International Mergers Essay Example for Free

International Mergers Essay Recent years have seen waves of mergers and acquisitions occurring in the international arena. Whilst the nature of such M A activity has enlarged from being mostly IT focussed in the 1990s to include other areas like consumer goods, automobiles, and metals in the 2000s, its intensity remained unabated until the onset of the global financial crisis in 2008. Although M A activity in the domestic space has continued to occur despite the high failure rate of such initiatives, international M A s face the additional challenge of having to overcome issues of different national cultures. The recent break-up of Daimler Chrysler evidences the difficulties that such initiatives face and the enormous harm that can occur if they do not work. This dissertation attempts to investigate the numerous challenges that confront the managements of the two concerned organisations, the hazards posed by such challenges, and the measures that can be adopted to overcome them. Table of Contents Serial Details Page Abstract 2 1. Introduction 5 1. 1. Background and Overview 5 1. 2. Definition of Problem 8 1. 3. Aims and Objectives 12 2. Literature Review 14 2. 1. Motivation for International M A Activity 14 2. 1. 1. Strategic Objectives 14 2. 1. 2. Other Drivers of International Mergers and Acquisitions 18 2. 2. The Cultural Context 20 2. 2. 1 National Culture 20 2. 2. 2. Organisational Culture 23 2. 2. 3 The Impact of Culture on International Mergers and Acquisitions 25 2. 2. 4 Overcoming Cultural Differences in International Mergers and Acquisitions 32 3. 0 Research Methodology 38 3. 1. Research Questions 38 3. 2. Choice of Research Methodology 38 3. 3. Quantitative and Qualitative Methods 39 3. 4. Choice of Methodology 41 3. 5. Primary and Secondary Data 41 3. 6. Ethics 42 4. 0 Data Collection 43 5. 0 Findings and Analysis 48 6. 0 Conclusions 52 Bibliography 53 1. Introduction 1. 1. Background and Overview Corporate mergers and acquisitions (M A) are an accepted form of external growth and are becoming increasingly common with time. With business corporations having realised the benefits of M A activity in terms of growth in sales, increase in capacity, accessing of new markets, obtaining of technology and skills, acquisition of brands, savings in costs, and achievement of synergies in areas of sales, production, and costs, it forms an integral component of the objectives and strategies of most forward looking and ambitious business firms (Gaughan, 2002). Two decades of globalisation, along with progressive development of technology, intensification of competition, increasing pressure on costs, and the continual emergence of new equal skill/ lesser cost production and service centres in Asia, East Europe, and South America are accentuating the need for consolidation and for achieving leadership in costs and quality, the basic tenets of Michael Porter’s theory of competitor advantage (Gaughan, 2002). Such developments are also increasing the number of companies searching for appropriate M A opportunities. The enormous changes that have taken place in the global, economic, political, and trade scenario have added another dimension to the issue of M A activity, that of international mergers and acquisitions (IMA). These pertain to those mergers and acquisitions that take place beyond the borders of specific countries and which are also known as global or cross border M As. The collapse of the Soviet Union, the crumbling of the Berlin Wall, the emergence of East European countries, the formation of the European Union, and the dismantling of trade barriers led to a significant increase in M A activity between European countries. Apart from the remarkable developments in Europe, the last two decades also saw a wave of trade liberalisation and economic and financial reforms sweep through the developing world, and the emergence first of China and then of India on the global economic scene, bringing with them huge markets, strong production and service skills and cheap costs (Gaughan, 2002). With western businesses having realised the import of the enormous business opportunities that are constantly being generated on a global basis, the lid has been taken off IMA activity, which is now increasing furiously, particularly in the USA, the UK, and Europe. â€Å"While USA has always been the pioneer in merger and acquisition activities, UK too has registered high levels of mergers and acquisitions. With the European countries gaining momentum in mergers and acquisitions, international mergers and acquisitions also received a major boost. † (International Mergers and Acquisitions, 2009) IMA is taking place in â€Å"different forms, for example horizontal mergers, vertical mergers, conglomerate mergers, congeneric mergers, reverse mergers, dilutive mergers, and accretive mergers† (International Mergers and Acquisitions, 2009). Whilst IMAs are also driven by the same motives as regular M A activity, international M A helps companies in accessing markets in distant lands, allows companies to build global competitive advantage, and otherwise leads to build up of Foreign Direct Investment. IMA activity is also far more complex than regular M A actions because of the presence of far greater complexities that arise from companies having to deal with different political structures, governmental regulations and policies, economical situations, and investment and other laws (Gaughan, 2002). Despite the presence of such obstacles, international M A activity was gathering pace until the onset of the financial crisis, which has effectively put all commercial and business activity in a state of suspended animation. â€Å"2006 was a record year for acquisitions worldwide when, for the first time, the annual value of these transactions exceeded US$ 4 trillion, and cross-border acquisitions alone amounted to a record high of US$ 1. 3 trillion (Larsen, 2007). This trend continues in 2007, given that the transaction value of global acquisitions in the first three months of the year reached US$ 1. 13 trillion, setting up a record for the busiest first quarter in acquisition history. † (Rottig, 2007) The size of North American IMA activity increased practically by 100 % in 2006 to USD 242 billion from USD 132 billion in 2005. The value of IMA deals in Europe in 2006 touched USD 451 billion (Rottig, 2007). Whilst the most of IMA activity took place in the US, it was followed by the UK and Germany (Rottig, 2007).

