to its broad spread popularity. it became the largest faith in China. There are three types of Buddhism in China. Chinese Buddhism. Tibetan Buddhism and Pali Buddhism. There are around 200 thousand monastics under these 3 subdivisions. There are more than 13 1000 temples. 33 Buddha colleges and 50 different Buddhism publications. Taoism is an ancient faith derived with history since 2nd century A. D.Taoism worships natural objects and ascendants. It became reasonably influential among the Han people. It’s hard to cipher the Taoism believer due to its unfastened door policy. At current statistics there are over 15 100 Taoism temples and 2500 believers. Islam. Catholicism and Christianity besides have major impact on the faiths in China. Islam faith is broad spread around the Tibet and Nepal parts. Most Moslem lives in little communities in the environing Autonomous Region and there is more than 40 1000 Muslims in China. Catholicity and Christianity were widely spread during the nineteenth Century. China has approximately 5 million Catholic trusters and 10 million Christian trusters. Due to popularity of Catholicism in China. China has cultivated over 15 thousand immature bishops and 3 1000 misss has been crowned nun goon. The impact of Christianity has brought over 18 1000 priests and 12 churches in China. Government of ChinaThe complexness of the Chinese authorities day of the months back to the Formative Age ( Prehistoric Age 206 B. C. ) â€Å"It is rather apparent that Shang China developed a reasonably sophisticated governmental system to get by with the size of the province and the complexness of its activities. † Charles O. Hucker China’s Imperial Past 1975 ( Stanford University Press. Stanford California 1975 ) pg 50. Even in prehistoric clip the China Shang Monarch already developed and recognized their authorities as a centralised 1. â€Å"Regional provinces were graded in proportion and distance from the royal capital. † China’s Imperial Past 1975 ( Stanford University Press. Stanford California 1975 ) pg 50. The male monarch prescribed regional Godheads and the Godheads have administrative staffs. Even with the Imperial sovereign governing enduring over centuries. it did non halt the Communist party or the CCP ( Chinese Communist Party ) taking control of the Chinese authorities in 1949. China is one of the really few states still under Communist regulation. Under the Communist guideline. the authorities takes control of the public sector. I see it first manus by sing China in 2009. The oil companies are all owned by the authorities. There are no private oil companies in China. The elites are the ace wealthy. most elect households have at least one member that works for the authorities. The pensions and retirement financess are controlled by the authorities. I was watching the Beijing intelligence and it informed me that the mean retirement fund in China was $ 3. 00 a month. Facebook and Google are banned due to censoring of address and the freedom to shop the cyberspace is restricted by the authorities. Imagine populating under a microscope and being controlled in about every sector of your life. That is what modern China has become. China has a great tradition of autocratic swayers with an imperium that goes back 2000 old ages. There had neer been any democratic regulation in China before 1900 when it was a powerful and advanced civilisation. During the times of the dynasties. the Chinese people could non take who led them and who was in charge of the state. But they did hold private endeavor in commercialism and agribusiness. This led to the state being powerful and advanced. The CCP might non desire to give the people democratic rights but promote private endeavor in industry. commercialism and agribusiness as this manner of regulation was in force for 1000s of old ages when China was a powerful and advanced civilisation. The CCP wants to return to those ways as they were so successful for the state and its people lived in prosperity and felicity. Besides. as the state has non been democratic for about all of its history. really few people in China would hold experienced democratic regulation. Wayss of unrecor ded and tradition have been molded around autocratic regulation. The CCP could believe that if the state went to democratic regulation. these ways of life would hold to alter and tradition would be lost. East vs. WestThe subject on East vs. West is on the difference of Chinese cultural differences and United States cultural differences. The differences between the two dramas a major factor in societal interaction between the two civilizations and it besides helps us understand how every sector that I covered in this essay contribute to the cultural impact and interaction of the Chinese people. Social construction of China is formal and you abide by the regulation. There is no traversing into other countries. United States societal construction is informal and loose. Peoples of different societal degrees interact with one another. If you planned on carry oning concern or anticipating an drawn-out stay it is good to cognize that the direct American attack is non the manner to travel. Direct confrontation over issues is frowned upon. Respect and award is valued and it’s shameful to face issues straight in China over concern affairs. The Chinese expression at ego as a group corporate whiles the American’s pushes for individuality. A individual from China is more prone to look at how their Acts of the Apostless affect the whole alternatively of how it affects them personally. They are more willing to give up and forfeit for the greater good. America’s individuality has been its anchor and the ground for its success as a universe power. but when sing China it needs to be reined in. Repute is extremely valued in China. If an action humiliates person. it is extremely avoided. When shame occurs a Chinese individual will make whatever it takes to salvage face or salvage their repute. In America repute comes and goes and it does non count. The terminal consequence is more of the focal point. A individual is more likely to overlook a repute to acquire the occupation done. Chinese society topographic points high values on the ethical motives of their people. Marriage is non encouraged until the late mid-twentiess. In fact. dating is discouraged early in a immature adult’s life and propernesss are expected to be held up. The American civilization is much more relaxed and some could even reason that at that place needs to be more moral emphasize. Humility is a virtuousness in Chinese civilization. The success of one’s concern and personal life is down played. While American likes to publicize their humbleness. American’s views humbleness as a mark of failing. Last but non least the Chinese mentality on Respect. Respect is extremely valued in Chinese society. It is expected for you to esteem and handle the other individual good. In the American circle regard is non as extremely valued. I hope you enjoyed the overview of China today. Bing a Chinese American and life in this state for over 22 old ages at that place is a batch I can learned and understand about my ain civilization. This humanity class has helped me acquire in touch with my traditional side of my heritage. From Family life to religion the position and mentality of the Chinese civilisation is non merely fascinating but besides intriguing. For those of you who do non hold the pleasance of sing China. This is one topographic point you should perfectly set on your pail list. From the Great Wall of China to the Terracotta warriors of the Qin Emperor. China is the gem of the Orient. Thank you for taking this journey with me through the past and present of Chinese civilization and civilisation. I want to stop this essay with a Lao Tzu quotation mark. â€Å"Be Contented with what you have ; rejoice in the manner things are. When you realize there is nil missing. the whole universe belongs to you. † hypertext transfer protocol: //www. brainyquote. com/quotes/authors/l/lao_tzu_2. html 2001-2012 visited April 4th 2012. Pg 1.

Dulce et Decorum est by Owen and The Charge of the Light Brigade by Tennyson Essay Example

Dulce et Decorum est by Owen and The Charge of the Light Brigade by Tennyson Essay The two poems I will be analysing are `Dulce et Decorum est by Owen and `The Charge of the Light Brigade by Tennyson. Tennyson and Owen have very different views on war, I think that it is important to look at their reasons for writing the poems, and their backgrounds. Tennyson was poet laureate, and therefore a high profile figure, and expected to write poems. He came from an aristocratic background, and had a higher-class family than Owen. He did not see war for himself; he simply read a newspaper article and wrote his poem as a result of that. His information was secondary, and therefore ubject to bias, that was beyond his control. Owen had a much different upbringing, he came from a working class family, but managed to go to university, which was unusual at that time, for working class people. He was a soldier, and had first hand experience of the reality of war, so his information on which he based his poem was primary, and we can assume it was probably much more true to the reality of war. Owen wrote his poem out of a desire to communicate the horror of war to those who still believed that it was glorious and honourable, as promoted by Tennysons poem. We will write a custom essay sample on Dulce et Decorum est by Owen and The Charge of the Light Brigade by Tennyson specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Dulce et Decorum est by Owen and The Charge of the Light Brigade by Tennyson specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Dulce et Decorum est by Owen and The Charge of the Light Brigade by Tennyson specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The two views on war held by Tennyson and Owen could not be more different. Tennyson believes that the valiant and courageous should be remembered for dying in that war, on the other hand Owen is adamant that no more young boys be sent to somewhere as abhorrent as that, without knowing the truth. He knows that a lot of propaganda is prevalent, and wishes that they made up their own mind about whether they want to fight, rather than be forced, or coerced into something that they will regret. Tennyson uses a strict rhythm and structure, while Owen uses numerous similes and a much slower speed, to encapsulate his perception of war. Half a league, half a league, Half a league onward, This rhythm is set from the first two lines and last until the very end of the poem. In my opinion it reflects the strict regimentation of the soldiers, and the rhythm of the horses galloping towards their destination. It is designed to make the reader feel a sense of power and glory, disregarding the facts of the situation, that there was a terrible massacre of the English armys finest soldiers. Bent double, like old beggars under sacks, Owens poem is much more ironic, in that the poem is called `Dulce et Decorum est which is Latin for `it is sweet and fitting so he first line of the poem is a strong and shocking contrast, moreover the title is very ironic, as it was quite a common saying at the time, and he has named his poem after it, and then goes on to describe the atrocities of war, the exact opposite of the title. His similes metaphors are very effective, and in this simile he also uses alliteration, to emphasize the pain and suffering that the men endured. The fact that the British army were in this grave position was bad enough, but that they were `like old beggars is the ultimate disgrace to the army that was arrogant enough to believe that they were unbeatable. This was poignant at the time he wrote the poem. Tennyson does use metaphors, but a minority in comparison to Owen, who uses many highly effective similes and metaphors. `Knock-kneed, coughing like hags, we cursed through sludge, Here Owen continues to create an image of the downfall of the mighty army, and how poor they are now. He compares them to `hags, which implies witches and the ugliness of war, and what it has made of them. He uses the word `we reminding the reader that he was one of those soldiers, and that he knows what is was like to be in that situation, going through the hell that those soldiers were suffering. The word `sludge gives the feeling of biting cold, and thick mire that made even walking difficult. Owen makes it very easy for us to imagine the plight of these poor men. `All in the valley of Death Rode the six hundred. Here Tennyson uses a metaphor that is effective on its own, but is also from the bible, Psalm 23. This brings a religious angle to the poem now, and that God is on the side or the Light Brigade, against the enemy. He the writes `Rode the six hundred which is repeated throughout the poem, and in fact there were more like seven hundred and fifty men in the Light Brigade, but Tennyson only chose to ay six hundred, maybe to make them seem more heroic because there were less of them, or possibly just for poetic licence, to keep the strong, pulsating rhythm. Tennysons poem moves very rapidly, and does not dwell on the consequences, where as Owen focuses on the consequences. Tennyson tries to whip up enthusiasm, without a thought for the reality of what is happening. ` `Forward the Light Brigade! Charge for the guns! he said: Tennyson creates an image of the Light Brigade approaching their target in a very commanding and impressive stampede, almost regal in their stature. The adrenaline rush that the soldiers were eeling was very important, to make sure that they did not become discouraged, and the generals would shout instructions to keep them motivated and rapt in what they were doing, and that is what Tennyson is writing about here, the sheer determination of the Light Brigade. His use of exclamation marks conveys the atmosphere of the charge to the reader. `Men marched asleep. Many had lost their boots But limped on, blood-shod This imagery uses a metaphor in `men marched asleep and also alliteration, to give the slow plodding feel of the soldiers walking on in the ghastly conditions. Use of the words `blood-shod s excellent imagery as it has a meaning that they were shod with blood and the similarity of sounds gives an enhanced mental image of the scene that Owen was recounting. Owens poem does pick up pace when he talks about a gas attack, which contrasts with the rest of the poem, and Tennyson writes briefly about the fact that a mistake had been made, but the soldiers carried on, regardless. `Gas! Gas! Quick, boys! An ecstasy of fumbling, fitting the clumsy helmets just in time; Owen describes the slow plodding side to the war previously, and here contrasts it to the extreme with a gas attack that forces hem all into action. He uses capitals for the word `Gas, showing the pure desperation in which they had to save themselves. Gas was one of the most horrible ways to die, and it was not a swift death, so it was extremely feared among the soldiers, making this section of the poem all the more dramatic and contrasting to the rest of it. He uses the word `ecstasy, which is usually associated with pleasure, but in this