Warehousing and Inventory Management Essay Example | Topics and Well Written Essays - 3500 words

Warehousing and Inventory Management - Essay Example Traditional warehousing and inventory management processes need to be replaced with modern automated electronic systems to remain competitive. The process of warehouse and inventory management involves recording and tracking of materials on a quantity and value basis (Tompkins, J.A. and Smith, J.D., 1998). Warehousing and inventory management includes all the process for planning, entry, and documentation of goods movements. Warehouse Management Processes cover warehouse-internal movements and storage of materials. Planning a new warehouse requires some basic decisions. Before starting planning you need to increase available space to its optimum level by using some basic common sense such as getting rid of any junk equipment or goods that is not required to be stored, using JIT deliveries and shorter runs to reduce inventories and use of racks (Tompkins, J.A. and Smith, J.D., 1998, David E. Mulcahy, 1993). All successful warehouse layouts must accomplish the following objectives, regardless of material being stored: Warehouse space planning should be done keeping in mind the nature of inventory. For example you have to design deep rows if your warehouse is intended to store large quantities of few SKUs and you need to plan shallow rows with many faces if you are going to store small quantities of many SKUs. Planning aisle width depends on your decisions such as the type of trucks you will be using and priority among time and space. Aisle width should be according to width of lift trucks used, it should allow free movements of truck. Planning Rows: Planning rows also depends upon the size of lift trucks used. Space between rows should allow a free movement while saving space. Planning Docks: You should take extra care for planning docks as these are busiest part of warehouse operation. Number and placing of the docks depends upon the estimation of how many lift trailers will be handled and of what sizes. Following figure (source: Askin and Standridge) shows a basic ideal lay out: Systematic Layout Planning It is a manual design methodology developed by Muther (Richard Muther, 2004). Following diagram shows various steps of a systematic layout planning: The basic steps of this method are: Data collection (type of goods, Quantity of each product to be produced, Routing for each product, and the Schedule of delivery) and Flow Analysis to identify in and out of goods. It considers quantity of material flow, as well as overall flow lines that could be better in the implementation of departments. Quantitative analysis: analysis of quantifiable factors such as flow costs. Quantitative analysis is done using relationship diagrams. Relationship Diagram: these diagrams are used to quantify relation between source and various destination of delivery. It combines quantitative and qualitative analysis. Relationship diagrams are used for efficient layout planning (Maida Napolitano, 2003). Relationship diagram is the quantitative matrix containing the level of interaction

Am I Blue by Alice Walker Essay Example | Topics and Well Written Essays - 500 words

Am I Blue by Alice Walker - Essay Example Simply put, it is impossible to disagree with the idea that we consider animals to be free and that we are kind to the animals around us. It is hypocritical for a society to suggest that animals are treated with kindness while we hold them prisoner in racks, force-feed them, use them as beasts of burden, take away whatever they can produce for us and then eat them since we are omnivores. Moreover, we do what we want to the animals and to the planet we live on simply because we have been given dominion. Undoubtedly, the article has powerful imagery and makes it quite clear than consuming meat only makes us a part of the system which is cruel to animals while keeping us in a bind of hypocrisy. So perhaps the better suggestion would be to stop the hypocrisy in society and be clear about how we feel about animals in general. The cute ones we will save and preserve e.g. the polar bear or the panda, the ugly ones can go extinct for all we care e.g. the Komodo dragon and the dodo, while the ones which provide us with food will undergo genetic treatment to give us as much as we want in terms of meat and dairy products. It seems that there is nothing wrong in being honest since we have used animals for centuries and even hunt them for our sport, race them for our gambling, sacrifice them for our religions and exterminate them when we need more land for our cities. So perhaps it is time for being honest since despite the articles written by those who support animal rights, it is not likely that McDonald’s is going to stop selling double quarter pounders any time soon. So the idea of being ‘kind’ and ‘humane’ is little more than a lie which we tell ourselves to keep us happy. It is said that once a person sees sausages being made, s/he would never eat them. Perhaps it is time we realize that the sausages we make and the various types

The Battle of Dunkirk

The Battle of Dunkirk Rami Redha The Battle of Dunkirk lasted from around May 25 to June 3, 1940. After the Phony War, the Battle of France began on 10 May, 1940. German armour burst through the Ardennes region and advanced rapidly driving north in the so-called sickle cut. To the east the Germans invaded and subdued the Netherlands and advanced rapidly through Belgium. The combined British, French and Belgian forces were split around Armentià ¨res. The German forces then swept north to capture Calais, holding a large body of Allied soldiers trapped against the coast on the Franco-Belgian border. It became clear to the British that the battle was lost and the question was now how many Allied soldiers could be removed to the relative safety of England before their resistance was crushed. From May 22 preparations for the evacuation began, codenamed Operation Dynamo, commanded from Dover by Vice-Admiral Bertram Ramsay. He called for as many naval vessels as possible as well as every ship capable of carrying 1,000 men within reach. It initially was intended to recover around 45,000 men of the British Expeditionary Force over two days, this was soon stretched to 120,000 men over five days. On May 27 a request was placed to civilians to provide all shallow draught vessels of 30 to 100 feet for the operation, that night was the first rescue attempt. A large number of craft including fishing boats and recreational vessels, together with Merchant Marine and Royal Navy vessels, were gathered and sent to Dunkirk and the surrounding beaches to recover Allied troops. Due to heavy German fire only 8,000 soldiers were recovered. Another ten destroyers were recalled for May 28 and attempted rescue operations in the early morning but were unable to closely approach the beaches although several thousand were rescued. It was decided that smaller vessels would be more useful. The Allied held area was reduced to a 30 sq km by May 28. Operations over the rest of May 28 were more successful, with a further 16,000 men recovered but German air operations increased and many vessels were sunk or badly damaged, including nine destroyers. On May 29, the German armour stopped its advance on Dunkirk leaving the operation to the slower infantry, and the Luftwaffe (Hermann Gà ¶ring, then in great favour with Adolf Hitler, had promised air power alone could win the battle) but due to problems only 14,000 men were evacuated that day. On the evening of May 30 another major group of smaller vessels was dispatched and returned with around 30,000 men. By May 31 the Allied forces were compressed into a 5 km deep strip from La Panne, through Bray-Dunes to Dunkirk, but on that day over 68,000 troops were evacuated with another 10,000 or so overnight. On June 1 another 65,000 were rescued and the operations continued until June 4, evacuating a total of 338,226 troops aboard around 700 different vessels. Source 8 was an artists of the Dunkirk evacuation by Charles cundall, an official war artist. In the painting you can clearly see the smoke from the bombed out harbour there is enough evidence in source 8 to support the interpretation: â€Å"Dunkirk was a great deliverance and a great Defeat†. Source 8 shows how it was deliverance and how it was a Defeat. The source is a painting by Charles Condell he shows lots of ships and people getting to these ships but also show a lot of explosions and mayhem. The deliverance in this painting would be the fact that so many troops are boarding the ships and getting home alive. The disaster in this painting is the fact there are so many dead on the beaches and there are ships on fire. This source cannot however be completely reliable because the painter could not have been on the beach painting this picture so he was either far away or this painting is an image he had remembered from the day. He was also an official war artist so this pa inting could have been used by the government as propaganda to show the British people that despite the bombing and strafing of the beaches the British people never gave up in saving the B.E.F. Source 19 is an account by an RAF pilot of what he saw when he reached the beaches. He mentioned the air attacks on the beaches and said things like

