Young People in Society

Explain how political, economic and social constructs can be used to categories society. Look at how Irish society stratifies according to social class and gender. Sociologists develop theories and concepts to help reveal the structure of social life and they engage in numerous different forms of empirical Investigation to test and develop these theories. They are Interested In how people communicate and create meaning and understanding, but they are also interested in questions of power and inequality.They use a variety of sources such as historical documents, observations, river research to help develop reliable information about how society operates. Define social stratification Social stratification is a system where people are ranked hierarchically which leads to groups of people being classified into layers and strata (class, caste, slavery and estate).Class – social class system Is a system of stratification that results from unequal distribution of wealth, power and pr estige. Caste -? this is a fixed arrangement of strata from the most to the least privileged. Estate – this consist three different strata or layers – aristocracy, clergy and commoners. Slavery – this is the oldest and most extreme form of stratification or inequality in which some people are literally owned by others as property.All social stratification systems share four basic principles each reflecting how these systems cause inequalities based on class, gender, ethnicity, age, religious affiliation and consequences at an Individual and at a collective level In society, no one social stratification system Is unique, each system Is a characteristic of the society It relates to and it is not simply a reflection of differences at an individual level, nor is it a new incept as afore mentioned but it is a system that has and will persist over generations and although stratification systems may not be an exact replica In each society, fundamentally stratification systems are universal albeit widely variable, they also incorporate ideological beliefs while also engendering shared identities (Macaroni et a', 2005). Do all societies stratify? If so, in what way? Virtually all societies have some form of stratification or structured inequalities that are organized and that persist over time. It Is universal but variable and seems to be found everywhere. At the same time, what is unequal and how unequal it is varies from one society to another.For example, I) Social stratification persist over generation – in all societies, parents confer their social positions on their children, so that patterns of inequality stay much the same from generation to generation. (Monoclonal et a', 2005). II) Some Individuals do also experience social mobility -? It may be downward or upward. Society celebrate the achievements of those who rose to people are regarded as more important than others, more worthy of respect or seen as more useful than others in ce rtain situations. It is also evident that people could move downward as a result of illness, unemployment, economic break-down, business setback etc.However, social standing of most people remain unchanged for a life time – like the Royal Family in England. What system of stratification is in operation in Ireland? Is it an open or close system of stratification? The social stratification in Ireland today is undefined. However, the class system seem to be in operation in Ireland and it is considered a close system. A closed system does not afford a person the same opportunity, and as a result a person's position in fife is solely determined by the family group they are born into. Identity and belonging dominate the social class in modern Ireland. This can be to the majority of people defined by two categories: the first being wealth (Middle class).If you are wealthy you have a lot more opportunities in education, professionals or higher managerial e. G. Senior government worke rs, doctors, farmers, company directors etc. And; secondly being poor (Lower class). – these are people in lower scale in the society e. G. School teachers, driver, machine operator, bar-worker waitress, cleaner, call- centre worker etc. The rate of lower class status rocketed since recession. (Hyde et al, 2007:65-66) Describe the system of stratification found in Ireland. How is it broken down? (include tables and diagrams here if relevant) During the Celtic Tiger it was perceived that Ireland as a whole was very wealthy and many people were classed as Wealthy or ‘upper class'.However since the recession hit the social status regarding the wealth of the country has deteriorated. Today, a larger number of the population are working or middle class. The growing unemployment rate has forced many people, including well educated individuals to rely on state benefits. This has been a huge factor in the rapid decrease in the social status of the country. Social mobility in Ir eland appears to be going in the wrong direction. Not only is the social stratification in Ireland defined by its economic status, but also by a number of other factors; for example; a person's religion. In the past the influence the Catholic Church had on people determined the way they lived there life.Catholic priests were understood to be very well respected figures in society and anyone of the catholic religion were accepted as part of the community however individuals of a different faith were viewed as outsiders. Nowadays a person's faith does not have as big an influence on their social status and many people from different religious backgrounds are accepted in Irish communities. Does class/socio- economic position, impact on your health? Please provide evidence, statistics to There are differences among people in the amount of access they have to the resources of wealth and prestige in most societies. Such differences among people in terms of income and status are usually re ferred to as social class differences. The categories that people have been assigned to by virtue of their occupation have been marred with patterns of illness in society.The lower your place in the social class scale, the worse is likely to be your health status and visa-versa (Hyde et al, 2007). Although race, gender, age etc have influenced socio-economic status, classification by occupation tends to be more common; hence in Ireland, a person's social class is measured according to his or her occupation while social class of children is determined by parents' occupation (Denote and Cannon, 2003). According to Denote and Cannon, there are huge inequalities between the classes in the distribution of wealth in the country. It is estimated that 10 per cent of the population own nearly half the wealth in the country, therefore 90 per cent of the population share the other half, but not equally. Ibid:71 in McDonald B, 2009) Health inequalities are often observed along a social rise. Th is means that the more favorable your social circumstances such as income or education, the better your chance of enjoying good health and a longer life. While there is a significant gap between the wealthy and the poor, the relationship between social circumstances in health is in fact a graded one. Source of data ‘Inequalities in Mortality 1989-1998' A series of studies by the Institute of Public Health in Ireland (PIP) found that the number of people living with a chronic condition is expected to increase dramatically by 2020 and that disproportionately more of these people will belong to the older population.

Henrietta Lacks More Than Immortality - Free Essay Example

Sample details Pages: 5 Words: 1535 Downloads: 7 Date added: 2019/08/02 Category Medicine Essay Level High school Tags: Henrietta Lacks Essay Did you like this example? In 1952, more than 3,000 people in the United States died due to the polio virus (Beaubien). Because of the polio vaccine, it has not originated in the U.S. since 1979 (Centers for Disease Control and Prevention). Don’t waste time! Our writers will create an original "Henrietta Lacks: More Than Immortality" essay for you Create order We have one person to thank for this: an African-American woman named Henrietta Lacks. Henriettas immortal cells which were stolen by scientists have also helped us to understand cancer, HIV/AIDS virus, and to test many anti-tumor medicines. Those cells have generated millions of dollars, not any of which went to her family, and have saved thousands of lives. Henrietta Lacks has not only revolutionized science with her cells, the trials that she had in life also teach immortal lessons of persistence, injustice, bravery, and how an indomitable spirit can have a profound impact. Henrietta Lackss childhood had plenty of hardships and difficulties. Henrietta was born Loretta Pleasant in Roanoke, Virginia in 1920. Nobody knows how she came to be called Henrietta. When Henriettas mother died in 1924, her father sent her to live with her grandfather, Tommy Lacks. Growing up in Virginia in the 1920s as an African-American woman was extremely difficult, to say the least. Even though Henrietta only attended school until the sixth grade, [s]hed walk two miles past the white school where children threw rocks and taunted her to the colored school, a three-room wooden farmhouse . . . (Skloot 20). Receiving little education, even as a child she was underestimated and underappreciated because of circumstances beyond her control. As if that wasnt enough, Henrietta also had her first child at age fourteen with her cousin, David Lacks, and married him at twenty. Her childhood was short and adverse, but even still the people who knew her best still remembered her beautiful smile, proving how even though Henrietta had a great many challenges early on in life, she persisted in order to overcome them.Henriettas relationship with Johns Hopkins hospital was full of misdirection and injustice. After David and