Pride and Prejudice and Sense and Sensibility

Presentation Literary work is an impression of what's going on in the general public. Creators regularly voice their conclusion about issues influencing the general public through different topics. These subjects are firmly connected together through examination of a character’s actions.Advertising We will compose a custom article test on Pride and Prejudice and Sense and Sensibility explicitly for you for just $16.05 $11/page Learn More In the contemporary society, presentation of writing research has widely expanded the volume of writing in each subject of premium scientists might be keen on particularly being used of articulation devices, for example, representations to introduce an emblematic view that a character shows in a play or a book. Actually, regardless of the degree of information and comprehension of exploration features, writing variants are comprehensive of writing apparatuses, for example, similitudes. Writing correlation is tied in with getting a charge out o f the expressions, feeling the narrator’s words in real life, envisioning, and setting oneself in the writer’s shoes. Compositions with predictable suspicions and representative intimation add extensiveness to sentence structures or expressions with concealed significance. Along these lines, this intelligent treatise investigations the subject of triangulated wants in the books â€Å"Pride and Prejudice† and â€Å"Sense and Sensibility†. The pieces harp much on marriage and its comprehensive observation which is impacted by race, sexual orientation, family connections and economic wellbeing. The books show how an individual’s feeling of character is helpless against control by others of higher social class. Pride and Prejudice and Sense and Sensibility Jane Austen (1775-1817) depended intensely in an equalization of incongruity, authenticity, and spoof in her class to introduce a particular artistic style in portraying diverse cultural arrangements . Through utilization of incongruity, Austen was effective in tending to affectation that was predominant in the eighteenth century in the subject of triangulated wants. This topics structure the establishments whereupon the social orders around then were constructed. It reverberates across ages since its impact is intrinsic. Triangulated wants as a topic address character emergency, convention, control, and marriage. As watched, Austen’s society is profoundly established in their way of life and is unbendable to suit innovation. They view such thoughts as outsider with no bearing in their lives.Advertising Looking for article on english writing? We should check whether we can support you! Get your first paper with 15% OFF Learn More In the writings â€Å"Pride and Prejudice† and â€Å"Sense and Sensibility†, Austen aesthetically underscores the customary situation on marriage as a direction and incomprehensibly reliant on want with homo-social relations shaping the fundamental groups towards satisfying the generally disguised hero convictions in marriage as a standardizing social situating organization. Austen at that point tries to uncover these abundances of female and male ‘homosocial’ and developmental want bonds which peak in either marriage disintegration or last goals. In tending to this subject, Austen utilizes ‘homosocial’ wants benefit to validate female prospects in marriage foundation. She continues to recover to various degrees of male centric imagery on sexual orientation class framework. The Theme of Triangulated Desires â€Å"Pride and Prejudice† In the content â€Å"Pride and Prejudice†, Austen presents a connection among Darcy and Bingley as that loaded up with ceaseless triangulated wants. The ‘steady friendship’ among Darcy and Bingley is an impression of an amazing obvious ‘homosocial’ bond that promptly shone at Meryton ball during their first gatherin g (Austen 1995, p.10). In spite of Bingley’s predominant social class, Darcy is exhausted in solid desirously when the last appreciates a hit the dance floor with â€Å"the just attractive young lady in the room† (Austen 1995, pp. 6-7). Brilliantly, this apathy showed by Darcy is more than circumstantial extravagant however a ceaseless want to hold Bingley in her arms. Darcy continues to hit the dance floor with Bingley’s most loved companion Jane. The suggestive triangle among Darcy and Bingley depends on ceaseless ‘homosocial’ wants with Jane being the intervening figure in sentiment. In this perspective, it is obvious that Darcy would be more joyful to hit the dance floor with Bingley as opposed to moving other than him holding a hetero figure. Since this feeling doesn’t not process, it is obvious that the wants of Darcy are not met. To adjust an undying want and ‘homosocial’ self image, Darcy continues to hit the dance floor with Bingley’s sisters other than straightforwardly prodding Elizabeth’s move offer guaranteeing that â€Å"I am in a respect at present to offer result to youngsters who are insulted by other men (Austen 1995, pp. 6-7). This is a response supposition Darcy is showing in the wake of feeling insulted by his boss ‘heterosocial’ friend’s cash. In doing as such, a peruser can recognize the lose end serious rationale for triangulated wants between two developed men who have a place with various social classes. Macpherson (2003) asserts,Advertising We will compose a custom paper test on Pride and Prejudice and Sense and Sensibility explicitly for you for just $16.05 $11/page Learn More In any sensual contention, the bond that connects the two opponents is as extreme and intense as the bond that joins both of the adversaries to the beloved†¦ the obligations of â€Å"rivalry† and â€Å"love,† diversely as they are experienced, are simila rly incredible and as a rule equivalent†¦ not by the characteristics of the dearest, however by the beloved’s previously being the decision of the individual who has been picked as an adversary (21). Other than the concealed wants at move party, Darcy turns into an impediment in the proposed relationship among Bingley and Jane. Darcy’s want for Bingley has completely blinded him and he admits that â€Å"I have no desire of denying that I made every effort to isolate my companion from your sister, or that I cheer in my success† (Austen 1995, p. 130). While admitting that Jane â€Å"want of association couldn't be so incredible a fiendishness to my companion as to me,† Darcy easily â€Å"preserve his companion from†¦ a most despondent connection,† expressing â€Å"other reasons for repugnance† as the â€Å"total need of appropriateness so regularly, so consistently betrayed† by the group of Jane (Austen 1995, pp. 134â€35). The topic of triangulated wants is introduced in the possessive envy of a ‘homosocial’ Darcy whose longing for Bingley can't permit him to relinquish the dream he has for him. In spite of this craving, Darcy creates an enthusiastic letter to Bingley to make an admission of a bombed relationship among him and Elizabeth. In a fascinating unforeseen development, the triangulated wants of Darcy lands on Lydia who is spared from social misery of being unfit for marriage. Macpherson affirms, Darcy spares Lydia not on the grounds that he thinks about Lydia or about the Bennetsâ€not even in light of the fact that he thinks about Elizabeth. Elizabeth recognizes that Darcy had â€Å"done this for a young lady whom he could neither respect nor esteem†Ã¢â‚¬ ¦ yet for reasons unknown, Darcy spares Lydia since he feels himself, without having â€Å"schemed to do wrong,† to be responsible for Wickham (16). Darcy is completely liable for the indefensible activities sho wed by Wickam. Actually, he concedes this as enlivened by ‘homosocial’ want rivalry. Thus, Darcy â€Å"becomes the better man in ‘homosocial’ rivalry with Wickham, and effectively courses his triangulated ‘homosocial’ want through the â€Å"heterosexual detour† of marriage in the novel’s inquisitively paltry denouement† (Macpherson, 2003, p.15).Advertising Searching for paper on english writing? How about we check whether we can support you! Get your first paper with 15% OFF Find out More After a long battle, Darcy reroutes his ‘homosocial’ interests in Bingley and Wickham and is introduced as a superior individual in the wake of resuscitating Elizabeth’s and Jane’s marriage plots. Subsequently, the new status position Darcy as a predominant male among the three guys with triangulated wants for ‘homosocial’ secret. Elizabeth is portrayed as a basically manly individual on account of her unladylike love for Jane. Austen attests â€Å"very strange to come by any stretch of the imagination! For what reason must she be rushing about the nation, since her sister had a cold† (Austen 1995, pp. 21-23). Elizabeth’s homoerotic abundances towards her sister Jane paint her as a component of the covered up ‘heterosocial’ society. Brilliantly, incorporating this in the topic of triangulated wants presents physical and passionate stubborn which is peaked in earth shattering satisfaction accomplishment. Elizabeth is d epicted severally as ‘feeling truly anxious’ and face sparkling in nearness of the sister more than it ought to be for careful love. Her inspiration towards demonstrating worries to Jane might be delegated a hetero romance with Jane being the sole object of extreme goal. These wants towards a female of same family show an understood ‘homosocial’ tendency in the sentimental valor portrayed as unfeminine. Strangely, these masculine highlights make the ‘homosocial’ Darcy pulled in to Elizabeth (Austen 1995, p. 24). â€Å"Sense and Sensibility† Literature is an energetic subject that requires creativity when perusing it. Creativity is a basic thing required to improve the way in which we see the portrayal and get it. Truly, from the outside center, a peruser can associate the

Energizing Red Bull Essay Example | Topics and Well Written Essays - 2750 words

Empowering Red Bull - Essay Example This article talks about that the â€Å"Red Bull †The Anti-Brand Brand† case exhibits the vital and worldwide development of caffeinated drink, Red Bull. Found in Asia by Dietrich Mateschitz as a beverage to help manufacturing plant profitability in 1982, the beverage turned into an easily recognized name by 2003 with deals in excess of 100 markets and a piece of the overall industry of 70%. Being a pioneer in caffeinated drinks portion, Red Bull is a creative item that strategically filled a hole in the market that just had espresso or normal squeezes as elective alternatives for vitality. Red Bull, a compund blend of taurine, caffeine and glucuronolactone, professed to help digestion, improve execution, increment focus and response speed, and expanded perseverance. Red Bull achieved operational greatness by having decentralized deals and dissemination channels, ensuring that the item was open and accessible consistently. The brand made high boundaries to passage by ensu ring there were â€Å"exclusive† organizations with solid wholesalers. The business groups created an emanation of â€Å"exclusivity† by handpicking starting wholesalers and conscious restricting of the gracefully. True to form in any industry, a developing business sector consistently draws in rivalry. In 2004, Red Bull confronted serious rivalry from goliath brands, for example, Coca-Cola and Pepsi who were building up their â€Å"health drinks† business and from private lables over the market. At present, the top rivalry for Red Bull is from Monster, Pepsi and Suntory. It is seen from ongoing reports that the piece of the overall industry of Red Bull slipped to 40% in 2010. (Privo, 2010). The accompanying review portrays the promoting and correspondence procedures that Red Bull shouls adjust so as to rebrand its picture and increment its deals to battle rivalry. Media Strategy Adopted by Red Bull for the situation Key Customers and Customer fragments The key clients for Red Bull were Generation Y-ers (18-multi year olds) who were the fundamental buyers of â€Å"extra energy† ventures. Beforehand, these clients paid special mind to items (in some cases unlawful, for example, alchohol to give them the additional rush in their lives. Inside the youthful grown-ups client gathering, Red Bull portioned them further to modify their limited time exercises as for their requirements. These portions are: Club-goers: All gathering cherishing individuals who love a lively nightlife, as to move and drink. These clients were the significant purchasers of exciting vodka-red bull blend. Outside fans (Skiers, Skate-visitors): Outdoors aficionados, for example, skiers, snowboarders needed Red bull to keep their vitality levels high during their undertakings. Extraordinary Sports and Action games sweethearts: Lovers of outrageous games and activity games, for example, racecar, bicycle hustling and skydiving and so forth likewise devoured Red Bull wi th get-up-and-go. Hardcire Music fans: Music fans that routinely go to performances, live performances and other music social occasions were likewise clients of caffeinated drinks as Red Bull. Understudies: Students who required additional vitality during their tests and college classes were another fragment of Red Bull shoppers. Item Positioning The makers of Red Bull made a creative specialty for itself by situating the item as an alternate, cool and defiant item, which is accessible at a higher cost than normal. Dietrich Mateschitz purposely isolated Red Bull from carbonated beverages (pop), juices or espresso. (Joyner, 2011). Key Messages and Brand Positioning The brand situating and key messagers were gotten from out of the item benefits and delayed consequences: Red Bull vitalizes body and psyche. This key message turned into the core of every single limited time movement encompassing Red Bull with brand traits as creative, revolting, self unexpected, keen, free thinker, self- assurance, puzzling, clever, enchanting, polarizing and unusual. Red Bull’

Frederick Douglasss Speeches essays

Frederick Douglass' Speeches articles Frederick Douglass attempted to bring out a craving for Liberation among the African-American individuals in his compositions and speech. To numerous individuals, Douglass had all the earmarks of being the dark Moses, driving his kin to opportunity truly, yet intellectually and arriving by peaceful methods. Douglass accepted that in the event that he could effectively show that blacks were in truth equivalent to whites, he believed that thusly everybody would perceive this and shut down bondage. Frederick Douglass has risen as the delegate dark male essayist of his timespan. As is notable, Douglass, the child of a slave lady and a white slave driver, spent the initial segment of his life as a slave in Maryland, getting away to New Bedford, Massachusetts in 1838 (Levine 3).Fearing outlaw slave trackers, Douglass cruised to the British Isles, and when he returned in 1847, he set up the North Star, therefore starting a sixteen-year profession as a proofreader and distributer of three distinctive abolitionist papers. In this journalistic profession, he printed an extended adaptation of his collection of memoirs, My Bondage and My Freedom (1855), a book that enunciated a portion of the key principles of his papers moderation and the significance of seeking after dark rise in the United States. As a slave himself, Douglass in his individual typifies the conceivable outcomes of recovery. In My Bondage and My Freedom, Douglass flags his entrance into progressive convention. Furthermore, in this way he introduces himself in his life account as a national delegate, battling for its good and political standards as well as for the very progress that filled in as an establishment for the improvement of those standards. In this work, Douglass inferring that blacks, by following Douglasss agent model, can defeat what Douglass alludes to as the ten thousand demoralizations ... which best their reality, in this nation (Holland 58) he in any case ... <!

