Diploma in Business Communication Essay

3 Steps to Acing Your Upcoming Group Interview You’ve been approached in for a board meet. Perhaps you’re threatened. Perhaps frightened. Possibly you’re not even sure you comprehend what that really involves. Whatever your degree of fear, here are three simple strides to traversing your board meet tranquilly and in one piece. Stage 1: BEFOREYou reserve the privilege to ask who will be on your board. Do this. At that point inquire about each board part as well as could be expected. You’ll have the option to make sense of a considerable amount and get ready better for what each may be generally quick to ask you. What does this specific gathering of individuals educate you regarding what the organization is attempting to assess?You can likewise ask to what extent (generally) the meeting should last. This will give you a nice sentiment for what amount to and fro conversation will be conceivable, how much space you’ll be given to pose inquiries, to what extent your answers can be, etc.Step 2: DURING Treat every individual on the board like an individual not simply one more anonymous face. This isn't an indifferent divider asking you inquiries. Every questioner on your board is another chance to make a human association and persuade that a lot more individuals in the organization what an extraordinary fit you would be.Be sure to observe everybody’s name as they are presented. Record every one if that causes you recall. When responding to questions, talk straightforwardly to the person who asked, yet then attempt to widen your answer out to cause the remainder of the board to feel remembered for the discussion.Step 3: AFTERYou’ve took in their names and put forth an attempt to interface with each board part presently thank every single one of them earnestly withâ solid eye to eye connection and a quality handshake. From that point forward, it’s the typical post-meet follow-up methodology. Be that as it may, recall that you have to keep in touch with one card to say thanks for each board part. It appears to be a torment, however it’s these little contacts that will help set you apart.The board talk with: 6 hints for previously, during, and after

Trabalenguas or Spanish-Language Tongue Twisters

Trabalenguas or Spanish-Language Tongue Twisters Think you have your Spanish elocution down? Provided that this is true, test your abilities with the tongue twisters beneath. On the off chance that they appear to be excessively simple, have a go at rehashing them quickly. Regardless of whether youre a local speaker, youre prone to be entangled at some point or another. By chance, the Spanish word for tongue twister is a compound thing, trabalenguas, or (approximately interpreted) thing that ties tongues. Like most other compound things, it is manly. Tongue Twisters Based on Words With ‘P’ Poquito a poquito Paquito empaca poquitas copitas en pocos paquetes. (Gradually, Paquito packs a couple of minuscule glasses in a couple of bundles.) Pepe puso un peso en el piso del pozo. En el piso del pozo Pepe puso un peso. (Pepe put a peso on the floor of the well. On the floor of the well Pepe put a peso.) Pepe Peã ±a pela father, pica piã ±a, pita un pito, pica piã ±a, pela dad, Pepe Peã ±a. (Pepe Peã ±a strips potatoes, cuts pineapple, blows a whistle, cuts pineapple, strips potatoes, Pepe Peã ±a.) En la poblaciã ³n de Puebla, pueblo muy poblado, feed una court pã ºblica poblada de pueblerinos. (In the city of Puebla, a populated town, there is an open court populated with Pueblans.) El hipopã ³tamo Hipo est con hipo.  ¿Quià ©n le quita el hipo al hipopã ³tamo Hipo? (Hipo the hippopotamus has a hiccup. Who is relieving the hiccup for the hippopotamus Hipo? Tongue Twisters Featuring Other Hard Consonant Sounds  ¡Quà © triste ests, Tristn, con tan tã ©trica trama teatral! (How dismal you are, Tristn, with such a bleak dramatic story! Una cacatrepa trepa tiene tres cacatrepitos. Cuando la cacatrepa trepa trepan los tres cacatrepitos. (A climbing caterpillar has three infant caterpillars. At the point when the climbing caterpillar climbs the three child caterpillars climb.) Como poco coco como, poco coco compro. (Since I eat little coconut, little coconut I purchase.) Comprã © pocas copas, pocas copas comprã ©, como comprã © pocas copas, pocas copas pagarã ©. (I will purchase hardly any drinking glasses, not many drinking glasses I will purchase, as I will purchase not many drinking cups, barely any drinking cups will I pay.) Toto toma tã ©, Tita toma mate, y yo me tomo toda mi taza de chocolate. (Toto drinks tea, Tita drinks mate, and I drink up the entirety of some chocolate.) Cuando cuentes cuentos, cuenta cuantos cuentos cuentas, porque si no cuentas cuantos cuentos cuentas nunca sabrs cuantos cuentos cuentas tã º. (At the point when you disclose to me stories, reveal to me what number of stories you let me know, supposing that you dont disclose to me what number of stories you are letting me know, you will never now what number of stories you are letting me know.) El love es una locura que solo el cura lo cura, pero el cura que lo cura comete una gran locura. (Love is an incredible lunacy that lone a cleric can fix, yet the minister who fixes it submits an extraordinary lunacy.) Tongue Twisters Featuring Soft Consonant Sounds Ã'oã ±o Yã ±ez come à ±ame en las maã ±anas con el niã ±o. (Ã'oã ±o Yã ±ez eats sweet potatoes in the mornings with the kid.)  ¡Esmerà ­lemelo! (Clean it for me.) Eugenio es muy ingenuo.  ¡quã © genio tiene el ingenuo de Eugenio! (Eugene is gullible. What virtuoso has the naivete of Eugene!) Busco al vasco bizco brusco. (Im searching for the inconsiderate cross-peered toward Basque.) El niã ±o est sosegado.  ¿Quià ©n lo desasosegar? El desasosegador que lo desasosiegue, buen desasosegador ser. (The youngster is quiet. Who will upset him? The disturber who upsets him will be a decent disturber.) Si wear Curro ahorra ahora, ahora ahorra wear Curro. (In the event that Curro is sparing currently, presently is Curro sparing.) El suelo est enladrillado.  ¿Quià ©n lo desenladrillar? El desenladrillador que lo desenladrillare un buen desenladrillador ser. (The ground is cleared with blocks. Who will unpave it? The unpaver who unpaves it a decent unpaver will be.) Tres tristes tigres comã ­an trigo en tres tristes platos sentados en un trigal. (Three tragic tigers were eating wheat on three miserable plates set in a wheat field.) Por la calle Carretas pasaba un perrito; pasã ³ una carreta, le pillã ³ el rabito.  ¡Pobre perrito, como lloraba por su rabito! (A little dog strolled through Carretas road; a truck ignored by and ran his dear tail. Poor little dog, how he weeped for his dear tail!) La sucesiã ³n sucesiva de sucesos sucede sucesivamente con la sucesiã ³n del tiempo. (The progressive arrangement of occasions happens progressively with the progression of time.)

Create a job selection matrix Essay Example | Topics and Well Written Essays - 250 words

Make a vocation choice framework - Essay Example In building up a vocation choice framework, it is significant for the group to break down the necessary capabilities and employment elements of the situation in question. The specialized and execution work aptitudes ought to be considered notwithstanding the general classifications on applications. During a meeting, it ought to be chosen about which aptitudes must be seen from the applicants and consequently composed into classes. Finally, during the meeting, to guarantee the holes that were not referenced in the application are filled, the recruiting group should structure the inquiries to find this data. Above all, in the activity determination lattice, a numeric positioning framework ought to be incorporated for every essential and inquiry question (Anon, 2010). The positioning may go from 1 to 5 with 5 being the most noteworthy. The determination rules may anyway shift concerning the activity position with an opening. The up-and-comer who displays the most good sheet in agreement to their application would then be able to be offered the

Supporting Students with Mental Health Issues Essay

Supporting Students with Mental Health Issues - Essay Example Dennis ought to be alluded to directing because of his abnormal conduct. Additionally, since he is acting in a way that is biased to others in the understudy body, the college ought to consider expelling Dennis from understudy lodging. Since Dennis is offering compromising expressions, not exclusively to understudies however school authorities, Dennis ought to be recognized as an understudy with a psychological well-being issue that should be tended to. Furthermore, since he is upsetting understudies, he ought to presumably be expelled from grounds lodging, except if his conduct changes essentially. Maybe a time for testing could be instated from the time that Dennis begins going to directing, which would stay for whatever length of time that Dennis remains in the residences. On the off chance that any increasingly surprising conduct is displayed or in any case noted from occupant life associates, Dennis ought to be immediately expelled from the quarters. Chiefly because of the way that Dennis is displaying compromising conduct, until he shows that he is proceeding with treatment and chipping away at issues-at that point and at exactly that point should he be permitted to remain nearby. Moreover, Dennis ought to be checked upon intermittently by advocates and other emotional well-being experts to screen his conduct. An understudy might be distant from the real world and not working typically yet not really undermining any physical damage to themselves or others. One of the challenges of overseeing such a circumstance is the dread that it could form into a crisis at any second (Supporting Students With Mental Health Problems, 2009). In any case, for Dennis' situation, he was undermining individuals, and this could have swelled into a progressively across the board issue if something was not done so as to neutralize his bizarre practices. Case II: Gerry. Gerry's issues are more unavoidable than Dennis's. Most importantly, Gerry truly hurt an understudy. In anybody's brain, regardless of whether that was subsequentially pardoned by method of the way that Gerry had ingested LSD which caused the conduct, clearly it ought to be a lot harder to confide in Gerry's conduct again nearby. The way that one understudy was hurt was awful enough. Despite the fact that Gerry's attorney makes a point that Gerry would be in twofold danger for having just been attempted and vindicated for a wrongdoing, the college ought to genuinely think about whether permitting Gerry nearby again would be an insightful move. The college's arrangement expresses, An understudy will be dependent upon automatic regulatory withdrawal from the University, or from University lodging, if the Provost verifies that the understudy experiences a psychological issue that is unfavorably influencing their scholastic execution or conduct nearby in

Essay Topics For Romeo and Juliet

