Social media in the health communication fields Research Paper

Social media in the health communication fields - Research Paper Example Information was flowing in one direction only, and even if there were replies they were not instant like in the case of the social media (Park, Rodgers and Stemmle, 2011). The social media has revolutionized the way people generate, disseminate and even appreciate information because of its unique abilities. First, it is device indifferent. As long as a person has internet access one can access the social media through different devices such as mobile phones, desktops, laptops, tablets and smart phones among others. The social media also enables communication in different perspectives, from one-to-one communication to one-to-many. Most importantly, the social media allows for real time communication and different levels of interactivity and engagement. These unique characteristics and capabilities have made the social media a popular media across the globe and across the different sectors of the global economy. The health sector is one of the sectors that have been influenced by the use of social media (OED, 2013). Here, the social media has revolutionized how people get health information and how health information is disseminated by health experts. The social media has proved to be a reliable media that is highly efficient in getting health-related information out. Currently, health messages are already forming a substantial part of messages being conveyed through the many social media platforms. This paper investigates the different ways the social media is being used in the health communication fields to disseminate information. The paper shows the influence this use of social media has on the people’s attitudes and knowledge as far as their health and health services are concerned. A research conducted in 2012 by Cogitamus about the use of social media in the health sector established that nearly 32% of the adults use the social media to communicate

Effective communication Essay Example for Free

Effective communication Essay Describe situations where you have effectively demonstrated each of the forms of communication mentioned Effective communication is an important part of my job role. On a daily basis I need to communicate with various different people. Firstly, I have to collect the information from various parts of our organisation, this is normally done over email, however on some occasions this requires further explanation and this would be done over the telephone or face to face. Once the information is prepared, I distribute this via emails, internally to the managers to review. Once this has been reviewed by the management team, I then distribute this externally to the client. What did you do to help communicate effectively? I send out the ‘raw data’ to the client each week, however I then send out a pack that summarises the figures in a clear and precise format. For the period review, the data is put into a PowerPoint presentation. The client gets a copy of the slides that we discuss. We discuss each meeting whether anything should be changed going forward. There have been occasions we have gone into more detail, and others where we have summarised as the client is happy with the figures behind this. How have your communication skills helped you to improve your performance elsewhere? The effective communication in this particular example has increased my confidence in certain areas. I also think that by asking for feedback regularly, I can ensure I am reporting exactly what people want to see in the formats they want too. I have applied this to other areas of my job role.

GM Holden Ltd Analysis

GM Holden Ltd Analysis Introduction GM Holden Ltd, commonly designated Holden, is an Australian automaker that operates in Australasia and is headquartered in Port Melbourne, Victoria. The company was founded in 1856 as a saddler manufacturer. In 1908 it moved into the automotive field, before becoming a subsidiary of the United States-based General Motors (GM) in 1931. After becoming a subsidiary of GM, the company was named General Motors-Holdens Ltd, becoming Holden Ltd in 1998—the current name was adopted in 2005. There is a high demand for Holden in New Zealand market. Market segmentation is a concept in economics and marketing. A market segment is a sub set of a market made up of people or organization with characteristics that cause them to demand similar products based on qualities of those products or as price. True market segmentation meets all of the following criteria: it is distinct from other segments (different segments have different needs), it is homogeneous within the segment (exhibits and comm on needs); it responds similarly to a market stimulus, and it can be reached by a market intervention. The term is also used when consumers with identical product needs are divided into groups so they can be charged different amounts. In this assignment the New Zealand market for Holden products is segmented to understand the customer needs and provide them with different kinds of Model and developing a marketing mix that will sustain the target market. In this study segmentation is analysed in four stages: Assess the potential for market segmentation. Apply market segmentation process. Determine positioning strategies for chosen segments. Relate market segmentation to the marketing mix. Question 1: Assess the potential for market segmentation. Examine the implication of market segmentation to determine precise targeting of marketing in terms of the needs, wants and behaviours of markets. Ans. Reference to use of resources: The resources in the business can be people, money, place etc. The main resource to run the business is people and money. There is a need of investment to start and run the business in a profitable way. People are also very important in the business without people we can’t start our business. Holden establish its business at that places from where they can get raw material very easily and reduce transport expenses. Understanding and meeting customer’s needs: It is very important to find out what the customers want. Firstly Holden identify the needs of the customers and then according to the need of the customers they made different models. Identification of competitor’s activities: To gain the competitive advantages, Holden collect information about the competitor’s activity, what they are doing in the market to do more sales like as Toyota, Hyundai, Mazda and many more. Evaluation of market performance by segments: Market performance is the amount of sale in a business. There are different groups in a business which gives different turnover in the market. So it is necessary to find the most suitable group providing the expected market performance. Identification of significant cultural influence: New Zealand is a multicultural country. The customer’s priorities are affected by his/her ethnic background. So it could not satisfy all the needs of the market of cultural groups at the same time. Therefore, Holden make necessary efforts in the market to attract different cultural groups. Question 2: Apply market segmentation processes. Identify segmentation bases for markets and include geographic, demographic, psychographics and behaviouristic usage. Ans: Holden No. Name of product Income segment Product usage and potential Segment size and growth Segment attractiveness Objectives and resources Competition 1 Commodore Above $35,000 Low 10 % Average Average Low 2 Captiva $20,000-$25,000 Medium 30% Very good Sufficient Medium 3 Cruze Below $20,000 High 60 % excellent Plenty High Commodore: People buy this model that have above $30,000 income. The competition of this model in the market is low as the price is very high. Due to high price the usage of this car is also very low. Segment size and growth is also very less. Captiva: The usage of this car is medium in the market as the price is affordable to middle class family. Income group between $20,000-$25,000 buy this car. The competition of this this car in the market is medium. Segment attractiveness is also good. Cruze: Most of the people prefer to buy this car. Below $20,000 income group buy this model. The usage of this car is very high in the market. The competition of this car is very high because the price is affordable. Objectives and resources of this car are plenty. Segment attractiveness is excellent. Question 3: Determine positioning strategies for chosen segments. 3.1 Select target market segments and apply segmentation strategies. Ans: Positioning: A marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer. Companies apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising. Once a brand is positioned, it is very difficult to reposition it without destroying its credibility. Undifferentiated Market: Sales-growth strategy that ignores market segment differences and attempts to appeal to all prospective customers with a single, basic product line through mass advertising and distribution. Differentiated Marketing: A sales growth strategy in which several market niches or population segments are targeted with different products for each niche or segment. Concentrated marketing: Growth strategy in which resources of a firm are focused on a well-defined market niche or population segment. Individualised Marketing: Any kind of communication to individuals by the companies or retailers can be termed as individual marketing. Individual marketing is often customized as per the individual customers. The demand can be directly communicated to the suppliers or manufacturers and they can be provided with customized products as per their demand. 3.2 Establish positioning variables for each target market segment and determine positioning strategies. Ans: Product Attributes: The HOLDEN produces all kind of vehicles, such as sports cars, luxury cars, sports utility vehicles and fuel efficient cars as well. These all are the product attribute. This provides a wide selection range to the buyers. That’s why, HOLDEN manufactures vehicles of all classes according to the demands of the people and their choice, in this way, the business can increase more value in the New Zealand market. Usage and Users: Usage is defined as the way that something is being used, or to the proper way to make use of something. In a market, it is very necessary to look into the usage of the products and the users. The use of the vehicles may vary according to the age group of users. The Holden made its product according to the different type of users. Such as luxury cars for elite class, sports racing cars for youngsters and fuel efficient cars for middle class. Product Class: Product class means that the group or range of products according to the class of people. For example, HOLDEN makes their cars to target the every class of society. They make cars from 1500-2000cc up to 7000cc sports cars. They are classified into different people according to their income, and class. Customer Needs and Benefits: It is very important in the automobile industry that the cars which are available for users are satisfying their needs and providing the benefits to them. That means the car which is purchased by customer is fulfilling his requirements and putting no additional pressure of maintenance cost on buyer. Competition: Holden have a lot of competitors in NZ automobile market. Everyone introduce cars with better features and affordable prices. So, it is necessary for HOLDEN to build such type of cars which are able to compete with the rival companies. It’s also very important to keep the price of newly built cars in the reach of customers. Cultural Factors: Culture is the most basic reason is that effects person’s choice while buying a vehicle in New Zealand. New Zealand is a multicultural country, so they need to make the cars for satisfying needs of all ethnic groups. Like, the people from Asian countries are always show interest to buy cars from Asian manufacturers because they are less costly as compared to other brands. This factor also effects the sale of Holden’s vehicles. Question 4: Relate market segmentation to the marketing mix. 4.1 Assess the implications of market positioning strategies for marketing mix decisions in terms of organisational marketing objectives. Ans: Marketing Mix: The marketing mix is a business tool used in marketing and by marketing professionals. The marketing mix is a planned mix of the controllable elements of a product’s marketing plan commonly terms such as, Price, Product, Place and Promotion. Product: In every business, quality product is the main factor for running a business. So if the products are not qualitative enough, then there is more probability of losing the customer but if we have qualitative product, then more customer’s gets attracted and there will be more sale. Hence, qualitative product for the customers helps to make more profit in a business. As our Company is Holden, our products must meet that standard. All the customers must feel they are getting more than they paying. Price: If the price of the Holden cars are affordable and economic, and if there are more models and offers then it’s obvious the sales will increase. If the price doesn’t worth then people buy other brands of car because the competition is more in the NZ market so it will effect on the business. Promotion: To run the business, it is very necessary to do the promotion of the newly cars. There are various ways to promote the business such as give advertisements of the different models of cars. In this ways, we can create good picture of our product in different style into people’s mind. Place: In the car business, it is essential to choose the right place for the business to run successful. If the place is not suitable then no one will go there and buy. We should establish our car business in the city where people can see upcoming models. And can buy and fulfil their needs. 4.2 Recommend monitoring mechanisms for market positioning strategies according to strategic marketing plans. Ans. Plan Control: The Plans are done by the top and middle management to get the annual report of the results whether the results are achieved or not. With the help of plan control, one can compare the actual plans with the standard plans to get the variance between them and also it provides the sales and market share analysis. Feedback: we need to get feedback from our customers whether the like our new models or not. If not which feature they don’t like or what feature should include according to them. From the feedback we can know the need of the customers. Survey: in this survey there are questions and you needed to tick or give yes or no according to the customers need. From the question given in the survey we can find out the actual needs of the customers like any new features etc.

