Majority Language - Definition and Examples

Majority Language s A majority language is the language thats usually spoken by a majority of the population in a country or in a region of a country. In a multilingual society, the majority language is generally considered the high-status language. It is also called the dominant language or killer language, in contrast with minority language. As Dr. Lenore Grenoble points out in the Concise Encyclopedia of Languages of the World (2009), The respective terms majority and minority for Languages A and B are not always accurate; speakers of Language B may be numerically greater but in a disadvantaged social or economic position which makes the use of the language of wider communication attractive. Examples and Observations [P]ublic institutions in the most powerful Western nations, the U.K., the United States, France, and Germany, have been monolingual for over a century or more with no significant movement toward challenging the hegemonic position of the majority language. Immigrants have not generally challenged the hegemony of these nations and have usually assimilated rapidly, and none of these countries has faced the linguistic challenges of Belgium, Spain, Canada, or Switzerland. (S. Romaine, Language Policy in Multinational Educational Contexts. Concise Encyclopedia of Pragmatics, ed. by Jacob L. Mey. Elsevier, 2009) From Cornish (Minority Language) to English (Majority Language) Cornish was formerly spoken by thousands of people in Cornwall [England], but the community of Cornish speakers did not succeed in maintaining its language under the pressure of English, the prestigious majority language and national language. To put it differently: the Cornish community shifted from Cornish to English (cf. Pool, 1982). Such a process seems to be going on in many bilingual communities. More and more speakers use the majority language in domains where they formerly spoke the minority tongue. They adopt the majority language as their regular vehicle of communication, often mainly because they expect that speaking the language gives better chances for upward mobility and economic success. (Renà © Appel and Pieter Muysken, Language Contact and Bilingualism. Edward Arnold, 1987) Code-Switching: The We-Code and the They-Code The tendency is for the ethnically specific, minority language to be regarded as the we code and become associated with in-group and informal activities, and for the majority language to serve as the they code associated with more formal, stiffer and less personal out-group relations. (John Gumperz, Discourse Strategies. Cambridge University Press, 1982) Colin Baker on Elective and Circumstantial Bilingualism Elective bilingualism is a characteristic of individuals who choose to learn a language, for example in the classroom (Valdà ©s, 2003). Elective bilinguals typically come from majority language groups (e.g. English-speaking North Americans who learn French or Arabic). They add a second language without losing their first language. Circumstantial bilinguals learn another language to function effectively because of their circumstances (e.g. as immigrants). Their first language is insufficient to meet their educational, political and employment requirements, and the communicative needs of the society in which they are placed. Circumstantial bilinguals are groups of individuals who must become bilingual to operate in the majority language society that surrounds them. Consequently, their first language is in danger of being replaced by the second language- subtractive context. The difference between elective and circumstantial bilingualism is important because it immediately locates diff erences of prestige and status, politics and power among bilinguals. (Colin Baker, Foundations of Bilingual Education and Bilingualism, 5th ed. Multilingual Matters, 2011) [U]ntil recently, bilinguals have often been wrongly portrayed negatively (e.g. as having a split identity, or cognitive deficits). Part of this is political (e.g. prejudice against immigrants; majority language groups asserting their greater power, status and economic ascendancy; those in power wanting social and political cohesion around monolingualism and monoculturism).However, the portrayal of bilinguals varies internationally. In some countries (e.g. India, parts of Africa and Asia), it is normal and expected to be multilingual (e.g. in a national language, an international language and one or more local languages). In other countries, bilinguals are typically immigrants and seen as causing economic, social and cultural challenges to the dominant majority. . . . With both immigrant and indigenous minorities, the term minority is decreasingly defined in terms of smaller numbers in the population and increasingly as a language of low prestige and low in power relative to the majo rity language. (Colin Baker, Bilingualism and Multilingualism. The Linguistics Encyclopedia, 2nd ed., edited by Kirsten Malmkjaer. Routledge, 2004)

Customer Insight Research Paper

Customer Insight Research Paper Customer Insight Research Paper Introduction The aim of the interview of the interview was to find out some of the factors that motivate customers to choose online shopping and the factors that motivate other customers to opt for off-line sopping. The interview also sought to know and to establish the behavior patterns between the two groups of consumers, online and off-line shoppers. In the interview, customers started by identifying themselves either as online or offline shoppers, after which the interviewer asked them to describe the main reasons that motivate their mode of purchase, as well as their purchase patterns. The main reason of choosing questions aimed at identifying the motivation factors was to find out the differences between the two groups. For instance, a question such as; â€Å"why do you choose to buy products online?