Saturday, May 30, 2020
A few Facts About Prxis Source Based Essay SampleA Prxis Source based paper test is perhaps the best asset for first time and middle understudies with regards to the usage of article composing. This sort of paper composing gives understudies and hopeful authors a lot of functional information in this viewpoint and the proficiency of the essayist additionally stays flawless. Also, for every one of these reasons, it isn't amazing that this article composing style is extremely well known among numerous understudies and others.The fundamental motivation behind why this exposition test is exceptionally valuable for many individuals is a result of the distinctive strategy for application. To put it quickly, there are two primary methods of using this kind of exposition. One is by methods for the training expositions which are accessible on the web. Also, the other is through the utilization of the source-based article test that is a kind of a survey exposition, which is essentially made ou t of inquiry and answers.You may be asking why the techniques for application are diverse in various sources. The appropriate response lies in the way that various understudies need various arrangements and along these lines, there must be a particular arrangement that can meet the one of a kind prerequisites of the understudy. There are a few strategies that require various kinds of highlights, for example, writings, pictures and conditions and this is the motivation behind why the application varies from source to source.The Prxis Source Based Essay Sample is accessible in a wide range of sources. One can either search for it on the web or disconnected. Be that as it may, to guarantee the greatest availability of the asset, you can either download it through the web or get it from any of the book shops the world over. The most usually utilized organization for this asset is that of the glimmer player.As referenced before, the source is a blaze player and the upside of utilizing it is that you can undoubtedly discover answers to your inquiries, give a survey and furthermore incorporate your own writings. Along these lines, you don't need to trust that hours will discover a word to compose, download an article composing programming and even hang tight for a few days before the accommodation of the paper. In only couple of moments, you can complete your work and would then be able to disperse it or use it to additionally improve your article composing skills.It is in every case better to think of your considerations first before you record anything, and this is the reason the use of the paper model is basic to your composition. This is on the grounds that you will probably deliver a really unique paper that addresses your issues as an author. What's more, since the procedure is straightforward, you can feel free to look at the applications to perceive how the asset works.Moreover, another generally excellent thing about the Prxis Source Based Essay Sample is th at it will help you in discovering the ideal arrangement of activities to compose the necessary number of papers. What's more, the beneficial thing about this application is that it offers you arrangements that can be applied by your necessities. The activity results and answer designs in this application to give you arrangements that can fill in as rules on the usage of your ideal techniques and way to deal with the same.Thus, we have given you a concise depiction of what this asset accomplishes for you with regards to the execution of exposition composing. This asset is extraordinary compared to other article composing assets accessible on the web today and you can discover numerous different wellsprings of this asset.
Tuesday, May 26, 2020
<h1> Facts, Fiction and Thematic Essay Samples </h1> <p>In case, you feel that it's difficult to make your topical article in time or you don't know you're composing it appropriately utilize our assistance. On the off chance that you wish to find the focal subject of your paper, you ought to get more data related with your theme and limited it down to discover explicit data. At the point when you have adequate information to help a proposal, you need to arrange it accurately. It's fundamental to take note of that you need ton't gracefully any new information in the end, yet just realities that you've just remembered for the article body. </p> <p>The general topic of the discussion is a subject. Having a guide and tests is the least demanding and most sensible intends to form a magnificent paper on any point. Verify that all inquiries were replied. There are specific inquiries which ought to be offered an explanation to end up getting an amazing subject, and most of them concern its general centrality. </p> <p>In general, presentation gives your vital thought. Your blueprint is what is going to control the flood of your thoughts. End the introduction by methods for your theory articulation the fact of the matter you're probably going to make all through the paper, and the rest of the segment of the exposition will be supporting. The absolute first significant thing about composing a topical paper or any kind of exposition, really, is the most appropriate comprehension of the particular thought you're attempting to convey. </p> <p>On the 1 hand, it's simple since you're ready to compose this so rt of paper about any scholarly piece you appreciate. Congrats it seems like you've gotten your absolute first topical paper task! A topic is progressively explicit and is established on the theme. The following phase of composing a topical paper is to become familiar with the reasonable strategy for the best approach to create a topical exposition. </p> <p>you must allow the peruser to retain the significant issues of your creation. Since you may see, the structure is fundamentally the same as other paper types. You, evidently, wish to get a generally excellent evaluation for your topical exposition, and an example can help you with that. </p> <p>Thematic articles are generally to some degree long, so it's not bizarre to get numerous particular sections to discuss loads of unmistakable focuses. A standard article is made of 5 sections. As a rule, a topical article is only a diagram of the chief focuses. At the point when you start composing a topical exposition, it's conceivable to promptly become mixed up in different parts, sources, and contentions. </p> <h2> The Lost Secret of Thematic Essay Samples</h2> <p>Students must rundown the assignments that should be managed. As an approach to create great topical paper understudies of school must be a lot of cognizant with respect to the article diagram. Understudies from different schools and colleges need to make numerous assortments out of paper assignments. </p> <p>Students have occupied existences and much of the time disregard a coming cutoff time. It's fundamental that understudies see exactly what they are foreseen to expound on in the exposition. After the expressed topic, understudies get an errand that they should finish in exposition design concerning the topic. A few understudies make two or even 3 drafts before they might be content with their work, thus they get great imprints. </p> <h2> The Do's and Don'ts of Thematic Essay Samples</h2> <p>To grasp what the core of the article presents, consider the fact that is raised frequently in the book. Quest for a topical paper model that you can run over on the web. For instance, look into article is very well known and it's difficult to make it. Before it is conceivable to begin composing your topical exposition, it's exhorted that you first make a blueprint. </p> <p>At our article support, expositions are constantly conveyed in a concise second. Topical expositions are among such mainstream paper types. They are hard to compose for most understudies. A topical exposition is one which is fixated on one explicit topic. </p> <p>The next issue to examine is the best approach to form a topical exposition. Think about the center component of the book which you're dissecting. Having great exposition models gives the peruser an inside and out and on-the-court thought regarding what a very much organized and cognizant paper seems like. </p>
Monday, May 25, 2020
Composing Research Papers for Researches in the DirectoryStudents are attempting to compose inquire about papers which will have both a scholarly substance and have a scholastic quality. A ton of understudies need to have their papers distributed in an article index yet are not happy with the outcomes that they get. The basic issue that they have is that they don't have a clue how to appropriately join the exposition layout into their exploration paper.It is significant for understudies to examine and set up their examination papers for submitting them to the best catalogs with the goal that their examination papers will be acknowledged. There are many article registries accessible on the web that permit their individuals to have their articles submitted to them. This index is viewed as truly important in light of the fact that it will give them a thought regarding how to deal with the various perspectives recorded as a hard copy an examination paper.Most of the editors and authors w ill reveal to you that to make your exploration papers to stand apart from others, you ought to follow the accompanying advances. There are a few writers who make it exceptionally hard for their peruser by presenting superfluous words which won't help in making their article longer. There are additionally numerous journalists who believe that their articles need to have scholastic norms when in truth there are only a few angles which ought to be forgotten about from the article.Article registry is a fantastic spot to learn and sharpen your examination composing abilities. So as to discover progressively about the article catalog, you can take a gander at the sites of top distributers. These are the trustworthy ones that are recorded in a few distributions over the world.For the author to prevail with regards to composing articles in the article registry, it is significant that he knows his subject quite well. On the off chance that you are not sure enough in yourself recorded as a h ard copy about specific subjects, at that point you might need to visit the audit area of the article index. You can likewise search for composing help from master journalists who are situated in various pieces of the country.The writer needs to list down the most fundamental focuses that he needs to underline in his article with the goal that perusers would effortlessly remember them. Perusing the articles from the article catalog will likewise cause you to understand the significance of offering need to the composed creation. At the point when you can make an exploration paper that will have the option to focus on your composition, at that point it is for sure a decent result.The initial move towards composing an article in the article index is to make a blueprint. You ought to comprehend that article catalogs won't take into account the consideration of numerous superfluous subtleties with regards to your exploration paper. Be that as it may, in the event that you can't bear to a lter the blueprint after creation, at that point you might need to utilize a professional writer to do it for you.For those understudies who are not happy with the advancement they have made in the creative cycle, it is suggested that they search for help from proficient essayists who are situated in the article registry. They are very proficient about the topic and will have the option to control you in your exploration composing process. With their assistance, you will have the option to deliver an elegantly composed, scholastically stable research paper.