A Civil Engineering Success :: essays research papers

Civil Engineering History and Heritage U.S. 20 Iowa River Bridge   Ã‚  Ã‚  Ã‚  Ã‚  The Iowa River Bridge on Highway U.S.20 was built in such a way that it not only was able to expand the once two lane blacktop roads into a four lane highway, but also to keep environmental impacts of construction and existence of the bridge to a minimum. The $21 million dollar bridge consists of two 12.0 m wide deck structures that each contain five spans of 92 m. These deck structures are made from erecting a weathering steel I-Girder superstructure. â€Å"Each deck structure will consist of a 230 mm concrete slab with a 38 mm low-slump concrete wearing course supported by a system of four 3450 mm deep I-girders spaced at 3600 mm centers†(1). The support for these structures will be cast-in-place reinforced concrete substructure units. These units consist of two column bents ranging in heights of 20 m to 38 m, and are founded on drilled shafts or driven H-Piles. Engineering Success   Ã‚  Ã‚  Ã‚  Ã‚  The construction method used on this bridge is the first of its kind in the United States on a steel I-girder highway. The bridge was constructed by a launch erection method in order to avoid damaging its surroundings. This method allowed for large steel portions of the structure to be assembled on large rollers behind one of the bridge abutments and then pushed from pier to pier with the use of hydraulic thrusts (or pulling with motors and cables). This area is one of few woodlands left in Iowa, and by doing intensive research Engineers were able to obtain their goal while leaving as much of the natural surroundings unaffected as possible. Lessons Learned   Ã‚  Ã‚  Ã‚  Ã‚  As stated earlier, this was the first use of this construction method and therefore a lot of lessons came from this erection of this bridge. Among these were mostly environmental concerns. The reason this method was necessary is due to all of the environmental concerns through the Iowa Greenbelt, which is home to a number of endangered animals, plants and aquatic life. Another aspect of the bridge that the environmental issues affected was the timeline. This included a â€Å"winter shut-down† for a little over 5 months due to the eagle’s roost, as well as the need to shut down any time noise or activities seemed to disrupt the eagles roosting habits.

George Alagiah’s Passage To Africa Essay

In a passage to Africa George Alagiah conveys his feelings about journalism during the course of his stay in Somalia through the use of various different language and literary devices. In a passage to Africa George Alagiah uses powerful and emotive language to show is views about journalism. An example of this is shown in the quotation: ‘that went beyond pity and revulsion’ , ‘revulsion’ has strong connotations of horror and disease so it marked the reader sympathise with the nature of the terrible scene that Alagiah is encountering in the village which he is observing. Another quotation that shows this is: ‘normally inured to stories of suffering, accustomed to the evidence of deprivation’, this quotation shows the way that Alagiah is hardened by the experiences that he has faced through the word ‘inured’ meaning immune to in conjunction with the words ‘suffering’ and ‘deprivation’, both of which have extensive connotations of evil and terrible hardship on those that it refers to, overall showing that Alagiah was steadfast to the other horrors that were unfolding around him and that the event he had just witnessed ahs managed to break his immunity of disconnection between him and the subject of his journalism. These quotations all show that Alagiah used emotive and powerfully connotated words to show the disconnection and connections with the journalist and subject. In the text Alagiah also uses a variety of sentence structures to show his views an observational journalist. An example of this is: ‘I saw that face for only a few seconds, a fleeting meeting of eyes’, the use of the above sentence structure shows that this very brief moment had deeply impacted Alagiah’s views on the way that he considered his role as a passive observer. Another example of this is the quote: ‘normally inured to stories of suffering, accustomed to the evidence of deprivation’, the way that the sentence is structured shows that Alagiah is meaning to portray a list to show how he feels about the way that a journalist can be susceptible to becoming accustomed to the terrible scenes that are unfolding before there eyes. In ‘a passage to Africa’ Alagiah uses a range of literary devices to show how he feels about journalism. An example of his use of literary devices on the following quotation: ‘If he was embarrassed to be weakened by conflict and ground down by hunger, how should I feel standing there so strong and confident?’, this reflective anecdote shows that as Alagiah is  there he is still reflecting on the way that he is so content and nourished while the people he is standing amongst are suffering terribly. Another example of literary devices in the quotation: ‘what was it about that smile?’, this rhetorical question shows how Alagiah is inquisitive into the thinking of the people he observes. These literary devices show his beliefs about journalism through the way he writes his reports. In conclusion is a passage to Africa George Alagiah uses a variety of language, sentence structures and literary devices to show his beliefs about journalism and the re lationship between him and the people he writes about.

Definition and Examples of Persiflage in English

Definition and Examples of Persiflage in English Definition Persiflage is a light, flippant, and/or mocking manner of speech or writing. Also called banter, idle chatter, or small talk. Philip Gooden describes persiflage as a variant on banter. It doesnt add much to that word or other English equivalents and has a slightly twee or over-literary quality (Faux Pas: A No-nonsense Guide to Words and Phrases, 2006) See Examples and Observations below. Also see: ConversationParodySarcasmSnarkVerbal Irony EtymologyFrom the Latin, whistle talk   Examples and Observations Persiflage is speech or writing with tongue in cheek. It combines irony, levity, and paradox, treating trifles as serious matters and serious matters as trifles.(Willard R. Espy, The Garden of Eloquence: A Rhetorical Bestiary. Harper Row, 1983) Lord Chesterfield on Persiflage- There is a certain jargon, which, in French, I should call un Persiflage dAffaires, that a foreign Minister ought to be perfectly master of, and may be used very advantageously at great entertainments, in mixed companies, and in all occasions where he must speak, and should say nothing. Well turned and well spoken, it seems to mean something, though in truth it means nothing. It is a kind of political badinage, which prevents or removes a thousand difficulties, to which a foreign Minister is exposed in mixed conversations.(Philip Dormer Stanhope, Lord Chesterfield, letter to his son, January 15, 1753)- Persiflage. Lord Chesterfield, in a letter of 1757, was the first to use this word in English. Upon these del icate occasions you must practice the ministerial shrugs and persiflage. Hannah More in 1779 presented the feminine attitude toward the cold compound of irony, irreligion, selfishness, and sneer, which make up what the French . . . so well express by the word persiflage. Carlyle, in Heroes and Hero-Worship (1840), said of Voltaire: They felt that, if persiflage be the great thing, there never was such a persifleur.(Joseph T. Shipley, The Origins of English Words: A Discursive Dictionary of Indo-European Roots. John Hopkins University Press, 1984) Persiflage in Women in LoveI think you are very silly. I think you want to tell me you love me, and you go all this way round to do it.All right, he said, looking up with sudden exasperation. Now go away then, and leave me alone. I dont want any more of your meretricious persiflage.Is it really persiflage? she mocked, her face really relaxing into laughter. She interpreted it, that he had made a deep confession of love to her. But he was so absurd in his words, also.(D.H. Lawrence, Women in Love, 1920) The Persiflage of Bruce WillisI remember when they told Sylvia Plath, Hey, Syl, cheer up! I remember when they told e. e. cummings, e, baby; use caps! But did ol e listen? No. Little n. Little o.(Bruce Willis as David Addison in Moonlighting, 1985)Hans Gruber: I thought I told all of you, I want radio silence until further . . .John McClane: Ooooh, Im very sorry, Hans. I didnt get that message. Maybe you shouldve put it on the bulletin board. Since Ive waxed Tony and Marco and his fri end here, I figured you and Karl and Franco might be a little lonely, so I wanted to give you a call.Karl: How does he know so much about . . .Hans Gruber: Thats very kind of you. I assume you are our mysterious party crasher. You are most troublesome, for a security guard.John McClane: Eeeh! Sorry Hans, wrong guess. Would you like to go for Double Jeopardy where the scores can really change?Hans Gruber: Who are you then?John McClane: Just a fly in the ointment, Hans. The monkey in the wrench. The pain in the ass.(Alan Rickman, Bruce Willis, and Alexander Godunov in Die Hard, 1988) Barbershop PersiflageBuddy Litethe barbershop barfly who’s still lounging in his porkpie hat and violating the rule posted on a sign stating No jibber jabberpauses the persiflage to become sentimental.You see, what John doesn’t tell you is that all this is the sideshow, he says. The real museum here is the people.(Luke Jerod Kummer, In Pennsylvania, a Haircut to Remember. The Washington Post, February 25, 2011) Persiflage in FilmExcessive stylistic devices offer possibilities for shifting the status of the film narrative when the plot becomes secondary to persiflage, parody, and/or self-reflexive commentary. Only by recognizing the possibility of such a shift can stylistic devices such as excessive use of voice-over or pompous referencingwhich seem annoying because they hamper the progress of the storybe properly evaluated.(Peter Verstraten, Film Narratology: Introduction to the Theory of Narrative. Trans. by Stefan Van Der Lecq. University of Toronto Press, 2009) Pronunciation: PUR-si-flahz

