The Merger of Ranbaxy and Daiichi

A REPORT ON Ranbaxy-Daiichi Deal 1/26/2012 Ranbaxy-Daiichi Deal Introduction: Daiichi Sankyo bought Ranbaxy for $4. 6 billion in June 2008. This report studies the implications of the merger between Ranbaxy and Daiichi Sankyo, from an intellectual property as well as a market point of view. There are many critical events happening in international pharma market including the growing preference for generics, increasing dominance of emerging markets such as India, fast approaching patent expiry etc. Also, this deal involves 2 major players who are the largest among their respective markets. Background: Daiichi Sankyo Co. Ltd. acquired 34. 8% of Ranbaxy Laboratories Ltd. from its promoters and increased its stake through preferential allotment, public offer and preferential issue of warrants to acquire a majority in Ranbaxy, i. e. at least 50. 1%. After the acquisition, Ranbaxy operates as Daiichi Sankyo’s subsidiary but supposed to manage independently under the leadership of its current CEO & Managing Director Malvinder Singh. Mr. Singh left the company in 2009 with a 4. 5 billion rupees severance package. Why: Daiichi Sankyo wanted to acquire a drug maker that specialized in generics after Japan eased its laws allowing sales of these cheaper versions of expensive drugs. The deal was a trendsetter in Indian market for future M&A deals. India's family-owned companies realized that it was not shameful to sell and profit from their businesses. Benefits Expected: Operational: The main benefit for Daiichi Sankyo from the merger was Ranbaxy’s low-cost manufacturing infrastructure and supply chain strengths. Ranbaxy gained access to Daiichi Sankyo’s research and development expertise to advance its branded drugs business. Expansion: Daiichi Sankyo’s strength in proprietary medicine complements Ranbaxy’s leadership in the generics segment and both companies acquire a broader product base, therapeutic focus areas and well distributed risks. Ranbaxy gains smoother access to and a strong foothold in the Japanese drug market. Financial: The immediate benefit for Ranbaxy was that the deal freed up its debt. Also, Ranbaxy’s addition elevated Daiichi Sankyo’s position from #22 to #15 by market capitalization in the global pharmaceutical market. Synergies: . A complementary business combination that provides sustainable growth by diversification that spans the full spectrum of the pharmaceutica l business. 2. An expanded global reach that enables leading market positions in both mature and emerging markets with proprietary and non-proprietary products. 3. Strong growth potential by effectively managing opportunities across the full pharmaceutical life-cycle. 4. Cost competitiveness by optimizing usage of R and manufacturing facilities of both companies, especially in India. † 5. Respective presence of Daiichi Sankyo and Ranbaxy in the developed and emerging markets 6. Ranbaxy’s strengths in the 21 emerging generic drug markets allow Daiichi Sankyo to tap the potential of the generics business. 7. Ranbaxy’s branded drug development initiatives for the developed markets significantly boosted through this relationship. 8. Daiichi Sankyo able to reduce its reliance on only branded drugs and margin risks in mature markets and benefit from Ranbaxy’s strengths in generics to introduce generic versions of patent expired drugs, particularly in the Japanese market. Post-acquisition objectives: Daiichi Sankyo’s focus was to develop new drugs to fill the gaps and take advantage of Ranbaxy’s strong areas ? To overcome its current challenges in cost structure and supply chain ? To establish a management framework that would expedite synergies ? To reduce its exposure to branded drugs in a way that it can cover the impact of margin pressu res on the business, especially in Japan ? In a global pharmaceutical industry making a shift towards generics and emerging market opportunities, Daiichi Sankyo’s acquisition of Ranbaxy signalled a move on the lines of its global counterparts Novartis and local competitors Astellas Pharma. Post acquisition challenges: Post acquisition challenges included managing the different working and business cultures of the two organizations, undertaking minimal and essential integration and retaining the management independence of Ranbaxy without hampering synergies. Ranbaxy and Daiichi Sankyo also needed to consolidate their intellectual capital and acquire an edge over their foreign counterparts. What went wrong? A lack of proper due diligence In its eagerness to tap the expertise of a generic drug maker, Daiichi took the risk of buying Ranbaxy for top dollar. Three weeks later, the US Food and Drug Administration banned imports of 30 of Ranbaxy's generic drugs, and later determined that the company was selling adulterated or misbranded medicine. It blacklisted two of the company's manufacturing units, limiting the company's ability to sell drugs made in those facilities. Ranbaxy then reported currency-exchange losses of nine billion rupees in 2008. This made Ranbaxy post losses in the same year. Ranbaxy Laboratories Cash Flow ——————- in Rs. Cr. ——————Dec '10 Dec '09 Dec '08 Dec '07 Dec '06 12 mths 12 mths 12 mths 12 mths 12 mths Net Profit Before Tax Net Cash From Operating Activities Net Cash (used in)/from Investing Activities Net Cash (used in)/from Financing Activities Net (decrease)/increase In Cash and Cash Equivalents Opening Cash & Cash Equivalents Closing Cash & Cash Equivalents 1565. 25 1168. 89 -2067. 8 991. 48 92. 57 69. 26 161. 83 1061. 92 -1619. 08 -665. 43 -599. 22 86. 12 -462. 91 -214. 14 2817. 2 -793. 46 1755. 07 862. 39 172. 14 68. 93 1927. 21 774. 41 442. 98 685. 77 315. 49 -708. 18 -2103. 74 132. 19 1739. 65 109. 78 -48. 6 62. 36 110. 96 172. 14 62. 36 What worked? Mr. Singh timed the sale of his family silver perfectly – he got a huge premium for the stake before U. S. regulatory concerns came to light. Daiichi, after the initial stumbles, seems to now be heading in the right direction and in the past year has integrated Ranbaxy's R&D unit in an effort to gain synergies. Daiichi also launched a generic version of Pfizer Inc. ‘s cholesterol drug, Lipitor in US recently. The verdict: Fail This is a classic example of an acquirer paying top price without looking too closely at the quality of the goods. Daiichi continues to pay for the huge risk it took in the deal. U. S. regulatory problems have slowed down the integration of Daiichi and Ranbaxy a lot more than expected. We can see that Daiichi is having similar level of operating expenses and yet to achieve anything special from Ranbaxy. US FDA said that, Ranbaxy had ‘numerous problems' at its facilities in US and India. The US DOJ has also filed the consent decree against Ranbaxy in the US district court of Maryland on 26th January 2012, which would further put pressure on the margins. â€Å"Daiichi is yet to realize anything concrete from this deal. â€Å"