† was included in the interview questions because it gives the customer an opportunity to give a direct response that would give the interviewer a clear understanding of some of the factors. Analysis of Results The results of the online shoppers indicated that 45 percent of people in a highly competitive business environment would get out of the shops and make online payments at a discount of 2.5 percent. This shows that customers opting for online shopping and payment are enticed by the low price offers that retailers and wholesalers provide for such payments. The percentage increases to 60 percent for those customers who choose online shopping after getting a discount as high as 5 percent for all the purchases they make. Similarly, when retailers offer high discount rates which may reach 20 percent, only 13 percent of shoppers remain in selling stores to complete their purchases. These results are substantial evidence that online discounts are a motivating factor that influences the customers’ decision to purchase goods online. The survey also found out that the most common products bought online are electronics such as TVs, movies game items, laptops and audio equipment. However, many online shoppers showed little concern for home appliances such as fryers, kettles and vacuum cleaners. During the interview, the results also showed that show- rooming behavior is also significant feature that leaves many mortar and brick sellers with few offline customers. Many online customers reveled that show-rooming is anew habit that gives them an opportunity to compare prices from one store to another, just by the use of their mobile phones. Online customers also mentioned carrying out price comparisons from one in-store to another is more expensive compared to online stores. Online customers have changed their shopping to use the in-store premises as a step in their purchase processes, and not as the final point. Consumers decide to shop their household products because of instrumental reasons to achieve certain goals and because of experiential motives (Arnould Wallendorf, 1994, pp 486). However, in the interview, goal oriented customers tend to more common than experiential and instrumental oriented customers. Based on the interview, the interviewers employed 5 online and 5 offline groups and many online customers attributed their behavior to availability of information about the product, wide range of products and the opportunity to avoid unwanted contacts such as spouses or sales agents in the retail premises. The goal oriented online shopping gives rise to experiences that are too involving for customers (Batra Ahtola, 1999, pp 167), but which leads to little commitment to the buyers. Customers indicated that they buy online when they want, and have the convenience to abandon the shopping cart when they feel the products on sale are not pleasant. Whereas some customers ware more likely to explain their offline shopping rather than online shopping in experiential purposes, there was more experiential motivation for customers who choose to shop online than the offline shoppers. On the other hand, offline shoppers attribute their motivation to the social aspect and experiential benefits associated with visits to retail and wholesale in-stores. Many of these buyers describe online shopping as never enjoyable and sociable. They also described their liking for offline shopping as an opportunity to ask for a lot of information about the products they purchase. Others claimed that in- store purchases offers after sales services that many online stores were found to be lacking. Because of information security reasons (Citrin, Sprott, Silverman Stem, 2000, pp 298), some offline shoppers did indicate lack of trust that their card numbers and identification documents were safe if used to pay for goods online. A good number of off-line shoppers also indicated that the opportunity to bargain for good commodity prices motivates them to make purchases from in-store retailers since it enables them to save a lot of money. Another factor given by the offline shoppers for the dislike of online shopping is the difficulty experienced when inspecting a product or service that retailers sell online. This is attributed to internet shortcomings that do not enable a customer to employ other senses such a touch or taste, and consumers have to rely only on sight. Other offline customers dislike online shopping because of the fact that they have to wait for the product delivery, especially in cases of overseas shopping. Risks such as pilferage, perishable products and damage during transportation highly discourage some customers from shopping online (Chen Tan, 2004, pp 78). In this group of shoppers, the psychological risks are perceived to be more demotivating than even the financial risks. Thus, any initiatives by retailers to offer discounts on online goods and series does not some offline shoppers to change their shopping decisions. Customer behavior literature According to Foucault and Scheufele (2002, pp 411), in a study involving 1000 customers in the US, researchers used multiple hypothetical scenarios of showrooms of ten items with different prices to find out the behavior of online customers. The results showed that 44 percent of online customers used mobile phones to influence their purchase choices when purchasing goods online. The researchers also found out that when the price difference between the online and in-store products is more than 5 dollars, customers showed a preference for the online products. This is similar to the views given by online customers in the interviews conducted to understand consumer behavior for online shoppers. The US research further profiled their customers based on age and gender, and the outcome of the study indicated that young female shoppers made online purchases more frequently than any other age bracket. On the other hand, old male shoppers whose minimum age is 50 years came out as the group of shoppers who were easily swayed to make purchases offline in retail stores. Other customers who happened to get advice from sales agents were 12.5 percent likely to make purchases offline. The results of this study are similar to the