Moving from prescribing medications by brand name to INN The WritePass Journal

Moving from prescribing medications by brand name to INN Abstract Moving from prescribing medications by brand name to INN ). As a result of the new changes in the medical practises, there are resulting gaps between the prescription options based on evidence, and the usual practises in most clinics. For example, other than the common error of under dozing and over dozing, the prescribers may occasionally give particular medicines for wrong conditions. Biological Medicines and Biosimillar medicines The biological medicines are also referred to as biologics, and consist of organic compounds made through biotechnological mechanisms. The biologics appeared for use in the 1980s, and have since then advanced to bring improvements in the treatment of many diseases. Their uses as alternative medicine have revolutionized the treatment of diseases, which has led to the improvement of health status across billions of people in the world. Consequently, this category of drugs has become popular since their introduction, a process whose end has seen the diminishing power of the original biological medicine. There are many manufacturing companies, who have acquired the permission to manufacture similar brands of the original biological medicine, commonly trending the medical market as biosimillar medicines. As a result of the existing complexity in the process of manufacturing the original medicine, the biosimillar medicines do not qualify for the generic class of medicine (Dylst, Vulto Simoens, 2013). This is mainly due to the fact that this category is not typically identical to the original medicine. There are concerns regarding the authenticity and the effectiveness of the process of differentiating between such biosimillar medicines and the original biological medicines. These concerns are based on the extents of similarities observed when such drugs are used, as compared to the original biological medicines. For example, under same conditions of a particular patient, when a biosimillar is compared with Infliximab, the uses of biosimilars have manifested the same therapeutic efficacy, as well as the incidences of drug related events. In addition to the similar levels of therapeutic efficacy, biosimilars are equally tolerated by the body system, and also comparable in terms of their safety issues. It is the complexity in their manufacturing processes, in tandem with safety concerns that the ongoing monitoring derives its basis (Declerck Simoens, 2012). Concerns regarding the use of biosimilar drugs The concerns rose over the issues relating to safety, efficacy and the cost of using the biosimilars have resulted into the urgent need for a change of prescription method from the initial brand name to the use of active ingredients. This is because of the compromise of such brands, in which certain biosimilars do not recognize the copied brands, and thus creating confusion. The key concern that has been raised through the Pharmacovigilance involves the criteria wit which one can use to draw a line between the original biological medicine and the biosimilar medicines. There are a plethora of biosimilar medicines that after manufacturing have been approved by the European Medicines Agency. Such approvals have derived their bases on the abbreviated programs, in which the manufacturing process was purely based on copying the formula of those biological medicines already in the market. Some of these biosimilar medicines in this category exist in the market, despite lack of approval by the regulatory bodies, under the legal regulatory frameworks within Europe. Their lack of approval has therefore led to the ultimate doubt about the validity of such medicines, especially the possibility of adverse reactions occurring as side effects. The cost of purchasing the biosimilar medicines has also raised major concerns in the pharmaceutical industries in the Europe, just like other parts of the world. The relative low cost of acquiring such medicines has led into a perception by many people, that the existence of cheaper alternatives could be derailing the development of the industry. Consequently, there is an increase of pressure to prescribe the cheaper and new alternatives among patients, who may not afford the original biological medicines. Furthermore, such pressures have led to the increased use of such alternatives without any critical attention paid to the criteria of prescription and application of brand names. Transition from the drug brand name to the INN system of drug prescription The recent decades have been epitomised by a major burden of chronic diseases, not only among the European member states, but also across the globe. In order to curb the ever growing menace of such diseases among populations, the concerned authorities such as the World Health Organization, through respective governments have had to act. The chief aim of such action by the WHO, through respective governments have been to facilitate, and enforce laws to ensure that all professional health workers and patients access the safest, high quality, modern and affordable medicine to improve the health status of their people. Biomedical studies over time have identified the biological medicines as one of the most effective categories of medicine that can meet this criterion. However, the main challenge in the provision of such biological medicine has been manifested on the means of identification by both patients and pharmacists during prescription. Surveys have further pointed out that the method of prescription plays a pivotal role in limiting the resulting confusion during the identification of drugs from place, particularly from one country to another within Europe (CDC, 2012). For instance, over the recent decades, the method of prescription has been based on the brand name. There are a number of factors that determine the brand name for a particular medicine, such as the location or trans-border movements within Europe. Such variation   have therefore been a core ingredient in breeding the much confusion when prescribing drugs from one place, especially for patients who may be new in such places. A particular brand name for a medicine used at one point may either be unfamiliar, or used for a different medicine in another place (Rotenstein et.al, 2013). Consequently, the need for a more standardised system of naming and prescribing drugs across the globe, including the European member states becomes an indispensible discourse. The European member states, in tandem with the world, have therefore joined the movement from prescribing medications by brand name to the INN International Nonproprietary Name (INN). Currently, there is a legislation process, whose purpose is to prevent doctors from brand prescription, but rather an active ingredient in the medicine, to allow easy determination by the patient. The International Nonproprietary Name (INN) The International Nonproprietary Name is a special term in healthy sciences and medicines, which is given to pharmaceuticals for purposes of easy identification. Having been initiated by the World Health Organization, the INN system of identification began to operate in 1953, for the benefit of not only the health workers such as pharmacists, but also help patients identify their medication with ease. The ease of identification was based on the common aim of the system for the generation of convenient common names for the existing pharmaceutical substances. In this case, each name generated under this system becomes unique for a global recognition of the substance as a public property. Consequently, the INN given to each pharmaceutical can have wide uses for the manufacturers and users, as well as the process of generic prescription in studies regarding drug use (CDC, 2012). The use of the International Nonproprietary Name in the drug prescription process functions to harmonise the communication regarding the medical activities among health professionals, drug consumers and patients. As a result, this system helps to prevent potential occurrence of medication errors. A medication error refers to any resulting misconception in the processes of drug prescription, dispensation, administration as well as monitoring the use of a particular drug. Medication errors are a major cause of most adverse reactions in patients, whose prevention can easily be achieved through accurate use of the relevant drugs. The accuracy can also be achieved through a process of synchronization, in which a single drug can retain a single identification from one place to another. A prescription method, based on the active ingredient as the common component of a particular drug, such as the INN system, has been enforced through a new legislative body referred to as the European Union Pharmacovigilance Legislation. Pharmacovigilance is a process, which consists of scientific activities of detecting, conducting an assessment of the adverse risks, understanding, and the establishment of potential prevention measures for the resulting adverse reactions (CDC, 2012). The European Medicines Agency Responsibilities The chief responsibility of the European Medicines Agency is to obtain and report the relevant data regarding adverse drug reactions, resulting from medical errors. Such reports are gathered and submitted to the Eudravigilance, a database that stores all the relevant data for medical errors among the European member states. Moreover, the database system is designed in such a way that it does not only receive the relevant information on adverse drug reaction, but also processes, stores and avails upon demand, the stored information after electronic submission.s The database run by the European Medical agency also permits users to conduct a critical analysis of the data herein, and enables one t make accurate conclusions regarding the data collected in determining the prevailing medical trends in different regions of Europe (Declerck, Simoens, 2012). In the modern system, there are legislative measures, which ensure that the data regarding medicines are stored and undergo general processing, during which drugs should maintain a standard description using the active ingredient, other than the initial brand name. In addition to the data reception, storage, and analysis through the Eudravigilance database, the legislative body also has a role of coordination among the European member states. The coordination role between different medicine regulatory authorities across Europe also involves all the individual Pharmacovigilance centres, as well as the patient safety authorities. The main aim of this role is to ensure that there is mutual flow of relevant information among the member states, so as to enhance communication of the occurrence of adverse drug reactions. The Pharmacovigilance Risk Assessment Committee (PRAC) is also a legislative committee charged with a duty of offering the requisite recommendations for all medicine regulatory frameworks within the EU (Allen Ansel, 2013). The recommendations made by the Pharmacovigilance Risk Assessment Committee function to enhance further safety issues, resulting from inappropriate use of medicines in various regions across the member states (O’Connor, Gallagher O’Mahony, 2012). While formulating these recommendations, the committee takes into considerations, including risk management issues, to monitor the extent of effectiveness, with which various mechanisms help to eradicate the occurrence of medication errors and adverse drug reactions. Role of a Pharmacist in Determining a Drug Prescription Pharmacists have the most critical role in determining the type or brand of medication to prescribe. This is because they are the base of the powers for dispensing the drugs for patients, in a normal clinical routine (Gibberson et.al, 2013). When lack of professionalism occurs in the dispensation of medicines for patients, there are higher chances of adverse medical reactions resulting from medical errors. Each year, the occurrence of medical errors, emanating from inappropriate prescription and dispensation of medicines by unprofessional pharmacists has caused harm to at least 1.5 million people. Furthermore, the loss incurred in terms of the cost of treating the injuries caused in hospitals runs at higher levels of at least $3.5 Billion each year. However, these cost estimates do not take into account the additional cost in terms of the extra wages and salaries incurred while causing and correcting such messes (Spinewine, Fialov Byrne, 2012). Throughout history, pharmacists have played a pivotal role in ensuring an improved patient health through appropriate prescription and dispensing of the right brand of medicine. Through improved disease management techniques and therapy practises, effective spending in healthcare activities, and enhanced adherence leads to improved quality of life (Haga et.al, 2013). In order to influence the brand of medicine to prescribe for a particular patient, the pharmacist should acquire a deeper comprehension of the patients’ medical condition. Most often, the pharmacist relies entirely on the information obtained from the technician, which helps them provide additional base for the patient’s safety (O’Connor, Gallagher O’Mahony, 2012). In order to obtain the required accuracy, it is important for the technician to observe strict adherence to the system based procedures when obtaining the information regarding a patient’s medical condition. In cases where the technician experiences unusual or any form of abnormalities, it is their responsibility to inform the pharmacist, to enable them prescribe and dispense the right brand of medicine (Allen Ansel, 2013). The Scope of Practise in Pharmacy The scope of practise for different pharmacists varies from one country to another, depending on the prevailing state laws. The governing board of pharmacy also plays a pivotal role in determining the extent to which professional pharmacists can exercise their powers, and ability to influence the type of prescription. There are sets of regulation in various countries, which permit the pharmacists to exercise their powers as professional within specific areas within the medical care system (Law et.al, 2012). On the other hand, other countries have laws that encourage a broader approach to service delivery within the medical service delivery. The pharmacist may therefore take part in different parts of the medication, ranging from diagnosis, prescription, drug dispensation as well as monitoring. The pharmacist therefore has a wide range of options and opportunities, during which they can influence the prescription of a given medicine (Abood, 2012). Job Satisfaction Job satisfaction is another aspect of enabler, through which pharmacists acquire an opportunity to influence the prescription. In the modern world of health care system, the practise of pharmacy has advanced from the initial practise of dispensing medicine and offering counselling sessions to offering more detailed clinical patient care services. In cases where a pharmacist meets restraining conditions in which they are unable to offer a wider spectrum of services to their patients, they often lack satisfaction from their jobs (Allen Ansel, 2013). Eradication of fraudulent prescription The main source of medical errors often emanate from fraudulent prescriptions, some of which are out of human intervention, while the rest may be unintentional. In order to take control of the process and make the relevant decision regarding the prescription, pharmacists should understand what constitutes fraudulent practises and work towards eradicating them. Fraudulent prescriptions are caused by legitimate practises, in which patients decide to make alterations to their prescriptions to suit their personal interests (Declerck Simoens, 2012). In such cases, the patient may show preference for a particular brand of medicine, and insist that they be treated with the same. In other experiences, patients may also alter prescriptions depending on the cost incurred, in which they either opt for cheaper brands, or prefer more expensive brands due to their perception of higher quality and efficacy. A pharmacist may use their influence in such cases to discover the fraud and alter the prescription, and dispense the right medicine depending on the patient’s conditions (Cornes, 2012). In addition to cases of alteration, pharmacists also have the technical and professional skills to discover the validity of prescription pads. One of the most conspicuous methods of identifying the validity of such prescription pads may involve subjecting the contact information to a rigor of scrutiny, to determine if they bear the name of the bearer. Such details may include the surnames, contact phone number as well as the registration number (Campanelli, 2012). Professionally, stealing a prescription pads translates into an automatic medical error and a potential adverse reaction. In situations where the pharmacists discover such anomalies, there are a number of professional measures that can be employed to influence the brand of medication prescribed and dispensed. Pharmacists ensure that they apply strict rules, in which only the state authorised individuals or prescribers can write prescription orders. The state authorized person is defined by the state a trained physician, dentist, veterinarian, podiatrist, as well as other state registered practitioners. For instance, there are states with strict rules in which other health professionals such as physician assistants and nurses to participate in conducting prescriptions under supervision or instruction by the pharmacist in charge. Similarly, other states also permit a sense of autonomy for the mid-level practitioners (Law, et.al, 2012). The pharmacist therefore has a duty to understand the prevailing laws regarding the state provisions on drug prescription, before determining one. This helps them avoid cases of assumption, in which they perceive that every prescription given for the controlled substances is inappropriate. A pharmacist who obtains a prescription whose validity attracts signs of doubt or appears invalid in any way, it is professional to undertake affirmative steps aimed at establishing the authenticity of the prescription holder (Cornes, 2012). In cases where the pharmacists have doubts about the contact information, they may have to use the prescriber’s contact office, other than the patients contact information. A telephone call to the office creates an additional time in the prescription process, during the concerned parties may address the gaps in the existing prescription. This way, the pharmacist not only gets a chance to influence the types of medication prescribed, but also adheres to t he legal requirements, including state laws regarding the use of drugs. References Abood, R. R. (2012). Pharmacy practice and the law. Jones Bartlett Publishers. Allen, L. V., Ansel, H. C. (2013). Pharmaceutical dosage forms and drug delivery systems. Lippincott Williams Wilkins. Campanelli, C. M. (2012). American Geriatrics Society Updated Beers Criteria for Potentially Inappropriate Medication Use in Older Adults: The American Geriatrics Society 2012 Beers Criteria Update Expert Panel. Journal of the American Geriatrics Society, 60(4), 616. Centers for Disease Control and Prevention (CDC. (2012). CDC grand rounds: prescription drug overdoses-a US epidemic. MMWR. Morbidity and mortality weekly report, 61(1), 10. Cornes, P. (2012). The economic pressures for biosimilar drug use in cancer medicine. Targeted oncology, 7(1), 57-67. Declerck, P. J., Simoens, S. A. (2012). European perspective on the market accessibility of biosimilars. Biosimilars, 2, 33-40. Dylst, P., Vulto, A., Simoens, S. (2013). Demand-side policies to encourage the use of generic medicines: an overview. Expert review of pharmacoeconomics outcomes research, 13(1), 59-72. Garcà ­a-Gollarte, F., Baleriola-Jà ºlvez, J., Ferrero-Là ³pez, I., Cruz-Jentoft, A. J. (2012). Inappropriate drug prescription at nursing home admission. Journal of the American Medical Directors Association, 13(1), 83-e9. Gibberson, R. A. D. M., Yoder, C. D. R., Lee, C. D. R. (2012). Improving Patient and Health System Outcomes through Advanced Pharmacy Practice. A Report to the US Surgeon General. University of the Incarnate Word Pharmacy Review, 1(2). Haga, S. B., Burke, W., Ginsburg, G. S., Mills, R., Agans, R. (2012). Primary care physicians knowledge of and experience with pharmacogenetic testing. Clinical genetics, 82(4), 388-394. Law, M. R., Ma, T., Fisher, J., Sketris, I. S. (2012). Independent pharmacist prescribing in Canada O’Connor, M. N., Gallagher, P., O’Mahony, D. (2012). Inappropriate Prescribing. Drugs aging, 29(6), 437-452. Rolland, Y., Andrieu, S., Crochard, A., Goni, S., Hein, C., Vellas, B. (2012). Psychotropic drug consumption at admission and discharge of nursing home residents. Journal of the American Medical Directors Association, 13(4), 407-e7. Rotenstein, L. S., Ran, N., Shivers, J. P., Yarchoan, M., Close, K. L. (2012). Opportunities and Challenges for Biosimilars: Whats on the Horizon in the Global Insulin Market?. Clinical Diabetes, 30(4), 138-150. Spinewine, A., Fialov, D., Byrne, S. (2012). The role of the pharmacist in optimizing pharmacotherapy in older people. Drugs aging, 29(6), 495-510.

