Mergers, acquisitions and strategic alliance Essay

Mergers, acquisitions and strategic alliance - Essay Example However, industry and firm specific factors finally govern the reason and the purpose of the mergers and acquisitions and alliances taking place in the global market place. While much has been studied on the reasons of success and failures of M&A, the strategic reasons behind the mergers, acquisitions and alliances are being looked at in this paper. This paper will not focus on the post-merger success or failure but concentrate on the strategic reasons that prompt firms to enter into M&A and alliances. Mergers and acquisitions (M&A) has been described as ‘among the most important strategic decisions companies ever make’ (cited by Duncan & Mtar, 2006). Acquisitions can be based on strategic decisions like market expansion, product diversification or domain expansion. Thus many use it as a mode of entry into a foreign market where it is difficult to start a wholly owned venture. Hence the decision of M&A depends upon the resource-based view or the transaction cost analysis. Agency theory has also been explained as an M&A strategy. The agency theory contends that manager-controlled industrial firms pursue conglomerate diversification. Managers benefit from the increase in firm size and based on the belief that large firms will seldom fail and the executive compensation is linked to the firm size (Lin, Hung & Li, 2006). The resource-based view suggests that while firms have tangible and intangible resources, the resources do not create value unless they interact with othe r resources. If complimentary resources are not under the ownership control, the firms have difficulty in realizing the full potential of the resources. This becomes an incentive to merge with other firms that have complementary resources. M&A strategy can provide external sources of innovative competencies to protect the core business. As the same time,

Emma Bovary - searching for oranges on apple trees? :: essays research papers

To state that Emma Bovary, the heroine of Flaubert’s epic Madame Bovary, looks for oranges on apple trees and refuses to eat apples is a gross over-simplification. Emma would be no happier with oranges than she would be with apples. In fact, if her taste in fruit is anything like her taste in men, she would probably insist on a fruit with all of her desired qualities - perhaps a cross between the consistency of an apple, the fibre of an orange, the vitamins of a blackcurrant and the taste of a strawberry. In saying this, however, the statement is entirely accurate in that Emma is searching for the wrong things in the wrong places and is bitterly disappointed in not finding them as she desires. To analyse Emma Bovary is a difficult assignment, due to the very complex and often contradictory nature of her character, and the many opposing critical theories that have been written since her ‘death’ over 150 years ago. Flaubert’s determination to â€Å"remain outside of his book and to assume the role of a manipulator of marionettes† adds to this sense of mystery surrounding Emma Bovary, who is essentially a confused young woman, trapped in a stifling society who tries so desperately to be something she is not. She is a woman so fixated on creating the life she dreams of that she eventually self-destructs, a broken and dejected victim. Before discussing in detail the various elements of her personality, it is necessary to highlight the social position she is involuntarily placed in. This will in turn give rise to, and in many cases explanation for, the way in which she responds to various events in her life, and therein revealing her true colours. Emma is born a woman in France during the early 19th Century, and as such is doomed from the start to be a victim of the misogynistic bourgeoisie. As was the case for all women at the time, Emma was completely reliant on Charles to provide the quality of life she desired – and indeed her very identity – as she was not in a position that she could exercise such control herself. In marrying Charles, she ceased to exist as Mademoiselle Emma Rouault, and simply became Madame Charles Bovary, the doctor’s wife. Emma realised that she had blown her only chance to pursue the life she felt she deserved. â€Å"Pourquoi, mon Dieu! me suis-je marià ©e?

