Customer Perception on Fmcg Products in Rural Market

MODULE-I 1. 1. Prologue TO FAKE PRODUCTS â€Å"A provincial buyer is brand faithful and this likewise makes it simple to sell look-alike†  â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â  †Mr. R. V. Rajan, CMD, Anuragh Fake items are of two sorts †one: fake items and two: go off items. Fake items are phony items that bear indistinguishable name of item/bundling/illustrations/shading plan and even same name and address as the authentic manufacturer.Someone produces these to look precisely like genuine items other than the lawful proprietor of the genuine items, trademarks and item bundling. Here and there it is turning out to be increasingly more hard to tell which is the real â€Å"Ponds† baby powder and â€Å"Clinic Plus† cleanser from the phony items. Go off items utilize comparative sounding or are comparative in spellingâ (for model â€Å"Luk† for â€Å"Lux†, â€Å"510† for â€Å"501†, â€Å"Saveena† for â€Å"Sabeena†, â€Å"Sun Max† or â€Å"Super Master†. They utilize comparative kind of bundling or shading or structures. They come out with the intention of deceiving and tricking common customers who are uneducated or in a rush in buying products.A study led by AC Nielson, an exploration office uncovers that FMCG industry loses around 2500 crores yearly to fakes and go off items. As indicated by Ashok Chhabra, Executive Director, P&G the phony items are influencing the deals of driving brands to the degree of 20 to 30 percent. Another ongoing overview directed by AC Nielson uncovers that top brands in India are evaluated to lose up to 30 percent of their business to counterfeit items. Other than the loss of income, the main organizations likewise face the misfortune in the harm to mark picture and brand devotion of consumers.Laws Governing Following are the laws under which lawful move can be made against makers and merchants of phony items: * Indian Penal Code 1860 * Drugs and Cosmetics Act, 1940 * Prevention of Food Adulteration Act, 1954 * Consumer Protection Act, 1986 * Bureau of Indian Standards Act, 1986 * Trademarks Act, 1999 The provincial customers by investigating the promotions of driving chocolate organizations unwittingly buy the phony chocolate brands as a result of their motivations. Subsequently, the scientist has led an overview in the unimportant shops in country territories to discover the phony chocolates available.List of Fake Chocolates/Toffees accessible in rustic regions * Dairy Milk:Daily Milk * Kit Kat:Kir Kat * Coffee Bite:Coffee Toffee * Mango Bite:Mango Ripe and mango chomp * Aasai:Aasha * Polo:Rolo * Vicks: Vibex It has been discovered that phony chocolates and toffees are accessible in increasingly number of insig nificant shops for the main brands. Techniques for Chocolate/Toffee Companies in Rural Marketing (to execute counterfeit brands) * Product: Without settling on quality, the main chocolate organizations can decrease their size to coordinate the provincial interest. Pricing: As the provincial purchasers are made a big deal about economy valuing the main chocolate organizations can follow the technique of â€Å"penetration pricing† * Physical Distribution: Sales experts of the neighborhood district who have recognition in the nearby (territorial) language can be delegated to care for the deals of country territories, so they can without much of a stretch chat with the retailers and can construct altruism. Counterfeit brands exist in country just as urban areas. In any case, the issue is progressively intense in rustic zones particularly the profound pockets which are less available and individuals have next to no information about the first brands. The vast majority in rus tic India can perceive letters in order yet not complete words, so during an examination, we found a ton of tests of phony Clinic Plus cleanser sachets where the visual was like the first brand however the name was changed to ‘Clinton’ as Bill Clinton was to show up soon in the nation. During another such assault, we gathered around 99 variations of Fair&Lovely cream including Fair&Lonely, Far and Lovely and so forth †, said Mr. Pradeep Kashyap, president, Rural Marketing Association of India (RMAI) and CEO, MART while sharing a fascinating occurrence with regards to past.The Indian country scene being dispersed in littler towns, getting entrance in every one of them is a repetitive undertaking for brands. Likewise, the vast majority of the FMCG brands have not had the option to set up a productive circulation arrange in such territories. The nearby business visionaries are very much aware of these difficulties. Consequently, exploit by assembling modest s ubstitutes of unique brands, misdirecting the provincial buyers. These makers have a bit of leeway of being neighborhood and in this way arrive at the shops before the first brands do. Such fakes piggy back on colossal showcasing financial plans of FMCG companies.The provincial buyers know about the brand inferable from advertisements communicated on radio and TV stations. In any case, on time of procurement, the shoppers will in general pick their phony partners because of inaccessibility of unique item or get tricked by the retailers who deliberately sell modest items for higher edges. Over the time the portion of phony items in the FMCG showcase has developed to 10-15% causing a profound gap in the pockets of the FMCG organizations. An investigation directed by AC Nielson, an examination organization uncovers that FMCG industry loses around 2500 crores yearly to fakes and go off products.In another ongoing overview led by AC Nielson uncovers that top brands in India are evaluated to lose up to 30 percent of their business to counterfeit items. Other than the loss of income, the main organizations likewise bear the harm to mark picture and brand faithfulness of shoppers. On an entire, the brands endure as far as income as well as need to settle on the brand picture which for no situation can be fair. In this way, different brands have thought of extraordinary methodologies to defeat their weaknesses in the rustic markets and check the development of phony brands in provincial areas.Companies like Coca-Cola have set up an intricate framework to control the danger ofâ duplicate makers, offering motivators to witnesses. It has 48 buyer reaction organizers over the nations who workâ with their groups and change customer protests legitimately, including cheating and fake packaging. In addition, it has a huge system ofâ route sales reps who have a balanced relationship with the retailers on their beat and hold their ears to the ground. At the point when they sp ot dubious movement, they educate organization officials.So however it is difficult to stop forgers absolutely, it is conceivable to limit the harm they cause. Redesigning the item bundling intermittently or dispatch item variations with the goal that the makers of fakes think that its hard to duplicate their items. Hindustan Lever has started unique carefully designed packs for its antiperspirant shower ‘AXE’, whose spout can’t be isolates from the body while Procter and Gamble utilizes extraordinary names for its Vicks Vapo Rub which doesn't strip off regardless of whether absorbed for the time being water. This makes it hard for false merchandise creators to imitate.Stopping the fakes advertise is a long procedure yet it’s progressively significant for organizations to make mindfulness among the buyers about the evil impacts about such phony items and the risks they present. Geographic areas: Rural shopper conduct is likewise impacted by the geographic area of the purchasers. For instance, closeness to feeder towns and mechanical tasks impact the purchasing conduct of shoppers in the separate groups of towns. We are examining this viewpoint in detail in the area on showcase division in country markets.To refer to one more case of how geographic area influences purchasing conduct, we can call attention to the way that the absence of power in numerous rustic families goes about as an obstruction to the acquisition of certain purchaser durables. Introduction to urban ways of life: Extent of presentation of country buyers to urban ways of life additionally impacts their purchasing conduct. An expanded introduction and connection with urban networks has been the pattern as of late. The manner in which the customer utilizes the items: The circumstance where the buyers use the item likewise impacts their buying.The case of absence of power influencing purchasing conduct represents this point too. Absence of power naturally expands the ac quisition of batteries by rustic buyers. So also, since provincial customers can't utilize washing powders/cleanser powders that much, as they wash their garments in streams or lakes, they go in additional for washing bars and cleanser cakes. Spots of procurement: Buying conduct of country customer additionally changes relying upon the spot of procurement. Various sections of provincial purchasers purchase their prerequisites from better places/outlets.Some purchase from the town retailers; some from town markets/fairs; others purchase from the town that fills in as the feeder to the country territory. It is additionally observed that a similar purchaser purchases various prerequisites from various bands. For understanding the purchasing conduct of the provincial shopper effectively, the advertiser must pose the inquiry: Where from do they purchase the items and why? Inclusion of others in the buy: Involvement of others in the buy in the buy choice is one more pertinent factor in su ch manner. There has been a change here in ongoing years.In the past, the leader of the family used to settle on the buy choice without anyone else. Interestingly, the association of different individuals from the family in the buy choice has been developing as of late. An expansion in proficiency combined with more prominent access to data has brought about this turn of events. The advertiser needs to figure the job