Henrietta had moved to Maryland and had five children, Henrietta noticed what seemed to be a knot next to her cervix. She went to the Johns Hopkins gynecology clinic to have it looked at, where Dr. Howard Jones examined her cervix to find the lump exactly where she said it would be. After being diagnosed with an Epidermoid carcinoma of the cervix, Stage I (Which turned out to be diagnosed incorrectly after examination several years later), Henrietta underwent surgery to kill her cancerous cells with radium. At this time, a man named George Gey and his wife were conducting experiments at Johns Hopkins to attempt to grow malignant cells outside of the body in the hopes of curing cancer. Dr. Richard Wesley TeLinde at Johns Hopkins was collecting cervical cancer cells from women and offered them to George, which was where Henrietta fit in. In order to kill her cancer cells, the doctors inserted radium (A mineral able to kill cancer cells) into her cervix. Before this, how ever,   though no one had told Henrietta that TeLinde was collecting samples or asked if she wanted to be a donor [the doctor] picked up a sharp knife and shaved two dime-sized pieces of tissue from Henriettas cervix . . . and after that, gave them to Dr. TeLinde (Skloot 33). In essence, Johns Hopkins had just stolen her cells. Not only that, but they also neglected to mention to Henrietta that the radium treatments would render her infertile and unable to have any more children. Overall, Henrietta was mistreated and taken advantage of at Johns Hopkins. Even while Henrietta was unable to do so herself, she shows us the importance of standing up for our health and rights with her story.At the end of her life, Henrietta bore unimaginable pain with remarkable patience. Henrietta never complained of pain, and in fact never even told her family that she had cancer for a while. After she went back to the hospital once to confirm that the tumor was indeed shrinking, she never saw the need. However, the doctors at Johns Hopkins realized that her cervical cancer had grown back, and not only that but many other tumors as well. Cervical cancer had basically shut down one of her cancer suppressing genes, causing cancerous cells to spread over most of her organs. Henr ietta was dying, with her last days filled with enormous pain and suffering. Despite all of that, when George Gey came to visit Henrietta after discovering that her cells were immortal, [he] told Henrietta her cells would help save the lives of countless people, and she smiled. She told him she was glad her pain would come to some good for someone. (Skloot 66). Those last incredible words of Henrietta teach us all how courage can help you bear even the worst of times. The death of Henrietta Lacks affected all of the people around her. On October 4, 1951, she died after a long struggle (Skloot 86). The people performing her autopsy would describe the tumors in her body like pearls. They covered most of her organs, including her lungs, her digestive system, and her heart. Officially, her cause of death was a build-up of all of the toxins in her urine that was released into her bloodstream. Because she couldnt use the restroom or have a catheter inserted into her bladder, the toxins had no place to go but her blood. When her body was sent back to her relatives, her cousins dressed up her dead body and her family buried her somewhere near her mothers burial site. It is proof as to how much Henrietta was loved that cousins filed onto porches to watch Henrietta pass, their hands on hips or clutching children as they shook their heads and whispered to the Lord. (Skloot 91). When the people in her community learned that Henrietta had died, it saddened and shocked many of them. Henrietta was so lively and well-liked that her death had a large impact on everyone close to her, proving how one good person really can make a difference.Henriettas family was wholly unaware of what her cells have done for a very long time. After she died, her husband remarried and her five children only knew their mother in memories. They certainly had no idea what she had done to change science. Her family would only discover about her cells twenty-two years after her death when a scientist came to take samples from her children in the hopes that they would have the s ame immortal cells as their mother.   According to one of Henriettas children, Sonny Lacks: John[s] Hopkin[s] didnt give us no information about anything . . . cause they were selling her cells all over the world and shipping them for dollars. (Skloot 168). Even when they did know that Henriettas cells were important, they didnt know what exactly they had done. All they knew was that they didnt like the idea that their mothers cells were seemingly everywhere. The story of a family struggling to know their mother is not only sad, it once again demonstrates how the life of Henrietta Lacks was not limited to what her cells have done for science.Henriettas cells (Called HeLa by scientists) were the first ever immortal cells and helped to make many advances in science. The reason why immortal cells were a breakthrough was that, in order to test various drugs, medicines, and procedures to see how they would impact a human, scientists need human cells. Before Henrietta, all attempts at cultivating immortal cells had failed. Cancer cells survive longer than regular cells because instead of having a limit as to how long they survive, cancer cells will live on forever in the right environment. HeLa just happened to be remarkably resilient and survived where other cancer cells didnt. When George Geys assistant tested Henriettas cancer cells and they survived, scientists all over the world started clamoring for Henriettas cells to test their ideas. [Gey] sent shipments of HeLa cells to researchers in Texas, India, New York, Amsterdam, and many places between. (Skloot 57). Because of this, Henriettas cells have been in space to test the effects of space on humans, have been exposed to many toxins and nuclear bombs, and helped us to better understand cancer. They have also been instrumental in developing the polio vaccine and studying the HIV/AIDS virus. Henrietta Lacks, whether she knew it or not, has made an enormous impact on the world today with her remarkable cells.Henrietta Lacks was so much more than her immortal cells. She persisted through challenges early in life, teaches us how important it is to stand up for yourself when Johns Hopkins stole her cells and shows a beautiful example of patience and diligence even when in intense pain. Not only this, but th e great impact that her death and HeLa cells had on her family, the people around her, and the world is astounding. In any way that you look at it, Henrietta Lacks was an incredible woman who taught many important, everlasting ideals within her short life. Not to mention, there is always a lesson to be learned from a woman who, even on her deathbed, was simply happy to know that she would help.

Social Issues In American Literature - 972 Words

American Literature from its beginnings is shaped by a demand towards reforming society by bringing awareness towards towards social issues and a need to question societal norms.American literature from its beginnings has focused around establishing the American identity , and has also served as a means to address social issues that have plagues American society. The three authors that are representative of these ideals are the following; Hector De St John Crevecoeur Benjamin Franklin, and Hannah Foster. These authors represent different perspectives on American issues, ranging from revolutionary era america, women’s rights, and also establishing a set of values that represent the American Identity. At a time where the new world†¦show more content†¦The position that Crevoucuer demonstrates towards the social order in America is that it is corrupt, and that the idea of revolution has turned quickly into disorder throughout the colonies. Although Letters does provid e praise towards the New world, it also demonstrated the issues associated with forming a new world. These issues are that of the vast disparities of wealth, institution of slavery, and that the New World consists of colonies that are made up of contradictions. Ultimately, Letters provides a pessimistis forecast for Ameria’s future and puts into question the nature of humanity in the forming of America. A work of literature that contrasts the ideas stated in Letters is Benjamin Franklin’s Poor Richard’s Almanack. One of the main purposes of this almanac was to actually help the average citizen in achieving prosperity. Franklin like Crevecouer, uses a persona in his writings. The persona that is used by Franklin is that of a poor farmer (Poor Richard), which helped to connect with Franklin’s target audience, which was the common American citizen. This style of writing contrasts with Crevocuer because instead of making observations about the corruption of America, Poor Richards Almanac tries to help Americans out by using rational logic towards the problems of taxation, accumulating debt, and promoting the concept of sociability. This almanac largely consisted of maxims of these ideals. An example ofShow MoreRelatedEthnic Literature : Ethnic American Literature1381 Words   |  6 Pages The purpose of this paper is to introduce and analyze the topic of Ethnic American Literature. Specifically it will discuss the meaning and definition of Ethnic American literature. Ethnic American literature is a rich and varied treasure of poetry, fiction, drama, and much more. Written by some of America s greatest authors, this ethnic legacy opens up a world of diversity to readers, but it also illustrates the struggles and prejudice that still exist in our country today. 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Abraham Lincoln His Fight For Freedom And Equality Essay