John Stuart Mill Essay

The Indian Tax Structure is quite elaborate, with clear distinction in authority between Central, State and local governments. The taxes levied by the Central government are on income (other than tax on agriculture income which would be levied by the state government), customs duties, central excise and service tax. The State government levies Value Added Tax (VAT), sales tax in states where VAT is not applied, stamp duty, state excise, land revenue and tax on professions. Local bodies levy tax on property, octroi and for utilities like water supply, drainage etc. In the last 10 to 15 years, tax system in India has been subjected to significant reforms. The tax rates have been revised and tax laws have been modified. Since April 1, 2005 many State Governments in India have replaced the sales tax with VAT. Indian Tax Structure After Independence The period after Independence was quite challenging for the tax planners. A huge black economy set in both due to Second World War and the increase in economic activity after independence. Savings and investment were encouraged through the various taxation laws by the way of incentives. There was a need for generating huge amount of revenues to fund the economic growth of the country. The tax department took great care to plan the tax structure not only with the aspect to widen the income tax base, but also to look for alternate taxes and to eradicate tax avoidance . The department was severely tested due to the high volumes of work. Some of the prominent taxes that came into existence were: †¢ †¢ †¢ †¢ †¢ †¢ Business Profits Tax (1947) Capital Gains (1946-48 to 1956) Estate Duty (1953) Wealth Tax (1957) Expenditure Tax (1957) Gift Tax (1958). To check the growth of black money, high denomination notes were demonetized in 1946. The Income tax Act was re modified in 1961, replacing the outdated law of 1922. Income Tax Structure Post Liberalization The wave of tax reforms which started across the world in the second half of 1980’s found its way into India. As part of its policy of liberalization, India introduced tax reforms in the 1990’s. The reforms introduced in the Indian tax structure are different in comparison to other countries. The tax reforms in India took place independent of interference from any external multilateral agency unlike some other countries. But the tax reforms took place in such a way as to ensure its adherence to the prevailing International trends. During the initial stages of reforms, the restructuring of the tax structure took place with a view to increase savings and use the increased savings towards investment, to bring in equitable distribution of income and to rectify the disparities due to oligopolistic market that existed due to co existence of both private and public sector. The tax structure reform in India can be used as an example for many developing countries that are in the same path of development, due to the large size of the country and the disproportion in the socio economic condition across the country. Direct Tax Direct tax is the tax which is charged directly on the tax payer. For e. g. property tax and income tax. In other words direct tax is that tax that is deducted from one’s salary. Direct Taxation in India Direct taxation in India is taken care by the Central Board of Direct Taxes (CBDT); it is a division of Department of revenue under Ministry of Finance. CBDT is governed by the revenue act 1963. CBDT is given the authority to create and control direct taxes in India. The most important function of CBDT is to manage direct tax law followed by Income Tax department. In India the tax structure is divided amongst the central government and state government. The central government levies taxes on income, custom duties, central excise and service tax. While the state government levies tax like state excise, stamp duty, VAT (Value Added Tax), land revenue and professional tax. Local civic bodies levy tax on properties, octroi etc. Capital gains tax, personal income tax, tax on corporate income and tax incentives all come under the purview of direct tax. Direct taxes are charged on the basis of residential status and not on the basis of citizenship. The assessee are charged based upon the following factors †¢ †¢ †¢ Resident Resident but not ordinary resident. Nonresident. Direct Taxes Before Reform They had a major impact on economic policies, creation of savings and the trend of investment. There was no proportion in terms of the impact of direct taxes on the economy and there relative share in total tax revenues. The system of direct taxes was very much complex and inefficient because of the combination of high marginal rates of personal income and wealth taxation and high rates of corporate profits. The corporate tax was pretty high. It leads to large scale evasion. Members Of Parliament and Central Government Ministers get comparatively low salaries, but they are given a sitting allowance which is not taxable. Ministers, MP’s and other high ranking government officials get government allocated accommodation, where the charges are pretty less in comparison to the prevailing market rate. Growth in Direct Tax collection during the Financial Year 2008-09 Net direct tax collection during the fiscal 2008-09 stands at Rs. 338, 212 crore, up from Rs. 312, 202 crore during 2007-08, registering a growth of 8. 33 percent. Growth in Corporate Taxes was 10. 84 per cent, while Personal Income Tax (including FBT, STT and BCTT) grew at 9. 09%. Despite economic slow-down and substantial relief to noncorporate taxpayers, direct tax collections exceeded the previous year’s collection by about Rs. 26, 000 crore. Growth In Direct Tax Collection During The Financial Year 2009-2010. The net direct tax collections grew by 5. 77 per cent during the first two months of the current fiscal (2009-2010). It was Rs 24,158 crore compared to Rs 22,840 crore at the same time last year. Corporate tax grew at5. 56 per cent (Rs 8578 crore against Rs 8126 crore), while personal income tax (including FBT, STT and BCTT) grew at 5. 92 per cent (Rs 15,559 crore as against Rs 14,690 crore0. Overall refund outgo during the period increased by 26. 19 per cent (Rs 11,375 crore as against Rs 9014 crore)while refunds to non corporate taxpayers grew by 61. 7 per cent (Rs 2,149 crore against Rs 1,329 crore). Corporate Tax A company has been defined as a juristic person having an independent and separate legal entity from its shareholders. Income of the company is computed and assessed separately in the hands of the company. However the income of the company which is distributed to its shareholders as dividend is assessed in their individual hands. Such distribution of income is not treated as expenditure in the hands of company, the income so distributed is an appropriation of the profits of the company. Taxable Corporate Income The tax levied on a company’s income is based on its legal residence. Companies of Indian origin are levied tax in India, while International companies are levied tax on earnings from their Indian operations. For International companies’ royalty, interest, gains from sale of capital assets within India, dividends from Indian companies and fees for technical services are all treated as income arising in India. Tax On Distributed Profits Till 1997, a company was not required to pay any income tax on the amount of dividends declared, distributed or paid by such company. But such dividend was included in the income of the shareholders under the head â€Å"income from other sources†. The finance act 1997 brought about changes to the rule. A) Tax On Distributed Profits Of The Domestic Company The domestic company would be required to pay additional income tax on any amount declared, distributed or paid by such company by way of dividend (be it interim or otherwise) on or after 1-06-1997,be it from current or accumulated profits. Such additional income tax shall be payable @ 10 per cent of the amount so distributed. Even if no income tax is payable by the company on it total income, the additional tax would have to be paid. B) Exemption Of Dividend In The Hands Of Shareholders In view of the income tax now payable by the domestic company, any dividends declared, distributed or paid by such company, on or after 01-06-1997 shall be exempt in the hands of the shareholders. Time limit for deposit of additional income tax: Such additional tax will have to be paid by the principal officer of the domestic company within 14 days from the date of: a) Declaration of any dividend. b) Distribution of any dividend. c) Payment of any dividend, whichever is earlier. Additional income-tax is not allowed as deduction: The company shall not be allowed any deduction on account of such additional income tax under any provisions of the income tax act. Indian Budget 2008 Indian Corporate Taxation Minimum Alternate Tax To wipe out the ambiguity on adjustments relating to tax entries in the profit and loss account, it is proposed that the â€Å"book profits† be increased by an amount of DDT paid, amount of deferred tax paid and deferred tax provision debited to Profit and Loss Account. Dividend Distributing Tax In order to overcome the domino effect of DDT, it has been suggested that any dividend received by a domestic company (C1) during any financial year from its subsidiary (C2) shall be allowed to be deducted from dividend to be declared/distributed/paid by C1, to calculate DDT, if the dividends so received by C1 had been scrutinized to payment of DDT by C2. At the same time C1 must not be a subsidiary of any other company. Business Income The Budget 2008 has proposed have a weighted deduction of 125% with respect to any sum paid for scientific research to a domestic company doing scientific research and development. To remove multiple deductions, it has been proposed some Indian companies incurring the expenses would not be able to use the weighted deduction of 150 per cent as prescribed under the provisions of the Act. Income Tax In India Income tax in India is levied by the Central government and is monitored and controlled by Central Board OF Direct Taxes under Ministry of Finance in allay with the provisions of the Income Tax Act. Income earned in a given financial year is subject to tax as per the rates prescribed for that year. A financial calendar is from April 1 to March 31 of the following year. India has adopted the residential form of tax system. It means tax payers will be divided into residents or non residents. A tax payer can also be classified as ordinary residents. Residential Status An individual is resident in India if he is in India in the tax year for: †¢ †¢ †¢ 182 days or more; or 60 days or more (the period of 60 days stands changed to 182 days or more for Indian citizens or persons of Indian origins on a visit to India; and also for citizens of India who leave India for employment abroad as member of a crew of an Indian ship) during the tax year, and an aggregate of 365 days or more during the four years preceding the tax year. An individual who does not satisfy the above conditions is a non-resident. A resident is â€Å"not ordinarily resident† in India in any tax year if he: †¢ †¢ †¢. Has been â€Å"non-resident† in India in nine out of the 10 previous years preceding that year: or Has during the previous seven years, preceding that year, been in India for a total period of 729 days or less. Taxability based on status Taxability Based On Status Residential Status Indian Sourced Income Foreign Sourced Income Resident Taxable In India Taxable In India Resident but not ordinarily resident Taxable In India Not Taxable In India Non resident Taxable In India Not Taxable In India Heads Of Income Income can be divided into five categories. The income that falls within the tax component is disclosed in line with rules for a particular head and then cumulated to determine the aggregate income to be taxed. But losses under certain categories cannot be cumulated with income gained under other categories. Salaries: It covers those monetary gains that are obtained for services performed and would include wages, pension, fees and commission . Standard deduction is taken from the salary and the amount of deduction depends upon the income received. Income From House property: It involves income earned by renting residential and commercial property. Only two authorized deductions are allowed while calculating income. Profits And Gains From Business Or Profession: It covers monetary benefits gained from business or profession minus the permissible deductions, against the revenue earned. Capital Gains: It deals with gains due to transfer of assets. The duration of holding determines the classification of the asset, which then decides the method of taxation. Capital assets held for 36 months (12 months in case of shares/securities) are taken as short term assets, while all other capital assets are taken as long term capital assets. Long term assets have the advantage of lower rate of tax. Income From Other Sources: It is the remaining category of income and takes care of all income not covered by any category. Foreign Nationals The tax law in India allows for exemption of income earned by foreign nationals for services provided in India, under certain condition: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Remuneration from a foreign enterprise not conducting any business in India, provided the individual’s stay in India does not exceed 90 days and the payment made is not deducted in computing the income of the employer; Remuneration received by a person employed on a foreign ship provided his stay in India does not exceed 90 days; Remuneration of foreign diplomats, consular staff, trade officials and their staff and family; and Income of an employee or consultant of a government approved foreign charitable institutions. Payment from an International unit not having any business in India on condition that the individual does not reside in India for more than 90 days and the remuneration made is not subtracted in calculating the income of the employer. Payment obtained by a person working on an International ship under condition he does not reside in India for more than 9 days. Payment for foreign diplomats, consular staff, trade officials and their staff and family and Earnings of an employee or consultant of a government approved foreign charitable institutions. India Budget 2008 Personal Taxation Basic Tax Rates Income (INR) Up to 150,0000 150,001-300,000 300,001-500,000 Above Tax Rate Nil 10% 20% 30% *Basic exemption for women and senior citizens will be INR 180,000 and INR 225,000 respectively. Wealth Taxation In India The wealth taxation in India is known as the wealth tax act, 1957. It applies to all the citizens of the country. It is one of the most important direct taxes. It is paid on the property ownership benefits. Till a person retains the ownership of a property, he or she has to pay wealth tax based on the prevailing market rate. Even if the property is not yielding any income, Wealth tax would have to be paid. Payment Procedures Of The Wealth Tax In India An Assessee is one who pays the wealth tax. An assessee can belong to any of the following categories: †¢ †¢ †¢ †¢ †¢ †¢ A Company. A Hindu undivided family. An Association of Persons or a Body of Individuals. Non corporative taxpayers. A dead person’s legal representative, the executor or administrator. A non resident’s agent. For a Hindu Undivided Family the tax is considered on the income derived from joint family collections. But for a non-corporative taxpayers, whose account is audited they have to pay the wealth tax according to the existing tax rate. Chargeability To Wealth Tax In India One of the main factors for a person to pay the wealth tax in India is the persons domicile status. According to the act, the domicile status of the assessee and the domicile status of the same needed for payment of the Income Tax must remain similar. Another factor based on which wealth tax is computed is the status of the assessee, whether he is a citizen or a non citizen. For citizens the wealth of the person within India is taxed, while for non citizens the wealth of the person