Satisfaction Motivation Hygiene

Fulfillment Motivation Hygiene Genuine inspiration originates from accomplishment, self-improvement, work fulfillment and acknowledgment. This announcement comprises the center proposition of the significant scholar we will examine. Frederick Herzberg was a significant therapist who got one of the most huge names in the executives on the 60s. His speculations are as yet perceived as having been urgent to the improvement of the administrative sciences. The motivation behind this paper is to logically examine the effect and outcomes that his hypotheses have had in the field of present day the executives. He is generally perceived for his work on work improvement and for his Motivation-Hygiene Theory. Frederick Herzberg was conceived on April, nineteenth of 1923 in Lynn, Massachusetts. Herzberg was an understudy at the City College of New York. He intruded on his examinations halfway to enroll in the military, coming back to graduate in 1946. He kicked the bucket in Salt Lake City in mid 2000. Seeing a death camp in World War II, just as chatting with Germans he experienced during the War, were the impetuses he accepted to be liable for his enthusiasm for inspiration. He communicated this enthusiasm for inspiration by considering the variables that impact people groups conduct in associations. His Motivation-Hygiene Theory or Two Factor Theory of Job Satisfaction was distributed in 1959. The two elements affecting individuals as per his hypothesis were: Fulfillment because of propelling components, for example, accomplishment, acknowledgment, advancement, obligation, development. Disappointment because of cleanliness factors including: pay and advantages, organization strategies, relationship with collaborators, the workplace, employer stability, worker status, oversight, organization resources. (Herzberg, 1959) He esteemed that persuading components will improve fulfillment, however their effect on disappointment will be inadequate. (Herzberg, 1959) Then again, if cleanliness factors are absent they will cause disappointment, yet their essence doesn't fundamentally influence fulfillment in the long haul. Integral to the understanding of this hypothesis will be the acknowledgment of the presence of variables that genuinely inspire (spurring elements) and others that could prompt disappointment (cleanliness factors). Herzberg thought about human needs on two levels: the creature sense of keeping away from torment, and the need of individual mental turn of events. Also, quite a while in the past, Maslow saw impeccably and attempted to teach administrative principals that even today, numerous associations have neglected to initiate. Herzbergs hypothesis stays as pertinent now as it was the point at which it was first distributed. But the way that duty, equity, decency and sympathy are worldwide principles in contemporary business. Aside from his principle speculations, comprehend that Herzbergs essential concern was the prosperity of hierarchical workforces. He was resolved to present greater mankind and caring principals into the working environment. He concentrated on disclosing how to oversee individuals sympathetically, in light of a legitimate concern for their solace. So the inquiry we could present is: How significant are high wages for us to feel fulfilled? Intriguingly, the appropriate response will be that in spite of the fact that individuals whine about their profit continually, reviews and research have demonstrated that there are factors that have more inspirational influence than cash when settling on choices concerning the working environment. In studies, the reasons that will in general top the rundown are absence of occupation improvements and poor possibility of progression. Herzberg accepted that these inspirations would produce positive work mentalities since they fulfill one of Maslows various leveled needs: the requirement for self-realization a definitive human need (Maslow, 1954). Be that as it may, the nearness of these variables can cause fulfillment, yet when they are absent, it doesn't prompt disappointment. Paradoxically, cleanliness factors which basically motivation transitory outcomes, groups the intensity of making extraordinary disappointment, yet absence of these elements in the work environment doesn't cause a huge level of fulfillment. For Herzberg, something contrary to fulfillment in the working environment won't be disappointment, essentially absence of fulfillment. Similarly, something contrary to disappointment in your activity won't be fulfillment however no disappointment. As a pragmatic case of this presumption: if the school water were to quit running for seven days, this would speak to a work conditions cleanliness factor, and it would warrant our teachers to feel disappointed. Be that as it may, since our teachers are typically familiar with the water running and working appropriately, it doesn't give them motivation to feel especially inspired or fulfilled. In 1968, Herzberg introduced a work called KITA (a well mannered abbreviation for â€Å"kick in the ass†), where he separated among inspirational and development factors (Herzberg, 1968) He ordered KITA into three various potential sorts: Negative physical KITA Negative physiological KITA Positive KITA Absolutely, in current society, supervisors rarely manage their representatives utilizing negative KITA, which is the utilization of physical contact on an individual from the staff to uphold work. Negative KITA is in fact genuinely pointless as an instrument to propel laborers. Positive KITA on the other hand can be summed up in the word reward. It is the demonstration of remunerating an activity with rewards or motivations. Despite the fact that this is a typical practice for present day directors, as per Herzberg, positive KITA isn't persuasive. Positive KITA will make development a lot quicker, reassuring the specialist to perform at his best in a specific assignment. Nonetheless, he thought about that there were no realities to demonstrate that the impacts of this prize would have enduring outcomes. He accepted that people were not really persuaded to work more enthusiastically in the wake of finishing the undertaking, as a result of a prize. He decided that the laborers were simply incidentally moved, and consequently their exhibition didn't persevere once the extra was gotten. So he believed compensations to be a minor development factor. Alluding to the persuasive factors recently refered to in this paper, he presumes that lone the accomplishment of these elements can make enduring fulfillment for the representatives, and in this manner a superior work disposition. Also, when the workforce discovers this incitement inside in the working environment, they will perform all the more productively. Herzbergs hypothesis has been condemned by the scholar, Locke. (Locke, E. 1976) He proposed exchange hotspots for the age of employment fulfillment. He accepted the psyche and the body to be inseparably related. What's more, along these lines, the target ought to be to fulfill them both. For instance, he gives the natural need of yearning, and he indicates that a demonstration like eating can serve not exclusively to suppress cravings for food, yet additionally as delight for the psyche. Herzberg put accentuation on the occasions a specific factor was refered to in arriving at his decisions, accepting that those more experienced on the rundowns were the most fulfilling or disappointing components. In any case, regardless of whether a disappointing element was enlisted various occasions, it doesn't really follow this was a significant issue or even that the workers thought that it was more peevish than rare issues, which will in general make more elevated levels of disappointment for them. On the other hand, Locke proposes the prioritization of power over recurrence. He perceived that a representative could arrive at his greatest degrees of force when either accomplishing or bombing an errand. (Locke, E. 1976) Breaking down the announcements in Herzbergs hypotheses, it turns out to be certain that they are fairly oversimplified. One may handily envision that what gives rise to inspiration to one individual, could well be the reason for disappointment in another person. For instance, the extension of duties can be a reasonable spark for certain individuals as they can subsequently create in their professions. Simultaneously, it tends to disappoint for others, particularly if their wages are not relatively connected to the obligations that they have accepted. It may be important to consider the truth that representatives ought not be viewed as a homogeneous gathering, yet as an aggregation of people, of whom just an extent will be spurred by some random factor. It will consequently be reasonable upon each chief to set aside the effort to attempt to decide the remarkable attributes of every individual from his workforce. In this manner, will he appreciate what is important to pick up the fulfillment of his workers. Despite the fact that Herzbergs Motivation-Hygiene Theory, when dissected profoundly, may appear to be to some degree deficient or fundamental, it is difficult to dismiss that it is given trustworthiness and has been concentrated from not long after its underlying distribution up until the current day. Therefore, it very well may be asserted that, even with its deficiencies, there is a great deal of truth in the hypothesis, and that the various elements he refered to are commonly bound to cause fulfillment/disappointment to the workforce of an association. Without a doubt, Frederick Herzbergs primary commitment to present day the board has been his acknowledgment of the variables that could persuade or disappoint a workforce. It was through his thoughts and research that we currently realize that individuals try to get â€Å"hygiene needs† only as a response of inconvenience, caused when the elements to accomplish those requirements are missing. At that point and now, ineffective associations neglect to comprehend that it its extremely hard to really inspire their staff by focusing on meeting their cleanliness needs. Simultaneously, individuals are genuinely spurred, and henceforth perform at their best, when the persuasive variables are accomplished (i.e.: self-improvement, advancement, and so on.) which come to separate themselves from the cleanliness factors in light of the self-satisfaction they make for people. In the expository investigation of the subtleties of Herzbergs hypothesis, we should seriously think about a real model drawn from day by day life. Lets take the model

Out of the lab and into the internet

Out of the lab and into the internet First, some updates: A few people have asked about information on applying to engineering graduate programs at MIT. I am trying to find that information; first I emailed one of the cheerleaders, Lisa 04, who is currently doing her MEng in the EECS department, but she told me she couldnt answer any questions since shes in the MEng masters program, which is only for students who did their undergraduate work at MIT (and has a different admissions process from the general masters program). Next, I emailed my friend Ethan 05, who is currently in the MechE program, but he hasnt gotten back to me, so this morning I emailed former cheerleader Caitlin SM 05, who got her masters in aero/astro last spring. (Yes, two of the people I know well in MIT graduate programs are cheerleaders or former cheerleaders. Yes, our little world is very counterintuitive and topsy-turvy. You should get used to that.) And a question via email: Yasemin asked (via email), Do you consider MIT graduate biology? I have heard somewhere that except for the computer major, the MIT undergraduate students arent considered for graduate work at MIT, is this true? In lieu of responding to her email (Ive been taking a godawful long time to respond to emails lately, except those from Ben, which always catch me at just the right time), Ill answer here. Yes, I did apply to the MIT biology PhD program, and Ill be interviewing there in three weeks. (All of the schools at which Im interviewing pay for travel and lodging expenses during the interview weekend. Given that information, I think I should make the biology department pay for my dorm room.) This is actually the first year the biology department is allowing MIT biology undergrads to apply to the program (see story here), so Im excited that I had the opportunity to apply and be interviewed. Its not true that only the EECS department allows MIT students to stay for graduate school. Actually, MIT is the top graduate school destination for MIT graduates (see page 5 of this data set). Some departments really dont like inbreeding, but others are very enthusiastic about it. Ill offer this warning, though: no matter how much you might think you are omg in love with MIT right now, its very possible that youd want to go somewhere else for graduate school. Your research interests might change hell, you just might want to be able to live in a new place. If youre considering a career in academia, you probably ought to go somewhere else so you can make more varied connections in your field. So, please, make your decision to come or not come to MIT based on whats best for you right now; dont worry about whether or not youll be able to get into MIT for graduate school. Departments which dont accept MIT undergrads generally send most of their graduating seniors to other schools which a re none too shabby, Ill tell you that much: youll be able to get into a grad school after going through MIT. A confession: Dan and Laura noticed that the title of my last entry was from a song played in The Princess Diaries. And yes, yes it was. (And I cant find the song on iTunes. Believe me, this has been the single most frustrating thing about my week.) I have to confess this weird love of songs from completely ridiculous movies my iPod Motivation playlist contains songs from the movies Ice Princess, Save the Last Dance, and Legally Blonde. There are probably more, too. I really have no excuse for this sort of behavior. I swear, I watch deep, angst-filled movies too Closer is one of my favorites but I have this bizarre affinity for feel-good bubblegum girl-hero movies. A run-in: I ran into Bryan yesterday on the fifth floor of the Student Center right after I had gotten off the phone with one of the admissions officers at Harvards Biomedical Sciences program they told me that my application had been recommended to the program for acceptance, and that they wanted me to attend one of their recruitment weekends. Needless to say, it is very lucky for Bryan that I was on the phone with my mom, because I very well may have tackled him in my excitement otherwise. Some questions: 1. Shikhar asked the speed of MITs internet connection. You know, I actually dont know the speed off the top of my head (the computer Im on at the lab is swearing to me that its 1 Gbps, but that just sounds absurd to me) but its ethernet and most of the time its very fast. 2. I agree with Kathleen and Shannon that Freakonomics is a great book. (And Shannon, I was right at the point you were talking about when I read your comment!) You, too, should read this book, and maybe some of the other books Ive read recently. 3. Hooray, Im famous! Ooookay, off to develop a Western blot, then Adams parents are picking us up and were going to Lake Placid, NY for this weekends death-defying freestyle moguls competition! (You know that guy, Jeremy Bloom, whos all over your television advertising NBCs Olympic coverage? Yeah, hes totally friends with my boyfriend.)