Abraham Lincoln: His Fight for Freedom and Equality Throughout history, slavery has been a controversial topic in the United States. There have been many revolts and rebellions, such as Gabriel’s Rebellion or Nat Turner’s Rebellion, fought over the abolition of slavery or for African Americans to be able to receive the same rights as those of white people. Many people have fought for this cause and one of those people is Abraham Lincoln. Lincoln issued the Emancipation Proclamation, which is one of the major stepping stones that led to the abolition of slavery. â€Å"Abraham Lincoln has been regarded as one of America’s greatest heroes†¦his historical role as savior of the Union and emancipator of the slaves creates a legacy that endures.† (Abraham) Abraham Lincoln was born February 2, 1809 in Hardin County, Kentucky. 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Financialisation And Conceptual Framework - Myassignmenthelp.Com

Question: 1. From your firms financial statement, list each item of equity and write your understanding of each item. Discuss any changes in each item of equity for your firm over the past year articulating the reasons for the change. 2. What is your firms tax expense in its latest financial statements? 3. Is this figure the same as the company tax rate times your firms accounting income? Explain why this is, or is not, the case for your firm. 4. Comment on deferred tax assets/liabilities that is reported in the balance sheet articulating the possible reasons why they have been recorded. 5. Is there any current tax assets or income tax payable recorded by your company? Why is the income tax payable not the same as income tax expense? 6. Is the income tax expense shown in the income statement same as the income tax paid shown in the cash flow statement? If not why is the difference? 7. What do you find interesting, confusing, surprising or difficult to understand about the treatment of tax in your firms financial statements? What new insights, if any, have you gained about how companies account for income tax as a result of examining your firms tax expense in its accounts? Answer: Answer 1: In the balance sheet of the organizations there are three chief items that can been observed and one of them is being the Equity. The similar theory is applicable for Breville Group Ltd. On observing the annual report of the Breville Group Ltd for the year ended 2017 it was found that there are three main items that is listed in the balance sheet namely the issued capital, reserves and retained earnings (Picker et al. 2016). Organizations makes the use of the equity shares so that the firm can raise the capital issue business. The annual report of the Breville Group Ltd represents that the company reported the equity that was attributable to the equity shareholders of the parent company with issued capital amounting to $140,050 for the year ended 2017 and 2016. The issued capital comprised of the ordinary share that are classified as equity (Breville Group Ltd 2018). On the other hand, the next items that has been reported by the firm is the Reserves with reserves standing $6,782 in the year 2017 and in the year it stood $4,930 respectively. The nature and purpose of the reserves consisted of the foreign currency translation reserve, employee equity benefits reserve and the cash flow hedge reserves. Breville Group Ltd makes the use of the foreign currency translation reserve in order to record the differences originating from the translation of financial reports of the overseas subsidiaries. The employee equity benefit reserve of Breville Group Ltd is put into use to account for the value of equity benefits that is provided to the employees as the part of their remuneration. The cash flow hedge reserve on the other hand is used to record the amount of gain or loss made from the hedging instrument in the cash flow hedge which is regarded to be an effective hedge (Nobes 2014). The final item that is reported by Breville Group Ltd under the heads of equity is the retained earnings that stood $110,885 for the year ended 2016 and in the subsequent year it stood to $126,341. Answer 2: There are numerous types of expenditure that is reported by Breville Group Ltd in their annual report. These expenses are selling, expenses, administrative expenditure, general expenditures and other forms expenses (Macve 2015). Besides these expenditure, Breville Group Ltd reported tax expenditure which is considered to be one of the vital expenditure of the company. similarly, these tax expenditure forms the chief liability for Breville Group Ltd to the state and civic government of Australia. Breville Group Ltd computes the tax expenditure by multiplying the business tax from the earnings of the company following the factorization of the components such as current income tax charge and adjustment in regard to the current income tax of the earlier years (Zhang and Andrew 2014). Breville Group Ltd performs the reconciliation between the tax expenditure and the product of accounting profit before the income tax is multiplied by the parent company with the applicable income tax rate (Breville Group Ltd 2018). Taking into the considerations the annual report of the Breville Group Ltd company has reported the tax expenditure of $21,347 for the year ended 2016 while in the following year of 2017 the company reported the income tax expenditure of $23,389 respectively in its income statement. Answer 3: As evident from the above stated discussion the income tax expenditure that is reported by the company is greater in the year 2017 than the figures reported by the firm in the year 2016. The income tax expenditure for the year ended 2016 stood $21,347 while in the subsequent year of 2017 the income tax expenditure reported by the firm in its income statement has increased to $23,839 subsequently (Breville Group Ltd 2018). In addition to the analysis, the company reported a profit before income tax of $71,519 for the year ended 2016 while in the following year of 2017 the profit before income tax stood $77,223. On analysing the annual report of the firm the tax rate for the firm stood at the rate of 30% based on the profit reported by the firm for both the financial year of 2016 and 2016. According to the applicable tax rate of 30% for the year ended 2016 and 2017 the tax expenditure for the Breville Group Ltd should be 23,167 ($77,223*30%) and $21,456 ($71456*30%) respectively. However, the company reported the tax expenditure of $23,167 and $21,456 for the year ended 2017 and 2016. Therefore, as evident it is found that there is a differences between the actual and reported amount of tax expenditure in the existence of similar rate of tax for both the years (Marshall 2016). There are few factors that have caused differences that usually the adjustments, applicable of different tax rates and non-deductible expenditure. The primary factor responsible for the existence of the differences in the tax amount reported by the firm is the adjustment made by Breville Group Ltd in respect of the current income tax relating to the previous years. The adjustment amount made in respect of the current income tax of the year stood $105 and $33 respectively. Another reason for the differences in the amount of tax reported is the effect of the different rates of the tax on the overseas income. Figures reported under the effect of the different rates of the tax on the overseas income is $101 and $184 respectively. Another reason for differences in the tax expenses is the sum of expenses that is non-allowable for the purpose of income tax (Wahlen, Baginski and Bradshaw 2014). The non-allowable expenses for income tax stood $64 and $215 respectively for the year ended 2016 and 2017 respectively. Breville Group Ltd reported other expenses of $358 which were added in the computation of income tax for the year ended 2017 (Breville Group Ltd 2018). In the year ended 2016 other expenses of $241 were deducted which altogether made the differences in the income tax expenses reported by the company in the income statement. From the above stated discussed elements there are differences that can be witnessed in the computed and the reported amount of income tax of the firm. Answer 4: In executing the tax operations of the firm, deferred Tax Assets and deferred Tax Liabilities is regarded as the vital portion (Barth 2015). The creation of the deferred tax is regarded can be witnessed in the case of the present company where the company has reported the deferred tax assets of $5,819 for the year ended 2017 and $7,351 for the year ended 2016 respectively. According to the Breville Group Ltd the deferred income tax is provided is based on all the provisional differences amid the tax base of the assets and liabilities along with their carrying amount on the balance sheet for the financial purpose of reporting (Williams 2014). The deferred tax assets reported by the firm is identified for the deductible provisional differences, carry-forward of the unused amount of tax assets and the unused amount of the tax losses up to the extent that it is probable ant the taxable profit would be made available against the deductible temporary differences. The deferred income tax assets represent the deductible provisional temporary differences along with the carry-forward of the unused amount of tax assets and the unused amount of the tax losses that can be put into the use (Warren and Jones 2018). The carrying amount of the deferred income tax assets is reviewed for each of the balance sheet and lower the extent that it is no more probable that the adequate amount of assessable profit would be made available to enable all or the portion of the deferred income tax assets to be used. The unrecognized amount of deferred tax assets is revaluated on every balance sheet date and the same is identified up to the extent that the future value of the taxable profit