How to Grow Old

How to Grow Old Bertrand Russell In spite of the title,this article will really be on how not to grow old,which,at my time of life,is a much more important subject. My first advice would be to choose your ancestors carefully. Although both my parents died young,I have done well in this respect as regards my other ancestors. My maternal grandfather,it is true,was cut off in the flower of his youth at the age of sixty-seven,but my other three grandparents all lived to be over eighty. Of remoter ancestors I can only discover one who did not live to a great age, and he died of a disease which is now rare,namely,having his head cut off.A great-grandmother of mine,who was a friend of Gibbon,lived to the age of ninety-two,and to her last day remained a terror to all her descendants. My maternal grandmother,after having nine children who survived, one who died in infancy, and many miscarriage,as soon as she became a widow devoted herself to women’s higher education. She was one of the founders of Girton College,and worked hard at opening the medical profession to women. She used to relate how she met in Italy an elderly gentleman who was looking very sad.She inquired the cause of his melancholy and he said that he had just parted from his two grandchildren. â€Å"Good gracious,† she exclaimed, â€Å" I have seventy-two grandchild, and if I were sad each time I parted from one of them, I should have a dismal existence! † â€Å"Madre snaturale,† he replied. But speaking as one of the seventy-two,I prefer her recipe. After the age of eighty she found she had some difficulty in getting to sleep,so she habitually spent the hours from midnight to 3 a. m. in reading popular science. I do not believe that she ever had time to notice that she was growing old.This,I think,is the proper recipe for remaining young. If you have wide and keen interests and activities in which you can still be effective,you will have no reason to think about the merely sta tistical fact of the number of years you have already lived,still less of the probable brevity of your future. As regards health, I have nothing useful to say since I have little experience of illness. I eat and drink whatever I like,and sleep when I cannot keep awake. I never do anything whatever on the ground that it is good for health,though in actual fact the things I like doing are mostly wholesome.Psychologically there are two dangers to be guarded against in old age. One of these is undue absorption in the past. It does not do to live in memories,in regrets for the good old days,or in sadness about friends who are dead. One’s thoughts must be directed to the future,and to things about which there is something to be done. This is not always easy;one’s own past is a gradually increasing weight. It is easy to think to oneself that one’s emotions used to be more vivid than they are,and one’s mind more keen. If this is true it should be forgotten,and if it is forgotten it will probably not be true.The other thing to be avoided is clinging to youth in the hope of sucking vigor from its vitality. When your children are grown up they want to live their own lives,and if you continue to be as interested in them as you were when they were young,you are likely to become a burden to them,unless they are unusually callous. I do not mean that one should be without interest in them,but one’s interest should be contemplative and,If possible,philanthropic,but not unduly emotional. Animals become indifferent to their young as soon as their young can look after themselves,but human beings,owing to the length of infancy,find this difficult.I think that a successful old age is easiest for those who have strong impersonal interests involving appropriate activities. It is in this sphere that long experience is really fruitful, and it is in this sphere that the wisdom born of experience can be exercised without being oppressive. It is no use t elling grown-up children not to make mistakes, both because they will not believe you, and because mistakes are an essential part of education. But if you are one of those who are incapable of impersonal interests, you may find that your life will be empty unless you concern yourself with your children and grandchildren.In that case you must realize that while you can still render them material service, such as making them all allowance or knitting them jumpers, you must not expect that they will enjoy your company. Some old people are oppressed by the fear of death. In the young there is a justification for this feeling. Young men who have reason to fear that they will be killed in battle may justifiably feel bitter in the thought that they have been cheated of the best things that life has to offer.But in an old man who has known human joys and sorrows, and has achieved whatever work it was in him to do, the fear of death is somewhat abject and ignoble. The best way to overcome it — so at least it seems to me — is to make your interests gradually wider and more impersonal, until bit by bit the walls of the ego recede, and your life becomes increasingly merged in the universal life. An individual human existence should be like a river — small at first, narrowly contained within its banks, and rushing passionately past boulders and over waterfalls.Gradually the river grows wider, the banks recede, the waters flow more quietly, and in the end, without any visible break, they become merged in the sea, and painlessly lose their individual being. The man who, in old age, can see his life in this way, will not suffer from the fear of death, since the things he cares for will continue. And if, with the decay of vitality, weariness increases, the thought of rest will be not unwelcome. I should wish to die while still at work, knowing that others will carry on what I can no longer do, and content in the thought that what was possible has been done . (from Portraits from Memory and Other Essays)