Definitions of College Admission Essay Examples about Yourself

Definitions of College Admission Essay Examples about Yourself Whatever They Told You About College Admission Essay Examples about Yourself Is Dead Wrong...And Here's Why An excellent college essay introduction is essential to making your essay stand out, so there's a great deal of pressure to receive it exactly perfect. There's not any reason to rush your essay. There are lots of steps which you can follow to make sure your essay prompts are answered in the best way possible. Our admission essay examples can prove that we're here in order to provide simply the very best assistance to assure you which you submit an application essay you can be confident in. Individual schools sometimes require supplemental essays. As you are interested in getting the essay to communicate the very best information about you, you have to do thorough preparation for the sample college admission essays to attain its purposes. Possessing a very clear and structured plan is the foundation for any great bit of writing, and a college essay is the same. Higher education isn't about memorizing the most suitable facts it's about figuring out how to learn. The large part of the essay employs standard English and English grammar. Take into consideration the piles and stacks of essays that you may have to read. Thus, essays have come to become an inseparable part of academics. You're going to write one of the most essential essays of your life. The Unusual Secret of College Admission Essay Examples about Yourself You're able to easily depend on us to find essay help as we have a tendency to assist and guide the students with the aid of our professional experts. If you've already graduated from college or university and are looking for a fantastic job, you want to get a persuasive resume to impress your future employer. Although each facet of your college application is essential, a strong college admission essay is just one of the most essential elements of the application. One of the most difficult elements of college life is finances. Aside from having an exceptional SAT score, you would need to develop the best college essay. The admissions teams are interested in finding authenticity and caliber of thinking. Simply speaking, college forced me to learn to learn. Whenever you have the last score that you're pleased with, after that you can send only that score to all of your schools. Ok, I Think I Understand College Admission Essay Examples about Yourself, Now Tell Me About College Admission Essay Examples about Yourself! If you're beginning to feel frustrated or overwhelmed by your essay, take a rest and do something different. The essay is the initial impression and very possibly the only time you'll have the chance to provide an impression of who you are. The essays act as a glimpse into how your mind works, how you see the world and offers perspective. A strong essay can provide you the ideal opportunity to get in the school that you dream about. The essay doesn't have any grammatical errors, and a co uple of the short, punchy phrases reveal a high level of rhetorical sophistication. If do not have any idea what an essay depicting your person should include, you might get inspired by another individual. A brief sentence is utilised to produce the emotional resolution of the admission essay. Following your initial draft is finished, allow it to sit for no less than a day. So whenever you're composing an essay, you're harnessing the detailed might of civilization to your life. In both instances, you hit your target of greater reader engagement. Sometimes, deeper reflection can aid you in finding an even greater subject to write about than your very first impulse. The subject of the sentence always must be expressed. Selecting a college is among the how to compose a great application essay english critical decisions you could ever make. Tell our experts what sort of homework help on the internet you want to get. Download our free guide on the top five strategies you have to be using to boost your score. Instead, it's going to be useful that you inspect for common errors. You should think about your topic so you can fix your question like a puzzle. The reply is, you believe. To make sure that you will locate a complete answer to every question, we've got a support team that is always online.

Malincho Case Study Essay - 642 Words

Malincho Case Study The Timmons entrepreneurship is a model that considers opportunities teams and resources available to an entrepreneur and holds that success depends on the ability of the entrepreneur to balance these critical factors. When applying the first part of the Timmons model to the Malincho case, Kalin got the idea of importing feta cheese and selling it to fellow Bulgarians on the East coast of America who were hungry for a taste of home. Once he identified this opportunity, he set to work putting together the necessary resources to make his business a reality. He had to find a good supplier to order large quantaties of quality cheese and have it shipped to him. This also meant a lot of research on the U.S. Customs†¦show more content†¦He knew that some of his customers were hesitant to use credit cards because of scamming reasons, so he prided himself in making personal connections with his customers to earn his trust and eventually their business. There a re many concerns a potential investor would bring up to Kalin. The state of how the product arrives is a very important part. The first container he received was busted and in terrible shape. It took Kalin with the help of trusted friends to put the pieces back together again and make the product anew. This would be a serious problem because with all he money invested the product could arrive spoiled, not in the containers at all, or as it did the first time which was a huge mess. Another problem he ran into was not having a proper way of transporting his goods to various vendors. He rented trucks and went to these retailers who in turn street-style haggled with him. For one, he was so busy arguing trying to break even or make more people tried to take advantage of him. He didn’t have a sure fire way of distributing the product and because he was trying to cut down on cost of hiring others, he did it alone. He realized the truck rental alone would eat up 20% margins h e was struggling to uphold. Investors do not want to see you struggling to sell the product they put their moneyShow MoreRelatedMica Case Malincho Essay632 Words   |  3 PagesMICA Case Study: Malincho 1. Timmons Model of Entrepreneurial Process The Timmons model was developed by Jeffery Timmons to help entrepreneurs improve their odds of success. The model centres on that the entrepreneurship is opportunity driven. According to this model, first of all, it is the entrepreneur, who is the driving factor in launching a new company. Within the three components, the process starts with a market opportunity, where the size and type of opportunity will define the teamRead MoreMalincho Case1155 Words   |  5 Pages Malincho Case Study Analysis By: Faraz, Jadee and AmbreenProfessor: Tobar Byron Subject: International Strategic Management (BMI703) Date: 09/ 08/ 2014 Table of contents Executive summary the Problem/Opportunity the Organization’s current mission, goals and strategies the company s internal strengths and weakness (SWOT analysis) recommendation Selected recommendation Action Plan Implementation Conclusion Executive summary: Kalin is a Bulgarian entrepreneur. He tried toRead MoreBa470 Week 1 Assignment791 Words   |  4 PagesMalincho Case Study Kalin searched for an opportunity, and on finding it, shaped the opportunity into a high-potential venture by drawing up a team and gathering the required resources to start a business that capitalized on the opportunity. In the process of starting the business, he risked his career, personal cash flow and net worth. The Timmons model bases itself on the premise that Kalin will earn rewards in commensuration with the risk and effort involved in starting or financing the business

The Importance Of A Training Manual For People Who Adopt...

The purpose of this report is the RSPCA has assignment me to create a training manual to be given to people who adopt cats and dogs. The animal I’ve chosen to do for this task is a dog. The creation of this training manual requires a complete understanding of each theory and process of learning which includes providing an informative report with clear instructions for owners to use when training their new pets. The discussion focus on several mandatory elements required for the construction and development of a clear and precise report based on the aspects of a training manual for people who adopt a family pet. It outlines: - Background information on three theories and processes of learning: ïÆ'Ëœ Classical Conditioning ïÆ'Ëœ Operant Conditioning ïÆ'Ëœ Observational Conditioning - A step-by-step guide of how each theory of learning can be applied to allow a dog or cat to learn a desired behaviour - Conclusions about the effectiveness of each training method by referring to its strength and/or limitations In conclusion, a detailed understanding of the aspects of each theory and process of learning in the development of a training manual is highly important for the adoption and training of cats and dogs. The RSPCA has taken a lot of care in maintaining these aspects in order to succeed in people adopting cats and dogs. Classical Conditioning: Classical conditioning refers to the learning through association. 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Case Study Comparative Business Ethic & Social Responsibility