within India is taxed, while the wealth located outside India is not taxed. Assets On Which Wealth Tax Is Charged The assets on which wealth tax is chargeable in India are: †¢ †¢ †¢ †¢ †¢ †¢ Residence like guesthouse, residential house, urban farmhouse and commercial property. Automobile for personal use. Precious items like jewelry, bullion, furniture, utensils. Yachts, boats and aircrafts used for non commercial purposes. Urban land under the authority of municipality or cantonment board having a population of, 10,000 and more. If the cash in hand is more than Rs 50000 for individuals and Hindu Undivided Families. Indirect tax Charge levied by the State on consumption, expenditure, privilege, or right but not on income or property. Customs duties levied on imports, excise duties on production, sales tax or value added tax (VAT) at some stage in production-distribution process, are examples of indirect taxes because they are not levied directly on the income of the consumer or earner. Since they are less obvious than income tax (because they don’t show up on the wage slip) politicians are tempted to increase them to generate more state revenue. Also called consumption taxes, they are regressive measures because they are not based on the ability to pay principle. Indirect Tax System India Indirect Taxes Pre Reforms The indirect tax structure was extremely irrational between the reforms. The Constitution gives the permission to levy a multitude of indirect taxes. But the most important ones are customs and excise duties charged by the Central government and sales tax excepting inter state sales tax to be charged by the state government. The indirect taxes levied by the centre like customs, excise and central sales tax and the major indirect taxes levied by the states and civic bodies like passenger and goods tax, electricity duty and octroi when taken together did not present a rational system. Indirect Taxes Post Reforms †¢ †¢ †¢ Even post reforms, the indirect tax regime in India is still in the early stages of growth. Both the Central and State governments charge a multitude of indirect taxes. The central government charges tax on goods at the point of import (Customs duty), manufacture (Excise duty), inter state sales (Central sales tax or CST) and on provision of services (Service tax). The state governments charge tax on goods sold within the state (Sales tax/Value Added Tax or VAT), and on the goods that enter the state (Entry tax). In the present scenario corporate would have to analyze the tax cost involved in a transaction, have enough backup documentation to support their tax positions and keep looking for ways for tax maximization. India Budget 2008 Indirect Taxes As per the Ministry Of Finance there has been significant development in planning for introducing the goods and services tax (GST) from April 1 2010. As a first step the rate of central sales tax (CST) is under proposal to be decreased to 2 per cent from April1 2008. The general rate of central value added tax (CENVAT) has been decreased from 16 per cent to 14 per cent across all goods. Custom Duties Customs regulation in India is through the Customs act. The Customs act came into existence in 1962 at a time when the â€Å"License Quota Permit Raj† system existed in the country. It came into existence to check illegal imports and exports of goods. All imports into the country would be charged a duty, to give protection to the Indian industries and to check the amount of imports with a view to secure the exchange rate of the country. Customs duty on goods imported or exported from India are levied according to the Tariff Act 1975. To monitor imports and exports, the Central government has the authority to inform the ports and airports for the unloading of the imported goods and loading of the exported goods, the location for clearance of goods imported or exported, the routes by which above goods may pass by land or inland water into or out of Indian ports. According to the custom laws, the following are the various types of duties which can be charged. Basic Duty As the name suggests, it is the normal duty charged under the Customs Act. Additional Duty This duty is levied under section 3(1) of the Customs Tariff Act and is equal to excise duty levied on a like product manufactured or produced in India. Anti Dumping Duty International sellers may at times export goods into India at prices which would be less than the prices they would be charging in their domestic market. The reason for this is to capture the Indian markets, which is against the interest of the Indian industry. This economic phenomenon is called dumping. To avoid dumping the Central government may charge additional duty equal to the margin of dumping on such articles provided the goods have been sold at less than normal price. Countries which are signatories to the GATT or countries with â€Å"Most Favored Nation Status† cannot be charged dumping duty. India Budget 2008 Custom Duty †¢ †¢ †¢ The peak rate of basic customs duty (BCD) on all agricultural products is 10 per cent. For certain industries, customs duty has been reduced. For project imports the duty has been reduced from 7. 5 per cent to 5 per cent. In place of sales tax/value added tax (VAT) the additional duty of customs at 4 per cent has been induced on power generation projects. A Countervailing Duty (CVD) of 1 per cent has been charged on mobile phones. Double Taxation Relief A condition in which two or more taxes may need to be paid for the same asset, financial transaction or income is known as double taxation. It generally takes place due to the overlapping of the tax laws and regulations of different countries. Thus, double taxation occurs when a taxpayer is charged income tax, both at his country of residence as well as in the country where the income is generated. Taking into account the laws of income tax in India, a non-resident becomes liable to tax payment in India, given that it is the place where the income is generated. Moreover, he has to additionally bear the burden of tax payment in his own country, by virtue of the inclusion of the same income in the ‘total world income’, which forms the tax base of the country where he resides. To effectively deal with the problems related to double taxation, Central Government, under Section 90 of the Income Tax Act of1961, has been certified to enter into Double Tax Avoidance Agreements (DTAA) with other countries. These agreements are meant to alleviate various problems related with double taxation. So far, India has entered into Double Taxation Avoidance Agreements with 65 countries, including U. S. A, Canada, U. K, Japan, Germany, Australia, Singapore, U. A. E and Switzerland. The tax treatises offers relaxation from double taxation, by providing release or by providing credits for taxes paid in one of the countries. Under Section 90 and 91 of the Income Tax Act, relief against double taxation in India is provided in two ways: Double Taxation Relief In India Double taxation relief in India is of two type’s Unilateral relief and Bilateral relief. Unilateral Relief Under Section 91, Indian government can relieve an individual from burden of double taxation, irrespective of whether there is a DTAA between India and the other country concerned or not, under certain conditions. Cases where a person enjoys double taxation relief as per the unilateral relief scheme are: †¢ †¢ †¢ †¢ If the person or company has been a resident of India in the previous year. If the person or company has paid income tax under the laws of the foreign country. The same income should be gained and received by the tax payer outside India in the previous year. The income should have been taxed in India and in a country with which India has no tax treaty Bilateral Relief Under Section 90, Indian government provides protection against double taxation by entering into a mutually agreed tax treaty (DTAA) with another country. Under bilateral relief, protection against double taxation is provided either by completely avoidance of overlapping tax or waiving a certain amount of the tax payable in India. Excise Duty Central excise duty is an indirect tax which is charged on such goods that are manufactured in India and are meant for domestic consumption. The taxable fact is â€Å"manufacture† and the liability of central excise duty arises as soon as the goods are manufactured. The tax is on manufacturing, it is paid by a manufacturer, which is then passed on to the customer. The term â€Å"excisable goods† means the goods which are specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act 1985. The term â€Å"manufacture† refers to any process †¢ †¢ †¢ Related or supplementary to the combination of a manufactured product. Which is specified in relation to any goods in the Section or Chapter Notes of the First Schedule to the Central Excise Tariff Act 1985 as amounting to manufacture or Which in relation to the goods specified in the Third Schedule involves packing or repacking of such goods in a unit container or labeling or re-labeling of containers including the declaration or alteration of retail sale price on it or adoption of any other treatment on the goods to render the product marketable to the consumer. Three different types of Central Excise Duties exist in India. They are listed below: Basic Excise Duty In India Excise Duty, imposed under section 3 of the ‘Central Excises and Salt Act’ of1944 on all excisable goods other than salt produced or manufactured in India, at the rates set forth in the schedule to the Central Excise tariff Act, 1985, falls under the category of Basic Excise Duty In India. Additional Duty of Excise Section 3 of the ‘Additional Duties of Excise Act’ of 1957 permits the charge and collection of excise duty in respect of the goods as listed in the Schedule of this Act. This tax is shared between the Central and State Governments and charged instead of Sales Tax. Special Excise Duty According to Section 37 of the Finance Act, 1978, Special Excise Duty is levied on all excisable goods that come under taxation, in line with the Basic Excise Duty under the Central Excises and Salt Act of 1944. Therefore, each year the Finance Act spells out that whether the Special Excise Duty shall or shall not be charged, and eventually collected during the relevant financial year. India Budget 2008 Excise Duty †¢ †¢ †¢ †¢ †¢ The general rate of CENVAT has been brought down from 16 per cent to 14 per cent. The CENVAT on many goods like cars, writing paper, printing paper and packing paper, drugs and pharmaceuticals, water filtration and purification devices, pan masala not containing tobacco etc have been decreased. For goods like anti AIDS drugs and bulk drugs, packaged tender coconut water, tea and coffee mixes, specified refrigeration equipment, etc have been exempt from excise duty. For packaged software the duty has been increased from 8 per cent to 12 per cent. The duty of 1 per cent on National Calamity and Contingent Duty has been imposed on mobile phones. Permanent Account Number (PAN) Permanent Account Number or PAN is issued by the Income Tax Office of India, to all those who are required to pay income tax in the country. Thus, taxpayers whose income is taxable are issued a Permanent Account Number, which is similar to the Social Security Number issued in United States to citizens and other legal residents. So, PAN in India is nothing, but a national identification number. The main purpose of allotting PAN card is to outline the monetary transactions of individuals and to avert any sort of tax evasion by tax payers. Apart from keeping a track on the various financial dealings of a person, a PAN is also required for many other important activities. As every individual is assigned a unique, national and permanent number as his/her PAN, the number is required while opening an account, applying for a phone line, receiving salary or other professional fees. Thus, it becomes an authentic document, proving the identity of the individual. The PAN of a person remains the same even if there is residential change of address from one state to another. Each individual entitled to a Permanent Account Number receives a PAN card, wherein the number is mentioned. The PAN follows the following structure – XXXXX1111X. The first five characters are letters; the next 4 are numerals, and the last character is again a letter. A Permanent Account Number that doesn’t follow this pattern is deemed as invalid. Moreover, the fourth character of the PAN is one of the following, depending on the type of assessee who is allotted the number. †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ C – Company P – Person H – Hindu Undivided Family (HUF) F – Firm A – Association of Persons (AOP) T – AOP (Trust) B – Body of Individuals (BOI) L – Local Authority J – Artificial Juridical Person G – Government In addition, the fifth character of the PAN is the first character in the surname of the assessee. Though PAN is generally issued to individuals to keep track of the tax payment, it can however also be issued to non-taxpayers in India. Sales Tax In India Sales Tax in India is a form of tax that is imposed by the government on the sale or purchase of a particular commodity within the country. Sales Tax is imposed under both, Central Government (Central Sales Tax) and State Government (Sales Tax) Legislation. Generally, each state follows its own sales tax act and levies tax at various rates. Apart from sales tax, certain states also imposes additional charges like works contracts tax, turnover tax and purchaser tax. Thus, sales tax acts as a major revenuegenerator for the various State Governments. Sales tax is an indirect form of tax, wherein it is the responsibility of the seller of the commodity to collect and recover the tax from the purchaser. Generally, sale of imported items and sales by way of export are not included in the range of commodities which requires payment of sales tax. Moreover, luxury items (like cosmetics) are levied heavier sales tax rates. Central Sales Tax (CST) Act that falls under the direction of the Central Government takes into account all the interstate sales of commodities. Thus, sales tax is to be paid by every dealer on the sale of any commodity, made by him during inter-state trade or commerce, irrespective of the fact that no liability to pay tax on the sale of goods arises under the tax laws of the appropriate state. He is to pay sales tax to the sales tax authority of the state from which the movement of the commodities commences. However, from April 01, 2005, most of the states in India have supplemented sales tax with a new Value Added Tax (VAT). The practice of VAT executed by State Governments is applied on each stage of sale, with a particular apparatus of credit for the input VAT paid. VAT in India can be classified under the following tax slabs: †¢ †¢ †¢ †¢ †¢ 0% for essential commodities 1% on gold ingots and expensive stones 4% on industrial inputs, capital merchandise and commodities of mass consumption 12. 5% on other items Variable rates (state-dependent) are applicable for petroleum products, tobacco, liquor etc. Service Tax in India Constitutional Provision Article 265 of the Constitution stresses that no service tax in India shall be charged or collected other than by the concerned authority. Schedule VII divides this subject into three different sections †¢ Union list (only Central government has power of legislation). †¢ †¢ State list (only State government has power of legislation). Concurrent list (both central and state government can pass legislation). An amendment (95th amendment) in 2003 was made to enable the Central government to decide the method of charging service tax and the means of collection of proceeds by the central government and state government. Subsequently a new article 268 A has been introduced for levy of service tax by Central government. Creation Of DGST The department of Director General (Service Tax) was created in 1997 to handle the huge workload resulting due to the increasing importance of service tax. The Director General (Service Tax) is in charge of the department and his role and authority are: †¢ †¢ †¢ †¢ .