US and Mexico Border Fence Pros and Cons

US and Mexico Border Fence Pros and Cons The southern border of the United States shared with Mexico spans almost 2,000 miles. Walls, fences, and virtual walls of sensors and cameras monitored by the U.S. Border Patrol are already built along one-third of the border (approximately 670 miles) to secure the border and cut down on illegal immigration. Americans are split on the border barrier issue. While most people are in favor of increasing the security of the borders, others are concerned that the negative impacts do not outweigh the benefits. The U.S. government views the Mexican border as an important part of its overall homeland security initiative. Cost of the Border Barrier The price tag currently sits at $7 billion for border fencing and related infrastructure like pedestrian and vehicle fencing with lifetime maintenance costs expected to exceed $50 billion. The Trump Administration and Mexican Border Enhancement As a major part of his platform during the 2016 presidential campaign, President Donald Trump called for the construction of a much larger, fortified wall along the entire 2,000-mile-long Mexico–United States border, claiming Mexico would pay for its construction, which he estimated at $8 to $12 billion. Other estimates brought the cost of the wall closer to $15 to $25 billion. On January 25, 2017, the Trump administration signed a Border Security and Immigration Enforcement Improvements Executive Order to commence the building of the border wall. In response, Mexican President Enrique Peà ±a Nieto said his country would not pay for the wall under any circumstances and canceled a scheduled meeting with Trump at the White House, seemingly straining relations between the two presidents. With the possibility of Mexico paying for any part of the wall  apparently off the table, the Trump administration used existing funds to begin construction of a small section of the new wall, along with improvements to existing sections of the wall in early March 2018. On March 23, 2018, President Trump signed an omnibus government spending bill dedicating $1.6 billion to the construction of the remainder of the wall. As he signed the bill, Trump referred to the $1.6 billion as â€Å"an initial down payment† on the estimated nearly $10 billion needed to fence the entire border. The funds  will pay for construction of about 25 miles (40 kilometers) of a new wall along levees in the Texas Rio Grande Valley, as well as repair and upgrades to existing walls and anti-vehicle devices.   The Great 2019 Border Wall Government Shutdown The issue of the border barrier, and especially the politics behind it, escalated dramatically in January 2019, when Congress refused to include $5.7 billion requested by President Trump for the construction of steel border fencing in a bill funding the operations of nine of the 15 federal executive branch agencies. On December 22, 2019, the resulting stalemate between the White House and the now Democrat-controlled House resulted in what, by January 12, had become the longest lasting government shutdown in U.S. history. On January 8, President Trump, calling the situation on the Mexican border a â€Å"humanitarian crisis,† threatened to declare a national emergency, allowing him to go around Congress by ordering the use of already allocated funds for construction of the border barrier. In a letter to Congress, the White House Office of Management and Budget estimate that the funds requested by President Trump would allow for the construction of about 234 miles of steel fencing to be added to what was by then the 580 miles of barrier already in place at a cost of around $24.4 million per mile, exclusive of ongoing maintenance. While the resulting 814 miles of barrier  fencing would leave approximately 1,140 miles of the 1,954-mile long border still free of barriers, the Department of Homeland Security had earlier stated that not all of the remaining border needed to be fenced. Border Patrol officials suggested that the inherent dangers of trying to cross rugged, desolate desert areas on foot made fencing unnecessary. On January 19, Democrats rejected another immigration reform and border security package offered by President Trump, refusing to negotiate until and unless he ended the government shutdown. On February 15, 2019, President Trump signed a compromise Homeland Security spending bill providing $1.375 billion for 55 miles of new border fencing. The same day, he made good on his threat to declare a national emergency to build the wall. Under the terms of the emergency proclamation, $3.5 billion was redirected from the Defense Department’s military construction budget to the construction of new border wall. In addition, he used executive orders to redirect another $3.1 billion from the Departments of Defense and Treasury’s drug interdiction programs to wall building. White House officials said the combined money would pay for at least 234 miles â€Å"of new physical barrier† along the border. While no further details were provided, President Trump stated in a Twitter post on March 8, 2019, that, â€Å"The Wall is being built and is well under construction.† History of the Border Barrier In 1924, Congress created the U.S. Border Patrol. Illegal immigration increased in the late 1970s, but it was in the 1990s when drug trafficking and illegal immigration had a major uptick and concerns about the nations security became an important issue. Border Control agents and the military succeeded in reducing the number of smugglers and illegal crossings for a period of time, but once the military left, activity again increased. After the September 11 terrorist attacks in the U.S., homeland security was again a priority. Many ideas were tossed around during the next few years on what could be done to permanently secure the border. And, in 2006, the Secure Fence Act was passed to build 700 miles of double-reinforced security fencing in areas along the border prone to drug trafficking and illegal immigration. President Bush also deployed 6,000 National Guardsmen to the Mexico border to assist with border control. Reasons for the Border Barrier Historically, policing borders has been integral to the preservation of nations around the globe for centuries. The construction of a barrier to safeguard American citizens from illegal activities is considered by some to be in the  best interest of the nation.  The pros of a border barrier include overall homeland security, the cost of lost tax revenue and strain on government resources and the past successes of border enforcement. Rising Cost of Illegal Immigration Illegal immigration  is estimated to cost the United States millions of dollars, and according to Trump, $113 billion a year in lost income tax revenue. Illegal immigration is considered a strain on government spending by overburdening social welfare, health, and education programs. Border Enforcement Past Success The use of physical barriers and high-tech surveillance equipment increases the probability of apprehension and have shown some success. Arizona has been the epicenter of crossings by illegal immigrants for several years. In one year, authorities apprehended 8,600 people trying to enter the U.S. illegally in the Barry M. Goldwater Air Force Range used for air-to-ground bombing practice by Air Force pilots. The number of people caught crossing San Diegos border illegally has also dropped dramatically. In the early 1990s, about 600,000 people attempted to cross the border illegally. After the construction of a fence and increased  border patrols,  that number dropped to 39,000 in 2015. Reasons Against the Border Barrier The question of the effectiveness of a physical barrier that has workarounds is a significant concern to those opposed to a border barrier. The barrier has been criticized for being easy to get around. Some methods include digging under it, sometimes using complex tunnel systems, climbing the fence and using wire cutters to remove barbed-wire or locating and digging holes in vulnerable sections of the border. Many people have also traveled by boat through the Gulf of Mexico, the Pacific Coast or fly in and overstay their visas. There are other concerns such as the message it sends to our neighbors and the rest of the world and the human toll of crossing the border. In addition, a border wall affects wildlife on both sides, fragmenting the habitat and disrupting essential animal migration patterns.   Message to the World A segment of the American population feels that the United States should send a message of freedom and hope to those seeking a better way of life instead of sending a keep out message at our border. It is suggested that the answer does not lie in barriers; it entails  comprehensive immigration reform, which means these immigration issues need fixing, instead of building fences, which are as effective as putting a bandage on a gaping wound. In addition, a border barrier divides the land of three indigenous nations. Human Toll on Crossing the Border Barriers wont stop people from wanting a better life. And in some cases, theyre willing to pay the highest price for the opportunity. People smugglers, called coyotes, charge astronomical fees for passage. When smuggling costs rise, it becomes less cost-effective for individuals to travel back and forth for seasonal work, so they remain in the U.S. Now the whole family must make the trip to keep everyone together. Children, infants and the elderly attempt to cross. The conditions are extreme and some people will go for days without food or water. According to the Human Rights National Commission of Mexico and the American Civil Liberties Union, almost 5,000 people have died attempting to crossing the border between 1994 and 2007. Environmental Impact Most environmentalists oppose the border barrier. Physical barriers hinder migrating wildlife, and plans show the fence will fragment wildlife refuges and private sanctuaries. Conservation groups are appalled that the Department of Homeland Security is bypassing dozens of environmental and land-management laws in order to build the border fence. More than 30 laws are being waived, including the Endangered Species Act and the National Environmental Policy Act. Updated by Robert Longley

What is art Essay Example | Topics and Well Written Essays - 750 words

What is art - Essay Example It is difficult for an ordinary person to understand the essence of the pictures and the idea of Witkin. My gut reaction to the series of the pictures was quite emotional, because it comprises much dark colors and strange combinations. The pictures seem quite weird to me and my emotional response was more negative than positive, though there was something in them, which attracted my attention. It made me feel that way, because it had very strong symbolic meaning. The obvious thematic and formal qualities of the works are people, darkness and suffering. The pictures also contain symbolic combinations of different items, for example fruits and cut arm (â€Å"Anna Akhmatova†), a unique combination of skeleton and arrows in it (â€Å"Queer Saint†), representation of naked woman with cut legs and fingers (â€Å"Humor and fear†) and so forth. There are some elements, which make the pictures significant. The people, represented on the pictures by the author are always n aked. It greatly contributed to these works, because they represent the native spirit of the human being, his origination. The method, used by the author, makes the works more real and sensual. The works of Witkin are very alike with the pictures of such famous painters as Francisco Goya, Frida Kahlo, Botticelli and others. The visual sense of the works is revealed through the religious influence. The word â€Å"Redemption† expresses the act of forgiveness, which clears everybody from the past sins. â€Å"Love and Redemption† belongs to the fine art, photography. The compositions are influenced by the Baroque style. They can be described as religious, informative, confusing and distracting, because the main (usually dark) plan of the photo distracts the attention of the viewer from the main idea. I associate these photos with the following metaphors â€Å"body constriction†, â€Å"travelling pain†. It reminds me