Definition and Examples of a Molecule

The terms molecule, compound, and atom can be confusing! Heres an explanation of what a molecule is (and is not) with some examples of common molecules. Molecules form when two or more atoms form chemical bonds with each other. It doesnt matter if the atoms are the same or are different from each other. Examples of Molecules Molecules may be simple or complex. Here are examples of common molecules: H2O (water)N2 (nitrogen)O3 (ozone)CaO (calcium oxide)C6H12O6 (glucose, a type of sugar)NaCl (table salt) Molecules Versus Compounds Molecules made up of two or more elements are called compounds. Water, calcium oxide, and glucose are molecules that compound. All compounds are molecules; not all molecules are compounds. What Is Not a Molecule? Single atoms of elements are not molecules. A single oxygen, O, is not a molecule. When oxygen bonds to itself (e.g., O2, O3) or to another element (e.g., carbon dioxide or CO2), molecules are formed. Learn more: Types of Chemical BondsList of Diatomic Molecules

Effects of Violent Media on the Youth Essay - 1700 Words

It is that time of year again. With the Holidays closing in on the horizon, parents are scrambling to buy their children that perfect present. With that in mind, many parents will buy their little boys and girls the latest addition to the Microsoft Xbox family, the Xbox One, which is perhaps the hottest gift this season. Everybody wants it. But most of the Xbox games like Call of Duty, Assassin’s Creed, and Halo are extremely violent, depicting war, blood, and gore very nonchalantly. The television channel FX constantly shows movies such as the latest Batman trilogy which includes violent depictions of beatings, graphic shootings, dozens of explosions, neck snapping and back breaking, along with chokings, hand to hand combats, and dead†¦show more content†¦But, the games used in their sessions were Mario Brothers games, and while these contain some violence such has jumping on other character’s heads, etc., Mario Brothers by no means contains the violence that today’s common video games like Assassin’s Creed does. In a statistic that is extremely startling, as many as 73% of parents believe that their children view violent media content at least once a week (Cheng, et al., 2004). But what exactly constitutes violence? Stipp and J. Ronald Milavsky’s (1988) piece entitled U.S. Television Programming’s Effects on Aggressive Behavior of Children and Adolescents brings to light that pollsters always point out that there is â€Å"too much violence on television† but researchers have found that it is extremely difficult to measure and define how much violence is too much violence in television. Television media includes everything from children’s comedy on the Disney Channel and Nickelodeon, to bloody gore movies and shows on FX, HBO, TNT, and others. That is a very wide spectrum to narrow in terms of what children may see on a daily basis. Stipp and Milavsky’s research explains that surveys used to determine aggressiveness and media in children have questionable validity of the key measures. They go on to explainShow MoreRelatedThe Effects Of Violent Media On Youth1977 Words   |  8 Pages The Effect of Violent Media on Youth How many hours did you spend watching TV last week? 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Importance of Communication in Management Free Essays

Communication is one of the basic functions of management; It is vital for accomplish managerial and organizational effectiveness. Good communication aid employees to become more involved in their work and helps them develop a better understanding of their jobs. obvious, exact and timely communication of information also prevents the occurrence of organizational problems. We will write a custom essay sample on Importance of Communication in Management or any similar topic only for you Order Now The accomplishment of an individual in a team depends greatly on the extent to which he can engage in effective communication. The capacity to successfully communicate at work, home, and in life is probably one of the most important sets of skills a person needs to acquire The Elements of the Communication The basics of the communication process are the sender, encoding the message, broadcast the message through a medium, receiving the communication, decoding the message, feedback, and noise. SEVEN STEPS FOR EFFECTIVE COMMUNICATION: Pay attention more cautiously and responsively Give details your formal intent and invite consent. Communicate yourself more clearly and absolutely. Decode your complaints and criticism into specific requests, and explain your requests. Ask questions â€Å"open ended† and more creatively. Articulate more appreciation Make better communication an important part of your everyday life. ELEMENTS OF EFFECTIVE COMMUNICATION: Clarity of Thought and Expression: The talker must first know what he/she wants to express and why. It is very necessary that the communicator be aware of the purpose of his message. Communication without a clear objectives amounts to investigative in darkness The message should be clear in order to solicit effective feedback. Effective communication begins when someone thinks clearly. It is better for communicator should know what you want to communicate. Correctness / Appropriateness: The message should not only be honest and clear, it should also be correct. It should be correct in spelling, sentence structure, content and format. Communicator must ensures that the rules and principle of spelling, syntax, punctuation, usage, and idiom are correctly point. Conducive Environment: The environment in which a message is sent or received can also affect its meaning, shows a research. â€Å"News stories on a general-interest news website might never appear in a newspaper circulated in the financial community. What’ is vital to person who reads in times of war differs from what’s significant in times of natural disaster when traditional media might not even be operating. Communicators have to understand the surroundings in which they are transfer messages to assist their audience received information in the context in which was intended,† argues an expert. Feedback: Communication is a two-way avenue: it needs the efforts of both the sender and the receiver for success. It is a compound process. The communication, in spite of all efforts, may fail just because the receiver somehow fails to provide response or the sender fails to interpret the feedback correctly. â€Å"Communication is so complicated,† asserts a guide, because at each step in the process there is major potential of error. Completeness: Communication intends to create meaning and understanding and therefore needs to be complete in all respects. unfinished message breeds misinterpretation and defective interpretation.. Clarity is vulnerable in absence of completeness. Completeness offers numerous benefits., communications that seem insignificant can be surprisingly important if the information they contain is complete and effective BARRIERS IN COMMUNICATION PROCESS: A NUMBER OF BARRIERS RETARD EFFECTIVE COMMUNICATION Sender obstacle.. Encoding blockade.. Medium obstruction. Decoding obstruction.. Receiver blockade. Feedback barricade. Physical Barriers: Any number of physical disruptions can hinder with the usefulness of communication, including a telephone call, drop-in visitors, distances between people, walls, and static on the radio Semantic Barriers: The problem is semantic, or the meaning of the words we use. The same word may mean diverse things to diverse people. Words and phrases such as efficiency, increased output, management privilege, and just cause may mean one thing to a school administrator, and something entirely different to a staff member Psychosocial Barriers: Three important concepts are associated with psychological and social barriers: fields of experience, filtering, and psychological distance PRESENTATION is a verbal communication that is usually given in a official setup – business, technical, professional or scientific environment. Something set forth to an audience for the concentration of the mind. An effective presentation generates a change in the audience; they become more informed or gain a better understanding of a particular subject. A good presentation is a kind of communication between the speaker and the audience. presentation are an important way of communicating ideas and information to a group. KEY POINTS FOR EFFECTIVE PRESENTATION Lots of background research. Even if the information is not used in the presentation, it is useful to have as much knowledge as possible for the discussion and audience questions. It will assist your confidence too. Be prepared – organize in plenty of time. Structure your presentation. Focus on the question set. Get material from a wide range of supply. Put into practice your presentation. Make use of note cards. Speak clearly. UNDERSTAND YOUR AUDIENCE Research shows that communicators who understand their audience are more doing well in accomplish their communication goals. Understanding audience assist in answering questions like: It is good for communicator to be familiar with your audience, making an familiar list of the category of people who encompass it can assist you move toward the examines essential to understand them. One need to be as specific as possible.. How to cite Importance of Communication in Management, Papers

