Mergers and Acquisitions Paper Research Example | Topics and Well Written Essays - 1500 words

Mergers and Acquisitions - Research Paper Example By this process, the merging companies aim to enhance their long term profitability by expanding their operations. In contrast, acquisitions occur between the bidding company and the target company and it may be either hostile or friendly. Under acquisition, often it is seen that bidding company purchases the assets of the target company. There are several types of M&A and the mode is chosen according to the nature, market position, and requirements of concerned companies. This paper will examine five types of M&A such as horizontal, vertical, congeneric, conglomerate and spin-offs using recent examples. 1. Horizontal M&A In the case of a horizontal M&A, two competing companies merge together so as to take advantage of its same product lines and markets. This strategy reinforces the market position of the integrated firm since the large scale production considerably minimizes the cost of production and thereby increases the profitability. It is precise that the large scale operations will certainly increase the market reputation of the integrated firm which would in turn enable the firm to negotiate successfully with its suppliers and buyers. In the opinion of Frensch (2007), a horizontal M&A aids the integrated firm to divide the labor among different large organizational units effectively. Merger between Daimler- Benz of Germany and Chrysler Corporation of United States is a good example for horizontal mergers. 2. Vertical M&A Zain (2008) states that a ‘customer-company or company-supplier relationship’ is reflected when two companies are merged under vertical M&A concept. Scholars opine that vertical M&A mitigates market uncertainties and thereby promotes decrease in transaction costs. According to Buhner (as cited in Frensch, 2007, p. 46), these transaction cost may include search and information cost, contract conclusion cost, quality control cost, and administration and taxation costs Amalgamation of Apple with Intel can be termed as a vertic al merger. 3. Congeneric M&A Congeneric M&A is a merging strategy where two companies in the same or related industries offering different product lines merge together. In other words, these companies would not have common customer or buyer. Under congeneric M&A, it is observed that the merging companies may share similar distribution channels. A well popularized congeneric merger is Citigroup’s acquisition of Travelers’ Insurance. 4. Conglomerate M&A A conglomerate M&A refers to the merger of two organizations that are engaged in totally unrelated business operations. In most cases, the merging companies would be operating in different geographical areas. It is a best available strategy for extending business territories and extending product ranges. However, it is noted that conglomerate mergers occurs rarely as a result of strategic failures. It has been identified that Kelso’s acquisition of Nortek was a conglomerate merger. 5. Spin-offs Under this technique , an existing business division of a parent company distributes new shares so as to create an independent company. It can be reflected as a type of divestiture. Business houses wishing to reshape their structure often sell less productive businesses as spin-offs. Factors leading to M&A activities From the above discussion, it is easy to analyze the benefits of different mergers and acquisition strategies. It is found that severe competition is the major reason that often causes amalgamation

The Pocatello Prison Siting Story Essay Example | Topics and Well Written Essays - 1250 words - 1

The Pocatello Prison Siting Story - Essay Example There are certain challenges attached to building a new prison. While there are economic issues to consider, there are political complications that also may cause hindrance in selecting an area as a potential site for a prison. One major problem that has taken severe shape in the United States is overcrowding in state’s prisons. That excessive number of prisoners incarcerated every year is reflected in the fact that although America consists of only 5 percent of the global population, the country’s total number of prisoners is about 25 percent of prisoners around the world (The Challenges of â€Å"realignment†, 2012). This results in huge demand for building more prisons which leads to greedy bargaining of prison-guards union. Therefore, it is not surprising that state prisons have been exerting an enormous pressure on the state budget. Moreover, growing number of prisons in rural areas or small towns has also become a matter of humanitarian concern. Since most prisons in the United States are overcrowded, heath issues have taken a serious form. However, misery of the prisoners is always a subtle issue for the mainstream population in America as majority of state prisons is situated in remote locations from cities, often in deserts area inland which are dusty. Even till a few years back, one acute problem occurred in the manner that double the number of prisoners were housed in a prison than is actually permitted, especially in the city of California. To deal with this crisis, in 2011 the U.S. Supreme Court ruled that prisons should hold only that number of prisoners which will allow to sufficiently maintain humane conditions (The Challenges of â€Å"realignment†, 2012). The case study of the siting of the Pocatello Prison is one example that reflects the many ramifications (both political and rational) that arose from the decision of building a new women’s prison by the state of Idaho. For many

An Absolutory Confession Essay Example | Topics and Well Written Essays - 1000 words