Sunday, May 24, 2020
Essay Topics For the Fault in Our StarsYou might want to think twice about essay topics for the Fault in Our Stars. Instead of tackling something as serious as the author's illness, you may want to instead think about something that is more lighthearted or humorous. There are plenty of things you can do with this story to make it interesting. Let's look at some options for essay topics for the book.One way you can tackle this subject is to use a bit of humor. This is something you can do easily with one paragraph and one chapter. Take a sentence from the book and ask yourself if it would have been funny if said by someone else. That way you will be able to say something witty and relate to what was said.Another method is to take a moment to highlight the wonderful parts of the story. This could be focusing on one line from the book that relates to your own life. In that way you will be able to write a personal essay.You can also use this as a way to connect with a particular person i n your life. Perhaps you have a friend who has recently become a very successful writer. It can be a good way to connect with them because you'll be writing about someone who is very successful. Remember though that you don't want to use this as a tactic to be mean to your friend.One idea for an essay is to look at the book's subject as an experience. The author wrote this book to help other people feel better about their lives. Try to think about some of the things that have made you feel better about your life. Use this as a topic for your essay, no matter what subject you choose.As you're thinking about topics for your essay, think about what things you would like to relate to in this case. You want to focus on things that will be interesting for you to read about. Make sure you try to come up with topics that you would be comfortable discussing in person.Other essay topics for the Fault in Our Stars book include ones that focus on the main character. Most writers can relate to t his character and this story. Instead of choosing something as serious as the illness of the author, think about how his character comes through with humor and love. You can even go with something more unexpected and humorous like that. A funny story about someone you know is also a great topic for your essay.Remember that essay topics for the Fault in Our Stars may also be based on what you'd like to say about the book itself. You might want to look at different subjects such as the book's positive aspects or the impact it has had on others. This is just one example of some ways you can choose to handle a topic for your essay.
Friday, May 22, 2020
<h1> A History of Public Management Essay Samples Refuted </h1> <p>The dominant part of the universities use the continuous application exposition prompts. Numerous understudies are confused with respect to the article. They may not be comfortable with the complexities included when they choose to purchase an exposition. </p> <p>The first thing which you need to accomplish for composing a great administration research paper is to choose a proper point. A broadly utilized method is summing up the full paper utilizing several sentences. At the point when you're composing a procedure examination article, you should organize the means in the fitting grouping. Presently it's conceivable to acquire premium quality exposition for a fund paper in an auspicious manner. </p> <p>Finally it may be important to demand help from an exposition composing master at whatever point you're at go across streets on where to buy an article that will carry out the responsibility for you. Exposition composing is every now and again an overwhelming assignment to a great deal of people. It is fundamental to buy a paper that that doesn't have any hints of counterfeiting. At the point when you buy an article, verify that it is an exposition that will really assist you with accepting your favored evaluation in that particular course. </p> <h2> What You Should Do About Public Management Essay Samples Starting in the Next Seven Minutes</h2> <p>It is unquestionably not easy to make an administration research paper. A superb diagram will have the option to assist you with arranging your thoughts in legitimate buy. Line dividing of the paper The most real and shrewd strategy to make your content appear to be greater in content, apply the decision of line separating to the whole content. At the point when you buy our educational discourse papers you are guaranteed of accepting papers that convey satisfactory and fitting substance. </p> <p>Educate Yourself College isn't the main region at which you can get training. Your understudy will require an electric lamp and an incredible battery fueled radio with an inversion of batteries as well. </p> <h2>The Argument About Public Management Essay Samples </h2> <p>Utilizing unexpected words probably won't be a technique that is utilized all the time. in any case, it tends to be somewhat a powerful way. Verify that it is sans mistake one of the most regular clarifications for why an application is dismissed is as it is ineffectively composed. The character of the powerlessness and the strength of current controls in alleviating or deflecting the weakness are similarly a significant factor to consider. On the off chance that building a training test sho ws up excessively overwhelming to you, start with recognizing what number of sorts of inquiries there are. </p> <p>While hazard the board can help a business accomplish critical increases, the technique is additionally confronted with specific dangers. Indicating the impact of dangers is a critical advance in hazard organization. Associations are presented to a plenty of particular dangers. Different variables are frequently viewed as while deciding the likelihood of potential weakness. </p> <p>Accordingly, you can distinguish things that are strikingly unique. There are a couple of significant things you need to know. On the other side, old subjects that have been perused and composed on by millions, won't ever grab any eye. The most regular of everything is utilizing significant text dimension. </p> <p>So, whenever you are mentioned to create an intelligent paper, you know that you should voice your assessments, anyway strange they may appear to other people. As an issue of actuality, the absolute best thing isn't to anticipate anything from anyone. The author ought to circumspectly consider the classes to ensure that no criticizing classification is unfathomable. No alternative of subject is provided.</p> <p>Coursework is unquestionably one of the most significant parts of understudies life. Composing instructive discourse papers is regularly a moving endeavor to a few understudies. </p> <p>Students may handily become prevalent journalists and basic scholars by demonstrating the correct composing capacities. It's easy to go over understudies not seeing how to compose school application expositions. Every once in a while, understudies are given the composing errand to do in the gatherings to upgrade their cooperation ability that is required to deal with the serious area. Worker understudies have the ability to change the repetitiveness of school. </p>
Thursday, May 21, 2020
<h1>Essay For College - Why Are Students Doing It Wrong?</h1><p>An exposition for school is significant. A huge level of the candidates to the universities are focusing on those lofty schools. Papers assist them with understanding their wants and intentions and convince them to apply for the said colleges.</p><p></p><p>An noteworthy exposition must be composed with the assistance of those profoundly explored and thoroughly considered thoughts. What individuals generally foul up is that they pick a few sentences and colloquialisms that are simply basic and make no sense.</p><p></p><p>They wind up making passages that are not intelligent in structure. First of all, it is ideal on the off chance that you have the chance to peruse a few articles before hand and watch the right structure of the paper. By watching this, you can without much of a stretch get the style of composing that is suitable for the college.</p>&l t;p></p><p>Students generally compose an article when they are welcomed by the school affirmations officials for the meeting procedure. This is the best open door for you to rehearse on what to compose and how to compose. A decent method to rehearse your sythesis abilities is by taking an example paper and change it.</p><p></p><p>It is hard for first year and upper classmen understudies to compose an exposition for school. Be that as it may, since these are where you invest heavily in your work, you can utilize the privilege tips.</p><p></p><p>One of the most well-known errors that understudies make is they will in general sort their papers. You should ensure that you generally utilize a PC and don't miss even a solitary passage. Since you will type them physically, quite possibly you may miss a word or miss an accentuation mark.</p><p></p><p>As much as could reasonably be expected, abstain from u tilizing awful spelling and language structure. By utilizing the assistance of a word reference and online research, you can without much of a stretch make anintelligent article that seems as though it is made by an expert.</p><p></p><p>Another thing that is suggested is that you generally have new plans to add to your exposition. Don't just depend on what you realized in school. Approach others for proposals on what things they would incorporate and what ought to be excluded from your composed work.</p>
Monday, May 18, 2020