would enable the deferred tax assets to be recovered (Henderson et al. 2015). The company reports that the deferred tax assets and the deferred tax liabilities is offset only when they are lawfully enforceable rights prevails to set off the current tax assets against the Breville Group Ltd current tax liabilities. Answer 5: In the process of taxation system of the firm, the current tax assets and the current tax liabilities is regarded as the chief elements of the firm. As evident from the annual report of the Breville Group Ltd the company has reported the current tax assets of $34 for the year ended 2016 and in the subsequent year 2017 the current tax assets reported by the firm stood 411 respectively. The current tax assets for the present and earlier period is measured for the amount that is anticipated to be recovered or paid to the authorities of taxation (Marshall 2016). It is noteworthy to denote that the applicable rate of tax and taxation laws is put into the use to calculate the amount and that are implemented or substantially implemented in the balance sheet date. Presently it can be observed that the differences prevail in the Breville Group Ltd relating to the amount of the current tax payable and the current tax expenses. Nevertheless, for the tax payable it can be said that that there are certain accounting transactions that are either included or excluded (Macve 2015). These accounting transactions includes the non-deductible expenditure, expenditure that are paid in advance and other factors. Because of the existence of these accounting transactions, the value of current tax payable either represents more or the less than the actual value of the income tax expenses. Hence, Breville Group Ltd is under the obligation of including or excluding these factors to obtain the actual amount of income tax. Answer 6: Evidences from the annual report of Breville Group Ltd has stated that the organization has reported regarding the income tax expenditure in two major statements namely the income statement and the cash flow statement (Schipper, Francis and Weil 2017). On analysing these two statements it is found that the amount of income tax expenditure in the cash flow is different from that of the income tax expenditure in the income statement (Hoskin, Fizzell and Cherry 2014). In the income statements, the amount of income tax expenditure for the year ended 2016 and 2017 stood $21,347 and $23,389 respectively. On the other hand, in the statement of the cash flow it is found that the income tax paid stood $19,742 and $20,518 for the year 2017 and 2016 respectively. An assertion can be bought forward by stating that the there is a mark of clear differences in the amount of tax expenses and the tax paid. There are specific reasons for such differences is changes in the value of the current assets and the current liabilities. As evident from the report is that the value of income tax expenditure in cash flow statement is declined marginally in comparison to the figures reported in 2016 and 2017. Consequently, the organization has conducted several adjustments in the income tax expenditure for both the year prior to recording them in the cash flow statement (Mullinova 2016). As a result of this there is a differences in the amount of income tax reported in the cash flow statement in respect of the amount reported in income statement. Answer 7: On analysing the financial statements of the Breville Group Ltd it can be stated that there are interesting facts relating to the organizations treatment of tax. One of the most interesting aspects of the organizations is the description provided regarding the value of tax expenditure. Breville Group Ltd has represented every item that has resulted in differences in the value of tax. Consequently, the differences in the reported amount of income tax expenses in the cash flow and income statement is an interesting factor. Therefore, on analysing the above factors a person can gain a better knowledge of the firm in the areas of equity, income tax expenses, deferred tax and other aspects along with the treatment of these expenses by the firm. Reference Annualreports.com. (2018).Breville Group Ltd - AnnualReports.com. [online] Available at: https://www.annualreports.com/Company/Breville-Groupltd [Accessed 8 Jan. 2018]. Barth, M.E., 2015. Financial accounting research, practice, and financial accountability.Abacus,51(4), pp.499-510. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015.Issues in financial accounting. Pearson Higher Education AU. Hoskin, R.E., Fizzell, M.R. and Cherry, D.C., 2014.Financial Accounting: a user perspective. Wiley Global Education. Macve, R., 2015.A Conceptual Framework for Financial Accounting and Reporting: Vision, Tool, Or Threat?. Routledge. Macve, R., 2015.A Conceptual Framework for Financial Accounting and Reporting: Vision, Tool, Or Threat?. Routledge. Marshall, D., 2016.Accounting: What the numbers mean. McGraw-Hill Higher Education. Marshall, D., 2016.Accounting: What the numbers mean. McGraw-Hill Higher Education. Mullinova, S., 2016. Use of the principles of IFRS (IAS) 39 Financial instruments: recognitionand assessment for bank financial accounting.Modern European Researches, (1), pp.60-64. Nobes, C., 2014.International Classification of Financial Reporting 3e. Routledge. Picker, R., Clark, K., Dunn, J., Kolitz, D., Livne, G., Loftus, J. and Van der Tas, L., 2016.Applying international financial reporting standards. John Wiley Sons. Schipper, K., Francis, J. and Weil, R., 2017.Financial Accounting: Introduction to Concepts, Methods and Uses. Cengage Learning. Wahlen, J., Baginski, S. and Bradshaw, M., 2014.Financial reporting, financial statement analysis and valuation. Nelson Education. Warren, C.S. and Jones, J., 2018.Corporate financial accounting. Cengage Learning. Williams, J., 2014.Financial accounting. McGraw-Hill Higher Education. Zhang, Y. and Andrew, J., 2014. Financialisation and the conceptual framework.Critical perspectives on accounting,25(1), pp.17-26.

Drawing the Color Line Essay Example

Drawing the Color Line Essay Drawing the Color Line Drawing the Color Line by Howard Zinn the second chapter from A People’s history of the United States. The authors writes this chapter to explain racism and how it started, â€Å"a continent were we can trace the coming of the first whites and the first blacks-might supply at least a few clues† he wants to use history to try to explain why it started. In this chapter Howard Zinn gives us an insight on Slavery and racism in the early 17th century of America. This chapter does not only tell us why slavery accrued but how it happened. The author Howard Zinn tells us how the Americans were simple prone to having slaves because of the circumstances they faced in the early 17th century. It was a period of starvation Howard Zinn tells us that â€Å" the Virginians of 1619 were desperate for labor, to grow food to stay aliveâ€Å". Among these people were also the survivors of the 1609-1610 the â€Å"starving timeâ€Å". This was a period of time were the colonist were desperate for food and would do anything for example they â€Å"dug up graves to eat the corpses†. Another incidents was when a man slew his wife and cute her into many pieces and fed upon her till he had eaten everything but her head. We will write a custom essay sample on Drawing the Color Line specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Drawing the Color Line specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Drawing the Color Line specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This was caused because many of the settlers weren’t used to working and didn’t even know how. They didn’t want to work, there was a time were john smith had to force the colonist to work in the fields just to be able to survive. The need for labor led the colonist to believe that Black slaves were the answer , it was natural to consider imported black slaves because by 1619 a million slaves had already been brought from Africa to South America. They were confined bellow deck all together, with no space at all. They weren’t even able to turn to the side. The smell on the ship was horrible. It was so bad that the slaves jumped ship to drown. The slaves would be held in cages and would be chained together. Blacks slaves were the answer because they couldn’t get the Indians to work for them. They could not keep them enslaved because they were â€Å"tough, resourceful, defiant, and at home in their own land†. While the black slaves had been torn from their culture and their land. Not only were they forced into a situation where everything was different, but they were torn from their families. They colonist even had a system that was both Psychological and Physical to try and discipline the slaves. The slaves rarely submitted willingly. The black slaves resisted and tried to run away they wouldn’t give up. Even though there was laws in trying to stop the blacks from running away, they still ran away. There were laws made that if anyone were to find black slave they should do to them what they feel be appropriate. Man slaves were killed or burnt in the book there was a case were a black slave was burnt in a slow fire for 8-10 hours. In some cases both white and black slaves ran way together but the punishment wouldn’t be the same white would only extend there period of serving as slaves and the black salves were hanged or killed. Even then they could see racism how the whites that committed the same crime would get treated differently then the black slaves. The black salves couldn’t do anything besides being slaves, so thought the white people. Even the white servants were treated different, not only were they working for a set period of time, but they were treated as humans and they had rights, and would receive land and pay at the end of their term. The white people justified their own slave trade because in Africa slavery existed too. This was not a good justification because a slave trader named John Newton stated that the way the slaves in Africa were treated much better and no man was allowed to draw blood no even from a slave. The colonist were cruel to the black slaves. â€Å"The reduction of the slaves to less than human status by the use of racial hatred, with the relentless clarity based on color, where the white was masters and the black was slave†. Even back in the early 17th century we saw racism. Another example was that the color black according to the Oxford English Dictionary it meant Deeply stained with dirt; soiled, dirty, foul. Having dark or deadly purposes, malignant; pertaining to or involving death, deadly†¦. liability to punishment, etc. , and the white was often used to describe beauty. Also that the greatest fear was that the white servants would join the black servants to overthrow existing order. This all goes back to the beginning of the book and the question that the author Howard Zinn asks â€Å" How does it start? †, â€Å"How might it end? † and â€Å"Is it possible for whites and blacks to live together without hatred? †

