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

World War I And America - 1148 Words

Rose Hernandez Professor Flowers History 106 4 December 2015 World Wars and America Before America stepped into World War I and II, nations around the world were not getting along. The fear of radical change and the fear of not having peace and freedom lingered in the air, meanwhile, America did not want to be in any part of both wars. It wasn’t until the U.S. came under attack that they stepped in to help fight off the enemies. America entered both wars in order to bring back peace as well as promote democracy and ideas of freedom, which led them to being a world power. At the beginning of World War I, President Wilson did not want the United States to participate in the war. America remained uninvolved until German submarines attacked the Lusitania in May of 1915, which included 124 Americans on board who were killed. President Wilson felt that the attack gave them a reason to enter the war, and on April 2, 1917, he went to Congress to declare war against Germany. After declaring war, it was revealed that Arthur Zimmerman was trying to convince Mexico to be on Germany’s side of the war so that if they won the war, Germany will retrieve the land that the U.S. took from Mexico. It was also around that time that the Russian Revolution took place after Vladimir Lenin overthrew the czar. The following year in January, Wilson released his Fourteen Points that summed up his hopes for order between nations and also mentioned making the world safe for democracy as well as openShow MoreRelatedThe World War I, America2051 Words   |  9 PagesIbarra Ms. Knochenhauer APUSH – Period 4 24 April 2015 APUSH Research Paper Following World War I, America turned inward and began to focus on itself. Yet, coming home from war Americans were also fearful of communism due to the recent Bolshevik Revolution where Lenin and the Bolshevik party gained control of Russia and made it communist. This scare led to drastic changes within our nation’s borders as America fought to keep communist influence out of its borders. This was such an impactful eventRead MoreWorld War I And America983 Words   |  4 Pages1939 is when World War 2 started, and everything In the United States started to change. The American government started to recognize the new immigrants, and the government saw their children as loyal Americans. On December 7, 1941, Japan attacked the American naval base at Pearl Harbor, Hawaii. One day after the attack President Franklin D. Roosevelt to declare war on Japan. This has opened a lot of up doors of opportunity for change for American minorities, as American Indians who were exposedRead M oreAmerica s World War I1725 Words   |  7 PagesBefore World War I, America had been primarily an isolationist nation with little dealings with the world. As time went on America took more of a role in world affairs. With World War II and the post war, America took its place as one of the most dominant nations in the world. Post war, America’s economy led the world and helped rebuild war ravaged nations. Government efficiency in the economy and increased production led America to emerge as one of the biggest economic powerhouses in the world. BeforeRead MoreWorld War I And Its Effects On America1703 Words   |  7 Pagesthe U.S. entered into World War, it had already been raging for some time. Between the assassination of Archduke Franz Ferdinand during the tension between Austria-Hungary and Russia for the sake of dominance, the increasing competition from Japan for Chinese trade, and the increasingly offensive tactics of Germany concerning the U.S., the American population began to contemplate whether or not America should get involved, a topic that is still debated to this day. World War I and its effects wereRead MoreEffects Of World War I On America1425 Words   |  6 PagesEffects of World War I on America Basic Work Rough Draft World War I was a bloody and gruesome war that drew in many countries from around the world. It lasted from July 28, 1914 to November 11, 1918. As mentioned, there were many countries involved in World War I. These countries were separated into two clashing alliances: The Triple Entente, involving the powers of France, Britain and Germany; as well as the Central Powers which involved the powers of Germany, Austria-Hungary, the Ottoman EmpireRead MoreAmerica s Entrance Of The World War I1640 Words   |  7 PagesPeriod 3 19 May 2017 Former American president Woodrow Wilson said in 1917 relating to World War I,  ¨This is a war to end all wars. ¨ Although this was not the most accurate quote as World War II followed the first, World War I was one of the bloodiest wars ever fought. The war had 37 million casualties with another 19.7 million wounded. One of the events that lead to the start of the war was the assassination of Austro-Hungarian Archduke Francis Ferdinand and his wife by Serbian nationalistsRead MoreIsolationism in Post-World War I America1451 Words   |  6 Pagesisolationist sentiment stems from the fact that America is geographically isolated from the rest of the world. American isolationist sentiment was at its peak in the years following World War I. In the war of 1914-1918 that had set the stage on which Hitler now strutted, no people had been more reluctant combatants, and few more disappointed with the result, than the Americans(Kennedy, 385). After losing more than fifty thousand young troops in a war that was viewed to be unnecessary, the AmericanRead MoreShould America Join World War I? 674 Words   |  3 Pages### appears to be part of Esssay 384218##World War 1, also known as The Great War, is the fifth-deadliest conflict in history. It was mainly a battle for independence between countries, and until April 6, 1917 the U.S. had tried to pull away from it. Only about 20% of America had actually wanted to get involved, while about 80% had voted against any American involvement. When the American passenger boat known as the Lusitania had been destroyed by German U-boats and the Germans had broken their promiseRead MoreWorld War I And Its America s Economy1248 Words   |  5 PagesWorld War I and its Empact America s Economy World War One(WWI), also known as The Great War was the world s first global conflict. This was a war between the Allied powers and the Central Powers. The allies included Great Britain, France, Russia, Italy and of course the United States. The countries they fought against were known as the Central Powers this consisted of Germany, Austria-Hungary, Ottoman Empire and Bulgaria. WWI was an global war centred in Europe. This war affected the UnitedRead MoreThe Reasons Behind America Joining World War I727 Words   |  3 Pagesinterests. Thus, the United States must join the Allies in The Great War and defend our country, her interests and her allies overseas in Europe. In this paper the reader will be introduced to the pros and cons of America joining the fight against the Central Powers, and why it is essential that the country put up a strong fight against the enemy and become involved with the war. Of the advantages of America joining the world war, one of them is protecting our investments and interests overseas.