Free Essays - A Farewell to Arms as Historical Romance :: Farewell Arms Essays

A Farewell to Arms - Historical Romance The novel "A Farewell to Arms" should be classified as a historical romance. Many people in reading this book could interpret this to be a war novel, when in fact it was one of the great romance novels written in its time. When reading this book you notice how every important event of the war is overshadowed by the strong love story behind it. The love story is circled around two people, Frederic Henry and Catherine Barkley. Frederic is a young American ambulance driver with the Italian army in World War I. He meets Catherine, a beautiful English nurse, near the front of Italy and Austria. At first Frederic’s relationship with Catherine consists of a game based on his attempts to seduce her. He does make one attempt to kiss her, and is quickly slapped by an offended Catherine. Later in the story, Frederic is wounded and sent to the American hospital where Catherine works. Here he finds a part of him he has never had before, the ability to love. This is where his feelings for Catherine become extremely evident. Their relationship progresses and they begin a passionate love affair. After his stay in the hospital, Frederic returns to the war front. During this period, Hemmingway heavily indicates the love Frederic has for Catherine. It is evident that Frederic is distracted by his love for Catherine. During a massive retreat from the Austrians and the Germans, the Italian forces become disordered and chaotic. Frederic is forced to shoot an engineer sergeant under his command, and in the confusion is arrested by the Italian military police for the crime of not being Italian. Disgusted with the Army and facing death, Frederic decides he has had enough of the war; he dives in to the river to escape. After swimming to safety, Frederic boards a train and reunites with Catherine. She is pregnant with their baby. With the help of an Italian bartender, Catherine and Frederic escape to Switzerland, and plan to marry after the baby is born. When Catherine goes into labor, the doctor suddenly discovers that her pelvis is too narrow to deliver the baby. He attempts an unsuccessful Cesarean section, and she dies in childbirth with the baby. To Frederic, her dead body is like a statue; he walks back to his hotel without finding a way to say goodbye, seemingly lost forever.

Bowles-Simpson Essay

Bowles-Simpson Proposal Essay By the year 2012, the American economy has crossed through large paths of downfall and unsustainability. Many aspects of such inconsistency surround this issue; foreign debt, public spending, and real state price drops are some facts that indicate an unstable economy. Furthermore, current president of the United States Barack Obama has approved a plan that will help stabilize the economy in the long run; this plan has targeted to reduce the federal deficit by cutting spending and raising taxes.Moreover, this plan was introduced in 2010 by co chairs Alan Simpson and Erskine Bowles of President Barack Obama’s deficit commission as stated above, to raise the economy in the long run. As of now, revenue isn’t much of a problem, but spending is. Since debt is rising due to spending (taking only this example), the private sector is put in risk of being put out of the market. This would affect small businesses, which are a strength in the American economy since they will not be able to grow and create more jobs, which simultaneously helps the economy.Indeed, the goal of this plan is to reduce deficit to 2. 2% of the gross domestic product by 2015, reduce deficit growth between now and 2020 by 3. 8 trillion dollars, and reduce debt as percentage of GDP to 40% by 2037. All this is being linked with the reduction of spending and tax rises. Accordingly, this plan induces a huge tax reform due to the fact that the current tax rates would be modified. In addition, the alternative minimum tax would be eliminated, as well as the child tax credit and the mortgage interest deduction.It is calculated that if this is taken in mind, there would be a deduction of $ 1. 1 of tax expenditures and in should increase tax revenues. Consequently, it seems that eliminating the mortgage interest deduction would mark a difference positively since it is one of the key elements funding an overemphasis on homeownership in the United States. On the othe r hand, eliminating the health insurance deduction would cause a healthcare reform. That deduction is actually a pillar of the current employer-based health insurance system. Thus, removing this deduction will orce families move on into the individual health insurance market, if no other adjustments are done. Meanwhile, the proposal expects to raise the cap on taxable wages through 2050 to cover 90 % of all national wages. This would simultaneously increase the program’s revenues and would also increase the total payments going out. Moreover, one thing that the Bowles-Simpson plan aims for revenues to be capped at 21 % of GDP and spending to be brought down to the same level. Such target is actually a redundant number. In order to achieve these cuts, some tactics have been put in the table.One item that increases the revenues in the plan is its provision to include newly hired state and local workers after 2020. This would in the near term tap more tax revenue for the system and in the long run would obligate additional benefit payments. Also, this provision does not contribute to long-term Social Security sustainability. If it were dropped, then the plan would tilt in the direction of cost containment over almost any time period measured. Medicare takes a big part in the proposal since the idea is to hold growth of federal health spending to growth of GDP by 1 %.Such cuts are proposed by paying less to doctors, as well as drug companies, and health care providers. Nevertheless, a reform on social security has put in place as well, and it is to add minimum benefits for minimum wage workers to ensure that they are above the poverty level. In other words, the plan aims to ensure that no one retires into poverty after a full working career. On the other hand, this does not reduce cost but it actually increases them. The plan to reduce costs is to make a balance under the benefits by offering fewer benefits for the more wealthy being.Such action will change the current social security; savings plans will no longer be at a long term for individuals, but a more or less direct welfare program. Hence, the Bowles-Simpson proposal is indeed a fairly tax increase and highly progressive, not to forget that the main goal of this proposal is to eliminate almost all tax expenditures. Putting the numbers on the table, in 2015, the lowest earners would face an average cut in their after-tax income of 3. 4 percent or about $ 400. For middle-income households, there would be a cut of 4 percent on their after-tax income.And on the top of the mountain, while will be cataloged as the highest earners, they would lose about 5. 3 % or about $ 70,000. It seems that the numbers do not lie; the low-income households and the top income households would be hit by a tax increase, while the upper middle class would have a small tax cut of 1 percent. In conclusion, this plan is a step forward with a few points, which I disagree. First, the measurements on tax rat es seem fairly reasonable but it does not seem to mark a tax reform. The tax code is still under its same complexity.It looks like it would bring revenue, but there are still politics to be discussed. Additionally, it does not seem to specify that tax cuts be used to eliminate national debt. On the other hand, it proposes to cut on health care spending since health care costs are pretty high, which simultaneously brings more national debt. As well, I think the proposal have some kind of gaps, but there is also a debate between republicans and democrats, to see if there is a balance in between both sides since republicans do not really like the idea of tax increases, and democrats are unhappy about the spending caps.