School Dress Code Essay Example For Students

School Dress Code Essay When thinking about what a school uniform might look like, Angus Young of AC/DC comes to mind. His uniform, or performance costume, is that of an English schoolboy, dressed in a suit type uniform with shorts instead of pants and a funky golfers hat. A group of girls and boys all wearing the same colored uniforms assembled in front of the catholic school down the block is another picture that comes to my mind when thinking about school uniforms. The image of school uniforms has been attached to students of European and private schools. Such images, of students dressing in school uniforms, have led to stereotyping and a negative attitude towards schools enforcing a uniform policy. Children are presented as robots without the ability to express themselves in a society that promotes self-expression and individuality. The problem is that the cost of expressing oneself and being an individual can be astronomical. It is not uncommon to hear that a 15-year-old somewhere was brutally assaulted for a pair of expensive Nike shoes. This notion is directly correlated to competition in fashion instead of academics in the school system. In recent history public schools have considered uniforms to be an ancient and somewhat draconian trend, though recently the provincial government has attempted to implement and enforce a uniform policy in our public school system. The implementation of a school uniform policy is important and necessary to improve the students. The arguments against school uniforms are fading while proponents of uniforms are beginning to gain ground. Some of the key benefits are safety, cost, and uniformity. There are several fundamental issues that school board officials and lawmakers should look at before implementing new policies and laws concerning school uniforms. Firstly, these new laws and policies must have a positive effect on the student populations overall moral and thus their performance. This would not be limited to academic performances only but should also include other socially learned behavior including the students ability to be consistent with preset social norms, a skill necessary to be successful in the world today. Proponents of uniforms say that the academic performance has been increasing, and will increase further by having the students wear them. A lessened degree of attention and concern with fashion will enable a better condition for more thorough study, as well as lessen the economic burden placed on students and parents. Any situation that does not promote the improvement of students in school should be looked at and studied to find ways to change the situation. There are no benefits to worrying about not having the money to buy the most fashionable attire. Would it not be better to be worrying about achieving the best grade, creating the best science project, or handing in an English assignment on time? The whole concept and appeal of brand name clothing is so ingrained into our simplistic minds, that it is uncommon to see any student not wearing or carrying at least one piece of such merchandise. There is no straight path through this problem, but it is possible to flank it. Issuing a school backpack, shoes and a hat would eliminate the students need to wear brand name clothing or accessories of any kind. However, by doing this, we come across the problem of individuality, which is just as important to a students success in life as their study habits. By offering a broader selection of school colors and styles, it is possible to feed the need for individuality while at the same time affording them the opportunity to conform to the rules of the school. The cost of implementing a uniform policy must also be looked at closely. The social norm that all families have different degrees of economic status requires us to address this matter. A student lacking in funds should not be forced to spend all their money on uniforms so they could go to school, leaving them unable to afford after school sports or social events. It would certainly be atrocious if a student should have to money on uniforms in place of nutritious food. .u019ff6c465583ec30a75dea1621f7939 , .u019ff6c465583ec30a75dea1621f7939 .postImageUrl , .u019ff6c465583ec30a75dea1621f7939 .centered-text-area { min-height: 80px; position: relative; } .u019ff6c465583ec30a75dea1621f7939 , .u019ff6c465583ec30a75dea1621f7939:hover , .u019ff6c465583ec30a75dea1621f7939:visited , .u019ff6c465583ec30a75dea1621f7939:active { border:0!important; } .u019ff6c465583ec30a75dea1621f7939 .clearfix:after { content: ""; display: table; clear: both; } .u019ff6c465583ec30a75dea1621f7939 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u019ff6c465583ec30a75dea1621f7939:active , .u019ff6c465583ec30a75dea1621f7939:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u019ff6c465583ec30a75dea1621f7939 .centered-text-area { width: 100%; position: relative ; } .u019ff6c465583ec30a75dea1621f7939 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u019ff6c465583ec30a75dea1621f7939 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u019ff6c465583ec30a75dea1621f7939 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u019ff6c465583ec30a75dea1621f7939:hover .ctaButton { background-color: #34495E!important; } .u019ff6c465583ec30a75dea1621f7939 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u019ff6c465583ec30a75dea1621f7939 .u019ff6c465583ec30a75dea1621f7939-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u019ff6c465583ec30a75dea1621f7939:after { content: ""; display: block; clear: both; } READ: Of Mice And Men Essay There is a simple solution to this financial problem. Giving out uniforms for free or at a subsidized .

Henry Ford Was One Of The Most Brilliant Entrepreneurs In Essays

Henry Ford was one of the most brilliant entrepreneurs in creating the automobile assembly line, it was his controversial characteristics and unorthodox approach towards administrating the Ford Motor Company which resulted in the conglomeration of one of the most successful corporations in the world. At the turn of the century everything was booming! The growth of the economy and stock market increased the job opportunities as well as morals. As a result of this industrial revolution, out of the woodwork came a humble yet driven man, Henry Ford. Between the five dollar/day plan, his policies on administrating the company, and his relations with his customers, Ford was often presented as a suspicious character. This controversial behavior epitomized the success of the company, it did not lead to his own downfall as many suspect. The Anti-Semitic accusations, and the belief that Ford was taking advantage of his customers, were by far overshadowed by his brilliance and strong hand in running his company. Of course, there were not always supporters of Henry Ford. If fact, there were many critics, critics who believed that Henry Ford was so controversial that it prevented the potential of Fords from becoming greater than it is today. By the mid twenties the Fords was already the worlds most successful automobile company, but their great reputation would soon decline. Fords $5/day plan for all employees signified the overwhelming success of the company. Many believed this success was short-lived with the new policies dealing with the workers which soon followed. With the need to increase production and lower costs, in the mid 30s Ford cut all Ford workers wages in half. Workers were expected to work faster, and harder. Department heads were ordered to ban all talking and whistling while work was in progress. All of this was a ploy by Ford to make sure he knew every move of his workers, he was very possessive. Secondly, Ford began to fire older workers and hire younger workers. His ideology was that the younger workers could work more productively and more efficiently. Which in turn would send more money flowing into his pockets. What resulted was quite humorous in fact. Black hair dye became a hot seller in the Detroit area . Older workers tried to disguise their age by dying their hair black. Fords manipulation of his workers was immoral and unjust. There was no industrial democracy, workers were forced to do what they were told or would be out of a job. Henry Fords controversial behavior reflected badly on himself and on the Ford Motor Company. The Anti-Semitic views expressed by Henry Ford could never be denied. It was common knowledge in fact that Henry Ford was prejudice. He wrote an article in the Dearborn Independent expressing his ideas that Jews were the cause of many peoples problems. Henry Ford was sued by a man by the name Aaron Sapiro in the early 1930s. Sapiro had evidence that Ford threatened himself with Anti-Semitic sentiments. Ford was recorded as saying, Sapiro is a shrewd little Jew. The bible says Jews will return to Palestine, but they want to get all the money out of America first. Sapiro should be kicked out because he is trash.. The result of the trial was humiliation for the Ford company and Henry Ford himself. After a hung jury in the first trial, the case was dropped when Ford wrote a lengthy retraction and apologized for his statements. Fords was declining in profits and production among the worlds best. All as a result of Henry Fords ego. Thus, by 1931 Ford lowered in the ranks, controlling only 28% of the market 2nd to GM with 31%. Henry Ford was the godfather of the automobile industry in the early 1900s. The development of his River Rouge plant was considered a industrial Cathedral. Hundreds waited month after month in front of the employment building hoping to be hired. To foreign immigrants it meant hope and a successful future. The River Rouge plant employed over 50,000 employees. Pols, Lithuanians, Germans, almost every western Europe country could be represented at the Ford Plant. Like a father Henry Ford began educational programs, teaching his illiterate employees how to read English. Company picnics, and dinners were all part of Fords policies that were so unusual, yet so brilliant at that time. Of the most controversial actions of Ford was his hiring of criminals. In fact it was said that, thousands of former criminals were taken on the Fords payroll over the course of the years, all at Mr. Fords Requests. Not only was this a highly questionnable decision, but it startled everyone.

US Constitution essays

US Constitution essays The Constitutional Convention met in Philadelphia in May 1787 for the purpose of revising the Articles of Confederation. Almost immediately, delegates unanimously agreed on the need to replace the Articles with a new document that created a stronger central government. However, the delegates could agree on little else after that. The crafting of the U.S. Constitution highlighted the intense conflicts that existed in 1787 between states large and small, between north and south, and between a variety of different political philosophies. But rather than defeating the process, the conflicts between delegates resulted in compromises that strengthened and improved the document. The process of compromise exhibited by the delegates was in many ways reflected in the flexibility the document allowed for continuous political debate, compromise, and adaptation. The delegates based their initial design of government on political theories and their own experience with government under the Articles. The rest of the issues presented themselves in the form of debates over representation, the enumeration of slaves, the control of commerce, the protection of individual rights, and the amount of power granted to the people. Delegates understood that the Articles of Confederation had been severely hampered by the inability to collect taxes and to enforce any of its laws. They also realized that without a strong central government to establish a line of credit, negotiate uniform trade laws, and guarantee domestic peace, they would gain no respect in the world arena and would become an easy target for invasion. The states had taken to petty arguments and jealous behaviors amongst themselves and showed no sign of mutual respect. Therefore, the power to tax, the power of enforcement of the law, and the creation of a national government that was superior to the government of the states became priorities at the Convention. ...

International Tourism In The United States Of America Essay

International Tourism In The United States Of America - Essay Example A number of factors made it possible for people to increasingly visit different places and enjoy a change of scene from their usual environment. Among the factors is the rise of a middle class economy as workers benefited from income generated by working in new industries. This group of citizens had extra income to spend on vacations to different areas of the country occasionally taking a number of days (Shaffer, 2001). Additionally from the late eighteenth century, there were extensive developments in the transport and communication sectors within the US making it easy for people to travel and access information about specific areas they were interested in visiting. The construction of the railroad to link major cities by 1860 was an important step in furthering the increasing interest in tourism especially from entrepreneurs such as Walter Raymond who travelled to California to identify new areas of investment in the area of resort hotel in 1883. Following these developments, there were important developments in tourism as new destinations such as in San Francisco where the Cliff House became an area of interest as well as other places such as Yosemite national Park developed as a tourist attraction from the late 1850s (Shaffer, 2001). The developments in tourism industry from the 18th up to around 1940s majorly benefited the upper class and a few groups of people from the middle class. Additionally, tourism services offered by different players were disintegrated with service providers such as transport agencies, hotels keepers, tour operators and travel agents working as distinct groups within the sector. Each of the service providers worked independent of the other without closer collaborations with those running the hotels strictly being concerned with beds while those in transportation were only concerned with offering passenger services. However, the reality in

Toulmin Schema Essay Example | Topics and Well Written Essays - 1000 words

Toulmin Schema - Essay Example The researcher states that the Federation Aviation Administration (FAA) requires airlines to give their crew a 10-hour rest time before commencing a duty period that includes flying. The ten-hour rest period may include the time a crew takes to commute to or from their houses or hotel room. Moreover, the carriages should not reduce the actual time for sleeping the chance to below 8 hours. Meaning the pilots and crew only have two hours to commute, which practically is not enough, thus they end up eating into their 8 hour sleeping time. Additionally, FAA has extended the length of continuous time off during a one-week period from 24 hours to 30 hours. The flight crewmembers should use the rest opportunity to sleep instead of doing other things during the period. The FAA further asserts that persons whose internal clock may be off due to flipping back and forth between different zones require additional time off. However, airlines rarely observe these rules and regulations. Jochen Wirt z and Loizos Heracleous assert that motivating staff through rewards and recognition has helped Singapore Airlines build desirable behaviors among crewmembers. The airline offers interesting and varied job content, symbolic actions, performance-based share options, and a significant percentage of variable pay components related to a person’s contributions and the airline’s financial performance. The company also provides bonuses based on its profitability. Additionally, the company uses its numerous international accolades, companywide meetings, and open communication to make staff motivated. Motivation and communication have helped Singapore Airlines realize service excellence. This approach has created job satisfaction, and overall, excellent service to customers.