Essay Topics For Romeo and JulietWhen you want to write an essay on Romeo and Juliet, there are a lot of different things that you have to remember. The first thing is that it has to be a direct dialogue between the two characters. Since they were both teenagers, it should be structured in such a way that it can be read as if it were a real conversation.There should be a logical structure that makes sense to people, rather than just having random words thrown around. It should give your reader an idea of what Romeo and Juliet might say to each other. But it should be written in such a way that it can also be read by a teacher as an essay.Writing a Romeo and Juliet essay is not hard if you understand the whole process of conveying a full sentence points. When you think about it, the sentence should have more word than what is necessary to make it understandable. You may want to add a few extra words if you really feel like it, but remember that it needs to be clear enough to communica te what you want to say. That's what the question marks and italics are for.The beginning of the essay is one of the most important part of it. It should cover your opening paragraph. If you think that it can be left to the student who will do the reading, then that would be the best choice. However, if you want to use the essay as a teaching tool for your students, then you should use it as a guide.This is because high school students tend to do poorly in writing an essay, as they don't know how to write a proper one. All they want to do is get through the essay quickly. They are already stressed out. And so, if you fail to teach them how to write an essay properly, you might risk their having a low grade for it.The purpose of this essay is to provide an explanation to how the characters acted when they were teenagers. If you are writing about your childhood, you may not feel like explaining all the ways that you learned to be good at sports. However, if you are writing an essay th at is for high school students, you have to tell them what motivated you and what made you want to become a writer. This will be something that they will remember when they are older. And if you leave it open ended, then it will be hard for your students to recall their memories for that essay.If you take care of these things, then you will end up having more essays with a higher grade for them. Because most students hate being graded, they would rather have less effort and a lot of fun.

Mergers And Acquisitions Of The Hindalco Company Finance Essay - Free Essay Example

MA are very important tools of corporate growth. A firm can achieve growth in several ways. It can grow internally or externally Internal Growth can be achieved if a firm expands its existing activities by up scaling capacities or establishing new firm with fresh investments in existing product markets. It can grow internally by setting its own units in to new market or new product. Mergers and Acquisitions have been the part of inorganic growth strategy of corporate worldwide. Post 1991 era witnessed growing appetite for takeovers by Indian corporate also across the globe as a part of their growth strategy. This series of acquisitions in metal industry was initiated by acquisition of Arcelor by Mittal followed by Corus by Tatas. Indian aluminium giant Hindalco extended this process by acquiring Atlanta based company Novelis Inc, a world leader in aluminium rolling and flat-rolled aluminium products. Hindalco Industries Ltd.,acquired Novelis Inc. to gain sheet mills that supply can makers and car companies.Strategically, the acquisition of Novelis takes Hindalco onto the global stage as the leader in downstream aluminium rolled products. The acquisition of Novelis by Hindalco bodes well for both the entities. Novelis, processes primary aluminium to sell downstream high value added p roducts. This is exactly what Hindalco manufactures. This makes the marriage a perfect fit. Currently Hindalco, an integrated player, focuses largely on manufacturing alumina and primary aluminium. It has downstream rolling, extruding and foil making capacities as well, but they are far from global scale. Novelis processes around 3 million tonnes of aluminium a year and has sales centers all over the world. In fact, it commands a 19% global market share in the flat rolled products segment, making it a leader. Hindalco has completed this acquisition through its wholly-owned subsidiary AV Metals Inc and has acquired 75.415 common shares of Novelis, representing 100 percent of the issued and outstanding common shares AV Metals Inc transferred the common shares of Novelis to its wholly-owned subsidiary AV Aluminium Inc. The deal made Hindalco the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia, as well as being Indias leading copper producer. Hindalco Industries Ltd has completed its acquisition of Novelis Inc under an agreement in which Novelis will operate as a subsidiary of Hindalco. Merger: Merger is defined as combination of two or more companies into a single company where one survives and the others lose their corporate existence. The survivor acquires all the assets as well as liabilities of the merged company or companies. Generally, the surviving company is the buyer, which retains its identity, and the extinguished company is the seller. Merger is also defined as amalgamation. Merger is the fusion of two or more existing companies. All assets, liabilities and the stock of one company stand transferred to Transferee Company in consideration