Outsoucing in the United States Research Paper Example | Topics and Well Written Essays - 750 words

Outsoucing in the United States - Research Paper Example In as far as recruitment is concerned, there are other independent companies which can offer advanced services on behalf of different organisations which entails that they can outsource the recruitment and staffing services to third parties. As such, this paper seeks to explain the meaning of outsourcing as well as outlining its pros and cons. The paper will also attempt to evaluate real life situations of outsourcing in different organisations. According to Heneman & Judge (633), outsourcing refers to contracting work to a vendor or third party administrator to perform the tasks that could be done by the organisation itself. This means that the functions of the whole human resources department in particular can be done by an outside company. There are many examples of outsourcing of specific staffing activities and some of them include the following: seeking temporary employees, executive search, skills testing, assessing employee backgrounds, job relocations, assessment centers as well as affirmative action planning (Kleynhans, 85). Basically, the organisation can outsource some of its functions such as recruitment to the third party whilst it concentrates on other core business of the organisation. ... This process is usually longer and many organisations usually spend a fortune in recruiting and selecting the right candidates for the organisation. Outsourcing the recruitment services to the third party is advantageous in that the organisation will only pay a fixed fee and these employment agencies have experience in attracting experienced and skilled workers in the industry. The organisations will not waste more money and resources while training new candidates since the recruitment agencies can head hunt for people with the required knowledge and skills. By outsourcing the recruitment services to the other parties, the HR department of the organisation concerned will be better positioned to focus on the other pertinent issues such as employee motivation as well as improving their performance for the benefit of the organisation as a whole. The other advantage of outsourcing is that the organisation is likely to witness improved services since the vendors have special expertise in selecting the right people for different clients. On the other hand, the recruitment agencies are flexible to meet the changing needs of the clients given that they constantly seek information about the needs of different organisations with regards to their staffing needs. Despite the driving factors forcing the organisations to consider outsourcing of HR activities to the other third parties, there are also some cons that are not always favourable to the company. One notable disadvantage is that there is likely to be some form of resistance within the organisation where some members will prefer the HRM to fulfil all its functions by considering internal promotion of

Palestine-Israel Conflict 1 Essay Example | Topics and Well Written Essays - 750 words

Palestine-Israel Conflict 1 - Essay Example Though the Israel is a registered country in the United Nations but many of the countries have yet not accepted it as an independent country and claim it as ‘Jewish Occupied Palestine’. Conflict The primary cause of the Israeli-Palestinian conflict is over the land. Jews call this land Israel while Palestinians call it Palestine. Both groups consider a God given right to the territory and base their arguments with the God promise that he did with Ibrahim in Bible. Since both opponents were once part of the same group of people who inherited what they consider as Promise land. The conflict gets harsh with Israelis continuous to deny the Palestinian refugees right to get back to their country which is unacceptable to the Palestinians too. Secondly, some people claim that it is also the fight over water. As water is a very rare source in the Middle East territory so it adds intensity to the issue. Much of the water sources in the region are currently in Palestinian territor y, however Israelis have total control over it. But for sure this war has become a war of ethnicity than anything else. Cause For many centuries there was no conflict in the territory of Palestine and Israel for many centuries. Around 85percent Muslims, 10 percent Christian, and 5 percent Jews were leaving peacefully in the territory till 19th century. Early in the 19th century, a group in Europe decided to take possession of this land, they were called Zionists who were represented an extremist minority of the Jewish population. The major goal of Zionists moment was to create a Jewish homeland. First they thought to create it in Africa or in America but later came to consensus to locate it in Palestine. Thus, they started migrating to the Promise land and started buying the major lands there. At the start, they did not have any problems and the territory remained calm but later, when Palestinians realized they broke out and came to a war with Jews in 1947-49. Five Arab states parti cipated in the war but they were unable to get into the Israeli territory. By the end of war 78% of the territory was under Jewish Control and they never let the Palestinians refugees to get back to their homeland (A Synopsis of The Israel/Palestine Conflict). Intensity of the Situation Israel-Palestine Conflict is very intense and deep. Palestinians face systematic discrimination based on their religion, race, culture, origin and ethnicity. They are deprived of the basic facilities that just across the border in Jewish areas are easily available. For Example, Palestinians have limited or no access to clean water, schooling, electricity or roads whereas Israeli territory is considered among the most modern places in the world equipped with high technological facilities for the mob. Moreover, the Army invasion every once and now at the strip of Gaza killing most of the civilians women and children who have no idea what they are being killed for. More than 10,000 Palestinian women and children are jailed in Israeli’s jail and living a miserable life facing physical and mental abuse and torture. Few of them have had a legitimate trial but nothing could make their life better. Israeli forces have a total control over Palestinian border not only externally but also internally. Israeli forces beat men, women and children; strip search them and resists them to reach to hospitals at times. Food and medicine are blocked to enter from Gaza strip causing escalating human right crises. Few of them have had a legitimate trial; Physical abuse and torture are frequent. Israeli forces invade almost daily, injuring, kidnapping, and sometimes killing inhabitants Opinion I

Japan -earthquake, tsunami, and nuclear crisis in international Essay

Japan -earthquake, tsunami, and nuclear crisis in international business perspective - Essay Example The influence of the earthquake and the tsunami in the nuclear strategies of countries worldwide is examined in this paper. Reference is also made to the effects of the event on the global market. Appropriate theories are used for explaining the relationship between the earthquake in Japan and the nuclear crisis that followed. 2. Background of earthquake It could be argued that Japan should be best prepared to face such events. Two Swiss experts have been asked to evaluate the potentials of predicting the above earthquake: In accordance with Domenico Giardini, there were major chances to predict the specific earthquake. It is noted that earthquakes of 8.5 are considered as possible in the greater region; also, a few days before the above earthquake, tremors of 7.7 were reported in the region, but they were not given the adequate attention (Kuenzi & Beti 2011).