Question: Case Study: Comparative Business Ethics Social Responsibility. Answer: In present competitive businesses environment, corporate social responsibility has emerged as one of the most important factor that every organizations have to follow. According to Christensen, Mackey and Whetten (2014) social responsibility is a concept that induces organizations to concern about many other things apart from the revenue only. In fact, the social responsibilities have a major role in the businesses of the companies as well. As per the article by Sebhatu and Enquist (2014) organizations are a part of the society. Therefore, organizations have to consider about the well-being of the society in order to represent itself as one of the responsible members of the society. Otherwise, it can damage the image and reputation of the organizations. Starbucks regarded as one of the major coffee company of the entire world. The company established in the year of 1971. From the beginning of its businesses, Starbucks has able to gain huge popularity among its customers (Cha, Yi and Bagozzi 2015). It helps the organization to enhance its image among the customers. Therefore, Starbucks always remains very careful regarding the kind of affect any of its business strategy will have on the customers mind. Social responsibility is among those strategies that Starbucks consider very seriously. In many studies highlighted the fact that Starbucks is the global leaders in many of the key areas of social responsibilities (Elkington and Fisk 2014). Therefore, it has huge impact on the entire image and reputation of the company. Starbucks image includes organizations commitment to sustainability and ethics. The study highlighted the fact that Starbucks launched a website named shared planet to address ethics related issues. The prime aim of this website is to achieve environmental stewardship, ethical sourcing and greater community involvement. It illustrates the kind of emphasize that the company has provided on the social responsibility. The company also associated with number of nonprofit organizations in order to help needy people of the society. Hence, study evaluated the fact that the Starbucks is hugely concerned regarding its image on the society. According to Pearce and Doh (2012) in modern competitive business atmosphere, organizations tries to maintain its social responsibility not only to help the society to move forward but it also helps the organizations gain competitive advantage in the market. Since, maintaining social responsibility allows organizations to develop a strong reputation from it self. In addition, Starbucks is the largest buyer of Fair Trade Certificate coffee (Korschun, Bhattacharya and Swain 2014). Therefore, the company has able generate huge amount of reputation for the company due to many years of good work. Thus, it is obvious that the company will try everything to maintain its reputation and image within the society in which they are doing businesses. Since, any negative impact on the social image or reputation can have major impact on the businesses of the company. As a result, it is obvious that Starbuck will try everything so that the company can able to maintain its reputation in the market. Another factor that keeps Starbucks concerned towards the social responsibility is the kind of potential negative impact it can have towards the company. As mentioned earlier, Starbucks has able to create huge reputation for it by performing its social responsibility to its fullest. For instance, Starbucks has collaborated with Paper Recovery Alliances to address the social issues related to the packaging of the products. As per the article by Scherer et al. (2016) waste that comes from the packaging of the products has not only created huge amount of negative impact on the environment of the society but also has induces government to spend huge amount of money so that people whom are living in the society can able to live a healthy life. However, as the amount of waste is keep increasing, it actually creating huge challenges for the company. Thus, waste management initiative taken by Starbucks has able to gain praise from all sector of the society. The study highlighted the fact that Starbucks makes almost 14.5 million loans to the poor farmers and planning to increase the amount to 20 million in 2015. In the year of 1998, Conservation International combined with Starbucks to promote sustainable agricultural practices. The company also developed many campaign for preventing deforestation. This highlighted the fact the concern of Starbucks on the overall development of the society. It also emphasizes the fact that Starbucks not only want to represent itself as one of the major coffee provider of the world but also want to represent itself as a responsible citizen of the society. Therefore, it is obvious the Starbucks will concern hugely on the social responsibility at the time of developing corporate strategy. Another important factor that induces the company to maintain social responsibilities in the workplace is because of the childhood experience of Howard Schultz, the CEO of Starbucks. As Howard experiences his father condition because of the unsympathetic behavior by the employer, Starbucks focus to provide all its employees an atmosphere in which they can able to work healthily. Traditionally, Starbucks has able to maintain proper ethics and social responsibility in order to maintain strong relationship with the employees as well as with the suppliers. Especially, Starbucks has commendable relationship with the small size coffee suppliers. Since, Starbucks is the most popular organization in the coffee industry. Therefore, it can easily able to collect raw materials from the top most raw materials of the world but the company believes in providing all other suppliers the opportunity so that they can able to grow in the market. Starbucks Coffee and Farmer Equity Practices highlighted the social practices at the time of collecting raw materials from the farmers. Starbucks comparatively pay higher prices to the farmers in order to help them and their families to lead a healthy life. As opined by Eteokleous, Leonidou and Katsikeas (2016) Starbucks believes that in the theory of People first and profit last. Therefore, the organizations always keen to implement strategies that will help the organization to develop strong relationship with both internal as well as external stakeholders. Thus, all the strategies of Starbucks developed in such a way that it not only helps the company to gain profit but also induce them to perform all its social responsibility carefully. The study highlighted that Starbucks is one of the top most organizations regarding the kind of benefits that the organizations provide to all its employees. As mentioned earlier, Howard Schultz has faced lack of money at the time of growing up. Since, his father was treated unsympathetically by an organization and does not provide them the necessary health benefits that every individual expected to have at the workplace. As a result, Starbucks was developed with believe that every organization should value all their employees. The childhood experience also induces Howard Schultz to make sure that none of the employees from Starbucks will have to face situation that his father had to face. Thus, the company always put huge amount of focus to ensure every employees of the organization can actually able to receive high benefits level so that they can able to lead a healthier and happy life (Hill, Jones and Schilling 2014). This highlighted the unique perspective of the Starbucks as com pared to any other organization. According to Orlitzky (2013) the company has its unique way of treating all its employees. Since, the company offer arrangement of benefits to all the employees that are completely unheard of for coffee shop organization. Especially, Starbucks has paid huge amount of benefits to all its employees regarding their health, which very few organizations in the world will even think to consider. The corporate strategy of Starbuck focus on to create a healthy and friendly job environment in which every employees can able to share their believes and thoughts. According to Rothaermel (2015) one of the key to the success of any organization is to develop an atmosphere and job environment that can increase the satisfaction level of the employees. Now, as mentioned earlier, Starbucks is one of the few companies in the world that provide high level of benefits to all its employees. Therefore, the company has able to develop a workforce whom is highly motivated towards their work. Thus, it allows Starbucks to operate to the maximum level of efficiency. This helps the organization to achieve a high profit level. As a result, Starbucks has able to provide the high level of benefits to all its employees. However, the study highlighted the fact that Starbucks is so concerned about the health level of its employees that it can even ready to cut short the businesses of the company. For instance, the company closed almost 10% of its stores in the year of 2008 so that it can able to provide the same level of health insurance to all its employees. This emphasizes how concerned Starbucks is for their employees. As per the article by Scherer, Palazzo and Trittin (2015) in this challenging business environment, everyone is trying to implement any strategy that have the potential to increase the present level of revenue for the company whereas Starbucks actually cutting its business opportunities so that it can able to provide high level of benefits to the employees. Thus, the company is unique not only in providing high level of benefits to the employees but also unique in terms of the mindset of conducting business. Hence, this unique mindset in conducting businesses has great roles in provi ding high level of benefits to the employees. However, as per the article by Park, Lee and Kim (2014) revenue level also has huge amount of impact on the provided benefits to employees. Since, the company has able to gain huge amount of popularity in all over the world. It increases the revenue level of the company. This allows organization to provide this amount of benefits. The quality of products provided by Starbucks has able to increase the satisfaction level of the customers. This also helps the company to emerge as one the most popular brands of the world. Particularly, at the time of economic crisis, the company has able to restructure its strategy effectively. For instance, Starbucks upgrades its coffee brewing machines, introduced new items at a relatively low price and refocusing in its core product has able to attract customers all over the world. Therefore, the revenue level of the company remains almost unaffected. This also allows the organization to spend for the well-being of the employees (Chandler and Werther Jr 2013). Starbucks also focuses immensely on the present level of services in order to increase the satisfaction level of the customers. As a result, it able to attracts people from all parts of the world, which induces the company to provide high level of benefits to each of its employees. According to Green and Peloza (2014) ethical and social responsibility has major impact on the businesses of the company. Specifically in the present competitive business environment, every organization is trying to implement strategies that will help the organization to gain competitive advantage in the market. Thus, maintaining social responsibility helps organizations to develop a strong reputation for them. As a result, more and more customers get attracted to the product and service offering of the company. In addition, the study highlighted that Starbucks is one of the top most organizations of the world that perform all necessary social responsibilities very carefully (Vallaster, Lindgreen and Maon 2012). This helps the organization to get close to its customer, as performing social responsibility helps to develop a emotional relationship with individuals from the society. Thus, maintaining social responsibility and business ethics does helps Starbucks to gain competitive adva ntage in the market. The study mentioned that Starbucks has always able to move one step ahead with its innovative thought process which allow the company to gain popularity in the market. For instance, Starbucks has developed environmental mission statement in the year of 1992 that way before the concept of go green adopted in the market by other organization (Green and Peloza 2015). By the statement Starbucks focuses on to minimizes the waste and also looks to recycle it so that it had minimum negative impact on the environment. Therefore, Starbucks tries to offer plastic cups with different sizes at a price $1. Since, the cups can be reused to at least 30 times, which will minimize disposal of around 4 billion cups from the entire world. Hence, it can potentially have major positive impact on the environment. Another major ethical factor that has played important role in developing popularity for the company is the way the company has treated all its employees. As mentioned earlier, Starbuck believe in People first, profit last policy (Caruana and Chatzidakis 2014). Therefore, it always focuses on to providing the best possible benefits to the employees so that all the employees of the organization can able to live a healthy and happy life. In fact, the company is so concerned with the well-being of the employees; it is ready to cut its profit to a great extent. As opined by Mallory and Rupp (2014) ethical practices in business will primarily have to focus on the perspectives of people such as employees, customers and suppliers associated with the business. In this case study, it was mentioned that Starbucks has able to develop a strong relationship with all its stakeholders from the beginning of the business with its unique thought process. For instance, practices like closing 10% of sto res of the company just to ensure that the benefit level of the employees don not get affected is just something else, as many other well known company will take the other option of cutting the number of employees so that the profit level of the company remains in a satisfactory level. On the other hand, the study also mentioned that Starbucks has shown great commitment to its entire supplier to help them to grow in their businesses. The study also mentioned that Starbucks consciously tried to provide high prices to the farmers so that they can able to live a healthy life. It also provided almost $70 million loans to support farmers so that they can able to live a healthy life. Starbucks also tried to engages with different size of suppliers so that the entire coffee businesses can able to grow together. As per the article by Drumwright and Murphy (2014), Starbucks has been considered as one of the top organizations in the world regarding the maintenance of ethical practices. The co mpany also has invested huge amount of money in the development of the health clinics and schools so that the society can able to grow efficiently. As a result, the company has able to gain huge amount of popularity among the people all across the world. This has major impact on the businesses of Starbucks. Hence, it can be said that the ethical and social responsibility practices does have major influence on the businesses of Starbucks. On the other hand, Starbucks has also provided high quality product and services in order to gain the popularity among the people all over the world. It also has able to introduce new product offering so that it can able to keep all the customers associated with the organization. The company also has put in huge amount of effort to ensure that the quality of the products can be remaining intact (Fontaine 2013). The study highlighted a case where Starbucks enlisted around 1000 customers for over the period of 1500 hours in order to make its new product flavor perfect. Thus, it enlightens the fact how conscious Starbucks is regarding to its quality of the product. The study also highlighted that Starbucks held the largest countrywide coffee testing in order to make sure that the company has able to provide the highest quality of products (Carroll, Primo and Richter 2016). Starbucks has also joined with Conservation International to make sure that the coffee beans that will used by the company is in the highest quality. It allows the company to deliver coffee of highest quality to attract major portion of the customer. Thus, it can be state that Starbucks product quality and variety of product offering has major impact on the businesses of the company. Another major aspect that Starbucks keep in mind is the customer satisfaction level at the time of visiting the shops of Starbucks. The management of the company believes that customers experience will have to be consistent in all the stores of Starbucks. Otherwise, the service level of the company will not able to achieve the desired amount of customer satisfaction level. The study mentioned that Starbucks replaces its coffee machines with the new high-tech ones so that the customers feel attracted towards the products of the company (Antonetti and Maklan 2014). In addition, Starbucks also introduced mobile payment apps namely Square Wallet to enables customer to pay without using credit or debit cards. This has created major impact on the satisfaction level of the customer. The study also mentioned that Starbucks also tried label the amount of calories each of their product has printed on its packaging so that health conscious customers can able to purchase the product of the compa ny much more freely (Ragas and Culp 2014). Starbucks also tried to provide e-Gifts to the customers to keep them happy and satisfied with the product and services of the company. In order to maintain a good environment, Starbucks has tried to implement three things. Firstly, the management circulated comment cards and mission statement to all new partners. Secondly, the company consciously tries to relate guiding principles it support. Thirdly, Starbucks developed a mission review system to evaluate it strategy with principle of the company. Thus, it highlighted the fact that the company has put in huge amount of effort to ensure that the companys environment remains in good order so that it can more focus on the customer needs and wants. Thus, it can be said that the success of Starbucks is a combined result of both the factors. As Starbucks has mange to implement both the factors top gain popularity in the market. References: Antonetti, P. and Maklan, S., 2014. An extended model of moral outrage at corporate social irresponsibility.Journal of Business Ethics, pp.1-16. Carroll, R.J., Primo, D.M. and Richter, B.K., 2016. Using item response theory to improve measurement in strategic management research: An application to corporate social responsibility.Strategic Management Journal,37(1), pp.66-85. Caruana, R. and Chatzidakis, A., 2014. Consumer social responsibility (CnSR): Toward a multi-level, multi-agent conceptualization of the other CSR.Journal of Business Ethics,121(4), pp.577-592. Cha, M.K., Yi, Y. and Bagozzi, R.P., 2015. Effects of Customer Participation in Corporate Social Responsibility (CSR) Programs on the CSR-Brand Fit and Brand Loyalty.Cornell Hospitality Quarterly, p.1938965515620679. Chandler, D. and Werther Jr, W.B., 2013.Strategic corporate social responsibility: Stakeholders, globalization, and sustainable value creation. Sage Publications. Christensen, L.J., Mackey, A. and Whetten, D., 2014. Taking responsibility for corporate social responsibility: The role of leaders in creating, implementing, sustaining, or avoiding socially responsible firm behaviors.The Academy of Management Perspectives,28(2), pp.164-178. Drumwright, M.E. and Murphy, P.E., 2014. Ethical Issues of Social Marketing and Persuasion.The Handbook of Persuasion and Social Marketing, p.175. Elkington, J. and Fisk, P., 2014. Crane A., and D. Matten (2010). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalisation (Oxford, UK: Oxford University Press). An excellent entry-level textbook about the world of business ethics. This cov-ers the foundation of business ethics, applying understandings to each of.The Business Student's Guide to Sustainable Management: Principles and Practice, p.76. Eteokleous, P.P., Leonidou, L. and Katsikeas, C., 2016. Corporate social responsibility in international marketing: review, assessment, and future research.International Marketing Review,33(4). Fontaine, M., 2013. Corporate social responsibility and sustainability: the new bottom line?.International Journal of Business and Social Science,4(4). Green, T. and Peloza, J., 2014. How do consumers infer corporate social responsibility? The role of organisation size.Journal of Consumer Behaviour,13(4), pp.282-293. Green, T. and Peloza, J., 2015. How did the recession change the communication of corporate social responsibility activities?.Long Range Planning,48(2), pp.108-122. Hill, C., Jones, G. and Schilling, M., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Korschun, D., Bhattacharya, C.B. and Swain, S.D., 2014. Corporate social responsibility, customer orientation, and the job performance of frontline employees.Journal of Marketing,78(3), pp.20-37. Mallory, D.B. and Rupp, D.E., 2014. Good Leadership: Using Corporate Social Responsibility to Enhance LeaderMember Exchange.The Oxford Handbook of Leader-Member Exchange. Orlitzky, M., 2013. Corporate social responsibility, noise, and stock market volatility.The Academy of Management Perspectives,27(3), pp.238-254. Park, J., Lee, H. and Kim, C., 2014. Corporate social responsibilities, consumer trust and corporate reputation: South Korean consumers' perspectives.Journal of Business Research,67(3), pp.295-302. Pearce, J.A. and Doh, J.P., 2012. The high impact of collaborative social initiatives.Sloan Management Review,46(2). Ragas, M.W. and Culp, R., 2014. Corporate Social Responsibility. InBusiness Essentials for Strategic Communicators(pp. 109-122). Palgrave Macmillan US. Rothaermel, F.T., 2015.Strategic management. McGraw-Hill. Scherer, A.G., Palazzo, G. and Trittin, H., 2015. The Changing Role of Business in Global Society: Implications for Governance, Democracy, and the Theory of the Firm. InTransnational Corporations and Transnational Governance(pp. 355-387). Palgrave Macmillan UK. Scherer, A.G., Rasche, A., Palazzo, G. and Spicer, A., 2016. Managing for Political Corporate Social Responsibility: New Challenges and Directions for PCSR 2.0.Journal of Management Studies,53(3), pp.273-298. Sebhatu, S.P. and Enquist, B., 2014. Are Corporate Governance and Corporate Social Responsibility having a role for sustainable Service Business?: An explorative study of IKEA, Starbucks and H M. InThe 17th QMOD conference, September 3-5, Prague Tjeckien. Vallaster, C., Lindgreen, A. and Maon, F., 2012. Strategically leveraging corporate social responsibility.California Management Review,54(3), pp.34-60.

