The Heroic Code Essay - 503 Words

The Heroic Code Often, epic heroes can be characterized the same way. They are portrayed as superhuman beings, possessing strength, physical beauty, and intelligence. These heroes aspired to live by a heroic code that would ensure immortality by keeping their memory alive in the people. Homers The Iliad shows how the heroic code was ingrained in ancient Greek warriors. In many cases, the Greeks put this code of honor above their own lives. During a battle, Glaukos, a Trojan, and Diomedes, an Achaian, encounter one another in a space between the two armies. By chance Diomedes asks who his enemy is. The two men then realize that their fathers were friends. To keep the family friendship alive, the men share a handshake of†¦show more content†¦The warriors concern for each other shows the deep-rooted value of life instilled in all Greeks. Hektor, a Trojan prince, also leads his life by the heroic code that separates the epic hero from the ordinary. Although his royal status distinguishes him from the regular citizen, his honorable deeds are what make him a model Trojan. He possesses a lack of regard for his own life, but for good reason. Hektor would rather live a short heroic life, and keep his name in good standing for his wife and son, than be known as a coward. He knows that if he is killed, Andromache will be made a slave so he feels as if he must leave her with a good name. Hektor wants Andromache to offer gifts to Athena in hopes that she will protect him. This shows his belief in the supreme power of the gods and the course of fate. Paris is another Trojan prince that lives his life similar to Hektors. However, Paris seems to take the war lightly. On a visit, Hektor inspires Paris to join the ranks in the battles that are taking place because of him. He knows that thousands are dying for his cause, and feels that the responsible thing to do would be to participate. His sense of honor forces him to be a leader, so that his name is not soiled. Paris then rushes to put on his armor and follow Hektor to the battle. In the end, Paris feels it is his destiny to fight at his brothers side and leadShow MoreRelatedThe Heroic Code1182 Words   |  5 PagesIverson The Heroic Code The life of a warrior is not always filled with glamour and glory. Warriors cannot simply waltz through a tough battle, shedding blood left and right and taking all the glory and credit for themselves. There are often tough decisions to be made. Warriors also cannot just think of themselves, for their decisions often affect the lives of others as well. They need the heroic code to guide them in their decision making. In this essay, I will describe the heroic code and shareRead MoreThe Heroic Code Of Sir Gawain841 Words   |  4 Pageshis journey that forced him to stay true to his Heroic Code. The principles that Sir Gawain demonstrated in the pursuit of the Green Knight are respecting women, service to the king with bravery, honor, and faith, and staying committed to his religious practices. Sir Gawain kept these guidelines true to his heart throughout his expedition to defeat the Green Knight and to defend the honor of King Arthur’s round table. A major example of the heroic code that Sir Gawain demonstrated is honoring KingRead MoreThe Heroic Code Of Honor For A Hero1228 Words   |  5 PagesWarriors of ancient Greece were considered heroes by following the Heroic Code of excellence. They achieved this by acquiring a kleos; establishing fame, glory and a positive reputation. It was not an easy task to become a Grecian hero. Building and maintaining kleos meant that a warrior must be brave and strong, be â€Å"a speaker of words and a doer of deeds.† The solider had to protect his friends and harm his enemies, respect the gods and his elders, and most of all value his honor over his life.Read MoreThe Heroic Code Of The Epic Of Beowulf Essay939 Words   |  4 PagesAs we have learned, one of the most important features of the heroic code common among ancient epics is the preservation of the hero’s legacy. In Beowulf, a very large portion of the story narrates Beowulf’s accumulation of wealth, power, an d most importantly fame through martial prowess and peerless leadership. This accumulation of glory in battle is crucial if the hero wishes to ensure that his name and legacy live on after he dies. This abruptly brings me to my main focus: Wiglaf. I believe Wiglaf’sRead MoreThe True Hero : Exploring Heroic Code1308 Words   |  6 Pages The True Hero: Exploring Heroic Code in Germanic Society In the great epic Beowulf, the reader is able to delve into the Anglo-Saxon world and grow familiar with the heroic code. As a story passed from mouth to mouth as generations came and went, Beowulf still stands as one of the greatest heroic epics. The story teaches the reader a great deal about the time when it was written. In a world so heavily influenced by the perfect hero, the Anglo-Saxon people were able to look onto Beowulf as a sourceRead MoreThe Heroic Code Of Homer s Iliad1208 Words   |  5 Pages Homer’s Iliad depicts a tale of war that focuses on various human-centered themes that focus on describing the kind of people that ought to strive to become. This is characterized by the heroic code, which is the ultimate desire of each hero in the epic poem. The