Management research methods Assignment Example | Topics and Well Written Essays - 2500 words

Management research methods - Assignment Example However, from the point of view of the consumers, it is of vital concern that the personal motivations that prompt them to make better use of the internet as shopping venue be ascertained. While many, if not all, the products sold online are also available from brick and mortar stores and other conventional venues such as through the televised home shopping network, the motivations for customers to purchase online appears to be influenced by a special set of factors which pertains exclusively to the online technology. The individual must have a strong sense of confidence in trusting the system, because (1) he/she has not physically examined the product he/she is actually buying, only being able to view a product replica on his/her monitor or screen; (2) he/she is transacting with a business entity he/she only sees onscreen, and which may be located elsewhere on the globe. Without a physical store to go to, he or she may not know how to reach the vendor if his/her claim is unsatisfied ; (3) the customer has to have his/her payment transmitted before delivery of the purchased item, thus sending the cash through electronic means is a leap of faith; and (4) release of the customer’s bank account or credit card number is a risky act which may be the source of identity fraud and electronic theft. These are significant issues to which high risks are attached, and savvy consumers will be usually cautious about engaging in these acts. It is therefore the result of strong motivational forces that consumers would agree to undertaking these risks in order to shop online. The survey conducted here therefore has the specific purpose of determining what the important factors are that influence an individual’s desire to purchase items online, despite the attendant risks. Design of the survey The survey is designed to be answered by respondents who have personally transacted a purchase over the internet. The respondents may be of any age, of either gender, and of a ny walk of life. The only disqualifying attribute is if the individual has not experienced purchasing something over the internet. In this sense, internet or online shopping includes all e-commerce facilities for retail customers online, from ordering merchandise from particular retailers, to buying something from other customers in online auctions such as the e-Bay site. The population thus includes everybody who has shopped online at least once. The size of the sample is ideally one that is representative; however, since internet shopping involves an indeterminate number of people, most likely running into the hundreds of thousands or millions with multiple transactions, then it is difficult to ascertain a representative number. The survey should therefore aim for a large number, and from observing the sample sizes shown in the different academic studies, a good number would be 250 to 350 respondents. It is also important to make sure that the locations surveyed represent as equal ly as possible all the area intended to be covered by the study. The sample selection method must ensure the highest chances of getting a representative sample, while ensuring that the intended respondents are reached and their existence and qualifications verified. Inasmuch as those who are qualified to respond to this survey are those who are exposed to and confident

Taxation and growth Essay Example | Topics and Well Written Essays - 2000 words

Taxation and growth - Essay Example widespread drop in spending or decrease in demand, and the economy faces a lot of inflation that is the general increase in the prices of all goods in the economy. This affects the level of growth in such an economy since most of the income is used on consumption and very little is spent on growth and development. Therefore, the level of growth declines significantly. This can be reversed during economic recovery by use of fiscal policy. This is where the government uses taxation or fiscal policy measures to be able to control the economy (Barro & Gordon, 1984). U.K experienced an economic recession between 1998 and 2012. This was stimulated by the worldwide inflation that was affecting the economy in terms of prices of goods. The government of U.K adopted the use of tax policies to be able to gain economic recovery and growth. Increasing demand is a tool for short-term recovery. This can be done through reduction of consumption taxes. In return, people will spend more hence; there will be an increase in demand, which will stimulate business in the economy. Hence, economic recovery in the short run will be achieved. Increasing the supply in the economy would stimulate long-term economic recovery. This can be done through reducing the taxes for inputs and raw materials that will make them cheaper to stimulate supply. This will therefore lead to increased supply in the economy since suppliers can be able to buy more goods to supply their goods to the market, which leads to economic growth through trade. Low-income earners have very little disposable income. If the government would reduce their taxes, the little income that would be saved would stimulate demand and hence help the economy recover from recession. This is because low-income earners have little to save and to invest meaning that most of their income is used to buy basic commodities. As a result, demand increases and the economy grows significantly. Consumption is a daily activity for every person.

Chapter 3 of Bhagavad Gita and Purusha Sukta Essay

Chapter 3 of Bhagavad Gita and Purusha Sukta - Essay Example â€Å"The Way of Action† shows the state of mind of Arjuna in dealing with the dilemma of choosing between accomplishing his duties as a warrior to fight his own people and his love for his relatives. He seeks the answer to his problems with Lord Krishna, questioning Him why one should engage himself in an action which will cause so much chaos to human lives. In the end, Lord Krishna let Arjuna understand about the duties of each individual to his own self, to his family and to the society (Schweig 57-58). An individual cannot achieve freedom from action without entering upon action. He cannot reach perfection as well by just renouncing a certain action. Everyone is driven to action instinctively and so he must perform his duties for action is better to inaction. These various levels of duties of man comprise the essence of Karma Yoga. Karma, or action, aims that a person should â€Å"attain a stage where any action is not bound by desire for results† (Varma). With this , one must not control the indrivas by will; instead remain unattached to the results in order to perform selfless action. By doing work without attachment, a man attains supreme bliss. For example, the Karma followed by the head of the household in different levels of society is that he is a husband to his wife, a father to his children, and also a boss to many employees working with him, all at the same time (Varma). Yagya or sacrifice is another theme of the third chapter of â€Å"Bhagavad Gita†. Lord Krishna teachers Arjuna that mankind will prosper only when he learns how to give. Man is bound by the actions that he performs unless he does them as a sacrifice (Schweig 59-60). For instance, Lord Krishna by virtue of his holiness has no duty to perform but he chooses to work so that man can achieve a level of spirituality by following his examples. In one of the verses, Arjuna asks Lord Krishna how man commits sin, to which Lord Krishna answers that it is because of desire , for desire lives in the senses, mind and intellect. For a man to attain knowledge, he must control his senses with his mind through his intellect so that desire can be overcome and therefore attain knowledge. Thus, a worldly-minded man is self-centered while a man enlightened with Karma Yogi has overcome self-centeredness and strives to work for the benefit of all (Varma). The essence of the teachings of Lord Krishna and his universal form as exemplified in â€Å"Bhagavad Gita† closely resembles to that of the Purusha Sukta. Like Bhrama in the Upanishads, Lord Krishna was identified in Gita with eternity so that his intransience can be attributed in his divine role as the regulator of human society. According to Bandyopadhyaya (91), â€Å"the ideological objective was the same as that of the Purusha Sukta and Advaita philosophy, namely to rationalize, legitimize and sanctify the prevailing class-caste in the face of the developing contradictions within that structure.† Lansdowne (15) defines Purusha Sukta as â€Å"

Maritime Externalities Essay Example | Topics and Well Written Essays - 1500 words

Maritime Externalities - Essay Example This problem of disposal and dumping of radioactive waste and its adverse effects on our ecology has gained considerable attention in recent years. Marine pollution not only effects and pollutes the environment and beaches, it upholds toxic effects for the marine divers, ecologists and marine wild life. It is true that more than 70% of land is water and how awful is the situation in which the marine pollution rate which is caused by ships and cruises is increasing. This rapid increase is harmful for us in dual ways. On one hand it pollutes the sea and marine life, thereby affecting our health indirectly as the same sea food is consumed by us, on the other hand we are directly affected by the marine wastes and polluted environment caused by sea transport. Offshore Externality: Another negative externality is to the fishing industry, which according to research is affected to an extent that there has been a concern about the impact of 'seismic detonations', which means that on a local scale, eggs and larvae are killed and fish are scared off (Vidas, 2000, p. 132). The onus has been on the shoulders of Norway and Russia, both of which are engaged in drilling offshore petroleum in the Barents Sea, whose part has been explored as an important spawning and growth area for the Arctic cod stock, supplying one of the most valuable commercial fisheries in the world. Any accident involving large scale oil spills would end up in severe environmental effects resulting from sea transport. Of course one cannot predict the probability of such accident but it is presumed to occur at higher temperate zones. Also the regional differences in shipping equipment standards and maritime industrial safety levels indicate that the risk is particularly high i n the Russian part of the Barents Sea. Should an accident occur marine life would suffer utmost from the climate and weather conditions. Pollution: The marine externalities are almost common to every country and state, therefore the law is international which suggests that marine environment in context with the rules on pollution from ships are essentially uniform and international at the global level. For example legal implications require that dumping at sea should be followed by a minimum standard on a global platform, but have been supplemented and strengthened by a number of regional agreements or by national legislation. Despite having same rules to be followed everywhere which is based on airborne sources of marine pollution no efforts have been made at the regional, sub-regional or national level to deal with this problem globally. No significance has been given to the environmental impact assessment which results from the basis of marine pollution. Not even legal monitoring of pollution is observed. What has been done so far in order to regulate marine environment is the regulation of International ship-sourced marine pollution which has acquired at least some attention since the 1950s. In this current era where 70% of our seas are polluted, the marine pollution regulation is still following the 1954 International Convention for the Prevention of Pollution of the Sea by Oil. Though the Convention has been designed to combat maritime pollution by prohibiting and limiting the discharge of harmful substances or effluents from ships, but still unimplemented. Being globally accepted and encouraged by marine ecologists, this global application contains

Bsop 434 lab 5 Case Study Example | Topics and Well Written Essays - 750 words

Bsop 434 lab 5 - Case Study Example The organization chart depicts this. Both local and overseas operations fall under one VP while separate Vice Presidents would be looking after the other four domains of the company. The current legal, human relations and procurement Vice Presidents will retire in a few months. Therefore, theses posts have been removed. 2) The revised organization chart shows physical presence of the sales and marketing department in Minnesota, Duluth. This is because the main plants were in Duluth. However the headquarters have been moved to Chicago. If the organization structure should focus on sales, then physical presence at Head Quarters and the main plant is important. This is because the largest numbers of sales take place in Chicago. It is the epi-center of all their revenue, hence major presence in Chicago will prove to be very lucrative for the team. 3) The figure shows a centralized structure in which everything is managed from home. The head quarters are in Minnesota and so are the plants in both Minnesota and Oregon. From here, all departments closely manage the affairs of CLPC’s presence in other States such as Chicago, Denver, Atlanta and NY. It is centralized structure because it now has one State operating as the main center and everything micro-managed from that center only. This means all personnel handling, inventory, fore-casting, and packaging will be centralized. In a decentralized structure, there is no center. All major decisions are taken on the field. In the case of CLPC, all operating activities and decisions that fall under their domains will be taken care of them on the field only as shown in the figure. It is not being operated from a core center. Field work is dispersed according to the presence of the company and its operations country wide. 5) Irwin Buchanan could offer his services as a third-party logistics provider to CLPC. The firm’s logistics handling is scattered at the