Case Analysis Mylan Pharmaceutical Company Essay

Many companies often engage in activities that are viewed as unethical for one reason or another. For example, the Mylan pharmaceutical company with regards to their recent price hiking EpiPen dispute. Mylan is one of the largest global pharmaceutical companies in the world. They market many products to other companies, governments and even sell retail directly to customers. This large company claims to have strong Corporate Social Responsibility attitudes and has a goal for themselves to increase access to affordable healthcare among other things. Their mission statement also says that they want to â€Å"Provide the world’s seven billion people access to high quality medicine† (â€Å"About Us†). However, a current event has drastically gone against this statement and asks the question of if Mylan is actually focused on being ethical and achieving their Corporate Social Responsibility goal as it seems unattainable to accomplish this by drastically raising p rices. Recently, their prices of the EpiPen has shot up radically and they are having issues explaining and presenting appropriate information why to the public and Congress. In order to prove the unethicalness of these actions I will be applying the Egoist and Utilitarianism ethical theories to get two sides of the story. By doing so I hope to be able to show that Mylan does not have any ethical grounding for what they are currently doing, and that they are partaking in immoral activities that helps neither themselves orShow MoreRelatedThe Use Of Epinephrine Without Medical Training2172 Words   |  9 Pageson the battlefield. It was later approved for use with epinephrine, the trade name for adrenaline, for anaphylaxis. The manufacturer who gained the approval in 1987 was acquired by Pfizer and they sold the rights to the device to Merck. Mylan Pharmaceuticals purchased the marketing rights to the EpiPen in 2007 which at the time, cost about $57 each. Today EpiPens inflict pain on the patient who needs them with a price tag of more than $600 per pack of two. This is an increase of approximatelyRead MorePresident Donald Trump Political Analysis1563 Words   |  7 PagesWednesday said they would vote for Democratic candidates, compared to 36 percent of the 1,500 participants who would vote for Republicans in congressional races. The poll was conducted between Dec. 24 and 26. Yet despite the national trends, latest analysis shows West Virginias Senate race, which is being held by Democratic Sen. Joe Manchin, as being the only competitive contest in the Mountain State in terms of federal seats. Sabatos Crystal Ball rated West Virginias Senate race as leans DemocratRead MoreUnited States Response For Corporations From Fleeing The U.s. And Integrating Abroad2907 Words   |  12 PagesDefining Corporate Inversion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5-6 c. Historical Analysis and Political Response †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... 6-7 d. Research Question †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 e. Hypothesis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 f. Significance of Study †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8 III. Literature Review †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8-10 IV. Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10-12 a. Research Design †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10-11 b. Data Collection †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11-12 c. Data Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 12 V. Anticipated Findings/Impact †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreImpact of Lipitor Patent Expiry on Pfizer.4174 Words   |  17 PagesConclusion 11 Executive summary: This report is about the impact of patent termination of Lipitor on Pfizer pharmaceutical company. Lipitor has been in the market since 1997 and is the mother of all drugs. (wsj_live, 2011) As of November 30th 2011 Pfizer lost the patent of Lipitor opening path to generic competitors for America’s most popular medication and now all generic producing companies will be able get hold of the patent and produce their own stock legally. Pfizer was the first to earn 11$ billionRead MoreFinancial Reporting, Financial Statement Analysis and Valuation a Strategic Perspective, 7th Edition James M. Wahlen, Stephen P. Baginski, Mark Bradshaw14514 Words   |  59 PagesCHAPTER 1 OVERVIEW OF FINANCIAL REPORTING, FINANCIAL STATEMENT ANALYSIS, AND VALUATION Solutions to Questions, Exercises, and Problems, and Teaching Notes to Cases 1. Value Chain Analysis Applied to the Timber and Timber Products Industry. Exhibit 1.A below contains a depiction of the value chain. The links in the value chain are as follows: 1. Timber Tracts: Plant and maintain timber tracts (Weyerhaeuser) 2. Logging: Harvests timber (Weyerhaeuser) a. 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The Limitations of Exclusion Clauses Free-Samples for Students