heroic code, according to Homer, focuses on the simple premise of a hero achieving honor, which is also understood to be peer-received esteem. Homer depicts this important value as what most humans would seek to a chieve, because this importantRead MoreEssay about Heroic Code in the Iliad and the Odyssey979 Words   |  4 PagesHeroic Code in the Iliad and the Odyssey In Websters Dictionary, a hero is defined as a person noted for courageous acts or nobility of purpose, especially if this individual has risked or sacrificed his life. In the Iliad and the Odyssey, the code which administers the conduct of the Homeric heroes is a straightforward idea. The aim of every hero is to achieve honor. Throughout the Iliad and the Odyssey, different characters take on the role of a hero. Honor is essential to the HomericRead MoreBeowulf And The Germanic Heroic Code Of Values, Traditions, And Customs1522 Words   |  7 Pagesand the Germanic Heroic Code in Beowulf are revealed throughout the epic poem as important aspects of the Anglo-Saxon culture as a whole. The Germanic warrior society had an unspoken code – a list of rules that warriors and kings alike must uphold. The main aspects of this code for warriors were strength, courage, loyalty and honour; and for kings were loyalty to his warriors, generosity and a sense of responsibility. The character of Beowulf represents both sides of this Code very well. HrothgarRead MoreThe Germanic Heroic Code in Caedmons Hymn, The Dream of the Rood, and Beowulf539 Words   |  2 Pages Texts such as Caedmons Hymn, The Dream of the Rood and Beowulf have been inspired from the Germanic code of the warrior and from Christian passages and it is likely for people today to relate to these two sources when coming across these respective texts today. The Germanic heroic code has been a major influence when considering Beowulf and the fact that the poem emphasizes the importance of values like courage, loyalty, generosity. Similarly, Caedmons Hymn is probably one of the mostRead MoreThe Iliad: Literary Analysis1552 Words   |  7 Pagesvalor. The heroic code was a strict morality that dealt with matters relating to honor and integrity in battle. Seeing as the code was focused around honor during war, it was taken very seriously by the Greeks of Homer’s time, since honor was essential to Homer’s heroes. One hero in The Iliad best represented the heroic code through his actions and his mentality; this character is â€Å"swift-footed† Achilles, though Hec tor could also be considered as the man that is the epitome of the heroic code. It could

Issues and Challenges for Women Entrepreneurs in India

ISSUES AND CHALLENGES FOR WOMEN ENTREPRENEURS IN INDIA S. BALASUBRAMANYAM* Abstract More than ever before, Change is the only constant in life, especially so in industry, and as a consequence, tremendous opportunities are opening up for women entrepreneurs. It is true that the presence of women entrepreneurs is very low in India, but you can look at it as another great opportunity riding on this all-pervasive change – and not as an obstacle toughening the entry barrier further for women in industry. Barely a decade ago, had few people anticipated that the proportion of women in call centres and IT industry would rise to be what it is today? Similarly, women as entrepreneurs can be a game changer and change the rules of the†¦show more content†¦There is an urgent need for changing the attitude towards women to bestow equal rights as enshrined in the constitution. The progress towards gender equality is slow and is partly due to the failure to attach money to policy commitments. In the words of former president Mr. APJ Abdul Kalam, empowering wom en is a prerequisite for creating a good nation, when women are empowered, society with stability is assured. Empowerment of women is essential as their thoughts and their value systems lead to the development of a good family, good society and ultimately a good nation. When a woman is empowered, it does not mean that another individual becomes powerless or is having less power. On the contrary, if a women is empowered her competencies towards decision- making will surely influence her familys performance. In advanced countries, there is a phenomenon of increase in the number of self- employed women after the world war second. In USA, women own 25% of all business, even though their sales on an average are less than two-fifths of those of other small business. In Canada, women own one-third of small business; and, in France, it is one-fifth. Concept of Entrepreneur The concept of entrepreneur can be well understood by Dr. APJ Kalam’s portrayal of entrepreneur mentioned below: 1. Vision and pioneering spirit. 