The Changing Value Of The Currency Economics Essay

The Changing Value Of The Currency Economics Essay Exchange rates are relatively the most common issue that any government are willing to analyse. Except from factors such as interest rate and the inflation, the exchange rate is the most important economic indicators that are more likely affecting the largest economy in the world (Hill 2006). This report is aim to provide an overview of the international currency wars in between China and the US which recently have been highlighted in the medium. The Republic of China is one of those countries which economically called as an emerging economy. This decade has seen the rise of China economy in international trade, according to the World Trade Organisation; it is currently the third largest trading nation (WTO.org, 2010). In Section 1, graph figure 1.1 will be analysing the China Yuan against the US$ for the past 12 months starting from 2010 October. Part 2 of the report will be discussing and evaluating the merits of appreciation and depreciation of the Country`s currency related to its economic and business aspect. Briefly describe (with a Figure, labelled Figure 1.1 etc with a title, key and source of the data) the path of the currency against the US$ over the past 12 months Part 2 Figure 1.1 (Source: yahoo.com/finance) Table 1.1 Percentage change Calculation : 1 US$ to China (Renminbi/Yuan) = 02/11/09 = 6.82890 02/11/10 = 6.70090 Source: http://www.oanda.com/currency/historical-rates Percentage change for the past 12 months is 1.9% decreases of Renminbi/Yuan to US$. In other words, the US dollar has appreciated over the 12 months from November 2009 to November 2010. The reason behind this change as compared to previous months, when the Renminbi/Yuan has remained almost fixed for more than a year is government intervention policy. In the next part of this report, further research will justified this change. Explain the key factors that have contributed to the changing value of the currency and comment on the relationship of these factors to exchange rate theories. In 2009, the China Yuan remained more likely constant by floating averagely around 6.85Yuan to 1$. This constant fixed float have been caused by inflation furthermore The Chinadaily.com (2009) pointed that the National Bureau Statistic measured the rate of inflation in China in November 2009 and concluded the inflation as the major problem in the economy. On the other hand, FT.com (2009) reported that the inflation rate rose by 20% from 1995 to 1995 and this fixed rate anchor has helped china to gain price level stability which lasted until May 2010. In mid 2010 June/July the Central Bank of China has announced that the increase of Yuan would led to more flexibility, in the same way from July 2010 the exchange rate of the Yuan drastically slumped as a result of government intervention for example; According to Reuters (2010) china has deliberately devalued its currency thus making them having more emphasize on purchasing power parity and world market competition in terms of exports. This debate has been recently discussed during a G20 meeting in South Korea (Reuters, 2010). In addition, the US have also planned to buy bonds through quantitative easing, all this part of a planned strategy by the Obama Government who were focused for a weaker dollar for hope of more export in the next five years but with the appreciation of the dollar, there are no hope of more exports in the future. (Reuters.com, 2010). To an extent, the decrease of 1.9% of the Yuan/Renminbi and the appreciation of the US$ might affect directly FDI and MNE`s, in the contrary a dollar depreciation will serve a longer term interest by generating inflation and lessen the debt of the US. Discuss the relative merits of currency appreciation/depreciation; including the economic and business implications in the country you are looking at. The value of a currency can vary with time and affect different factors in an economy, either domestically or internationally. Various factors such as inflation, employment rate, balance of payment and GDP (Hill 2006:?) Changes in exchange rates are described as depreciation and appreciations, for instance if the Yuan changes from 6.68 Yuan per dollar to 6.58 Yuan per dollar, it shows depreciation (Krugman 2006). Depreciation will also serve as long term interest by generating inflation and also help in reducing the national debt (Hill 2006). Furthermore a depreciation of a currency for instance China; can add more value to economic terms of a country for example more future prospect of Foreign Direct Investment (FDI) which other words promotes MNE`s to adjust their organisation on a local based operation. Secondly, the public and private transfer payments, thirdly, the house of property might be cheaper for foreign investors who wish to buy land or real estate investments. In brief, if China does not raise its currency, the imports of the country might increase thus leading more deficits in their national debt which is bad for economic growth. To solve the problem an increase in monetary policy with an increase of money supply. With the introduction of the Quantitative Easing (QE), the value of the currency depresses to those printing money and forces the value of other currency upfront (Salvatores, 2006). Consequently, the Economist (2010) stated that China`s government in mid-2010`s have been printing more money in order to buy bonds thus it shows that there has been a result of quantitative. Further research was mentioned by Krugman et al (2003) who suggested that an appreciation of a country`s currency makes its goods more expensive for foreigners. In theory, a rise of China currency would benefits the country as the consumers would have more purchasing power, secondly lower inflation rates. To back up this theory, a report from Reuters (2010) indicate that the Chinese governments are planning to raise their currency exchange rate but this could result to an economic downturn in its microeconomic environment such as unemployment and downturn to small businesses and if it happen to appreciate more in the future, it would eventually have a big impact for the exporters. Furthermore, The New York times (2010) argued that China is manipulating its currency by keeping it artificially under-valued as a mean of increasing its exports and boosting its economic growth (NewYork Times, 2010). On the other hand, a devaluation of the Yuan would benefit multinational corporations (Hill 2006). Multinational organisations have been outsourcing and relying on China for their product and services, a weaker Yuan would help them be more productive for example the case of Nike, apple and others American Companies which have joint ventures with Chinese company for manufacturing their product at cheap reliable price.(Ref) Conclusion The battle of currency wars in between the China and the United States are well discussed into the medium, until recently the appreciation of the dollar to the yuan in Mid- 2010 after more than a year of the exchange rate being relatively fixed. This international currency wars might start to be a common practice used by other countries to take advantage of economic downturns of certain countries weaken by recession or economic growth for example countries such as Greece and Iceland. To sum up, China managed to initiate its floating currency which was based on market demand. This mechanism has productively promoted an economic restructuration and sustainable development on leveraging its macro- economic environment (Nexis.com, 2010).

Martin Luther king Essay

It is normal for every person to have dreams about the future. Many people have their own personal dreams while others have dreams for the society. People also tend to have both positive and negative dreams, which they hold. A good leader is one who has positive dream about the people he leads. One of the famous people who have dreams that have to become true is Martin Luther king. This paper gives the analysis of Martin Luther king’s â€Å"I have a dream†. â€Å"I have a dream† speech by Martin Luther king is one of the most wonderful and best speeches that have been given in time immemorial. It was in August 1963 when he moved America by this speech. The speech was full of soaring rhetoric, which demanded justice to be done to all races, and demanding for an integrated society where the black community was recognized. His words proved to be the touchstone in understanding the political and social upheavals that existed in the American society during that time. This gave the country a vocabulary to use when expressing the happenings of that moment. He had one very crucial message that all people regardless of their skin colour were created equally and so they should be treated the same. However, he insisted that that was not the case in America at that moment but he was optimistic that this would happen in the future. He insisted that this would happen in the future in a very powerful and passionate way. His speech was well researched because in the preparation of this speech he studied the Bible, the address by Gettysburg and the declaration of the United States independence. He was able to incorporate all the research in his speech. Looking at his speech it can be described to be a political treatise, poetry, a well improvised and masterfully sermon full of Biblical imagery and language. He used frequent repetition and alliteration in making his points to be clear. Looking at the first half of the speech it shows not an idealized dream of American. It shows a seething Nightmare of racial injustice by the Americans (Murray, 15-20). This is where the speech call for action by insisting that t was the right time for the racial injustices to end. His shows the urgency that is need to undertake the actions. He held that this was the right time to make the real promises of democracy. This was the time for the American to come out of dark and desolate valley full of discrimination and start walking on the path of racial justice. He insisted that that was the right time to make all people have equal opportunities and start living in solid rock of brotherhood. He also encouraged people to make pledge that they would all walk together and never look backwards. He insisted that devotees of civil rights would never be satisfied until the moment when the black man in the American society would be free of horror brutality by the police. He also insisted that they would never rest until when the quality of life of the Negroes had improved and given right to participate in the running of the country and understood the importance of their participation in the public affairs (Dyson, 51-53). In the second half of the speech, the speech depicts the dream of a better, integrated and a future that would be fairer in racial harmony. This is the part of the speech, which has the theme of â€Å"I have a dream. † This phrase is repeated as a way of making his inspirational concepts be understood. He encourages the people that despite of the frustrations and difficulties at that moment he had a dream that all this would end. He held that a day is coming when the country would live according to the true meaning of its creed (Dyson, 51-53). This is when all people from different social classes, for example, children of slaves and those of the slave owners would be able to live as brothers and sit down together. The society that would be full of freedom and justice for all people. This would be a society where people would not be judged by the colour of their skin but would be judged by what they have in their character. He had a dream that the society would be transformed and the glory of the lord would be seem by everybody who would be living in that society (Murray, 15-20). The speech had a very strong message for the white community and hinted revolution. However, he used peaceful words and provided a vision for everybody. At the end of the speech, he had a passage aimed at unification of all people with a theme focusing around freedom. This is where he insisted that time was coming when all the people would sing one song of a sweet land of liberty. All people from all races, religious affiliations would be able to join hands and sing of a free state. There are three factors, which made his speech to have a lot of impact. The remarkable emotion he used in terms of body and voice. The place at which the speech was given in the steps of the memorial of a US president defeated the slavery in the southern states. Another factor is the mood of the day where there was increased slavery among the black people and the time when the whites started feeling guilty of their actions. Work cited Dyson Michael. Debating race with Michael Eric Dyson, New York, Basic Civitas Books, 2007, pg 51- 53. Murray Julie. Martin Luther King, Jr. Day, 1st edition, New York, ABDO Group, 2005, pg 15-20.