Retailing Characteristics of Fast Food Stores and Their Impact on Customer Sales and Satisfaction Essays

Retailing Characteristics of Fast Food Stores and Their Impact on Customer Sales and Satisfaction Essays Retailing Characteristics of Fast Food Stores and Their Impact on Customer Sales and Satisfaction Essay Retailing Characteristics of Fast Food Stores and Their Impact on Customer Sales and Satisfaction Essay a zero inventory concept, category management, use of Internet and computers for inventory control and supplier-retailer coordination) were revolutionized in the 1990s. This was led by global chains and is diffusing into developing regions of Asia through knowledge transfer and imitation and innovation by domestic supermarket chains. The development enabled chain stores to build their own distribution centers and to accommodate a high volume of direct shipments from producers under central inventory control. Importantly, stores should be able to forecast daily sales with a considerable degree of accuracy , thus reducing wastage levels. Low margins and high competition: Multinational chains arrived in Asia with many years of experience and development in the very competitive environments of their respective countries. Their extensive experience included modern technologies and know-how regarding supply chain management, procurement arrangements, stock optimization, quality standards control, cold storage maintenance, product handling, shelf-life preservation, and consumer services. Consumers enthusiastically received the unprecedented services and quality provided by these new chains. The competition forced local firms to enhance their services and efficiency, generating a chain reaction of improved services and modernization throughout the grocery sector. Competition among retailers is fierce. Asian agri-food distribution companies are aiming to lift competitive ness, and the phrase â€Å"drive costs out of the system† has been used widely in the retail industry. Supermarket chains are constantly seeking substantial savings through efficiency gains, economies of scale, and coordinated cost reductions. Furthermore, with the number of modern trade stores growing faster than total sales, as is the case in China, the share of trade for an individual retailer is actually in decline. At the same time, consumer loyalty to individual stores is low. Shoppers in China continue to switch between outlets, including the wet markets. As a result, all supermarkets appear to be extremely price conscious. Demographic, cultural and social changes:- The percentage of young people in the population of Asia is increasing. A westernization of lifestyles is also increasing, particularly among younger people. Changes in family structure in Asia are being witnessed, with a growing number of nuclear families and one-person households, as opposed to extended families. Finally, there has been an upward trend in the use of credit cards, which are rarely accepted by corner shops or traditional wet markets in developing countries. All of these factors have contributed to the attractiveness of supermarkets to consumers. Increased travel:- More travel has exposed people to modern retailing techniques in the United States and parts of Europe, to a wider range of products and, particularly for fresh fruits and vegetables, to the possibility of being able to consume many out-of-season products. 1. 4 RECOGNITION OF A PROBLEM Food retailers recognize that consumer satisfaction (CS) plays a key role in a successful business strategy. What is unclear is the exact nature of that role, how precisely satisfaction should be managed, and whether managerial efforts aimed at increasing satisfaction lead to higher store sales. Today, managers in the food retail sector undertake substantial efforts to conduct CS surveys. Yet it appears that in most cases the data are used to simply monitor specific store attributes, and especially overall satisfaction, over time. Unless the impact of consumer satisfaction on store revenues is assessed, managers have little basis for allocation of resources. In general, the linkages between drivers of consumer satisfaction and sales performance have not been firmly established in the food industry. For the estimation of these linkages, recent research indicates that several issues must be addressed We measure the links between attribute perceptions and consumer satisfaction, and between consumer satisfaction and sales performance, in the food retail sector. The study relies upon an extensive data set comprised of five waves of consumer satisfaction and sales information from approximately 180 consumers. We construct a hypothesis in first differences that addresses the inherent nonlinearities and asymmetries in these links. We also provide an example of how firms can use the estimated linkages to develop satisfaction policies that are predicted to increase store revenues. Our study makes three contributions to the literature, one methodological and two substantive. First, we examine nonlinearities and asymmetries in the satisfaction-sales performance links based on an empirical model expressed in first differences. Second, the study advances the measurement of behavioral links between consumer satisfaction and performance in the food retail sector with firm-specific data. Third, our study shows how firms can employ such results to develop appropriate consumer satisfaction policies. Many retailers suffer from a variety of problems and difficulties . These can be classified as : A) Inadequacies in the trading environment (e. g. economic and social change, competition from multiple retailers); B) Inadequacies in the retail form (e. g. operating costs, investment capital availability, supply problems); C) Inadequacies in management (e. g. management expertise and techniques). ther prominent problems with Indian Food retailers are:- 1)Retailers are facing high degree of competition these days as there are several retail outlet of the same food product in metropolitan cities, so retailers are not only facing competition from other food product outlet but they are facing a stiff competition from his own counterpart also.. 2)Due to increased literacy rate and widespread of media, customers are extra aware about the food products as well as the ingredients an d promotion schemes given by different retailers. )Many customers want to eat those food products which are of foreign origin but with Indian ingredients (According to their customs and traditions). 4)Young generation is a big consumer of fast food these days. They want to take fast food from those retail outlets where they can eat those products with their friends and can also get the Home delivery of the same, so to meet these requirements of young customers, retailers have to invest more in their retail outlets. 5)Rapidly changing tastes of customers due to increased marketing and advertising . 1. OBJECTIVE OF THE STUDY Objective 1:- To study the relationship between store attribute perceptions and consumer satisfaction. Objective 2:- To examine non – linearities and asymmetric affects in the satisfaction – sales performance links based on mathematical empirical study . Objective 3:- Measurement of behavioral links between customer satisfaction and performance in fo od retail sector. Objective 4:- How firms can employ such results to develop appropriate customer satisfaction policies. Chapter 2 Literature Review 2. 1Passage to India 2. 2Food Retailing in India 2. Useful Information regarding McDonald’s Corporation 2. 4Useful Information regarding Pizzahut Inc. 2. 