Sample details Pages: 13 Words: 3787 Downloads: 7 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Corporate strategy developers have in the past and today seen Mergers and Acquisitions as an effective tool to foster future growth and create sustainable value. As a norm, companies now aggressively seek and buy compatible businesses to gain from synergetic benefits and strengthen their core business operations, whether that is the Industry of Banking, Pharmaceutical, Information Technology, Construction or Retailing etc. Ã ¢Ã¢â ¬Ã âExpenditure on acquisitions in the UK by foreign companies increased from ÃâÃ £9.2 billion in quarter four 2007 to ÃâÃ £19.9 billion in quarter one 2008. DonÃ¢â¬â¢t waste time! Our writers will create an original "Acquisition Of Natwest By Royal Bank Of Scotland" essay for you Create order Expenditure on acquisitions abroad by UK companies decreased from ÃâÃ £25.8 billion in quarter four 2007 to ÃâÃ £15.5 billion in quarter one 2008. Expenditure on acquisitions in the UK by UK companies increased from ÃâÃ £3.2 billion in quarter four 2007 to ÃâÃ £3.6 billion in quarter one 2008. The number of transactions reported for acquisitions in the UK by UK companies at quarter one 2008 is the lowest reported since quarter one 2003Ã ¢Ã¢â ¬?. Source: (https://www.statistics.gov.uk/pdfdir/ma0608.pdf- on 06-06-2008). Ã ¢Ã¢â ¬Ã âIn March 2000, Royal Bank of Scotland (RBS) acquired NatWest Bank, a bank three times its size. Shareholders were told that the merger would realise ÃâÃ £1.1 billion in cost savings and income gains. The acquisition of NatWest by the Royal Bank of Scotland has created a larger group which combines scale and financial strength with an innovation and growth culture, and gives us strategic options to create additional value for shareholdersÃ ¢Ã¢â ¬?. Source:(https://www.rbs.com/media03.asp?id=MEDIA_CENTRE/PRESS_RELEASES/2001/MARCH/RESULTS2000- on 02-06-2008). The perceived motivation drives for this merger and acquisition activity are generally considered to be the acquiring banks desire to increase its return by expanding geographically. This perception is similar to StewartÃ ¢Ã¢â ¬Ã¢â ¢s premises of merger motivation. According to the Stewart; the actual motivating forces behind merger should be ones that will: Increase financial performance (net operating profits). Financial benefits through borrowing against the SellerÃ ¢Ã¢â ¬Ã¢â ¢s unused debt capacity or against an increase in the consolidated debt capacity (lending capacity for banks). Tax benefits derived from expensing the stepped-up basis of assets acquired or from the use of otherwise forfeited tax deductions or creditsÃ ¢Ã¢â ¬?. (Stewart, 1991, p 375). 2. BRIEF REVIEW OF LITERATURE This chapter aims to discuss various literatures on mergers and acquisitions in order to provide a background for subsequent analysis. The literature identifies several economic and financial theories that justify Merger and Acquisition activity. In this review, we provide an overview of the literature that we use to guide our empirical work. 2.1 DEFINITIONS The interdisciplinary nature of the MA discourse is reflected in the versatile definitions provided in the literature. Some definitions emphasize the organizational context of MA: Ã ¢Ã¢â ¬Ã âThe term Ã ¢Ã¢â ¬ÃÅ"mergerÃ ¢Ã¢â ¬Ã¢â ¢ has two meanings in the context of combining organizations. Merger can refer to any form of combination of organizations, initiated by different kind of contracts. The more specific meaning that separates merger from acquisition is that merger is a combination of organizations which are similar in size and which create an organization where neither party can be seen as acquirerÃ ¢Ã¢â ¬?. (Vaara, 2000, p 82). Ã ¢Ã¢â ¬Ã âThe word merger refers to negotiations between friendly parties who arrive at a mutually agreeable decision to combine their companies. In general, mergers reflect various forms of combining companies through some mutuality in negotiationsÃ ¢Ã¢â ¬?. (Fred and Weaver, 2001, p 6). Ã ¢Ã¢â ¬Ã âThe word merger is used to mean the combining of two business entities under the common ownershipÃ ¢Ã¢â ¬?. (Arnold, 2005, p 1041). Ã ¢Ã¢â ¬Ã âIn Acquisitions a company buying shares in another company to achieve a managerial influence. An acquisition may be of a minority or of a majority of the shares in the acquired company. An acquisition is recorded on the date of the economic decision (formally agreed) even if the legal issues have not been fully finalised. If subsequent disputes, legal issues or a lack of supervisory approval were to interfere with a completion of the acquisition, it is held not to have been recordedÃ ¢Ã¢â ¬?. (Eurpean Central Bank, 2000, p 4). 2.2 TYPES OF MERGERS ACQUISITION From the point of view of an economist, there are four main groups of Merger and Acquisition. HorizontalÃâÃ ÃâÃ : Ã ¢Ã¢â ¬Ã âIn this one firm combines with another in the same line of business. In simple words, a horizontal merger occurs when two competitors combineÃ ¢Ã¢â ¬?. (Gaughan, 2007, p 13). Horizontal merger reduces the number of the competitors in the market. Vertical: Ã ¢Ã¢â ¬Ã âA vertical merger is the combination of successive activities in a vertical chain under common coordination and control of a single firmÃ ¢Ã¢â ¬?. (Sudarsanam, 2003, p 140). In simple words, it is a merger between a supplier and the distributor company of the supplies. This is a cost saving merger as well. For example HSBC purchased JP MorganÃ ¢Ã¢â ¬Ã¢â ¢s dollar clearing business in 1996. Congeneric: This involves related enterprises but not producers of the same product (as in horizontal merger) or firms in producer supplier relationship (as in vertical merger). Ã ¢Ã¢â ¬Ã âAn example is when Lloyds Bank acquired Cheltenham and Gloucester in 1995 mostly to acquire its mortgage business, which is related to but different from retail bankingÃ ¢Ã¢â ¬?. Source: (https://www.lloydstsb.com/about_ltsb/lloyds_bank.asp Ã ¢Ã¢â ¬Ã¢â¬Å" 04-05-2008) Conglomerate: Ã ¢Ã¢â ¬Ã âA conglomerate merger is the combining of two firms which operate in unrelated business areas. Some conglomerate mergers are motivated by risk reductions through diversification; some by the opportunity for cost reduction and improved efficiency, others have more complex driving motivationsÃ ¢Ã¢â ¬?. (Arnold, 2002, p 870). For example in 1996, Royal Bank of Scotland was expected to take control of Charles Church. 2.3 LITERATURE REVIEW- THEORIES OF MA There are might a number of motives that might play a role in merger activity, like efficiency, growth , synergy, financial and tax benefits, shareholders exploration, but two of the most often cited motives for mergers and acquisitions are faster growth and synergy. All these strategic motives shall be discussed in this part of the proposal for the better understanding of merger and acquisition. 2.3.1 Efficiency Theory Ã ¢Ã¢â ¬Ã âThe efficiency theory says that mergers occur because they improve the combined firms, operations, for example, by letting superior managers assume control, by exploiting cost reducing Ã ¢Ã¢â ¬Ã âsynergiesÃ ¢Ã¢â ¬? or complementarities in the partnerÃ ¢Ã¢â ¬Ã¢â ¢s operations, or by taking fuller advantage of scale of economies and risk spreading opportunities, among other things in securing capitalÃ ¢Ã¢â ¬?. (Ravenscraft and Scherer, 1987, p 211). In simple words, efficiency is an improvement in the utilization of existing assets that enables the combined firm to achieve lower costs in producing a given quantity and quality of goods and services. 2.3.2 Managerial Motives or Managerial Perspectives Takeovers can also arise because of the agency problem that exists between shareholders and managers, whereby managers are more concerned with satisfying their own objectives than with increasing the wealth of shareholders. Ã ¢Ã¢â ¬Ã âThe motive behind some acquisitions may be to increase managersÃ ¢Ã¢â ¬Ã¢â ¢ pay and power. Managers may also believe that the larger their organization, the less likely it is to be taken over by another company and hence the more secure their jobs will become. Take overs made on the grounds have no shareholder wealth justification since managers are likely to increase their own wealth at the expense of the shareholdersÃ ¢Ã¢â ¬?. (Watson and Head, 2006, p 317). 2.3.3 Shareholders Expropriation The important motive behind the consolidation has been maximization of shareholderÃ ¢Ã¢â ¬Ã¢â ¢s wealth. In the neo-classical prospective, this mean that the incremented cash flows from the decisions, where discounted at the appropriate discount rate should yield positive or zero net present value. Under uncertainty, the discount rate is the risk-adjusted rate with a market determined risk premium for risk. Ã ¢Ã¢â ¬Ã âDraper and Paudyal (1999) found that shareholders in the target businesses benefits substantially from takeover activity, particularly where they are given the option to receive either cash or shares in the bidder as the consolidation. It seems that the bidderÃ ¢Ã¢â ¬Ã¢â ¢s shareholders do not suffer from merger. They also found that the benefits to target shareholders have declined in the recent past. Bruner (2004) argued that the approach taken by many of the studies based on US takeovers were flawed in that the research results were unduly influenced b y a relatively small number of failures that involved particularly large businesses. He claimed that all takeovers benefit target shareholders and the overwhelming majority benefit bidder shareholders as well.Ã ¢Ã¢â ¬? (McLaney, 2005, p 395). Ã ¢Ã¢â ¬Ã âShleifer and Summers suggest a number of other motives for mergers and acquisitions in which shareholders may gain at the expense of other stakeholders. For example, some target firms may seek acquirers to escape financial problems or to break unfavourable labour contracts. Other firms may seek leveraged purchases of their targets to increase the surviving firmÃ ¢Ã¢â ¬Ã¢â ¢s risk- return profile at the expense of existing debt holdersÃ ¢Ã¢â ¬?. (Shlfeifer and Summer, 1988, p 33). 