Joseph Rudyard Kipling Essay

The study room was surprisingly empty. The door was crying out for some one to come open it. The papers lying on the table were rustling out loud, almost as if giving a signal to use them. Beside were pens lying and whispering for someone to pick them up. The chair was looming for someone to come and use it for comfort. Slowly the door opens with a crack. There, enters a man: always with a look of confidence and pride showing away to everyone. A man loved by everyone for his work which was presented to the public. This person was none other then Kipling: a poet, novelist and not to forget an â€Å"imperialist†. The time period was around the 18th century when British established their rule over India. Another term for taking over was known as IMPERIALSIM: when a strong nation like British takes over a weaker region like India. Once they take over, they dominate the regions politically, economically and culturally (Imperialism 8). As every country wants to keep their own culture and have their own rule, India was against British rule. The only people who supported them were the Sikhs. When countries took over foreign lands, they expected the natives to practice their culture inferior to their own (Imperialism 9). This was called â€Å"the white man’s burden†. Later on there was a popular poem named the same written by Kipling. Joseph Rudyard Kipling was a blessed child born to be an English writer and a Nobel Prize winner to John Lockwood Kipling: an artist, a scholar and a capable writer, and to Alice Macdonald. Kipling was a man who wrote novels, poems, and short stories, mostly set in India and Burma (now known as Myanmar) during the time of British rule. He was born on December 30, 1865 in Mumbai, India. His first name Joseph which was never used as it was his father’s father name, except for his baptism in the cathedral. His second name Rudyard was named after the place, Rudyard River where his father and mother first met. As a child of a rich family, he never got the tender love and playing time with â€Å"mother† like most middle or low class children would. Instead he was bought up by an ayah. As being raised by native servants meant affection and intimacy, and that intimacy meant, above all, that he learned their language, Hindustani (Rudyard Kipling 19). He was sent to England for better education at the age of six to a foster home. There he received unkind treatment which he later expressed in the short story â€Å"Baa Baa Black Sheep† in the novel The Light That Failed. At the age of 13, Kipling entered Services College: an institution specialized in training for entry into military academies. Unfortunately his poor eyesight and other factors shredded his hopes for a military career. He returned to India at the age of sixteen. In 1882 he started working as a journalist in Lahore for the Civil and Military Gazette: a local newspaper where he wrote and edited short stories. Gazette was an excellent way of building up the knowledge of India that was going to make him as a writer (Rudyard Kipling 42). In 1887 he was promoted to the staff of the Allahabad paper, Pioneer: a sister paper with much higher standard then the Gazette as an assistant editor. India and Kipling had been made for each other. She gave him what no other English writer was ever to experience in comparable fullness and intensity; †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. As her mark was set on him for life: with the exception of some travel pieces, seven or eight stories and a few dozen poems all his best work reflects or remembers India (Rudyard Kipling 52). This statement shows us that he had a passion for India: all the colors and sounds and smells made an impression on him that was distinctive as well as deep (Rudyard Kipling 20). Almost every novel he wrote, short stories or poems were all connected to the life he spent in India. He loved his child hood days he spent in India â€Å"give me the first six years of a child’s life and you can have the rest† (Something of myself). His novels described the setting (India) very well especially, its beauty as a country, the culture and the distinct features it has as a diverse country. Kipling was an imperialist. He believed it was right and proper for Britain to â€Å"own† India and rule the people (www. english-literature. com). He accepted the Empire as it stood and he approved the annexation of Upper Burma (Rudyard Kipling 52). He was one of the few people who approved the right of British to rule India. He wrote books and poem supporting the fact that British has the right to rule. Famous poem was â€Å"the white man’s burden† and a popular novel named â€Å"KIM†. It is a novel that embodies his attitude towards British rule in India which these days are wholly unacceptable and unpalatable (www. english-literature. com). Even though he resided in India and was an Anglo-Indian he still supported British. Though he considerable colonial experience in India as well as sympathy for Asians, his writing clearly reflects the British and imperial attitude (Rudyard Kipling 67). Enough comments were made about the novel KIM such as â€Å"a master work of imperialism †¦.. Rich and absolutely fascinating. But nevertheless profoundly embarrassing novel (Edward, www. english-literature. com). Kipling is the man who is remembered for his celebration of British imperialism and heroism in India and Burma (Rudyard Kipling, 53). He is the man who is still remembered by everyone including kids by reading his wonderful work of writings written for us. Common examples are Jungle book, KIM, famous short stories such as Rikki-Tikki-Tavi, the Naulahka are to name a few. His love for India was incomparable to any Anglo-Indian, it shown in almost every novel which had a setting of India. Kipling should be as thankful to India as India should be thankful for him. Kipling introduced a new type of story and brought out the knowledge of India more to other people around the world by having it included in his stories. He made a difference in the world of writing by producing great novels such as Barrack-Room Ballads, etc. Kipling’s life and work are extraordinary unlike those of any other English writer (Rudyard Kipling 1). He was the first Englishman to receive the Nobel Prize for literature. Kipling is man who left marks in the world of today by using his ability to remind about him and his works constantly. BIBLIOGRAPHY Book Amis, Kingsley Rudyard Kipling and his world. Great Britain, 1975 Handout given my Mr. Quan for Imperialism. Websites  http://www.bbc.co.uk/dna/h2g2/A5316798