Crm in Hdfc Standards Life Insurance Essay Example

Crm in Hdfc Standards Life Insurance Essay CLAUSE 49 AN ANALYSIS 3RD Directors’ Leadership Programme Organised by Centre for Corporate Governance Indian Institute of Management, Calcutta December 14, 2007 Dilip Kumar Sen CLAUSE 49 OF LISTING AGREEMENT WITH STOCK EXCHANGES INTRODUCED BY SEBI WEF 1ST APRIL 2000 BASED ON BIRLA COMMITTEE RECOMMENDATIONS SIGNIFICANTLY REVISED FROM 1ST JANUARY 2006 BASED ON PROPOSALS OF MURTHY COMMITTEE- CLAUSE 49 OF LISTING AGREEMENT WHICH APPLIES TO ALL LISTED COMPANIES HAS BEEN ONE OF THE MOST TALKED ABOUT ISSUE. AFTER THE CLAUSE WAS FIRST INTRODUCED BASED ON THE PRACTICE FOLLOWED IN DEVELOPED COUNTRIES AND ALSO KEEPING IN MIND THE OECD PRINCIPLES ON CORPORATE GOVERNANCE THE CORPORATE WORLD HAS WITNESSED THE ENRON FIASCO AND THE ENACTMENT OF SARBANES OXLEY ACT IN THE USA . ARTHUR ANDERSEN THE AUDITORS OF ENRON WAS FOUND GUILTY BY THE US JURY ENRON IS JUST AN EXAMPLE – THERE WERE MANY OTHER LARGE CORPORATES WHERE INVESTIGATIONS HAD REVEALED HOW INFLATED EARNINGS WERE REPORTED AND HOW FINANCIAL REPORTINGS WERE MANIPULATED. SOX ACT WHICH IS CONSIDERED AS A TOUGH ACT AIMED TO PLUG THE LOOPHOLES AND REQUIRED THE CORPORATES TO STRICTLY FOLLOW THE REQUIREMENTS OF THE ACT. OUR CG REQUIREMENTS HAVE BEEN REVISED KEEPING IN MIND SOME OF THE PROVISIONS OF THE SOX ACT EVEN THOUGH WE ARE SOMEWHAT LENIENT . A FLAVOUR OF A FEW ONEROUS CLAUSES OF SOX ACT ARE: 1. Section 201- List of services outside the scope of Auditors – Auditors cannot provide services such as Book keeping, financial information system design/implementation, internal audit, actuarial , valuation, investment adviser, expert srervices unrelated to audit etc. we still do not have any such prohibition 2. SECTION 302- CEO/CFO CERTIFICATION OF FINANCIAL STATEMENTS and review of internal control system and its deficiencies This requirement has been incorporated in clause 49 but an important requirement i. e. evaluation of the effectiveness of internal control systems as of a date within 90 days prior to the reporting date has not been adopted. Als o in India CEO/CFO need to certify only annual financial statements and quarterly statements are still not required to be certified 3. We will write a custom essay sample on Crm in Hdfc Standards Life Insurance specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Crm in Hdfc Standards Life Insurance specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Crm in Hdfc Standards Life Insurance specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Section 401- Financial statements are to be accurate and do not include incorrect statements or fail to include material information and in particular it should include off-balance sheet transactions/liabilities and obligations; 4. Section 404 – Management assessment of internal control- its adequacy and effectiveness – Auditors to report on efficiency of internal control structure and procedure for financial reporting 5. Section 406 – A code of ethics for senior financial officers 6. Section 409 – Real time disclosure on material changes in financial condition or operations- disclosure to be made in a manner easy to understand 7. Section 802- Penalties by way of fines and imprisonment upto 20 years for altering, falsifying, manipulating records/documents CERTAIN BASIC REALITIES ON CG 1. LEGISLATION/REGULATIONS PER SE CANNOT AND PERHAPS WILL NEVER BRING IN GOOD GOVERNANCE 2. CG IS ALWAYS A TOP DOWN PROCESS 3. ORGANISATION CULTURE AND THE MINDSET OF THE PERSONS AT THE HELM OF IT ARE KEY TO ACHIEVING EXCELLENCE IN CG 4. BOARD ROOMS ARE NOT MEANT TO BE PLACES WHERE ONLY GOOD NEWS ARE TO BE MENTIONED. IT IS IMPORTANT IN MY VIEW TO SHARE WITH THE BOARD ALL BAD NEWS AT THE EARLIEST OPPORTUNITY WITHOUT CREATING ANY PANIC 5. INDEPENDENCE OF A DIRECTOR CAN NEVER BE ENSURED BY LEGISLATION – WHAT MAY WORK IS PERIODICAL TRAINING AND EDUCATION OF DIRECTORS A DIRECTOR WHO OSSESSES AN INDEPENDENT MIND IS MOST LIKELY TO FUNCTION INDEPENDENTLY EVEN IF LEGALLY HE IS NOT INDEPENDENT –DO WE LOOK FOR A TECHNICALLY INDEPENDENT DIRECTOR WHILE FILLING IN A VACANCY ? WHY DOES POST ANY ACQUISITION WHEN BOARD IS RESTRUCTURED THE ERSTWHILE IDs ALSO STEP DOWN 6. ARE BOARDS SUPPOSED TO INTERVENE IN TIMES OF CRISIS ONLY? DECISIONS HOWSOEVER UNPLEASANT IF NOT TAKEN TIMELY WOULD ONLY ADD TO COST AS TIME REQUIRED FOR CORRECTIVE ACTIONS WILL BE LONGER ! 7. IN THE ERA OF CG ARE THE DAYS OF FRIENDLY AUDITORS ON THEIR WAY OUT ! DO WE WITNESS A CHANGE IN APPROACH AND ATTITUDE OF AUDITORS ? WHAT IS CG AND WHY DO WE NEED CORPORATE GOVERNANCE CORPORATE STRUCTURE 1. SEPARATION OF OWNERSHIP AND MANAGEMENT 2. COMPANY IS AN ARTIFICIAL PERSON IN THE EYE OF LAW AND CAN ACT ONLY THROUGH AGENTS 3. DIRECTORS OF A COMPANY ARE THEREFORE AGENTS FOR THE COMPANY 4. DIRECTORS OCCUPY A FIDUCIARY POSITION AND ARE EXPECTED TO ACT IN GOOD FAITH IN THE INTEREST OF THE COMPANY. 5. DIRECTORS ARE NOT TRUSTEES IN THE STRICT SENSE OF THE TERM THOUGH THEY MANAGE SHAREHOLDERS’ FUNDS THESE ARE SOME OF THE CARDINAL PRINCIPLES ON WHICH CORPORATES OPERATE. IN OUR COUNTRY WE ALSO FIND LARGE NUMBER OF CORPORATES MANAGED BY FOUNDING FAMILIES. THERE APPEARS TO BE AN IMPLICIT ACCEPTANCE THAT CORPORATE ENTITIES BELONG TO THE FOUNDING FAMILIES . EVEN WHEN THE SHAREHOLDING/VOTING POWER OF THE FOUNDERS IS LESS THAN ONE-THIRD OF PAID-UP CAPITAL THEY CONTROL THE BOARD AND MANAGEMENT. Clause 49 contains a series of Mandatory items and seven non mandatory items which are to be followed by Listed companies. Mandatory items include 1. Board composition – Definition of Independent director – Code of conduct for board members and senior management and affirmation of compliance thereof –Review of legal compliance –Disclosure of remuneration of non executive directors – restriction on membership of board committees – board to meet at least 4 times a year 2. Audit committee- Minimum 3 directors as members with two-third as IDs-All members to be financially literate and at least one member must have expertise on accounting or financial management –Chairman to be an ID-must meet at least 4 times a year has wide powers to investigate any matter and can obtain outside legal advice – Role of the committee and review of information by it 3. Subsidiary companies – One ID of holding company to be on the board of material non-listed Indian subsidiary – Audit committee of holding company to review financial statements of subsidiaries including investments made – board meeting minutes of subsidiary companies to be placed before the board of holding company. 4. Disclosures – Disclosures on Related Party transactions, Accounting treatment if different from what the Standard prescribes- Risk assessment and minimisation procedures – use of proceeds from public issues/rights /preferential issues – Remuneration of Directors –Management discussion and Analysis report – disclosure by Senior management to the board relating to their interest in all material commercial and financial transactions- disclosure to shareholders on particulars of directors seeking appointment/reappointment –quarterly results and presentation to analysts to be hosted on web site – to form a board committee under Chairmanship of a NED to redress shareholders grievances etc 5. CEO/CFO certification of annual financial statements 6. Quarterly report on compliance of CG norms to be submitted to SEs 7. Annual report to contain CG report as per prescribed format which is to be certified by Auditors NON MANDATORY ISSUES 1. MAINTENA NCE OF CHAIRMAN’S OFFICE 2. REMUNERATION COMMITTEE TO BE FORMED WITH ONLY NON-EXECUTIVE DIRECTORS AND CHAIRMAN OF THE COMMITTEE TO BE AN INDEPENDENT DIRECTOR 3. HALF YEARLY FINANCIAL RESULTS INCLUDING SUMMARY OF SIGNIFICANT EVENTS IN THE SIX MONTHS TO BE SENT TO ALL SHAREHOLDERS 4. Companies should move to a regime of unqualified audit report on financial statements 