5Useful Information regarding Domino’s Inc. LITERATURE REVIEW Our study focuses on the relations between attribute perceptions, overall customer satisfaction and store sales performance. Such links are part of a broader conceptual framework proposed by Heskett et al. (1994), namely the Service-Profit Chain. Anderson and Mittal (2000) strengthened this framework by accommodating nonlinearities and asymmetries in the links, and they renamed it the Satisfaction-Profit Chain. Hereafter we use the acronym CSSP, Customer Satisfaction-Sales Performance, to refer to the links of interest. To capture the relationship between attribute perceptions and overall customer satisfaction, we must identify how customers interpret and respond to the products and services they buy and experience. Here it is essential to distinguish between specific attributes of a product or a service and the satisfaction factor they represent. In food retailing, for instance, consumers may put high value on a factor that might be called â€Å"customer service† provided by the supermarket. This is an example of an abstract or subjective benefit. This abstract benefit depends on a set of related measurable attributes such as the disposition of the cashiers and sales associates, speed and accuracy of checkout, and availability of everyday grocery items and store cleanliness, among others. In addition to customer service, other relevant factors affecting overall customer satisfaction in grocery stores include the store ambiance, the perceived roduct quality of (growing) perishables departmentsnow 50 percent or more of store sales in some storessuch as fresh produce, deli/bakery, seafood, fresh meat and floral, as well as the perceived value of products relative to their price. These links have been the subject of intense scrutiny by marketing researchers. Since the seminal behavior-oriented research by Oliver (1981), several articles have focused on the antecedents of customer satisfaction in a wide variety of contexts, ranging from firm-specific studies to nation-wide as sessments. Although satisfaction factors vary according to the type of products, services and business sectors considered, empirical studies provide vast evidence of their impact on overall satisfaction (e. g. Szymansky and Henard 2001). Most studies on antecedents of customer satisfaction utilize models reviewed by Johnson (1998) and show significant correlation between various satisfaction factors and overall satisfaction (Szymansky and Henard 2001; Bernhardt, Donthu and Kennett 2000; Mittal, Ross and Baldasare 1998; Wittink and Bayer 1994). In general, these studies tend to collect information on consumer ratings of specific attributes. Often, multivariate statistical models are constructed to identify latent variables representing satisfaction factors (e. g. Johnson and Gustafsson 2000; Johnson 1998; Fornell et al. 1996; Bolton and Drew 1991). In the majority of past research, overall customer satisfaction is then modeled as a linear function of these latent variables. Much recent research, however, is critical of the incomplete treatment of the CSSP links, and researchers call for more elaborate analysis (e. g. , Anderson and Mittal 2000). Addressing the Consequences of Customer Satisfaction Unlike the antecedents of satisfied customers, the consequences of satisfied (or dissatisfied) customers have received little attention from researchers (Szymanski and Henard 2001). Perhaps the first study was the pioneering research conducted by Zahorik and Rust (1992) on the consequences of customer satisfaction. Their work included a mathematical framework to evaluate the financial value of satisfaction (Rust and Zahorik 1993) based on the effect of satisfaction on customer retention, and the subsequent impact on market share. Anderson and Sullivan (1993) addressed the simultaneous estimation of the antecedents to and consequences of customer satisfaction, with data from more than twenty thousand Swedish consumers patronizing a hundred or so Swedish companies. Their model identifies factors that determine customer satisfaction, which in turn have a positive association with financial performance. Perhaps the most important contribution of this work is the identification of asymmetries in the linkages between disconfirmation of expectations and customer satisfaction. After Anderson and Sullivan (1993) , several studies have examined the relationships in the Satisfaction-Profit (or Service- Profit) Chain with data from a variety of channels (c. f. , Kamakura et al. , 2002; Scharitzer and Kollarits 2000; Soteriou and Zenios, 1999; Johnson 1998; Loveman 1998; Anderson, Fornell and Lehmann 1994). Mittal, Ross and Baldasare (1998) and Anderson and Mittal (2000) point out that, for the most part, earlier research ignored nonlinearities and asymmetries in the links of the CSSP chain. They maintain that the relationships in the CSSP chain are far more complex than originally postulated and, specifically, that linear models are insufficient. To illustrate the asymmetry concept, consider the quality of the produce department and the friendliness of cashiers in a supermarket. Stronger consumer evaluations of the quality of the produce department might not imply strongly positive effects on customer satisfaction, while weaker quality might be quite damaging. Or, improvements in customer-oriented dispositions of cashiers and associates could have a large positive impact on customer satisfaction while reductions in cashier performance may be only mildly negative. Now consider the potential role of nonlinearity in the link between customer satisfaction and sales performance. A retail store with low current levels of customer satisfaction may require only small investments in satisfaction drivers to improve sales performance. In contrast, a store with high current levels of satisfaction is likely to need a much larger investment in drivers to produce impacts on performance of a similar magnitude. Ignoring relevant nonlinearities and asymmetries inevitably leads to incorrect estimates of the linkages in the CSSP chain. Furthermore, if the results of CSSP chain research are to be adopted by retail managers, incorrect measures are certain to lead to incorrect strategy formulation thus dooming further strategic use of satisfaction data. Bernhardt, Donthu and Kennett (2000) suggest that another pitfall of many satisfaction studies is the tendency to rely on cross sectional analysis for statistical inference (Anderson, Fornell and Lehmann 1994, provides an exception). Bernhardt, Donthu and Kennett argue that a proper analysis of the links between satisfaction and performance requires a dynamic approach. This argument echoes Rust and Zahorik’s (1993) contention that efforts to improve customer satisfaction must be financially accountable over time. Bernhardt, Donthu and Kennett (2000) study customer satisfaction in a fast-food chain based on monthly data. Although based on simple correlations, the study shows that a dynamic model outperforms a cross-sectional model in the examination of the CSSP links. Extant research has focused primarily on the CSSP links at the aggregate level and for selected sectors such as telecommunications, banking, healthcare, automobile and pharmaceuticals, among others (cf. , Anderson and Fornell 2000; Scharitzer and Kollarits 2000; Mittal, Ross and Baldasare 1998; Bryant and Cha 1996; Anderson, Fornell and Lehmann 1994). Conversely, only a few firms include fast-food restaurants (Bernhardt, Donthu and Kennett 2000) and department stores (Rucci, Kirn and Quinn 1998) . Anderson and Mittal (2000) discuss several examples where the incorporation of non-linearities and asymmetries added significant value to a firms understanding of the CSSP links. It is especially desirable to use firm-specific data so the linkages between satisfaction and performance are examined in the context of a firm’s strategy. We note that academic research on the CSSP linkages in the food retail sector is scarce. Practically all empirical investigations on food retailing, in the U. S. as well as internationally, address the drivers of customer satisfaction but do not address their ultimate impact on store revenues. Among the drivers often identified are: perceived value of products relative to their prices, staff friendliness and willingness to help, quality and freshness of products, store appearance, and the degree of customer service (cf. , Jin and Jai-Ok 2001; Hackl, Scharitzer and Zuba 2000 ; Gail and Scott 1995). However, while the drivers of satisfaction are known qualitatively, and managers believe that satisfaction affects performance, it is necessary to measure explicitly the impact of satisfaction on store sales in order to prioritize strategies to manage the drivers of atisfaction. This study advances the measurement of the behavioral links in the CSSP Chain in the food retail sector. We link attribute perceptions, overall satisfaction, and store sales, and we allow for nonlinear and asymmetric effects. We specify the model in first differences and we allow for time lags between changes in satisfaction and changes in store sales performance. We also provide an example to show how ma nagers can use the results to develop appropriate customer satisfaction policies. 2. FOOD RETAILING: FAST FOOD INDUSTRY IN INDIA The concept of fast food isnt new. Early in the 19th century, at the start of the Industrial Age when people had to work 12 to 14 hours a day, there was scarcely any time for long breaks for eating. The first snack bars and kiosks arose in front of factories. Today, quick meals outside the home have become an essential part of our lifestyle. The term fast food means just that. However, the boundary between fast foods and traditional dishes is fluid. In particular, its difficult to provide a qualitative distinction because fast foods can also include salads and fruit in addition to classic offerings such as hamburgers, hot dogs, sandwiches, patties, French-fries, fish and chips, etc. The best way to distinguish fast foods is to use formal characteristics: Time required those who eat fast foods do not want to spend a lot of time selecting and eating, and if necessary will eat standing or walking, on the bus, park bench, or at work. The variety of foods and beverages is usually very limited Fast food frequently does not come with knives and forks, making it finger food. When silverware, cups and plates are necessary, they are disposable. The characteristics of fast food, therefore, are that they require little time, offer a limited selection, are finger food, and the silverware and plates are disposable. These characteristics readily illustrate the difference from traditional dining culture. Many people equate fast foods with conv enience foods. This is incorrect since convenience products are often eaten at home. They require active participation because they must be heated, stirred, baked, thawed, etc. , and are supplemented with other foods. There are three eneral categories of fast food businesses: Self-service restaurants with a fast-food palette like McDonalds, Wendys, Burger King, Pizza Hut, etc. Take-out (or take-away) businesses that sell ready-to-eat foods and beverages on the street corner Hot-dog stands and snack stands with counters or a pair of stand-up tables. FAST FOOD INDUSTRY OVERVIEW Fast food is a food prepared and served quickly at a fast food restaurant or a shop. It is served usually in a carton or bags in order to minimize cost. Fast food outlets often provide take away or take out foods in addition to sit down services. Fast food is a multi billion industry continuing to grow at a rapid pace in coming years. Fast food is often highly processed and prepared in an industrial fashion i. e. , with standard ingredient, methodical cooking and production methods. THE START OF FAST FOOD CULTURE The concept of fast food pops up during 1920s. The 1950s first witnessed their rapid proliferation. Several factors that contributed to this explosive growth in 50’s were: (1) America’s love affair with the automobiles. (2) The construction of a major new highway system. (3) The development of sub-urban communities. 