International Baccalaureate program of studies Essay Example for Free

International Baccalaureate program of studies Essay It has always been my dream and my desire to complete a higher education and be able to have a strong foundation upon which to build my success. I have many goals in life and, while I sometimes have not known exactly what route I wanted to take for my life, but I always knew that I wanted to be successful and create a place for myself in the world. The International Baccalaureate Program would be the perfect place for me to begin my journey towards becoming a successful professional who can both support herself and create a great life for her family, as well as make an effect on the world around me, beginning with my community. This program would give me the opportunity to begin that journey towards a newer, better future in which I can show the world that just because you have a slow start, doesn’t mean you cannot accomplish a great deal with your life. I have had many struggles throughout my life, particularly in terms of my grades and my studies in high school. Subjects do not always come easy to me, and while I have not always had the highest grade in the class, the grades I have earned I have worked very hard for. I do not feel that any failure, either personally, professionally, or academically, is really a waste, because even when I have made mistakes I have learned a great deal from them and this has allowed me to become a better student and individual. I feel this way because not everyone is perfect or has an easy time of things, and by struggling myself I can better understand and appreciate other people with similar issues. This is why my goal of becoming a social worker or a businesswoman is so important to me. I believe that my background and my ability to overcome so much will make me into a better student in college and a better professional in my future career. I wish to challenge myself to become a better person, and this program would be a great starting place for my future. Whatever I do, I do with my full heart, even if I do not succeed right from the beginning. I am a very artistic person that enjoys exploring my own creativity and looking outside of the box. One of the hobbies that I have taken the most interest in has been drawing, and I have thrown myself into this with a great amount of enthusiasm. My drawing is very important to me as it gives me a creative outlet for all of my hopes, fears, dreams and realities. I also play the flute, and this has taught me discipline and how important it is to see things through to the end. It has always taught me the value of practice and how I can see myself improving through hard work and dedication to something that I am involved in. This can easily carry on to my commitment to this program and all that it has to offer. Overall, my life is improving and I have been becoming a stronger individual because of my struggles in school. I know that now that I have found ways for me to succeed academically I will continue to become a better student and eventually a better professional. With my hard work, dedication, commitment to improvement, and creativity, I would make a strong candidate for admission into the International Baccalaureate Program. I look forward to being a part of your program.

Pick Your Family Essay Example for Free

Pick Your Family Essay The dictionary definition of family is: all the descendants of a common ancestor. Although this statement is true, some would disagree and say that the meaning to the word â€Å"family† goes far beyond that simple definition. Many people consider friends, schoolmates, animals, friends of a parent, and co-workers to be their family as well. Your whole family can be made up of many people that are not necessarily your real family. The relationship you share with another individual classifies them as a family member. These people may not be your relative at all, but someone you feel a strong connection to for one reason or another. Just because someone is your family member by blood, does not mean you have to have a close relationship with him or her. Your family can be extended from your nuclear family because another person may be very special to you, or makes you feel loved enough that you would consider them a part of your family. Children that lose their mother and father might have someone take care of them that are not blood related. In a situation like this, the child’s real family is not apart of the family that raises them and takes care of them. Family is more of a concept and more about the relationship that the two people share. In a case where parents have died or some other circumstance has arisen where they cannot provide for their child, strangers or friends may assist in raising that child. That would make them the caregivers; they would be the mother and father because they fill that role in the child’s life. Many people may say they have two mothers, this is because they have two people that fill the motherly role in their life and both of those people make them feel loved and appreciated. Another example where your family might not be your real relatives is godmothers or your godfathers. Your godmother or godfather can be anyone that your parents think can and will fill that role best. This may be your blood related uncle or the best man in your parents wedding. Regardless of the blood relation this person is in now classified as your family member. Family can also expand to include more than just humans as well. Most Americans have a pet dog or a pet cat that is considered a part of their family. It is very common in a household environment that animals are added to the mix. Whether it is a family of four wanting to add extra love in their lives, or a lonely college student looking for a companion. Many people add a pet into their homes to love and feel love in return. One might think this classifies that animal as a family member. Animals and humans can share a very special relationship, just like family members share. This special relationship is what makes someone or something a part of your family not just blood. Some people may have very special experiences with another individual. Growing up with a particular friend and experiencing many of life’s challenges and tribulations can make a relationship grow very strong. People that have been there for another person through tragedies, deaths, illness, hardships and times of celebration share special bonds. These people may refer to each other as brothers or sisters or second daughters or sons. It is the many experiences and the compassion and empathy that people share with one another that make them feel that closeness with one another. They will often refer to these special people as â€Å"family members†, although they have no blood relation. Many people that are not your real relatives can be more like your family than your real family. There are many reasons that families break up, or do not speak any longer. Death, distance, past arguments and sickness can all be some reasons why you are not close to your blood family. Most people know of someone who may no longer speak to their mother, father, sister, or brother; this kind of thing happens all the time. This is very common after a parent’s death, and the children have to disperse the parent’s valuables. You can’t pick your family, but you can pick your friends. Sometimes those friends treat you better than your own family. They’re a surplus of people that might fill a particular role better than others, and the relationship you share with them is what defines them as your family member.