of payment in the form of: Equity shares in the transferee company, Debentures in the transferee company, Cash, or A mix of the above modes. Classifications Mergers and Acquisitions Horizontal A merger in which two firms in the same industry combine. Often in an attempt to achieve economies of scale and/or scope. Vertical A merger in which one firm acquires a supplier or another firm that is closer to its existing customers. Often in an attempt to control supply or distribution channels. Conglomerate A merger in which two firms in unrelated businesses combine. Purpose is often to diversify the company by combining uncorrelated assets and income streams Cross-border (International) MAs A merger or acquisition involving a Canadian and a foreign firm an either the acquiring or target company. Acquisition: Acquisition in general sense is acquiring the ownership in the property. In the context of business combinations, an acquisition is the purchase by one company of a controlling interest in the share capital of another existing company. Methods of Acquisition: An acquisition may be affected by agreement with the persons holding majority interest in the company management like members of the board or major shareholders commanding majority of voting power; purchase of shares in open market; to make takeover offer to the general body of shareholders; purchase of new shares by private treaty; Acquisition of share capital through the following forms of considerations viz. means of cash, issuance of loan capital, or insurance of share capital. Takeover: A takeover is acquisition and both the terms are used interchangeably. Takeover differs from merger in approach to business combinations i.e. the process of takeover, transaction involved in takeover, determination of share exchange or cash price and the fulfillment of goals of combination all are different in takeovers than in mergers. For example, process of takeover is unilateral and the offeror company decides about the maximum price. Time taken in completion of transaction is less in takeover than in mergers, top management of the offered company being more co-operative. De-merger or corporate splits or division: De-merger or split or divisions of a company are the synonymous terms signifying a movement in the company. What will it take to succeed? Funds are an obvious requirement for would-be buyers. Raising them may not be a problem for multinationals able to tap resources at home, but for local companies, finance is likely to be the single biggest obstacle to an acquisition. Financial institution in some Asian markets is banned from leading for takeovers, and debt markets are small and illiquid, deterring investors who fear that they might not be able to sell their holdings at a later date. The credit squeezes and the depressed state of many Asian equity markets have only made an already difficult situation worse. Funds apart, a successful Mergers Acquisition growth strategy must be supported by three capabilities: deep local networks, the abilities to manage uncertainty, and the skill to distinguish worthwhile targets. Companies that rush in without them are likely to be stumble. MA Activities in India: MA Activities in India: In 2007, there were a total of 676 MA deals and 405 private equity deals, in 2007, the total value of MA and PE deals was USD 70 billion, Total MA deal value was close to USD 51 billion, Private equity deals value increased to USD 19 billion Growth Drivers: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Globalization and increased competition ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Concentration of companies to achieve economies of scale ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Cash Reserves with corporate Trends: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Cross-border deals are growing faster than domestic deals ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Private Equity (PE) houses have funded projects as well as made a few acquisitions in India Indias Top Mergers and Acquisition 1. Tata Steel-Corus: $12.2 billion On January 30, 2007, Tata Steel purchased a 100% stake in the Corus Group at 608 pence per share in an all cash deal, cumulatively valued at $12.2 billion. The deal is the largest Indian takeover of a foreign company till date and made Tata Steel the worlds fifth-largest steel group. 2. Vodafone-Hutchison Essar: $11.1 billion On February 11, 2007, Vodafone agreed to buy out the controlling interest of 67% held by Li Ka Shing Holdings in Hutch-Essar for $11.1 billion. This is the second-largest MA deal ever involving an Indian company. Vodafone Essar is owned by Vodafone 52%, Essar Group 33% and other Indian nationals 15%. 3. Hindalco-Novelis: $6 billion Aluminium and copper major Hindalco Industries, the Kumar Mangalam Birla-led Aditya Birla Group flagship, acquired Canadian company Novelis Inc in a $6-billion, all-cash deal in February 2007. Till date, it is Indias third-largest MA deal. The acquisition would make Hindalco the global leader in aluminium rolled products and one of the largest aluminium producers in Asia. With post-acquisition combined revenues in excess of $10 billion, Hindalco would enter the Fortune-500 listing of worlds largest companies by sales revenues. 