case it is the `fumbling, to put on their gas masks, which makes it all the more noticeable and effectual. Tennyson does hint about the mistakes of the generals, and hat the soldiers knew about it, but then he reinforces his point, of patriotism and loyalty, regardless of the cost. Owen focuses on one particular man, who is unfortunate, and treats him as an individual, not the generalisation of Tennyson. `And floundering like a man in fire or lime Here Owen creates a scene of a man who had not fitted his gas mask in time, and is suffering the consequences of the gas attack. He uses the word `floundering to describe the way he is moving in this simile, and gets the reader to visualise a man in fire or lime, a horrible enough image in itself, but that only describes is movement. Not though the soldier knew someone had blundered: Theirs not to make reply, Theirs not to reason why, Theirs but to do and die: Tennyson gives a glimpse of what had really happened in the battle, and that it was a farce, but then backs it up with one of the most effective sections in the poem, where the repetition of the `Theirs not to and the rhythm of the passage speeds up the whole poem, into a similar frenzy that the soldiers would be worked into by the adrenaline of the battle. They had no say in the orders in those days, and to answer back to a superior was unheard of, you just ollowed your orders, and did not question them. Tennyson uses repetition again to show the odds faced by the brave soldiers, and how they pressed on regardless. Owen recounts his personal view of what happened to a real person, which is very effective as it gets the reader to envision the revulsion felt by the other soldiers, looking on this incident. Cannon to the right of them, Cannon to the left of them, Cannon in front of them Volleyed and thundered; Tennyson successfully accentuates the dire predicament that the soldiers are obliged to undertake. He uses the repetition of the hrase, with the same rhythm to underline the hectic feeling of the Light Brigade, as the ride towards their formidable enemy. `Dim through the misty panes and thick green light, As under a green sea, I saw him drowning. Here Owen uses a simile, then goes on to use it as a metaphor. He describes the eerie colour of the gas as `misty panes, and `thick green light, which, combined with the fact that he is in acute pain gives a terrifying and harrowing account of the abhorrent way that men died in the war. The reader gets the impression that Owen feels guilty and helpless, all he can do is be a bystander, and ait for the pitiable man to die. Owen uses astounding onomatopoeic language, among very effective similes and metaphors. Tennyson explains to the world the bravery and courage it took to do what they did. He plunges at me, guttering, choking, drowning. Owen selection of language is impeccable for its intention, as he uses the word `guttering, to describe the way the man sounded before he died, and it does so remarkably. It is onomatopoeic, and very convincing that it was in fact the final `plunge, of a dying man. He also continues his metaphor of the man `drowning, in the gas. Charging and army, while All the world wondered: Tennyson is writing his poem for the world to read, so in a sense, it is to the reader, without having to directly say it, he implies it. He tells the reader that they charged the army for valour and honour, not because of a well-informed decision, but because they were so dedicated to their cause that they were willing to lay down their lives for their country. He acknowledges that it seems strange to charge an army, when you are armed only with sabres, and you are riding a horse, when they are armed with cannons, but he encourages he reader to join his perspective, that it was a valiant charge, and they should be honoured for it. Tennyson gets the reader to be patriotic too, as he tells of the amazing attack that the Light Brigade made, even with the odds against them. Owen describes the awful disrespect for the dead, which became so because of the normality of somebody dying, which is horrific, that a person can die without anyone bothering or taking the time to be respectful to him. `Plunged in the battery-smoke Right through the line they broke; Cossack and Russian Reeled from the sabre-stroke, Tennyson has already inferred that they were fighting a attle that they were not going to win, but regardless they fought on gallantly. It is very surprising that they did actually break through the Russian line of defence, and it was amazing that they got that far, but colossal losses were made to the Light Brigade, without doing a proportionate amount of damage to the Russians. Tennyson uses three rhyming endings out of four lines, which speeds the pace of the poem up to its maximum, and makes it mirror the frenzied attack on the mighty Russians. The Russians and Cossacks were renowned for their mercilessness and brutality, moreover there were many more Russians han there were Light Brigade. All of this contributes to Tennysons image of how gallant the attack was. If in some smothering dreams you too could pace Behind the wagon we flung him in, And watch his white eyes writhe in his face, Owen uses alliteration to give emphasis to the dream image, of being suffocated and smothered and mauled by the dream, he makes the reader liken this to what he has to endure, recalling all of the horrific scenes of the war, day after day. He challenges the readers to ask themselves if they could walk behind that wagon, and watch his writhing eyes, and knowing that you have no time to pay proper respect o them, moreover it could be you in that wagon next, or your best friend. He uses the word `flung, to show how carelessly the dead were dealt with, and the impersonality with which they had to be treated. The soldiers were desensitised to the horror now, but still the memories, and nightmares remained. This particular incident seems to have been one that particularly affected Owen, and he uses this as an example of how every soldier would have similar ghastly and atrocious recollections of the war that would haunt them for the rest of their lives. It is no longer a recounting of his experiences, but t now involves the reader, and confronts their own views on war. They have to revaluate what they think of war, and whether they would be willing to go themselves, or in most cases send their sons, husbands and fathers. This is hugely effective, for the sheer fact that it is unfeasible to read the poem and not take on board what Owens point is, and that he feels so strongly about it that he has to convey to the general public. Owen uses vivid language to express what he believes to be the reality of war. Tennyson steers attention away from pain and death, and asks that everyone honour them, regardless of whether they ied or not. His hanging face, like devils sick of sin; If you could hear at every jolt, the blood Come gargling from the froth-corrupted lungs, Owen has already challenged the reader about whether they could be the ones that fling the man into the wagon, then whether they could be the ones that watch him in the wagon, now Owen brings in yet another sense, whether the reader could listen to `the blood come gargling from the froth corrupted lungs, He challenges the reader in so many ways which makes it more efficient at achieving the emotion that he wants the reader to feel. This conveys Owens views of war to he reader skilfully and efficiently. His use of a simile is one of the most effective in the poem; he uses a spiritual and hellish simile, which also incorporates alliteration, to give it a raspy, evil sound. The image created here is truly evil and foul, and I think that this summarises Owens feelings about war quite well, it is now clear to the reader what Owen is trying to communicate, and why. Stormed at with shot and shell, While horse and hero fell, They that had fought so well, Tennyson comments on the prowess of their adversary, as they are still firing at them when they are trying to retreat, and mentions hat soldiers have died, but he uses the word `fell, to take the attention away from the fact that they have died, and he wants the reader to focus on the glory of it all, in addition to that they should be seen as heroes whether they died of not. Tennyson and Owens poems both reach their climaxes in terms of their dramatic language and dev ices. These make the point that each writer is making stick in the minds of the reader. `When can their glory fade? O, the wild charge they made! Here Tennyson uses a rhetorical device, to infer to the public that the glory of the soldiers, dead or alive should never be orgotten. Tennyson glamorises the whole image of war, and makes the glory of it the focal point, without mentioning the pain, suffering and death, which seems to be a large omission in my opinion, as that is a large part of the reality of war. Obscene as cancer, bitter as the cud Of vile incurable sores on innocent tongues, Owen uses the word `obscene, which is often used in a different context, but here it makes the point that it is so foul, what he sees before him that he does not even want to look at it. He writes that it is `bitter, which provides a perfect expression of the ay that he feels about this scene. By writing about innocent tongues, he is implying that the men that are fighting the war are innocent; it is th e superiors and government that are the guilty ones, the ones that command the armies. Here, the soldiers have to live with the consequences, rather than the people who are really to blame. Nobody can bring the dead back to life, or undo what has been done, so that is why Owen calls the it `incurable, which is really a main theme of his poem, that what has been done is done, and all this suffering is not even their fault, it is simply paying the price for thers shortcomings. The last lines of each poem summarise perfectly the two views on war held by these two writers. My friend, you would not tell with such high zest To children ardent for some desperate glory, The old Lie: Dulce et Decorum est Pro patria mori. Owen is fighting the views of such people who think that to go to war is honourable, the exact opposite of the intention of Tennysons poem. He uses irony in his poem, as the title simply means `It is sweet and fitting, where as at the end he clarifies what he really means, and what he really thinks about war. He has experienced war for himself, and does not want others to have such a horrific burden placed upon them without being fully informed of the great hardships to be endured in doing so. He calls it `The old Lie, which is a very strong statement to make against a saying that people genuinely believe in, with which he intentionally shocks the reaHe also says `My friend, this is applicable to everybody, not just to select people, and the reader knows that. `Honour the charge they made! Honour the Light Brigade, Noble six hundred! Tennysons use of exclamation marks makes his point very lear. This poignant ending commands the public to follow his views on war, and instructs them to honour the whole six hundred, whether they returned or not. Tennyson writes with one clear aim, that patriotism is instilled in every person who reads it, and does not doubt his or her country. He uses repetition to make his point all the more clear and concise. His poem is mainly propaganda, and is not supposed to be used as a historical account of the battle, but as a symbol of the bravery of the soldiers, and a monument to their glory, that in Tennysons opinion should never fade.

Essay on Real EstateEssay Writing Service

Essay on Real EstateEssay Writing Service Essay on Real Estate Essay on Real EstateThe term â€Å"real estate† is a commonly used term, which means â€Å"land and its improvements; mines, minerals and quarries under the land; air and water rights associated with land; and other rights and privileges related to land† (Karp et al., 2008, p. 38). In other words, reals estate involves all types of land attachments that have permanent nature. However, the meaning of the term â€Å"real estate† may vary, depending on the situation. For example, in jurisdiction, the term â€Å"real estate† means â€Å"real property† (Karp et al., 2008). Moreover, real estate may refer not only to property, but also to the rights and privileges relating to land.   These rights are called real estate. In marketing, real estate market analysis is used to identify current problems in the field of real estate industry. Market analysis is conducted for all types of real estate.MarketingThe term â€Å"marketing† refers to different activities aimed at sales, including â€Å"merging, integrating and controlling supervision of all company’s or organization’s efforts that have a bearing on sales† (Reid Bojanic, 2009, p. 8). In other words, marketing involves buying activities, selling activities and the activities associated with transporting goods and services. Today marketing can be viewed as a system of different business-related activities, which help to distribute various goods and services to potential and present customers. Marketing philosophy reflects the profit concept. Special attention in marketing is placed on the role of a market price. Many experts consider that marketing has become an art that covers a wide range of activities (Reid Bojanic, 2009). The major function of marketing is enhancing consumer satisfaction. For example, improved distribution requires the proper marketing activities to increase consumer satisfaction.StrategyThe term â€Å"strategy† can be defin ed as â€Å"determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals† (Chandler, 2003, p. 13). In business, it is necessary to make decisions aimed at expanding activities and achieving the established goals. Marking strategy should be developed and implemented to effectively deal with customers, segments and target markets. The major goal of marketing strategy is not only to identify customer needs and demands, but also design an effective marking program that will help to find the proper ways to satisfy the needs and demands of potential customers (Chandler, 2003). The lack of well-developed strategy leads to poor performance because of improper actions to achieve the established goals. Organizations should recognize the importance of developing an effective strategy to achieve success on the competitive market.PoliciesThe term â€Å"policy† can be defined as a â€Å"set of directions, which are oriented toward a long-term purpose or to a particular problem† (Massow, 2009, p. 11). Policies refer to decisions, which influence the development and implementation of certain strategies. Policies play a crucial role in marketing development. Policies help to change the existing environment for a better one.   In marketing, policies are based on marketing principles that help to promote them. Pricing policies address price as the key element of marketing, which influences customer satisfaction, sales and profits (Massow, 2009).   Pricing policies help to set the most flexible prices to achieve the established goals in sales. In other words, policies are developed to generate bigger profits addressing certain challenges.