2. Being able to see possibilities where others do not. 3. Always searching for new opportunitiesShow MoreRelatedEssay On Social Entrepreneurship Among Dalits And Tribes Of India1424 Words   |  6 PagesENTREPRENEURSHIP AMONG DALITS AND TRIBES OF INDIA: CHALLENGES AND ACHIEVEMENTS RAJESH KUMAR. MD RESEARCH SCHOLAR, DEPARTMENT OF SOCIAL WORK, OSMANIA UNIVERSITY, HYDERABAD, TELANGANA STATE, INDIA . MAIL ID: mdrajeshk@gmail.com MOBILE. NO: +91 9154324766. Abstract Social entrepreneurship promotes the most innovative solutions to the most pressing social problems of a society. The mission behind origin of social enterprises is to bring social change. Social entrepreneurs are considered as the change agentsRead MoreUnilever in India- Hindustan Lever’s Project Shakti1628 Words   |  7 Pagescommoners who live in the beautiful land of India. Motivation As a profit organization, the ultimate goal of HLL is still to generate more profit to expanding shareholders’ interest and keep the company operating as a gonging-concern. So Project Shakti is in progress as a rural marketing strategy which is considered to be a quintessential win-win initiative that paying more attention to better-off all the stakeholders and the economy atmosphere of rural India. As the notions changing along with purchasingRead MoreIct Entrepreneurship For Social Impact Essay1513 Words   |  7 Pagesis in line with ITU’s work in unlocking the potential of ICTs for young innovators and entrepreneurs, innovative SMEs, start-ups and technology hubs as drivers of innovative and practical solutions for catalyzing progress in achieving international sustainable development goals, with a focus on SMEs from developing countries like Bangladesh. Body: The report is rooted in the stories of social entrepreneurs and how they are creating widespread impact across a wide range of fields, from educationRead MoreUnilever in India -Project Shakti1611 Words   |  7 PagesU 2011 Unilever in India: Hindustan Lever’s Project Shakti- Marketing FMCG to the Rural Consumer Riddhi Biswas PGP/14/236 Section E â€Æ' Q1. What are the key features of Shakti? What are its positive aspects and what are its drawbacks? Key features of Shakti: Axiomatic truly , ‘Rural caravan’ of HUL as it can be popularly called is Project Shakti. Untapped and unexplored for years Indian rural market remain unnoticed and undiscovered as par as the business opportunities, especiallyRead MoreEmerging Entrepreneur Trends2567 Words   |  11 PagesTIMSR, MUMBAI Abstract: Purpose – The purpose of this paper is to examine key emerging trends in Entrepreneurs in India its reasons for growth and impact towards economy and society as a whole. Design /approach – The paper is primarily theoretical and observational. It is based on the review of major academic and managerial publications, it also include personal interview with few entrepreneurs. Findings – Entrepreneurship activity has gone through overhaul process through last two decadesRead MoreSocial Entrepreneurship : Growth And Challenges2024 Words   |  9 PagesGrowth and Challenges Khushbu Sakalle Student Stratford University Falls Church Campus â€Å"Entrepreneurship based on purposeful and systematic innovation. It includes not only the independent businessman but also company directors and managers who actually carry out innovative functions.†Ã¢â‚¬â€Schumpeter, (1939) INTRODUCTION â€Å"What is Social entrepreneurship? It is generally defined as -Entrepreneurship activity impacting directly impacting the social purpose.† The terms social entrepreneur and socialRead MoreWomen Entrepreneurs And Social Incubators1879 Words   |  8 PagesCHAPTER 2 LITERATURE REVIEW In this chapter literature on women entrepreneurs and social incubators is discussed. It also explains the conceptual framework and conceptual map of the study.. 2.1 Concept of Women Entrepreneur Women or a group of women who initiate, organize and operates a business enterprise is defined as Women Entrepreneurs’. The Government of India has defined women entrepreneurs as an enterprise owned and controlled by women having a minimum financial interest of 51 per cent of theRead MoreWomen Entrepreneurs And Social Incubators Essay1851 Words   |  8 PagesIn this chapter literature on women entrepreneurs and social incubators is discussed. It also explains the conceptual framework and conceptual map of the study.. 2.1 Concept of Women Entrepreneur Women or a group of women who initiate, organize and operates a business enterprise is defined as Women Entrepreneurs’. The Government of India has defined women entrepreneurs as an enterprise owned and controlled by women having a minimum financial interest of 51 per cent of the capital and giving at leastRead MoreUttar Pradesh and Tamil Nadu: A Comparative Study in Micro-Finance1699 Words   |  7 PagesReview- Studies analyzing the Micro Financing in India- Micro finance has been a field which has attracted a lot of research work. A review of the major research works of economists and sociologists provide us with interesting insights on issues related to microfinance. Seibel and Parhusib (1990) in their study mentioned that expansion of credit coverage through state interventions approach was largely based on the premise that rural micro entrepreneur are unable to organize themselves. Thus they wouldRead MoreWomen Empowerment Through Entrepreneurship3066 Words   |  13 Pagessociety. They are the driving forces behind Indian economy. Entrepreneurs are people who come out with an new ideas , innovations , do things, which are not generally done in the ordinary course of a business. Empowerment of women entrepreneur is an new mantra for development of economy. The present paper focuses mainly women entrepreneur ,they still represent a minority of all entrepreneurs. It is observed that women entrepreneur networks are major sources of knowledge about women’s entrepreneurship