Questions: 1.What is an Exclusion clause? 2.What does by notice mean?3.What are the two rules for Incorporation of an Exclusion clause by notice?4.Determine whether the Contract term is reasonable. 5.Is the Exclusion clause in our case applicable? Answers: 1.An exclusion clause can be stated as such a term in the contract, which has the power of restricting the liability of an individual. In order for an exclusion clause to be legally binding, it has to be properly incorporated into the contract. It has to be brought to the notice of the parties or be signed by the parties. In addition to this, an exclusion clause cannot reduce, extinguish or limit the applicability of a statute or a common law, and it can also not oppose such legislative frameworks. If such is present, the exclusion clause is automatically invalid. In case an exclusion clause is discovered to be such which is incorporated into the contract, after a contract has been made, the same cannot be binding and is deemed as not valid (Abbott, Pendlebury and Wardman, 2007). This was famously established in two legal scenarios, of Thornton v Shoe Lane Parking Ltd (1971) 2 WLR 585, along with in the matter of Olley v Marlborough Court Ltd (1949) 1 KB 532. The verdict of both these case held the exclusion clause as having no legal backing. In the first case, the exclusion clause was stated at the back side of the ticket, which Thornton could not see. And in the second case, the exclusion clause was created after the main contract had already been established and so, it was held as not valid (Mulcahy, 2008). For an exclusion clause to be lawful, the same has to be brought to the attention of the party against whom the same is inserted in the contract. In the legal scenario of Chapelton v Barry UDC (1940) 1 KB 532, as the ticket contained at the backside of it an exclusion clause, which was not brought to the attention of Chapelton when he was given the ticket, due to the absence of proper or reasonable notice, the exclusion clause could not be held as binding. The crux of another, i.e., of Thompson v London Midland Scottish Railway (1930) 1 KB 41, was that the exclusion clause cannot be referred at some other place and had to be contained in the contract (Roach, 2016). In cases, where an exclusion contract is contained in the contract itself, the same would be binding. And this lawful binding nature of such an exclusion clause would be upheld even if the same has not been read by the other party, as was provided in the legal scenario of L'Estrange v Graucob [1934] 2 KB 394. Here, the written contract had been signed by parties, though the same had not been read (Swarb, 2017a). However, when a representation is made regarding the terms contained in the exclusion clause, being misleading in nature, the rule given in is not upheld, as was highlighted in the case of Curtis v Chemical Cleaning and Dyeing Co [1951] 1 KB 805 (E-Law Resources, 2017a). The Unfair Contract Terms Act, 1977, through its various sections contains the provision regarding exclusion clause. Section 3 of this act provides that the liability of the violating individual has to be written as standard terms of the business. As per this section, the exclusion clause is not valid till the time it can fulfill the need of it being reasonable (Legislation, 2017). Section 11 of this act provides the provisions pertaining to the reasonableness of the exclusion clause. This section presents that the term would have met this obligations, when the same had been reasonable and fair point to have been included in the contract based on the prevalent conditions, which were either known or should have been known to the arty to the contract, when the same was formed. Hence, both of the points of reasonableness and fairness has to be established at the time of formulation of contract and cannot be mere demonstration of knowledge of the events occurring in reality. The reasonableness can be further determined through Section 2 of this act, which contains the guidelines for the reasonableness of the contract. So, the reasonableness and proper incorporation of the exclusion clause are its limitations (Legislation, 2017). In this case, the exclusion clause was not incorporated in the contract. Further, it was not brought to the attention of the parties and was stated at some other place. A reasonable individual would not have known the existence of such an exclusion clause, unless the same was brought to his notice. Hence, due to lack of proper incorporation and reasonableness, the exclusion clause in this case is invalid (Marson and Ferris, 2015). 2.Negligence is defined as being a breach of duty of care, which was owed by an individual to another and the result of which is in the form of injury, loss or harm to such other person. In short, it is the failure of the obligation on part of the individual who owed a duty of care to another (Latimer, 2012). For making a case of negligence, it has to be shown that the loss was foreseeable and a direct causation between the injuries received to the other party and the breach of duty of care. Once a case of negligence is proven, the injured party can apply for damages given as monetary compensation (Harvey and Marston, 2009). For establishing a case under negligence, the first element which needs to be present is the duty of care (Legal Services Commission, 2016). A threefold test was given by the Court of Appeal in the matter brought towards it under