Innovative Product

Introduction Nowadays, innovative is an essential advantage in this dog-eat-dog market for every organization. Innovative can be everything that is new and not exist in current market, however in order to fulfill the gap in this demanding market, organizations must be very innovative to come out with new products and services. Organizations nowadays are recruiting employees who are creative and innovative because they are person who have sensitive antenna to sense and observe what the people want and need.In current market, thermos water bottle is very common for people to store their drinks; because thermos water bottle allows people to keep their drinks cold or warm for a very short period of time. Therefore, there would be a gap exists where the people want to drink cold or hot beverage at anytime and anywhere they want. To fulfill this gap, DualBottle has came out as it is a thermos water bottle which has the function of heating and freezing the beverage inside the thermos water bottle at anytime the customer wants.In other words, DualBottle will act like a refrigerator to chill the water as cold as it can or heating up the water just like a water boiler. In the current market, there is no similar product that has the function like DualBottle and this innovative product will bring in another level of convenience to the consumers in the market. Hence, people may want this new product to be in the market. In fact, water bottle in the current market is only used for storing water and sometimes not even suitable to store hot water as some water bottles have no qualified certificate because it is made of lower quality of plastic.In addition, DualBottle enables people to get hot or cold water easily in their daily activities. In this assignment, we are going to discuss in-depth on market research of DualBottle and also new product descriptions and specifications. Market Research Direct competitors There are several direct competitors for DualBottle which they hav e the similar types of product in the same market such as heaters, coolers and normal water bottles. In this case, keeping on track on consequential technological innovations is very important for a particular company to maintain a competitive advantage in the market.Firstly, the innovative product will have certain competition and comparatives with those existing and well-known brand like Thermos, Zebra, Camelback, Klean Kanteen, SIGG, Cheeki, Eco vessel and many more. These brands are the direct competitors for the DualBottle because these brands produce quality stainless steel and aluminium water bottles similar to the DualBottle but of course every brand has its specialty of their own products such as the designs, different attractive colors, functions, specifications, future and its outlook.These brands are the main direct competitors for DualBottle because both these products from these brands have the similar functions of heat preservation and have these brands are historical as compared with the new product. Though our new innovative product, DualBottle can reheat and re-chill the drinks; however, the existing of the products can only help to maintain the heat and the warmness of the drinks. In fact, people may be more likely to choose old brand due to brand loyalty and influenced by the power of word of mouth.The brand new product might be very novel yet it is still under the observation period to attract and being recognized by the people. On the other hand, old products are more creditable and always have good comments from one consumer to another consumer. Indirect competitors Beside those direct competitors, there are a number of indirect competitors for the DualBottle. Indirect competitors are the competitors that compete with the DualBottle indirectly. For example refrigerators that can cool the water, this is an indirect competitor because households have refrigerators at home.So it is considered as an indirect competitor. On the other hand, th e kettle and hot water flask are also indirect competitors to the DualBottle because at home people use kettle to boil water and hot water flask because the flask is to keep the hot water to remain hot. Other than that, Mineral waters that are sold in sundry shops, supermarkets, convenient shops, and other places are considered as indirect competitors because they have cold beverages and warm beverages separately. Instead of purchasing DualBottle, customers might just purchase mineral waters for daily usage.Besides that, water dispensers are the main indirect competitors because the DualBottle mostly targeted customers are people who work in office, travel daily and also students. Water dispensers are available in all colleges and offices. Hence, instead bringing the water bottles along with them, customers may prefer using the water dispenser for cold and warm drinks. So it is considered a main competitor to the DualBottle that competes in the market. Furthermore, companies such as Starbucks also are served as the indirect competitor for the new product.Although Starbucks specialized on producing good and tasty coffee, the company itself has launched their own tumbler which also has the similar function with this new product as tumbler can be used to fill up the hot beverages. Besides that, Starbucks also has a promotion for its own customers by using the tumbler when they purchase hot beverage. They can get the RM2 rebate by using the tumbler. Hence, most of the customers who loyal and fascinating in Starbucks will tend to purchase the tumbler to get better offer. This phenomenon also will be one of the issues for the launching of new product.Next, in terms of the future competition for the DualBottle where in this new era technology is growing in a fast pace, all the products that selling in the market already be advanced. In the past years, these products are not in existence. However, in today’s fast development society, these products cannot be le ft out and more innovative and modern products are being launched. Most of the young adults have strong interest in trying new products. When this situation happened, all of the past products might be left out.Thus, to consolidate the base of new product in the competitive market, branding should be taken into consideration. Future competitors not only on the products themselves, but also included the consumer behaviour in today’s society. There will be always new competitors that will enter the market because of the advance of the technology. Target customers The innovative product, water bottle thermos is designed to satisfy all the needs of the individual and company. Furthermore, targeted customers are normal people who travel a lot; they can keep warm or cold water together with them while travelling in the car or bus.For instance, long distance travellers can keep hot coffee in the DualBottle so they can drink it while travelling to keep them fresh. Besides that, we are also targeting DualBottle on working adults and students who usually face with busy and tight schedule where they may be even unable to have their proper meals. For example, an event executive, Amanda is too busy with her task and could not even find time to have her meals and so, with this DualBottle, she is now able to enjoy her favourite drinks either in hot or cold at anytime and anywhere even when she is busy.With our unique selling point of DualBottle, that is the ability to reheat and re-freeze the drinks quickly by using the steel casing in which making DualBottle appeared to be so practical; it may also attract many companies to purchase our product as it can provide a high level of convenience to their employees. Therefore, we may be indulging ourselves in both B2B and B2C market in order to gain higher market share respectively and establishing a strong position in the market. We strongly believe that targeting the right consumers will achieve a desirable benefit to our innovative product, DualBottle.New Product First of all, stainless steel water bottle maybe very common in this current market such as Thermos, Klean Kanteen, Thinksport, and Eco Vessel. In fact that, there are just normal insulated water bottles which can keep drinks cold or hot for a short period however; DualBottle is coming up with an innovative idea where the water bottle is chargeable in order to heat up the drinks or make the drinks chilled. Although it appears to be nothing different from ordinary bottle, DualBottle has a ‘magic' function that cannot be found in the current market.The uniqueness that able to chill soft drinks or to retain temperature of warm Chinese tea with a tiny â€Å"plug and play† kind of component attached to make DualBottle more standout. Similarly to some other portable coolers, it uses thermoelectric cooling system concept to switch between two modes (cold and hot) with just a button. In line with technology advancement, DualBottle is d esigned with an external component that can be attached from the bottom of the bottle and it is contacted with a metal plate to serve as conductor in order to transmit cold and heat.Meanwhile, instead of operating in 12 or 24 volts direct current (DC) which is similar to mini fridge, we would replace the battery storage with a 2800 milli-Ampere-hour (mAh) rechargeable battery. For instance, two hours are required to get the battery fully charged and it could be used for ten consecutive hours. Besides, there would be two different ways to charge the battery component by using direct current (DC) and alternating current (AC). It would be more convenient as users do not need to plug-on direct current or alternating current in order to use of the function because there would be power reserved in battery component.Additionally, DualBottle will have an automatic power switch off when the water temperature is heated up to 70 °C and the water temperature is chilled down to 3 °C to 5 ° C. On the other hand, DualBottle can be presented more innovative by introducing another range of models that uses solar energy as an optional charging method therefore; the battery can be charged automatically whenever solar heat is stored. Moreover, when users do not feel like using the function, they could always remove the external component to function it as ordinary bottles like Bros, Sigg and Zebra.In addition, DualBottle is chargeable by using USB port charger and car power adapter as well, this idea enables users to charge DualBottle whenever they want. In fact, DualBottle can act more than a common water bottle where it can perform as a water warmer to keep the beverage warm for 4-6 hours because of the double-wall insulation designed; then it also can act as a water heater to heat up the beverage up to 70 °C, lastly it perform as a water cooler to hill the beverage down to 3 °C. Forget about the traditional design of Thermos bottle in which it looked heavy with stainl ess steel silver colour; DualBottle would design the products with relatively new colours and standout themes. DualBottle would look more colorful and attractive by adding some printings on it, the designs can be plain but sharp colors and candy colours, animal prints for fancy female group, and users can even print their pictures or words on DualBottle.To target different types of customers, DualBottle would allow customers to choose their favourite colour and design or to custom-made their bottle by choosing what design, features, function, colour, and engrave their name on the bottle. Besides, it would be designed for easy to carry by attaching a strap and also slim fit exterior outlook of the bottle. Meanwhile, the cover cap of DualBottle would be anti-leaking water designed which are made by rubber and plastic. It would be easier to design the bottle with open-close cover, instead of using rubber grip cap cover.However, there are also pros and cons to adopt the design of open-c lose cover. For instance, rubber grip cap cover can have better prevention of losing the water temperature in the bottle as compared with the open-close cover. As people are more health conscious nowadays, DualBottle uses stainless steel, aluminium and bisphenol A (BPA) free as inner bottle materials in production line hence; it would not be harmful to the users. Since a metal plate would acts as an electrical conductor to heat up or chill cold the drinks; stainless steel, aluminium and BPA free plastic materials are not an issue to end-users.In general, DualBottle has three different kinds of bottles but they perform the same function for users. This is because to target different group of customers as stainless steel material is usually expensive, aluminium material is on the average price, and plastic material would be cheaper. Nevertheless, high quality of stainless steel materials are usually weigh heavier as compared to aluminium and plastic materials; so materials made of Dua lBottle might be affect the weight of product but however, DualBottle has only two standardized bottle volume which are 500ml and 750ml.To be a part of contributing towards environmental friendly program, we would to use recycle materials if possible. The quality of the product must be proven through some international recognized authorities like FDA (US Food & Drug Administration), LFGB (Europe Food Contact Material Standard), ISO (International Organization for Standardization), and SIRIM (Standard and Industrial Research Institute of Malaysia).Besides, DualBottle would only use high quality of electric thermos which it is also often used by Thermos, Klean Kanteen, and La Gourmet; this is to ensure that DualBottle can produce high quality products instead of using cheap materials. With the fact that the production cost might not be cheap and therefore it is expected that DualBottle is placed in high quality and high price position. Conclusion In the current market, thermos water b ottle is frequently used by the people to store their drinks and keeping their drinks cold or warm for only a very short period of time.Our group has established the gap within the market where people may want to enjoy cold or hot drinks at the anytime and anywhere in their daily life. Thus, we have come out with an innovative product called â€Å"DualBottle†. In developing DualBottle, it is apparent that we will be facing those direct competitors like Thermos, Klean Kanteen, Sigg, and Zebra which have dominated the market for quite a long time in producing thermos water bottle. However, these products only consists the function of preserving heat and not heating or freezing like what DualBottle can do.On the other hand, we also will be facing some of the indirect competitors in the market like water dispenser companies, mineral water companies, some electrical companies that produces kettle and water boiler and even Starbucks as they had launched their own brand tumbler to i ncrease loyalty of their customers. The DualBottle is targeted at travellers, students and working adults who may be very eventful and does not even have the time to sit down and enjoy their drinks. Thus, the ability of DualBottle to heat and freeze drinks enable these people to have a moment of pleasure on their favourite drinks either in hot or cold.The practical side of DualBottle may attract companies to buy in bulk from us in order to supply to their employees as it is very convenient to their daily activities. DualBottle introduces a function where it can be heated up the beverage or chilled the beverage in water bottle by only clicking a button. This function can be done by attaching a metal plate which acts as conductor on the bottom of the inner bottle and then an external component to act as battery to transmit energy.In additional, the external battery is actually an external component which can be attached or removed from the bottle. It is easy to charge by using adapter , USB port, car power adapter, and also solar energy. Moreover, Dualbottle design the bottle by using 3 different kinds of materials which include stainless steel, aluminium, and plastic. There are all having the same performance and with 2 standardized capacity volume of bottle which are 500ml and 750ml.DualBottle may obtain international certificates by government organizations to prove that the bottles are safe to use and has no harms to health. Besides, it would be having attractive outlook as the designs are standout and DualBottle enables customers to custom-made their bottle as well. The cover cap of bottle may be open-close cover design because of convenience and anti-leaking purpose. In conclusion, DualBottle is a high quality dual-function bottle and hence, it would be also selling at higher price. Reference list Alicia,2009.Top 5 Stainless Steel Water Bottles. [online] Available at: [Accessed on 2nd April 2012] Better Bottle Stainless, 2012. [online] Available at: [Access ed on 3rd April 2012] Hydro Flask, 2012. [online] Available at: [Accessed on 3rd April 2012] Klean Kanteen, 2012. [online] Available at: [Accessed on 4th April 2012] Shop Naturally, 2012. [online] Available at: [Accessed on 4th April 2012] SIGG Design Bottles, 2012. [online] Available at: [Accessed on 3rd April 2012] Zazzle water bottles, 2012. [online] Available at: [Accessed on 4th april 2012]