Harshad Mehta Scam Free Essays

string(95) " must recognize that as long as the scam lasted, the banks benefited from such an arrangement\." Harshad Mehta scam: Harshad Mehta  was an Indian stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system, Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments, triggering a rise in the Sensex. When the scheme was exposed, the banks started demanding the money back, causing the collapse. We will write a custom essay sample on Harshad Mehta Scam or any similar topic only for you Order Now He was later charged with 72 criminal offenses and more than 600 civil action suits were filed against him. He died in 2002 with many litigations still pending against him. 3. 1 Ready Forward Deal (RF): †¢ The crucial mechanism through which the scam was effected was the Ready Forward deal. †¢ The Ready Forward Deal (RF) is in essence a secured short term (typically 15 day) loan from one bank to another bank. The lending is done against Government Securities exactly the way a pawnbroker lends against jewelry. †¢ In fact one can say that the borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan at (typically) a slightly higher price. It was this RF deal that Harshad Mehta and his associates used with great success to channel money from banking system. 3. 2 The Mechanics of the Scam: As explained above, a ready forward deal is, in substance, a secured loan from one bank to another. To make the scam possible , the RF had to undergo a complete change. In other words it practically had to become an unsecured loan to broker. This was wonderfully engineered by the brokers. To give a better understanding of the mechanism, the whole process has been segregated into 3 different parts. . The settlement process 2. Payment cheques 3. Dispensing the security 1. The settlement Process: ? The normal settlement process in government securities is that the transacting banks make payments and deliver the securities directly to each other. ? During the scam, however, the banks or at least some banks adopted an alternative settlement process which was similar to the process used for settling transactions in the stock market. ? In this settlement process, deliveries of securities and payments are made through the broker. That is, the seller hands over the securities to the broker who passes them on to the buyer, while the buyer gives the cheque to the broker who then makes the payment to the seller. ? In this settlement process, the buyer and the seller may not even know whom they have traded with, both being known only to the broker. ? There were two important reasons why the broker intermediated settlement began to be used in the government securities markets. ? The brokers instead of merely bringing buyers and sellers together started taking positions in the market. In other words, they started trading on their own account, and in a sense became market makers in some securities thereby imparting greater liquidity to the markets. ? When a bank wanted to conceal the fact that it was doing an RF deal, the broker came in handy. The broker provided contract notes for this purpose with fictitious counter parties, but arranged for the actual settlement to take place with the correct counter party. 2. Payment Cheques: ? A broker intermediated settlement allowed the broker to lay his hands on the cheque as it went from one bank to another through him. The hurdle now was to find a way of crediting the cheque to his account though it was drawn in favor of a bank and was crossed account payee. ? As it happens, it is purely a matter of banking custom that an account payee cheque is paid only to the payee mentioned on the cheque. In fact, exceptions were being made to this norm, well before the scam came to light. ? Privileged (corporate) customers were routinely allowed to credit account payee cheques in favour of a bank into their own accounts to avoid clearing delays, thereby reducing the interest lost on the amount. Normally, if a customer obtains a cheque in his own favour and deposits it into his own account, it may take a day or two for the cheque to be cleared and for the funds to become available to the customer. At 15% interest, the interest loss on a clearing delay of two days for a Rs. 100 crores cheque is about Rs. 8 lakhs. ? On the other hand, when banks make payments to each other by writing cheques on their account with the RBI, these cheques are cleared on the same day. ? The practice which thus emerged was that a customer would obtain a cheque drawn on the RBI favoring not himself but his bank. The bank would get the money and credit his account the same day. ? This was the practice which the brokers in the money market exploited to their benefit. 