outcome of the interviews conducted in the group survey, since many of the choices that a majority of shoppers made are similar in motive and influence. According to Wachman (2012, pp 14), people spent nearly 8 billion US dollars in December 2011 on goods bought 0onine despite the difficulty shopping experiences that are usually associated with the month of December. According to the Capgemini research, a business consultancy organization, people spent remarkable 68 billion US dollars online in the year 2011. This is an indication that the number f online shoppers is ever growing as people move from the conventional culture of in-store purchases. According to Graham (2012), in UK, online purchases account for 17 percent of the total retail business, and this predicted to increase with the growth in mobile technology. The number of retailers launching online stores is also growing at a remarkable rate. Other literature sources indicate that utilitarian or goal oriented shopping is understood to be rational, deliberate and efficient (Kelly, 1998, pp 45). Therefore, the online search provides the medium for this task because the costs associated with dramatically lower than in in-store search. Moreover, some shoppers prefer to carry out efficient searches on the online stores with remarkably few clicks of the computer to obtain the details they need. In line with the objectives of goal oriented online search, shoppers who employ internet services in their purchase tasks end up saving a lot of time. According to Modahl (2000, pp 67), some customers do not perceive online purchases to be shopping; rather they perceive it to be a â€Å"buying† experience. As well, other online shoppers believe that they only decide to buy products online when they are convinced that they need the particular product, which further describes online shopping to be attracting a majority of customers who have a planned activity. Some online shopping surveys indicated that offline shoppers are more impulsive than online shoppers, because of limited accessibility and convenience and the influence by sales people in retail stores. Unlike online shopping (Rayport, Sviokla, 1999, pp 89), offline shoppers are proud of the personal associations they establish with business owners, which can help them build loyalty. Such loyal customers have the advantage of accessing goods on credit, or on hire purchase agreements, a feature that online shoppers are denied. Other customers who enjoy using senses beyond the sense of sight are well placed to fulfill their pleasure by shopping online since in- store commodities provide them with the opportunity to touch, feel, smell or even taste some of the goods before they pay form them. As observed in the analysis of results in the section above, this was one of the reason some customers prefer getting goods from an in-store retail, as opposed to online stores. Some businesses perceive offline shopping to be appropriate over online shopping because it helps them manage the products that customers buy. For instance, as much a restaurant can employ online advertisement services, it cannot manage to serve its clients online (To, Liao Lin, 2007, pp 778). Similarly, an auto dealer may not be effective by leasing a car online, because of security and lease agreement procedures and requirements. Marketing strategy and recommendations In order to reap from the changes in consumer behavior, retailers have to be keen when designing their marketing techniques. A lot of focus should be on the provision of goods based on location and population features. As observed in the analysis of results, young female shoppers are most likely to spend more money shopping online than older male who are easily swayed by sales agents. Thus products which female consumers need to be marketed or sold online, while products meant for the old generation can be kept in in-retail premises. Many brands sold to the middle and low market ends continue to report poor sales results, while luxurious products that target high end customers are continuing to generate profits. This scenario is partly attributed to the spending behavior of consumers spending [patterns whereby middle and low income consumers are squeezed by inflation, while the wealthy are continuing to earn goo d income. In order to cope up with these market changes, retailers and wholesalers have to employ a wide range of marketing strategies that target each group of consumers in the market. E-retail business activities remain a significant component of the broad retail trend (Spiggle, 1994, pp 498), and marketers have to incorporate it in all the strategic company plans. Despite the reduction in consumers’ disposable income, online shopping continues to record impressive sales growth every year. In order to motivate a number of offline shoppers who are demotivated to shop online by psychological factors, retailers and companies need to implement appropriate initiatives that address the psychological concerns of such customers. Online grocery businesses are in the most sophisticated field, and to make the business efficient, they can give consumers the chance to choose the nearest collection and deliver points that enable consumers to access the products in reasonable time. Availability of storage facilities and frozen food is also a technique to see business people benefit from online ventures. It is worth noting that dealing with consumable goods such as drinks vegetables or fruits need a high standard of hygiene; thus, retailers need to ascertain the hygiene levels of the agents they appoint to distribute goods on the retailers’ behalf. By putting in place measures to encourage online shoppers develop loyalty in commodities and brands, organizations and companies need to incorporate information security protocols that will assure buyers of the safety of their bank accounts, and the need to trust the websites. Once customers are convinced that their details are safe, retailers will be able to provide for the needs of customers in order to attract other buyers.