New Deal (yes) essays

New Deal (yes) essays The New Deal was a plan that took action in the 1930s to counteract the crisis of the depression. Franklin D. Roosevelt was elected during this time and brought ideas that he had while serving as the governor of New York. The biggest achievements of the New Deal were the unemployment rate went down, the economy stabilized, and the country abandoned the gold standard. With the New Deal President Roosevelt established many new organizations whose sole purpose was creating jobs for the unemployed. These companies became known as alphabet agencies because they were often known by their initials. The largest of these was the Consumer Conservation Corps (CCC). The CCC created jobs like raking leaves in parks and digging ditches so that people would have an annual source of income. Another Big organization was the Tennessee Valley Authority (TVA). The TVA produced hydroelectric power plants that are still in use today. With these companies the unemployment rate dropped from 25% to nearly 15% during the years of the depression. The decrease of unemployment helped to stabilize the economy. With people having more money, they were able to spend it on personal luxuries that helped boost the economy by creating more need for jobs. During the depression many companies that had made millions in the twenties were struggling. The Ford Company had become very powerful but their prices were becoming unreasonably high. General Motor Company helped bring the price of cars down by creating competition with Ford. Many other companies struggled during this time, but they survived with the New Deals help and were able to stay afloat until World War II. Another great achievement of the New Deal was President Roosevelts decision to remove the country form the gold standard. The fold standard based the value of a dollar on the weight of gold. Abandoning this standard stabilized the value of currency. Wit ...

Thomas Aquinas Essays - Divine Command Theory, Religious Law

Thomas Aquinas Essays - Divine Command Theory, Religious Law Thomas Aquinas Saint Thomas Aquinas, as a philosopher, wrote several works that justified Christianity in a philosophical context, taking cue on Aristotle's old writings. Naturally, Aquinas took up on the Church's ultra-conservative views on sexuality and worked to rationalize them through his own theory of natural law. Aquinas argues against any form of sex where the intention to produce children is not involved. He explains this through his theory of natural law, where sex is purely for the purpose of reproduction to ensure the continuance of the human race, only in the context of a monogamous relationship, and not for simple physical pleasure. There are many laws that Saint Thomas Aquinas speaks of, such as eternal law, human law, divine law, and natural law. All humans are part of God's plan and therefore subject to eternal law, where we are guided to God's supernatural end in a higher way (47). According to Aquinas, humans in particular follow God's eternal law through a natural law, and inborn instinct to do good. Something is said to be part of natural law if there is a natural inclination to it and if nature does not produce the contrary, (51-52). Natural law includes such ideas as self-preservation, union of the male and the female, and education of the young, which is easily found in nature. Humans also have a unique knowledge of God and were meant to live in a society. Aquinas explains that even though concepts such as slavery and personal possessions are not found alone in nature, they were created by human reason, and in such cases the law of nature was not changed but added to (52). Because we can do such things , we are separated from the rest of God's creatures. After explaining his theory of natural law, Aquinas goes on to explain sexuality in the context of it. According to him, promiscuity is contrary to the nature of man because to bring up a child requires both the care of the mother who nourishes him and even more the care of the father to train and defend him and to develop him in internal and external endowments (78). Therefore, he finds fornification to be a mortal sin because it is contrary to the good of the upbringing of the offspring (79). Curiously, though, he does not bring up the more likely scenario where fornification does not result in the impregnation of the woman. His reasoning makes much better sense in the case of adultery. Not only does it upset one's obligations to his family, but also because the Ten Commandments specifically condemn adultery as a great sin. The Ten Commandments are God's laws and are not relative, so there is no disputing their validity. However, Aquinas' argument that monogamy is natural for human s is not easily justified. If we look carefully at nature, most mammals have to be raised by their parents just as humans are, but only for a few years. Also, in many cases, the mother may raise her young with a different male, or on her own altogether. Therefore, this makes it harder for Aquinas to appeal to natural law to prove his case for monogamy and life-long relationships. Also, Aquinas does not agree that a male should have the option of leaving a female who has had a child even if it is properly provided for, making an indirect case against divorce (79). Curiously, in Islam, the Koran allows divorce and remarriage, and it is based for the most part on the very same Bible that Aquinas defended. Aquinas makes clear that sex is right only when it is for the purpose of reproduction and it should only be between a male and female in a monogamous relationship; all other forms are sinful. However, he brings up a very striking exception. The acts of fornification or adultery are not considered sins at all if they are performed under the command of God (52). This is simply a case of common sense, but it explains clearly any such indiscrepancies to natural law in the Bible. Aquinas goes on to define more serious mortal sins which he refers to as indecent sex. This includes homosexuality and bestiality. He quotes bestiality from the