3. Dispensing the security: ? The brokers thus found a way of getting hold of the cheques as they went from one bank to another and crediting the amounts to their accounts. This effectively transformed an RF into a loan to a broker rather than to a bank. ? But this, by itself, would not have led to the scam because the RF after all is a secured loan, and a secured loan to a broker is still secured. What was necessary now was to find a way of eliminating the security itself! There are three routes adopted for this purpose: 1. Some banks (or rather their officials) were persuaded to part with cheques without actually receiving securities in return. A simple explanation of this is that the officials concerned were bribed and/or negligent. A more intriguing possibility is that the banks’ senior/top management were aware of this and turned a Nelson’s eye to it to benefit from higher returns the brokers could offer by diverting the funds to the stock market. One must recognize that as long as the scam lasted, the banks benefited from such an arrangement. You read "Harshad Mehta Scam" in category "Papers" The management of banks might have been sorely tempted to adopt this route to higher profitability. 2. The second route was to replace the actual securities by a worthless piece of paper – a fake Bank Receipt (BR). This is discussed in greater detail in the next section. 3. The third method was simply to forge the securities themselves. In many cases, PSU bonds were represented only by allotment letters rather than certificates on security paper. And it is easier to forge an allotment letter for Rs. 100 crores worth of securities than it is to forge a 100 rupee note! Outright forgery of this kind however accounted for only a very small part of the total funds misappropriated 3. Bank Receipt: ? In an RF deal, as we have discussed it so far, the borrowing bank delivers the actual securities to the lender and takes them back on repayment of the loan. In practice, however, this is not usually done. Instead, the borrower gives a Bank Receipt (BR) which serves three functions: ? The BR confirms the sale of securities. ? It acts as a receipt for the money received by the selling bank. Hence the name – bank receipt. ? It promises to deliver the securities to the buyer. It also states that in the meantime the seller holds the securities in trust for the buyer. ? In short, a BR is something like an IOU (I owe you securities! ), and the use of the BR de facto converts an RF deal into an unsecured loan. The lending bank no longer has the securities; it has only the borrower’s assurance that the borrower has the securities which can/will be delivered if/when the need arises. BRs issued without Backing of Securities: ? As stated earlier, a BR is supposed to imply that the issuer actually has the securities and holds them in trust for the buyer. But in reality the issuer may not have the securities at all. ? There are two reasons why a bank may issue a BR, which is not backed by actual securities: 1. A bank may short sell securities, that is, it sells securities it does not have. This would be done if the bank thinks that the prices of these securities would decrease. Since this would be an outright sale (not an RF! ), the bank issues a BR. When the securities do fall in value, the bank buys them at lower prices and discharges the BR by delivering the securities sold. Short selling in some form is an integral part of most bond markets in the world. It can be argued that some amount of shortselling subject to some degree of regulation is a desirable feature of a bond market. In our opinion, an outright sale using a BR, which is not backed by securities, is not harmful per se though it violates the RBI guidelines. 2. The second reason is that the bank may simply want an unsecured loan. It may then do an RF deal issuing a â€Å"fake† BR which is a BR without any securities to back them. The lending bank would be under a mistaken impression that it is making a secured loan when it is actually advancing an unsecured loan. Obviously, lenders should have taken measures to protect themselves from such a possibility During the scam, the brokers perfected the art of using fake BRs to obtain unsecured loans from the banking system. They persuaded some small and little known banks – the Bank of Karad (BOK) and the Metropolitan Cooperative Bank (MCB) – to issue BRs as and when required. These BRs could then be used to do RF deals with other banks. The cheques in favour of BOK were, of course, credited into the brokers’ accounts. In effect, several arge banks made huge unsecured loans to the BOK/MCB which in turn made the money available to the brokers. 4. Breakdown of the Control system in scam: ? The scam was made possible by a complete breakdown of the control system both within the commercial banks as well as the control system of the RBI itself. ? We shall examine these control systems to understand how these failed to function effectively and what lessons can be learnt to prevent fai lure of control systems in the future. ? The internal control system of the commercial banks involves the following features: 1. Separation of Functions: The different aspects of securities transactions of a bank, namely dealing, custody and accounting are carried out by different persons. 2. Counterparty Limits: The moment an RF deal is done on the basis of a BR rather than actual securities, the lending bank has to contend with the possibility that the BR received may not be backed by any/adequate securities. In effect, therefore, it may be making an unsecured loan, and it must do the RF only if it is prepared to make an unsecured loan. This requires assessing the creditworthiness of the borrower and assigning him a â€Å"credit limit† up to which the bank is prepared to lend. Technically, this is known as a counterparty limit. 