Caparo Industries plc v Dickman [1990] 2 AC 605, 618. As per this test, there needs to be a reasonable foreseeability, there has to be proximity amid the two parties, and lastly, there has to be a fairness, justness and reasonableness in the imposed liability (Lunney and Oliphant, 2013). Due to the damages not being foreseeable, in Bolton v. Stone [1951] AC 850, [1951] 1 All ER 1078, Stone was not negligent and no damages were awarded to the plaintiff (Swarb, 2016a). Another landmark case in this regard is the case of Donoghue v Stevenson [1932] UKHL 100. In this case, the manufacturer was held negligent for failing in ensuring that the ginger beer bottle was safe for consumption, as a dead snail was found in such bottle, which made the plaintiff sick (Briti sh and Irish Legal Information Institute, 2017). The next step deals with showing that a breach of this duty occurred. In a leading matter of Paris v Stepney Borough Council [1951] AC 367, the court provided that the Council failed in their duty of care, by not providing Paris with the required protective gear and which resulted in his good eye being blinded (Martin and Lancer, 2013). In Vaughan v Menlove (1837) 132 ER 490 (CP), as the defendant did not consider the warnings regarding a possibility of fire owing to improper ventilation, he was held in negligence (Commonwealth Legal Information Institute, 2017). The final step is to show that there is a direct causation between the undertaken negligence and the injury. If the damages are too remote, a case of negligence would not hold. In the Wagon Mount case or the Overseas Tankship (UK) Ltd v Morts Dock and Engineering Co Ltd [1961] UKPC 2, due to the remoteness of damages, the damages were not awarded for the negligence which took place (H2O, 2016). The elements of breach of duty include likelihood of loss, as established in Bolton v Stone, the seriousness of loss, established through the Wagon Mound case, the costs of prevention, which was established in the case of Latimer v AEC [1953] AC 643 and the utility of the conduct of the defendant as held in Watt v Hertfordshire [1954] 1 WLR 835. In Latimer v AEC, the defendant had taken reasonable precautions and hence, there was no breach of duty. In Watt v Hertfordshire, the emergency nature of the situation and the conduct of defendant which required saving of lives more important than taking the precautions, held that no breach of duty could be present (Oughton and Harvey, 2015). Some of the defenses which can be used in cases of negligence include the eggshell skull rule and contributory negligence. The first one relates to the frailty of the party injured. And the other one relates to the breach of duty by the aggrieved party themselves, which they owed to themselves (Rush and Ottley, 2006). The test for damages includes the but for test, Barnett v Chelsea Kensington Hospital [1969] 1 QB 428, whereby it is compared whether such loss would have occurred if the act of defendant had not taken place. If such would still have happened, the defendant is not liable. The foreseeability of damages is another test for damages, as held in Wagon Mound and Vaughan v Menlove case. Another test is the substantial factor test as per which if a number of causes could have resulted in harm, than any such cause would be held as a substantial factor for the liability (Strong and Williams, 2011). 3.In this case, Jess was the preparer of the drink, who had to ensure that while preparing the drink, she was careful. She had to make certain that she did not make any mistake. A mistake, like the one she made, would have resulted in loss. So, the three fold test is satisfied here, due to the presence of foreseeability of an injury being caused if the wrong ingredients were mixed. There was proximity between Jess and Bill and, if a penalty is imposed on Jess, it would be fair and just for the injury caused to Bill. To establish the breach, the but for test can be applied. The injury which was caused to Bill would not have occurred in absence of mistake undertaken by Jess. Jess failed to take the taken reasonable precautions and her conduct could not justify her actions. Hence, based on the tests mentioned in previous segment, there was a breach of duty by Jess. For establishing the cause of damages due to breach of duty on Jesss part, the but for test is again applicable. This is coupled with the foreseeability of a damage resulting from the undertaken negligence. And lastly, this was amongst one of the factors which could have triggered the high blood pressure of Bill. Due to the presence of all the requisite factors of negligence under this case, Bill can sue Jess for damages in form of monetary compensation, as a result of him being sick, due to her breach of duty of care. 4.A liability arising out of the agency law, which is a strict liability, is held under the doctrine of vicarious liability. Under this, the employer is held responsible for the work done by its employees, to a third party. This principle is drawn from the agency law which holds a principle liable for the acts of their agent to a third party. In order to establish vicarious liability, there needs to be presence of three elements, i.e., the relationship of an