The Effects Of Alcohol On Alcohol Abuse - 1965 Words

As of January 2015 alcohol related deaths were represented as accountable for approximately 6% of deaths worldwide. That is 3.3 million deaths from alcohol related car accidents to alcohol poisoning. The consumption of alcohol can be tied with being a factor in a variety of diseases, disabilities, tragedies, and crimes. An estimate of over 76 million people suffer from alcohol dependence and abuse. Consumption of alcohol can become a serious threat to personal and public health when an individual engages in activities such as binge drinking or drinking while driving. In other words, harmful drinking is anytime an individual becomes unable to have full perception and control of his/her surroundings because of alcohol. Harmful drinking can also be defined as a pattern of alcohol consumption causing health problems that are directly connected to alcohol. Underage drinking contributes to the 3 leading causes of death (unintentional injury, homicide, and suicide) among persons aged 12 to 20 years. Most commonly teens experience acute intoxication from binge drinking. On average, underage drinkers consume more drinks per drinking occasion than adult drinkers. In 2010, there were approximately 189,000 emergency rooms visits by persons under age 21 for injuries and other conditions linked to alcohol. The abuse of alcohol in teens around the world is a significant problem to our society for the safety of others and the younger generations. The issue at hand is whether establishing aShow MoreRelatedThe Effects Of Alcohol Abuse On Alcohol882 Words   |  4 Pagesme is alcohol. I often notice underage adolescents drinking and I also distinguish how they become different people when intoxicated by alcohol. They begin to walk funny and they tend to slur their words, making it hard to comprehend anything they are saying. I have watched family m embers who were so inebriated that they could not even spell their own name or even pinpoint who they were. The questions I always ask myself when I see these drunk college kids is â€Å"Do these kids know the effects of alcoholismRead MoreThe Effects Of Alcohol On Alcohol Abuse Essay1115 Words   |  5 Pages Dependance on alcohol has been around ever since its creation and records of writing existed. From Biblical commandments clearly restricting the drink due to its destructive and addictive nature to the celebrities on tv screens and music devices glorifying the substance, alcohol has always been part of various cultures. Being the number one drug problem in the U.S with over 12 million people reportedly being alcoholics and of those 7 million being binge drinkers between the ages 12-20, it comesRead MoreThe Effects Of Alcohol On Alcohol Abuse942 Words   |  4 PagesEveryday around the world people fail to realize the effects alcohol abuse can have on themselves as well as t heir loved ones. Alcohol can be highly addictive, and plague an individual s life. Individuals who suffer from alcohol abuse go through various withdrawal symptoms when attempting to cease from drinking alcohol. There are various methods alcohol abusers to quit using alcohol. For adults who abuse alcohol, achieving abstinence can be an arduous process that can be overcome with the perseveranceRead MoreThe Effects Of Alcohol On Alcohol Abuse941 Words   |  4 PagesEvery day around the world, people fail to realize the effects alcohol abuse can have on themselves as well as their loved ones. Alcohol is highly addictive, and can plague an individual s life. People who suffer from alcohol abuse go through various withdrawal symptoms when attempting to cease from drinking alcohol. There are various methods alcohol abusers to quit using alcohol. For adults who abuse alcohol, achieving abstinence can be an arduous process that can be overcome with the perseveranceRead MoreThe Effects of Alcohol Abuse1472 Words   |  6 Pagesdoing things they should not. Alcohol is one of those things. Alcohol is extremely easy to get ahold of. It can be attained from anywhere; there are bars and liquor stores on every corner. One can get alcohol in grocery stores, gas stations, people can even brew it themselves if they know how. Alcohol that is commonly abused comes in a large variety ranging from weaker alcohols like wine and beer to stronger substances like tequila and vodka. When one abuses alcohol it taints the minds of even theRead MoreEffects of Alcohol Abuse1616 Words   |  7 PagesAlcohol abuse The term alcohol abuse in this case encompasses harmful use of alcohol and misuse of alcohol resulting from dependence. The experience of alcohol abuse can have far-reaching consequences on the family, the community, and the nation. According to NIDA, drug and substance abuse costs the nation $600 Billion every year. This cost factors in crime, healthcare, and lost productivity. Alcohol accounts for 40% of this cost. It is, therefore, necessary, within the context of the family, toRead MoreEffects Of Alcohol And Drug Abuse919 Words   |  4 PagesImpact of Alcohol and Drug Abuse There may be some things that you don t know about the impact of drug and alcohol abuse on friends and family and how your friends and family may react to your choices. Having knowledge about alcohol and drug abuse, preventing toxic relationship with friends, and being informed about the consequences of drug and alcohol abuse can prevent the harmful use or consumption of drugs and alcohol. First and foremost, having knowledgeable information on the impact drugsRead MoreThe Effects Of Alcohol Abuse On The Family1518 Words   |  7 Pagesimpact this is having on her relationship with my mom and family. To say my step mom is an addict would truly be an understatement because of her need and crave for it each day. Unfortunately, alcohol abuse is not often taken serious and many people have a tough time understanding the effects of alcohol abuse on the entire family as opposed to just the abuser. Since Tina was a young age, she knew she was a lesbian and made it a point to hide this from her family and friends. She began to create aRead MoreEffects Of Alcohol Abuse On Children1698 Words   |  7 PagesAbstract The influence of alcohol advertising has been around for many years. People don’t understand the damage that alcohol abuse can cause and will cause if someone decides to start drinking on a regular. Often time’s people begin to drink because they are stressed and becomes a habit that one can no longer over come. Once down that road it is hard to recover, but if you are willing to recover there is always clinics and family that will help. Alcohol abuse and enslavement are enormous currentRead MoreCauses and Effects of Alcohol Abuse955 Words   |  4 Pagesinfluence of peers, family, society, the availability of alcohol, mental illness, stress, and not knowing how to cope with certain situations. It’s a common thing for an alcoholic to think drinking is the answer to all their problems, but in retrospect drinking is only adding to the multiple complications caused by being a compulsive drinker. Research has been done to explore the reason behind why people drink. However, â€Å"Exactly how alcohol affects the brain and the likelihood of reversing the