4. Ranbaxy-Daiichi Sankyo: $4.5 billion Marking the largest-ever deal in the Indian pharma industry, Japanese drug firm Daiichi Sankyo in June 2008 acquired the majority stake of more than 50 per cent in domestic major Ranbaxy for over Rs 15,000 crore ($4.5 billion). The deal created the 15th biggest drugmaker globally, and is Indias 4th largest MA deal to date 5. NTT DoCoMo-Tata Tele: $2.7 billion Japanese telecom giant NTT DoCoMo picked up a 26 per cent equity stake in Tata Teleservices for about Rs 13,070 crore ($2.7 billion) in November 2008. This is the 6th-largest MA deal involving an Indian company. With a subscriber base of 25 million in 20 circles DoCoMo paid Rs 20,107 per subscriber to acquire the stake. DoCoMo picked up the equity through a combination of fresh issuance of equity and acquisition of shares from the existing promoters. Major MA Deals Undertaken Abroad by India Inc.  · Tata steel buys Corus Plc : 12.1$ billion  · Hindalco acquired novelis: 6$ billion  · Tata buy jaguar and land rover: 2.3$ billion  · Essar steel buys Algoma Steel: 1.58$ billion  · Vodafone buys hutch: 11$ billion  · POSCO to invest in building steel manufacturing plants and facilities in India by 2016  · Goldman Sachs Plans investment in private equity, real estate, and private wealth management Acquirer Target Company Country targeted Deal value ($ ml) Industry Tata Steel Corus Group plc UK 12,000 Steel Hidalgo Novelist Canada 5,982 Steel Videocon Daewoo Electronics Corp. Korea 729 Electronics Dr. Reddys Labs Beta harm Germany 597 Pharmaceutical Suzlon Energy Hansen Group Belgium 565 Energy HPCL Kenya Petroleum Refinery Ltd. Kenya 500 Oil and Gas Ranbaxy Labs Terapia SA Romania 324 Pharmaceutical Tata Steel NatSteel Singapore 293 Steel Videocon Thomson SA France 290 Electronics VSNL Teleglobe Canada 239 Telecom In year 2008.. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ MA deals in India in 2008 totaled worth USD 19.8 bn ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Less compared to last year which stood at 33.1 bn $. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Decline of MA activity was in line with the global activity. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Cross border MA totaled 8.2 ban $ compared to 18.7 ban $. FINANCIAL CHALLENGES FOR THE ACQUISITION The acquisition will expose Hindalco to weaker balance sheet. Besides the company will move from high margin metal business to low-margin downstream products business. The acquisition will more than triple Hindalcos revenues, but will increase the debt and erode its profitability.The deal will create value only after the Hindalcos expansion completion, and due to its highly leveraged position, expansion plans may get affected. Some of the customers of Novelis are significant to the companys revenues, and that could be adversely affected by changes in the business or financial condition of these significant customers or by the loss of their business. (The companys ten largest customers accounted for approximately 40% of total net sales in 2005, with Rexam Plc and its affiliates representing approximately 12.5% of companys total net sales in that year). Novelis profitability could be adversely affected by the inability to pass through metal price increases due to metal price ceilings in certain of the companys sales contracts. Adverse changes in currency exchange rates could negatively affect the financial results and the competitiveness of companys aluminium rolled products relative to other materials.The Companys agreement not to compete with Alcan in certain end-use markets may hinder Novelis ability to take advantage of new business opportunities. The end-use markets for certain of Novelis products are highly competitive and customers are willing to accept substitutes for the company products. Though the Hindalco-Novelis acquisition had many synergies, some analysts raised the issue of valuation of the deal as Novelis was not a profit making company and had a debt of US $ 2.4 billion. They opined that the acquisition deal was over-valued as the valuation was done on Novelis financials for the year 2005 and not on the financials of 2006 in which the company had reported losses. Mergers and Acquisitions in India: The Latest Trends Till recent past, the incidence of Indian entrepreneurs acquiring foreign enterprises was not so common. The situation has undergone a sea change in the last couple of years. Acquisition of foreign companies by the Indian businesses has been the latest trend in the Indian corporate sector. There are different factors that played their parts in facilitating the mergers and acquisitions in India. Favorable government policies, buoyancy in economy, additional liquidity in the corporate sector, and dynamic attitudes of the Indian entrepreneurs are the key factors behind the changing trends of mergers and acquisitions in India. The Indian IT and ITES sectors have already proved their potential in the global market. The other Indian sectors are also following the same trend. The increased participation of the Indian companies in the global corporate sector has further facilitated the merger and acquisition activities in India. Major Mergers and Acquisitions in India Recently the Indian companies have undertaken some important acquisitions. Some of those are as follows: Hindalco acquired Canada based Novelis. The deal involved transaction of $5,982 million. Tata Steel acquired Corus Group plc. The acquisition deal amounted to $12,000 million. Dr. Reddys Labs acquired Betapharm through a deal worth of $597 million. Ranbaxy Labs acquired Terapia SA. The deal amounted to $324 million. Suzlon Energy acquired Hansen Group through a deal of $565 million. The acquisition of Daewoo Electronics Corp. by Videocon