Paul Essay Example | Topics and Well Written Essays - 2000 words

Paul - Essay Example He did not rely on any of the disciples or earlier converts to guide him in his ministry but he relied exclusively on the Jesus to guide him in his ministry. Apostle Paul is born in the city of Tarsus of Cilicia to an Israelite family belonging to the tribe of Judah. On the eighth day, he is circumcised in compliance with the Jewish laws of Moses (Philippians 3:5, Genesis 17:12, Leviticus 12). He became a Roman citizen owing to his birth location. Paul goes to Jerusalem in order to learn the way of the Pharisees in a Pharisaic Rabbinical school the school was under the leadership of Rabbi Gamaliel and he personally took the initiative to teach Paul. This is evident in Acts 5:34, 22:3. The Pharisees were well known for their rigid following of the laws of Moses which explains why Paul was very radical in his actions of persecuting those who had converted to Christianity. The martyrdom of Stephen takes place in which he is stoned to death due to his staunch faith in Jesus Christ. Stephen was among the seven deacons who were appointed by the disciples to assist in the distribution of food. Saul who later changed his name to Paul consented to have witnessed the death of Stephen. The conversion of Saul takes place which occurs when Saul was on his way to Damascus after receiving permission from the High Priest to go there and search for Christian believers in order to punish them. He then heard a voice of Jesus Christ asking him why he was persecuting his people. He became blinded after which he was led to Damascus to Ananias whom the Lord had directed to pray for him to be healed. He was later baptized and converted to Christianity. Acts 9. Paul makes his first visit to Jerusalem after his conversion. He began to preach there which angers some of the Jews to an extent that they plot to take away his life. He was later sent by the church to

Rama Plaza Building Collapse Essay Example | Topics and Well Written Essays - 750 words

Rama Plaza Building Collapse - Essay Example While the signing of agreements is a good indication of goodwill, it is essential to consider other issues which will guarantee that employees are treated in the best way possible. Signing go many agreements is however no guarantee that safety is going to improve. Yet, these agreements only make the relationship between workers and employers to be tortuous. It cannot be stressed enough that such unfortunate events as the Rana Plaza accidents are unacceptable in any way. In this regard, firms and industries must be able to have a good way for protecting their workers (Ehap & Salim, 67). Manufacturers must not depend on rules and laws in order to protect human life. Human life is way too important, and the value of human life should not be valued based on econometrics. This means that these firms need to be able to look at these issues in a better way rather than just creating rules and laws and loo at worker safety in a very serious way. In a modern business world, competition has con tinued to increase in this regard; there are many strategies which are mean to help in making sure that businesses are competent. In this regard, business experts has developed the value chain process is the life cycle a product goes through until the product gets to the end consumer (Ehap & Salim, 66). This process is a definition of the costs which the firms will have to incur in order produce a finished item. In other words, the many businesses are geared towards making sure that the firm can present the best quality of their merchandise to their consumer while offering them the best price possible. This has led to businesses trying as much as possible to reduce their operational costs (Ehap & Salim, 78). In this case, human resource has been affected because firms have tried as much as possible to reduce the cost of human labour, leading to firms in the first world to outsource their labour aboard (especially in China) in order to have cheap labour. This means that events such a s the Rana Plaza industrial accident can be traced back to the consumer. To prevent this in the future, it is necessary to involve the consumer and help them understand the real cost of the product thy use. Some cheap products in the market are paid for in blood because humans have been abused to make these products. This can be seen in the way the Chinese sweat houses are used to make low cost garments. This has been seen in other various cases such as in Apple Inc., Nike etc. Consumers need to be educated about these issues and encouraged to avoid blood-products (in other words, products whose real cost is human blood.) by educating the end consumers on these issues it will be possible to avoid instances such as the Rana Plaza. In doing so, firms must be forced to reveal the actual cost structure of producing their products in order to identify any blood cost in their production of goods or in their value chain. From a single business point of view, there is therefore a need to cr eate a solution which is not really considerate of the economic efficiency. Businesses have responsibilities which are tied to various stakeholders and these responsibilities must be met before economic efficiency can be considered. However, in the long run, focusing on these responsibilities will also help individual businesses to save in the long run. A firm

Service Learning Essay Example | Topics and Well Written Essays - 1500 words

Service Learning - Essay Example In this regard, service learning can be defined as the method that involves the teaching of students through active formal learning together with enhanced participation in the social contexts such as community development. In this regard, the principals and practices of the formal learning processes are run concurrently with the social practices that are mainly beneficial to the immediate community (Carrington & Saggers, 2008). Indeed, service learning is normally under the category of experimental education whereby its implementation occurs in the form of youth service. Due to its complex nature, service learning normally goes hand in hand with the interaction of various people of all diversity (Butin, 2008). Due to this effect, the academic service learning has proved itself beyond any reasonable doubt that it is certainly an effective program for preparing new teachers to work with people from diverse groups. This means that a number of specific skills and knowledge exist that bot h the students and the teachers acquire in the process. In this sense, these skills do a great deal of work in improving the educational outcomes of children from diverse backgrounds (Center for Innovative Teaching and Learning, 2011). This paper, with specific reference to Butin’s conceptual framework, analytically discusses the impact of academic service learning in promoting coping with diversity at the educational institutions in order to improve the learning outcomes of the students. Indeed, academic service learning is a crucial process of learning that incorporates both the formal and the communal components of the educational framework that the students undergo in order to be wholesome (Butin, 2008). While the students undergo thoughtfully organized learning, they in the process engage in such activities that are gainful to the community at large. This helps strengthen the bond between the teachers, students, and the locals of the communities with the schools being th e epicenter of this mutual relationship. This service normally meets the needs of the immediate community through the integration of the academic curriculum of the students into the educational components that relate to the community in order to reflect an experience of service (National Service-Learning Clearinghouse, 2013). More often than not, the opportunities that service learning offers students range from the application of the learning of the classroom to the enhancement of the local agencies that are in existence for the benefit of the community (Center for Innovative Teaching and Learning, 2011). Therefore, service learning broadly involves the deliverance of service to others through an organized academic learning criterion (Butin, 2008). A simple service learning activity may involve collecting trash in the urban areas to add value to the community before proceeding to a thorough scrutiny of the effect of the trash collected on the environment through a classroom and lab oratory process. Afterwards, the students may opt to share the results of their findings as far as pollution is concerned with the local residents in an attempt to sensitize them on the need to protect and conserve the environment (Carrington & Saggers, 2008). Through such activities of service learning, both students and teachers are bound to cope

Trading Simulation Instruction Term Paper Example | Topics and Well Written Essays - 1500 words

Trading Simulation Instruction - Term Paper Example This comparison enables me to compare a stock’s per-share price. It has become a major problem to control unnecessary volatility of trade market as seen in portfolio. This has triggered the corporate government to rule out and put in place a process of bringing the patterns to a uniform level. Globally, the economic environment has started taking a paradigm shift with the featured securities. Like for instance, the ‘dot com bubble burst’ and the soaring oil prices. It is very challenging when U.S economy is put into an account (Hamid Faruqee, 2008, p. 265). U.S economy has slowed down making the interest rate appear tightened, and the equation made more complex. To determine the right shares of my portfolio, I needed to have a conservative alternative. Microsoft appeared to have outstanding price Earnings Ratio in its book value. From portfolio performance, the shares I traded are not that bad. Their PE ratios reflect the book value they had. The expected daily returns from shares have a weighted portfolio exhibit significant to non-linear dependence. Shares from Facebook and Microsoft are mostly consistent with previous market research. This research shows complete evidence of non-linear dependence in returns expected from the stock market indexes. The indexes are based on the individual stock in the United States. My justification is based on trading Facebook shares. Facebook has been engaged in global trading of market securities. This has built social products in order to create utility for both its users and developers. Facebook shares have appreciated in the recent years. It is true to say the stock is currently upward trading to approximately high rates. Summary and analysis of the Facebook share price shows the price trend is strong. Price trend can be made strong by use of simple moving averages. Key moving averages are seen in the daily chart shown in the portfolio. Facebook trading is not a bad move

Develop a new idea for existing company Term Paper

Develop a new idea for existing company - Term Paper Example Until only recently the brand went through expansion and introduced the Skin care product range which now included lotion, cleansers, towelettes, make-up removers etc. Smooth and Soft face wash will be the solitary face wash related product offering in the company’s portfolio of products. However, given ample time and growth, the company plans on expanding its line of face wash with more special purpose face washes instead of a one-for-all product. We’ll use penetration pricing for Our Soft and Smooth face wash will cost $3.25. Another added advantage that we’ll get is that it will complement our cream range as people who use face wash and care for their skin will also make lotion and cream purchases hence this strategy will benefit us in the longer run. We’ll use advertising in Magazines and place ads which clearly highlight features of the new product and its lower price with similar benefits to the competitors. This would create a pull in the market. The promotion and publicity activities plan include a first time customers’ discount of 30% if purchased in the soft launch activity zone. The product will be showcased at prominent malls in the metropolis along with banners, decoration, flash mob, gift hampers and other awareness-creating activities. Sales promotion will be initially used which will include offers like giving small sample tubes & bottles in a package with the already well established cream and lotion range. Discounts will not be offered as the product is already lowered price to competitors while providing quality. If prices will be lowered than this then customers will doubt the quality, An indirect distribution channel will be used as we have to reach to masses and also our products are Shopping products which are usually sold by retailers at stores and shops as compared to specialty goods require direct