Chemical Reaction - Chemistry Definition

Chemical Reaction - Chemistry Definition A chemical reaction is a chemical change which forms new substances. A chemical reaction may be represented by a chemical equation, which indicates the number and type of each atom, as well as their organization into molecules or ions. A chemical equation uses the element symbols as shorthand notation for the elements, with arrows to indicate the direction of the reaction. A conventional reaction is written with reactants on the left side of the equation and products on the right side. The state of matter of the substances may be indicated in parenthesis (s for solid, l for liquid, g for gas, aq for aqueous solution). The reaction arrow may go from left to right or there may be a double arrow, indicating reactants turn to products and some product undergoes the reverse reaction to reform reactants. While chemical reactions involves atoms, typically only the electrons are involved in the breaking and formation of chemical bonds. Processes involving the atomic nucleus are called nuclear reactions. The substances that participate in a chemical reaction are called reactants. The substances that are formed are called products. The products have different properties from the reactants. Also Known As: reaction, chemical change Chemical Reaction Examples The chemical reaction H2(g)  ½ O2(g) → H2O(l) describes the formation of water from its elements. The reaction between iron and sulfur to form iron(II) sulfide is another chemical reaction, represented by the chemical equation: 8 Fe S8 → 8 FeS Types of Chemical Reactions There are countless reactions, but they can be grouped into four basic categories: Synthesis Reaction In a synthesis or combination reaction, two or more reactants combine to form a more complex product. The general form of the reaction is: A B → AB Decomposition Reaction A decomposition reaction is the reverse of a synthesis reaction. In a decomposition, a complex reactant breaks into simpler products. The general form of a decomposition reaction is: AB → A B Single Replacement Reaction In a single replacement or single displacement reaction, one uncombined element replaces another in a compound or trades places with it. The general form of a single replacement reaction is: A BC  Ã¢â€ â€™ AC B Double Replacement Reaction In a double replacement or double displacement reaction, the anions and cations of the reactants trade places with each other two form new compounds. The general form of a double replacement reaction is: AB CD  Ã¢â€ â€™ AD CB Because there are so many reactions, there are additional ways to categorize them, but these other classes will still fall into one of the four main groups. Examples of other classes of reactions include oxidation-reduction (redox) reactions, acid-base reactions, complexation reactions, and precipitation reactions. Factors That Affect Reaction Rate The rate or speed at which a chemical reaction occurs is affected by several factors, including: reactant concentrationsurface areatemperaturepressurepresence or absence of catalystspresence of light, especially ultraviolet lightactivation energy

XYZ Counseling Agency Case Study Example | Topics and Well Written Essays - 500 words

XYZ Counseling Agency - Case Study Example This is evident from the fact that the company has employed a policy that categorically prohibits any kind of violence. Employees at XYZ Counseling Agency who have violated these rules in the past have been disciplined, but no employee’s services have been terminated for such conduct. Given that XYZ Counseling Agency does not discriminate against employees on the basis of sex, religion, race, age, or sexual orientation, employees are expected not to create an offensive, hostile or threatening environment (Szwajkowski, 1996). The company also believes in providing the highest standards of customer relationship and earns its clients by providing superior services and not through unethical, problematic or offensive business practices. XYZ Counseling Agency believes in developing credibility with its clients by meeting its commitments. The company recognizes that if commitments are not met, client trust is damaged. The fact that Chuck was hired as an anger management consultant implies that he was expected to set an example by keeping his temper in control instead of behaving in the manner that he did not only with Wilbur but also with another client a week ago, whom he had grabbed by the arm. The company is a counseling agency and any instance of such behavior will create negative propaganda that will do immense damage to its credibility in the market. Beating up a client during a counseling session is not acceptable under any circumstances, especially when the very purpose of his visit to the center is to get relief from the emotional or psychological hardships that he is suffering from. Instead of being empathetic with the client for his weak emotional state, Chuck chose to beat up Wilbur, who is a client that the company is obliged to treat with utmost concern and empathy. Given that XYZ Counseling Agency has a  specific policy in place against violence and all employees are signatory to such policies at the time of being hired, the  company is within its legal rights to terminate Chuck’s services with immediate effect. It is apparent that Chuck has a past record of engaging in violence at the workplace, which is evident from the fact that he was fired from a counseling job five years ago for having become violent with a client.

Introduction to the Internet and E Business- H1 Essay

Introduction to the Internet and E Business- H1 - Essay Example E-Business means running an online business in order to improve productivity of the business. In today’s world, almost every business needs to have an online presence to attract customers. Website is the most popular platform for internet marketing. Our company, Home Delights will also make use of a website for marketing purposes. Holub (2005) asserts, â€Å"One of the easiest ways to help your business gain more exposure and potential customers is to have a professionally developed website†. E-Business model is a set of planned activities used by a company to generate profitable growth of the revenue using internet technology. Home Delights can make use of Business-to-Customer (B2C) model to increase its profits. Advertising, referral fee, and subscription charges will be the main sources of revenue generation. The first model, which will be used by our company, is Comparison-Pricing model. Comparison-Pricing model will help the customers find the most suitable catering company from a variety of companies through polling. Demand-Sensitive model will enable a group of customers to get a group discount on using the services of Home Delights. There are many methods through which Home Delights can make use of internet technology to sell its services to the customers. Some of the most popular ways include web marketing, classified ads, selling through company’s website, and selling through email marketing. Some other uses of the internet which can benefit our company include online chat and email system to improve the customer service, advertising through internet to enable the business reach international market, and providing complete information about the company on the internet to increase credibility of the business. The first company, Eatable Delights Catering, provides a variety of catering services to the customers. The services include party arrangements, wedding

Do the policies and ideology of multiculturalism unite us or divide us Essay

Do the policies and ideology of multiculturalism unite us or divide us - Essay Example In order to promote multiculturalism, policies are in place to protect ethnic identities of immigrants and Canadian ethnic minorities. There are programs for education, employment and support for navigating government services. However, these policies do not always result in equal treatment. Multiculturalism is a laudable goal and it looks good from the outside. However, it is not always good from the inside. The idea of multiculturalism, especially in Canada, makes people feel like they are part of a greater good, a bigger picture promoting anti- racism, and that they fighting for group and individual equality. However, policies created to help protect identity or to aid aboriginals protect their culture or immigrants to integrate into Canadian society sometimes offer advantages to immigrants that native born Canadians do not enjoy. One very visible difference in policy is in the area of education. Canada has actively recruited immigrants to boost the economy for more than a century . Because of the Offical Languages Act in 1969 to mollify Quebec separatists, numerous ESL and EFL programs exist for adult immigrants across the country to help new arrivals integrate (Derwing and Thompson 2005). However, over the years these programs have been modified to emphasize the employability skills of participants and to communicate Canadian values. Other programs, such as neighbourhood national festivals are promoted and subsidized by the government to allow immigrants to communicate their culture to other Canadians in an effort to promote understanding, acceptance and equal opportunity. The LINC program improved upon its predecessor by adding women, who were considered unemployable, to the list of beneficiaries, but it still emphasized â€Å"Canadian† values, rights, and responsibilities (Bettencourt 2003, 25), including laws, shopping and banking, plus information for services (Bettencourt 2003). It was changed again in 2000. Based upon standards of measurement o f language skills, it aims to bring all immigrants’ language skills to a useful level (CIC 1996). Various changes were made to this program by the CIC (CIC 2001; CIC 2006; CIC 2007; CIC 2009) While all this work to help new immigrants benefits society as a whole, the amount of money spent on these programs is not equalled in educations programs for native born Canadians. For example, a native born Canadian who moves to Quebec is not eligible for free French lessons, nor is a Quebec resident who moves to an English province. This is seen as favouring immigrants at the cost of native born Canadians. Education of immigrant children required a change in Canadian school systems. However, public education is the purview of the provincial governments, not the federal government (JEAN-PIERRE, 2011). So many provinces have developed multicultural programs to help resolve the problems of immigration of non-English or French speaking immigrant children. Since schools are funded mostly by property taxes, this is seen as spending the taxes of the Canadian middle class, generally native born, citizens on programs that do not visibly benefit their children. While a case can be made for the value of foreign language instruction to child educational and intellectual development, Canadian schools already offer bilingual education: French and English. Adding other languages might be better accepted if those added languages