Euhemerism and the Gods

Euhemerism and the Gods Euhemerism and the Gods Euhemerism and the Gods By Maeve Maddox As long ago as the 4th century B.C.E., a student of religion and myth named Euhemerus theorized that the gods and their stories had their origins in actual historical events. His name has given us the term euhemerism [yÃ… «-hÄ“mÉ™-rÄ ­zÉ™m]: interpretation of myths as traditional accounts of historical persons and events OED Much later, an Icelandic student of the Norse myths, Snorri Sturluson (1179-1241), suggested that the gods began as human war leaders. He speculated that cults grew up around the burial sites of kings and renowned warriors. The living visited the sites called upon the departed for help in battle. Eventually the dead heroes were remembered as supernatural beings with the power to bestow victory in war. Related words are: euhemerist: noun, one who follows the method of Euhemerus euhemeristic: adjective, ) of persons: Inclined to euhemerism; (b) of things: Of the nature of or resembling euhemerism euhemerize: verb, To subject to euhemeristic interpretation; To follow the method of Euhemerus. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Types of RhymeTime Words: Era, Epoch, and EonNominalized Verbs

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LOVE - Mednet.com - Case Study Example â€Å"A differentiation strategy means that value is provided to customers through the unique features and characteristics of a companys products rather than by the lowest price† (Openlearningworld, 2011). The firm provides value to its customers by allowing them to search for medical information beyond their immediate needs. Differentiation also implies offering a set of meaningful valued differences to distinguish the company’s offering from that of its competitors (Kotler, 2003). The marketing goals of Mednet.com include achieving sales growth, satisfying its customers, increase viewers of the website, and increase its customer base. The firm is currently facing a marketing dilemma due to the fact that one of its largest customers is threatening to bailout on the company and leave for Marvel if the firm does not change its marketing cost formula. The client wants Mednet.com to stop charging for banner impressions. â€Å"Most web businesses generate their revenue via these banner impressions (advertising)† (Essortment.com, 2011). Approximately 80% of the firm’s revenues come from banner impression sales. The first option is to eliminate the banner impression advertising in order to match the pricing strategy of Marvel. This is not the best option because it would drastically reduce the revenues of the company. Executives of the company estimated the company would lose 80% of its current sales. The second option is to keep the current pricing strategy without making any adjustments. A third pricing strategy is to reduce the price structure of the company and substitute the income by adding additional services. â€Å"Pricing is an important strategic issue because it is related to product positioning† (Netmba.com, 2012). When a company charges a price that is too low the customer perception is that the quality of the good or service offered by the firm is low. Mednet.com can change its revenue

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Morbibity and mortality by race in US by agesexand location - Essay Example The report from CDC presented detailed 2005 data on deaths and death rates according to a number of social, demographic, and medical characteristics. The data provided information on mortality patterns among residents of the United States by such variables as age, sex, Hispanic origin, race, marital status, educational attainment, injury at work, state of residence, and cause of death. Information on these mortality patterns is important for understanding changes in the health and well-being of the U.S. population Mortality data in their report can be used to monitor and evaluate the health status of the Nation in terms of current mortality levels and long-term mortality trends, as well as to identify segments of the U.S. population at greater risk of death from specific diseases and injuries. Differences in death rates among various demographic subpopulations, including race and ethnic groups, may reflect subpopulation differences in factors such as socioeconomic status, access to medical care, and the prevalence of specific risk factors of a particular subpopulation. Based on the statistics as of 2005, there were 2,448,017 deaths were reported in the United States according to the death certificates state agencies received and filed. Life expectancy at birth remained the same as in 2004- 77.8 years. Age-specific death rates decreased fo

Cultural Influences on Eating Out Habits in the Uk Essay Example for Free

Cultural Influences on Eating Out Habits in the Uk Essay Society today has become accustomed to dining out. It has become a large part of British culture according to a survey carried out by Mintel entitled ‘Evening Eating Habits in the UK’ (2005). Dining out at ethnically themed restaurants and takeaways has increased in recent years due to many different economic, social, and cultural forces. These forces vary from the presence of a more affluent society with higher expendable incomes to the increased ability to travel to exotic far away places around the world creating a consumer want for recreation in the UK of their holiday experiences which include dining out. The report also highlighted the fact that 75% of the eating out market is dominated by those eating out in the evening which equates to ? 20. 7 billion a year. This market is one that can not be ignored by those within the hospitality industry and those businesses that already experiment with exotic foods will gain the opportunity to experiment further with their menus, using higher priced ingredients to increase profit margins. Although there are many possibilities available as the trend widens it is suggested by the author that a trend alone cannot allow for increased business. Higher profit margins for more expensive ingredients will mean that the consumer will start to expect more from the restaurant or takeaway in question. Such qualities as ambience, service, food standards, variety of menu, and recreation of an experience the consumer may have had whilst on holiday may also come into the equation. Large brands such as YOsushi! are cashing in on the market trends by serving a variety of sushi dishes in a fun and friendly way. Japanese food such as sushi is often deemed as a much healthier option to over take in popularity other ethnically themed cuisine such as indian and chinese dishes (Martin, 2007). Sushi is based primarily around raw fish, rice, and vegetables (YOsushi! 2007) and therefore the author suggests that due to a more multicultural society in the UK this has lead to different ideals being set for healthier eating however it is noted by the author that although the ingredients used to make the western ideal of sushi are deemed as healthy the preparation and cooking methods may not result in an end product that is altogether free of those things seen as unhealthy due to the inauthenticity of production. Although large companies such as YOsushi!are succeeding in a very competitive business environment, how will such a shift in eating habits affect the smaller local businesses? According to Mintel (2002) one of the main reasons smaller businesses within the ethnically themed cuisine market are suffering lower profit margins is due to the lack of branded outlets, but the author suggests that this could be due to other issues such as the recent healthy eating trend which has caused many consumers to re-evaluate the content of the takeaway food that they consume therefore choosing healthier options instead. This essay will attempt to identify the reasons why a consumer will choose to dine out over eating at home, and then their reasons for choosing one hospitality venue over another. This should help to understand the growing market for ethnically themed restaurants and takeaways. The contributing economical, social, and cultural factors of increased consumption of ethnic cuisine will be explored further making suggestions to the hospitality manager on how to understand their target market therefore aiding a more profitable business. It is important for any business to understand a consumers’ motivation to buy or use a service â€Å"A motive is an internal energy giving force that directs a persons activities towards satisfying a need or achieving a goal† Dibb et al (2001, pg. 121). Before a consumer enters any hospitality venue there may be many different factors that have affected their motivation to choose that particular restaurant or takeaway over another. It may be such basic factors as location, price, and the service they are provided with once inside the establishment, choosing on this basis is known as ‘patronage motives’. For an ethnically themed restaurant or takeaway to make the most of these motives they should be aware they are around them and attempt to emphasize said factors within their personalized marketing mix. It is suggested by the author that this can be achieved with simple marketing ploys such as 2 course lunch menus, or a drink and a main course at a set price. By strategically placing the offers where the consumer will see them is more likely to attract them to try the service that is provided, and possibly provide return custom when the special offers are not available and they will choose from the full price menu instead. It is suggested by the author that this form of marketing can be applied anthropologically as the consumer will not only judge the food outlet based on the price but also on how that price fits in with the image of the food product and its connection to the time and culture it represents. A good example of strategic marketing for ethnic food is that of ‘China Town’ in London, many of the restaurants offer all you can eat buffets at low prices, and set menus that will attract many types of customers from those people wanting a quick lunch away from the office to tourists who have been attracted by the hearsay and theme of such a place (Anon, 2007). 60,000 Chinese people of diverse origins live in London there is a large network of Chinese schools and charity based community centres that offer support so that a sense of cultural identity can be passed down from one generation to the next. This sense of cultural identity may be passed down for several reasons, Auge (1995) suggests that there is some sense of fantasy where as the environment they live in was founded a long time ago expressing a group identity that they feel should at all times be defended from external and internal threats and not forgotten through the generations. Although ‘China Town’ is now seen by the local council as a tourist attraction (Anon, 2007), it was originally a safe haven for the many migrants coming to the UK in the 1960’s, many of the british soldiers that returned from war in the Far East having enjoyed Chinese cuisine founded a new loyal customer base for the cuisine in the UK and this is how that particular area of London became known as ‘China Town’ (BBC. 2007) Although China Town is now a tourist attraction it should be noted that it is also a meeting place for many Chinese people who feel a sense of community and cultural identity. Unfortunately since Westminster council started a multi million pound re-development of the area this has seen the closure of many of the smaller authentic chinese restaurants in favor of more chinese ‘themed’ restaurants that will appeal to the average tourist (Anon, 2007). It is suggested by the author that this could cause many negative issues for the cultural identity and sense of community that exists within China Town where as the authenticity and history behind such an area of London are forgotten in favor of providing the tourists with an unrealistic representation in hopes of higher profits and visitor statistics. However it is noted by the author that there has always been an element of staged authenticity in China Town because the original cultural background was replicated in the first place. Although ‘patronage’ motives play a key part in the consumer decision making process there are many other motives to consider such as the suggestion that food choices are actually part of a person’s identity for example a consumer who chooses to dine at restaurants that only use local produce is likely to be seen by other consumers as someone who is not only concerned with the food that they eat, but also where it has come from and whether it benefits their local communities economy and local identity. Local produce has over the past decade been linked to geographical, historical, political, legal, economical, social and cultural issues therefore allowing the consumer to view it as a multi faceted cultural entity. Those consumers who are concerned with choosing only local produce relates to the idea of territory, and the limitation of space while respecting the environment around them. (Auge, 1995) There are two key theorists in relation to consumer motivation Abraham Maslow and Frederick Herzberg. Maslow believed that a persons needs are based on a hierarchy arranged with the least important factors at the bottom and the most important at the top. This arrangement starts with physiological needs followed by safety needs, social needs, esteem needs, and finally self actualization. Once part of the Triangle (see appendix I) is satisfied then the consumer will move onto a fulfillment of the next level for example a man enters a chinese restaurant and eats because he is hungry then the physiological need is fulfilled, he may then go on to have a drink with friends to fulfill his esteem needs. â€Å"When that important need is satisfied, it will stop becoming a motivator, and the person will try to satisfy the next most important need† Kotler et al (2003, pg. 354). Frederick Herzberg developed Maslow’s theory and separated a persons motivators in to potential satisfiers and dissatisfiers. In Terms of Maslow and Herzberg’s theories being applied in an anthropological sense the author suggests that this refers to culture, identity and symbolism of food consumption as part of the needs felt by the consumer, furthermore esteem needs, social needs and even self-actualisation are all part of what the consumer deems part of their individual or cultural identity. For this to work a person must have enough factors that are going to satisfy them into choosing one ethnically themed restaurant over another. For a hospitality operation to put this theory to use they would need to avoid as many potential dissatisfiers as possible and concentrate on what the major satisfiers of their target market are, this may just cause the difference between a consumer choosing one restaurant over another that is just around the corner. Therefore it is suggested by the author that given the large number of decisions a consumer has to make when choosing an ethnically themed restaurant or takeaway, and the impacts that a multicultural society has on the consumer as