5. Other Aspects of the scam: ? There are several aspects of the scam which are closely related to the securities markets, but which are different from the operational aspect of the markets. ? These pertain to information that can cause significant changes in the prices of securities as well as the information supplied by the commercial banks on their financial performance. ? On each occasion the coupon rate was increased by 1/2%, thereby raising the coupon rate from 11. 5% to 13% during this ten month period. The major implication of raising interest rate on new borrowings is that it would trigger a fall in the market prices of the old loans which are pegged at the old (lower) interest rates. The price of the 11. 5% Government Loan 2010 dropped by 3% to 5% with each coupon rate hike. If anyone has advance information about these changes in the coupon rates, he could make enormous amounts of riskless profit by short selling the old securities just before the announcement of rate hike and buying back (covering his position) after the prices have fallen. ? Somebody who took a short position of Rs. 00 crores before the coupon hike of September 1991 could have made a profit of Rs. 15 crores, practically overnight! Since several persons in the Finance Ministry and the RBI are likely to be aware of the impending hike in the coupon rate, the chance of leakage of this all important information is always there. ? There have been several allegations in this regard. However, it will probably be very difficult to prove with any degree of certainty that there was insider trading based on information about coupon rate changes, because of the size of the market. With a daily trading volume of Rs. 3000 – 4000 crores, it would have been very easy for anyone to take a position (based on inside information) of Rs. 500 or even Rs. 1000 crores without anyone suspecting anything untoward. 6. Impact of the scam: ? The immediate impact of the scam was a sharp fall in the share prices. The index fell from 4500 to 2500 representing a loss of Rs. 100,000 crores in market capitalization. [pic] ? Since the accused were active brokers in the stock markets, the number of shares which had passed through their hands in the last one year was colossal. All these shares became â€Å"tainted† shares, and overnight they became worthless pieces of paper as they could not be delivered in the market. Genuine investors who had bought these shares well before the scam came to light and even got them registered in their names found themselves being robbed by the government. This resulted in a chaotic situation in the market since no one was certain as to which shares were tainted and which were not. ? The government’s liberalization policies came under severe criticism after the scam, with Harshad Mehta and others being described as the products of these policies. Bowing to the political pressures and the bad press it received during the scam, the liberalization policies were put on hold for a while by the government. The Securities Exchange Board of India (SEBI) postponed sanctioning of private sector mutual funds. ? The much talked about entry of foreign pension funds and mutual funds became more remote than ever. The Euro-i ssues planned by several Indian companies were delayed since the ability of Indian companies to raise equity capital in world markets was severely compromised. How to cite Harshad Mehta Scam, Papers

Cultural Analysis of Russia

Question: Discuss about theCultural Analysis of Russia. Answer: Introduction National culture of a country tells about the environment, culture, language, behaviour and patterns of the market etc. this report is basically describing the market culture of Russia compared to Singapore in terms of Personal Communication, Values and Attitudes, social structure and the education. Along with this, there will be the comparison with the Singapore including business style, manager managing style and negotiation ways. Culture can be described as the various range of the obtained or learnt behaviour by the human being of the country. There are unique and different behaviours in the human society. So, a society can be easily differentiated by observing the different culture. The culture includes beliefs, norms, morals, knowledge, ethics, customs, law and many other factors. This report will focus on the cultural differences between the Singapore and Russia. Country Description Russia is the largest country in the world. The country has rich culture and distinguished itself in terms of vast history and geography. The organizations who wish to develop the successful business with the penetration strategy, the Russian market is suitable for them. For the organization, it is very important to understand the Russian social and business culture. Russia has made the valuable contribution to the work culture (Guseva, 2013). This country has given not only great classics but also fine arts to the world. Along with this, Russia is one of the top emerging markets in the world. It is also considered as the most difficult place to do business. From the business operations to cultural trends, Russia is the country of evolution. The transition of the Russia has challenging and ongoing culture. The Russian approach is different from the western approach in terms of identifying, managing and