PROPERTY ECONOMICS Essay Example | Topics and Well Written Essays - 2000 words

PROPERTY ECONOMICS - Essay Example The report establishes that there a number of micro and macro economic factors strongly account for rental volatility in the non-residential property market. These factors ranged from changes in the demand and supply for commercial property, the level of industrialization, interest rates, and government policy on economic and regional development. This report about rental volatility in the commercial property market is divided into four sections. The first section would look at the cyclical movements in rental volatility, resulting from the interaction of the micro and macro economics factors, as well as government policy on economic and regional development. The second section would make an investigative view on why this rental volatility has witnessed marked variations on a regional basis. Then the third section would give an outline of the extent to which government planning has influenced rental volatility in the commercial property market. Subsequently, the role of government and council reforms in determining the frequency and extent of rental volatility would be examined in the fourth section. Finally, there would be a section for conclusion on the trend of rental volatility in the commercial property market. Ball et al (2002) hold that the commercial property markets consist of thousands of parcels of l... This makes it difficult for a property to be a perfect substitute of the other. In the context of property economics, Jackson and Watkins (2007) opine that rent refers to the price mechanism that balances the demand and supply property to achieve equilibrium in four interlinked markets: the user market, the development market, the financial asset market, and the land market. The volatility cycle would now be viewed in the above ways. They further argue that in the user market, the payments a firm makes in order to use a given amount of commercial property for a particular time period is called building rent. It acts as the key signal to agents active in the market, and, through its rises and falls, clears these markets by equating the quantity supplied with that demanded. According to Ball et al (2002), rent volatility in the property market can best be explained using the DiPasquale and Wheaton framework. The equation, according to Dobson and Goddard (1992), maintains that property rents are a function of industrial investment in leasing or buying or new property, the floor space and geographical location. This means that the higher the rate of industrial investment, the higher would be the demand for commercial property. This would certainly drive up the price of property without any certainty in the supply. A look at the demand and supply curve would help clarify this scenario. Market forces on the demand and supply of property Price D1 D2 S P2 P1 Q1 Q2 Property demanded/supplied For instance, the above diagram shows a typical situation in an increase in the demand for property. In the diagram, there is

Consumer Cultures, Environmental Futures Essay Example | Topics and Well Written Essays - 1750 words - 1

Consumer Cultures, Environmental Futures - Essay Example Catfish is one of the types of fish that people consume, which differentiate the consumers along different lines of the economy, society and political differences. Through this differentiation, people have different perspectives of looking at the catfish both from the perspective they may have from the influence they have from their culture and social ties. The analysis of production and consumption of catfish will help in explaining the various reasons that make it a consumer product of a specific group of people within a society, which may mean a lot of structure formulation within a society. The analysis focuses on the sources of catfish and the places in which it is a common form of food while in some others; it could be a rare commodity (Tucker and Hargreaves, 2004, p.27). Catfish are popularly produced in different places in the world as one of the small-fish that people consume as food for their own and which they sell to a few people around their environment. However, researc h shows that production of small-fish in sector of fishing is an aquaculture that usually target different people who fall in the low economic classes in the society. In the economy, consumption of these small-fish is therefore, related to specific people in the country who could be a having similar general characteristic (Tucker and Hargreaves, 2004, p.39). Catfish is mostly common among the Vietnamese who invest in production of the organisms for food in different place in both large-scale and small-scale levels of the economy. This production is facilitated by the demand that is raised for the food that that has some contents of fish and the different levels of production of catfish through the aquaculture technology implies the different demanding issues that surround food fish production within the society. In this respect, when food fish demand increases, people have adopted various ways through which they can improve the