Service Learning Essay Example | Topics and Well Written Essays - 1500 words

Service Learning - Essay Example In this regard, service learning can be defined as the method that involves the teaching of students through active formal learning together with enhanced participation in the social contexts such as community development. In this regard, the principals and practices of the formal learning processes are run concurrently with the social practices that are mainly beneficial to the immediate community (Carrington & Saggers, 2008). Indeed, service learning is normally under the category of experimental education whereby its implementation occurs in the form of youth service. Due to its complex nature, service learning normally goes hand in hand with the interaction of various people of all diversity (Butin, 2008). Due to this effect, the academic service learning has proved itself beyond any reasonable doubt that it is certainly an effective program for preparing new teachers to work with people from diverse groups. This means that a number of specific skills and knowledge exist that bot h the students and the teachers acquire in the process. In this sense, these skills do a great deal of work in improving the educational outcomes of children from diverse backgrounds (Center for Innovative Teaching and Learning, 2011). This paper, with specific reference to Butin’s conceptual framework, analytically discusses the impact of academic service learning in promoting coping with diversity at the educational institutions in order to improve the learning outcomes of the students. Indeed, academic service learning is a crucial process of learning that incorporates both the formal and the communal components of the educational framework that the students undergo in order to be wholesome (Butin, 2008). While the students undergo thoughtfully organized learning, they in the process engage in such activities that are gainful to the community at large. This helps strengthen the bond between the teachers, students, and the locals of the communities with the schools being th e epicenter of this mutual relationship. This service normally meets the needs of the immediate community through the integration of the academic curriculum of the students into the educational components that relate to the community in order to reflect an experience of service (National Service-Learning Clearinghouse, 2013). More often than not, the opportunities that service learning offers students range from the application of the learning of the classroom to the enhancement of the local agencies that are in existence for the benefit of the community (Center for Innovative Teaching and Learning, 2011). Therefore, service learning broadly involves the deliverance of service to others through an organized academic learning criterion (Butin, 2008). A simple service learning activity may involve collecting trash in the urban areas to add value to the community before proceeding to a thorough scrutiny of the effect of the trash collected on the environment through a classroom and lab oratory process. Afterwards, the students may opt to share the results of their findings as far as pollution is concerned with the local residents in an attempt to sensitize them on the need to protect and conserve the environment (Carrington & Saggers, 2008). Through such activities of service learning, both students and teachers are bound to cope

Develop a new idea for existing company Term Paper

Develop a new idea for existing company - Term Paper Example Until only recently the brand went through expansion and introduced the Skin care product range which now included lotion, cleansers, towelettes, make-up removers etc. Smooth and Soft face wash will be the solitary face wash related product offering in the company’s portfolio of products. However, given ample time and growth, the company plans on expanding its line of face wash with more special purpose face washes instead of a one-for-all product. We’ll use penetration pricing for Our Soft and Smooth face wash will cost $3.25. Another added advantage that we’ll get is that it will complement our cream range as people who use face wash and care for their skin will also make lotion and cream purchases hence this strategy will benefit us in the longer run. We’ll use advertising in Magazines and place ads which clearly highlight features of the new product and its lower price with similar benefits to the competitors. This would create a pull in the market. The promotion and publicity activities plan include a first time customers’ discount of 30% if purchased in the soft launch activity zone. The product will be showcased at prominent malls in the metropolis along with banners, decoration, flash mob, gift hampers and other awareness-creating activities. Sales promotion will be initially used which will include offers like giving small sample tubes & bottles in a package with the already well established cream and lotion range. Discounts will not be offered as the product is already lowered price to competitors while providing quality. If prices will be lowered than this then customers will doubt the quality, An indirect distribution channel will be used as we have to reach to masses and also our products are Shopping products which are usually sold by retailers at stores and shops as compared to specialty goods require direct

Being Bilingual Essay Example for Free

Being Bilingual Essay The world has become a small village. People from different countries communicate with each other daily. Therefore, the need for bilingualism has become urgent for several reasons such as migration, having parents who speak a different language or studying in an international school. In fact, speaking two languages can help us get better job opportunities and open up our mind. Firstly, being bilingual can help you have a good job easily. Nowadays, it is one of the highest priorities that you speak more than one language. For example, most of the international banks request their employees to be bilingual. Also, it is improves our life and offer us good job opportunities. All in all, one who speaks two languages gets many benefits in his life. Secondly, speaking two languages can open up our minds to new experiences and new cultures. For example, we can enjoy free time by reading books that have been written in different languages and watching documentaries and programs about different cultures. Moreover, when we travel, we get to understand people and their jokes, comments and conversation, which makes our stay in a foreign country more enjoyable and memorable. All the above reasons for knowing a new culture, it is traditions and history, enables us to communicate effectively with people from different places. In conclusion, it is Necessary to be bilingual to lead a more comfortable and meaningful life. Many lucky people do not choose to be bilingual because they are born in a family that speaks different languages. Their bilingual environment opens many doors for them. It is also enable them to be more successful.