An Absolutory Confession - Essay Example Shoba being a great planner, had planned her life in her head but the death of the baby came as a shock and makes Shoba realize that nothing in this world can be vouched for. Because of their disconnection, they try to find a way to seek forgiveness and decide to reveal a secret each, every night when the light went off at eight. The definition of confession is an acknowledgment or disclosure of sin or sinfulness and though in the process of confession, both Shukumar and Shoba felt relieved superficially, they end up hurting and disappointing each other unintentionally. It made them realize the fact that they did not know each other too well. Eventually, instead of strengthening the relationship, Shukumar and Shoba’s confessions cause them to walk away from each other, but in the end it is Shukumar’s confession about their dead baby that brings the two closer to each other. Shukumar’s confession begins with romantic memories. In his first confession he tells Shoba about their first date because it was the first thing that came to his mind when he was refreshing his memory. Shukumar remembered, â€Å"The first time we went out to dinner, to the Portuguese place, I forgot to tip the waiter. I went back the next morning, found out his name, left money with the manager† (222). Shukumar’s first confession is simple because he has no idea how Shoba would later use this game to manipulate and hurt him. Shukumar hoped that through the game, they would get closer to each other, Shoba would return to her normal self and their love would rekindle but he was unaware that Shoba’s hope for anything at all had died along with their baby. Next day, Shukumar admits his fault in his second confession which means that his second confession goes deeper than his first. Shukumar said â€Å"I cheated on my oriental exam in college† (226). Shukumar carried the burden of his shameful deed for

Athenian Democracy 4 Essay Example for Free

Athenian Democracy 4 Essay Who really made our type of government? We surely didn’t. It was amazingly the people of Athens. It started in 508 BC and is still around as we use it. It remains a unique and intriguing experiment in direct democracy where the people do not elect representatives to vote on their behalf but vote on legislation and executive bills in their own right Participation was not at all open, but the in-group of participants was constituted with no reference to economic class and they participated on a scale that was truly phenomenal. The public opinion of voters was remarkably influenced by the political satire performed by the comic poets at the theaters. Only adult male Athenian citizens who had completed their military training as ephebes had the right to vote in Athens. We have had that and many other laws changed around the government. In our government every few years the people vote on new people to represent them, hence the name â€Å"Representative† Democracy. However the Athenian people also voted on some of their leaders but that was done in the Agora, which is where every male land owner who is over the age of twenty would meet. This meeting was called the assembly. The assembly could be best related to our State Representatives. Then just above them was the council of 500, who monitored the assembly and gave them topics to discuss, as well as bills to vote on. Above the council of 500 come the Magistrates. The Magistrates job can be best described as the â€Å"Police in the Government. † Their job is to ensure that all the laws are being followed and act accordingly when they are not. The Magistrates, despite the amount of power that they hold, are still not the highest government official in the Athenian democracy, after them comes the Council of the 10 Generals. The Council of 10 Generals was in charge of the military. The Athens didn’t start by being a democratic city. It was started by Cleisthenes whose reforms turned Athens from an oligarchy (government by the few) to a democracy (government of the people). The key to Athenian democracy was Cleisthenes redrawing of the social-political landscape of Athens and Attica. The chief magistrate of the city was often called the Archon eponymous or ruler. His responsibilities included conducting investigations of legal cases, in particular those that involved the state. He was responsible for protecting the orphans and heiresses with no family and to appoint the choregos who was in charge of organizing the religious festivals. The move towards democracy reflects other changes in society. In the prehistoric period, throughout Greece, aristocratic families have provided the main fighting force, as cavalry. In the seventh century the Greek city-states develop the new military idea of the heavily armed soldier, the hoplite. A remorseless phalanx of hoplites becomes as effective on the battlefield as the tank in modern times. These soldiers provide their own weapons and armor, but this is expensive. Several of the Greek oligarchies, including that of Athens in the sixth century, reflect the power of this middle class of citizens. A strategic change of direction by Athens, early in the fifth century, gives these poorer citizens a new power. The military effort is diverted into building up an Athenian navy. Triremes, the fast warships of the time, need men to row them. Suddenly every citizen has a part to play, and the crews of a fleet of warships have a self-evident political strength. A more radical democracy, introduced by Pericles in 462, is almost an inevitable result. Approximately one hundred officials out of a thousand were elected rather than chosen by lot. There were two main categories in this group: those required to handle large sums of money, and the 10 generals, the strategy. One reason that financial officials were elected was that any money embezzled could be recovered from their estates; election in general strongly favored the rich, but in this case wealth was virtually a prerequisite. Generals were elected not only because their role required expert knowledge but also because they needed to be people with experience and contacts in the wider Greek world where wars were fought. In the fifth century BC, principally as seen through the figure of Pericles, the generals could be among the most powerful people in the polis. Yet in the case of Pericles, it is wrong to see his power as coming from his long series of annual generalships (each year along with nine others). His office holding was rather an expression and a result of the influence he wielded. That influence was based on his relation with the assembly, a relation that first lay simply in the right of any citizen to stand and speak before the people. Under the fourth century version of democracy the roles of general and of key political speaker in the assembly tended to be filled by different persons. In part this was a consequence of the increasingly specialized forms of warfare practiced in the later period. Elected officials too were subject to review before holding office and scrutiny after office. They too could be removed from office any time the assembly met. In one case from the fifth century BC the 10 treasurers of the Delian league (the Hellenotamiai) were accused at their scrutinies of misappropriation of funds. Put on trial, they were condemned and executed one by one until before the trial of the tenth and last an error of accounting was discovered, allowing him to go free.