Analysis of merger and acquisition performance - Free Essay Example

Sample details Pages: 17 Words: 5154 Downloads: 9 Date added: 2017/06/26 Category Marketing Essay Type Research paper Did you like this example? Chapter 1 INTRODUCTION Background of the study Merger and acquisition is one of the most important phenomena to create a value for shareholders and for the companys growth. This is not only been observed by organizations, but in accordance of political, professionals, media and individual economy considerably making more attention towards M A. It is called as the most effective factor to consider as the integral part of long term business strategy for enhancing the corporate growth (Wijnhoven, Ton Spil, Robert, et al 2006). Don’t waste time! Our writers will create an original "Analysis of merger and acquisition performance" essay for you Create order Over the last decades the mergers and acquisitions in world have continuous effect by increasing the deals, tender offers and leveraged buyouts from different industry (Chatterjee, Lubatkin, et al., 1992). The main objectives behind merger and acquisition is to increase the profitability, increase in revenues, faster growth in the market and it is the quickest way of becoming popular in market. Over the years the researchers have performed various studies in accordance with M A. virtually not everyone makes the clear picture about the performance difference which occurs from the different types of mergers (see Ranaswamy, 1997). This means there are two types of merger that takes place i.e. Vertical and horizontal mergers. Theres been a small research have been done in the field long term strategic factors that affects the performance during M A. Corporate and managers trying to perform and to build the adequate to go on competitive and profitability. Ramswamy (1997) has attem pted to analyze the impact of post-merger performance and the process of strategic similarity in preference of banking industry. He described the success or failure that describes the strategic fit will support to view the benefit than with dissimilar strategies. On an average the efficiency and deposits strategies will enhance the merging partners to cause the improved performance (Altunbas and Marques 2004). Indeed most of the research has conducted by examine the performance in context with financial firms and banking sector. Theres been a limited research have been made on particular industry. Considering the limited study this thesis contributes the extending literature on post-merger performance and strategic similarity by taking steel industry as a variable. The whole study is to find the gain trust that enables the profit in a steel industry under M A. Aims Objectives The research is based on the post merger integration with reference to steel industry by understanding the influence of success through merger and acquisition. The aim of study is to find, firstly whether the post performance will lead to enhance the financial growth, secondly do post-merger operating performance and strategic similarity of acquired companies is affected or not, thirdly dose Company results in improvement in gaining more profit after merger takes place and finally analyzing the success operations in post-merger integration (see e.g., Epstein Marc 2004, Altunbas and Marques 2004, P. Mntravadi, A Vidyadhar 2008, Ruback S., R Healy, Palepu K. G 1992). The test is conducted by analyzing the financial data of pre-merger and post-merger ratios of steel industry and statistical data is calculated using professional software called Stata (P. Mntravadi, A Vidyadhar 2008). For limitation of study, recent merger that took place in 2006 with huge financial transaction were TATA- CORUS and ARCELOR-MITTAL is taken as the variables. Research Methodology Sample collection of data. The study is conducted in context to steel industry. Outline of the structure To function properly to the above mentioned aims and to understand the thesis the structure is organised into seven chapters are as follows: Chapter 1: Illustrates the introductory background of the entire research process and includes the application of aims, objectives, methodology and structure of the thesis. Chapter 2: describes the concise report on the merger and its methods. In addition to that we discuss the motivations behind M A, the factors that influence the course of action during mergers and finally the role of strategic analysis in M A. Chapter 3: introducing the global steel industry and explanation of its recent trend over mergers and acquisition. Besides we also study the competition analysis of steel industry. Chapter 4: examining the relevant literature reviews that are driven to prior concept. Chapter 5: this includes the course of methodology that provides the model that is used to analyse the post-merger performance. Chapter 6: provides th e tackled results and data analysis that is observed by assembling the steel industry financial ratios. Chapter 7: finally the conclusion of overall report that is overcome of the research thesis. Chapter 2 Illustrations of Merger and Acquisition Introduction This chapter explains brief about the mergers and acquisitions. Mergers and Acquisitions are the ways in which to build the corporate expansion and the companys growth. In the recent years theres been observed in the corporate world mergers being increasingly used to gain greater profit, to strengthening the market share and to reduce the business risk during the portfolio management. Thus its better to start with the introduction defining M A. Besides, it also explains the basic terms that are used during the merger process. Basically the terms are discussed due to various authors has described with different definitions depending on the situations. Therefore the above sentence directs us to understand the basic terms of merger. The merger occurs in different types vertical mergers, horizontal merger, conglomeration, geographical mergers, consolidation mergers and purchase mergers. Each merger derived with specific reasons depending on the fitting characteristics in cross boar der operation. Hence the types of mergers are discussed in this chapter. On the other hand we discuss about the motives and strategies that formulates the acquiring firms. This part of study is very important because it explains widespread reasons behind the merger process. The main purpose of merger is to create the synergy and the value for the company. Synergy is the mean of generating the value from economies by integrating through mergers and acquisitions. Next discussion will be based on the strategic framework for evaluating the course of action in M A. Finally the chapter will be ending by summarizing the entire chapter. Explanation of Basic Terms/Key Words. Before proceeding to the detailed study, its important to understand the basic terms which are commonly used in the research paper. The parlances of M A are as follows:- v Acquisition: the one firm purchasing complete assets from the acquired firm to become the owner of that particular firm. v Arb: its an arbitrage that attempts to purchase or sells the financial tool through various markets to gain the profit efficiency. v Cross-border MA: any company that is engaged in mergers and acquisitions whichever might be foreign or domestic firm. v Consolidation: the process of combining companies into one functional operation to form single entity. Its transaction is known as consolidation. v Hostile takeover: it is a corporate takeover which seeks the direct control over the Target Company with respect to management and the board of directors. Here the Hostile means if the companys board of directors rejects the proposed offer, but the acquirer continues to persist it or the acquirer tries to proceeds without informing board of directors. Its a quite opposite to the friendly takeover (Bhagat, Shleifer, Vishny, 1990). v Horizontal merger: the company in which combined to form a single entity with similar industry which produces the same type of products. (Render,Stair,1997) v Management buyouts: this is the process of transfer of proprietorship to a new authority and there will be limit or no rights to the original owner. Basically its a way of transfer the possession control from one owner to the other. (Wright, Robbie, et,. al 1994) v Merger: its a process of combining two or more companies to form one single entity. v Proactive strategy: the strategy which involves innovative decisions to review the companys achievement during the merger process. v Synergy: an action that takes place during merger which gives the maximum result with strong decisions. v Takeover: taking a control over the other firm with respect to hostile or friendly. v Vertical merger: its a type of merger in which the company acquires another company having relation with suppliers or any raw material source for producing its own products. Classifying the merger types In perspective of merger and acquisition there are different types of mergers that host a difference between each one it. Hence the types are broadly classified as Vertical, Conglomeration, Geographical, Market-extension merger, Product-extension merger, Purchase merger and Horizontal mergers. Each type will be discussed in detail to know the differences and their characteristics. Vertical merger A vertical merger is a type of merger in which a firm combines with its suppliers to have a control over the sales outlets for their products. Simply vertical merger is building the relation with suppliers or distributors. Though it is more complicated and creates more rivals, this type will lead to advantage for the acquiring company to take full control over the suppliers from its competition. Somehow it makes tough for the companies to contend against the newly merged firm with different culture and management process. Due to cost control particularly companies tends to make vertical merger. Some researchers have found that vertical merger will appreciate the financial value. R.Gil and Hartmann (2009) have attempted to prove that vertical integration has become more valuable for shareholders during vertical merger. On the whole vertical merger has special distinguishing quality compare to other merger types. Market-extension merger Product-extension Merger In the modern days of merger integration these two mergers has become the frequent types and more importantly it is the best means of extending the operations through extend products and services. Market-Extension Merger:- In this type the merger takes place between the companies having the similar products and services in different market places. The actual intention for having market extension is to target the sustainable market for the future growth and to maximise the wealth of shareholders. The approach of this research is basically suits the market extension merger that took place between the Tata-Corus and Arcelor-Mittal. This made Arcelor-Mittal to produce the highest capacity steel production in the world about 100 million tonnes. The major advantage of this type is to become the monopoly and to have the huge market value. Product-extension merger:- In this type of merger organizations makes a deal were the business takes place with similar products and which operates in the same market place. Mainly this type will allow any new or any large company to unite its products and services to capture same market with bigger consumers. Certainly this method of merger will earn higher profit. Conglomeration The conglomeration merger is the firms in which are combined with respect to non-related industries. This type of merger is involved with two different firms doing different business. Basically it is done to diversify the risk rather than making benefit to the company, it is just to obtain the primary objectives. It is difficult to perform or obtain the market efficiency in this type of merger, due to various diversifications towards product activity (Jeffrey 2008). However with the most efficient management and with fresh management it can probably perform better with the outcomes. Horizontal Merger This type of merger occurs when two firms are combined having similar manufacturing goods and services (Jorge Padilla 2005). Its endeavour is to maximise the shareholders wealth and market shares to counter the competition. The other advantage is to counter the economies of scale, performance, target the major markets, and finally it gives growth being monopoly. This type of merger is playing the vital role for the researchers to analyse the performances. Many researchers have made different comments on the motivation towards horizontal merger process. The process of enhancement in a market and to get rid of the competing firms is the main intention for many mergers. In recent studies the analysts says that horizontal mergers takes place due to the increase in market value in a business environment, management, and in the field of research development. Thus many firms having market power will attempt to have an efficient horizontal merger. Geographical Mergers Most of the mergers are limited within the operating firms in the same territory (home country). Always merger activities refers to the strengthening the cross-border relation with other nations. This type of mergers has the different motives when compared to other mergers. Most of mergers will takes place within the country, but over the decades there is been numerous cross-border mergers happened between many nations (international merger). Similarly, in this part of research discussion we analyze the merger that took place between the two international firms with geographical merger. Larger firms are very much interested to merge whether it might be international or domestic. This enables the expose with different market and certainly to make more profitable. Researchers have analyzed in corporate finance that geographical merger is an important instrument for efficient to provide sustainable growth (Berger, Ofek. 1995). It is the best means to provide risk diversification du ring cross border merger. Geographical mergers will provide to diversify the business in different markets which allows the acquirer to allocate basic requirements based on operation. Motives behind Merger Acquisition Mergers and acquisitions are the general motives for the growth of any organization. Although the motives for mergers cannot be driven in single approach, researchers have analyzed some theories that explain the major motives for merger and acquisition. Indeed no proper reason has been found yet for motives behind M A (Andrade, Mitchell et al. 2001). Haspeslagh and Jemison (1991) states that there are two prime motives behind mergers and acquisitions in interest of maximising the firms growth. Firstly to capture the value for the organization and secondly to create a value for the organization, apparently there are many motives that has been observed in context of growth of the organization. Trautwein (1990) has analysed using various theories of M A motives which includes taxation, wealth maximizing, and risk diversification. However the rationale behind merger and acquisition may vary from one merger to another merger, but normally major success is to increase the value for the company through merger (Epstein 2004). The analysis has influenced the companies to merger with special characteristics which creates profitability for the shareholders. On the other hand mergers have shows the strong influence on post-merger performance. In this dissertation Im going to attempt to discuss what will be the other alternative method for the growth due to merger process. Trautwein (1990) stated that managerial utility will play a vital role in the internal development for the long term investment strategy, although aiming at the increase in shareholders growth will lead the overall motives for merger. And also he analysed that implementation of strategies after merger or before merger will be challenging than the procurement of ongoing business. However in the further studies we will be discussing on both motives i.e., maximising the shareholders hypothesis and managers utility hypothesis that are incurred for strengthening the growth of an organization. Shareholder Wealth Maximising Norm In the neoclassical norms, every organization objectives is to maximize the shareholders wealth. The hypothesis of maximising the shareholders wealth will be called as neoclassical models. On the other hand for rest of the non neoclassical analysis it has been greater explanation from many failures due to the various drawbacks in perspective of ownership control, this results the lack of maximising the shareholders