an individual it is necessary to explore how and why consumers might influence one another to make a purchase decision based on food consumption. Firstly religious aspects of an individual within a group will play a key part in determining what food type they can consume. A child born into a family with strong religious beliefs will often take these beliefs as part of their individual identity, A good example of this is that of the consumption of ‘halal’ meat products by many muslim families throughout the UK. According to the Halal Food Authority (2007) the worship of Zibah means that animals have to be alive and healthy at the time that they are to be slaughtered, as little pain as possible must be endured by the animal during slaughter therefore a single cut is made with a sharp knife to the jugular vein. The Islamic Shari’ah religion also forbids the consumption of pork, and Halal meat must be prepared only in a situation where no pork products have been. Although there are many ethnic takeaways and smaller businesses providing halal or ‘kosher’ food, there are not many big brand names within the industry. Nando’s restaurant, a Portuguese themed food outlet, provides halal chicken in what they have branded world famous peri peri sauce. Nando’s have eased themselves into the local communities in which they reside by using the slogan â€Å"we believe in trying to make life better for all† (Nando’s, 2007). Offering local sponsorships of sports teams and supporting local charities has included the brand in a sense of community and cultural identity, it is noted by the author that the sense of community and cultural identity is referred to in a general sense rather than that of a particular local community. To continue the idea that consumers can influence one another the concept of traditional family mealtimes should be explored. Family mealtimes in the past decade would have been a time for the family to sit down, relax and enjoy each others company with a home cooked meal. In society today mealtimes are changing to meet new priorities and work patterns, and flexible eating patterns are becoming more popular as people base when they eat around their lifestyle rather than a structured day to day meal time for the whole family to adhere too. (Wright et al, 2001) It is suggested by the author that due to this shift in family unity at mealtimes less influence is being had over family group identity and a more decisive individualistic consumer will emerge instead with their own food choice preferences. However it is suggested by the author that the idea of a more individualistic consumer is more relevant to British culture and many other cultures residing within the UK may still enjoy unified meal times together as a family. In many ways it is a move forward in terms of identity and consumption of the consumer, one that the hospitality needs to be aware of to maintain a successful business. Friends and social groups can also influence one another in the food choices that they make, for example a group of friends who regularly meet up at coffee houses such as ‘Starbucks’ will adopt a coffee culture the same as that represented on popular television shows such as ‘friends’. This happens because of the regular use and social identity that is created (Food Institute, 2005). It is noted by the author that social groups that contain consumers of different cultures and backgrounds, may influence one another to desire the need to experience each others cultural identity. There are many reasons why a consumer may choose to eat out in the first place according to Cousins et al (2002, pg. 251) â€Å"If people have decided to eat out then it follows that there has been a conscious choice to do this in preference to some other course of action, in other words the food service operator has attracted a customer to buy their product as against some other product for example theatre, cinema, or simply staying at home†. Often the convenience of eating out over cooking at home will help make the decision for a consumer. Eating out means more time for relaxation, quality time with family or friends, or just a change from the norm of returning from work and cooking dinner. The increase in the number of consumers choosing to dine out follows changes that have happened over the last decade where as family identity and roles have changed, with most households having two incomes and often the women will be the primary earner whereas before the women would stay at home and perform the role of ‘housewife’. According to a recent survey (eating out and the consumer, 2007) only 8% of women see their main role as ‘family care’ compared to 15% just a decade ago, the survey also highlighted the fact that women are more concerned with healthy eating when dining out, with 76% of women agreeing compared to 41% of men. This could have an effect on the number of consumers choosing to dine at ethnically themed restaurants and takeaways as it is suggested by the author that as women are more concerned with healthy lifestyles for their families and will aim to choose an operation that can provide healthy nutrition, value for money, and good service as well as a sense of culture that is relevant to that particular family according to Mintel (2007) this will continue to be a growing factor in the choice of dining out establishments as more women seek full-time employment over the next five years. The change of roles in family lifestyles follows onto that of demographics. According to the Office for National statistics (2006) London consumers spend an average 60% more on dining out than consumers from other parts of the country such as in the North East of England. This can be seen in London with the success of ethnically themed restaurants and takeaways such as Belle Italia, Cafe Rouge, Pizza Express, and Franky and Benny’s (Tragus, 2007). Many of these franchisees can be seen throughout the country but the survey carried out by the Office for National statistics (2006) also showed that those companies who left high profit areas such as London to nationalise their brands got their ‘fingers burned’. The author suggests that this inability to mobilise a new brand into an area of the country may stem back to the area’s cultural identity based on the general perception of that culture, where as the consumer does not feel that the new brand is part of their personal identity and therefore is not part of the communities identity either. Identity can be associated with the repeat consumption of a particular restaurant or takeaway, for example a consumer who constantly eats at Chinese, Indian, and Greek takeaways may eventually adopt a fast food culture. The fact that so many people are choosing to dine out comes back to the notion that today’s society is more affluent, higher expendable incomes and more leisure time leading to a consumer that enjoys dining out on a regular basis. It is however noted that by the author that the trend for increased dining out may also relate to a new culture of ‘malaise’ whereas people are just too lazy to cook at home and therefore choose to dine out. According to Martin (2007, pg.3) â€Å"people will pay more for what they think is important, but the question for the eating-out market is what is going to be classed as really discretionary and what virtually essential? There is no sign that people will start cooking at home again, they will however most likely want better value†. The author suggests that better value can mean numerous factors such as better quality and service rather than just providing a less expensive dining experience. Therefore those ethnically themed restaurants using high quality ingredients and experimenting with menu changes towards the more exotic may find an increased custom due to the perceived ‘value’ in the consumers ideals. Many people want variety within their lifestyle, there are so many venues within the hospitality industry that offer something that a consumer may never have tried before or only experienced on holiday in a far away exotic place, this relates directly to the increased consumption of ethnically themed foods and plays a key part in attracting new customers and maintaining a loyal customer base. As mentioned earlier YOsushi! is one of the worlds most famous conveyor belt restaurants, the food is all freshly made to order and is prepared in full view of the customers. It is interesting to note that the conveyor belt restaurants in Japan are nothing more than a basic food outlet where customers can get a quick bite to eat on their way to do something else as stated by owner of London sushi bar ‘Itsu’ Mr Metcalfe (2007) also stating that the conveyor belt is a great way to get food to customers whilst saving money on staffing costs. It is suggested by the author that this shows the cultural changes that have taken place in providing the same concept in two different countries so that they both remain profitable. Japan on one hand prefer the sushi conveyor belt restaurants to be quick no fuss food where as in the UK they are somewhat staged, bringing a little piece of what the British believe to be how Japan prepare, and eat their food almost ritualistically (Metcalfe, 2007). Since opening in 1996 YOsushi!has become extremely popular, their no fuss attitude to service and the customers freedom of choice within the venue has produced a global brand â€Å"Since the first year of business (1996) YOsushi! has received approximately 300 applications per year from potential franchisees from Australia to Zurich. We realized we were on to a winning formula and that we could replicate the outstanding YOsushi! success story around the world†. Vickers (2005). It is suggested by the author that the success of ethnic brands such as YOsushi!is the effective use of consumer motivation combined with the provision of a market trend that integrates both healthy yet exotic ethnic food types. Although brands such as YOsushi! have become globalised many of the dishes that are recreated from one country to another tend to have a very different end result to its original form. This will happen for several reasons starting from simple facts as seasonality of produce to the availability of certain ingredients. for example a curry had in India is likely to look, taste, and even smell different to that of a curry in the UK such as the ‘Balti’ which is believed to have been invented in Birmingham. (Anon, 2007). Birmingham is renowned for the production of curries with around 500 venues to choose from (Anon, 2005) and has provided a steady economy for the ethnic food industry, the word ‘Balti’ when translated actually means ‘bucket’ which in earlier days would have meant an earthen dish with handles on. The Balti will identify culturally with a specific set of migrants, even though it is not an ‘authentic’ Indian dish, and residents of Birmingham and the surrounding region, therefore the author suggests that the dish has been redefined from a traditional dish to one that combines not only the ethnic roots of the inventor but also the environment that is now lived in within western society. Although the cultural identity of foods such as the Balti appear to create an economical advantage for Birmingham it has been noted that many Balti-house owners and managers spend their time constantly undercutting each other in a price war (Ram et al, 2000) making it difficult for each individual business to survive. The cultural identity of Birmingham is very much tied to the popularity of dishes such as the curry the author suggests that this may be because of the stereotypical cultural image of the traditional British friday night out, but according to Stewart (1989) less well known is that of the fish and chip shops that are Greek-Cypriot owned and add up to over 25% of Birmingham’s fish and chip shops therefore showing that Birmingham is a good example of a multicultural environment within the UK, even though it is often not perceived to be a ‘global city’ its economy is evolving in many ways through the ethnic food industry that is related to its â€Å"multiculturalism, post colonialism and the transnationalism of many of its residents† (McEwan et al, 2005) , as suggested by Bryson et al (1996) it is a â€Å"workshop of the world† that through its migratory and post colonial past is by all means a multicultural city within the UK. It is noted by the author that although Birmingham is a good example of a multicultural city within the UK there are many other cities that also benefit from a multicultural society such as Manchester and Nottingham. In conclusion there are many different factors that affect the way consumers are motivated to choose where to dine out, these have varied from patronage motives to those of cultural identity and a sense of community. Religion, Income, increased leisure time, and demographics have all played a key part in influencing consumers on their food choices, leading to a society that is more informed about what is available to them and what they want from their dining out experience. The changing roles of family life, eating patterns and the increased number of women working full time has also contributed to a society that want to enjoy their leisure time with friends and family rather than adhering to the role of women in the home that may have been present a decade ago. Ethnically themed restaurants and takeaways have enjoyed the trends that have increased the number of people dining out in the UK dramatically in the last decade, with consumers including their food choices as part of their cultural identity and also wanting to experience other cultures that are residing alongside one another within many cities in the UK. Ethnic cuisine is influencing the consumer more and more, with choices available from world wide destinations that remind the consumer of holiday experiences, alongside the perception of a ‘healthier’ food option within the rise of a much more multi-cultural society, the service of ethnically themed cuisine should continue to remain profitable to both large brands and smaller businesses within the industry as long as the hospitality managers understand their target markets motivation for buying and consumer demand remains constant.

Powerful Women of Homers Odyssey Essay -- Homer Odyssey womody

The Powerful Women of Homer's Odyssey Homer's "Odyssey" depicts women as strong subjects-they are real substantive characters. Women in this poem are tough, strong-willed and are treated with the respect and seriousness they deserve. Homer characterizes the women in his poem as the real counterparts of men-they have real feelings, real plans and are able to accomplish them on their own. Some of the more impressive and intriguing women in the book are Nausicaa, Arete, Circe, Calypso, Penelope, Helen and Athena. Nausicaa is a sweet girl, and on the outside she may appear to just be the stereotypical woman, but, in the poem she has much more depth. She is the daughter of a king with dreams of her wedding and other girlish fantasies. She characterizes all that is pure, innocent and righteous in the world. Arete is Nausicaa's mother is very intelligent and is independent in nature. She is abl...