2.3.4 Financial and Tax Benefits Whether tax motives are an important determinant of MAs. Certain studies have concluded that acquisition may be an effective means to secure tax benefits. Gilson, Scholes and Wolfson have set forth the theoretical framework demonstrating the relationship between such gains and MAs. They assert that for a certain small fraction of merger, tax motives could have played a significant role. Moreover, whether the transaction can be structured as a tax-free exchange may be a prime determining factor in whether to go forward with a deal. Sellers sometimes require tax free status as a prerequisite of approving a deal. Ã ¢Ã¢â ¬Ã âIn the U.K the rules are more strict for taxes; the losses incurred by the acquired firm before it becomes part of the group cannot be offset against the profit of another member of the group. The losses can only be set against the future profits of the acquired company. Also that company has to continue operating in the same line of businessÃ ¢Ã¢â ¬?. (Arnold 2005, p 1052). 2.3.5 Growth / Market Power Theory One of the most fundamental motives for MAs is growth. Ã ¢Ã¢â ¬Ã âCompanies seeking to expand are faced with a choice between internal or organic growth and growth through MAs. Internal growth may be a slow and uncertain process. Growth through MAs may be a much more rapid process. If a company seeks to expand within its own industry, they may conclude that internal growth is not an acceptable alternative, for example, if a company has a window of opportunity that will remain open for only a limited period of time, slow internal growth may not suffice. As the company grows slowly through internal expansion, competitors may respond quickly and take market share. The only solution may be to acquire another company that has a resource, such as established offices, and facilities, management and other resources, in placeÃ ¢Ã¢â ¬?. (Gaughan, 2007, p 117). Some mergers may result in market power which redounds to the benefits of the merging firms. George Stigler argued that Ã ¢Ã¢â ¬Ã âsuch an effect might have been a primary motivation for many of the mergers and acquisitions during the last quarter of the 19th century and first half of the 20th century. He called the 1887-1904 merger wave Ã ¢Ã¢â ¬Ã âmerger for monopolyÃ ¢Ã¢â ¬? and the 1916- 1926 wave Ã ¢Ã¢â ¬Ã âmerger for oligopolyÃ ¢Ã¢â ¬?. (Stigler, 1968, p 23). 2.3.6 Synergy Theory This refers to the fact that the combined company can often reduce duplicate departments or operation, lowering the costs of the company relation to the same revenue stream, thus increasing profit. Ã ¢Ã¢â ¬Ã âThe two main types of synergy are operating synergy and financial synergy. Operating synergy comes in two forms: revenue enhancement and cost reduction. These revenues enhancements and efficiency gains or operating economies may be derived in horizontal or vertical mergers. Financial synergy refers to the possibility that the cost of capital may be lowered by combining one or more companiesÃ ¢Ã¢â ¬?. (Gaughan, 2007, p 124). Ã ¢Ã¢â ¬Ã âFinancial synergies result in lower cost of capital by lowering the systematic risk of a companyÃ ¢Ã¢â ¬Ã¢â ¢s investment portfolio through an investment in an unrelated businessÃ ¢Ã¢â ¬?. (Trautwein, 1990, p 283). Below the list of reasons has been provided that are initiating consolidation in the form of merger and acquisitions in the U.K banking industry. Competition from building societies. New entrants into saving markets. New technology and the internet. Competition from the overseas banks. Government Policies. Economies of scale scope. Managing branch networks. 2.4 MERGER AND ACQUISITIONS: BENEFITS AND DRAWBACKS Lumby and Jones identified four key benefits and five draw backs of mergers and acquisitions as follows: 2.4.1 BENEFITS 220.127.116.11 Speed: An acquisition allows the companyÃ ¢Ã¢â ¬Ã¢â ¢s newly formed strategy to be implemented rapidly. Through organic growth it will take the company much longer to reach the same level of business activity. 18.104.22.168 Critical mass: The Company is able to immediately achieve the critical mass of assets and activity levels that might be needed to obtain the operating economies of scale that exist in the chosen business area. At the early stages of organic growth into a new business area, the operating economies enjoyed by large competitors will not be achievable; so putting the developed business activity at a significant competitive cost disadvantage, from which further progress may not be possible. 22.214.171.124 Own-paper financing: An acquisition can be made without impacting on the companyÃ ¢Ã¢â ¬Ã¢â ¢s cash resources or on its liquidity, by financing it with an issue of new equity called the companyÃ ¢Ã¢â ¬Ã¢â ¢s Ã ¢Ã¢â ¬ÃÅ"own-paperÃ ¢Ã¢â ¬Ã¢â ¢. In contrast, organic growth will require the expenditure of the companyÃ ¢Ã¢â ¬Ã¢â ¢s cash and credit resources. 126.96.36.199 Intellectual assets: In addition to the tangible assets of the acquired company, an acquisition will also bring with it intellectual assets such as the Ã ¢Ã¢â ¬ÃÅ"know-howÃ ¢Ã¢â ¬Ã¢â ¢, and business contacts of the management team, the skills of the workforce and its trading reputation. With organic growth, these may have to be developed Ã ¢Ã¢â ¬ÃÅ"in-houseÃ ¢Ã¢â ¬Ã¢â ¢ over time. In spite of the identified benefits, mergers and acquisitions have the following significant drawbacks as stated by Lumby and Jones: 2.4.2 DRAWBACKS 188.8.131.52 Risk: Mergers and acquisitions have a significant risk of high-cost failure attached. This is because an acquisition represents a single, very large investment, which if it turns out to be a mistake, then the business will have lost a substantial amount of its value. 184.108.40.206 Acquisition premium: Most acquisitions require the payment of an acquisition premium in order to persuade shareholders of the target company to sell their shares. This means that the acquiring company will be paying more than the economic worth of the company. 220.127.116.11 Steep learning curve: The acquiring company will have to rapidly learn how to manage an unfamiliar business and they may not necessarily be successful in doing so. In contrast, the slower pace of organic growth allows the management far more time in which to learn the range of new skills required to successfully manage the new business area. 18.104.22.168 Post-acquisition problems: Acquisitions could lead to a clash of management cultures between those of the acquired company and the acquiring company. This will often lead to key members of the acquired company leaving post-acquisition, resulting in the loss of vital intellectual capital. This may not be the case with organic growth. 22.214.171.124 Coinsurance effect: In an acquisition where either the predator company or/and the target company has debt financing, then there is the risk of a post-acquisition wealth transfer from the shareholders to the debt holders. (Lumby, 2003). 3. AIMS AND OBJECTIVES This Proposal has been built upon the analysis of the mergers and acquisition of banks in the U.K, like the acquisition (takeover of NatWest by Royal Bank of Scotland) in 2000. In this research my effort is to attempt and cover all important issues related to Mergers and Acquisition, like what causes, and initiates a merger or an acquisition, the benefits accrue to the company, its employees and customers etc, and native aspects of MA. This research investigates into the roots and causes of ever increasing consolidation activity and tries to critically evaluate merger and acquisition. Another aim of the proposal is to study the expectations of the stakeholders of the banks in the U.K, and the effect a merger or an acquisition has on them. Three stakeholders, namely, shareholders, employees and customers shall be studied in detail with the help of the case study. As according to the Schweigher: MAs basically aim at enhancing the shareholders value or wealth, the results of several empirical studies reveal that on an average, MAs consistently benefit the target company shareholders but not the acquirer company shareholders. A majority of corporate mergers fail. Failure occurs on average, in every sense, acquiring firm stock prices likely to decrease when mergers are announced; many acquired companies sold off; and profitability of the acquired company is lower after the merger relative to comparable non-merged firms. Consulting firms have also estimated that from one half to two-thirds of MAs do not come up to the expectations of those transacting them, and many resulted in divestituresÃ ¢Ã¢â ¬Ã¢â ¢. (Schweiger, 2003, p 71). The conclusion from this case study support my hypothesis that, whether stakeholders benefit from the merger and acquisition, because on the one hand, sometimes the merger and acquisition is beneficial for shareholders of the merging /or acquiring bank. On the other hand, employees are left worse-off following job cuts and redundancies. 4. STATEMENT OF DESIGN AND METHODOLOGY In order for the aims and objectives of the research to be fulfilled, it is essential to expand an understanding of the reason for growing tendency amongst banks in United Kingdom to pool together and the advantages of this pooling. The design of this project shall follow the deductive approach, like questionnaire, and the inductive research or the internal research will focus on interviews with the Managers and staff and customers of Royal Bank of Scotland and NatWest. In this regards, it is not an easy task to get an interview from the managers or the members of staff, but I shall try my best to do so. The external research will be carried out through the readings of books, journal and published data. Another difficult thing was access to annual reports, but I have already got the annual reports of both banks. The theory, annual reports and different analysistÃ ¢Ã¢â ¬Ã¢â ¢s reports on the concepts of mergers and acquisitions shall be critically reviewed and thereafter compared and contrasted with facts gathered from the case study to confirm or disprove existing knowledge. Finally, both qualitative and quantitative data shall be analysed to make desired recommendations and conclusion. (UWIC Guidelines, Red Book is read carefully). 