Concepts of Mergers and Acquisitions

Concepts of Mergers and Acquisitions MA CONCEPTS Introduction â€Å"The phrase Mergers and Acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying and selling and combining of different companies that can aid, finance or help a growing company in a given industry grow rapidly without having to create another business entity† The above sums up in a nutshell the concept of mergers and acquisitions. There are multiple reasons for companies to get into MA activity whether to expand into a new market or geography, to gain market share in a current market, to overcome competition or for regulatory reasons as some governments make a tie up mandatory to operate in their local economy. However it is essential to mention that in the current economic scenario MA has become an essential tool for companies to expand and grow, as successful MA strategy can be a differentiating factor for successful organization. The words and Mergers and Acquisitions are quite often used interchangeably in the current corporate world and hence can be seen in the project as well. Here is an attempt to list out some salient features which differentiate between the terms Mergers and Acquisitions. Merger A Merger can be descried as a combination of two companies into one larger company; such activities are normally voluntary in nature and involve a stock swap or cash payment to the target organization. Stock swaps allow the shareholders of both companies to share the risk involved in the deal. A merger normally results in a new company with a new brand and a new company name being created. Oxford Dictionary of Business defines mergers as â€Å"A combination of two or more businesses on an equal footing that results in the creation of a new reporting entity formed from the combining businesses. The shareholders of the combining entities mutually share the risks and rewards of the new entity and no one party to the merger obtains control over another. Acquisition Acquisitions or takeover are different from Mergers. In the case of an acquisition a company unilaterally relinquishes its independence and adopts to the acquiring firms plans. As a legal point of view the target company ceases to exist as the buyer â€Å"swallows† the business. Acquisitions have the following characteristics They are a part of a well-considered company development plan It is a unilateral process Top management structure will have fewer problems Contractual regulations are simpler Time taken for an acquisition is normally shorter than a merger. However it is essential to mention here that whether a purchase is to be considered as merger or an acquisition actually depends on the whether the purchase is friendly or hostile or in the manner it is announced. The real difference hence lies in the way it is communicated and the way it is received by the shareholders, directors and employees of the target company. History of MA Mergers and Acquisition movements were normally defined and associated with the behavior of US organizations. Various authors have tried to classify the merger movements into wave. The most prominent was Weston who in 1953 described three major periods of merger movements while studying the US business behavior. Merger waves are a very generic way to describe the predominant strategy that was being adopted by organizations in that era. This has been interpreted by the different authors in different ways depending on how they have perceived by them. However it would be wrong to consider that all organizations followed the same strategy as described in the various. The start or the first wave of the Merger movement is said to be have been post the Sherman Act in 1890. Prior to 1890 there was a predominance of the polypoly market structure, this was reduced post 1890 and partial monopolies started increasing. The economic history has been divided into Merger Waves based on the merger activities in the business world as: Period Name Facet 1889 1904 First Wave Horizontal mergers 1916 1929 Second Wave Vertical mergers 1965 1989 Third Wave Diversified conglomerate mergers 1992 1998 Fourth Wave Hostile takeovers; Corporate Raiding 2000 Fifth Wave Cross-border mergers The Great Merger Movement was primarily a US business phenomenon from 1895 to 1905. It is said that during this time 1800 of small firms disappeared into consolidations with similar firms to form large, powerful institutions that dominated their markets. The relaxation of corporate laws in the United States helped the mergers, transportation and communication networks were developed which helped achieved economies of size. The second wave (1916 to 1929) saw even greater activity in mergers. The motive behind these mergers was vertical integrations. Organizations tried to achieve technical gains and to avoid their dependence on other firms for raw materials. The third wave saw the large conglomerates looking at diversification in the 60s. the process actually reached its zenith during the merge wave and was carried to its logical extreme by the conglomerate firms that rose to prominence during that time. The fourth wave in 90s saw increase in hostile takeovers and corporate raiding by the large firms. This was a wave during which vulnerable companies were grabbed up by the larger firms. The fifth wave has been categorized as starting from the year 2000 onwards and has seen a trend of increase in Cross border acquisitions. The rise of globalization has seen increased the market for cross border MA. This rapid increase has taken many MA firms by surprise as most of them never used to consider this due to the complexity involved in cross border MA. The success of these acquisitions was also limited and we saw a vast majority of them failing. Even then in 1997 alone there were over 2300 cross border acquisition worth a total of approximately $298 Million. Source: Boston Consulting Group Research Report â€Å" The Brave New World of MA-How to Create value from MA†, July 2007 Types of Mergers and Acquisitions There are various types of mergers and acquisitions depending on the type of the business structure. The classification can be based on the type of companies merging or by the way the MA deal is being financed. Here is some type of mergers on the basis of the relationship between the two companies that are merging: Horizontal Merger- This type or a merger is between two companies that share the same product line and markets and are in direct competition with each other Vertical Merger This is between a customer and company of between a supplier and a company Market Extension Merger This between two companies that sell the same products in different geographies or markets Product Extension Merger This is between two companies that are selling different but related products in the same market. Circular Merger A circular merger is very similar to a product extension merger however in this case the products being sold are completely unrelated. The merger brings in benefits by utilizing the same channels for marketing these unrelated products, allowing shared dealerships. An example of this kind of a merger is of McLeod Russel (A Team company) with Eveready Industries ( A batteries company) in 1997. McLeod Russel however was de-merged from Eveready in 2005. Conglomeration This type of a merger is between two companies that have no common business areas. Mergers can also be classified depending on how the merger is being financed as described below Purchase Mergers This kind of a merger occurs when a company purchases another. The purchase is made through cash or through the issue of a debt instrument. Consolidation Mergers In this type of a merger a new company is formed and both the companies are bought and combined under the new entity. Type of acquisitions can be described as below Amalgamation In this type of an acquisition a new corporation is created by uniting the companies voluntarily. Acquisition/Takeover In this form one company acquires another companies total or controlling interest. The acquired company either operates as a subsidiary or can be liquidated completely. Sale of Assets A company can sell off all its assets to another and cease to exist. Holding Company Acquisition This involves the acquisition of either the total or majority of a firms stock by a company. The purpose of this form is mainly to gain management control of other companies Reverse Merger In this form of an acquisition a private company with strong prospects buys a publicly listed shell company, usually one with no business or limited assets. This helps the private company to get publicly listed in a short span of time. All mergers though have one common goal and that is to create a synergy between two companies which makes the value of the combined companies to be greater than the sum of the two companies MA Process MA process can be laid down in 3 basic phases First Phase Start with an Offer The acquiring firm once decides that they want to do a merger of acquisition, they start with an offer. The acquiring company starts working with financial advisors and investment bankers to initiate contact with the target company. The acquiring must have a strategy for a merger programme, formulated by company management and approved by the director and majority stockholders. The acquiring company also at this point does a soft due diligence with the help of publicly available data and financial advisors. The purpose of this is to arrive at an overall price that the acquiring company is willing to pay for its target in cash, shares or both. Second Phase Targets Response Once the offer has been made the target company can do one of several things mentioned below Accept the offer If the target companies top management and shareholders are happy with the offer they can simply accept the offer and go ahead with the deal. Attempt to Negotiate   If the target company management and shareholders are not satisfied with the offer they might try and work out more agreeable terms with the acquiring company. Since a lot is stake for the management of the target i.e. their jobs in particular, they might want to work out better deal to keep their jobs or leave with a big compensations package. Target companies which are highly sought after with multiple bidders would obviously have a better chance of negotiating a sweeter deal. Even manager who are crucial to the operation of an organization have a better chance of success into negotiating a good deal for them. Execute a Poison Pill or similar Hostile Takeover Defense A poison pill can be initiated by a target company if it observers a potential hostile suitor acquiring a predetermined percentage of Target company stock. To execute its defense, the target company grants all shareholders except the acquiring company options to buy additional stock at a dramatic discount. This dilutes the acquiring companys share and thwarts the potential hostile takeover attempt.  · Find a White Knight In this alternative a target company seeks out a friendlier company as a potential acquiring company. The friendlier company would offer an equal or higher price with better terms as compared to a hostile takeover bid. Third Phase or Closing the Deal Once the target company accepts the offer and all the regulatory requirements are met then the deal would be executed. The acquiring company will them pay for the target companies shares with cash, stock or both. A cash-for-stock transaction is fairly straightforward: target company shareholders receive a cash payment for each share purchased. When a company is purchased with stock, new shares from the acquiring companysstock are issued directly to the target companys shareholders, or the new shares are sent to a broker who manages them for target company shareholders GROWTH STRATEGIES Concept of Growth Growth in firms can be looked at by two broad views: organic growth, or inorganic growth. Organic growth is achieved through mainly internal expansion while inorganic growth is achieved through external expansion, i.e. through consolidations, acquisitions and mergers. Growth is something for which most companies, large or small, strive. Small firms want to get big, big firms want to get bigger. As observed by Philip B. Crosby, author of The Eternally Successful Organization, if for no other reason than to accommodate the increased expenses that develop over the years. Inflation also raises the cost of everything, and retaliatory price increases are not always possible. Salaries rise as employees gain seniority. The costs of benefits rise because of their very structure, and it is difficult to take any back, particularly if the enterprise is profitable. Therefore cost eliminations and profit improvement must be conducted on a continuing basis, and the revenues of the organization must continue to increase in order to broaden the base. Most firms, of course, desire growth in order to prosper, not just to survive. Organizational growth, however, means different things to different organizations. Indeed, there are many parameters a company can select to measure its growth. The most meaningful yardstick is one that shows progress with respect to an organizations stated goals. The ultimate goal of most companies is profit, so net profit, revenue, and other financial data are often utilized as bottom-line indications of growth. Other business owners, meanwhile, may use sales figures, number of employees, physical expansion, or other criteria to judge organizational growth. Companies which are run by a product minded entrepreneur are more concerned with the growth and profitability of a firm as an organization for the production of goods and services. While companies run by empire builders type of entrepreneurs are continuously looking at expanding the scope of the enterprise. Empire builders are not satisfied are not sa tisfied with product improvement or maintaining competitive edge In terms of access to finance there are broadly five growth stages in a companys lifespan: inception, organic growth, purchased, IPO and Beyond IPO as shown in the figure below. Each stage has its own characteristics, risks and potential financial sources. Organic Growth without MA In Organic growth, growth depends on the ability to avail the available opportunities and existing resources in a more efficient way. The extent of growth of a firm is actually determined by the ability of managers, product or market factors. There is no limit to the absolute size of the firm keeping in mind the assumption that there is no fixity of capital, labor and management and the firm is capable of acquiring these resources at a price. In addition it is also assumed that there are opportunities in the economy for investments. The economies available within the firm (such as excess productive resources or managerial capabilities) disappear after the expansion is completed as they get utilized in a new activity. This means that it is only an â€Å"entry advantage†. However the firm may have these advantages in its new operations, often set up as new subsidiaries or divisions, which may grow in response to the economies in the same manner as the rest of the firm. New operations may later be spun off from the original firm without any loss of efficiency. Further, both the original and the spun off firms will have some unused productive resources which can then be used to develop new activities Inorganic growth through MA The inorganic growth strategy is dependent on MA. The idea of acquisition is that it accelerates the business model, giving it greater impetus than organic growth. Because acquisition gives the business what it cannot get quickly or incrementally. It may be a joint venture an agreement that gives both parties something they want that the other has. Acquisition targets can include both complementary and competitive businesses complementary when the target can give something an acquirer needs or competitive when the target can stop someone else having what the acquirer wants. The risks in growth through acquisitions are significant, but they can be contained through planning and due diligence. The primary risk is integration: post the acquisition is completed the new arrangements have to work and people who were not party to the negotiation have to work together. The same goes for systems and expectations as different business would have grown in different ways. A consistent culture is laudable but a wholly consistent culture will be impossible. Add regional diversity to this and the risk would become even higher. Motivations for MA Mergers and acquisitions can be motivated by either the share-holder wealth maximizing approach or the widening share ownership. The primary objectives of MA activities are diversifications, market expansion, improving competitive position and depression immunity. Given these basic objectives a different rationale can be assigned at both individual and collective levels. From the standpoint of shareholders Investment made by shareholders in the companies subject to merger should enhance in value. The sale of shares from one companys shareholders to another and holding investment in shares should give rise to greater values i.e. the opportunity gains in alternative investments. Shareholders may gain from merger in different ways viz. from the gains and achievements of the company i.e. through Realization of monopoly profits; Economies of scales; Diversification of product line; Acquisition of human assets and other resources not available otherwise; Better investment opportunity in combinations. One or more features would generally be available in each merger where shareholders may have attraction and favor merger. From the standpoint of managers Managers are concerned with improving operations of the company, managing the affairs of the company effectively for all round gains and growth of the company which will provide them better deals in raising their status, perks and fringe benefits. Mergers where all these things are the guaranteed outcome get support from the managers. At the same time, where managers have fear of displacement at the hands of new management in amalgamated company and also resultant depreciation from the merger then support from them becomes difficult. Promoters gains Mergers do offer to company promoters the advantage of increasing the size of their company and the financial structure and strength. They can convert a closely held and private limited company into a public company without contributing much wealth and without losing control. Benefits to general public Impact of mergers on general public could be viewed as aspect of benefits and costs to: Consumer of the product or services; Workers of the companies under combination; General public affected in general having not been user or consumer or the worker in the companies under merger plan. VALUATION OF TARGET COMPANIES Valuation of target companies is an essential step in the MA process. Due Diligence Due Diligence of a company; answers the question of whether a deal is being done at the right time at the right price for the right reasons. It involves an investigation into the affairs of an entity and results in the production of a report detailing relevant data and points. The investigation is performed prior to the businesss acquisition, flotation, restructuring or other transactions Due Diligence is performed by many advisors on the team. For example there may be a separate legal due diligence, financial due diligence, tax due diligence, environmental due diligence, commercial due diligence, and information technology due diligence. Financial due diligence is a vital part of the MA process. Often a problem in the financial due diligence raises point to be dealt by other areas as well, for example a financial due diligence may uncover an unusual lease obligation which then feeds into the legal due diligence. What a due diligence involves Each MA transaction is unique in its own sense hence the scope and extent of a due diligence process needs to be tailored to fit the needs of the buyer. However broadly it should cover the following aspects: The history and commercial activities of the business The organizational structure and employees Employee benefits and labor matters Its accounting policies The information systems A detailed review of financial statements A review of the financial projections Anything else the team may uncover that is relevant for the transaction Methods of Valuation The valuation of a target company normally depends on a lot of factors, it is not sufficient to evaluate the financial aspect alone. This is possible through a valuation of the 5 Ps which are: Personnel  ­- senior management of the target company play an important role in an acquisition. The acquiring firm considers the motivation, energy and intelligence levels of the existing personnel before taking them on. Product Proprietary products of a Target company increase the value of the company. Plant The plant capacity and condition of equipments also affect the valuation of a company. Potential The potential of a firms growth as compared to the industry is also a factor in its valuation Profit The declared profits of the firm is the basis of determining price. It is normally considered easier to evaluate public limited since most of the above data is publicly available in their annually published reports. In the case of a Private company it is a little more challenging to get the same information and the Acquiring company has to depend on a proper due diligence process to complete its valuation. Financial Valuation Financial valuation should answer the simple, but vital, question â€Å"What is something worth?