solving the problems (RUSEMB, 2016). Key Attributes of the Country Before starting the business in the Russia, it is very important to understand culture and background of the country. The key factors of the country are as follows: Collectivism: Because of its history, there is a strong societal skills and that is reflected in the business practices of Russia. Russia has diverse climate conditions which is very helpful in cooperation and collaboration. The climate condition of Russia is very helpful to gain competitive advantage and also has been important for the survival. There is the sense of togetherness in the Russian culture. Togetherness is the important traits that differentiate the Russian Culture from Western culture. In the organization, people work together in the organized and self-managed group of people (GASME, 2016). Equality: This is an important concept of the Russian business that people get equal treatment and that supports the inequality and promotes the equal benefits to the employees. In the Russian market and the Russian business, the equality is very important strategy to gain the mutual advantage. Russia believes in the co-equal (Burgess Sharar, 2014). Resources: Russia is the vast and diversified nation. There are largest resourcesof raw material, oil and gas revenues that are helpful to increase the economy of Russia. In the big cities of the country, there is a consumer economy and because of this, the financial position of the country is raising and investors have trust on Russias economic scenario (Bergelson, 2013). Cultural Analysis The culture of Russia has a long history. Russia has a long tradition of arts in terms of philosophy, literature, music, architecture, animation and it has the power to influence the world. The country also has the combination of mixed material culture and traditional culture in technology. Now a day, the culture of the Russia got seventh rank in terms of heritage in the National Brands Index. Along with this, the culture of Russia is also involved in modern organization and international tourism (Maclachlan, 2010). The analysis of Russian culture is given below: Aesthetics The Russian market of Aesthetics is very difficult to measure. The reason is that there is lack of official bodies that regulate the market. But according to a report by Research and Market, the market of Russian Aesthetics is booming and also going from strength to strength. According to the research, The Russia is growing compared to many European countries. In terms of medicine market, Russia was ranked 14th in the world aesthetics medicine market. Personal Communication The communication style in Russia is influenced by the English language. Many young entrepreneurs use English language while other uses European language. With the different cultures, business managers use written method rather than speaking the words. By this, the businessmen build the relationship with their partners. In Russia, people listen silently and use little obvious body language. This is the cultural characteristics of Russian people. Russian wait and think before responding at any point (Aleksanteri news, 2015). Education Russia has one of the best education systems in the world. The percentage of literacy in Russia is 98% that is the higher percentage compared to western European Countries. In the education system of Russia, there are both basic education and higher education and in Russia, the education is compulsory for every child between the ages of 6 and 15. Values and Attitude The attitude of Russian People to life is driven by the climate, culture and the size of the country. Russians have preference towards the judgement attitudes. Russians are always ready to raise their voice on any matter, and they expect everyone to be morally judged. Many Russians have the attitude of having no control over the world. Along with this, Russian always thinks and behaves logically (MasterRussian, 2015). Manners and Customs There are still many customs and rituals celebrated in the Russia. The people in Russia still celebrate the pagan holidays and there are many people who believe in legends. Old traditions in Russia are passed on from generation to generation. Social Structure The social structure of Russia is different in terms of human rights of its people. The country is far from the particular laws. The country makes policies for human rights. The reason of this is that the society of Russia never lived in democratic command (Laruelle, 2015). Figure 1: Social Structure of Russia (Source: Laruelle, 2015) The social structure of Russia is given in the figure. This is the standard of living in Russia. The standard of living is higher but is different in every region. The employees who are in financial sector, they get the highest salary in Russia. Apart from this, there is one more thing i.e. the people of Russia consider themselves strangers in interacting with others having same nationality. Comparing with Singapore Before comparing both of the countries, it is important to understand the market culture of Singapore. Singapore is the multiethnic country having the mixture of Chinese, Indian, and Eurasian societies. Singapore is the suitable place for the businessmen for doing business. There is the business culture for all the