amount of products they obtain from their investment. I n the Vietnamese culture, fish are highly regarded and therefore, people adopt aquaculture in order to meet the local demands as well as the needs of others that are away from the country. In the aquaculture for production of the catfish species of the fish, there are different factors that favour the production in the area, which motivate people to invest in the production as a mode of subsistence or as a commercial activity. In order to produce, people depend on different opportunities that the environment offers, which help people to exploit it for their benefit. In this respect, people have different ways through which they produce the catfish to the different market in Vietnam or away from the country. The most common factors that are important in determining the production of the catfish include the sources of water where the fish will grow, the availability of fingerlings that grow to be the mature catfish and the space that is available for people in to establish their produ ction and the aquaculture. In most cases, people who invest in aquaculture try to establish their production by varying the conditions in the condition of the environment to allow the production even in places that are not very favourable for production. This aquaculture in

The Contemporary American Dream Essay Example | Topics and Well Written Essays - 1000 words

The Contemporary American Dream - Essay Example The development of suburbia ‘starts’ with a farewell to Rosie Riveter as transition from World War II to the suburbs of the 1950s. The female factory worker needed to be sucked back into the home to make way in the factories for the returning soldiers. This is brilliantly portrayed through the innovation of the television set, which played a large role in reinforcing to women the concept that their proper roles were those of wife and mother. Rosie is sucked into the screen, losing her wrench while the well-manicured lawns and white orderly house fronts of the suburbs can be seen below her as she is overwhelmed by the messages of TV advertisements and popular shows such as Leave it to Beaver. To be sure this point isn’t lost by the mural viewer, the stereotypical white suburban family can be seen standing behind the television. The rows of suburban houses are divided in the middle by a column of moving trucks, presumably bringing more blonde, blue-eyed suburban per fect families away from the distant city to the white-washed neighborhoods. Finally, a deep ditch separates these perfect neighborhoods from the poor, rural black people that pass by heading in the opposite direction in broken down cars and on bare feet heading into the city. They are allowed to look, but not to stop or stay. While the American Dream is being defined for and realized by the white people, the only hope of achieving it for the black people is to head into the inner city slums in the hopes of finding work.

Company Act 2013 Analysis

Company Act 2013 Analysis Introduction The awaited new company Act 2013 has replaced the 1956 Act with prime objective to counter the present day challenges and in line with rapid developments, integrations, globalisation of financial markets and growing economy of the world by Lok sabha on 18 Dec 12 and in Rajya sabha on 08 Aug 13, has been received Hon’ble president assent on 29 Aug 13. The new act emphasized changes and improvised governance structure business-friendly corporate regulations, modification of e-management, enforcement, share holder protection, enhanced accountability, improved institutional structure, enhanced disclosure norms, efficient merger acquision, introduce the role of whistle blowers, one Person Company, and corporate social responsibility (CSR) changes. The Companies Act, 2013 not only simplifies the mergers, acquisitions and restructuring process but also modifying the previous constraint, regulatory body like National Company Law Tribunal (NCLT)and facilitates an effective impact on w orld business environment. This paper is analysis of the Company Act 2013 regarding modification and new initiative taken in the field of MA framework and trying to prove that the new MA structure is in line with global context and in improving the efficiency and smoothness of doing business in India. Objectives The prime objective of this paper is to establish a healthy comparison between Companies Act, 2013 and Company Act 1956 regarding MA process. To evaluate the new initiative taken and its impact. To find out the possible measures or necessary step to overcome the existing lapses. Scope Scope of the study is limited to study the new regulation and mostly focusing on the new development of as per Company Act, 2013. Limitation The new Company Act, 2013 has become fully implemented from 01 Apr 2014. So the actual output and the consequences the corporate sector faced cannot be measured in this sort time horizon. Further the paper is based on the secondary data so the realistic situation may be different. Research Methodology This paper is an exploratory type research and based on the secondary data information from the following