Free Great Gatsby Essays: Social Relationships :: Great Gatsby Essays

Social Relationships in The Great Gatsby    Novelists are often concerned with exploring the confusions and complexities of social relationships. In the context, confusions refer to puzzling relationships, which are confusing to comprehend. Whereas, complexities relate to complicated and intricate issues. The different social relationships discussed in F.Scott Fitzgerald's novel, THE GREAT GASTBY, are business colleagues, lovers and married partners. The characters involved in these relationships consist of, Jay Gatsby, Daisy and Tom Buchanan, Myrtle and George Wilson, Jordan Baker, Mr. Wolshiem and Nick Carraway. Each character interacts with others, establishing either confusions or complexities within their social relationship.    A complex social relationship explored in this novel is between Wolshiem and Gatsby. The two are business colleagues who work together, however the nature of their business is rarely discussed. During lunch between Gatsby, Wolshiem and Nick, Wolshiem mistakes Nick's reason of invitation, which Gatsby quickly states, 'I told you we'd talk about that some other time.' (p69) This suggests to the audience that their business is not above board, as Gatsby does not wish to discuss their business dealing in front of company. Throughout the novel, their business relationship is kept very vague. On the surface it appears to be a normal business relationship, however due to the uncertainty of their dealings, it is established to the audience that there is a complex relationship existing between the two characters. Thus showing how complexities can be explores through the social relationship of business colleagues.    Another example of a social relationship explored in the novel, containing complexities, is between Wolshiem and Gatsby from Wolshiem's point of view. In the final chapter, Wolshiem sends Nick a letter in regards to Gatsby's death. He states that he is, '...tied up in... very important business... cannot get mixed up in this thing now.' (p157)    This reinforces that their relationship was strictly business and there was not a very strong friendship existing between the two characters. It appears that Wolshiem has very little respect for Gatsby, as he doesn't have the courtesy to attend his funeral. It is portrayed that all Gatsby was to Wolshiem was a business colleague, nothing more. Wolshiem doe not want to further their relationship as friends. Within the letter, Wolshiem refers to Gatsby as a 'thing.' This represents Gatsby's death as an inconvenience on Wolshiem's behalf. As Wolshiem was involved in some 'very important business,' this once again reinforces the idea that their business relationship was below board.