5. SOURCES AND ACQUISITION OF DATA Ã ¢Ã¢â ¬Ã âResearch can be done through books, as everyone knows, as only some knows; it can be done by letters. It can also be performed through ConversationÃ ¢Ã¢â ¬?. (Watson, 1999, p 52). Sources of data adopted for this project include both secondary and primary data. A secondary data source enables a better understanding and explanation of the research problem. The literature review is a type of the secondary data, it involves the review of earlier studies on and around the research topic. Other secondary data includes the books on Finance, Mergers and Acquisitions, Strategy, journals, annual reports, analysistÃ ¢Ã¢â ¬Ã¢â ¢s reports and different online resources like web pages of Royal Bank of Scotland and NatWest bank, should be used. In addition to the secondary data stated above, primary data sources shall equally be utilised to gather data directly from the key players in the merger and acquisition process. This shall include the use of questionnaires and personal interviews with managers and members of staff of RBS and NatWest. The interviews must be focused on the research area and not delve into alternative areas. (UWIC Guidelines, Red Book is been studied thoroughly). METHOD OF DATA ANALYSIS Data analysis is the most difficult part of the project. Data analysis is the process of applying statistical, systematic and logical techniques, comparing the data and managing it. During the project both the qualitative and quantitative data will require analysis. In order to determine how well a company has performed in delivering stakeholders value, we need to make a comparison with its past performance. The first annual figures for The Royal Bank of Scotland Group following the acquisition of NatWest show the enlarged Group made a profit before tax, goodwill amortisation and integration costs of ÃâÃ £4,401 million on a pro forma basis for the year to 31 December 2000, an increase of 31 per cent. The period analysed would be broken into following categories. 1999 The Pre-acquisition period. 2000 The Announcement and bidding period. 2001 The Post acquisition period. The analysis shall cover some expense ratios, profitability ratios and balance sheet ratios. The expense and profitability ratios shall be used to analyse efficiency and profitability during the pre- and post-acquisition periods, while the balance sheet ratio shall be used to analyse changes that may have occurred that might have affected efficiency or profitability. Timetable ÃâÃ Weeks 1 2 3 4 5 6 7 8 9 10 11 12 Problem Identification ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Review of Literature ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Research Design ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Choice of Methodology ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Data Sources ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Data Collection ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Data Analysis ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Draft Writing ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Editing ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Final Documentation ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ Binding Submission ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ ÃâÃ REFERENCES Books: Arnold, G, 2005, Ã ¢Ã¢â ¬Ã âCorporate Financial ManagementÃ ¢Ã¢â ¬?, 3rd edition, England, Prentice Hall, p 1041 1052. Arnold, G, 2002, Ã ¢Ã¢â ¬Ã âCorporate Financial ManagementÃ ¢Ã¢â ¬?, 2nd edition, Great Britain, PrinticeHall, p 870. Fred W. J and Weaver S. C, 2001, Ã ¢Ã¢â ¬Ã âMerger and AcquisitionÃ ¢Ã¢â ¬?, 1st edition, Los Angeles, McGraw-Hill Professional, p 6. Gaughan P. A, 2007, Ã ¢Ã¢â ¬Ã âMerger, Acquisition, and Corporate RestructuringsÃ ¢Ã¢â ¬?, 4th edition, New Jersey, John Wiley Sons, Inc, p 13, 117 124. Gilson R, Scholes M. S and Wolfson M. A, 1988, Ã ¢Ã¢â ¬Ã âTaxation and Dynamics of Corporate ControlÃ ¢Ã¢â ¬?, 1st edition, New York, Oxford uni press, p 273. McLaney, E, 2005, Ã ¢Ã¢â ¬Ã âBusiness Finance, Theory and PracticeÃ ¢Ã¢â ¬?, 7th edition, U.K, Pearson Education, P 395. Ravenscraft D. J and Schere F. M, 1987, Ã ¢Ã¢â ¬Ã âMergers, Sell-offs, Economic EfficiencyÃ ¢Ã¢â ¬?, Washington D.C, Brookings Institution Press, p 211. Red Book, UWIC Guideline. Stewart, G.B, 1991, Ã ¢Ã¢â ¬Ã âThe Quest for Value, A guide for senior ManagerÃ ¢Ã¢â ¬?, New York, Harper Business, p 375-382. Sudarsanam, S, 2003, Ã ¢Ã¢â ¬Ã âCreating Values from Mergers and Acquisitions-The ChallengesÃ ¢Ã¢â ¬?, England, Pearson Education Limited, p 140. Watson, G, 1999, Ã ¢Ã¢â ¬Ã âWriting A ThesisÃ ¢Ã¢â ¬?, 1st edition, New York, Pearson Education Ltd , P 52 Watson, D and Head, A, 2006, Ã ¢Ã¢â ¬Ã âCorporate Finance, Principles and practiceÃ ¢Ã¢â ¬?, 4th edition, U.K, PrinticeHall, p 317. Journals: Stigler G, (1968) Ã ¢Ã¢â ¬Ã âMonopoly and Oligopoly by MergerÃ ¢Ã¢â ¬?, American economic Review (1968) by the organisation of industry, Vol 40, No 2, May, p 23-34. Trautwein F, (1990), Ã ¢Ã¢â ¬Ã âMerger Motives and Merger PrescriptionsÃ ¢Ã¢â ¬?, Strategic Management Journal (1986-1998), Vol 11, No 4, May/June, p 283, by John Wiley sons. Shleifer. A and Summer, L. H (1988), Ã ¢Ã¢â ¬Ã âBreach of Trust in Hostile Takeovers; from Corporate Take over: Causes and Consequences, P 33-67, The University of Chicago Press. Vaara, E, (2000), Ã ¢Ã¢â ¬Ã âConstructions of Cultural differences in post-merger change process: a sense making perspective on Finnish-Swedish casesÃ ¢Ã¢â ¬?. [emailprotected]/* */@gement Vol 3, no3: p 82. Schweiger, D.M, (2003), Ã ¢Ã¢â ¬Ã âMA Integration: A Framework for Executives and Managers,Ã ¢Ã¢â ¬? Book Summary by Niranjan Swain, in The ICFAI Journal of Applied Finance, Vol 9, No 2, p 71-79. Articles (Electronic): European Central Bank, (2000), Ã ¢Ã¢â ¬Ã âMergers and acquisitions involving the EU banking industryÃ ¢Ã¢â ¬?, Available from, (www.ecb.eu/pub/pdf/other/eubkmergersen.pdf -accessed on 12-05-2008. Powell, C, (2008), Ã ¢Ã¢â ¬Ã âMergers and acquisitions involving UK companiesÃ ¢Ã¢â ¬?, First Release, P 1, Available from (https://www.statistics.gov.uk/pdfdir/ma0608.pdf, accessed on 06-06-2008). Websites: https://www.rbs.com/media03.asp?id=MEDIA_CENTRE/PRESS_RELEASES/2001/MARCH/RESULTS2000- accessed on 02-06-2008 https://www.lloydstsb.com/about_ltsb/lloyds_bank.asp- accessed on 04-05-2008.
Sunday, May 17, 2020
<h1> A Deadly Mistake Uncovered on Research Paper Writing and How to Avoid It </h1> <h2> Research Paper Writing - Dead or Alive?</h2> <p>Knowing the legitimateness of the association you're buying the example paper is vital. Second, the examination question should be clear. You're ready to make yours unique in the event that you buy a paper accomplished by an expert on the web. An examination paper composing business can assist you with announcing accurately. </p> <h2>What You Must Know About Research Paper Writing </h2> <p>Research Paper isn't an assignment for a solitary day. Building up an extraordinary research paper isn't exactly as hard as you would might suspect. </p> <p>An individual ought to understand that each Research Paper is a modern composing since it must contain particular research and unmistakable thought. 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Wednesday, May 13, 2020
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Monday, May 11, 2020
How to Write a Sample Test EssayFirst of all, before reading the instructions on how to write a sample test, I would like to point out that there is a right way and a wrong way to prepare for a test. All students have different goals in mind when they set about to write a sample essay. For some students it may be to demonstrate their writing skills while for others it may be to receive a high grade.The first thing that students should consider doing is to get a good outline of the topic of the essay. It should consist of an introduction, body, conclusion and a list of supporting information. It is essential to consider the essay as if it were your dissertation. In other words, think of it as if you were conducting a research study.As an example, let's say you wanted to write a sample essay to achieve a b average. You will want to make sure that the introductory paragraph establishes your connection with the topic, the topic itself creates a background for the topic and you make the r eaders understand what the topic is about. To do this, you will need to connect the topic of the essay to the student's ability to express their thoughts. In other words, it should be clear that your subject is ability and what makes your student's writing so unique. Make sure to use a clear statement about who you are asking to view the sample essay or lecture.The next thing you will want to do is to read through the document with an idea of who the author is and what their abilities are. If the essay is for a grade level, look at the best-selling authors and choose an author that is related to your subject. There are many writing samples that will offer advice on this.Next, begin by writing about a critical text. Choose the book that is closest to your student's subject matter and find ways to make it fit within the essay. In many cases, you can buy books in bookstores or online that are used for support purposes.Make sure to keep a copy of the book, or seek out a friend who has a copy of the book that you can borrow. To keep track of your ideas throughout the essay, keep a scrap book.While keeping track of your work, make sure to also ensure that you jot down any comments, questions or thoughts that the reader may have. It is important to maintain a conversation going between yourself and the reader.When you are finished reading the essay, find a source of additional reading and make sure to read it aloud. Make sure to take notes on every word the reader reads, every change in tone that they make and any nuances that they may have missed. After you have written it all down, put a few in the back of your head and make sure to refer to them whenever you feel like the topic comes up again.