sources, Research journal available online, Article published in magazine news paper, various websites blogs, media reports and personal interaction interview of professional on media. Literature review Maximum references is taken from the ‘Company Act, 2013: Rules, Circulars Notifications’ published by Ministry of Corporate Affairs, India, which emphasise the all aspect of company rule regulation. Reports of various agencies like PWC, India’s report on ‘ Company Act,2013, Key highlights and analysis’, Nov 2013,Deloitte’s ‘Company Act, 2013, Fresh thinking for a new start’, Oct 2013, Assocham’s, ‘Mergers and acquisitions in the era of Company Act, 2013’ Feb 2014, Ernst Young LLP’s report on ‘India Inc Company Act 2013 an overview’, Sep 2013 and KPMG India’s analysis on ‘Company Act 2013, New Rules of the game’, Oct 2013, which were emphasise on the business friendly corporate regulation, improved CG norms, enhance accountability, raise levels of transparency and protect interest of investors. Development of Company Act The expedition of Companies Act, 2013 as follows: 2008  On 23rd October 2008, Companies Bill, 2008 was introduced in the Lok Sabha to replace existing Companies Act 1956. It is based on the recommendation of J.J. Irani committee 2012 The Companies Bill, 2012 was introduced and got its assent in the Lok Sabha on 18 December 2012. 2013 Companies Bill, 2012 was passed by the Rajya Sabha on 8th August, 2013. After having received the assent of the President of India on 29 August 2013, it has now become the much awaited Companies Act, 2013. The Act comprises of 29 chapters, 470 clauses 7 schedules. The key high lights of Company Act, 2013 are the extent of subordinated legislation. Which contain 300 references in the Act to rules which may be prescribed to implement and operational. New Initiative and changes: 1. Simplifying procedures for restructuring [section 230-232] To provide for a simpler and faster process of mergers and acquisitions, the new Company Act provides following initiative like: (a) Fast track merger[section 233]: In 2013 Act contains provisions that merger process between 2 or more ‘small companies’ and between a holding company and require approval of ROC, OL, members holding at least 90% of total number of shares and majority of creditors representing 9/10th in value. This will taking less in the High Court (NCLT under 2013 Act) process and will facilitate easy completion of the process. (b)Multilayer investment subsidiaries [section 186]: In 2013 Act One of the measures adopted to prevent money laundering and to ensure transparency is to restrict one’s ability to set up multiple investment companies. (c) Registered Valuers [section 247]: For valuation to be made in respect of any property, stocks, shares, debentures, securities, goodwill or other assets or of net-worth or liabilities under 2013 Act, will be done by a person registered with the Government as a valuer. Registered valuer shall be appointed by the audit committee. (d) Minority buy-out [section 236]: The New Act has introduced new 6 provisions relating to minority buy-back which will provide greater flexibility to the promoters/ acquirer in realigning the control and management. The key provisions like purchasing capacity of share holder having more than 90% holding, act under the SEBI Regulations, price determined by a registered and provision of delisting guideline etc. 2. Outbound merger: 2013 Act introduced provision for an Indian company to be merged with a foreign company and vice versa which will require prior approval of RBI under FEMA rule. 3. New types of companies permitted: One person company (OPC) whose paid-up share capital does not exceed INR 0.5 crore or whose turn over does not exceed INR 2 crore would be a private company. These companies enjoy more choices and flexibility. 4. Objection by minority: Objection to the compromise or arrangement can be made only by persons holding not less than 10% of the shareholding or having outstanding debt of not less than 5% of total outstanding debt as per the latest audited balance sheet which will save the companies from being dragged in long drawn court (NCLT under 2013 Act) process by minority holders who is holding even single share. Threshold will ensure that merger / demerger etc. process moves smoothly and swiftly in accordance with the law. 5. Postal Ballot Voting by Postal ballot through post / electronic mode is made applicable to all companies. 6. Buy-back of securities To provide to shareholder in a joint venture an exit in a tax efficient manner or to reward shareholders Buy-back of security has often been used. Under 1956 Act, it is possible to carry out more than 1 buy-back in a financial year as long as conditions were complied with. 2013 Act has restricted the ability of a company to do multiple buy-backs of securities. 