5. Companies may train its board members on business model of the company, its risk profile, responsibilities of directors and the best way to discharge them 6. Evaluation of performance of Board members – Peer group evaluation of performance of non executive directors could be the mechanism to determine whether to extend or continue the terms of appointment of non executive directors 7. Whistle Blower Policy – The company may establish a mechanism for its employees to report concerns about unethical behaviour, actual or suspected fraud, or violation of company’s Code of Conduct . The mechanism should provide adequate safeguards against victimisation of employees who avail the mechanism and also provide direct access to the Chairman of Audit committee in exceptional cases. WHAT THE GOVERNMENT HAS DONE SO FAR TO IMPROVE CG UNLIKE SOUTH EAST AND EAST ASIAN COUNTRIES THE DRIVE FOR BETTER CORPORATE GOVERNANCE AND DISCLOSURE IN INDIA DID NOT START BECAUSE OF ANY MAJOR FINANCIAL COLLAPSE. INITIAL DRIVE INDEED CAME AS A CONSEQUENCE OF LIBERALISATION AND GLOBALISATION OF THE ECONOMY AND THE ONSET OF INTERNATIONAL COMPETITION. NO DOUBT DEMANDS FOR BETTER NORMS ON CG WERE MADE FOLLOWING THE HARSHAD MEHTA SCAM, KETAN PARIKH SCAM, UTI SCAM, CR BHANSALI SCAM , VANISHING COMPANY SCAM , STAMP PAPER SCAM ETC. GOVERNMENT HAS REACTED STRONGLY BY PRESCRIBING MANY STRINGENT CG REQUIREMENTS BUT UNFORTUNATELY WE SEE A WIDE GAP BETWEEN PRESCRIPTION AND PRACTICE. GIVEN BELOW IS A LIST OF SOME OF THE ACTIONS THAT THE GOVERNMENT HAS ALREADY TAKEN 1. INCREASING VERY SUBSTANTIALLY THE POWERS AND FUNCTIONS OF SEBI INCLUDING RIGHT OF INSPECTION OF BOOKS AND RECORDS OF ANY LISTED COMPANY , POWER TO SUSPEND TRADING OF ANY SECURITY,POWER TO RESTRAIN ANY PERSON FROM ACCESSING THE SECURITIES MARKET,POWER TO CARRY OUT INVESTIGATION INTO THE AFFAIRS OF ANY PERSON OR MARKET INTERMEDIARY, ENORMOUS INCREASE IN THE AMOUNT OF PENALTY(MAX. PENALTY CAN NOW BE RS. 25 CRORES OR THREE TIMES THE PROFIT MADE ON SECURITIES TRANSACTIONS) ETC. SEBI HAS ALSO PRESCRIBED MANY REGULATIONS ON DISCLOSURE TAKEOVER, CODE OF CONDUCT ETC. 2. AMENDING THE COMPANIES ACT TO PROVIDE FOR ISSUES LIKE DIRECTORS RESPONSIBILITY STATEMENT, ADHERENCE TO ACCOUNTING STANDARDS, SETTING UP OF NATIONAL ADVISORY COMMITTEE ON ACCOUNTING STANDARDS, DIRECTORS DISQUALIFICATION UNDER CERTAIN CIRCUMSTANCES, MANDATORY REQUIREMENT OF AUDIT COMMITTEE FOR PUBLIC COMPANIES WITH PAID UP CAPITAL OF RS. 5 CRORES OR MORE, PASSING OF CERTAIN RESOLUTIONS ONLY THROUGH POSTAL BALLOTS ETC. 3. INCREASING THE SITTING FEES OF NON EXECUTIVE DIRECTORS 4. SETTING UP OF NARESH CHANDRA COMMITTEE TO ANALYSE AND RECOMMEND CHANGES RELATING TO ISSUES LIKE AUDITOR-COMPANY RELATIONSHIP, ROTATION OF AUDITORS,RESTRICTION ON NON-AUDIT SERVICES, INDEPENDENCE OF AUDIT FUNCTION, ROLE OF INDEPENDENT DIRECTORS, CERTIFICATION OF ACCOUNTS BY CEO/CFO, SETTING UP OF AN INDEPENDENT REGULATOR LIKE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD ETC. 5. SETTING UP OF KUMARMANGALAM BIRLA COMMITTEE BASED ON WHICH CG NORMS WERE INTRODUCED IN THE LISTING AGREEMENT 6. SETTING UP OF IRANI COMMITTEE FOR RECOMMENDING A THOROUGH REVIEW OF THE COMPANIES ACT 1956 7. SETTING UP OF MURTHY COMMITTEE TO REVIEW THE EXISTING CLAUSE 49 OF LISTING AGREEMENT AND SUGGEST CHANGES 8. DISCLOSURE THROUGH WEBSITE THE QUARTERLY FINANCIAL RESULTS, CORPORATE GOVERNANCE REPORT, SHAREHOLDING PATTERN, ANNUAL REPORT, ANY PRESENTATION TO ANALYSTS ETC. 9. SETTING UP OF A COMMITTEE TO RECOMMEND CHANGES IN SCHEDULE VI TO THE COMPANIES ACT,1956 ON FORM AND CONTENT OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT 10. INTRODUCTION OF THE COMPANIES(AUDITORS REPORT) ORDER 2003 IN SUPERSESSION OF MAOCARO CARO REQUIRES THE AUDITOR TO MAKE VERY SPECIFIC COMMENTS IN THEIR REPORT ON ISSUES LIKE WHETHER FUNDS RAISED FOR SHORT TERM PURPOSES WERE USED FOR LONG TERM USE AND VICE VERSA,FAILURE TO MEET OBLIGATIONS UNDER LOAN AGREEMENT, FRAUD, WHETHER GUARANTEES GIVEN FOR BORROWINGS OF OTHER COMPANIES IS PREJUDICIAL TO THE INTEREST OF THE COMPANY ETC. 11. INTRODUCTION OF BENAMI TRANSACTIONS PROHIBITION ACT, PREVENTION OF MONEY LAUNDERING ACT ,TIGHTER REGULATIONS ON INSIDER TRADING AND REPEALING OF SICK INDUSTRIAL COMPANIES ACT. HISTORY WILL SHOW THAT SICA WAS USED BY UNSCRUPULOUS MANAGEMENT TO THEIR BENEFITINDUSTRIES BECOME SICK BUT INDUSTRIALISTS DO NOT BECOME SICK 12. RESERVE BANK OF INDIA HAS ALSO ISSUED GUIDELINES ON CORPORATE GOVERNANCE THAT THE BANKS ARE REQUIRED TO FOLLOW. SIMULTANEOUSLY APPLICATION OF ACCOUNTING STANDARDS , PRUDENTIAL NORMS ON INCOME RECOGNITION AND PROVISIONING , CAPITAL ADEQUACY NORM, NORM ON NPA ETC HAVE ALSO BEEN PRESCRIBED. 13. DECISION TO SET UP SERIOUS FRAUDS INVESTIGATION OFFICE UNDER DCA. 14. SETTING UP OF NATIONAL FOUNDATION ON CORPORATE GOVERNANCE GOING FORWARD WE EXPECT THAT THE GOVT. WILL SOON PROPOSE MAJOR AMENDMENTS TO THE COMPANIES ACT BASED ON REPORTS OF NARESH CHANDRA COMMITTEE , JPC ON SECURITIES SCAM AIMED AT INCORPORATING PROVISIONS RELATING TO INDEPENDENCE OF AUDITORS AND CORPORATE GOVERNANCE AND IRANI COMMITTEE ON COMPANIES ACT CLAUSE 49 IS ALSO LIKELY TO BE FURTHER MODIFIED SO THAT THERE IS GREATER DISCLOSURES, EASIER AVAILABILITY OF UPTODATE INFORMATION, SUBMISSION OF MUCH WIDER INFORMATION TO THE BOARD WHAT DO WE SEE IN REAL LIFE IT IS HOWEVER DIFFICULT TO COMMENT WHETHER ANY SIGNIFICANT CHANGE IN THE MANNER IN WHICH BOARDS FUNCTION HAS ALSO TAKEN PLACE. WE HAVE HOWEVER COMPANIES WHO VOLUNTARILY BENCHMARK THEIR CG PRACTICES WITH INTERNATIONAL BEST PRACTICES. THE ANNUAL REPORT OF A LEADING IT COMPANY NOT ONLY SPECIFIES COMPLIANCE WITH THE CG NORMS APPLICABLE TO AN INDIAN LISTED COMPANY BUT CONFIRMS COMPLIANCE WITH THE UN GLOBAL COMPACT PROGRAMME . IT ALSO PROVIDES SEPARATE CG REPORT FOR SIX MAJOR GEOGRAPHIES WHERE IT HAS BUSINESS INTERESTS. BUT SUCH COMPANIES ARE VERY FEW IN NUMBER. IN MY VIEW THE MOST IMPORTANT ISSUE ON GOVERNANCE IS A CHANGE OF MINDSET AND ATTITUDE. DO WE EXAMINE EVERY MAJOR DECISION FROM THE GOVERNANCE POINT OF VIEW ? EXCELLENCE IN CORPORATE GOVERNANCE CANNOT BE EXPECTED TO BE ACHIEVED OVERNIGHT AS THE PREREQUISITE IS CHANGE OF MINDSET AND ORGANISATION CULTURE BOTH OF WHICH TAKES TIME. WITHOUT THAT CG COMPLIANCE WILL REMAIN A BOX TICKING EXERCISE. WE ARE ALREADY AHEAD OF MANY OTHER COUNTRIES IN SO FAR AS REGULATIONS ON CG ARE CONCERNED. I HAVE NO DOUBT THAT IN THE COURSE OF NEXT FEW YEARS OUR STANDARD OF CORPORATE GOVERNANCE WILL IMPROVE AND HOPEFULLY IMPROVE SIGNIFICANTLY. HAVE WE CHANGED ENOUGH ON CG IN OUR COUNTRY THERE ARE COMPANIES WHERE THE CG PRACTICES GO WELL BEYOND THE REQUIREMENTS OF LISTING AGREEMENT. SOME COMPANIES VOLUNTARILY BENCHMARK THEIR STANDARD OF CG PRACTICES WITH INTERNATIONAL BEST PRACTICES. WE HAVE ONE OF THE MOST ROBUST CG NORMS FAR BETTER THAN MOST OTHER COUNTRIES. BUT IF REGULATORY REQUIREMENTS OR LEGAL PROVISIONS ALONE COULD BRING ABOUT THE DESIRED CHANGE INDIA WOULD HAVE BEEN FAR AHEAD OF OTHER COUNTRIES AS WE ARE ONE OF THE MOST LEGISLATED COUNTRY IN THE WORLD. SIMULTANEOUSLY WE ALSO FIND THAT ACCORDING TO A STUDY OF TRANSPARENCY INTERNATIONAL INDIA’S RANKING IN CORRUPTION INDEX IS NOT SHOWING SIGNS OF ANY MAJOR IMPROVEMENT. INDIA’S RANKING ON CORRUPTION INDEX UNFORTUNATELY CONTINUES TO REMAIN VERY POOR THIS MAY HAVE LOT TO DO WITH OUR PUBLIC GOVERNANCE SYSTEM WHICH IF NOT ANYTHING IS WEAK. WE HAVE VERY LARGE NUMBER OF VANISHING COMPANIES WHO ARE NOT TRACEABLE AFTER RAISING LARGE SUMS OF MONIES THROUGH PUBLIC OFFERINGS. OUR COMMERCIAL BANKS STILL CARRY VERY LARGE AMOUNT OF WHAT IS KNOWN AS NON-PERFORMING ASSETS. WE DO NOT SEEM TO HAVE AN EFFECTIVE SYSTEM OF IMPLEMENTATION OF THE REGULATIONS. UNLESS CORRUPT PRACTICES ARE EFFECTIVELY PUNISHED THERE WILL NOT BE PROPER ENCOURAGEMENT OF GOOD CORPORATE BEHAVIOUR. I BELIEVE THAT IN OUR COUNTRY FEAR OF PUNISHMENT ACTS WELL TOWARDS BETTER COMPLIANCE. IF NO ATTEMPT IS MADE TO DETECT THE VIOLATORS AND EVEN