Reflective commentary of research process Paper

Reflective commentary of process - Research Paper Example Furthermore, I felt that my dissertation should contribute to the wellbeing of the society that I am a member of. From this holistic perspective, I chose to study the literature on disaster management and its status in this country. My search of the relevant background information gave me an understanding of the steps that have been undertaken in disaster management in America, to prepare the nation in meeting the threats that are posed by natural and man made calamities. Several agencies and elements contribute to effective preparedness of the nation to face calamities. Scrutiny of the elements led me to understand that a critical element in disaster preparedness focused on those that are called upon the scene or voluntarily present themselves at the scene of a disaster to provide succour to the disaster victims at the outset. Therefore, disaster preparedness of a nation hinged on what we may term these ‘first responders’ at the site of a disaster. My next exploration i n the background literature pertained to these first responders, and the measures that have been taken to increase the effectiveness of the first responders at disaster sites. I found that there was ample information on the measures that were taken, but limited information on the effectiveness of the measures that have been put in place, to enhance the efficacy of the first responders to disaster sites. Therefore, I decided that my research should focus on this area, and have chosen to do a critical review on the disaster preparedness in America, tracing the background of disaster preparedness efforts in the nation, and the importance of the first responders, and finally focussing on assessing the preparedness of the first responders to cope with disaster management. Having found my research problem, the next task I undertook was to find a suitable title for my dissertation. My reading of information on the development of titles for a dissertation provided the information of the tit le needing to be succinct and catchy. After a great deal of thought I arrived at the conclusion of highlighting the subject of the study and the focus of the study through the title† Disaster Management: An Evaluation of the Disaster Preparedness of the â€Å"First Responders†. Developing the Objectives of the Study From the volume of information that was being collected, I realized that I needed to set objectives for my study, if not I would meander in finding the solutions for the subject and focus of the study, making my study aimless and results not gratifying for the efforts put in. My readings on setting objectives for the study also made me realize to keep myself focused on a limited set of objectives that were achievable, and not to try to take on more than I could chew. With this in mind, I developed three objectives that were achievable and relevant to providing answers to the problem that I was studying in detail. Developing the Research Method Having set my objectives, the next step in my journey in creating the dissertation proposal was in finding the efficient means to achieving the objectives of finding answers I was searching for that would be academically reliable and valid. All my earlier experiences in dissertations and my readings of dissertations clearly marked out that choosing the research method required me

Role Models and how their leadership traits impact your personal Term Paper

Role Models and how their leadership traits impact your personal character and behaviors - Term Paper Example In this paper, I intend to discuss how my grandmother became my role model and how her ethical and transformational leadership qualities inspired me to positively change my behavior, attitude and thinking skills. I had always been inspired by how my grandmother’s strategic behavior motivated others to step into her shoes. She was German by birth. She had a strong military background and as every one of us knows, militia always has strong discipline, morals and standards. My grandmother had such strict ethical standards that no one could ever think of doing wrong to another person in front of her. She had a high morale and always told us not to get afraid of hardships and calamities. Her greatest possession was the German heritage whose best qualities she tried to inculcate in her offspring. She was strong both physically and mentally and thus was a great source of strength for the entire family. She had great leadership qualities. She had a brawny vision which enabled her to s olve problems with ethical values. It was the honesty of her inner self that made her do wise and just decisions. She was able to give voice to her vision in front of opposition. She was brave enough to make people appreciate her ethical directions and values.

Why banning the use of cell phones while driving should be mandatory Essay - 1

Why banning the use of cell phones while driving should be mandatory nationwide - Essay Example Lawmakers should ban cell phone use while driving because a human life is more important than a simple phone call. Even if a driver is using a phone for something important, such as work, they are still putting others at risk. Another persons life is more important than a phone call and there really can be no comparison between the two. Second, driving and talking on the phone should be outlawed because most phone calls are not emergencies. A person would not talk on the phone while in a business meeting, so why should they when they are driving? Discounting work or emergency calls, most calls are either personal or social. If a call is not the matter of a life or death situation then it can wait until the driver can safely stop their vehicle. Finally, drivers need their full attention on the road, so by law they should not be able to use a cell phone while driving. Drivers are required to sit license tests before being able to drive, so this proves that driver have to be skilful. Talking on the phone takes away from these skills. Also, it is just common sense not to talk on the phone while driving, the same way that people would think it is silly to drive and read a book at the same time. To sum up, drivers should not be allowed to use cell phones for all of the reasons listed previously. Not only is a human life more important than a phone call, but also the majority of phone calls are not emergencies and drivers need to be fully focused on the road ahead of

Role Models and how their leadership traits impact your personal Term Paper

Role Models and how their leadership traits impact your personal character and behaviors - Term Paper Example In this paper, I intend to discuss how my grandmother became my role model and how her ethical and transformational leadership qualities inspired me to positively change my behavior, attitude and thinking skills. I had always been inspired by how my grandmother’s strategic behavior motivated others to step into her shoes. She was German by birth. She had a strong military background and as every one of us knows, militia always has strong discipline, morals and standards. My grandmother had such strict ethical standards that no one could ever think of doing wrong to another person in front of her. She had a high morale and always told us not to get afraid of hardships and calamities. Her greatest possession was the German heritage whose best qualities she tried to inculcate in her offspring. She was strong both physically and mentally and thus was a great source of strength for the entire family. She had great leadership qualities. She had a brawny vision which enabled her to s olve problems with ethical values. It was the honesty of her inner self that made her do wise and just decisions. She was able to give voice to her vision in front of opposition. She was brave enough to make people appreciate her ethical directions and values.