Transfer Pricing

Chapter 1 Introduction of the Topic TRANSFER PRICING TRANSFER PRICING is a term used to describe all aspects of inter Company pricing arrangements between related business entities, and commonly applies to inter Company transfers of tangible and intangible property. Inter Company transactions across borders are growing rapidly and are becoming much more complex. Transfer pricing refers to the internal pricing system that is used when divisions in the same firm deliver products or services to each other. The transfer price is a cost for the receiving division and revenue for the supplying division, so it affects the financial result of both divisions involved. Transfer prices can be based on market prices, but for various reasons a market-based transfer price might not be appropriate: transactions taking place between the divisions of the same firm are often unique and would not be offered stand-alone on the market. In practice, therefore, cost-based and negotiated transfer prices are used apart from market-based prices. Transfer pricing, for tax purposes, is the pricing of inter Company transactions that take place between affiliated businesses. The transfer pricing process determines the amount of income that each party earns from that transaction. Taxpayers and the taxing authorities focus exclusively on related-party transactions, which are termed controlled transactions, and have no direct impact on independent-party transactions, which are termed uncontrolled transactions. Transactions, in this context, are determined broadly, and include sales, licensing, leasing, services, and interest In India also, considering the importance of Transfer Pricing, Section 92 of the Income-tax Act, 1961 (‘the Act’) empowered tax authorities to make adjustments to income on arm’s length basis in case of transactions between residents and nonresidents having ‘close connection’. Also, section 40A (2) (a) was introduced in the Statute, giving powers to the assessing officer to disallow the expenditure incurred in respect of which payment is made to related parties, if assessing officer is of the opinion that such expenditure is excessive or unreasonable. However, these sections were limited in scope and had certain inadequacies viz. the term ‘close connection’ was not defined, there were no rules concerning documentation, the burden of proof was on the assessing officer, no rules were prescribed for determining arm’s length prices etc. On the Customs side, under the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988, there were provisions for rejecting the transaction value when the buyer and seller were related persons or when they had interest in one another’s businesses. Corporate the world over are expanding their wings in an effort to gain a share of the global pie. There is talk of the world fast turning into a global village with economies increasingly becoming inter-connected. But with cross-border trade comes a whole new set of problems, Transfer pricing is one of them. When a company opens a branch in another country, gets its products manufactured there and then imports it, there is a question mark over what price should the parent pay for buying the product from the subsidiary. This price till now has been subject to the parent’s discretion and has been used by many corporate the world over to control the tax outgo to their Government. In effect, the price at which goods are transferred from one arm of the company to another is known as transfer pricing. The Finance Act 2001 introduced the detailed Transfer Pricing Regulations (T. P. R. ) in India from 1stApril 2001 APPROACHES TO TRANSFER PRICING Taxation that is based on transfer pricing is becoming an important issue for many companies, whether U. S. based or foreign based. The regulations have sought to impose extensive general principles and guidelines that apply when the taxpayer selects the transfer pricing method. These methods impose penalties on an inappropriate choice of a transfer pricing method. In addition, the administrative cost of complying with the regulations can be extensive. As a result, implementation of the transfer pricing regulations may impose significant costs on the taxpayer above and beyond the taxes themselves. Faced with this transfer pricing onslaught, businesses have chosen different approaches to the tax aspects of transfer pricing. At the outset, the selection of a transfer pricing strategy is determined by three factors: 1. Taxes imposed on the transfer pricing decision 2. Administrative time and expense incurred 3. Potential penalties (which are discussed next) Over the past decades, the topic of ‘transfer pricing’ has continuously attracted attention in the literature. The reasons for this intensive degree of attention are diverse. Lots of managers, in particular CFOs and controllers, can elaborate on the number of hours spent in order to reach a transfer pricing policy that is satisfactory and acceptable for all organizational members involved. Tax managers in multinational enterprises (MNEs), from their side, will explain the difficulties they encounter when fulfilling the transfer pricing tax rules in the different countries in which they operate. This article focuses on the dual role of transfer pricing – managerial versus tax compliance and sheds insights by approaching these issues from a corporate governance perspective. [pic] It is a well known fact that Multi-National Enterprises (MNEs) have found India conducive to set up their operations, largely because of the availability of a skilled work force at reasonable costs. Investments into India result in transactions between the Indian and the parent company as also between the Indian company and other foreign group companies. Such transactions could encompass sale of goods, provision of services, licensing of intangibles, to give a few examples. These transactions give rise to transfer pricing issues. Transfer prices are important for both tax payers and tax authorities because they determine, in large part, the income, expense and taxable profits of the associated (group) enterprises in different tax jurisdictions. Effective April1, 2001, India introduced a comprehensive TP legislation as an anti-avoidance measure. The Indian TP regulations are broadly based on the transfer pricing guidelines issued by the Organization for Economic Co-operation and Development (OECD), but are unique in some respects. The Indian TP regulations mandate that international transactions with related parties shall be determined having regard to the arm's length price, i. e. the price that would be charged by enterprises in an uncontrolled transaction. In India, not only are taxpayers selected for compulsory audits based on quantitative parameters i. . international transactions in excess of INR 50 million in a fiscal year (proposed to be increased to INR 150 million), but further, Indian tax authorities are seen as adopting an increasingly aggressive approach on TP related issues. In several cases, in the recent past, taxpayers faced significant challenges in defending their transfer prices. Taxpayers typically defen d their transfer prices as being at arm's length by conducting a transfer pricing study and comparing their net margins with those earned by comparable uncontrolled enterprises. Therefore, whether a particular transfer price is accepted as being at arm's length or not depends to a large extent on the process of selecting comparable data for the analysis. The lack of quality comparable data in public domain is a challenge faced by the taxpayers while preparing their documentation. This challenge is further compounded by the approach adopted the Transfer Pricing Officers (TPOs) during audits. In addition to using comparable data which was not available at the time of preparing the documentation, TPOs have also resorted to â€Å"cherry-picking† of comparables (especially y eliminating loss making/ low turnover comparables) rather than adopting an objective approach to identifying and screening the comparable companies. This approach creates a bias in favor of profitable companies in the comparable data, resulting in transfer pricing adjustments for the taxpayers. The worst affected were captive service providers, which bear little or no risks as they dea l with parent or group companies as compared to comparable uncontrolled transactions undertaken by other companies which cater to third parties and bear a range of risks including recovery of the price from the third party customers. or captive service providers. It is a fundamental economic principle that entities which However, in a number of instances, TPOs have largely ignored the importance of risk in a transfer pricing analysis and determined high mark ups on costs, to be the arm's length margin do not undertake risks can expect to earn a lower rate of return. Recently, The Delhi Income Tax Appellate Tribunal (ITAT) has revived the hopes of tax payers in India. This decision was given in the case of a captive service provider, Mentor Graphics (Noida) Private Limited, engaged in rendering software services to its US parent. The decision has laid down certain broad principles that could have a significant influence on transfer pricing in India. Steps of Transfer Pricing The scope for Transfer Pricing in such transactions also increases in cases with ‘tie-in’ clauses in licensing agreements or technical/financial collaborations which require the purchase of goods from the licensor or party designated by the licenser. There are three aspects of Transfer Pricing which are:- i) Motivational and Operational Aspect, ii) Regulation of Transfer Pricing, iii) Estimation and control. i) Motivational and Operational Aspect:- Operational and financial manipulations for transfer pricing take the form of false invoicing. This is defined by the OECD Committee on Fiscal Affairs (1976), as- â€Å"A transaction intended to evade tax by putting taxable objects outside the reach of national tax authorities by means of an invoice that does not accord with economic facts† This object is achieved through bo th under and over invoicing (of imports and exports), often by the same company. Policy induced motivation for transfer pricing manipulations may arise because of both tax and non-tax factors. Corporate tax rates and fiscal provisions, exchange rate fluctuations and import duties as also labor laws, policies restricting monopolies International tax avoidance to achieve these and other objectives may occur through general manipulations, as well as through specific items in the balance sheet and the profit and loss account. In BS loans to foreign affiliates may represent the repatriation of foreign profits in an attempt to avoid domestic payment of dividends, as also may excessive balances with affiliates. Write-off of inter company debt may be attempted to reduce balances that may have resulted from non arms length transaction. Omissions in the balance sheet of expected assets or liabilities may indicate transfer or sale of intangible assets like patents, know-how etc to tax affiliates. In P&L A/c, R and D expenditures may be hidden, pooled or distributed to avoid taxes; royalties may be excessive and may go to unlikely recipient affiliates; patents and trademarks may be charged for at monopolistic rates, or involve reciprocal benefits and may be prices even after their expiry. In case of payments, for both royalties and patents and trademarks, to affiliates the charges may not meet with the arm’s length criterion. Payments for home-office administrative support, R and D etc. , may be excessive and may contain hidden profits which are not assessed in the country of receipt. Sales of partly finished goods, third party commissions or discounts to foreign affiliates, unexpected purchases or sales, rentals, office and travel expenses, changes in the pattern of accounts, liquidation and sales of foreign affiliates etc. also provide ample opportunity for transfer pricing and consequently tax avoidance. (ii) Regulation of Transfer Pricing:- In a mixed economy like ours this could mean a misallocation of resources, accompanied by an adverse redistribution of incomes away from national entities and the related BOP effects. Before dealing with transfer pricing before it can occur and after it has occurred, policy regulation is therefore also required, to deal with its macro economic consequences. The adverse impact on host government foreign exchange; revenue losses and the consequent implications for internal resources mobilization; distortion in the functioning of specific policy instruments resulting in the non-achievement of plan targets; all call for an active role of the state. Similarly, at the micro level the proliferation of market concentration and oligopolistic practices require state intervention. (iii) Estimation and Control:- 1). Any proper appraisal of the scope of transfer pricing manipulations on the part of transnational corporations, and of their actual practice must be assessed within the framework of the specific set of government measures and structural factors endemic to TNCs which tend to be the motivational forces behind such practices. 2). Abandon the free market model and allow for a changed role of the state, from one of trying to restore some traditional version of market relations to that of an active intervener in the struggle over international distribution of surplus. Keeping in mind these approaches, we would like to focus on the problem of estimation the extent of pricing manipulations by TNCs, in various sectors and industries in developing countries, in the context of relevant government policies and regulations. Exemption for Bankers Bankers have sought an exemption from the provisions of transfer pricing regulations. When banks extend loans and guarantees by way of investment in equity, this may lead to the specified shareholding limits being exceeded. Though the banks may not have any control over the company, such transactions are subjected to transfer pricing rules of the Income Tax Act. In their meeting with the finance minister earlier this month, public sector banks had said banks should be excluded from the purview of the transfer pricing provisions under the income tax law. Current regulations also cover loans advanced for not less than 51% of the book value of the total assets of the borrower and guarantees granted for more than 10% of the total borrowings of the guarantor. But experts feel that banks do not usually have so much exposure to a single borrower. Banks provide financial assistance to various corporate and non-corporate clients by way of investment in equity or preference shares, subscription to debentures, loans and guarantees. Under section 40A(2) of the Income Tax Act, any expenditure incurred between related parties treated as unreasonable by the assessing officer is not allowed as a deduction. This section empowers an assessing officer to disallow deduction of any expenditure incurred between related parties and considered by the officer as excessive or unreasonable having regard to the fair market value of the goods, services or facilities. Similar restrictions are applicable to banks according to the transfer pricing provisions under sections 92 A to 92F. The scope of related person under section 40A(2) for a banking company includes a person in whom it has a substantial interest in the business, where ownership of shares is not less than 20% of the voting power. However, according to Reserve Bank of India regulations, voting powers are limited to 10%, irrespective of the ownership of shares. The transfer pricing provisions (sections 92 to 92F) only apply to transactions between two non-residents or between a resident and a non-resident and not to transactions between Indian banks and Indian counterparties. â€Å"While the transfer pricing provisions can be applied to transactions between the foreign subsidiaries of Indian banks and Indian counterparties, only under very rare exceptions do such foreign subsidiary banks have an exposure to unrelated borrowers to bring their transactions within the transfer pricing rules. â€Å"Also, it is unlikely that transactions between Indian branches of foreign banks and Indian counterparties would result in a loan greater than 51% of the book value of assets of the borrower for the transfer pricing rules being made applicable to genuine third party transactions. The objective of transfer pricing is that the correct amount of profits should be retained within the country and thus the transfer pricing provisions should be made inappl icable to transactions between Indian branches of foreign banks and the group’s related Indian companies,† Mr Wadhwani added. While lending, banks may grant loans at fluctuating rates compared with market rates after factoring in risk factors, creditability and type of industry. Given that the pricing adopted is within the framework of norms outlined by banks that are regulated by RBI, the Indian Banks Association is of the view that banks should be removed from the purview of such sections TYPICAL CASH FLOW The question arises that how the transfer price can be used as a mechanism to evade tax, especially between countries that have a treaty against double taxation. To explain this let’s take an example. Suppose there is an MNC shoe corporation with a subsidiary in India. The Indian subsidiary manufactures shoes at a cost price of Rs 50 per unit and supplies it to the MNC. The MNC sells the same shoes in its own country at Rs 200. To be fair, the transfer price, which the Indian subsidiary should get, is cost plus a reasonable rate of return (i. e. Rs 50 plus). This is where the MNC company calls the shots. In India, the corporate tax on profits is at 35%. Suppose for the MNC country the rate of tax is 45%. Case 1. The MNC decides that Rs 100 is the correct transfer price. Then the scenario looks like this: Transfer Price at Rs 100 |Indian subsidiary |MNC |Grand Total | |Cost price |50 |100 |   | |Selling price |100 |200 |   | |Profit |50 |100 |150 | |Tax |17. 