religions. But there are many rules, policies and protocols that are compulsory to follow by the businessmen (Wood, Miller Gold, 2010). The difference between Singapore and Russia in terms of business culture is as follows: Managers Managing Style In the most corporate of Singapore, managers try to stick and follow the proper management policies. Majority of the companies have top-down management style in Singapore that brings innovation and creativity in the business (Mun Ying, 2009). On the other hand, as stated above, managers in the company are centralized and directives. Company uses hierarchy of management i.e. senior manager, middle manager and lower manager. Business Style In Singapore, business style is very straight forward and very formal as compared to other western countries. There are very strict rules and protocols to operate the business. The people of Singapore are very sensitive but they control their behaviour in public. The business culture in Singapore is competitive and has strong work ethics. On the other hand, in Russia, business cards are important for ding the business. There are many principles that are concerned for informal environment but still there are totally formal environment in business style of Russia (Stewart, Sprinthall, and Kem, 2002). Negotiation Ways In Singapore, companies use negotiation style in the formal way. They value the business relationship rather than short term gains they do not confronts anyone in the negotiating time. Along with this, they avoid the conflicts (Zarkada-Fraser and Fraser, 2001). On the other hand, Russian only negotiates when they consider that another party is serious in negotiation. They show patient in negotiation and see the negotiation as win-lose. During the negotiation, Russian confronts another party (Shikhirev, 2000). Hofstedes Study of Culture Hofstede had developed the dimensions to measure the culture of a nation. There are five dimensions developed by Hofstede of national culture. By the dimension, Hofstede became able to identify how the patter of culture of behaviour solve a problem how the behaviour of the country can be compared with other cultures. Figure 2: Hofstede Cultural Analysis (Source: Puffer Naumov, 2000) Power Distance This dimension shows the attitude of the culture towards the distribution of power. It believes that the distribution of power should not be equal. Russia is the highest power distance country in the world and it has scored 93% in terms of power holding. Individualism This dimension focuses on the degree of interdependence a society maintained by the members. In this dimension, Russia has scored lower. It has scored 39% because of diverse relationship in the country (Puffer Naumov, 2000). Masculinity This dimension indicates that the society is dependent upon the competition, achievements, and success. Russia has scored 36% because of having status symbol. There is the fact that Russians at workplace as well as when meeting a stranger rather understate their personal achievements, contributions or capacities. Uncertainty Avoidance This dimension focuses on the fact that future can never be known. Scoring 95 Russians feel very much threatened by ambiguous situations, as well as they have established one of the most complex bureaucracies in the world. Long Term Orientation This dimension discuss about how the society maintains the past and deals with challenges for present and future. With a very high score of 81, Russia is definitely a country with a practical and realistic mindset. The Russians show the capability to adapt the traditions and to change the conditions. Conclusion The report has been described about the Russian and culture and the market environment of the country. From the above discussion, it has been analyzed that various range of the obtained or learnt behaviour by the human being of the country. There are unique and different behaviours in the human society. Russia is the largest country in the world. The country has rich culture and distinguished itself in terms of vast history and geography. For the organization, it is very important to understand the Russian social and business culture. From the business operations to cultural trends, Russia is the country of evolution. The transition of the Russia has challenging and ongoing culture. Focusing on key attributes of Russia, it has been observed that Russia has diverse climate conditions which are very helpful in cooperation and collaboration. The climate condition of Russia is very helpful to gain competitive advantage and also has been important for the survival. Comparing with Singapor e, it has been analyzed that both the countries have little similarities but in negotiation style, negotiates when they consider that another party is serious in negotiation. But it is easy to do in business in Russia compared to Singapore because but there are many rules, policies and protocols in Singapore that are compulsory to follow by the businessmen. References Aleksanteri news. (2015). culture and Russian society. Retrieved on 21st November 2016 from https://www.helsinki.fi/aleksanteri/english/news/newsletters/AN_15_3-4.pdf Bergelson, M. B. (2013). Russian cultural values and workplace communication styles. 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