Virtual Classroom Essay Example for Free

Virtual Classroom Essay In the rapidly changing way that information exchange takes place during our times, the Virtual Classroom Information System, or simply Virtual Classroom, demonstrates very effectively that technology can be explored and utilized to make new ways to do old things, and at the same time be more efficient in doing it. The Virtual Classroom is a web-based information system that basically allows a class to take place over the internet and through a website, breaking the restrictions imposed by distance. It provides a venue where students and teachers can meet, albeit virtually, and do the things that are normally done inside actual classrooms. Although communication is limited through the computer as compared to meeting personally, the Virtual Classroom provides alternative ways that were still effective in providing the users with the information they need. The Virtual Classroom provides functionalities for the following different kinds of users: system administrator, teacher, and student. The system administrator, or sysad for short, is not necessarily the system owner. The system owner is the school who bought a copy of Virtual Classroom and had it installed in a server to be used by that particular school. The system administrator is preferably someone from the school administration. The system administrator has complete control over the system as he/she is the one who has the highest privileges in accessing the system. It is up to the sysad to populate the database with the available classes, and later assign teachers to handle those classes. He/she has the responsibility of managing all other user accounts, be it a teacher or a student account, involved in the system. The system administrator is like a moderator that sees to it that everything is in place and working well. The teacher has lesser privileges compared to the system administrator. He/she is allowed to upload files such as documents, pictures, or animations for the students to download. Also, the teacher can give exams or quizzes through the internet, which are automatically corrected and computed when answered by the students. The teacher is also in charge of the management of the forum of the class which he or she is teaching. At the end of the semester, the teacher can submit the final computed grades through the system. The system developer is preferably someone involved with the system as he or she needs to be well aware of the concerns and requirements asked by the system. The developer should have at least made thorough consultations with the members of the faculty, the students, and most especially the school administration. The Knowledge Building Block The knowledge building block is basically the information available for the system. This is mainly about populating the database with enough data for it to run effectively. With regards to the Virtual Classroom, the knowledge building block contributed by the system administrator consists of the list of students currently enrolled in a particular school, and the list of teachers who are currently available for teaching. This also includes personal information such as student number, name, course, year level and other basic information that the school needs to know. Also, the list of available classes that students can enlist to is populated by the system administrator. The teacher is left with the uploading of the necessary lecture files for the classes assigned to him. Also, exam questions would come from the teacher with the corresponding answer key for the system to automatically check the paper and compute the scores when answered. The Process Building Block This part of the information system is concerned about what the system does with the information, or knowledge, that is made available to it. Basically, a process takes input data and modifies it based on the conditions and logic provided by the system, then finally, outputs the data needed by the users. With the Virtual Classroom, one process is the assignment of the teachers for each class offered by the school. The system should see to it that there will not be conflicts with the schedule. When uploading the files of newer version, the system would automatically replace the old ones and sees to it that the concerned students will be notified either by email or through SMS, if the phone number is supplied by the user. Also, when a student finishes answering an exam, the system automatically checks it and outputs the results for the teacher to see. The Communications Building Block This block involves sending and receiving data between the users of the system. In terms of the Virtual Classroom, the communications block plays a major part in it, because the classroom is basically having a teacher communicate with a group of students so that the students will learn something from it. In this regard, there are several ways that the concerned users can communicate through the system. First, there is a general messaging system. The system allows any user to send a private message to another user, or group of users as long as the sender has prior knowledge of the recipient’s username. Upon receiving the message, the user has options to reply. In addition to this, there is also a message board per class. The management of this board is the responsibility of the teacher because this is where class discussions will take place, and although slow and not as efficient compared to the real classroom experience, information is guaranteed to be transmitted. An important part of this system is the notification system that contacts the needed users through email or through SMS, whichever is available, when something of great importance and ugency demands his or her attention.

English Language Essays Learning Styles

English Language Essays Learning Styles Free Essays English Language Essays An examination of learning styles and typologies in a language classroom. plan, teach / act, observe and reflect Sue Davidoff and Owen van den Berg, 1990 The Observation Myobservation was undertaken at the British Council in Kuwait/Gulf Region. The observation class was of mixed nationality ArabicLanguage speakers at Intermediate level. There were twenty students in total,80% males to 20% females. The class comprises of 30% students, 60% working orprofessional people 10% homemakers others. The age range isbetween 20 to 55 years. The class is halfway through a 6 months languagecourse. I observed and was involved in a 90 minute lesson focusing onvocabulary, reading and speaking. At the end the teacher answered my preparedquestionnaire. The followingessay consists of a brief theoretical, analytical and practical examination of learningstyles and typologies in a language classroom and how best to plan for them. Itincludes an analysis of specific elements from the observed lesson put in thecontext of theory and intended future practise. To support thelesson, the teacher used the white board, an overhead projector with onetransparency and three handouts. Whole class work focused on provision ofvocabulary and contextualisation of the material. The material was real andrelevant to contemporary interests and cultures. The teacher used discussionstarters to motivate and encourage student interest and involvement (asAllwright and Bailey advise, 1991) Responses were elicited from the class andsupported through teacher modelling of pronunciation and writing on the whiteboard. Individual work was limited. The teacher had established small groups(three to four students) aimed at balancing ethnic background and gender. Research shows theimportance of understanding and catering for different learning styles andcognitive strategies. When a learning style is not catered for, the studentcan easily become bored and inattentive, do poorly on tests, getdiscouraged about the course, and may conclude that they are not good at thesubjects (Zhenhui, 2001). Various parameters have been constructed fordefining students preferred way of learning, such as Knowles (1982) concrete,analytical, communicative and authority-orientated learning styles (cited inRichards, 1994). Another defines the groups as auditory, visual andkinaesthetic learning styles (Krause et al, 2003, pp154-155) whilstfigure 1 gives a representation of student and teacher inter-reactionsdependent on learning styles. Some researchers such as Richards (1994, pp.59-77)consider an individuals culture as vital to understanding learning styles. Ladson-Billings(1995) advocates a method of Culturally Responsive Teaching which integratescultural points of reference through out the learning process. Others disagree(Kubes, 1998, cited in Krause) and cite more universal forms of learning. This class wasboth interested and engaged in its learning. However, during the interview,the teacher expressed a wish that there was more time for individual tailoring.The teacher acknowledged that this would better cater for the range oflearning styles. More concrete resources (actual materials eg fruit, etc) andincreased use of visual aids (magazines, more transparencies, laminatedpictures) may also help to convey understanding and increase retention. Two tests wereused during the class one was a linking exercise and one a reading exercise.The teacher finished the lesson with each student expressing an opinion on anarticle using the lessons language. Whilst these were not formal tests, theyinvolved assessment strategies. As Nunan points out (1990, p62) assessmentcontributes part of the information for student evaluation. As this infers, thetools for student assessment, be they observational, formative or summative,need to balance with an understanding of the bigger picture. For example, thegoal may be to allow students to understand, practise and develop their own languageand learning strategies (see Hismanoglus exploration of Language LearningStrategies, 2000) be they direct or indirect strategies (Oxford, 1990, p9).Most students require clear and precise scaffolding (Vygotsky, in Krause, 2003,pp60-65) to develop their metacognitive practises for making meaning. Assessmentcan act as a benchmark to the success of the learning pr ocess and show theteacher areas that need to be covered again or in a different way. There is no spacehere to do full justice to the impact of the learning environment upon studentsyet it needs inclusion for a balanced understanding of students learningstyles. Suffice it to say that, as Nunan and Lamb say (1996), the teacherneeds to aim for a safe, positive and progressive environment that encouragesstudent participation, thinking and risk-taking. Much as assessment is an endresult of reflection upon what one wants to define, the learning environmentshould be based upon a thorough understanding of theoretical aspects. Forexample, traditional teaching methods tended towards a unitary approach tointelligence. Contemporary theories, such as Gardners work on multipleintelligences (cited in Krause et al, 2003) allow for the inclusion ofvariable factors that define a students strengths and weaknesses. Many agreewith Wilsons (1998) assertion that Gardners MI theory helps teachers createmorepersonalized and diversified instructional experiences and develops empoweredlearners (http://www.newhorizons.org/strategies/mi/wilson1.htm) This holisticapproach agrees with an understanding of other influences upon learning, Maslowshierarchy of needs for example (see Figure 2), or Bronfenbrenners (1979)ecological systems theory. These ecological factors encourage moreintegrated forms of assessment and are particularly useful in understandingvarious forms of washback (see Cushing Weigle, 2002) that may result. Othermore structured tests such as the Myers-Briggs Type Indications Survey, (Myers McCaulley, 1985) may also have their place. The teacher usedgender and ethnic background to balance the groups. The groups worked welltogether in a pro-social manner. However, Woods encourages consciousexamination of an educators own attitudes, especially when the may cause subconsciousactions and opinions to form (Woods, 1996). Should the two parameters ofgender and ethnicity become constraints, then they are not valid means of groupconstruction. Sometimes is appeared that not all group members contribute intheir cooperative learning. However, research has shown that even those who donot appear to be so communicative do benefit to a degree from the listening andprocessing that this format provides. It may be that they are better atworking individually and as such should have the opportunity to do so. The teacher usedelements of the 3 Ps approach presentation, practise, production. However,as the lesson transcript shows, the language was expanded in what became moreof a Harmer-style engage study activate method. I would like tolist the implications for my own teaching under the following points: Use a wide range of teaching strategies and styles to ensure comprehension eg support spoken material with writing on the white board, leave the transparency up on the overhead projector, bring in concrete materials, provide visual clues, model your required responses, set short, realistic goals and review and recycle often. (Antonaros, 2005 ), role play, use song. Use methods according to the area you wish to cover, the materials you have prepared and present concisely and precisely. If the area is suited best to direct instruction then use it, if student-centred instruction or co-operative groups then vary accordingly. Motivation and interest are paramount, but sound understanding is the goal. Prepare your materials so that they are interesting, real, relevant, encourage thinking whilst supporting language development. Take an action research approach to (for example Wrights, 1987, 2005) to develop a thorough understanding of my students learning and cognitive styles and my own attitudes. Use active listening to understand, modelling to improve and discussion to encourage communication Use teacher modelling strategies to develop the students autonomous language learning skills as exemplified by Lowes and Target (1998) in Helping Students to Learn. Providing a positive learning environment where mistakes are not derided Assign homework that re-caps and therefore re-enforces the issues covered in the lesson. Ensure equity in communication make sure everyone has a chance to speak. Everyteacher who has taught a group of grown-ups knows that some individuals may bereluctant to speak, especially when they realize or assume that other studentsare more fluent. (Turula,2002) References Allwright, D. Bailey, K. (1991). Focus on the LanguageClassroom. Cambridge, UK: Cambridge University Press. Antonaros, S. (no date) Looking Inside and Out for the Answer toMotivating Our Learners http://www.tesolgreece.com/nl/75/7505.html)Accessed 7th February 2006 Davidoff, S., Van Den Berg, O. (1990) Changing YourTeaching. The challenge of the classroom. Pietermaritzburg: CentaurPublications Gardner, H. (1983) Frames of Mind. New York: Basic Books, Harmer, J (1998) How to Teach English. Harlow, UK: Longman Hismanoglu, M. (2000) Language Learning Strategies in ForeignLanguage Learning and Teaching, The Internet TESL Journal, Vol. VI, No.8, August 2000 Knowles, L (1982) Teaching and Reading. London, UK: NationalCouncil on Industrial Language Training. Krause, K., Bochner, S., Duchesne, S. (2003) EducationalPsychology for learning and teaching. Southbank, Victoria: Thomson. Kubes, M (1998) Adaptors and innovators in Slovakia: Cognitive styleand social culture. European Journal of Personality, 12(3), pp.187-198 Ladson-Billings, G. (1995). But thats just good teaching! The casefor culturally relevant pedagogy. Theory into Practice, 34(3), 159-165. Lowes, R. Target, F. (1998). Helping Students to Learn.London: Richmond. Malamah-Thomas, A. (987). Classroom Interaction. Oxford, UK:Oxford University Press. Nunan, D., Lamb, C. (1996). TheSelf-Directed Teacher. Cambridge, UK : Cambridge University Press. Oxford, R. (1990). Language Learning Strategies: What EveryTeacher Should Know. New York, USA: Newbury House Publishers. Richards, J.C., Lockhart, C.L. (1994). Reflective Teachingin Second Language Classrooms. Cambridge, UK: Cambridge University Press. Richards, J.C. Nunan, D. (eds.). Second Language TeacherEducation. Cambridge, UK: Cambridge University Press. Turula, A (2002) Language Anxiety and Classroom Dynamics: A Study ofAdult Learners. Forum English Teaching Online, US Dept of State, Vol.40 (2). http://exchanges.state.gov/forum/vols/vol40/no2/p28.htm#top Wilson, L (1998). Whats the big attraction? Why teachers aredrawn to using Multiple Intelligence Theory in their classrooms? http://www.newhorizons.org/strategies/mi/wilson1.htmAccessed 7 February 2006 Woods, D. (1996) Teacher Cognition inLanguage Education. Cambridge, UK: Cambridge University Press Wright, T. (1987). Classroom Management inLanguage Education. Hampshire, UK: Palgrave Macmillan Wright, T. (1987). Roles of Teachers andLearners. Oxford, UK: Oxford University Press. Zhenhui, R. (2001) Matching Teaching Styles with Learning Stylesin East Asian Contexts, The Internet TESL Journal, Vol. VII, No. 7,July 2001 Matching teaching styles: http://iteslj.org/Techniques/Zhenhui-TeachingStyles.htmlaccessed 3 February 2006. Language Learning Strategies: http://iteslj.org/Articles/Hismanoglu-Strategies.htmlaccessed 3 February 2006 Maslows Heirarchy of Needs, Huitt, 2004, http://chiron.valdosta.edu/whuitt/col/regsys/maslow.html.Accessed 7 February 2006 Language Teaching http://www.ittmfl.org.uk/modules/effective/6a/paper6a4.pdfaccessed 5 February 2006