5 |45 |62. 5 | |Net Profit |32. 5 |55 |87. 5 | The transfer price becomes the cost price for the MNC and thus it earns a profit of Rs 100 per unit. Post tax, its profit is whittled down to Rs 55. Overall, the total profit after tax earned by the MNC (including the subsidiary’s profit) is Rs 87. per unit. Case 2. The MNC decides that Rs 150 is the correct transfer price. Then the scenario looks like this: Transfer Price at Rs 150 |Indian subsidiary |MNC |Grand Total | |Cost price |50 |150 |   | |Selling price |150 |200 |   | |Profit |100 |50 |150 | |Tax |35 |22. 5 |57. 5 | |Net Profit |65 |27. 5 |92. 5 | The MNC’s profits post tax in its own country comes down to Rs 27. 5. But overall the profit surges to Rs 92. 5 per unit. Case 3. The MNC decides that Rs 200 is the correct transfer price. In such a case, the MNC earns zero profits in its own country, but its subsidiary pays a 35% tax on its profit of Rs 150 and thus overall net profit surges to Rs 97. 5. Transfer Price at Rs 200 |Indian subsidiary |MNC |Grand Total | |Cost price |50 |200 |   | |Selling price |200 |200 |   | |Profit |150 |0 |150 | |Tax |52. 5 |0 |52. 5 | |Net Profit |97. 5 |0 |97. 5 | Case 4. The MNC decides that Rs 300 is the correct transfer price. In this case, the MNC earns a loss of Rs 100 per unit of shoe sold in the home country. Meanwhile, its subsidiary earns Rs 162. 5 as profit, after paying Rs 87. 5 as tax. But the clever MNC gets a tax write off at home worth Rs 45 m. Transfer Price at Rs 300 |Indian subsidiary |MNC |Grand Total | |Cost price |50 |300 |   | |Selling price |300 |200 |   | |Profit |250 |-100 |150 | |Tax |87. 5 |-45 |42. | |Net Profit |162. 5 |0 |192. 5 | Please remember, these are just a few hypothetical simple situations. In reality, these dealings are much more complex with conglomerates having more than 50 subsidiaries in just as many countries. Transfer pricing became a subject of much debate in the western countries as government’s felt that corporates are down paying their fair share of tax. As a result, these countries spearheaded awareness regarding transfer pricing. Case Study High Court Rules Against Coca-Cola in Tra nsfer Pricing Case M Padmakshan Economic Times January 6, 2009 MUMBAI: The Punjab & Haryana High Court has ruled against Coca-Cola India's contention that the proof of profit transfer outside India is a precondition for applying transfer pricing rules. Coca-Cola had approached the high court after it was served a notice on transfer pricing. The soft drink company had an agreement to offer advisory services to Britco at the rate of cost plus 5%. Coca-Cola's main contention was that transfer pricing rules cannot be applied in the absence of prima facie evidence of profit transfer outside India. The high court said that India's transfer pricing rules can be applied to any cross-border transaction between associated enterprises, irrespective of profit transfer outside India. The court said the only requirement is income generation in a cross-border transaction and income has been computed at arms length. Coca-Cola told the court that transfer pricing rules were meant to check profit erosion outside India and therefore could not be applied in cases where there is no prima facie evidence of profit transfer outside the country. The high court did not accept this view. It held that existence of a cross-border transaction and computation of the resultant income at arm's length price are sufficient grounds for applying transfer pricing rules. According to Coca-Cola, the transfer pricing provisions have been incorporated in the Income-tax Act by the Finance Act 2001 and the applicability of these provisions has been limited to situations involving profit diversion outside India. There is no material evidence to show that profits have been diverted outside India, the company said. The court said that it is the prerogative of the income-tax department to issue such a notice and expressed its inability to intervene in the matter. Coca-Cola was assessed under I-T Act in 2004 for the year 1998-99. The dispute arose after the income-tax department concluded that the income had escaped assessment under the Income-Tax Act. FAIR USE NOTICE: – This document contains copyrighted material whose use has not been specifically authorized by the copyright owner. India Resource Center is making this article available in our efforts to advance the understanding of corporate accountability, human rights, labor rights, social and environmental justice issues. We believe that this constitutes a ‘fair use' of the copyrighted material as provided for in section 107 of the U. S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond ‘fair use,' you must obtain permission from the copyright owner. Arm’s Length Method Arm’s length, as the term indicates, means keeping a neutral balance between inter-corporate arms. The idea is that companies should treat each subsidiary as a separate entity and deal with them on purely commercial terms, as they would have if they transacted with any other market player. Arm’s length methodologies are of two types:- a) Transactional Methods b) Profit Methods Transactional Methods – Where focus is on the product or the technology to ascertain the correct transfer price. Transaction methods can be further divided into three broad sub-groups. ) Comparable Uncontrolled Price Method 2) Resale Price Method 3) Cost Plus Method (1) Comparable Uncontrolled Price (CUP) Method: The price charged or paid in a comparable uncontrolled transaction or a number of such transactions shall be identified. Such price shall be adjusted to account for differences, if any, between the related party transaction and the comparable uncontrolled transactions or between th e enterprises entering into such transactions, which could materially affect the price in the open market. The adjusted price shall be taken as arm’s length price. The uncontrolled transaction means a transaction between independent enterprises other than related parties and shall cover goods or services of a similar type, quality and quantity as those between the related parties and relate to transactions taking place at a similar time and stage in the production/distribution chain with similar terms and conditions applying. (2) Resale Price Method: The price at which the goods purchased or services obtained from a related party is resold or is provided to an unrelated entity shall be identified. Such resale price shall be reduced by the amount of a normal gross profit margin accruing to the enterprise or to an unrelated enterprise from the purchase and resale of the same or similar goods or services in a comparable uncontrolled transaction or a number of such transactions. The price so arrived at shall be further reduced by the expenses incurred by the enterprise in connection with the purchase of goods or services. Such price shall be further adjusted to take into account the functional and other differences including differences in accounting practices, if any, between the related party transaction and the comparable uncontrolled transactions or between the enterprises entering into such transactions, which could materially affect the amount of gross profit margin in the open market. The adjusted price shall be taken as arm’s length price in respect of goods purchased or services obtained from the related party. The resale price method would normally be adopted where the seller adds relatively little or no value to the product or where there is little or no value addition by the reseller prior to the resale of the finished products or other goods acquired from related parties. This method is often used when goods are transferred between related parties before sale to an independent party. (3) Cost Plus Method: The total cost of production incurred by the enterprise in respect of goods transferred or services provided to a related party shall be determined. The amount of a normal gross profit mark-up to such costs arising from the transfer of same or similar goods or services by the enterprise or by an unrelated enterprise in a comparable uncontrolled transaction or a number of such transactions shall be determined. The amount of a normal gross profit mark-up shall be adjusted to take into account the functional and other differences, if any, between the related party transaction and the comparable uncontrolled transactions or between the enterprises entering into such transactions, which could materially affect such profit mark-up in the open market. The total cost of production referred to above increase by the adjusted profit mark-up shall be taken as arm’s length price. It is also important here to ensure that the cost base to which mark-up is applied is comparable to the cost base of the third party transaction which serves as comparable. For example, it may be necessary to make an adjustment to cost where one person leases its business assets while other owns its business assets. The cost plus method would normally be adopted if CUP method or resale price method cannot be applied to a specific transaction or where goods are sold between associates at such stage where uncontrolled price is not available or where there are long term buy and supply arrangements or in the case of provision of services or contract manufacturing. Profit method- It has been further sub-divided into three sub-groups i) Profit Split Method ii) Transactional Net Margin Method iii) Authentication of Documents Provided by the Company (1) Profit Split Method: The combined net profit of the related parties arising from a transaction in which they are engaged shall be determined. This combined net profit shall be partially allocated to each enterprise so as to provide it with a basic return appropriate for the type of transaction in which it is engaged with reference to market returns achieved for similar type transactions by independent enterprises. The residual net profit, thereafter, shall be split amongst the related parties in proportion to their relative contribution to the combined net profit. This relative contribution of the related parties shall be evaluated on the basis of the function performed, assets employed or to be employed and risks assumed by each enterprise and on the basis of reliable market data which indicates how such contribution would be evaluated by unrelated enterprises performing comparable functions in similar circumstances. The combined net profit will then be split amongst the enterprises in proportion to their relative contributions. The profit so apportioned shall be taken into account to arrive at an arm’s length price This method would normally be adopted in those transactions where integrated services are provided by more than one enterprise or in the case multiple inter-related transactions which cannot be separately evaluated. 1) Transactional Net Margin Method : The net profit margin realized by the enterprise from a related party transaction shall be computed in relation to costs incurred or sales affected or assets employed or to be employed by the enterprise or having regard to any other relevant base. The net profit margin realized by the enterprise or by an unrelated enterprise from a comparable uncontrolled transaction or a number of such transactions, shall also be computed having regard to the same base. This net profit margin shall be adjusted to take into account the differences, if any, between the related party transaction and the comparable uncontrolled transactions or between the enterprises entering into such transactions, which could materially affect such net profit margin in the open market. The cost of production referred to above increase by the adjusted profit mark-up shall be taken as arm’s length price. The adjusted net profit margin shall be taken as arm’s length price. This method would normally be adopted in the case of transfer of semi finished goods; distribution of finished products where resale price method cannot be adequately applied; and transaction involving provision of services. (3) Authentication of the documents provided by the company The information/documents provided by the company to the auditor for certification as provided in clause 7 hereof shall be signed on behalf of the Board by the Company Secretary and at least one Director of the company. In the absence of Company Secretary in the company, the same shall be signed by at least two Directors of the company on behalf of the Board. [pic] The most appropriate method referred to in sub-section (1) shall be applied, for determination of arms length price, in the manner as may be prescribed: Provided that where more than one price is determined by the most appropriate method, the arms length price shall be taken to be the arithmetical mean of such prices, or, at the option of the assessee, a price which may vary from the arithmetical mean by an amount not exceeding five per cent of such arithmetical mean. ] Where during the course of any proceeding for the assessment of income, the Assessing Officer is, on the basis of material or information or document in hi s possession, of the opinion that:- (a)The price charged or paid in an international transaction has not been determined in accordance with sub-sections (1) and (2); or b)any information and document relating to an international transaction have not been kept and maintained by the assessee in accordance with the provisions contained in sub-section (1) of section 92D and the rules made in this behalf; or (c)The information or data used in computation of the arms length price is not reliable or correct; or (d)the assessee