involved transaction of $729 million. HPCL acquired Kenya Petroleum Refinery Ltd. The deal amounted to $500 million. VSNL acquired Teleglobe through a deal of $239 million. When it comes to mergers and acquisitions deals in India, the total number was 287 from the month of January to May in 2007. It has involved monetary transaction of US $47.37 billion. Out of these 287 merger and acquisition deals, there have been 102 cross country deals with a total valuation of US $28.19 billion. Valuation in a merger: Determination of share exchange ratio 1. Net Value Asset (NAV) Method NAV is the sum total of value of asserts (fixed assets, current assets, investment on the date of Balance sheet less all debts, borrowing and liabilities including both current and likely contingent liability and preference share capital). Deductions will have to be made for arrears of preference dividend, arrears of depreciation etc The three steps necessary for valuing share are: Valuation of assets Ascertainment of liabilities Fixation of the value of different types of equity shares. 2. Yield Value Method This method also called profit earning capacity method is based on the assessment of future maintainable earnings of the business. While the past financial performance serves as guide, it is the future maintainable profits that have to be considered. Earnings of the company for the next two years are projected (by valuation experts) and simple or weighted average of these profits is computed 3. Market Value Method This method is applicable only in case where share of companies are listed on a recognized stock exchange. The average of high or low values and closing prices over a specified previous period is taken to be representative value per share. CAUSES FOR FAILURE OF MERGERS AND ACQUISITIONS It is clear from the findings of the earlier scientific studies and reports of consultants that MAs fail quite often and consequently, failed to create value or wealth for shareholders of the acquirer company. A definite answer as to why mergers fail to generate value for acquiring shareholders cannot be provided because mergers fail for a host of reasons. Some of the important reasons for failures of mergers are discussed below: Size Issues: A mismatch in the size between acquirer and target is one of the reasons found for poor acquisition performance. Many acquisitions fail either because of acquisition indigestion through buying too big targets or by not giving the smaller acquisitions the time and attention it required Moreover, when the size of the acquirer is very large when compared to the target firm, the percentage gains to acquirer will be very low when compared to the higher percentage gains to target firms. They find that the smaller acquirer companies do more profitable acquisitions while larger acquirer companies do deals that cause their shareholders to lose acquisitions. Diversification: Very few firms have the ability to successfully manage the diversified businesses. Lot of studies found that acquisitions into related industries consistently outperform acquisitions into unrelated around 42% of the acquisitions that turned sour were conglomerate acquisitions in which the acquirer and acquired companies lacked familiarity with each others businesses. Unrelated diversification has been associated with lower financial performance, lower capital productivity and a higher degree of variance in performance for a variety of reasons including a lack of industry or geographic knowledge, a lack of focus as well as perceived inability to gain meaningful synergies. Unrelated acquisitions which may appear to be very promising may turn out to be a big disappointment in reality. For example, Datta et al. find that the presence of multiple bidders and the conglomerate acquisitions have a negative impact on the wealth of the bidding shareholders. Poor Organization Fit: Organizational fit is described as the match between administrative practices, cultural practices and personnel characteristics of the target and acquirer states that organisation structure with similar management problem, cultural system and structure will facilitate the effectiveness of communication pattern and improve the companys capabilities to transfer knowledge and skills. Need for proper organization fit is stressed by management. Mismatch of organization fit leads to failure of mergers. Poor Strategic Fit: A Merger will yield the desired result only if there is strategic fit between the merging companies. But once this is assured, the gains will outweigh the losses. Mergers with strategic fit can improve profitability through reduction in overheads, effective utilization of facilities, the ability to raise funds at a lower cost, and deployment of surplus cash for expanding business with higher returns. But many a time lack of strategic fit between two merging companies, especially lack of synergies results in merger failure. Strategic fit can also include the business philosophies of the two entities (return on investment versus market share), the time frame for achieving these goals (short-term versus long term) and the way in which assets are utilized high capital investment or an asset stripping mentality Striving for Bigness: Size is an important element for success in business. Therefore, there is a strong tendency among managers whose compensation is significantly influenced by size to build big empires the concern with size may lead to acquisitions. Size maximizing firms may engage in activities which have negative