IF DETECTED THEY CAN GET AWAY REGULATIONS ON CG WILL REMAIN IN STATUTE BOOKS ONLY. ANOTHER ASPECT WHICH COULD WORK WELL IS PEER PRESSURE AMONG THE DIRECTORS. SHOULD CEOS BE EVER ALLOWED TO TAKE THE BOARD FOR GRANTED WHICH HAPPENS WHEN THERE IS INADEQUATE PARTICIPATION OR PRESSURE FROM OTHER BOARD MEMBERS PERHAPS MORE SO WHEN THE BOTTOM LINE IS SATISFACTORY ! OURS IS INDEED AN AMAZING COUNTRY ON THE ONE HAND WE HAVE PEOPLE LIKE LATE SATYENDRA DUBEY WHO LAID DOWN HIS LIFE TO PREVENT CORRUPTION ON THE OTHER HAND WE SEE INNOVATIVE SCAMSTARS WHO IDENTIFY FAULTS AND LOOPHOLES IN THE SYSTEMS AND TAKE ADVANTAGE OF THE SAME. BY THE TIME THE AUTHORITIES PLUG THE LOOPHOLES MANY SMALL AND UNSUSPECTING INVESTORS’ HARD EARNED MONEY WOULD HAVE VANISHED. AS MENTIONED EARLIER WE DO NOT HAVE ANY DEARTH OF REGULATIONS BUT PERHAPS WE LACK IN IMPLEMENTATION. ONCE THE AUTHORITIES START FOCUSSING ON IMPLEMENTATION ONE CAN EXPECT MAJOR CHANGES. VERY RECENTLY SEBI CHAIRMAN HAS OBSERVED THAT WE DO NOT NEED PEOPLE JUST TO GRACE THE BOARD – WE NEED TO SEE HOW THEY ADD VALUE TO THE BOARD. DOES FILMSTARS OR CRICKETERS ON THE BOARD ADD VALUE ? IN ALL THESE REPORTS OF VARIOUS COMMITTEES IT APPEARS THAT A KEY ISSUE HAS NOT BEEN DISCUSSED. NOWHERE ONE FINDS A DISCUSSION ON HOW A PERSON COMES TO HOLD THE POSITION OF A NONEXECUTIVE DIRECTOR OF A COMPANY. IN THE CONTEXT OF OUR COUNTRY WHERE THE POSITION OF A NONEXECUTIVE DIRECTOR IS CONSIDERED MORE AS A STATUS SYMBOL THAN A POSITION OF RESPONSIBILITY, I BELIEVE THAT A PERSON JOINS THE BOARD OF A COMPANY AS A NON-EXECUTIVE DIRECTOR UNDER ONE OR MORE OF THE FOLLOWING CIRCUMSTANCES: I)THE PERSON IS A FRIEND OF THE CHAIRMAN OR THE CEO; II)THE PERSON IS KNOWN TO THE CHAIRMAN/CEO THROUGH SOCIAL CIRCUIT OR OLD SCHOOL/COLLEGE CONNECTION OR GOLF OR OTHER CLUBS; INDEPENDENCE OF DIRECORS SEVERAL HIGH POWERED COMMITTEES HAVE CONSIDERED THIS ISSUE THOROUGHLY AND HAVE REPORTED ON IDs III)THE PERSON IS A PARTNER/SENIOR EXECUTIVE OF AN AUDIT/LEGAL OR CONSULTANCY FIRM WHICH PROVIDES AUDITING/LEGAL/CONSULTANCY SERVICES TO OTHER COMPANIES IN THE SAME GROUP ; IV)THE PERSON IS A RETIRED SENIOR GOVERNMENT OR PUBLIC SECTOR OFFICIAL AND HAD OCCASIONS TO INTERACT WITH THE CHAIRMAN/CEO DURING HIS/HER SERVICE PERIOD V)THE PERSON HAS BEEN RECOMMENDED BY ANOTHER FRIENDLY BUSINESS GROUP WHERE HE IS ALREADY A NONEXECUTIVE DIRECTOR VI)THE PERSON HAD EARLIER SERVED ON THE BOARD OF THE COMPANY AS A NOMINEE DIRECTOR AND HAD EARNED THE TRUST AND RESPECT OF THE CHAIRMAN/CEO DURING THAT PERIOD WHICH PROMPTED THE CHAIRMAN/CEO TO INVITE HIM TO JOIN THE BOARD POST HIS STINT AS NOMINEE DIRECTOR ; VII)THE PERSON IS A RETIRED SENIOR EXECUTIVE OF ANOTHER COMPANY IN THE SAME GROUP; VIII)THE PERSON IS AN ACADEMICIAN WHO HAD CONDUCTED SEMINARS AND CONFERENCES IN THE ORGANIZATION AND HAD CLOSELY INTERACTED WITH THE CEO ON MANY EARLIER OCCASIONS IX)THE PERSON POSSESSES TECHNICAL SKILLS/EXPERTISE ESSENTIAL FOR COMPANY’S BUSINESS AND THE COMPANY FREQUENTLY SEEKS HIS/HER ADVICE. WHILE THERE CAN ALWAYS BE SEVERAL OTHER REASONS FOR INDUCTING A PERSON ON THE BOARD OF A COMPANY, IN MY VIEW, TWO BASIC ISSUES ALWAYS APPEAR TO STANDOUT IN SELECTION OF A NON-EXECUTIVE DIRECTOR. THESE ARE THE PERSON MUST BE REASONABLY WELL-KNOWN TO THE CHAIRMAN/CEO AND/OR A PERSON OF REASONABLE EMINENCE; AND THE PERSON MUST, IN THE OPINION OF THE CHAIRMAN/CEO, BE TRUSTWORTHY. PRIOR RELATIONSHIP WITH CHAIRMAN/CEO IS NECESSARY TO BE INVITED TO JOIN THE BOARD NEEDLESS TO SAY THAT A PERSON JOINS THE BOARD BY INVITATION ONLY(EXCEPT FOR NOMINEE DIRECTORS). INVITATION TO JOIN THE BOARD CAN ONLY BE SENT TO THOSE PERSONS WHO ARE KNOWN TO THE CHAIRMAN/CEO AND WHOM THEY CAN TRUST. INDUCTING A DIRECTOR ON THE BOARD COULD OFTEN BE FAR LESS DIFFICULT THAN MAKING A DIRECTOR QUIT HIS BOARD POSITION. HENCE IT IS ONLY NATURAL TO EXERCISE CAUTION WHILE SELECTING A PERSON TO JOIN THE BOARD. ONE CANNOT EXPECT THAT JUST BECAUSE A PERSON IS EMINENT IN HIS/HER FIELD HE/SHE WOULD BE APPROACHED BY LEADING COMPANIES WHO HITHERTO HAD NO CONTACT WITH HIM/HER TO JOIN THEIR BOARDS. ONLY A NOMINEE DIRECTOR COULD BE AN EXCEPTION TO SUCH RULE. SEBI CHAIRMAN HAS REPORTED TO HAVE COMMENTED RECENTLY THAT SOME PEOPLE GET ON COMPANY BOARDS AND BECOME PERMANENT ENTITIES-MORE PERMANENT THAN THE FURNITURE IN THE BOARD ROOM. THIS IS A FUNDAMENTAL QUESTION AND ONE MAY RECALL THAT MURTHY COMMITTEE HAD INITIALLY RECOMMENDED THAT INDEPENDENT DIRECTORS SHOULD NOT HAVE A TENURE EXCEEDING NINE YEARS ON THE BOARD OF A COMPANY. THIS RECOMMENDATION NOW FINDS PLACE AS A NON MANDATORY PROVISION OF CLAUSE 49. INDEED OUR REGULATIONS IN CONTRAST TO UK’s REQUIREMENT DO NOT REQUIRE THE BOARD TO JUSTIFY WHY A PERSON IS CONSIDERED INDEPENDENT DIRECTOR EVEN WHEN THAT PERSON IS DIRECTOR OF THE COMPANY FOR MANY YEARS –SOMETIMES MORE THAN A DECADE. IT IS INDEED A MOOT QUESTION WHETHER LENGTH OF DIRECTORSHIP AFFECTS ONE’s INDEPENDENCE. IF YOU ARE AN INDEPENDENT DIRECTOR PLEASE CONSIDER A) IF AGENDA PAPERS WERE NOT RECEIVED WELL IN ADVANCE FOR YOU TO STUDY THEM IN SUFFICIENT DETAILS SHOULD YOU REFUSE TO ATTEND MEETINGS ? SHOULD YOU ASK CHAIRMAN TO SET A RULE THAT PLACING OF AGENDA NOTES AT THE MEETING SHOULD BE AVOIDED TO THE EXTENT POSSIBLE ? B ) HAVE YOU FAMILIARISED YOURSELF WITH THE BUSINESS MODEL OF THE COMPANY? ARE YOU AWARE WHERE COMPANY’S PLANTS ARE LOCATED AND WHAT PRODUCTS DO THEY MANUFACTURE? DO YOU KNOW WHAT ARE THE SWOT OF THE COMPANY? C ) HAVE YOU ENSURED THAT CONCERNS RAISED BY YOU AT MEETINGS ARE RECORDED IN THE MINUTES? IF NOT DID YOU TAKE UP THE ISSUE WITH THE CHAIRMAN WHEN IT FIRST OCCURRED? D)ARE YOU UP TO DATE ON YOUR KNOWLEDGE AND SKILL WITH REGARD TO COMPANY’S CG PRACTICES E ) DO YOU COME TO THE MEETINGS AFTER CAREFULLY GOING THROUGH THE AGENDA PAPERS F) DO YOU HESITATE TO ASK UNCOMFORTABLE QUESTIONS AT MEETINGS AS THAT COULD BE CONSTRUED AS BAD MANNERS MORE SO WHEN THE BOTTOM LINE IS HEALTHY? G) DO YOU CONSIDER DIRECTORSHIP AS A POSITION OF TRUST AND RESPONSIBILITY RATHER THAN A STATUS SYMBOL ? H) ARE YOU AWARE ABOUT THE RESPONSIBILITIES AND LIABILITIES OF A DIRECTOR UNDER THE COMPANIES ACT ? ARE YOU PREPARED TO RESIGN IF THE CONCERNS RAISED BY YOU ARE NOT ADDRESSED BY THE COMPANY J) DO YOU DISCUSS ANY OF YOUR CONCERNS WITH COMPANY EXECUTIVES OR OTHER NEDs BEFORE THE MEETING ? K) IF YOU ARE AN ID FOR MANY YEARS DO YOU THINK YOUR APPROACH AND ATTITUDE HAS CHANGED SINCE CG NORMS WERE PRESCRIBED ? I ? ) ii) supports executives in their leadership of the business According to the suggested best practices under the UK code an effective non-executive director i) upholds the highest ethical standards of integrity and probity hile monitoring their conduct; iii) questions intelligently , debates constructively, challenges rigorously and decides dispassionately iv) listens sensitively to the views of others , inside and outside the board; V) gains the trust and respect of other boa rd members; vi) promotes the highest standards of corporate governance and seeks compliance with the Code wherever possible Some of the significant points in the UK code on Board balance and independence are 1. Chairman and CEO should not be the same person 2. A CEO should not go on to become Chairman of the same company 3. Board should state its reasons for determining independence of a director 4. Every director should receive induction on joining the Board and should regularly update his skill and knowledge 5. Board should undertake a formal and rigorous evaluation of its own performance and that of its committees and individual directors on an annual basis 6. Any term beyond six years for a non-executive director should be subject to rigorous review and should take into account need for progressive refreshing of the Board 7. Serving more than nine years could be relevant for determining independence of a non-executive director 8. All directors should have access to independent professional advice at the company’s expense where they judge it necessary to discharge their responsibilities as directors. 