wealth or companies overall profit (Chatterjee, Lubatkin, et al 1992). According to the financial theory, any merger or similar type of investment type will lead to positive valuation of acquiring firms (Andrade, and Stafford 2004). This statement shows that the value for the post-merger performance and the determination of increase in creating the value in share markets. However this analysis shows the existence part of managers utility hypothesis. Some analysts explained that both internal and external factor of mechanisms will influence the managers to act in favour o f the firm. Some study says that there is a high probability of management failure in the interest of merger firm. On this issue the researchers shows that both internal and external factors will influence the managers to take action against the firm. Mainly the external factor indicates competition, companys growth in absence of profit and the appearance in the business world for the survival. This suggests that even if the markets are improper, the competition will guarantee only if they can survive with maximise the profit. On this study Slade, E. M. (2004) says that shareholders can elect the management team who can control the effective internal factors. However for the effective external factor the market competition will recommend for mergers and acquisitions. The increase in merger and acquisition activity understands the motives and consequences that arise for merger process. The traditional intention for merger activity includes theories and hypothesis which includes market power hypothesis, efficiency/synergies in economic scale, diversification hypothesis and so on (Sharma, Thistle 1996). In our further study we will be discussing about the main seven reasons under the shareholder profitability. The following are the six reasons that has been identified and analysed in our dissertation. i. Efficiency/Synergy theories ii. Market Power Hypothesis iii. Diversification Hypothesis iv. Taxation Effects All the reasons will be analysed and discussed below:- i. Efficiency theories According to the efficiency or synergy theories there will be possibility of being both efficiency and inefficiency theories during merger or takeover. Efficiency theory indicates that firm X is more efficient than compared to firm Y and both are in same sector, firm X can increase the efficiency of firm Y however in the presence of X through merger or takeover. Inefficiency theory testifies that firm Y is not capable in favour of public cognizance, so firm X can control the firm being inefficiency Y firm through merger or takeover. These two examples by taking X Y will signify that merger will be an instrument to solve the efficiency problems in the merger performance. Therefore Copeland and Weston (1988) bring out that the efficiency theories will give the theoretical rationale for horizontal mergers and for inefficiency theory supports the conglomerate mergers. Besides efficiency theory evokes that mergers takes place only if there is any profitable reason for both the acqui ring firm and acquirer firm. On the whole efficiency can enhance by proposing new culture by merger and acquisition. Here culture will be the main rationale for successful mergers. Culture is said to the behaviour form of people, management, internal factors of the organization and the strategy implementation (Stallworthy, Kharbanda 1988). David Scherer (1987) analysed that the efficiency theory expresses the mergers takes place for the improvement of the merged firms through the concept of synergy. Basically synergies results the reduction of cost exploitations by avoiding risk opportunities and other strategies which lead to the improvement for securing the capital growth. ii. Market Power Hypothesis Market power is defined as the ability of a market participant or a group of participants to control the price, the quality or the nature of the products sold, thereby generating extra-normal profits (Seth 1990). Some literature diligently says that market power is one of the main motives for merger and acquisition. Scherer and Ross (see e.g. 1990) say that the first and foremost motive for merger is market power particularly for horizontal merger. The analysis suggests that made by Maneesh and Thistle (1996) the horizontal merger enhance the market concentration by which increases the market power and earnings. Besides mergers and acquisitions are not likely to be in a favour of vertical, conglomerate or any other merger type, such merger types are difficult to find. Many literatures (e.g. Seth 1990; Scherer Ross1990) argue that the enhancing concentration may not lead to any gains which is organised by corporate mergers that created the market power. It can only convinced fro m market power is to sustain the markets where there are obstacles to enter and lower level of costs. The exercise of market power cannot be increased if there is threat from competitors when they enter into new market. Besides to exercise the market power it should be executed in a given market, and in few markets which are clearly defined with more competitive. However on the whole analysis made by researchers it concludes that horizontal merger are not the means to target the controlled competitors, but other merger type is also concern. This is due to the larger firm always over prices in a particular single market and may not be more important because of its financial strength and size of the firm Seth (1990) iii. Diversification Hypothesis The diversification as played a cation attention in merger process during recent years. Always firm thinks in different posture to diversify the earnings to create a greater extent of cash flow in the balanced total risk (Lamont 1997). The diversification hypothesis has become the sustainable strategy to reduce the total risk and to make stable income flows. It also assures that in the modern business world diversification is the main method to survive in the market. Many theoretical analyses suggest that diversification hypothesis is relevant to conglomerate mergers. Ross et al. (2002) argues that the value for conglomerate merger will lead to increase in the sum of the value of firms due to decrease in risk and maximisation in debt value. By diversifying the business operations will consent the strategy to minimize the risks. On the whole diversification hypothesis will also increases overall competitive business. So far we have studied the increase through diversification will lead to maximise the earnings. Besides many researchers have discussed that potential entrants utilised theories to model the directly or indirectly to act by means of merger and acquisitions. From this theoretical models shows that the firms diversification hypothesis will not affect any positive results Ross et al. (2002). iv. Taxation Effects In the recent trend of mergers and acquisition there is been not much evidence for enhancing activities in market for corporate control. Only certain explanation express that the positive action that mergers and acquisition play in the portion of resource through society (Ross et al., 2002). Recently many researchers noted that taxation on mergers is also motivated for the acquirers to accumulate the shareholders earnings via tax reduction. There are several different ways on tax incentives and benefits which motivates for M A, to avoid tax on capital gains and dividends, switching to new debt to decrease the interest payments and gaining the tax provisions and to hold capital gains over taxes (Beckenstein 1999). However there are other means of getting advantage from corporate integrity and this advantage should not be considered to the M A process. Mainly there is two different corporations which is considered for tax benefit activity firstly shareholder taxation and secondl y corporate taxation (Auerbach and Reishus 1988). a. Shareholder Taxation: shareholder can also opt for many varieties of payments during the selling of shares as a process of mergers and acquisitions. There are non-taxable receipts for capital gains for shareholders which will not be considered for taxable gains. On the whole non-taxable transactions will exists for tax benefits through opting as a shareholder in the acquired firms to fulfil different portfolio without considering their share capital gain tax and paying capital gains (Auerbach and Reishus 1988). b. Corporate Taxation: at corporate level the tax consideration in merger and acquisition process it rely on the acquiring firm which prefers to consider the acquired company in existence of parent company by its unbroken tax credit or being bankrupt and then the company accepts in the form of component value. There are other tax benefits for merger that is available firstly in stepped-up asset process and secondly the increase in activity of tax losses and tax credits (Auerbach and Reishus 1988). Management Related Hypothesis As we mentioned in the above in fig 1.1 that merger motives explain two related hypothesis Shareholder hypothesis and Management related hypothesis. We have already attempted to study the shareholder related hypothesis and now we will be discussing the term management related hypothesis. a. Managerial-Utility- Maximisation In the modern corporate world is expressed through large corporations having commonly scattered of ownership which is separated from management. In the state of being separation of ownership from restraint, the difference between managers and shareholders can be observed as primary agents. In this agency perspective managers act as an agents and may not all time act in best interest principals. Some time managers react by ignoring principals in order to obtain their own self interest. Such self interest may result to bad merger and acquisition in perspective of the firms growth and loss of shareholder profit. Here a manger seeks to get more rewards and incentives to act in best interest for maximising the firms value. Such value crating actions can be obtained to satisfy managerial objectives are by increasing the firms size (Sudarsanam 1995). Managers undertake merger and acquisition activity for the following explanations: Oslash; Striving for enhancing the size of the firm , since the mangers holds reward like power, incentives, prestige and to get the job security with greater degree. These are easier to pursue in larger firms. Oslash; To spread out the managerial skills and talents. Oslash; To invest in various financial instruments which maximises the shareholders wealth and to avoid market risks. Oslash; To keep away from being job takeover. However, it shows that for enhancing the profit of a firm all stakeholders and managers would prefer maximising profit through merger and acquisition to not yielding profits (Ross et al. 2002). This means that there is importance in post merger performance. So that our study will be focused on how the strategic similarity of M A firms might be a source of achievement. b. Free Cash-flow Hypothesis Free Cash-Flow (FCF) Hypothesis occurs when there is excess of cash and need to fund in any investment instrument that have positive values when compared to the relevant cost of capital (Jensen, 1986). FCF is provoked from the general overall gains and rents from the economic. Jensen (1986) analysed that the management will allot the free cash flow to the shareholders primarily. Besides management also thinks if free cash is distributed then it will not increase their own wealth because dividends are not their personal goal but it is just the scheme of perquisites. However this influences the management or managers to decide using this opportunity for mergers or acquisition which enhances the growth of the company. Considerably managers prompt to grow inward of FCF, besides with inefficiency strategies may lead to the negative effect over FCF diversification through merger (Gibbs 1993). Jensen (1986) free cash flow hypothesis argues in absence of managers interest they seek to e nlarge the companys profit and to use proper resource for better diversification. In his words he describes managers are those who accumulate excess free cash flow by increasing the dividends and to initiate with repurchase of share plans. Nevertheless, many studies and theory suggests that manager behaviour is difficult to observe from the management point of view in free cash flow perspective. c. Hubris Hypothesis Roll (1986) suggests that hubris is the excessive pride for managers to participate in the merger and acquisition activity. Managers are considered when the management of the firm directs to have a valuation analysis of acquiring firm. During this course of action managers behave extremely over confidence with their prediction and excessively hopeful about the takeover valuation. Later onwards they will start a bid possibly if valuation increases the market price objective. Scharfstein and Stein (1990) have built a model of investment decisions which is of herding activity. They argue that the managers will imitate by motivating early movers and sometime refuse their own info. [1] The above statement says that a clustering of mergers and acquisitions over a time. Roll (1986) explains that managers with over confidence lead towards diversifying mergers and acquisition. In Rolls model he explains that these business deals are implausibly to value for the acquiring firm. Therefore we prompt that the volume of merger and acquisition would be negatively connected to the given account of M A beneath the hubris hypothesis. The role of strategic performance during M A Academic researchers has analysed that invariable competence says that on an average merger and acquisitions makes no adequate return for acquiring company. Indeed the managers and the firms are conveying through their value creation promises in merger and acquisition performance. Nevertheless there is been continuous course of action let by managers through M A in everyday business transactions to procure firms growth and to show the ability of their leadership quality. In this regard to enrich merger performance there should be quality analysis, better planning and integrated strategic analysis to make slightly changes in takeovers. Besides there are not much failure in takeovers for the lack of analysis, but with lots of fragmented analysis causes business failure. In most of the cases mergers and acquisitions will end up what so ever whether it makes profitable or not depending on management (Andrade Mitchell, 2001). Even in the same sectors that took place merger and acqu isition will vary with the success rates. On this basis getting the better outcome through takeovers has become an issue to consider as the profitable M A. Acquirer should understand the possibilities of outcome that makes best fit among the potential targets. Gennaro et al. (2006) suggests six strategies which enhance the financial performance managing the financial risk, increase in non-income interest, increasing the quality of assets, marketing financial performance, controlling the cost efficiency and effective use of capital. He suggests that these financial services can be perfect instrument for strategic performing of the mergers and takeover. In this research thesis we will be discussing about the winning strategies and other factors that influence the post merger financial performance. Chapter Summary In this chapter firstly we have explained the basic terms which are commonly used in the overall analysis of merger and acquisition performance. Also it explains the different types of mergers describing from vertical mergers refers in which a firm combines with its suppliers to have a control over the sales outlets for their products, conglomerate mergers is the firms in which are combined with respect to non-related industries, horizontal mergers whereby two firms are combined having similar manufacturing goods and services. On the other hand we have explained the motives behind merger. It shows that firms can achieve market power through enhancing the size of the firm having various motives behind. On the whole the merger and acquisition are initiated by maximizing the wealth of shareholders and manager utility maximization. Besides post merger performance will enhance the eminence as a worthwhile for stakeholders. This course of action helps to distinguish the firms in accor dance to the strategic preference to test the merger related having related and nonrelated firms. Cabral (2002) says that this can be expressible for a manager to mimic other company MA decisions, in despite its private information in contrast of the takeover. In this case situation, a grouping of MA activity will not need to imply managerial hubris.