Free College Admissions Essays: Jewish Self-discovery :: College Admissions Essays

Jewish Self-discovery "Sarah, we need your help in the Ukraine this summer. Can I count on you?" This question changed my life profoundly. I was asked to be a counselor on JOLT, Jewish Oversees Leadership Program, an opportunity to interact with young campers in an impoverished country and positively influence their lives. Little did I realize that this experience would impact mine so greatly. JOLT, an outreach program, runs an annual overnight summer camp in the Ukraine with counselors from the United States and Israel. These counselors are carefully selected because of the rigorous programming and the many physical hardships of living in the Ukraine. Over one hundred local children come to Charkov to learn about their Jewish background. As one of the counselors, I had the privilege and extraordinary task of exposing them to the beauty of our religion and heritage. I remember the anxiety and excitement that I felt as I exited the plane with twenty other high school students, embarking on my summer teaching experience, wondering if I was fully prepared. The moment the busloads of children arrived, I attached myself to a group of kids and started singing and dancing with them. Despite my initial fears, we began to form a bond. My role changed from that of a teenager to that of a responsible counselor. Not only was I here to teach them about Judaism through classes and activities, but more importantly I was acting as a role model. For the majority of Ukrainian children, we were the first Americans they had ever met and, therefore, were watched vigilantly and constantly emulated. This humbling realization made me feel rather self-conscious at first. However, their desire to imitate also heightened the impact of that which we taught them. They wanted to learn. Although an immense language barrier lay between the campers and me, we managed to communi cate through translators, hand signals, songs, and broken English and Russian. With the help of a book that contained both the Hebrew and Russian, I taught Hebrew to a group of ten children who had never before been exposed to Judaism. Glieb, a ten-year old boy rapidly rose to the top of the class. In addition to the mandatory hours of daily learning, he was motivated to extend these sessions. So often at night after the fun and entertainment, he and I would practice reading Hebrew and we discussed, in simple terms, aspects of Jewish ritual that fascinated him.

Vincent van Goghs Starry Night and Vincent’s Chair Essay -- Art Criti

Vincent van Gogh's Starry Night and Vincent’s Chair   Ã‚  Ã‚  Ã‚  Ã‚  One of the most famous Post-Impressionists was the Dutch artist, Vincent van Gogh. Van Gogh believed that art was a form of expression. Painting was an emotional and spiritual experience for him. He painted not only how he interpreted his surroundings, but his sensations and feelings on his subjects. One of his most famous paintings, Starry Night, is a perfect representation of this Post-Impressionistic style of painting.   Ã‚  Ã‚  Ã‚  Ã‚  With its swirling colors and lines, Starry Night, incorporates not just the color and light that is found in the earlier works of these painters, but it shows how forms and feelings also came into play. "Waves and swirls" were applied so thickly in this piece that the paint itself cast shadows. His heavy brushstrokes and vivid colors portray the night sky as crazy and chaotic and the village below as peaceful and serene.   Ã‚  Ã‚  Ã‚  Ã‚  The historical significance of Starry Night mirrors the events taking place during this era of modernity. During this time, scientists, writers and artists were seeking nontraditional ways of thinking. While scientists were learning about humans and physics in ways that had not been used before, and philosophers were finding new theories of life, writers and artists were disregarding old ways of writing and painting, and pursuing new forms of expression. Van Gogh, like his contemporaries, was ignoring the old styles of painting realistic images; instead, as portr...

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