9. No individual or small group of individuals should dominate Board’s decision making process 10. Directors should ensure that the concerns raised by them are recorded in the minutes 11. Board should appoint one of the independent non-executive directors as Senior Independent Director under whose leadership annual performance evaluation of Chairman should take place and who can be directly approached by shareholders for resolving any concern IT WILL BE NOTED THAT OUR REQUIREMENTS ARE MUCH LESS RIGOROUS. IN THE INDIAN CONTEXT HOW CAN ONE ENSURE THAT THE BOARD REMAINS EFFECTIVE? MY HUMBLE SUBMISSION IS THAT IT IS TRAINING AND UPGRADATION OF KNOWLEDGE OF THESE DIRECTORS WHICH CAN HAVE A MAJOR IMPACT ON BOARD ROOM CULTURE. THE SEBI COMMITTEE UNDER THE CHAIRMANSHIP OF MR NARAYANA MURTHY HAD RECOMMENDED TRAINING OF THE DIRECTORS IN THE BUSINESS MODEL OF THE COMPANY AS WELL AS THE RISK PROFILE OF THE BUSINESS INCLUDING THE RESPONSIBILITIES OF DIRECTORS AND HOW BEST THEY CAN DISCHARGE THEM. SEBI CHAIRMAN HAS RECENTLY MENTIONED THAT A SEPARATE MEETING OF INDEPENDENT DIRECTORS PRIOR TO THE BOARD MEETING COULD BE HELD SO THAT THE IDs AMONG THEM CAN DISCUSS FREELY ANY ISSUE IF THIS BECOMES MANDATORY IT IS UNLIKELY THAT CORPORATES WOULD WELCOME IT EVEN SOME NON MANDATORY ISSUES OF CLAUSE 49 SUCH AS EVALUATION OF PERFORMANCE OF BOARD MEMBERS OR TRAINING OF DIRECTORS ARE VERY CONTENTIOUS ISSUES AND SHOULD SEBI DECIDE TO MAKE THE NON MANDATORY ISSUES OF CLAUSE 49 MANDATORY MANY CORPORATES MAY FIND DIFFICULT TO COMPLY – THIS IS NOT ENTIRELY UNLIKELY AS NEARLY TWO YEARS HAVE ALREADY PASSED SINCE THESE NON MANDATORY ISSUES WERE INCLUDED IN CLAUSE 49 NOT CONSIDERING THE LONG PERIOD OF OVER TWO YEARS THAT SEBI HAD ALLOWED FOR INDIAN CORPORATES TO DIGEST AND ABSORB THE RECOMMENDATIONS OF MURTHY COMMITTEE MINIMUM INFORMATION TO BE PLACED BEFORE BOARD 1. ANNUAL BUDGETS AND ANY UPDATES 2. CAPITAL BUDGETS AND ANY UPDATES 3. QUARTERLY RESULTS FOR THE COMPANY AND ITS OPERATING DIVISIONS OR BUSINESS SEGMENTS 4. MINUTES OF AUDIT AND OTHER COMMITTEE MEETINGS 5. RECRUITMENT/REMUNERATION OF SENIOR OFFICERS JUST BELOW THE BOARD LEVEL INCLUDING APPTMT OR REMOVAL OF CFO AND CS 6. MATERIAL SHOW CAUSE/DEMAND/PROSECUTION NOTICES 7. FATAL/SERIOUS ACCIDENTS,MATERIAL EFFLUENT OR POLLUTION PROBLEMS 8. MATERIAL DEFAULT IN FINANCIAL OBLIGATIONS TO AND BY THE COMPANY OR SUBSTANTIAL NONPAYMENT FOR GOODS SOLD BY THE COMPANY 9. PUBLIC OR PRODUCT LIABILITY CLAIMS OF SUBSTANTIAL NATURE INCLUDING ANY JUDGEMENT OR ORDER WHICH MAY HAVE PASSED STRICTURES ON THE CONDUCT OF THE COMPANY OR TAKEN AN ADVERSE VIEW REGARDING ANOTHER ENTERPRISE THAT CAN HAVE NEGATIVE IMPLICATIONS ON THE COMPANY 10. JOINT VENTURES AND COLLABORATION AGREEMENT 11. TRANSACTIONS INVOLVING SUBSTANTIAL PAYMENT TOWARDS GOODWILL, BRAND EQUITY,OR INTELLECTUAL PROPERTY. 12. SALE OF A MATERIAL NATURE OF INVESTMENTS, SUBSIDIARIES, ASSETS WHICH ARE NOT IN THE NORMAL COURSE OF BUSINESS 13. SIGNIFICANT LABOUR PROBLEMS AND POSSIBLE SOLUTIONS. SIGNIFICANT DEVELOPMENTS IN HR/IR FRONT INCLUDING ANY WAGE AGREEMENT, VRS ETC. 14. QUARTERLY DETAILS OF FOREIGN EXCHANGE EXPOSURES AND STEPS TAKEN TO LIMIT RISKS OF ADVERSE EXCHANGE RATE MOVEMENT 15. NON COMPLIANCE OF ANY REGULATORY OR STATUTORY OBLIGATION OR LISTING REQUIREMENTS AND SHAREHOLDER SERVICE CEO/CFO CERTIFICATIONCERTIFY TO THE BOARD THAT- They have reviewed financial statements and cash flow statement for the year and to the best of his knowledge and belief – i) These statements do not contain any material untrue statement or omit any material fact or contain statements that might be misleading ii) These statements together present a true and fair view of the company’s affairs and are in compliance with This is a new requirement brought in by SEBI through amendment of Listing agreement and follows what SOX Act requires. By certifying to the Board in the manner prescribed the CEO and CFO are indeed shouldering responsibility about financial statements, internal control system and its effectiveness, accounting policy etc. While this certificate is a very big comfort for the Board for submitting Directors Responsibility Statement to the shareholders as required under the Companies Act it is no doubt necessary for the CEO and CFO to take a number of steps before they can issue such wide certificate to the Board Existing accounting standards, applicable laws regulations; iii) There are no transaction entered into by the company during the year which are fraudulent, illegal or violative of the company’s code of conduct; iv) They accept responsibility for establishing and maintaining internal control systems of the company and they have disclosed to the auditors and audit committee deficiencies in the design or operation of internal controls ,if any, of which they are aware and Some of these steps are Reviewing the internal control system in all parts of the company to identify deficiencies, if any; Periodical review of accounting policies in the light of accounting standards; Continuous updation of knowledge of accounting standards Obtaining back-up certificates from heads of Units/Departments on the same line as the certificate to the Board- this is particularly important for item (iii) and The steps they have taken or propose to take to rectify these deficiencies; v) They have indicated to the auditors and the Audit committee – Significant changes in internal control during the year Significant changes in accounting policies during the year and that the same has been disclosed in the notes to financial statements Instances of significant fraud of which they have become aware and the involvement Item (v) relating to fraud etc. Periodical review of internal control system of the company by an external expert for reassurance Taking actions on instances of lapses in internal controls, fraud, unethical or illegal actions of any employee –exemplary punishment in these matters could inculcate better compliance environment in the organisation reducing chances of fraud etc Therein ,if any, of the management or an employee having a significant role in the company’s internal control system. Regulations do not require bringing to the attention of the Board introduction of new accounting standards and its implications to the company. When financial statements are certified by a CEO he/she should have broad knowledge about how these statements are prepared and what are the main requirements of applicable accounting standards. It is hoped that this certification will enforce greater financial discipline in corporates. POINTS FOR CONSIDERATION OF CEOs BEFORE GIVING THE CERTIFICATE TO THE BOARD HAVE YOU GONE THROUGH THE FINANCIAL RESULTS IN SUFFICIENT DETAILS WITH THE CFO AND THE AUDITOR AND SATISFIED YOURSELF ABOUT ITS CORRECTNESS? DO YOU BELIEVE THAT PROFIT IS A DERIVED FIGURE BEING THE AMOUNT ARRIVED AT BY DEDUCTING COSTS FROM REVENUES OR YOU DECIDE ABOUT THE PROFIT FIGURE FIRST AND FIT IN REVENUES AND EXPENSES KEEPING THE DESIRED PROFIT UNCHANGED-HOW OFTEN DO YOU ASK YOUR CFO –’HOW MUCH PROFIT SHOULD WE SHOW’ HAVE YOU TRIED TO UNDERSTAND THE IMPLICATIONS OF ACCOUNTING STANDARDS ON YOUR COMPANY’S FINANCIAL STATEMENTS? HAVE YOU CAREFULLY NOTED THE COMMENTS OF AUDIT COMMITTEE ON THE FINANCIAL STATEMENTS AND ENSURED THAT APPROPRIATE CHANGES, IF ANY, HAVE BEEN MADE IN THE FINANCIAL STATEMENTS HAVE YOU DISCUSSED WITH THE STATUTORY AUDITORS SEPARATELY WITHOUT THE PRESENCE OF YOUR CFO ABOUT THE ANNUAL FINANCIAL STATEMENTS AND OBTAINED THEIR INDEPENDENT VIEWS ON THE FINANCIAL STATEMENTS HAVE YOU PERIODICALLY REVIEWED THE EFFECTIVENESS OF INTERNAL CONTROL SYSTEM IN THE ORGANISATION AND HAVE TAKEN STEPS TO REMOVE ANY DEFICIENCY THAT MIGHT HAVE BEEN POINTED OUT? DO YOU MAKE YOUR OWN ESTIMATE OF PROFIT BASED ON REVENUES EARNED AND TRY TO RECONCILE ANY