net present value Therefore when evaluating an acquisition it is necessary to keep the attention focused on how it will create value for shareholders and not on how it will increase the size of the company. finds that the results of his study are consistent with the takeovers being motivated by maximization of management utility reasons, rather than by the maximization of shareholders wealth. Poor Cultural Fit: The relationship between cultural fit and acquisition implementation is highly related. It is difficult to undergo a successful implementation without adequately addressing the issues of cultural fit. Cultural fit between an acquirer and a target is often one of the most neglected areas of analysis prior to the closing of a deal. However, cultural due diligence is every bit as important as careful financial analysis. Lack of cultural fit between the merging firms will amount to misunderstanding, confusion and conflict. Limited Focus: If merging companies have entirely different products, markets systems and cultures, the merger is doomed to failure. Added to that as core competencies are weakened and the focus gets blurred the effect on bourses can be dangerous. Purely financially motivated mergers such as tax driven mergers on the advice of accountant can be hit by adverse business consequences. Conglomerates that had built unfocused business portfolios were forced to sell non-core business that could not withstand competitive pressures. The Tatas for example, sold their soaps business to Hindustan Lever i.e. merger of Tata Oil Mill Company with Hindustan Lever Limited (Banerjee [7]). Failure to Examine the Financial Position: Examination of the financial position of the target company is quite significant before the takeovers are concluded. Areas that require thorough examination are stocks, saleability of finished products, value and quality of receivables, details and location of fixed assets, unsecured loans, claims under litigation, and loans from the promoters. A London Business School study in 1987 highlighted that an important influence on the ultimate success of the acquisition is a thorough audit of the target company before the takeover (Arnold [5]). When ITC took over the paper board making unit of BILT near Coimbatore, it arranged for comprehensive audit of financial affairs of the unit. Many a times the acquirer is mislead by window-dressed accounts of the target Failure to Take Immediate Control: Control of the new unit should be taken immediately after signing of the agreement. ITC did so when they took over the BILT unit even though the consideration was to be paid in 5 yearly instalments. ABB puts new management in place on day one and reporting systems in place by three weeks Failure of Top Management to follow Up: After signing the MA agreement, the top management should be very active and should make things happen. Initial few months after the takeover determine the speed with which the process of tackling the problems can be achieved. It is very rarely that the bought out company is firing on all cylinders and making a lot of money. Top management follow-up is essential to go with a clear road map of actions to be taken and set the pace for implementing once the control is assumed Failure of Leadership Role: Some of the roles leadership should take seriously are modeling, quantifying strategic benefits and building a case for MA activity and articulating and establishing high standard for value creation. Walking the talk also becomes very important during MAs CONCLUSION Mergers and acquisition has become very popular over the years especially during the last two decades owing to rapid changes that have taken place in the business environment. Business firms now have to face increased competition not only from firms within the country but also from international business giants thanks to globalization, liberalization, technological changes and other changes. Generally the objective of MAs is wealth maximization of shareholders by seeking gains in terms of synergy, economies of scale, better financial and marketing advantages, diversification and reduced earnings volatility, improved inventory management, increase in domestic market share and also to capture fast growing international markets abroad. But astonishingly, though the number and value of MAs are growing rapidly, the results of the studies on the impact of mergers on the performance from the acquirers shareholders perspective have been highly disappointing. In this paper an attempt has been made to draw the results of some of the earlier studies while analyzing the causes of failure of majority of the mergers. While making the merger deals, it is necessary not only to look into the financial aspects of the deal but also to analyse the cultural and people issues of both the concerns for proper post-acquisition integration and for making the deal successful. But it is unfortunate that in many deals only financial and economic benefits are considered while neglecting the cultural and people issues. Thus in nut shell we can say that MA have become common in our countrys business set up. There is a tremendous need for people to grow and become global players expanding their business spheres. If success is to be achieved in MA cohesive, well integrated and motivated workforce is required who is willing to take on the challenges that arise in the process of MA and there should be proper organization among employees and they should be provided with proper working conditions.