Sunday, May 10, 2020
<h1>Human Resources Management Research Paper Topics</h1><p>Human assets the board examine paper subjects ordinarily can be categorized as one of three general classifications. These classifications depend on the time span that are included, the budgetary establishments that you select as wellsprings of your data, and whether you will utilize a product program to assemble your information. The exploration paper subjects of these three classifications may appear to be comparable, however they are not.</p><p></p><p>The two classes of research paper themes are relative. This implies they allude to their length just comparable to the period of time that you have to direct your examination. Be that as it may, the entirety of the points in this classification, even the most brief, have an extremely extensive stretch of time involved.</p><p></p><p>Another class of research paper subjects is a relative one. These incorporate t hings like compensation gauges and vocation patterns. You can discover the remainder of the data that you requirement for your exploration dependent on what is contained in these articles. Since there is no foreordained length for these articles, you can get the entirety of the data that you need without trusting that the article will be finished before the time allocated for your exploration is up.</p><p></p><p>The third class of research paper points is the one that will frequently be the most hard to look into and complete. As you read through the articles, you will see that huge numbers of them will just contain a couple of thoughts that are regular among the entirety of the articles in a similar branch of knowledge. You will see numerous articles that incorporate the entirety of the data that you need, however that doesn't appear to go anywhere.</p><p></p><p>For this explanation, it is critical to concentrate on your particular su bjects. When you have done this, you will have the option to figure out which wellsprings of data are best for you. When you have limited your data sources, you will at that point need to utilize a product program to gather the data that you need to gather. The product programs that are accessible are called wellsprings of data programming, and they come in a wide range of varieties.</p><p></p><p>One sort of programming is alluded to as 'word processor.' It doesn't require any sort of guidance from you. You essentially need to type in a subject of intrigue and afterward click the 'distribute' button. This will open up the wellspring of data, and you will at that point have the option to start perusing the different articles in the source.</p><p></p><p>The time required for doing this exploration can shift as per how quick you have to begin. Numerous individuals don't have to stand by excessively long. A few articles, be that as it may, will require a few hours to finish. The other time that the exploration paper points will take is a result of the different wellsprings of data that you should take a gander at before you choose which of the articles to use.</p>
Saturday, May 9, 2020
<h1>Use Updike's A&P By John Updike To Gain Interest In His Essays</h1><p>What would you be able to do with A&P by John Updike on the off chance that you need to get some answers concerning his inclinations? You might not have known about him yet, however on the off chance that you are searching for data on the author himself, you will have a great deal of material to work with.</p><p></p><p>On top of being celebrated, one can utilize this book as a marker of what his style of composing might be. Updike's books generally spread the 'Uncle Tom' situation and follow the lives of individuals who lived in the United States during slavery.</p><p></p><p>Updike has said that he composed these books since he was taken into servitude in any case. He depicts the involvement with his book-plays as 'a snapshot of easygoing intimacy.'</p><p></p><p>With that as a main priority, what else would you be able to anticipate from A&P by John Updike? That is very a central issue in light of the fact that there are various things that individuals can pick up from perusing it.</p><p></p><p>One reason that individuals can come to welcome the creator is that he portrays life so well. He says that he frequently feels as though he is only the voyeur of the story. At the end of the day, he doesn't concentrate on whatever's truly intriguing but instead on the person that he's following.</p><p></p><p>Another motivation behind why A&P by John Updike can be helpful to individuals is that it gives fascinating exposition subjects. More often than not, he discusses the educational encounters of somebody who wasn't from the Southern United States.</p><p></p><p>If you happen to be somebody who has expounded on subjugation, you can utilize this book as a kind of perspective. Since he expounds on an encounter that individuals had in those days, you can become familiar with a great deal by attempting to apply a portion of the procedures that he uses to write.</p><p></p><p>Now that you comprehend what you can pick up from A&P by John Updike, it's dependent upon you to exploit this. Great luck!</p>
Friday, May 8, 2020
How to Align Text Right With a Program Such as Adobe Acrobat ReaderIn order to align text right you must have a certain skill set. You will be required to use software that can calculate the level of style adjustments needed and make them. This is critical to ensure that all the data in your document is correct before you publish.To understand how to properly align text with a program such as Adobe Acrobat Reader, you must first understand the steps to take in order to resize the document and insert the data in the correct place. The first step is to align the text to the correct side. To do this first turn the page so that the page number is at the top left corner and then turn the page by moving the page up and down until the page number is aligned correctly. It will then look like this:After this step, turn the page again and press the ALT key on your keyboard to display a menu where you can select the page you wish to change. Pressing ALT then returning to the menu will bring up the 'Page Setup' window. On this window you will see the 'Page Setup' button. If you are working with a single page, you will only see this button. If you have more than one page selected, the button will be in the bottom right hand corner and will have a label of 'Page Setup'.If you see the button labeled 'Page Setup', it will be set to 'ON'. If you want to change it, all you need to do is press it once and it will change to the 'OFF' position. It will return to its original position when you press it again. However, if you are changing the page on which you are working, all you need to do is turn the page in the correct direction and then change the button. Turning the page left or right will return it to the correct position.Then you will need to find the section of the document where the text should be aligned to. Again, you will see the 'Page Setup' button and you will see a section numbered 'Format'. If you know what the section looks like you can simply move the button until the position you want it is the section and then make sure the number is on the same side as the button. Otherwise, you may need to adjust the position for it.Once you have aligned the text you need to change the font and style to match. If you are working with one word of text, you will want to use the font size and typeface you usually use. If you are working with more than one word of text, you will need to find the font or typeface that is appropriate for the text and adjust the style accordingly.If you are working with a one-page paper, you will want to make sure that you use the font size and font color that are normally used when writing. This will help the font size and color to show up as the way you expect it to. If you are working with multiple pages, you will need to readjust the text until it looks as you want it to.In order to align the text with a program such as Adobe Acrobat Reader, you will need to use some form of software that has been developed specifically for such needs. If you can not use an Acrobat reader then you will need to use another program, such as Microsoft Word. However, there are programs that can be installed on your computer such as a Wordcut or the iWork file.
Argumentative Essay Topics on ChildhoodArgumentative essay topics on childhood do not need to be as long and detailed as those on medical or scientific topics. A student can put a little more energy into writing an essay topic that focuses on childhood experiences.Almost all high school students have at least a vague idea of what childhood is like. They have all seen the movies and read books about childhood, especially their own.A good argumentative essay topic on childhood experience can be as simple as asking a question: What is it like to grow up as a child? You can then proceed to answer that question. From there, you can move into answering other questions such as: How did your childhood experience influence the rest of your life?It helps to think about your perspective before you write. The general questions in an argumentative essay topic can be answered with a 'yes'no' answer. However, when you are writing about childhood experiences, you can go beyond yes/no and start think ing about how your perspective has changed from childhood to adulthood. You may also ask yourself if you have matured as a person, as a child or adult?Life experiences are the most important element in creating a lifelong memory, but you have to be careful to think through the implications of your answers. If you can't find a way to answer the same question without making a controversial statement, then simply avoid the topic. You can simply move on to another topic or become creative by rephrasing the question.The nature of argumentative essay topics on childhood experiences is not unlike the nature of argumentative essays on medical and scientific topics. As a general rule, you can use medical terms where possible to describe medical issues and scientific terms where appropriate to describe scientific facts. Just be sure to apply these rules consistently and not to put forth a medical opinion in an essay on childhood or medical experiences.Using an argumentative essay topic on chi ldhood is a great way to make a lasting impression in a classroom or college. An argumentative essay topic on childhood experience will help to establish your writing as informative and enjoyable for the reader.