has failed to furnish, within the specified time, any information or document which he was required to furnish by a notice issued under sub-section (3) of section 92D, The Assessing Officer may proceed to determine the arms length price in relation to the said international transaction in accordance with sub-sections (1) and (2), on the basis of such material or information or document available with him: Provided that an opportunity shall be given by the Assessing Officer by serving a notice calling upon the assessee to show cause, on a date and time to be specified in the notice, why the arms length price should not be so determined on the basis of material or information or document in the possession of the Assessing Officer. Where an arms length price is determined by the Assessing Officer under sub-section (3), the Assessing Officer may compute the total income of the assessee having regard to the arms length price so determined: Provided that no deduction under section 10A 82[or section 10AA] or section 10B or under Chapter VI-A shall be allowed in respect of the amount of income by which the total income of the assessee is enhanced after computation of income under this sub-section : Provided further that where the total income of an associated enterprise is computed under this sub-section on determination of the arms length price paid to another associated enterprise from which tax has been deducted 83[or was deductible] under the provisions of Chapter XVIIB, the income of the other associated enterprise shall not be recomputed by reason of such determination of arms length price in the case of the first mentioned enterprise. While going through each of these methods, it becomes clear that all these methods are not definitive methods for ascertaining transfer prices. Being a complex subject, more fine-tuning is needed to finally get a definitive benchmark method for calculating the transfer price. As business between countries is likely to only increase in future, transfer-pricing issues would be subject of even more scrutiny not only by government and legal bodies, but also the companies’ respective shareholders. But there is a lot of ground still to be done in this area. Speaking on the sidelines of a budget analysis session organized by Confederation of Indian Industry, Rohan K Phatarphekar, executive director nd national head, global transfer pricing services KPMG India Private Limited said, â€Å"The Budget was not bad, there was too much of expectations from the market. What the Budget lacked was clarity, the government failed to lay down a concrete roadmap to bridge the fiscal deficit. † But significant changes were announced in the tax structure like removal of FBT, removal of 10 per cent surcharge on the higher bracket of i ncome tax, commitment to introducing GST. [pic] Difficulties in applying Arm’s Length Principle . Multinational Enterprises groups are dealing in the integrated production of highly specialized goods, in unique intangibles, and in the provision of specialized services. 2. Associated Enterprises may engage in transactions that independent would not undertake, example sale or license of intangibles. 3. Arm’s Length Price may result in an administrative burden for both the tax administrations of evaluating significant numbers and types of cross-border transactions. 4. Far placed geographical locations and confidentiality etc. may cause difficulty in obtaining comparable data. Transfer Pricing in IT Department Commercial transactions between the different parts of the multinational groups may not be subject to the same market forces shaping relations between the two independent firms. One party transfers to another goods or services, for a price. That price is known as transfer price. This may be arbitrary and dictated, with no relation to cost and added value, diverge from the market forces. Transfer price is, thus, a price which represents the value of good; or services between independently operating units of an organization. But, the expression transfer pricing generally refers to prices of transactions between associated enterprises which may take place under conditions differing from those taking place between independent enterprises. It refers to the value attached to transfers of goods, services and technology between related entities. It also refers to the value attached to transfers between unrelated parties which are controlled by a common entity. Example of using Transfer Pricing Suppose a company A purchases goods for 100 rupees and sells it to its associated company B in another country for 200 rupees, who in turn sells in the open market for 400 rupees. Had A sold it direct, it would have made a profit of 300 rupees. But by routing it through B, it restricted it to 100 rupees, permitting B to appropriate the balance. The transaction between A and B is arranged and not governed by market forces. The profit of 200 rupees is, thereby, shifted to the country of B. The goods is transferred on a price (transfer price) which is arbitrary or dictated (200 hundred rupees), but not on the market price (400 rupees). Thus, the effect of transfer pricing is that the parent company or a specific subsidiary tends to produce insufficient taxable income or excessive loss on a transaction. For instance, profits accruing to the parent can be increased by setting high transfer prices to siphon profits from subsidiaries domiciled in high tax countries, and low transfer prices to move profits to subsidiaries located in low tax jurisdiction. As an example of this a group which manufactures products in high tax countries may decide to sell them at a low profit to its affiliate sales company based in a tax haven country. That company would in turn sell the product at an arm's length price and the resulting (inflated) profit would be subject to little or no tax in that country. The result is revenue loss and also a drain on foreign exchange reserves Reference to Transfer Pricing Officer. 92CA. (1) Where any person, being the assessee, has entered into an international transaction in any previous year, and the Assessing Officer onsiders it necessary or expedient so to do, he may, with the previous approval of the Commissioner, refer the computation of the arm’s length price in relation to the said international transaction under section 92C to the Transfer Pricing Officer. (2) Where a reference is made under sub-section (1), the Transfer Pricing Officer shall serve a notice on the assessee requiring him to produce or cause to be produced on a date to be specified therein, any evidence on which the assessee may rely in support of the computation made by him of the arm’s length price in relation to the international transaction referred to in sub-section (1). 3) On the date specified in the notice under sub-section (2), or as soon thereafter as may be, after hearing such evidence as the assessee may produce, including any information or documents referred to in sub-section (3) of section 92D and after considering such evidence as the Transfer Pricing Officer may require on any specified points and after taking into account all relevant materials which he has gathered, the Transfer Pricing Officer shall, by order in writing, determine the arm’s length price in relation to the international transaction in accordance with sub-section (3) of section 92C and send a copy of his order to the Assessing Officer and to the assessee. 4a[(3A) Where a reference was made under sub-section (1) befo re the 1st day of June, 2007 but the order under sub-section (3) has not been made by the Transfer Pricing Officer before the said date, or a reference under sub-section (1) is made on or after the 1st day of June, 2007, an order under sub-section (3) may be made at any time before sixty days prior to the date on which the period of limitation referred to in section 153, or as the case may be, in section 153B for making the order of assessment or reassessment or re computation or fresh assessment, as the case may be, expires. ] 84b[(4) On receipt of the order under sub-section (3), the Assessing Officer hall proceed to compute the total income of the assessee under sub-section (4) of section 92C in conformity with the arm’s length price as so determined by the Transfer Pricing Officer. ] (5) With a view to rectifying any mistake apparent from the record, the Transfer Pricing Officer may amend any order passed by him under sub-section (3), and the provisions of section 154 sha ll, so far as may be, apply accordingly. (6) Where any amendment is made by the Transfer Pricing Officer under sub-section (5), he shall send a copy of his order to the Assessing Officer who shall thereafter proceed to amend the order of assessment in conformity with such order of the Transfer Pricing Officer. 7) The Transfer Pricing Officer may, for the purposes of determining the arm’s length price under this section, exercise all or any of the powers specified in clauses (a) to (d) of sub-section (1) of section 131 or sub-section (6) of section 133. Undesirable Corporate Practices Related to Transfer Pricing Some of the related party transactions, which are usually resorted to for diversion of funds are detailed below. (a)  Ã‚  Ã‚   Purchase of goods or services from a related party at little or no cost or at inflated prices to the entity. (b)  Ã‚   Payments for services never rendered or at inflated prices. (c)  Ã‚  Ã‚   Sales at below market rates to an unnecessary â€Å"middle man† related party, who in turn sells to the ultimate customer at a higher price with the related party (and ultimately its principals) retaining the difference. (d)  Ã‚   Purchases of assets at prices in excess of fair market value. e)  Ã‚  Ã‚   Use of trade names or patent rights at exorbitant rates even after their expiry or at a price much higher than the price, which can not be described as reasonable. (f)  Ã‚  Ã‚  Ã‚   Borrowing or lending on an interest-free basis or at a rate of interest significantly above or below market rates prevailing at the time of the transaction. (g)  Ã‚  Ã‚   Exchanging property for similar property in a non monetary transaction. (h)  Ã‚  Ã‚   Selling real estate at a price that differs significantly from its appraised value. (i)  Ã‚  Ã‚  Ã‚  Ã‚   Accruing interest at above market rates on loans. Associated Enterprise. 92A. (1) For the purposes of this section and sections 92, 92B, 92C, 92D, 92E and 92F, associated e nterprise, in relation to another enterprise, means an enterprise a)Which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise; or (b)In respect of which one or more persons who participate, directly or indirectly, or through one or more intermediaries, in its management or control or capital, are the same persons who participate, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise. (2) 77[For the purposes of sub-section (1), two enterprises shall be deemed to be associated enterprises if, at any time during the previous year,] (a)one enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent of the voting power in the other enterprise; or b)any person or enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent of the voting power in each of such enterpris es; or (c)a loan advanced by one enterprise to the other enterprise constitutes not less than fifty-one per cent of the book value of the total assets of the other enterprise; or (d)One enterprise guarantees not less than ten per cent of the total borrowings of the other enterprise; or (e)more than half of the board of directors or members of the governing board, or one or more executive directors or executive members of the governing board of one enterprise, are appointed by the other enterprise; or f)more than half of the directors or members of the governing board, or one or more of the executive directors or members of the governing board, of each of the two enterprises are appointed by the same person or persons; or (g)the manufacture or processing of goods or articles or business carried out by one enterprise is wholly dependent on the use of know-how, patents, copyrights, trade-marks, licenses, franchises or any other business or commercial rights of similar nature, or any da ta, documentation, drawing or specification relating to any patent, invention, model, design, secret formula or process, of which the other enterprise is the owner or in respect of which the other enterprise has exclusive rights; or h)ninety per cent or more of the raw materials and consumables  required for the manufacture or processing of goods or articles carried out by one enterprise, are supplied by the other enterprise, or by persons specified by the other enterprise, and the prices and other conditions relating to the supply are influenced by such other enterprise; or (i)the goods or articles manufactured or processed by one enterprise, are sold to the other enterprise or to persons specified by the other enterprise, and the prices and other conditions relating thereto are influenced by such other enterprise; or (j)Where one enterprise is controlled by an individual, the other enterprise is also controlled by such individual or his relative or jointly by such individual and relative of such individual; or k)Where one enterprise is controlled by a Hindu undivided family, the other enterprise is controlled by a member of such Hindu undivided family or by a relative of a member of such Hindu undivided family or jointly by such member and his relative; or Chapter 2 Objectives of the Study Objectives of the Study:- Primary Objectives: 1) To study the acceptability of different methods of Transfer Pricing in the companies. 2) To find out the ways of applying Arm’s Length Method and the results of it. 3) To study the different terms like Associated Enterprises, Transfer pricing officer, International Transaction & Subsidiary company etc. Secondary Objectives 1) To identify various other ways of managing the profit of the company. 