martin scorsese Essay -- essays research papers

For my final project, I chose to learn more about my favorite director, Martin Scorsese. From as far as I can remember, Martin Scorsese’s films have always intrigued me like no others have. There are many reasons why I am drawn to his type of films and his style of directing. Martin Scorsese has directed films that support his ethnic background. He has revolutionized the motion picture industry with the films he has directed. Scorsese has a unique approach in directing his films. Lastly, Scorsese’s favorite actor to star in his films is Robert DeNiro, who is by far my favorite actor of all time. This topic holds much value to me because movies are an escape from reality that I enjoy. I do not believe many people realize how influential movies and all other media are. We already know that watching a movie is what people do to relax, when they are bored, its something to share with a friend or loved one, or when the movie just plain appeals to you or draws your interest. The main reason why this topic is so important to me is because one of my favorite things to do is just kick back, relax, and watch a great movie.   Ã‚  Ã‚  Ã‚  Ã‚  Almost all of Scorsese’s films relate to his Italian descent. They reflect his life and how things were growing up in New York City’s Little Italy neighborhood throughout the 1950s and 1960s. What I like about this is that he is staying true to himself and background. He does not forget where he came from and even exploits it for us the viewers, which was an immediate success because of the realism. He portrays early Italian American life like no other. He displayed a side of culture that many people had never been exposed to. I wish that I could create films relating to my childhood, the environment around me, and at the same time be successful. That is exactly what Martin Scorsese has done since he started directing.   Ã‚  Ã‚  Ã‚  Ã‚  Martin Scorsese built an empire of films that changed the way people view directing. Scorsese created a path for other new and experienced directors to explore their creativity. His first success was Mean Streets in 1973 about life in Little Italy, which was the first of many movies to come starring Robert DeNiro. In 1976, he directed a success with Taxi Driver, a graphic movie about a loner who learns he is disgusted with society and decides to do something about it. He ... ... of all time. He is an incredible actor. No one catches my interest like DeNiro. Martin Scorsese highly contributed to his success. Without Martin Scorsese’s directing I do not believe Robert DeNiro would be who he is today. Choosing Robert DeNiro for movies like Taxi Driver, Raging Bull, Goodfellas, and Casino was brilliant.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Martin Scorsese really is responsible for changing my expectations when I view a film. When I watch a movie familiar to his genre of film, I use his films to compare, which I don’t believe is right, but his films are classics to me. To me, newer films will never compare to the work of Scorsese because society and culture are different, many ideas have already been done, and they just don’t make movies like they used to. I realize that movies he made will always be my favorites and I will never hesitate when someone asks, â€Å"Who is your favorite director?†Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  

Recruitment Policy Essay

This policy defines how an organisation intents to do or act when recruiting its employees. It guides management on issues to do with recruitment and ensures that there is consistency in recruitment decisions and procedures. It defines when the recruitment is going to be done and also the source of the candidates for recruitment. The policy also outlines the methods of recruitment and the contents of the job advert. The recruitment policy states the composition of a team of people responsible for the selection of the ideal candidates as well as the selection techniques to be used. This company recruits employees when need arises, that is when there is a job vacancy as a result of resignation, death or growth of the organisation where new positions emerge. The company uses external sources of recruitment such as vocational training centres, the open labour market as well as its competitors. The company uses advertising in the newspaper and employee referrals as its methods of recruitment. The job advert in the newspaper contains the company identification, job summary, key duties, date of assumption of duty, the closing date for applications, the application procedure and the contact details of the organisation. The selection team will consist of the General Manager and the supervisor of the department in which the candidate will be working in as well as senior management. The company will mainly use personality tests and assessment centres as selection tests. The company is an equal opportunity employer and intents to accord equal opportunities to all applicants irrespective of sex, race, creed, or marital status in issues relating to recruitment in accordance with the equal opportunity policy. On issues relating to recruitment, management should use this policy as a guideline so as to ensure consistency and equity in their decisions. Any recruitment decisions which are made without following this policy will be deemed as invalid. This policy applies to all employees and the General Manager is the responsible authority for making sure that it is followed.