4) The baby boom subsequent to world war second. â€Å"Fast-food chains initially catered to automobile owners in suburbia. The notion of fast food reflected American culture in which speed and efficiency are highly prized. † INDIA – EMERGING MARKET FOR GLOBAL PLAYERS The percentage share held by foodservice of total consumer expenditure on food has increased from a very low ba se to stand at 2. 6% in 2001. Eating at home remains very much ingrained in Indian culture and changes in eating habits are very slow moving with barriers to eating out entrenched in certain sectors of Indian society. Traditionally, eating out was looked down upon in Indian society. The growth in nuclear families, particularly in urban India, exposure to global media and Western cuisine and an increasing number of women joining the workforce have had an impact on eating out trends. Increasingly, eating out is becoming synonymous with entertainment. And very often, it is preferred as a time-saving option to cooking. Not surprisingly, takeaways are becoming increasingly popular India is among the top three countries globally having highest number of people in the spending capacities in the age group of 25-49 yrs. India is placed at the second rank in the 2004 global retail development index an annual ranking of retail investment attractiveness among 30 emerging markets. The lack of consolidation and model retail concepts in India presents better opportunity to global players. Over 400 shopping malls, multiplexes, fast food giants, restaurants etc. are in planning or construction stage across the country FACTS AND FIGURES Fast food is one of the worlds largest growing food type. India’s fast food industry is growing by 40% a year and is expected to generate a billion dollars in sales by 2005. The multinational segment of Indian fast food industry is up to Rs. 6 bn, a figure expected to zoom to Rs. 70 bn by 2005. By 2005, the value of Indian dairy products is expected to be Rs. 1, 00,000 million. In last 6 years, foreign investment in this sector stood at Rs. 3600 million which is about one-fourth of total investment made in this sector. Because of the availability of raw material for fast food, Global chains are flooding into the country. MARKET SIZE MAJOR PLAYERS ?Dominated by McDonalds having as many as 75 outlets. Domino’s pizza is present in around 100 locations. ?Pizza hut is also catching up and it has planned to establish 125 outlets at the end of 2005. ?Subways has established around 40 outlets ?Nirulas is established at Delhi and Noida only. However, it claims to cater 50,000 guests everyday. Major players in fast food are: ?MCDONALDS ?PIZZA HUT ?DOMINOS PIZZA Multinational fast-food companies have given domestic competition a run for its money. While McD onalds sells more than Nirulas, Pizza Hut and Dominos are doing more business than Pizza Corner. Within nine years of their existence in India since 1996, the multinationals have grown at a faster pace than their Indian counterparts. According to industry estimates, in 2001, while McDonalds clocked a turnover of about Rs 125 crore (Rs 1. 25 billion), the home-grown Nirulas, which has been present in the country since 1934, could only garner Rs 100 crore (Rs 1 billion) turnover. Also, both Dominos Pizza Hut and Dominos clocked a turnover of about Rs 60 crore (Rs 600 million) but Pizza Corner lagged behind with a turnover of Rs 25-30 crore (Rs 250-300 million). The main reason behind the success of the multinational chains is their expertise in product development, sourcing practices, quality standards, service levels and standardized operating procedures in their restaurants, a strength that they have developed over years of experience around the world. The home grown chains have in the past few years of competition with the MNCs, learnt a few things but there is still a lot of scope for improvement. We have applied our learning experience from other countries in all the processes including consistency, marketing, distribution and training to the local market conditions. Its now that the domestic chains have realized the importance of such practices. Nirulas is thus beefing up its organizational structure. Another key reason behind the success of multinationals is the ability to attract youngsters. While McDonalds has been able to attract people below 30, Dominos is targeting the convenience-seeker. Nirulas, on the other hand, is known to appeal more to the 30-plus consumer. Small wonder, Nirulas has launched its 21 range if ice cream cafes to attract the younger lot. The challenge for the home grown chains is also to reinvent themselves to appeal to the younger consumer. However, the domestic chains are at an advantage since they understand the Indian consumer behaviour and eating habits and their product offerings have been tailored accordingly. Multinational chains like McDonalds and Pizza Hut are still on a learning curve trying to customize their menu to the Indian taste and food preferences. Pizza Hut, for example, launched its masala range of pizzas and also opened the worlds first 100 per cent vegetarian outlet in India. Domino, on the other hand, has launched its peppy paneer pizza keeping in mind the Indian taste buds. The food service market in India is estimated to be around Rs 36,000 crore (Rs 360 billion), of which the urban fast food quick service restaurants is around Rs 1,000 crore (Rs 10 billion). This segment is witnessing high growth of around 25-30 per cent per annum so the market has a lot of potential to grow. REASON FOR EMERGENCE GENDER ROLES: gender roles are now changing. Females have started working outside. So, they have no time for there home and cooking food. Fast food is an easy way out because these can be prepared easily. CONSUMER SOPHISTICATION AND CONFIDENCE: consumers are becoming more sophisticated now. They do not want to prepare food and spend there time and energy in house hold works. They are building there confidence more on ‘ready to eat and easy to serve’ kind of foods PAUCITY OF TIME: people have no time for cooking. Because of emergence of working women and also number of other entertainment items. Most of the time either people work or want to enjoy with their family. DOUBLE INCOME GROUP: emergence of double income group leads to increase in disposable income. Now people have more disposable income so they can spend easily in fast food and other activities. WORKING WOMEN: working women have no time for cooking, and if they have then also they don’t want to cook. Because they want to come out of the traditionally defined gender roles. They do not want to confine themselves to household work and upbringing of children’s. MACRO-ECONMIC FACTOR AFFECTING THE INDUSTRY ?Increase in per capita income: There is continuous increase in the per capita income of the Indian citizens. More income in hand results into more spending in comforts and entertainment and thus results into more and more spending on fast and ready to serve kind of foods. Economic growth: With economic liberalization of 1991, more foreign and private industries entered the Indian market that result into income generation of the Indian residents – more income results into ore savings more savings means more investment – more investment results into overall growth of the economy. ?Large population: India being a second largest country in terms of popul ation possesses large potential market for all the products/services. This results into entry of large number of fast food players in the country. Relaxation in rules and regulations: with the economic liberalization of 1991, most of the tariff and non tariff barriers from the Indian boundaries are either removed or minimized. This helped significantly the MNC’s to enter in the country. ?Growth in number of womens in the work force: there is increase in the number of women work force in the recent years because of the improvement in the literacy rate and also because of the large number of jobs are now available because of the entry of foreign and private players in the Indian market. Menu diversification– increase in consumption of pizzas, burgers and other type of fast foods. CHALLENGES FOR THE INDUSTRY ?Social and cultural implications of Indians switching to western breakfast food: Generally, Hindus avoid all foods that are believed to inhibit physical and spiritua l development. Eating meat is not explicitly prohibited, but many Hindus are vegetarian because they adhere to the concept of ahimsa. Those seeking spiritual unity may avoid garlic and onions. The concept of purity influences Hindu food practices. Products from cows (e. g. , milk, yogurt, ghee-clarified butter) are considered pure. Pure foods can improve the purity of impure