employer-employee, the occurrence of negligence, and in the course of employment. The rationale behind this is that the third party is unaware about the authority of the employee and so, the employer has to be liable for the work done on his behalf (Giliker, 2010). In order to establish the employer-employee relationship, certain tests can be applied. The first one is the control test as held in the case of Zuijs v Wirth Brothers Pty Ltd [1955] HCA 73. As per this test, the exercise of control determines this relationship, instead of an actual control (Australasian Legal Information Institute, 2017). A part and parcel test was given in the case of Stevenson, Jordan Harrison Ltd v MacDonald Evans [1952] 1 TLR 101. The different between a contractor and employee was held to be the difference between contract of service and a contract of services. In the former, the individuals are employed under a contract; and in the latter, the individuals are employed under a contract of services. In the first, it can be stated that something has to be done and in a particular manner, and in the latter, it is stated what is to be done (Swarb, 2017b). Another test in this regard was given in Stevens v Brodribb Sawmilling Co Pty Ltd [1986] HCA 1, which is the multiple indicia test, and which was later affirmed in Hollis v Vabu Pty Limited (2001) 207 CLR 21. As per this test, the relationship had to be seen in totality to establish the presence of employer-employee relationship (Find Law, 2017). A mixed test was established in Lee Ting Sang v Chung Chi-Keung [1990] UKPC 9. As per this, the use of own tool or taking business risk, along with such factors had to be regarded in light of economic reality to differentiate between the two (Swarb, 2016b). Wearing uniform is a sign of presence of this relationship, as was held in Humberstone v Northern Timber Mills (1949) 79 CLR 389 (Swarb, 2016c). In order for Bill to hold Thomas and Zhang Wei responsible, for the negligence of the Jess while making the coffee at Artillery, there is a need to adopt the principle of vicarious liability. But to show that, the employer-employee relationship, has to be established. The monthly salary given to Jess, payment of taxes, along with wearing of uniform shows an employer- employee relationship. However, the lack of holidays or sick days and health care makes her an independent contractor. The employer-employee relationship is further supported by use of equipment and recipes of Artillery and hence, Jess was an employee of Artillery. Due to presence of employer-employee relationship, negligence and occurrence during work, Bill can sue Thomas and Zhang Wei for vicarious liability 5.Remedies are the relief awarded by the court to the party whose side is successfully established. And they are not punishing in nature, they are just meant to put the individual as he was before the negligence occurred (Latimer, 2012). In other words, when a case of negligence takes place, the injured party is awarded certain damages, to put the individual in such a place, as they would have been, in case the negligence had not taken place, as was held by the House of Lords, in Addis v Gramophone [1909] AC 488 (E-Law Resources, 2017b). Parke B in Robinson v Harman (1848) 1 Ex Rep 850 held that breach damages have to be awarded in such a form that the victim is able to compensate the losses incurred by them (Swarb, 2015). There are two forms of remedies which can be awarded for negligence, the first is damages and the second is injunctions. The damages can be further subdivided into two parts, the one for direct loss and the other for the indirect one (Statsky, 2010). The direct loss relates to the monetary compensation as was held in Donoghue v Stevenson. And indirect losses relate to the damages for mental distress, as were awarded in the case of Baltic Shipping v Dillon High Court of Australia (1993) 176 CLR 344 (Holmes, 2017). The injunctions held in stopping an individual from undertaking negligence. These can be prohibitory mandatory or interim injunction. The House of Lords in case of Morris v Redland Bricks Ltd [1970] AC 652 held that a mandatory injunction could not be granted till the time there was a strong possibility that a serious damage would be caused to claimant if the same is not given (Swarb, 2017c). In American Cyanamid v Ethicon [1975] AC 396, 408, it was held that for interim injunction, the merits of the case are not investigated unless a serious question is to be contended in the court based on the balance of convenience (Ramlugon, 2014). In this case, Bill can claim for the direct damages, in form of monetary compensation. The indirect damages could also be claimed upon by Bill, he lost his wallet and insurance card, which caused him mental distress. An injunction order can also be made by Bill against Jess, to ensure that she does not work again in such a negligent manner. References Abbott, K., Pendlebury, N., and Wardman, K. (2007) Business Law. 8th ed. London: Thomson. Australasian Legal Information Institute. (2017) Zuijs v Wirth Brothers Pty Ltd [1955] HCA 73; (1955) 93 CLR 561 (15 December 1955). [Online] Australasian Legal Information Institute. 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