A Historical Overview of Christianity

Christianity is not one faith in its practice, but a diverse array of faiths that have evolved over two thousand years. What these faiths share in common is the central figure of Jesus Christ. In his day, Jesus was a polarizing figure.He was born and raised in the Jewish tradition, but was shunned by many when he proclaimed himself to be the long awaited messiah. How could a messiah come from such humble roots? He was not the image of the messiah most people at the time expected.For the Romans, Jesus posed a threat to their rule. Jesus never set out to upend the Roman state, but his growing popularity was seen as a threat none the less. Eventually he was arrested on trumped-up charges and brutally crucified.In the decades following his death his small group of apostles began constructing what we now know as the New Testament. They related the events of his life including the miracles he performed, his crucifixion and his resurrection. These writings were combined with the much older Jewish Torah and Talmud to form the Christian Bible of today.The Apostles also formed the early Christian church as a separate entity from traditional Judaism. In its remarkable history that church would suffer centuries of persecution then would rise to the heights of political and social power. It also would endure many splits. The largest single denomination within the Christian church is Catholicism.The Protestant Reformation of the middle ages would eventually spawn hundreds of new denominations. The history, theoretical perspectives and rites of each of these denominations differs from the others. All are ultimately focused on Jesus Christ as the savior through which man can be given eternal life in heaven.†¢ Subtopic 1: theoretical perspectives and development of the theologyTraditional Christian theology views God as a three-faceted entity. God the Father, God the son (Jesus) and God as the Holy Spirit comprise what is known as the godhead.In 675 A.D., The Council of Tr ent concluded that â€Å"Although we profess three persons we do not profess three substances but one substance and three persons (Stanford University, 2008). Judaism, by contrast, does not recognize Jesus as God. Although many first century Jews viewed Jesus as a heretic or even a false prophet, most now accept that he was a prophet but not that he was the messiah.Christianity is heavily influenced by Judaism. The books of the Torah form Christian conceptions of the beginning of the world, the sinfulness of man and the promise of a coming messiah. Jesus himself preached in the Jewish synagogues and often cited Old Testament prophecy.St. Augustine of Hippo, argued that philosophical reflection complemented theology, but only when these philosophical reflections were firmly grounded in a prior intellectual commitment to the underlying truth of the Christian faith.(Stanford University, 2008)The Jews of the first century doubted that Jesus could be the messiah that had been promised i n the book of Isaiah. He was a carpenter from humble origins. His parents were unmarried at the time Mary began pregnant with Jesus.The family faced ostracization as a result. Joseph, the baby’s earthly father, had considered sending his wife away before the baby was born. Since he and Mary had not yet had sex, Joseph suspected that the pregnancy was the result of an affair. According to the Christian bible, Joseph was convinced not to send her away by a vision from God and consultation with Jewish elders. The baby was to be the messiah born of a virgin.If the Jewish community doubted the humble beginnings of the young messiah, some of his early teachings raised even more concern. While Jesus recognized that the Jewish people were the chosen people of the Old Testament the messiah was not to be reserved to them. Jesus came to atone for the sins of all people. Those of any culture who accepted him in faith could receive this atonement.Judaism had already existed for centuries by that time. During this span of time theologians had created hundreds of specific rules regarding worship and everyday life. For many Jews piety was judged in concordance with obeying of these rules. Jesus challenged this assumption.By working on the Sabbath and performing other acts that broke the rules, Jesus sent a clear message that true faith was about much more than obeying the rules. He told the elders that they could not â€Å"earn their way† in to heaven. In doing so he challenged the well-established social order.As Jesus had faced skepticism and outright hostility, so too would the early Christian Church. Theologians such as St. Paul would face resistance from all sides. The Jews, particularly the elite classes, strongly disagreed with the proposition that Jesus was the messiah.The ruling Romans saw a threat that could erode their empire from within. There was also dissent within the early church as it struggled to find its theological underpinnings.