7. Other changes: Approval threshold i.e. Compromise or arrangement would require approval by a majority representing 3/4th in value of the creditors and members. The scheme of compromise and arrangement need to be compliant with the Accounting Standards and Auditor’s Certificate to that effect needs to be filed with NCLT in accounting treatment. Valuation report to be given to shareholders / creditors along with notice convening meeting for a compromise or arrangement. The notice for compromise or arrangement need to be given to CG, Income tax, RBI, SEBI, Stock exchanges, ROC, OL, CCI, if necessary, and other sectoral regulators / authorities, to enable them to make representations. Participation and resolution for compromise or arrangement need to be passed through Postal ballot. Treasury stock: Holding of shares in its own name or in the name of trust whether through subsidiary or associate companies by the transferee company as a result of the compromise or arrangement will not be allowed and any such shares shall be cancelled / extinguished. Takeover Offer may be included as a part of compromise and arrangement in the manner as may be prescribed in rules issued by SEBI. Merger of listed into unlisted company: In case of compromise / arrangement between a listed transferor company and an unlisted transferee company, NCLT may provide that the transferee Dispensation of meeting of creditors: Meeting of creditors can be dispensed only if 90% of the creditors in value agree to the scheme by way of affidavit. Combining authorized capital on amalgamation Minority shareholders Exit route: After passing resolutions at board meeting and not by circular resolution, the proposal of amalgamation, merger or reconstruction can be considered and approved by Board of directors only by The scheme of compromise or arrangement shall clearly indicate only one appointed date from which date the scheme shall be effective not at a date subsequent to the appointed date Capital reduction will require approval of NCLT. Comparison analysis: 1. For outbound cross-border deals The Companies Act, 1956 does not permit. The Companies Act, 2013 allows, subject to RBI approval, both inbound and outbound cross border mergers and amalgamations between Indian and foreign companies. 2. The Companies Act, 2013 states that an application need for the Tribunal to make compromise or arrangement involving CDR, with matters like (a) A report by the auditors of the company about fund requirements after the CDR will conform to a liquidity test (b) A valuation report in respect of the shares and the property and all assets, tangible and intangible, movable and immovable, of the company by a registered valuer. The Companies Act, 1956 does not contain any specific provision regarding a high court approval of a CDR scheme 3. Under the Companies Act, 2013, the Tribunal will not sanction a scheme of capital reduction, merger, acquisition or other arrangement unless the accounting treatment prescribed in the scheme is in compliance with notified AS and a certificate to that affect by the company’s auditor has been filed with the Tribunal. Currently, SEBI has done this job. 4. The Companies Act, 1956 does not prohibit companies from creating treasury shares under the scheme. The Companies Act, 2013 prohibits such practices. 5. The Companies Act, 2013 clarifies that the merger of a listed company into an unlisted company will not automatically result in the listing of the transferee company. There are no such provisions under the Companies Act, 1956. 6. Under the existing Companies Act, 1956 any shareholder, creditor or other interested person can raise objection. However, under the Companies Act, 2013, only persons holding not less than 10% of the shareholding or having outstanding debt not less than 5% of the total outstanding debt, can raise objections to the scheme. 7. The Companies Act, 2013 empowers the Tribunal to dispense meeting of creditors if 90% or more of such creditors or class of creditors (in value terms) agree to scheme through affidavit. Though the Companies Act, 1956 does not provide such action. 8. Under the Companies Act, 1956 the terms â€Å"undertaking† and â€Å"substantially the whole of undertaking† are not explicitly defined. Under the Companies Act, 2013 provide the specific definitions of above. 9. The Companies Act, 2013 prohibits a company from making investments through more than two layers of investment companies subject to certain exceptions. There is no such restriction under the Companies Act, 1956. 10. The Companies Act, 2013 includes specific provisions requiring the company to send a notice of the scheme inviting objections/suggestions from inter alia the Income tax authorities, RBI, Competition Commission of India and such other sectoral regulators or authorities likely to be affected by the scheme. Currently, the Companies Act, 1956 does not require such notification to regulators/authorities. 11. The Companies Act, 1956 does not have specific entrenchment provisions (akin to veto rights). However, the Companies Act, 2013 stipulates that the articles of the company can include entrenchment clauses. 12. The Companies Act, 2013 also includes specific provision stating that contracts or arrangement between two or more persons as regards share transfer be enforceable as contracts. There are no such specific provisions under the existing Companies Act, 1956. 