Wednesday, May 6, 2020
Harvard Business School 9-201-046 Rev. April 26, 2001 Cost of Capital at Ameritrade In mid-1997, Joe Ricketts, Chairman and CEO of Ameritrade Holding Corporation, wanted to improve his companyÃ¢â¬â¢s competitive position in deep-discount brokerage1 by taking advantage of emerging economies of scale. The success of the strategy required Ameritrade grow its customer base. The growth would require substantial investments in technology to improve service and capacity, and in advertising, to increase customer awareness. The strategy would require large expenditures relative to AmeritradeÃ¢â¬â¢s existing capital. In order to evaluate whether the strategy would generate sufficient future cash flows to merit the investment, Ricketts needed anÃ¢â¬ ¦show more contentÃ¢â¬ ¦Full-service brokers were less sensitive to market movements than deep-discount brokers like Ameritrade. Full-service brokers received asset management fees, which partially shielded the revenue stream from market declines. Moreover, most full-service brokerage firms such as Merrill Lynch diversified t heir revenue stream by engaging in investment banking activities such as mergers and security underwritings. Planned Investments and the Cost of Capital Ricketts planned to grow AmeritradeÃ¢â¬â¢s revenues by targeting self-directed investors. Ricketts decided AmeritradeÃ¢â¬â¢s mission was Ã¢â¬Ëto be the largest brokerage firm worldwide based on the number of trades.Ã¢â¬â¢ RickettsÃ¢â¬â¢ strategy called for price cutting, technology enhancements, and increased advertising. First, Ameritrade would reduce commissions from $29.95 to $8.00 per trade for all Internet market orders. There were currently no major players in this price range although many customers were price sensitive. To ensure competitors such as Charles Schwab and E*Trade did not follow AmeritradeÃ¢â¬â¢s lead and try to compete on price, Ameritrade would have to become the low cost provider of reliable online brokerage services. State of the art technology was the only way to prevent system outages and move towards the goal of 100% reliability. Therefore, up to $100 million would be budgeted for technology enhancements which also would increase trade execution speed - an important attribute to individual investors.Show MoreRelatedCost of Capital at Ameritrade1330 Words Ã |Ã 6 PagesCase Study of Cost of Capital at Ameritrade 1-a How can the CAPM be used to estimate the cost of capital for a real business investment decision? CAPM results can be compared to the best expected rate of return that investor can possibly earn in other investments with similar risks, which is the cost of capital. Under the CAPM, the market portfolio is a well-diversified, efficient portfolio representing the non-diversifiable risk in the economy. Therefore, investments have similar risk if theyRead MoreCost of Capital at Ameritrade1450 Words Ã |Ã 6 PagesCost of Capital at Ameritrade What factors should Ameritrade management consider when evaluating the proposed advertising program and technology upgrades? Why? Mr. Ricketts believes that his role as CEO is to maximize shareholder value by accepting any project whose expected return on investment is greater than the cost of capital. Therefore, the main factors that Ameritrade management should consider are the expected return on investment for the project, and how this compares to the projectÃ¢â¬â¢sRead MoreCost of Capital at Ameritrade1080 Words Ã |Ã 5 PagesCase Solution Cost of Capital at Ameritrade | | Ã¢â¬ ¢ Executive summary: Formed in 1971 and listed in March 1997, Ameritrade has been one of the most successful players in the deep- discount brokerage sector. AmeritradeÃ¢â¬â¢s two major sources of revenue, Transaction income (brokerage commissions, clearing fees, and payment for order flow) and Net interest revenues that were generated from net balanceRead MoreCost Of Capital At Ameritrade2201 Words Ã |Ã 9 Pages Cost of Capital at Ameritrade Introduction: Ameritrade is a pioneer in the deep-discount brokerage firm market that was formed in 1971. In March 1997, Ameritrade raised $22.5 million in a stock IPO allowing the company to continue its long tradition of adopting the latest advances in technology, and substantially increasing advertising to build its brand and improve market share. Joe Ricketts, Chairman and CEO of Ameritrade Holding Corporation, wanted to improve the companyÃ¢â¬â¢s competitive positionRead MoreAmeritrade Ã¢â¬â Cost of Capital2478 Words Ã |Ã 10 PagesGroup Case 1: Ameritrade Ã¢â¬â Cost of Capital Executive Summary: As a deep-discount brokerage, Ameritrade planned to improve its competitive position by price cutting, technology enhancements, and increased advertising in mid-1997. Before initiating the plan, Ameritrade needed know whether the investment returned more than it cost. We were hired to estimate the cost of capital correctly. The key question is to find suitable comparable firms to estimate AmeritradeÃ¢â¬â¢s asset beta, since it was a recently-listedRead MoreEssay Ameritrade Cost of Capital1042 Words Ã |Ã 5 PagesAmeritrade is formed in 1971, and is a pioneer in the deep-discount brokerage sector. In march 1997, Ameritrade raised $22.5 million in an initial public offering. Management at Ameritrade is considering substantial investments in technology and advertising, but is unsure of the appropriate cost of capital. Estimating the cost of capital 1. Since we do not have the beta for Ameritrade, we need to find comparable firms for which we could compute the betas. There are several candidates in theRead MoreCost of Capital at Ameritrade Ppt960 Words Ã |Ã 4 PagesCase: Cost of Capital at Ameritrade 1 Introduction Ameritrade is formed in 1971, and is a pioneer in the deep-discount brokerage sector. [A deep-discount broker is a broker that offers lower commissions than a discount broker, but also provides fewer services to clients. Such a broker usually will not provide anything beyond execution of stock and option trades, and will charge a flat fee regardless of the size of the trade] In march 1997, Ameritrade raised $22.5 million in an initialRead MoreAmeritrade - Cost of Capital Evaluation4249 Words Ã |Ã 17 PagesFinance Seminar 12.12.2011 Case Study #2 Ameritrade Company Cost of Capital Evaluation Executive Summary The Ameritrade case study analysis brought in this paper comes to estimate the final cost of capital that should be applied to AmeritradeÃ¢â¬â¢s technology and marketing investment project. Allegedly, the final purpose of every WACC calculation is in helping to estimate the NPV of a project in order to make a Ã¢â¬Å"go\no goÃ¢â¬ decision, whether it is done by an investor or a creditor. HoweverRead MoreEssay about Cost of Capital at Ameritrade1002 Words Ã |Ã 5 PagesChairman and CEO of Ameritrade Holding Corporation, wanted to improve his companyÃ¢â¬â¢s competitive position in deep-discount brokerage1 by taking advantage of emerging economies of scale. The success of the strategy required Ameritrade grow its customer base. The growth would require substantial investments in technology to improve service and capacity, and in advertising, to increase customer awareness. The strategy would require large expenditures relative to AmeritradeÃ¢â¬â¢s existing capital. In order to evaluateRead MoreCase Analysis Cost of Capital at Ameritrade601 Words Ã |Ã 3 PagesCase analysis Cost of Capital at Ameritrade Cost of capital refers to the maximum rate of return a company must earn from its investments, so that the market values of the companyÃ¢â¬â¢s equity shares do not go down. The people at Ameritrade are not in agreement on the best estimate of the cost of capital. Research analyst put the cost of capital at 12%, while other members of the management estimate it to be at 9% and the CFO estimates it to be at 15%. The CEO of the company is optimistic that
Question: Discuss About The Business Procedure Organizations Utilize? Answer: Introduction A strategy refers to a plan or action that is designed to achieve the long-term objective of business. This report explains the competitive strategy of the different industry that is computer industry (IBM and Microsoft) and car industry (Tata Motors and Maruti Suzuki). The report analyzes the competitive strategy of these industries on the basis of global strategy as business model change and targets markets and modes of entry. The report also evaluates the approaches of the both the industries and find the reasons behind their success with respect to the theory. The main purpose of examining the competitive strategies management of the computer industry and car industry is to know the competitive advantages and the strategy which will increase the performance of the industries. Competitive strategies (Computer industries) According to Becker-Ritterspach Bruche (2012), the report explains the competitive strategy of computer industries which show IBM and Microsoft Company strategies on the basis of global strategy as a business model change. IBM Competitive strategies According to Bock et al. (2012), IBM (International Business Machines) is a multinational technology organization which produces and markets personal computer hardware, software and offers to facilitate and counseling in areas running from centralized a server to nanotechnology. IBM is also a big major research company, holding the record for most licenses created by a business for 24 consecutive years. The competitive strategy of IBM is explained on the basis of two major factors which are detailed below: Global strategy for business model change According to Bowonder et al. (2010), IBM strongly operates in the worldwide information technology industry through the effective execution of the firms common strategy for the competitive benefit and intensive development strategies to utilize growth opportunities in several markets. IBM had a large rate of technological creation is at the core of the companys common competitive strategy. Establishing a worldwide business model refers to the advancement of an all around incorporated condition, using capacities to manufacture an arrangement of business and abilities to better contend and better serve the necessities of buyers internationally. IBM working in a multinational plan of action with the little IBM in the greater part of the nations, for example, in IBM Japan, IBM Canada, IBM France and in more countries (Casadesus-Masanell Ricart, 2010). IBM is able to adapt a shared service model that permitted the company to strip away a lot of the cost and difficulties while utilizing t he resources and talent. The competitive strategy of IBM also concentrates on the expanding, generating and delivering large value for the customers rather than maintaining the inside working. IBM is motivating policy makers to concentrates on the favorable actions in order to make better creativity abilities and skills development. Microsoft Competitive strategies According to Cusumano et al. (2015), Microsoft is an American multinational development association which produces, makes, licenses, support and offers PC programming, customer equipment, PCs, and organizations. The best-known programming consequences of Microsoft are the Microsoft window line of working frameworks, the Microsoft office suite and the web voyager and edge web programs. The affiliation also makes an expansive combination of other customer and endeavor programming for desktops and servers, including Internet look, the computerized administration's showcase, blended reality, cloud computing (Azure) and programming improvement (Visual Studio). The competitive strategies of Microsoft can be explained by the below following factors: Global strategy for business model change According to Grant (2016), Microsoft can accomplish overall markets and use these business divisions as an outlet to bring lower advancement and information systems costs is through the technique of outsourcing. In April 2010, Microsoft indicated a game plan with an Indian outsourcer Infosys Technologies LTD in order to manage parts of the generally speaking internal information technology costs. Microsoft is a world leader in computers innovation and has positioned itself as the main presence in India. The business strategy of Microsoft combines the main three elements: Cloud first: According to Gupta Malhotra (2013), the insightful cloud represents one of the strong powerful components of Microsoft competitive benefits and Microsoft business strategy puts the main focus on cloud segment of the business. The main objective of the company was to accomplish USD 20 billion in commercial cloud annualized income in the financial year 2018. Growing through mergers and acquisitions: In June 2016, Microsoft procured LinkedIn for USD 196 per share in all money exchange valued at USD 26.2 billion. This specific acquisition assumes an instrumental part to interface the worlds expert cloud and the worlds professional network in making new encounters and new value for business clients. Concentrates on expansion: According to Hollensen (2015), the company has shared substantial time and energy in explaining the business capability which can utilize for business. Moreover, Microsoft is enablsing to indicate how virtual reality could better the shopping experience especially in education and automotive creation. Competitive strategies (Car industries) According to Howes et al. (2013), the report explains the competitive strategy of car industries which explain the strategies of Tata Motors and Maruti Suzuki organization. The report describes the competitive strategies of these companies on the basis of target marketing structure and modes of entry. Tata Motors Competitive strategies According to Keller et al. (2011), is an Indian multinational car fabricating association which produces autos, trucks, vans, mentors, transports, sports autos, development things and military vehicles. To put it plainly, the organization serves to the three market partition comprehensively that is traveler autos, utility vehicles, and business vehicles. Goodbye engines are likewise recorded on the Bombay Stock trade where it is a part of the Bombay stock trade, National stock trade of India and the New York Stock trade. Goodbye engines have gone into key securing and joint ventures in its inside level and begin new things at a faster rate in a couple of business sectors. In the current circumstance, association acknowledges the position of being Indian's driving vehicle maker with broadening proximity in Europe, South East Asia, Africa, Australia and the center East with an aggregate a more unmistakable measure of US $ 4 billion (McGrath, 2013). The affiliation prevalently concentra tes on giving customers the best a motivating force for their cash meets European principles and biological course through their impelled progressions. The association is a general concern working in more than 100 countries with incalculable as there is no other industry which is from every angle untouched by the social event. Target market and modes of entry According to Ortega (2010), the automobile industry is of vital significance to the Australian economy as the automobile is the biggest manufacturing industry in the United Kingdom. This industry supports many different businesses such as aluminum, steel, glass, plastic and also adds to the exports of the country. Tata Motors, the Indian automobile brand has looked to think with a variety of light commercial vehicles in the United Kingdom automobile markets, with the support of the local United Kingdom automobile wholesaler, fusion automotive. This partnership would empower Tata motors to enter the United Kingdom competitive markets giving select appropriation rights to Fusion automotive. The convergence of Tata's market segment will be the UK. There are few purposes behind picking the UK as the goal advertises. These positive factors were the status of India as the great money related expert, UK auto feature movement, and potential, tongue comparability. Exchange nations which were considered as insistently captivating were: According to Peng (2013), USA is the biggest market size in the world developing its business sector with critical deals potential. The option of the USA as target advertise was declined as a result of to a great degree fantastic requirements and other non-require obstructions which make it troublesome for another part to enter this market. Likewise, this market is outstandingly making and encounters crazy level of centered weight. Concerning Russia, there were two or three negative parts which made it less captivating than the UK that is the helplessness of the further budgetary state, high path obstacles and no inside and out made dealership arrange. Maruti Suzuki Competitive strategies According to Rays Ray (2011), Maruti Suzuki India Limited is an automobile fabricates in India. Maruti Suzuki was India real car maker and the market pioneer in the auto division, both as far as the limit of vehicles and wage earned. The main competitive benefits of the industry are in terms of price, quality, and service. The company is famous for its large manufacturing standards and it gains award from the All India Engineering Export Promotion Council (EEPC) for the successive three years 1987, 1988 and 1989. The company concentrates on the improving manufacturing, enhance capacity, and build new items at persistent periods in order to meet to every one of the fragments of the Indian traveler auto market and undertaking into other related organizations like auto fund, protection and buying and offering utilized Maruti's vehicles. As indicated by Teeratansirikool et al. (2013), Maruti's reoriented exercises helped the association to keep up its market authority put and keep up it s piece of the pie. As a segment of focused technique, operations broadens its item portfolio and grows its deals and administration associations over everywhere India and with the rising competition, the company takes decisions to meet to all the segments of the Indian car market. A company by taking into consideration the rise in demand for passenger cars from several segments, Maruti Suzuki provides cars for different divisions such as follows: For the low level of income, Maruti 800 and Maruti Omani offered by the company For the middle level of income, Maruti Zen and Swift offer by the company For the high level of income, Swift Dzire, SX4 to sports benefit vehicle offered by the company. Thus, the company realizes that the strategy of segmentation permit organizations to remove direct competition in the market by distinguishing their products offering not only on the price basis but also by packaging, advertising appeal to customers and distribution methods. Target market and modes of entry According to Zott et al. (2011), Maruti Suzuki targets the rural market which is the main correspondent for the four-wheeler industry development. The proportion of 46 percent of the sales of Hero MotoCorp is assigned to the rural division. The rural market has the capability for development and can be depended upon for a sustainable growth. In the present scenario, one out of the each three cars that the car manufacturer sells is sold in the rural segment. The company has set estimations of 50 percent sales from the rural segment by the year 2015-2016 and the company gets the success for this estimations. Maruti already targets this market and even in the last month, there was the rise in the sales and the growth rate of the company was 55 percent. Company rural's market concentrates initiative begin back in the year 2007. The company segmented the class into small groups. The company appeals its capable customers through the Panchayats. The media also a significant part of this seg mentation in order to carry the message of these automobile companies to the potential customers. Maruti Suzuki makes its availability stronger by opened up 23 new retail outlets in the rural towns. The modes of entry company adopt is licensing and strategic alliances. The main advantage of licensing in entry mode for the company was the small investment on the part of the licensor is required and has the capability to offer a large return on investment. Licensing also decreases cost and involved limited risk. On the other hand, strategic alliances have become very popular in the recent years. This mode of entry allows the companies to divide the risk and resource required to enter into the foreign markets. Conclusion From this report, it has been concluded that the strategies adopted by computer industries (Microsoft and IBM) and car industries (Tata Motors and Maruti Suzuki) are exclusive and attractive. Their customer retention comparatively high in comparison to others. Microsoft and IBM offer several useful features to make email experiences as smooth as possible which includes software program, hardware, spam filtering, and much more which makes its products and services more attractive. On the other side, Tata Motors and Maruti Suzuki is already creating a superior brand image for all products it sells to the customer and solves queries for each customer by remaining available all time. References Becker-Ritterspach, F. Bruche, G., 2012. Capability creation and internationalization with business group embeddednessthe case of Tata Motors in passenger cars.European Management Journal,30(3), pp.232-247. Bock, A.J., Opsahl, T., George, G. Gann, D.M., 2012. The effects of culture and structure on strategic flexibility during business model innovation.Journal of Management Studies,49(2), pp.279-305. Bowonder, B., Dambal, A., Kumar, S. Shirodkar, A., 2010. Innovation strategies for creating competitive advantage.Research-technology management,53(3), pp.19-32. Casadesus-Masanell, R. Ricart, J.E., 2010. From strategy to business models and onto tactics.Long range planning,43(2), pp.195-215. Cusumano, M.A., Kahl, S.J. Suarez, F.F., 2015. Services, industry evolution, and the competitive strategies of product firms.Strategic management journal,36(4), pp.559-575. Grant, R.M., 2016.Contemporary Strategy Analysis Text Only. John Wiley Sons. Gupta, S. Malhotra, N., 2013. Marketing innovation: A resource-based view of international and local firms.Marketing Intelligence Planning,31(2), pp.111-126. Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education. Howes, R., Skea, J. Whelan, B., 2013.Clean and competitive: motivating environmental performance in industry. Routledge. Keller, K.L., Parameswaran, M.G. Jacob, I., 2011.Strategic brand management: Building, measuring, and managing brand equity. Pearson Education India. McGrath, R.G., 2013.The end of competitive advantage: How to keep your strategy moving as fast as your business. Harvard Business Review Press. Ortega, M.J.R., 2010. Competitive strategies and firm performance: Technological capabilities' moderating roles.Journal of Business Research,63(12), pp.1273-1281. Peng, M.W., 2013.Global strategy. Cengage learning. Ray, S. Ray, P.K., 2011. Product innovation for the people's car in an emerging economy.Technovation,31(5), pp.216-227. Teeratansirikool, L., Siengthai, S., Badir, Y. Charoenngam, C., 2013. Competitive strategies and firm performance: the mediating role of performance measurement.International Journal of Productivity and Performance Management,62(2), pp.168-184. Zott, C., Amit, R. Massa, L., 2011. The business model: recent developments and future research.Journal of management,37(4), pp.1019-1042.