foods when they are prepared together. Some foods, such as beef or alcohol, are innately polluted and can never be made pure. But now, Indians are switching to fast food that contain all those things that are considered impure or against there beliefs. Some traditional and fundamentalist are against this transformation of food habit and number of times they provoke their counterparts to revolt against such foods. And that is what happened when McDonald’s decided to enter the complexity of Indian business landscape, counting only on its â€Å"fast food global formula†, without any apparent previous cultural training. ?Emphasis on the usage of bio-degradable products: Glasses, silverware, plates and cloth napkins are never provided with fast food. Instead, paper plates and napkins, polyurethane containers, plastic cups and tableware, drinking cartons or PET (polyethylene terephthalate) bottles are used, and these are all disposable. Many of these items are tossed in the garbage instead of being recycled, or even worse, merely thrown on the ground. This burdens nature unnecessarily and squanders raw materials. In order to reduce soil and water pollution, government now emphasis more on the usage of bio-degradable products. ?Retrenchment of employees: Most of new industries will be capital intensive and may drive local competitors, which have more workers, out of business. ?Profit repatriation: Repatriation of profits is another area of concern for Indian economy. As when multinational enters the any countries, people and government hope that it will increase the employment rate and result in economic growth. However, with the multinational operation, host country experiences these benefits for a short time period. In long run neither employment increases (because of capital intensive nature of MNC’s) nor it increases the GDP or GNP because whatever MNC’s earn they repatriate that profit back to their home country. PROBLEMS OF INDUSTRY ?Environmental friendly products cost high: Government is legislating laws in order to keep check on the fast food industry and it is emphasizing more on the usage of bio-degradable and environment friendly products. But associated with this issue is the problem that fast food player faces the cost associated with the environment friendly product. They cost much higher then the normal products that companies uses for packaging or wrapping their products. ?Balance between societal expectation and companies economic objectives: To balance a society’s expectation regarding environment with the economic burden of protecting the environment. Thus, one can see that one side pushes for higher standards and other side tries to beat the standard back, thereby making it a arm wrestling and mind boggling exercise. ?Health related issues: obesity: Studies have shown that a typical fast food has very high density and food with high density causes people to eat more then they usually need. ?Low calories food: Emphasis is now more on low calorie food. In this line McDonald has a plan to introduce all white meat chicken Mcnuugget with les fat and fewer calories. TRENDS IN INDIAN MARKET ?Marketing to chil drens: Fast food outlets in India target children’s as their major customers. They introduce varieties of things that will attract the children’s attention and by targeting children’s they automatically target their parents because Children’s are always accompanied by their parents. Low level customer commitment: Because of the large number of food retail outlets and also because of the tendency of customer to switch from one product to other (as food is one areas where customer wants to try everything new that comes to the market), this industry faces low level customer commitment. ?Value added technology services: There is continuous improvement in the technology as far as fast food market in India is considered. The reason behind that is food is a perishable item and in order to ensure that it remain fresh for a longer period of time, there is a need for continuous upgradation in technology. Earlier, Indian people prefer eating at home but now with the change in trend there is also need for improvement and upgradation of technology in food sector. ?Attracting different segments of the market: Fast food outlets are introducing varieties of products in order to cater the demands of each and every segment of the market. They are introducing all categories of product so that people of all age, sex, class, income group etc can come and become a customer of their food line. INTERNATIONAL TRENDS USA: ?Fast food chains are under fire from legal action. ?A Fat tax is being considered for implementation. North America, Western Europe and Japan together account 86% of total fast food market. UK: ?Fast food has grown by 5% since 2001and reached to $10. 1 billion. ?Bakery sector dominates in fast food. ?Largest market is of sandwiches. ?Burger is one of the weaker performing sector‘ German: ?Grown by 2% since 2001. ?Primarily younger generation and single ones visit such outlet s. ?Burger is the largest sector. ?Government policy is towards the reduction of garbage. Japan: ?Grown by 1. 5% since 2001 ?Japan has tailored its fast food to its countries population without sacrificing nutritional value. China: Growth of 14. 6% since 2001. ?Western style fast food successful in china market. France: ?Growth of 5. 8% since 2001. ?McDonalds France –most profitable subsidiary in Europe The success of fast foods arose from the changes in our living conditions: ? Many women or both parents now work ?There are increased numbers of single-parent households ?Long distances to school and work are common ?Usually, lunch times are short ?Theres often not enough time or opportunity to shop carefully for groceries, or to cook and eat with ones family. Especially on weekdays, fast food outside the home is the only solution. Today, only 40% of young college-age people eat lunch at home. Chiefly, but not exclusively, teenagers and young adults use fast food facilities when they need to catch a bite on the go. According to studies, 66% of young men and 33% of women in Switzerland eat one to two hamburgers a week, and half the teenagers eat French-fries once a week. The large chains have pulled out all the stops of modern marketing, targeting primarily young consumers. They entice their potential customers with TV spots, childrens parties, gifts for small children, and an ambiance that is generally child- and teenager-friendly. Large distributors, bakers and butchers, snack bars, and so on, also exploit the fast food trend and offer more take-out products. Its obvious that these campaigns are at the expense of traditional home dining culture. Experts have coined the term McDonaldization to describe this phenomenon. Some noticeable facts about fast food industry are: Fast food had experienced fast growth in past decade. Changing lifestyles, breakdown of joint family system, increasing number of working womens and western influence in urban areas are fuelling the demand for fast food. India already has the entire requirement for a head start in food industry. Basic materials such as food, vegetables and meat can be sourced locally or easily imported if local availability is not adequate. Food outlets are just beginning to appear in Indias big cities and this is a time for international chains to set a foothold. Competition will increase only with time Food Service Sector The food service sector in India consists of approximately 22,000 registered restaurants with sales of over $15,000 per month. In addition, there are more than 100,000 roadside restaurants (dhabas) in small stalls in cities and on highways, and 1,700 registered restaurants in hotels. The institutional sector consists of hospitals, prisons, defense establishments, schools, company canteens, railways, and airlines. The opportunity for U. S. food companies in India’s food service market is small but growing. Sales by Indian food service companies totaled approximately $6 billion in fiscal year 1999 (latest available data). Restaurants account for approximately 56 percent of Indian food service sales and institutional sales, about 39 ercent. Indian consumers spent only 2. 4 percent of their food expenditures in hotels and restaurants in fiscal year 1996. American consumers, by comparison, spent 46 percent of their food expenditures on away from- home meals. Hotel Restaurants The hotel industry is growing, and major hotel companies are currently expanding in the premium segment. An increase in Indian budge t travelers is expected to drive the long-term growth in the mid-range hotel sector. India has some excellent hotel chains, including: Indian Hotels Ltd. (Taj Group); East India Hotels Company Ltd. Oberoi Group); ITC Ltd. (Welcome Group); Asian Hotels; and Leela Venture. Several international chains such as Radisson, Best Western, and Quality Inn have also established a presence through franchising. These chains import around $30 million of food products, mainly wine and alcoholic beverages, fruits and vegetables, meat, sauces, and cheese. Growing demand from Indian hotels and consumers is driving growth in liquor imports. Sales of imported alcoholic beverages are growing at more than 50 percent per year despite very high duties. India’s current imports of processed vegetables are low, but have grown at more than 250 percent per year from fiscal year 1994 to 1998. The Indian government has recently allowed the import of many semi-processed vegetable preparations (previously restricted) under a special import license. While leading hotels note the excellent reputation of U. S. food products, cost is often identified as the constraint. Nevertheless, the hotel and tourism sectors (which have great potential in India) provide opportunities for U. S. exporters to position themselves. Hotels procure imported products through several chann