Skiing Essay

A Day On The Slopes It’s not just for the wealthy anymore! Skiing has been getting more popular recently. People have the free time and money to go skiing more than ever. This is a downfall for somebody who has never skied and wants to be a part of the fun. There is a series of simple steps to complete before one can achieve their best at skiing. From proper attire, to the way you carve down the mountain, it boils down to a few critical steps. If these steps are completed there is nothing holding anybody back from being a successful skier.Lets start off with the basics; I always start by packing pajamas so I have a warm base layer. Then a long T-shirt, followed by a warm pair of socks to keep those toes warm. Socks might be the most crucial part since they will be buckled into ski boots the entire day. Next comes a jacket, ski pants, goggles and a preferably a helmet. If it is windy out, or if you are sensitive to cold air then think about wearing a ski mask to keep the facial area warm. This should cover the basic attire for a day on the slopes. Once you have all your gear set, its time to pick a trail.Now, there are four main types of trails; green circle, blue square, black diamond and then double black diamond. The green circle is the easiest trail and is recommended for beginners, but if a skier is feeling confident they should take their skills onto the blue squares on the mountain. These blue square trails will challenge a first time skier and push them to their full potential. There are a few types of specialty trails that beginners might want to watch out for. Trails called â€Å"glades† are narrow paths in the woods.These trails are made for experienced skiers, and this is where you can find some of the best conditions on a mountain. The next kind of trail to watch for is a terrain park. These trails are made famous for their massive ski jumps and handrails for skiers to â€Å"grind† on. For skiers wanting that extra excitement ou t of their trip might want to consider the terrain park. Now that the trail has been chosen, the subsequent step is to get down the mountain. When descending, keep two things in mind at all times, pizza and French fries.One might find this out of context but it has substantial effect on your speed and safety going down the mountain. Pizza refers to the shape that skis make when in the â€Å"slowing down position. † The tips of the skis will configure to make a triangle, a pizza slice like shape. This position is the safest way for a new skier to slow down. French fry denotes when skis are parallel. This style can be used when on a straightaway or when in full control. Be carful when utilizing the â€Å"French fry,† because speed can get the best of a skier in this position.Skiing is a peaceful activity, and when done correctly can be the best time of somebody’s life. One must consider a basic checklist of supplies to bring on a ski trip so they can make the most out of their experience. Knowing the trails is also crucial; nothing is better than being prepared. It takes some time to get passed the French fry and pizza phase of skiing, but beginners will catch on quickly if practiced with discipline. If all of these steps are correctly completed a new skier will be having a very memorable understanding of the ski slopes.

The Musical, My Fair Lady Directed By George Cukor

Critical Review This critical review is about the musical, My Fair Lady, directed by George Cukor based on the play Pygmalion by George Bernard Shaw. This musical altered some of the scenes and added new ones. The basic storyline of the text is about a young flower girl that runs into a phonetics teacher who claims that he could sell her as a duchess. The flower girl, which is later known to be Eliza, takes up the offer and starts speech lessons with the teacher, Mr. Higgins. He coachers her night and day to prepare her for a race and an embassy ball where she will meet royalty. Mr. Higgins is also acquainted in the beginning with one of his respected colleagues who also specialize in phonetics, Colonel Pickering. Although, Higgins treats her as â€Å"baggage† he soon gets attached to her and her ways. Colonel Pickering however, treats her as a respectable lady. She has a great success at the ball but is not recognized for it, which disappoints her. She decides to run away to Mrs. Higgins hou se where she found by Higgins and Pickering. She organizes her thoughts with Higgins and says she will never come back to them but at the end of the movie, not the play, she comes back to Higgins and Pickering. The main play and musical is based off of a similar storyline which goes something like this: There is a young flower girl who has a cockney accent which prevents her from getting a nice high paying job. Her dream is to work in a flower shop as an assistant. She runs into a phoneticsShow MoreRelatedPygmalion and My Fair Lady3190 Words   |  13 PagesDiscuss the different ways of representing class conflicts. Pygmalion, Bernard Shaw, 1914 My Fair Lady, George Cukor, 1964 â€Å"As the purpose of comedy is to correct the vices of men, I see no reason why anyone should be exempt.† This famous quotation of French playwright Molià ¨re proves how powerfully theater and social criticism are linked, and how in its different genres, drama as well as comedy, theater can, and maybe must, be a way of communicating and expressing the human and society’s flawsRead More The Death of the ‘Authorlessness Theory’? Essay6470 Words   |  26 Pagesreality, was narrated. After seeing a handpainted plate at an antique shop in 1971, she became fascinated with the technique that created the plate. She had originally conceived of the The Dinner Party as a series of plates, to be titled â€Å"Great Ladies.† She writes, â€Å"Since plates are associated with eating, I thought images on plates would convey the fact that the women I planned to represent had been swallowed up and obscured by history instead of being recognized and honoredà ¢â‚¬  (8). Originally