2) To analyse different ways of applying extra cash flow. ) To find different ways of Transfer Pricing which are applicable under Income Tax Act 1961. Chapter 3 Company Profile COMPANY PROFILE PARAMOUNT Established in 1993, P aramount Surgimed Ltd. manufactures wide range of Surgical Blades, Scalpels which cover General Surgery and other Surgical Area viz: Gastroentrology, Urology, Orthopedic & General Surgery etc. Paramount Surgimed Ltd. is exporting their products in more than 50 countries. Paramount Surgimed Ltd. is first Company who has been approved by ISI, ISO 9001 & FDA registered company and their products are CE marked. A guiding sense of concern for mankind and a mission to realize richer human life led to the birth of PARAMOUNT SURGIMED LTD. Paramount has grown with a reputation of specializing in manufacturing of a wide range of single use medical and surgical devices such as Surgical Blades, Disposable Scalpels, Stitch Cutters and Skin Graft Blades. Paramount has its corporate head office in New Delhi, the capital of India & operates its major production activities from Bhiwadi in Rajasthan. This has a floor space of 30000 sq. ft. on 10000 sq. meter. plot and a mere 60 km from the Capital City. The facilities comprise of latest state – of – the – art – manufacturing unit comparable to international standards. Paramount is committed to exceed it’s customer's expectations. All aspects of manufacturing and packaging is done in a clean & controlled environment. We adhere to the policy of strict quality control without mercy by making use of in – house test laboratory, for competitive quality assurance at all times. Blades are sterilized through Gamma Radiation in New Delhi. We are an ISO 9000: 2000 company and the products are CE marked. Our products are also registered with various health ministries around the world. Vision Statement Today India is at the down of the millennium’s exciting future with the liberalization and the opening up of its economy. The world is taking a look at India, her products, and her enterprises. With a vision of being a global leader in Medical Disposables, Paramount Surgimed Ltd. dedicates itself to the crucial sector. Mission Statement We at  Paramount Surgicals, Inc are committed to  design, manufacture and distribute finest spinal implant and instruments. Since its beginning, Paramount Surgical, Inc has stood for one capability above all others – the ability to Innovate. Innovate  is a sense of possibility that allows for freedom beyond mere innovation. We strive without reserve for the greatest possible reliability and quality of our products and to be recognized in the market for our dedication, honesty and services. Paramount Surgimed Limited has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for our Corporate Web site: www. paramountblades. com. . R & D Technology Mission We fully understand the grave implications of technology and are constantly on the move to keeping abreast with rapid technological development towards the quest for excellence in the field of Medical & Surgical disposables. The R & D department not only helps in developing new products and their manufacturing technologies but also in improving existing ones. Quality Commitment Paramount has kept alive quality as a legacy in which quality is not an end but a vehicle for seeking excellence & perfection at all stages. We are committed to exceed our customer's expectations. All aspects of manufacturing and packaging is done in a clean & controlled environment. We adhere to the policy of strict quality control without mercy by making use of in – house test laboratory, for competitive quality assurance at all times. Blades are sterilized through Gamma Radiation in New Delhi. We are an ISO 9000 : 2000 company and the products are CE marked. Our products are also registered with various health ministries around the world Step in to the Future Encouraged with the continued impressive performance, Paramount has decided to expand & diversify in to the other related areas, targeting the year leading into 21st century. Paramount will build additional new manufacturing facilities equipped with latest technologies in the field of healthier business. The responsibility and obligation to the customer to supply the best products in every way is the power of its efforts. Like the tip of an iceberg, only a small part of its work is visible. The significant strength however is the use of most progressive and modern technologies, and the untiring efforts of its employees, who continue to strive for more efficient and better solutions. Response by placing repeat orders for years together, Paramount has a sustained and consistent growth. OSIM Delhi based Paramount Surgimed Ltd. has signed a Master Franchisee Agreement with OSIM International Ltd. , over $ 300 million company and Singapore's largest manufacturer of lifestyle products to import and trade OSIM products in India and Nepal through OSIM India, a division of Paramount Surgimed Ltd. Established in 1980, OSIM is the No. brand in lifestyle products in Singapore, Hong Kong, Taiwan, and Malaysia, UK & USA, Australia, Canada and over 22 franchisee all over the world. OSIM produces superior designs focusing and following ergonomic guidelines along with quality features. OSIM India has opened 23 outlets in the country in just one year. These include outlets in Delhi, Gurgaon, Ludhiana, Kolkata Bangalore, Chennai, Mumbai, Hyderabad, Pune and Indore. By the end of this year it plans to expand and set up a total of 25 more outlets. Quality As we offer lifestyle products related to health, quality is the most important factor that, we take special care of. Our products are completely flawless and stand at par even with the international standards. All our products are checked and tested under strict supervision of experts and doctors, so that they do not cause any adverse health effects. Specially equipped with quality experts who individually examine the products themselves so that our clients can use it in a comfortable way. Fully guaranteed our products have been manufactured with complete care, perfection and precision by world class procedures. Believing in the motto â€Å"quality begins with us†, we have earned enormous accolades. Operations 1. Human Resource:- The Company is having a manpower of around 530 employees all over India. To maintain the proper management on this vast manpower, the company uses the Master Software, â€Å"Portal Data Management†. The turnover ratio of manpower is around 110 employees in a year. Process of Recruitment- To do the recruitment firstly the Manpower assessment is done, then approval is taken from the Heads, HOD’s and then permission is taken from COO’s Basically the company tries to fill the gap internally, by posting the existing employee at the new post, personal sources of employees, their relatives and friends and then if necessary it uses the job portals available on-line and scrutinize the resumes available there. Then the company conduct interview (no G. D. is done), firstly with HR personals then with concern HODs. This process ends for the post of a Front line officer. If a higher person is to be recruited then the interview with COO is also conducted. Then the final result is taken regarding that candidate. Documents to be carried on the date of joining and everything else except the salary (salary is included because many person negotiate other companies on the basis of this LOC) Probationary Period for the new employee remains for 6 months and after that, if he/she (if found suitable), is given permanent employee certificate. Training and Development- Generally the training is provided in the concerning departments only by the employees already working over there. Basically two types of training is provided. i. Product/Technical Training- In this, the training is provided regarding the products of the company and also the work which the new employee is to be done. This includes the hard core training. ii. Soft skills/Non-technical Training- In this training, the soft skills are taught to the candidate, like the behavior of the employees, working conditions, organizational culture etc. Time to time the employees development programs are also conducted to motivate the employees i. e. to understand their personal problem, solving it out, developing their career path, etc 2. I. T. The company is having one single IT department to control all the data base management and all the networking facilities. This department is in head office. The company uses its own made OSIM Software to keep the data and all of its branches are using the same software, which is downloaded by the head office personals with the SQL information. The company is also engaged in on line merchandizing, it makes online sales also with the help of its website. It uses OSIM India as the selling website which is fully organized by the Head Office only. 3. Accounts The Company’s Accounts Department is near to Head Office. The Accounts Department is having a workflow of 25 members who are handling the accounts of the different branches of the Company. The Company is using Tally 9 Software along with MS Office to maintain the records of the customers 4. Marketing:- The Company is having a highly powerful Marketing activity which is the biggest strength of the company. The products of Paramount are traded in both domestic and international markets. Our medical products are being exported to more than 40 Countries across the world like USA, Asia, and South Africa etc. Moreover, OSIM is declared as Asia No. 1 healthy lifestyle brand in consumers’ minds It basically having two types of Sale i. e. a) Corporate- The Company is having almost 35% of its total sales in the Corporates. Its Corporate clients includes ONGC, Japee Hotels, Indian Oil, Hyath Group of Hotels, Apollo Tyres, Apollo Hospitals, Heritage Hospitals, Fortis Hotels etc. The Company is having a big ratio of its sales in Indian Army and other PSU’s b) Retails- The Company’s Retailing is very strong. Almost 65-70% of its sales is based on Retailing. Its Retailing is very wide, which is divided in three modes i. Showrooms- The Company has opened its own Showrooms in different parts of the country, including Chandigarh, Delhi, Ludhiana, Ahemdabad, Kerla, Hyderabad, and many other places. The Showrooms are exclusively defined, and highly modernized, with all the facilities for the visitors. ii Shop in Shops- At many places the Company is having its shops in different shops. This is a very new concept which provide the firm to save money and also having more attention form the visitors along with standing with other different renowned Brands. iii Road Shows- The company has a mode of selling through Road Shows. Road Shows are very popular in Metro Cities and a large amount of sales of the Company is dependent on that. The Company is having its all time Road Show in Delhi, Bangalore, Kolkata, Chennai etc. Products iMedic Chair Revolutionary chair designed for precise massage The new OSIM iMedic Chair is the first of its kind to cater to the specific needs of every individual by detecting the precise location of acupressure points along the back. With more than 300 acupressure points in the body, every person’s body shape is as different as the shape of our face. Determining the exact body shape of the use allows a more sensitive massage to be applied effectively to just the right spot, helping to relieve fatigue and neuralgia, promote blood circulation, ease muscle strain and stiffness, leaving you feeling relaxed all over. Sit back, close your eyes and sink into the luxuriousness of the OSIM iMedic Chair as you relinquish your body to the ultimate massage experience. Detecting Acupressure Points: While seated deeply into the OSIM iMedic Chair with your head resting comfortably on the headrest pad, select any of the 8 comprehensive massage programmes. Before commencement of any programme, the massage rollers automatically glide along the length of your back to detect the acupressure points via 2 infrared sensors. Once detected, you can look forward to a massage experience unlike any other. Shoulder Position Adjustment: You can further personalize the massage programmed by adjusting the position of the rollers at your shoulder area, so you can pinpoint the massage precisely where you want it. Well-being Programmes: These 3 relaxing programmed are designed to enhance your health by adapting massage treatment to your daily routine. Morning Programme: For those who feel an ongoing tiredness and a lack of energy during the day, giving you the extra perk you need Night-time Programme: Use at the end of the day to fully relax your body and prepare you for a good rest. Useful if you suffer from insomnia. Seat Programme: Massages the hip area using a combination of vibration action and seat message. Useful for relief of constipation discomfort. Luxurious Comfort Versatile Design The OSIM iMedic Chair has been designed with features to raise the level of comfort to unparalleled heights. Fully Automatic Reclining System: Recline the backrest and/or the footrest independently at the siple touch of the Remote Controller to find the position that suits you best. Adjustable Angle: The backrest can be reclined up to 170 degree for greater comfort. Extendable Footrest: The footrest can be easily extended to cater to the height of the user. Auto-Timer: Whichever programme you chose, it will automatically run for a maximum of 15 minutes, allowing you to relax your mind while the OSIM iMedic Chair relaxes your body. However, you can turn the programme off or switch to a different programme at any point and the timer will reset automatically. Total Remote Control: A comprehensive Remote Controller with two LCD display screens controls all programmes and functions for an uninterrupted massage session. Anti-bacterial Upholstery Covers: The upholstery covers are specially coated with an anti-bacterial treatment, keeping bacteria like Staphylococcus, Yellow Coliform Bacilli and MRSA at bay. They are completely removable for easy cleaning. Available in white, black, latte and olive. Foldable Backrest and Castors: For easy storage and transportation. Paramount Surgimed Ltd, New Delhi has been chosen as Master Franchise to represent OSIM in India. OSIM India A Division of Paramount Surgimed Ltd shall be promoting a wide range of OSIM products through our exclusive showroom to start with in New Delhi and followed by in other cities. OSIM International Ltd, Singapore came in to existence in the year 1980 with the aim to provide a healthy lifestyle to the mankind. From a humble start to $287. 4 million company, today OSIM is promoting its products through is Master Franchise in over 20 countries. OSIM INDIA is coming up with a top of the line massage chair in India Millennium Chair OS – 747iv: The Master Of Relaxation. Equipped with a specially designed roller system, which moves in a wavelike motion along your spine to effectively massage muscoes relieve aches and stiffness. Bliss Chair NR-90: Complete Relaxation from Top to toe. Full body massage with a unique reversible footrest, which gives you a choice of resting your legs, or treating your feet and calves to a stimulating massage. Apart from the above products we have a Reflexologist, i Twin, Foot Reivitalizer 2, Tappie (Handy Massager), Warm Air Turbo, eHuman-logic BPM, Pro Therapist, Massuer Chair, Hair Brush, Ear Scan, Health Sole, Eye Care Massager, Large Gel Pad, Samll Gel Pad, VF scan, e-Body fat Scale, Fever Band, Handy Neb, Ultrasonic Neb, Instant Heat Pad (small), Slim Belt (Aerobics), Slim Belt (Body Shaping), Slim Belt (back support), Slim Belt (Extra Support), Spare Wire, Upholstery for OS777, Music CD for OS777, I. Sense Upholstery for OS757 to add to the big range of products. Chapter 4 Research Methodology RESEARCH METHODOLOGY Methodology is the bone of a project. It has also an important place as regards to cash management system project. It helps us in Collection and analysis of data in preparing the project. My Research is purely a Descriptive Research, which includes understanding and analyzing Transfer Pricing and its different Method. My sources of collection of data must be very much reli able, so secondary data collection method is used for the purpose of the project for the Price Management System. I have gone very deeply in preparing the project & I devoted my full attention to get the accurate & real data collection. For this purpose I became in close contact with sources of data collection by personally & through Internet. The Methodology contains the following things:- †¢ Methods of Data Collection :- For the project report, methods of data collection has an important role in connection with accuracy & exact information. So, I adopted both the methods primary as well as secondary method of data collection. A) Primary Data : Throughout the preparation of the project report, I was in the contact of CFO & other staff of finance department of Paramount Surgimed Ltd. o get the information in connection with the practical working of transaction between the company & banks. B) Secondary Data: I have also collected the information, figures & data in connection with the preparation of project report from Balance-sheet & annual report of Paramount Surgimed Ltd. I have also colle cted the information about cash management, services & Latter of Credit provided by the bank to the company. Along with it I have collected information about the topic from the Internet and also form many of my friends and colleagues who have worked over on the similar kind of projects or who are having a good command over the subject. Sources of Data :- Sources of collection of data for a project report has a very