13. Under the Companies Act, 1956 preference shares are mandatorily redeemable within a period of 20 years. However, the Companies Act, 2013 will permit companies with infrastructure projects to issue preference shares, which are redeemable beyond 20 years, 14. The Companies Act, 2013 introduces the well-recognized internationally concept of class action suits in India Steps for improvement To improve and to make efficient the MA regulation, there needs to be address the interests of wider stakeholders including financial institutions, minority stake holders, employees, customers, vendors, regulators and the society at large. Effective system having following points Effective, diversified and independent board that is able to challenge management on its strategic choices Clearly defined roles for board and management Constructive board meetings Robust monitoring of business performance Management assurance like management controls, internal and external audit Openness and transparency in dealings with stakeholders A constant effort to improve accountability and drive better performance by focusing on the most substantive issues The ability of the board and management to work together in defining the optimum business model for success The ability to identify, access and manage emerging risks Conclusion With rapidly changed global environment, there is a requirement for adopting and sustaining good Governance practices for value creations and building corporations of the future which contains the measures practices regarding merger acquisition fast track process, protection of shareholders interest etc. The Companies Act, 2013, adds robust and progressive new provisions with investor-friendly regulation and also retains the old provisions. The 2013 Act features some new provisions in the area of mergers and acquisitions, apart from the existing provisions by simplifying and rationalising the procedures involved and ensuring higher accountability for the company. It is definitely take some time for implementation from which we can derive further more relevant information and result of company act. There are some part of this act which is still need to be relooked but overall while compare with other globally accepted company law like Japanese model, European model and American Anglo -Saxon model. Whereas no model/rule/regulation are perfect and better but the initiative taken for improvement must be considered as the first step towards growth and flourishing keeping the view of current changing scenario.

Lord of the Flies Essay -- Literary Analysis, William Golding

Nature or nurture? A question frequently asked but hard to answer or prove. This is where William Golding steps in. He writes a novel about a group of schoolboys stranded on an island, fighting to survive. Instead of acting how they have been taught by society, they turn into a disaster, breaking up into separate groups, having celebrations to hunt pig, and killing each other. In Lord of the Flies, William Golding, inspired by The Coral Island and Paradise Lost, shows the true nature of human beings in a society created by children. The novel, Lord of the Flies, comes from William Golding’s personal experiences. In 1953, Golding asked his wife, Ann, if she thought it would be a good idea if he wrote a book about the mess boys with no parents would make on an island. She responded that she liked the idea, so Golding sat down and started writing his first novel (Tiger 22). As he started writing this novel, Golding remembered when he had served in the Royal Army during World War II. Those five years taught Golding what humans were actually capable and willing to do. They are also responsible for first interesting him in the evil within humans and barbarism (â€Å"Golding†). Although Golding got many of his themes from what he had witnessed, he also based his plot from a few of his previous readings. Lord of the Flies is considered to be William Golding’s response to R.M. Ballantyne’s, The Coral Island. Like Lord of the Flies, Ballantyne’s novel is based on a group of boys who get shipwrecked and end up stranded on a coral reef island. Although, in The Coral Island the boys make the best of the situation they are in and lead a happy, organized life. Golding calls his novel a â€Å"kind of black mass or realistic view of the situation† (Bu... ... ignoring his other ones. In response to this, Golding wrote the essay â€Å"Fable† to answer questions he received constantly (Wood 316). The book also â€Å"inspired two films, was translated into 26 languages, sold millions of copies, and became a standard on college and high school reading lists† (Lambert 317). Moreover, Nigel Williams, an actor produced a theatrical adoption from the book. The title of the novel was even used to name the killing or mass murder of children (Tiger 23). To sum it all up, in Lord of the Flies, William Golding shows that he believes in nature over nurture. Although his novel did receive negative reviews, it turned out to be a very successful novel. Lord of the Flies continues to be famous and studied world-wide. His wording, themes, realistic views, symbolism and writing overall continue to attract and interest more readers to his writing.