Changes And Trends Of The Hospitality Industry

Changes And Trends Of The Hospitality Industry In the last few decades, the hospitality industry has gone through many changes. According to Go and Pine, (1995) and Guerrier et al. (1998), changes in the industry are mainly due to the globalization, the changes are mainly due to globalization. Supported by Barrows C.W and Power T. (2009) globalization, in a sense has become old news but with the falling of trade barriers brought on by the North American Free Trade Agreement and the European Community has made borders seem nonexistent. With North America and European countries having a major trading role with other countries, the ease of financial transaction and information is an important step in the restructuring of the hospitality industry. Besides globalization, the growth of multiple ownership of hotels and stronger hotel brandings in the late 90s and early 20s has affected the hospitality industry, especially in organizational structure. (Go and Pine, 1995 Guerrier et al, 1998) Moreover, in this day and time, while those changes are still relevant, there are many other factors that contribute to the ever-changing nature of the hospitality industry. World changing incidents such as the tragic terrorist events in North America, Madrid, London and Bali, the severe acute respiratory syndrome (SARS), hurricane Katrina, the economy downturn, the A (H1N1) influenza pandemic and political tensions of the past decade will have a lasting effect on how the hospitality industry will operate. While there are challenging issues in the past, never has the industry have to face with so many issues at one time. However, in the face of these challenges, the hospitality industry is set to beat expectations on economic recovery with Global Travel Tourism Economy real GDP growth is expected to rise by 2% this year beating the estimate of 0.5%, and thus creating an extra 946,000 job worldwide. (WTTC, 2010) High profile hospitality institutions have gotten together and hosted pa nel discussions and studies on the effects of these tragic incidents on the industry particularly on the terrorist incident of September 11, 2001. Both short term and long term effects are seen on the hospitality industries. These studies have identified different effects ranging from people not travelling for any reason to travelling for important needs and finally to somewhat normal travel patterns of the past. Surely but slowly the patterns will reach normal levels but the question here is when. Trends of the hospitality industry These days as more and more people travel the world be it for pleasure or business, they want somewhere as close to home to feel comfortable. However, there are other people who want otherwise, something different rather than having the same feeling at home, they want a different experience of living style which they can only dream off. (Weissinger, 2000) Therefore, there are many diverse types of hotels that sit under the umbrella definition of hotels. On that note, the front office department is often considered the nerve centre of a hotel and is unchanged in terms of roles to be played. (Bardi, J.A., 2007) According to Vallen and Vallen (2004) front office is defined in terms of role as the first and main contact point between a guest and an operating hotel. Generally the front office activities can include all functions that center around the reception desk and its allied areas. This can be simplified from greeting guests, providing of information, checking in and out, till the m oment they leave the property. Roldan (2004) states that the key to success of a hotel business starts off with the first contact between the guest and the hotel personnel. Being the first contact point, the front office staffs first impression upon a hotel guest is vital; the way they are received and treated can mean repeated patronage in the future. The future professionals of the industry have to analyze who their customers are and what they want. In todays day and age, Bardi J.A., (2010) and Barrows C.W., and Power T., (2009) supports Go and Pine, (1995) and Guerrier et al., (1998) in its changes of factors in the industry and moreover identifies additional aspects such as the different trends of customers that foster growth in the industry, the author says that, the trend towards the increase in leisure time and working less years is one reason behind the growth. The second factor would be the pleasure concept of consumers that was brought forth Barrows C.W., and Power T.,(2009) reinforced by Bardi, J.A.,(2010) stating that the work ethic of the eighteenth and nineteenth centuries have greatly influenced the way Americans play, as recreation and leisure was were considered privileges. With that in mind, in the world today, as the current trend for discretionary income in the emergence of two-way income and family planning is booming, the hospitality industry is changing. Problem Statement The hospitality and tourism industry is an ever-changing industry with new technological advances and trends that comes in waves and then disperses. Hotels being a part of the industry have to adapt and change as well. The hotel front office is one area that has to constantly reorganize with the changes in the industry. In regards to the fluctuating environment of the industry, the industry is still making a comeback, stronger each year. Both the demand and supply for workers are present at state; however, the qualities of these workers are still in question. The high labour turnover experienced in the hospitality industry is common in this day and time and can be due to many factors such as long working hours, low pay, the wide array of job opportunities and many more. In the hospitality industry, especially in the hotel sectors, service is the key to retaining customers (Maxwell, Watson and Quail, 2004) and is what separates competition these hotels from one another. Therefore, it is not a problem to be taken lightly and this study aims to take a look at the people of the workforce itself. Research Questions What are the key skills and attributes needed to be effective in the front office department? Does graduating with a high school certificate, diploma or degree in hotel management make a difference in terms of performing? What are the future prospects of front office employees? What are the intentions of front office employees? What are the natures of front office work? How do the industry players retain its employees? Research Objectives To investigate and analyze the key skills and attributes to be effective in the front office department. To look into the subject of obtaining a high school certificate, diploma or degree in hotel management; does it make a difference? To further gain insight on the future prospects of front office employees. To investigate the intentions of front office employees and what they want. To investigate further the scope of front office work. A research into the whys of employee turnover reasons. With the informed data gathered upon answering said questions on top, the enablement of the hospitality industry players to estimate Hypothesis Human Capital > Internationalization Human capital positively affects the internationalization of an enterprise. Human Capital > Service Innovation Human capital positively affects the innovation of service employees in regards to their work. Internationalization > Performance Internationalization affects the performance of a firm whether it is financially or through guess satisfaction level. Service Innovation > Performance The innovation of the workforce leads to better performance and guest satisfaction. Theoretical / Conceptual Framework The original Degree of Internationalization Entrepreneurial Orientation Performance Service Innovation Human Capital The original framework was built for professional service firms especially small and medium enterprises (SME) (Radulovich, 2008). It was constructed to relate a service firms entrepreneurial orientation, human capital, the firms degree of internationalization, service innovation, and performance. This framework was constructed upon thoroughly examining in the aforementioned areas above. Adapted Framework Degree of Internationalization Human Capital Performance Service Innovation Skills and training (Human Capital) > Internationalization and Service Innovation > Effective workforce > Guest Satisfaction and Performance This framework has been adapted and changed accordingly to fit into the hospitality industrys index. The core conceptual framework is unchanged with the exception of excluding the Entrepreneurial Orientation aspect which is highly unlikely to affect the core concept and theory that is to be explained. As changes are made, Human Capital will now be the core driving force. Hypothesis Related to Human Capital and Degree of Internationalization In a study done by (Hitt, et al, 2006) concludes that human capital is a primary resource contributor to professional service international expansion. The theory here is that a firms degree of internationalization is closely related to the human capital of the organization. Key factors identified as contributing factors are knowledge (Autio Sapienza Almeida, 2000) and also top management characteristics (Bloodgood, Sapienza Almeida, 1996). This study also identified that the characteristics and experience of the top management team relates positively to the internationalization of an organization. Another more recent study also proves that there is empirical study which shows support for human capital resources as influencing degree of internationalization. (Hitt, Bierman, Uhlenbruck, Shimizu, 2006) Therefore it can be concluded that there is positive influence of human capital professional service towards the internationalization. Hypothesis Related to Human Capital and Service Innovation Human resources can be defined as interpersonal and business skills and is proven that there is a positive effect on a firms innovation strategies. In a study done in the US, human capital at both the individual and firm level is identified as a positive effect on service innovations (Zhou, 2007). Shane (2000) also recorded that prior knowledge affects an individual ability to perceive new opportunities and to contribute innovative solutions. To support this theory, an in-depth study was done with 8 firms conducting a study on examining innovation and opportunity recognition and is reported that prior experience affected their ability to perceive opportunities and innovate. (Edelman, Brush, Manolova, 2005). Furthermore, the prior knowledge and specialized knowledge of the internal human resources are significant contributors to the innovation of work speed and competition level as recorded in Taiwanese high-tech ventures. (Wu, Wang, Chen, Pan, 2008) Hypothesis Related to Degree of Internationalization and Performance Studies relating the degree of internationalization and performance are not new and there is empirical evidence to support this theory which positively affects a firms performance (Bloodgood, Sapienza, Almeida, 1996; Delios Beamish, 1999; Grant 1987; Hitt, Hoskisson, Kim, 1997). Studies also show that as a new venture firm gets into the international markets earlier gains better advantages over their competitors and improved performance. (Brock, Yaffe, Dembovsky, 2006). In the view of hospitality terms, a brand name can be created upon trust and loyalty which is an important factor for continuous visits. Hypothesis Related to Service Innovation and Performance Service innovation on service performance has been theoretically and empirically confirmed with studies done in recent years. It is confirmed that in differing context of globalization that innovation still improves performance of a firm. Zhou, Yin and Tse (2005) have documented this relationship in their study done in the emerging market of China. As China is a transitioning and developing market, it is only comparable to the market of Malaysia. The comparison of the effects of China to the economy of Hong Kong found that innovation plays a major role in both these markets. (Luk, Yau, Sin, Tse, Chow, Lee, 2008) Scope / Limitations Scope: In this study, the author has chosen to conduct the research in all 5 star hotels in the area of the city of Kuala Lumpur. This scope will help dictate and represent city hotels in Malaysia as it is busiest all year round, and the job scopes of the hotels are wide enough to obtain data. On a deeper level, a survey will be conducted to all front office staff (e.g. Front office attendant, bellboy, front office accountant, etc) in order to obtain information. Limitations: As for limitations, time restraints and resource limitations would be the biggest factor. As the author would only have approximately 6 months to collect and analyze the data, the depth of the research may not be too detailed. Besides that, there will be a limit to research options available to the author due to insufficient knowledge on research ways and as this will be the first research paper done by the author. Notwithstanding, being a student, there will be limitations in terms of access to data because of monetary issues and outlets to gain information in the industry. Significance of Study This research paper intends to analyze the different behavioural needs and wants of the front office workforce. By gathering the work backgrounds, studying the motivation factors and the intentions of this group, a better and effective workforce can be established to be in line with the transitioning aspect of the industry. Ongoing research is a must in this area because of the ever-changing prospects of the Hospitality and Tourism Industry, especially the front office department. Key skills and attributes are to be identified as a benchmark for structure when hiring by the Human Resource department. This paper would be a guideline for the hotel industry players to attain information on the behaviour of front office staff and their intentions for the future. Employing and constantly motivating a workforce is one of the hardest things to keep up in any industry. Without proper information on the behaviour and the intentions of the workforce, being in a labour intensive workforce and s ervice oriented industry, there surely will be a loss in terms of customer satisfaction and the profits of a hotel and this is unacceptable. Chapter 2 Literature Review Hospitality Skills and Nature of Hotel Front Office Work Jobs commonly retain a low-skill character, especially in the fastest-growing sectors Bradley et al (2002) (p.129) The hospitality sector is growing with a tremendous rate, especially in East Asia and the Pacific, Asia, the Middle East and Africa. These areas are forecasted to show a rate of 5% growth each year and 4.1% in Europe and Americas. (WTO, 2010) There has been long standing debate over the skills and nature of the front office work. It is widely characterised in both academic and popular press as a low-skilled job dominated by low skills profile. (Wood, 1997) In support of this theory, Shaw Williams (1994) first claimed that the hospitality industry workforce were uneducated, unmotivated, untrained, unskilled and unproductive (p. 142). Upon further research, the nature of front office work revealed by one side is in terms un-unique (Mullins, 1981; Lashley Morrison, 2000). Mullins and Lashley argue that the technical skills of the hospitality sector have relevance and can be applied to other sectors of the economy. Another dimension of why there is the public perception that the hospit ality industry is regarded as low skilled is because there are no real prerequisite for employment in terms of qualification (Huddlestone and Hirst, 2004). As far as the research of Baum Devine (2007) and Baum (2007) goes the educational attainment of a person is not an influencing factor to undertake the front office job. In terms of front office, the industry has considerable cross-over work of other sectors such as office administration, accounting, and IT systems management, these generic skills tend to overlap each other. In this argument, where is the uniqueness of work skill? By any means the hospitality industry is just borrowing a number of skill forces from different industries, in this case with a lower pay wage and a lower career development opportunity. This theory of unskilled labour in the hospitality industry does not go uncontested, in the forthcoming years after the thesis (Baum, 1996, 2002). Baum questions the validity of hospitality work as a low skilled job universally based solely upon the assumption of westernized, international hospitality work. It may be perceived so in general, but it is not applicable in the developing world whereby the technical demands and skills are lower than those of the developed countries. Another such example of a considerable contest comes from Burns (1997), Burns categorizes the labour force into two, skilled and the unskilled. Burns uses a very distinctive definition of skills in the hospitality for this saying: the different sectors that comprise tourism-as-industry take different approaches to the human resources, and that some of these differencesare due to whether or not the employees have a history of being organized (either in terms of trade unions or staff associations with formalised communication procedures. (p.240) Both these factors are separated by manpower planning paradigns for the manufacturing sector and as for the workforce, it comes in traditional power, organization. The workforce takes control through the use of trade unions and control the supply of labour through apprenticeship and training. Contributing factors worth noting are factors put forth by Seymour (2000) and Warhurst et al (2000), gives an added dimension to the work of hospitality employees. Seymour adds in emotional labour arguing that the added management of emotions as part of the day to day job is the difference between working in fast food as opposed to traditional areas of service work. The added emotional labour is there for the benefit of guest experience and that they are paid to do it. In Baum T. (2007), it is further perceived that there is the need for emotional intelligence (EQ) as defined by Goleman (1998) . . . the capacity for recognizing our own feelings and those of others, for motivating ourselves, and for managing emotions well in ourselves and in our relationships. (p. 317). Explained by Warhurst et al. (2000) and Witz et al. (2003) the added aesthetic labour to the tools of trade is indeed of importance to the hospitality workers, especially to front office staff. In describing aesthetic labour it is the skill required to look, sound and behave in a manner that is required for the job while meeting the expectations of the customers. They have to demonstrate the ability to engage in different aspects with the customers such as cultural, social, and economical matters. This on hand requires a certain level of education to be obtained. What industry wants: employers preferences for training. In the industry, while representatives state that they prefer industry skills and experience above education skills and knowledge, it is only realistic that a mixture of both these qualities are required, which is lacking in the workforce. (Smith Kemmis, 2010). In the hospitality industry most of the training is informal. Only a small portion (14%) of employees has gone through higher education in the respective industry. ( 2-1) The other 86% comes from the private sector and employer training in the industry. It was found out in a study that the National Vocational Qualification curriculum, found out that training in higher educational institutes would not cut it in the industry. (People1st,2009) In the same interview, two interviewees stated that on-the-job training is particularly the way to go in an industry that is interaction based in order for skill development. The focus on experience and skill over education is proved in a study done. vocational education and training (VET) practitioners Both industry groups felt that the most important skills and knowledge for trainers to possess were related to industry rather than education There was a lack of tradition of training in the industries compared with other industries, with relatively new qualifications for most jobs, and managers in the industries were underqualified , meaning it was difficult for them to drive high standards in training. Given these circumstances it is perhaps surprising not that training for the service industries exhibits many challenges, but that it does the job as well as it does. This observation was supported by hospitality employers who acknowledged the difficulties faced particularly by TAFE teachers, and were very ready to make excuses on their behalf. The recession, as in Australia, had provided opportunities for cross-fertilisation among industries as people lost their jobs in one sector and looked to move into other work where the skill set was similar (People1st, 2009). The standard of service in both industries was felt to be lower than required (especially in a situation where customer expectations were continually rising), with both industries also reporting a need for improved management skills. The hospitality industry had a skill shortage in chefs (People1st, 2009). Customer service is paramount in these industries; Maxwell, Watson and Quail (2004, p. 159) point out that for hospitality the customer reigns supreme, and Huddlestone and Hirst (2004, p. 6), for retail, state customer service is becoming the most essential employee skill. In a study of training in the Hilton chain, Maxwell et al. (2004, p. 269) note that a service culture is deeply imbued in organisational structures and practices, and cannot be added on simply by training individual staff. Chapter 3 Research Design and Methodology 3.1 Overview In this chapter of the sample proposal, an explanation on the research methodology and design is written. In the first part of Chapter 3, there will be a brief introduction on the purpose, aims and objectives and benefits of the study. Following that will be a discussion on the research design of the study. Exploratory details such as the population, sample and sampling procedures are discussed. On the third section of the chapter, there will be added explanation on the data collection procedures and data analysis steps. A brief explanation on the questionnaires will be given to give an insight on the questions asked. 3.2 Introduction The purpose of this study is to illustrate the current behaviour conditions of the front office. The information gathered will compose of the nature of front office work, education attainment level, skills, work background, attitudes towards the area of work and plans for the future. By analyzing these areas and acquired from these group of people in the hospitality industry will enable the industry players such as managers, policy and decision makers to get a more personal insight look at the wants, needs and future perspectives of these in demand people. Appropriate changes and more effective strategies in regards to high satisfaction levels can be developed and be used in the industry to decrease labour turnover and low level performances. 3.3 Research Design Population The study is intended to collect data on one of the most important workforce in the hospitality industry; the front office workers. The population of the survey intended will be Front Office workers in the area of Kuala Lumpur. Sample The sample population identified in the survey goes by the different distinct areas of Kuala Lumpur (Table 1). The sampling method that will be used is Cluster sampling. Having already divided them into different location categories, the target sample is then identified as the front office workforce in hotels. Name of Hotel Area/Location JW Marriot Hotel Bukit Bintang Park Royal Kuala Lumpur Bukit Bintang The Ritz Carlton Kuala Lumpur Bukit Bintang The Westin Kuala Lumpur Bukit Bintang Sheraton Imperial Kuala Lumpur Golden Triangle Hilton Kuala Lumpur KL Sentral Le Meridien Kuala Lumpur KL Sentral Ascott Kuala Lumpur KLCC Crowne Plaza Mutiara Kuala Lumpur KLCC Hotel Maya Kuala Lumpur KLCC Hotel Nikko Kuala Lumpur KLCC Mandarin Oriental Kuala Lumpur KLCC Micasa All Suite Hotel KLCC Pacific Regency Hotel Suites Kuala Lumpur KLCC Prince Hotel and Residence KLCC Renaissance Kuala Lumpur Hotel KLCC Shangri-La Hotel Kuala Lumpur KLCC The Gardens Hotel and Residances Mid Valley Palace of the Golden Horses Mines Grand Dorsett Subang Hotel Petaling Jaya Holiday Villa Subang Petaling Jaya Sunway Resort Hotel and Spa Petaling Jaya The Saujana Kuala Lumpur Petaling Jaya Table 1 For this study, a survey will be carried out on all the 5 star hotels in the city of Kuala Lumpur. On identifying the 5 star hotels located around Kuala Lumpur, the works of KL-Hotels.com were used. This will be verified again by Upon identifying the sample population, a sample frame will be created to categorize the hotels into different location categories for the enablement of easier data managing. An invitation will then be sent out to the General Managers of each selected hotel for approval on participating with the survey. Upon approval, the questionnaires will be distributed among the front office staff of the hotels. 3.4 Data Collection Procedure Primary data The data collected from the questionnaire will be the main source of primary data. Secondary data much research has been done regarding the effectiveness of a workforce and how to improve. These sources are highly resourceful and will come in helpful when data analysis is been done. The theories and conclusions can be used to support and disregard some of the findings in this study. The secondary data may come from a number of literature forms such as journal articles, textbooks and written experiences. A formal proposal will be sent out to the General Managers of each of the selected hotels to ensure participation in the survey. Upon approval, the identification of all front office staff is indentified and recorded. As per identifying all the front office workers (night auditors, concierge, bellboy, front office assistant, etc) in the selected hotels, the questionnaire will then be distributed electronically to the head of the front office department; Front Office Manager. After the questionnaire is finished, the questionnaires should be collected and given back for data analysis. The data received will then be analyzed with the help of the SPSS data software. With the help of the SPSS program, bias answers and unreliable answers can be disregarded. As the data is sorted out and conclusions are done, comparisons will be done to reaffirm findings or to oppose them. 3.5 Questionnaire Design The goal of the questionnaire is to collect data from within the front office department. To achieve this, questions pertaining to the nature of the job, the work background, intentions for the future and key skills and attributes will all be posted. In regards to explaining the structure of the questionnaire in sections, there will be 4 sections. The first section of the questionnaire will be in regards to personal details. The second part of the questionnaire will be closed ended questions with choices to choose from. This part of the questionnaire is to get a response from the employees regarding their views on the hospitality industry. The third section of the questionnaire will be about the nature of the front office work, and also to get an inner look to their needs and wants. The fourth and final section is designed to completely give freedom to the respondents with open-ended questions regarding their views on management levels and their thoughts on training and skills in the industry.