The Reasons For The American Revolution - 992 Words

Although the outcomes of the American Revolution only affected rich, white landowners at the time, it unknowingly provided the stepping stones that will later create equality and liberty for all people in the United States. This historic revolution provided a representative democracy in which future generations may pass or amend laws based on the people’s needs; a radical thought at the time. Other countries since then, such as France and Haiti, have followed the footsteps provided by America in creating their own representative democracy which has historical significance that a revolution that oppressed women and slaves in 1781 can influence other countries to become independent. The main reason for the American Revolution was to abolish tyranny, oppression and create a representative democracy which can be altered or abolished if deemed necessary by the people. Great Britain’s self-interests in land, resources and revenue negatively affected the colonists through unnecessary wars, laws, and taxes. The Seven Years’ War between Britain and France for land claims laid the groundwork for conflict in the colonies due to the immense debt and taxes it brought afterward. As stated in Thomas Paine’s Common Sense, the sole purpose of government is to protect life, liberty, and happiness and should be judged based on whether it accomplishes that goal. The King of Great Britain had failed to do so, according to Thomas Paine and many others. Although many colonists wanted to reconcileShow MoreRelatedReasons For The Revolution Of The American Revolution2327 Words   |  10 PagesCircumstances that lead colonists to the American Revolution The American Revolution was one that was not started in a day, a week, or even a year. Rather, there were many actions taken and many circumstances that led the colonies toward a revolt. The clashing of colonists and the British caused ill feelings and tensions that built up to violence in some cases. Though the most important of those many factors may be debated, there are 3 that can be broken down to show their significance. The repressionRead MoreReasons For The American Revolution1574 Words   |  7 Pages There are many reason for the American Revolution; however, I broke them up into four major groups: economic causes, ideological causes, strategic causes and political causes. The Proclamation Line of 1763 prohibited American settlement west of Appalachians, protecting Indian fur trade with Britain but limiting American settlement and land speculation. The British government sought to curtail American smuggling and avoidance of British mercantile regulations and customs duties. It also soughtRead MoreThe Main Reason The American Revolution Was Caused Was1395 Words   |  6 Pages The main reason the American Revolution was caused was because the tax of the colonists by the British, in which led the end of the seven-year war of the French and Indian. This issue was more engaged in the North more than the South because of their politician differences. The people that were business leaders, politicians, etc, did not like the situation that was going on they had their particular economy and political interests in enlightenment just to get people the big massesRead MoreAdvantages and Reasons Why the American Colonists Won over the British in the American Revolution1257 Words   |  6 PagesAdvantages and reasons why the American colonists won over the British in The American Revolution During the American Revolution, The British and the American colonists had many difficulties and challenges to overcome. Both sides had great disadvantages and advantages, but the in the end the colonists had the most advantages and won their independence from the British. Some of the most important reasons the colonists won was that they were fighting on their own continent and knew the land betterRead MoreThe Battle Of The American Civil War905 Words   |  4 PagesThe American Civil war occurred about seventy-eight years after the American Revolution, and has many of the same characteristics of a revolution. In both wars, the American people fought for what they believed in and the way of life that they wished to live. However, the two wars differ from each other, as the soldiers that fought in the Civil War fought a new American Revolution that could have split the new world. The Confederate soldiers in the Civil War fought to keep their way of life withoutRead MoreCauses Of The American Revolution718 Words   |  3 Pages The American Revolution took place from 1765 to 1783. There are many well known reasons for the start of the American Revolution like king George III trying to impose tyranny over all the people by heavily taxing the American people and also the problem with trying to control people from the other side of the world. But there is one reason that is often not mentioned, and that is the American Revolution was also fought to preserve slavery. At the time slavery was a normal thing and to thinkRead MoreSavannah Whiting, Carson Lilley, Kennethan Heng . Mr. Porter.1168 Words   |  5 Pagesthree eras of revolution showcase various changes and continuities. The three-hundred year span features revolutions that started because of an assortment of different reasons, while many of them are practically duplicates in their results of the conflict, such as a government being abolished. Although these revolutions present diverse changes over time, the essence of almost every revolution in all three time periods reveals significant continuities between them. The European Revolutions of the 1700sRead MoreWhat Factors During The Colonial Period Essay1636 Words   |  7 Pagescolonial period led to American colonists declaring independence from the British Empire? Be sure to discuss the economic, political, and cultural aspects of the American Revolution. PROVISIONAL HYPOTHESIS: The structure of America revolution to address a various issue, which has great impact on America It, was the procedure where the thirteen colonies of North America became independent of Great Britain also then formed a new integrated government. The major reasons of America revolution are cultural, economicRead MoreThe American Revolution Essays1027 Words   |  5 Pagesthe of the American Revolution .During the American Revolution the Seneca people had a critical role. The 3 three Seneca Chief’s , Big Tree, Corn Planter, and Half Town wrote a letter to them asking George Washington to stop killing their people. Some of the Seneca people joined the British, an interesting fact. Who were considering a revolution despite the fact that Native American’s didn’t do anything ? After the research that been done, it can be proven that the American Revolution was actuallyRead MoreThe Causes Of The American And French Revolution742 Words   |  3 PagesBoth the Amer ican and French Revolution were times when the people were tired o f being pushed around and rebelled against their own government to try to make it better for the people. The American revolution came before the French Revolution happened. The French Revolution was based on the American revolution. The leader of the American revolution were George Washington, Thomas Jefferson, Benjamin franklin, and John Adams. The leader of the French Revolution were napoleon Bonaparte. One cause