The Spanish Conquest Essay Example

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Rather, a question gives way to an investigation equipped with a determined process of translation, and in fact literature itself, to ultimately reach the deductible answer of how the apparent style and meaning influence the reader’s understanding of the text; a product of the translator as much, if not more so, than the original text. That this aim might be achieved requires identifying certain driving purposes attributed to the texts as being birthed by the particular intentions of the translators. Translation comprises a difficult task. In her book Why Translation Matters, Edith Grossman lists these difficulties on behalf of translators in general, â€Å"Our purpose is to re-create as far as possible, within the alien system of a second language, all the characteristics, vagaries, quirks, and stylistic peculiarities of the work we are translating† (Grossman 2010). Such an endeavor complicates given the intricacy of working merely in a single language, let alone taking it a step further to transform them for not only compatibility but functionality in another. Reading literature in but one language represents an entire process in and of itself. Essentially originating with the thoughts of one (probably in part inspired by those before it, though undoubtedly motivated by whatever it is about the human spirit that demands of itself to share aspects of itself ), these thoughts fall through the sieve of language further until wrought into the written word. However, after having passed into language and especially into literature, by comparison somewhat sterilized to its spoken originator, these thoughts takes on a form of potential meaning of their own. In this conveyed form, although partially isolated from the originator, the opportunity for its grand purpose of reaching another human being for interpretation and extracted importance realizes. 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In order to achieve this, Grossman goes on to say, â€Å"We do this by analogy—that is, by finding comparable, not identical, characteristics in the second language† (Grossman, 2010). Joe Sachs, in the introduction to his translation of Aristotle’s Nichomachean Ethics, echoes Grossman, asserting â€Å"If one regards the virtue of a translation as smoothness, and its greatest fault as awkwardness, then all writing †¦ must be lost in translation, reduced to those ordinary choices of words that fit without a hitch into the thinking we have already done† (Sachs VIII). Sachs goes on to provide an excellent example of these necessary analogies, and possible irregularity associated with them, by linking the true definition of the Greek work â€Å"energia,† fundamental to Aristotle’s philosophy, not simply and smoothly with â€Å"activity† unless contextually â€Å"its special and emphatic meaning is established for the reader† (Sachs VIII). Rather the central idea of â€Å"being at work† approaches â€Å"energia,† both in the sense of a â€Å"being† as an entity and â€Å"being† as an action or inherent condition of that entity (Sachs VIII). In the face of such a daunting task, in fact one technically impossible in entirety, a translator invariably infuses personal interest into the resultant work. Admitting to the notion of personal infusion, Grossman states, â€Å"The undeniable reality is that the work becomes the translator’s (while simultaneously and mysteriously somehow remaining the work of the original author) as we transmute it into a second language† (Grossman, 2010). Rachel Galvin also attests to this notion in her essay â€Å"Looting† as she cites Horaldo De Campos utilizing the reminiscent verb regarding Carson’s text a â€Å"transcreation   a critical reading and transformation or re-creation of the original† ( Galvin, 2013). As it pertains to Anne Carson’s Antigo nick and Robert Fagles’ Antigone, differences in overall style and meaning are evident in almost every aspect aside from a few necessary commonalities that still unite them as English translations of Sophocles’ Antigone. Either story contains the necessary background and the ensuing problem and plot of Antigone’s rebellion against Creon for the sake of her disgraced dead brother, leading to her internment and suicide. To be sure, to translate they must, and do anyway, habitually, as Joe Sachs in his introduction to his translation of Aristotle’s Nicomachean Ethics, â€Å"bypass the accumulated baggage of a tradition that cannot accomplish that task† (Sachs VII). This accumulated baggage may be anything detracting from their determined necessary subject of transference. First and foremost among matching efforts directed toward this end entail both being direct Greek to English translations. To do so avoids any further diluting or complicating of the resultant text, and perhaps more importantly side steps historically influencing thought inherent in, for example, a Greek to Latin to English translation. Written in comparably straightforward dialogue, the translations also shake off â€Å"baggage† in their more direct and thereby relatable language. Though sometimes similar, the two seem to never actually match, such as when Antigone speaks to her sister about their mutual uncertainty to the future as to why she has summoned her to the gate, Fagles’ translation stating, â€Å"I thought so, that’s why I brought you out here† (60). And Carson’s translation similarly stating, â€Å"That’s what I thought that’s why I called you out here† (1). Yet outside ordinary necessities either translator’s take on the tragedy differs on most of the other major points. If they generate from the same story, how is it possible to have such essential variation between the translations? Plainly, Carson and Fagles, being two different human beings, inevitably interpreted the play differently. The translations principally diverge in the literal replication of his and her individual interpretations, and further how these interpretations perceptibly dominate the translations. These differing strengths produce different styles and highlight differing meanings of the texts as congruent with the intentions for the works. The overall style of each text takes the predominant role of establishing the standard of â€Å"displaying reverence for a beloved text,† but also â€Å"tak[ing] ownership of it† (Galvin, 2013). This desire most strongly permeates the reader’s attention by the very style in which either translation is written and presented on the page. Carson’s text is handwritten, in all capital letters, and of either black or red ink (red ink denoting extra emphasis). Furthermore, the writing itself emphasizes the artistic value as choppy yet punctually important. Fagles’ holds fast to what is normally expected of a book and simply appears as type of paper, separating characters’ dialogue in neat organization, all the while in iambic pentameter. This translation prefers a more verbally aesthetic approach, and by comparison to Antigo nick appreciates more of a prolonged beauty. The evidence of Fagles’ translation as adhering to a more traditional approach regarding translation, in addition to storytelling in general, attempting to deal accurately with the original text bleeds through with the simplicity and smoothness, yet elegance of his language; such as the dialogue of Haemon trying to convince his father to bend: You’ve seen trees by a raging winter torrent, how many sway with the flood and salvage every twig, but not the stubborn – they’re ripped out, roots and all. Bend or break. The same when a main is sailing: haul your sheets too taut, never give an inch, you’ll capsize †¦ Oh give way, relax your anger (96). Whereas Carson’s version instead attempts to break new ground in the field of translation. The very same instance in Carson’s version instead recounts riding a bicycle and condenses the assumed original into, â€Å"Trees bend ships loosen the rigging no single human being has perfect knowledge† (26). Both translators are attempting to â€Å"recast the language in a new age,† but Carson’s intention aligns more so than Fagles with the â€Å"goal of rendering these works in [her] own idioms† (Galvin, 2010). Take for example the first page of Antigo nick, as Antigone speaks to Ismene she says: We begin in the dark and birth is the death of us Ismene: Who said that Antigone: Hegel Ismene: sounds more like Beckett Antigone: He was paraphrasing Hegel (1). Fagles has no equivalent to this. Including these thoughts and thinkers, moreover, seems intuitively counteractive to good translating, considering Sophocles’ tragedy existed thousands of years before these thinkers. But preeminently establishing this precedent identifies the very purpose of Carson’s translation: to make something relatable to the individual human and historically meaningful human thought. The emphasis of death and darkness as timelessly uniting factors takes precedence over the development and presentation of the tragedy of specifically Antigone. Most notable, and indeed basic amongst the intentions of Carson blatantly occupies the front cover: simply the title Antigo Nick, beginning with Antigone but ending as Carson dictates it, with the name Nick (an added character and subject of fatalistic time in and of himself) not only portends another discrepancy, but lessens the weight of Antigone herself. Furthermore, Antigo nick more adequately presents itself as a vehicle characterized by and celebratory of these meaningful connections, exemplified by Carson’s handwritten text as it artistically dances amid illustrator Bianca Stone’s cryptic imagery. Though the images impart an account of their own, â€Å"the rhythm between text and images is often surprising and their relationship mysterious† (Galvin, 2013). These images often speak to the desired immensity of Carson’s translation, complementing the text rather than the story with enormous â€Å"dreamscapes. † Conversely, Fagles’ translation dwells on the specificity of this story; the utmost evidence being the long introduction of historical and cultural context. In doing so Fagles makes his translation able to understandably stand alone with inclusive significance. For example, with the provided historical and cultural lens, the meaning of Antigone’s rebellion amplifies by its subversion of these historical and cultural factors, namely her being a woman as well as the daughter of Oedipus, etc. Her rebellion in Antigo nick does not in specific mean anything, rather rebellion against authority in general means something. Moreover generalized, passionate rebellion once again proves more relatable to the universal human as well as holistic history. Carson intentionally requires both modern and prior knowledge to both know the story and understand its allusions, such as â€Å"here comes Kreon rowing his powerboat† (5). Or: Your Clumsy Its TrueClumsy as your FatherRemember how Brecht Had you do the whole play with a door strapped To your back (35). The reader is left at the mercy of this language and its allusions and inherent emphases, all of which are completely based in the interpretation of meaning by Carson as she, although creating new meanings, embraces an avant-garde tradition. The reader is dependent on former knowledge to understand the text, and is thereby led to different connections personal to Carson, though alien to Fagles’ translation. Originating from the same story, the reader acquaints with differing constructions of importance. The themes of Sophocles’ play are themselves altered by the translated language in alignment with Fagles and Carson’s intentions for their translations. The translators differing purposes for what their texts are attempting to accomplish cultivate a differing sense most notably of tragedy. When presented with the actual Greek, Fagles presumably understood it going in through the lens of a classical Grecian tragedy, and consistently depicted it as such. Therefore, characters carry themselves and are motivated heroically with artfulness; in other words not very relatable. Carson’s stressed theme strays away from the emphasized sense of tragedy, and instead, through the strong and often piecemeal dialogue emphasizes the less glorious reality of blunt death overlooked in usual tragedy. Characters therefore come across as impulsive and somewhat unaware: relatable. These differences are evident from the beginning of the play, as Carson’s Antigone relates to Ismene regarding their dead brother, â€Å"Dear sister my dead are mine and yours as well† (2). Fagles’ translation more nobly depicts the body as brother, saying instead â€Å"he is my brother – and deny it as you will – your brother too† (61). This notion goes on to be further reinforced as Ismene attempts to share in hers sister’s fate, as in the Fagles version, â€Å"I did it, yes – if only she consents – I share the guilt, the consequences too,† while Antigone responds, â€Å"No, Justice will never suffer that – not you, you were unwilling. I never brought you in† (87). Yet Ismene in the equivalent line of Antigo nick states, â€Å"I did the deed I share the blame Antigone: You did nothing you shared nothing leave my death alone† (18-19). Fagles’s smooth language and invocation of justice and guilt dignifies both parties, while Carson’s fast and choppy language: blame, nothing, and death diminish graciousness. Furthermore, this wanting of an inglorious death undermines the sense of tragedy in that portraying it in such a fashion weakens purposefulness, or the ‘beauty / art’ of it. The massive tragic  void in Antigo nick compared to Antigone illustrates most profoundly in the suicidal end, as Fagles’s messenger describes: And there we found her hanged by the neck in a fine linen noose, strangled in her veils – and the boy, his arms flung around her waist, clinging to her †¦ and then doomed and desperate with himself, suddenly leaning his full weight on the blade, he buried it in his body, haldway to the hilt. And still in his senses, pouring his arms around her, he embraced the girl, realeased a quick rush of blood bright red on her cheek glistening white. And there he lies body enfolding body (122-123). Antigo nick, true to form, forbears from such a tragically moving finale, with the messenger instead explaining the scene â€Å"The girl hanging the boy a bloody lung †¦ the sword sinking up to its own mouth† (34). A greater distinction cannot be made, concerning the language of tragedy, as recounting something as an enfolding crimson kiss vs. a â€Å"bloody lung. † Fagles’ melodrama and Carson’s understatement engineer discrepant intensities of admirability for their characters: in their beliefs, actions, and ends. The management and development of tragedy or considerable lack thereof, via these characters, aligns with the intentions of the translators to relate not only their interpretation of the initial text, but also their intentions in translating it true to their forms. Discrepancies among translations come from discrepancies among translators. The differing versions of style and tragedy ultimately adhere to the grand intention of either translator for either translation. Galvin quotes Osip Mandelstam, when speaking of Dante, though she believes the statement to be â€Å"equally rue of Sophocles,† as saying, â€Å"It is inconceivable to read [these texts] without directing them towards contemporaneity. They were created for that purpose. They are missiles for capturing the future. They demand commentary in the futurum. † (Galvin, 2013). Both Antigone and Antigo Nick achieve this end. Fagles’s succeeds in producing an understandable and straightforward look at the original play. Fagles importantly also succeeds in manufacturing a stand alone, most probably accurate version of Sophocles’ original Antigone, customarily emphasizing tragedy. Carson succeeds in bringing a new, futuristic, or rather modern spin to an old story. Her fabrication of a relatable piece, both in terms of relevance to the lay man as well as its self-proclaimed correspondence to historical thought and an avant-garde tradition, reserve it its place in this necessary ongoing â€Å"commentary. † Creative literature and translation by means of personal infusion enriches language with diverse meaning, because, â€Å"The more a language embraces infusions and transfusions of new elements and foreign turns of phrase, the larger, more forceful, and more flexible it becomes as an expressive medium† (Grossman). The preservation of art as well as the exemplification of translational truths unite both texts just as their mutual origins in the Greek of Sophocles do. The crucial conclusion regarding the derivation and understanding of meaning among these two translations, and translation as well as literature overall, depends upon the author’s (or translator’s) literal adaptation of his or her interpretations arousing an analogous notion in the reader. It constitutes a personal process reliant upon the ability to transmit specific significance through style and emphasized meanings. Or simply: the reader is never free from the author (perhaps gladly so). Works Cited  Aristotle. Nichomachean Ethics. Trans. Sachs, Joe. Newburyport, MA: Focus Publishing, 2002. Print. Galvin, Rachel. Looting. Boston Review. Boston Review, 1 Mar 2013. Web. 12 Nov 2013. . Grossman, Edith. From Why Translation Matters. Why Translation Matters Yale University Press. (2010): n. pag. Words Without Borders. Web. 12 Nov 2013. . Sophocles. Antigone. Trans. Carson, Anne. New York: New Directions, 2012. Print. Sophocles. Antigone. Trans. Robert Fagles. New York: Penguin Group, 1984. Print.