Power of Art, Creativity, and Imagination in Children’s Literature Essa

Power of Art, Creativity, and Imagination in Children’s Literature â€Å"Imagination is the true magic carpet ride,† as Norman Vincent Peale once said. Indeed this proves to be true in Crockett Johnson’s, Harold and the Purple Crayon, when Harold, a small boy with a large imagination, creates his world using a purple crayon. Also, Leo Lionni uses a mouse named Fredrick to capture â€Å"colors† and â€Å"sunrays† in his Caldecott winning book Fredrick. However, imagination is not the only tool utilized in these books; art, and the power found in creativity are equally stressed. Also, while both books contain these three elements they address them in different ways. Both Harold and the Purple Crayon and Fredrick illustrate art as a medium for imagination and power; however, Fredrick emphasizes the effect of art on the community while Harold plays with his purple crayon seeing it a source for his own entertainment. Fredrick, a small field mouse, comes from the well spring of Leo Lionni’s mind to symbolize the impact art and imagination has on the community. Fredrick, unlike the rest of ...

Different Learning Styles Essay -- Teaching Education Research papers

Different Learning Styles Introduction What is learning? According to the thesaurus in the Eric database, learning is the â€Å"process of acquiring knowledge, attitudes, or skills from study, instruction, or experience† (Eric/Thesaurus database, 2001). A learning style is described as â€Å"a set of factors, behaviors and attitudes that facilitate learning for and individual in a given situation† (Reiff, 1992, p.7). There are many different ways that children learn. The purpose of this paper is to explain the different learning styles that students may possess and to discuss the importance of planning a lesson that includes different techniques to meet the needs of individual learners. These different learning styles may include the show and tellers, seer and feelers, leader of the packs, verbal gymnasts, wandering wonderers, and movers and groovers (WEAC, 2001). The different learning styles possessed by the student can be affected by the theory of multiple intelligences. According to this theory there are 8 different ways to learn including learning through techniques like logical/mathematical, verbal/linguistic, bodily/kinesthetic, interpersonal, musical, intrapersonal, special, and naturalist (Silver, 2000). Show and Tellers I searched through many books and articles about different learning styles and found one that really got my attention. On the WEAC web site I found a page called â€Å"A symphony of learning styles.† On this page I found six learning styles. The first is the â€Å"Show and tellers† These are learners that like to read and write. They love to make up stories just to share with their friends. These learners love to recall stories that happened to them in the past. They love to share their thoughts with... ...detail. It showed every aspect and how to apply them to your classroom. Silver, H., Strong, R., Perini, M. (2000) So each may learn: Integrating learning styles and multiple intelligences. Alexandria: Association for Supervision and Curriculum Development. I found this book very helpful because it gives you tons of examples of how to put the theories into action in your classroom. Wood, F., Ford, N., Miller, D., Sobczyk, G., & Duffin, R. (1996). Information skills, searching behavior and cognitive styles for student-centered learning: a computer-assisted learning approach. Journal of information science,22. (2), 79-92. This journal was about a study done on students with different learning styles to see if it would affect their approach to research. http://www.schoolicons.com/eng/web/icons/icon2_e.html This is where I retrieved all of my graphics.