† The analysis of target is hence based on either current projections or of the future. The process of valuations differ substantially for a listed and unlisted companies Many types of valuation metrics are used, involving several sets of metrics. On of the most common is the standard P/E ration (Price to earnings ratio) however some of the other metrics include assets value, capitalized earnings, market value, investment value, book value, costs basis valuation, enterprise value and some combined methods as well. P/E Ratio and Market Price For an unlisted company the P/E ratio of a comparable listed company is referred to and discounted based on the voting rights in the company. For listed companies the modes of valuation can be based on either earnings or assets. The market price of shares reflects the earnings per share (EPS). P/E ratio Calculated as: The P/E ratio is the current price of shares divided by the EPS. The higher the P/E ratio the higher are the future earnings expectation The P/E multiple is calculated as the multiple of net profit used to compute the companys purchase price. For example, an investor attempting to recover his initial investment in 10 years would have to earn an after-tax return of 10% on investment, plus adjustment for discounted cash flow and inflation. Discounted Cash Flow (DCF) analysis uses future free cash flow projections and discounts them (most often using the weighted average cost of capital) to arrive at a present value. DCF is calculated as: Assets Value Tangible assets, such as land and buildings, and intangible assets are assessed as per existing business practices. Goodwill is based on the companys excess earning power for certain number of years. The asset basis valuation is either on the fair value or the open market value. The dividend approach and the super profit approach can also be used for asset valuation. In the dividend, the present share prices are taken as the values of future dividends. While the super profit approach expects to get more value for a firm in addition to the value of the net assets. Capitalized Earnings This method is based on the rate of return on the capital employed Market Value This is on the basis of quoted share values at the stock exchange. Investment Value This is the cost of establishing an enterprise such as the target company and the interest on the same. Book Value This is the secondary factor in valuations and takes into account the total worth of the assets after depreciation. If the P/E multiplier is less than the book value then the book value has to be adjusted to reflect the true value. It takes into account the present net value of the real estate, machinery and equipment. Sometimes the book value may be understated in times of inflation and overstated during depression. Cost Basis Valuation This is cost minus depreciation. Intangible assets are not taken into account. Reproduction Cost This is the current cost of replacement of properties with similar design and material. Substitution Cost Substitution cost is the cost of construction of the same utility and capacity. Enterprise Value The valuation of a company is based on the Enterprise Value (EV) and its ratio to the companys sales and operating profit (PBIDT Profit before interest, depreciation and tax). Enterprise Value is calculated as: A = Market Capitalization of Stock + Total Debt on Companys books B = Investments + Cash EV = (B A) Accounting Methods The method accounting also has a significant impact on the valuation and price the seller will receive. The acquiring firm can use two principal accounting methods for valuations, they can either use the pooling of interests method or the purchase method. The main difference between them is the value that the combined firms balance sheet places on the assets of the acquired firm, as well as the depreciation allowances and charges against income following the merger. Pooling of Interests Method The pooling of interests method assumes that the transaction is simply an exchange of equity securities. Therefore, the capital stock account of the target firm is eliminated, and the acquirer issues new stock to replace it. The two firms assets and liabilities are combined at their historical book values as of the acquisition date. The end result of a pooling of interests transaction is that the total assets of the combined firm are equal to the sum of the assets of the individual firms. No goodwill is generated, and there are no charges against earnings. A tax-free acquisition would normally be reported as a pooling of interests. Purchase Method   In this method, assets and liabilities are shown on the merged firms books at their market (not book) values as of the acquisition date. This method is based on the idea that the resulting values should reflect the market values established during the bargaining process. The total liabilities of the combined firm equal the sum of the two firms individual liabilities. The equity of the acquiring firm is increased by the amount of the purchase price. Mark Up Pricing/ Premium Markup pricing or premium is the percentage difference between the trading price of the target companies stock before the announcement of acquisition and the price per share paid by the acquiring firm. Bidding firms pay large premiums to acquire control of exchange-listed target firms. Normally premiums include pre-bid run up in the target firms stock price as part of the control premium paid by the winning bidders. The valuations by the bidder and the target depend on the information each party has at the time of the negotiation. Mark Up or premium is partly decided on the basis of the relationship pattern of the acquiring firm. The pattern in some cases is that if interlocking directorship among firms. Most firms have stable and long standing relationships with professionals such as attorneys, investment bankers and accountants. These are likely to have similar effects as to interlock directorships. Managers take advice from both their interlock partners and professional firms when deciding how much to pay. Financing an MA Organizations use various methods for financing an MA deal. Often combinations of the below mentioned methods: Cash Cash payments. These are normally preferred since the organization does not have to dilute equity and there will be no change in the number of shares outstanding. Also cash transactions save time and cash can be re-invested at the face value. Financing Financing capital may be borrowed from banks or raised from issue of bonds. Acquisitions that are financed through debt are called as leveraged buyouts if they take the target private, and the debt will often be moved down into the balance sheet of the acquired company. Hybrids An acquisition can involve a combination of cash and debt or of cash and stock of the purchasing entity. POST ACQUISITION INTEGRATION After the acquisition is completed, the acquired company needs to be integrated with the acquiring company. The process of integration actually needs to be planned during the acquisition itself to ensure that the company integrates smoothly. The success of integration also depends on the managers who are responsible for the implementation. Planning The acquiring company needs to plan the post acquisition integration period. IN the initial period the target company is more receptive to drastic changes to make the company viable. Some of the basic approaches are as follows Adapting a program This should be completely aligned with the companies goals and objectives of the company and should also take into account the limitations of the company. Effective organization and leadership structure The integration process involves creating a group which focuses on creating value through specific activities and actions. A true partnership would mean involving the senior leadership of the acquired company as well in this strategic group. Minimize post acquisition exodus of critical resources It is critical to have a preventing plan in place to minimize the damage that maybe caused to the new enterprise. Any loss of critical things like market standing, key employees, brand has to be avoided. Employee issues The empl Concepts of Mergers and Acquisitions Concepts of Mergers and Acquisitions MA CONCEPTS Introduction â€Å"The phrase Mergers and Acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying and selling and combining of different companies that can aid, finance or help a growing company in a given industry grow rapidly without having to create another business entity† The above sums up in a nutshell the concept of mergers and acquisitions. There are multiple reasons for companies to get into MA activity whether to expand into a new market or geography, to gain market share in a current market, to overcome competition or for regulatory reasons as some governments make a tie up mandatory to operate in their local economy. However it is essential to mention that in the current economic scenario MA has become an essential tool for companies to expand and grow, as successful MA strategy can be a differentiating factor for successful organization. The words and Mergers and Acquisitions are quite often used interchangeably in the current corporate world and hence can be seen in the project as well. Here is an attempt to list out some salient features which differentiate between the terms Mergers and Acquisitions. Merger A Merger can be descried as a combination of two companies into one larger company; such activities are normally voluntary in nature and involve a stock swap or cash payment to the target organization. Stock swaps allow the shareholders of both companies to share the risk involved in the deal. A merger normally results in a new company with a new brand and a new company name being created. Oxford Dictionary of Business defines mergers as â€Å"A combination of two or more businesses on an equal footing that results in the creation of a new reporting entity formed from the combining businesses. The shareholders of the combining entities mutually share the risks and rewards of the new entity and no one party to the merger obtains control over another. Acquisition Acquisitions or takeover are different from Mergers. In the case of an acquisition a company unilaterally relinquishes its independence and adopts to the acquiring firms plans. As a legal point of view the target company ceases to exist as the buyer â€Å"swallows† the business. Acquisitions have the following characteristics They are a part of a well-considered company development plan It is a unilateral process Top management structure will have fewer problems Contractual regulations are simpler Time taken for an acquisition is normally shorter than a merger. However it is essential to mention here that whether a purchase is to be considered as merger or an acquisition actually depends on the whether the purchase is friendly or hostile or in the manner it is announced. The real difference hence lies in the way it is communicated and the way it is received by the shareholders, directors and employees of the target company. History of MA Mergers and Acquisition movements were normally defined and associated with the behavior of US organizations. Various authors have tried to classify the merger movements into wave. The most prominent was Weston who in 1953 described three major periods of merger movements while studying the US business behavior. Merger waves are a very generic way to describe the predominant strategy that was being adopted by organizations in that era. This has been interpreted by the different authors in different ways depending on how they have perceived by them. However it would be wrong to consider that all organizations followed the same strategy as described in the various. The start or the first wave of the Merger movement is said to be have been post the Sherman Act in 1890. Prior to 1890 there was a predominance of the polypoly market structure, this was reduced post 1890 and partial monopolies started increasing. The economic history has been divided into Merger Waves based on the merger activities in the business world as: Period Name Facet 1889 1904 First Wave Horizontal mergers 1916 1929 Second Wave Vertical mergers 1965 1989 Third Wave Diversified conglomerate mergers 1992 1998 Fourth Wave Hostile takeovers; Corporate Raiding 2000 Fifth Wave Cross-border mergers The Great Merger Movement was primarily a US business phenomenon from 1895 to 1905. It is said that during this time 1800 of small firms disappeared into consolidations with similar firms to form large, powerful institutions that dominated their markets. The relaxation of corporate laws in the United States helped the mergers, transportation and communication networks were developed which helped achieved economies of size. The second wave (1916 to 1929) saw even greater activity in mergers. The motive behind these mergers was vertical integrations. Organizations tried to achieve technical gains and to avoid their dependence on other firms for raw materials. The third wave saw the large conglomerates looking at diversification in the 60s. the process actually reached its zenith during the merge wave and was carried to its logical extreme by the conglomerate firms that rose to prominence during that time. The fourth wave in 90s saw increase in hostile takeovers and corporate raiding by the large firms. This was a wave during which vulnerable companies were grabbed up by the larger firms. The fifth wave has been categorized as starting from the year 2000 onwards and has seen a trend of increase in Cross border acquisitions. The rise of globalization has seen increased the market for cross border MA. This rapid increase has taken many MA firms by surprise as most of them never used to consider this due to the complexity involved in cross border MA. The success of these acquisitions was also limited and we saw a vast majority of them failing. Even then in 1997 alone there were over 2300 cross border acquisition worth a total of approximately $298 Million. Source: Boston Consulting Group Research Report â€Å" The Brave New World of MA-How to Create value from MA†, July 2007 Types of Mergers and Acquisitions There are various types of mergers and acquisitions depending on the type of the business structure. The classification can be based on the type of companies merging or by the way the MA deal is being financed. Here is some type of mergers on the basis of the relationship between the two companies that are merging: Horizontal Merger- This type or a merger is between two companies that share the same product line and markets and are in direct competition with each other Vertical Merger This is between a customer and company of between a supplier and a company Market Extension Merger This between two companies that sell the same products in different geographies or markets Product Extension Merger This is between two companies that are selling different but related products in the same market. Circular Merger A circular merger is very similar to a product extension merger however in this case the products being sold are completely unrelated. The merger brings in benefits by utilizing the same channels for marketing these unrelated products, allowing shared dealerships. An example of this kind of a merger is of McLeod Russel (A Team company) with Eveready Industries ( A batteries company) in 1997. McLeod Russel however was de-merged from Eveready in 2005. Conglomeration This type of a merger is between two companies that have no common business areas. Mergers can also be classified depending on how the merger is being financed as described below Purchase Mergers This kind of a merger occurs when a company purchases another. The purchase is made through cash or through the issue of a debt instrument. Consolidation Mergers In this type of a merger a new company is formed and both the companies are bought and combined under the new entity. Type of acquisitions can be described as below Amalgamation In this type of an acquisition a new corporation is created by uniting the companies voluntarily. Acquisition/Takeover In this form one company acquires another companies total or controlling interest. The acquired company either operates as a subsidiary or can be liquidated completely. Sale of Assets A company can sell off all its assets to another and cease to exist. Holding Company Acquisition This involves the acquisition of either the total or majority of a firms stock by a company. The purpose of this form is mainly to gain management control of other companies Reverse Merger In this form of an acquisition a private company with strong prospects buys a publicly listed shell company, usually one with no business or limited assets. This helps the private company to get publicly listed in a short span of time. All mergers though have one common goal and that is to create a synergy between two companies which makes the value of the combined companies to be greater than the sum of the two companies MA Process MA process can be laid down in 3 basic phases First Phase Start with an Offer The acquiring firm once decides that they want to do a merger of acquisition, they start with an offer. The acquiring company starts working with financial advisors and investment bankers to initiate contact with the target company. The acquiring must have a strategy for a merger programme, formulated by company management and approved by the director and majority stockholders. The acquiring company also at this point does a soft due diligence with the help of publicly available data and financial advisors. The purpose of this is to arrive at an overall price that the acquiring company is willing to pay for its target in cash, shares or both. Second Phase Targets Response Once the offer has been made the target company can do one of several things mentioned below Accept the offer If the target companies top management and shareholders are happy with the offer they can simply accept the offer and go ahead with the deal. Attempt to Negotiate   If the target company management and shareholders are not satisfied with the offer they might try and work out more agreeable terms with the acquiring company. Since a lot is stake for the management of the target i.e. their jobs in particular, they might want to work out better deal to keep their jobs or leave with a big compensations package. Target companies which are highly sought after with multiple bidders would obviously have a better chance of negotiating a sweeter deal. Even manager who are crucial to the operation of an organization have a better chance of success into negotiating a good deal for them. Execute a Poison Pill or similar Hostile Takeover Defense A poison pill can be initiated by a target company if it observers a potential hostile suitor acquiring a predetermined percentage of Target company stock. To execute its defense, the target company grants all shareholders except the acquiring company options to buy additional stock at a dramatic discount. This dilutes the acquiring companys share and thwarts the potential hostile takeover attempt.  · Find a White Knight In this alternative a target company seeks out a friendlier company as a potential acquiring company. The friendlier company would offer an equal or higher price with better terms as compared to a hostile takeover bid. Third Phase or Closing the Deal Once the target company accepts the offer and all the regulatory requirements are met then the deal would be executed. The acquiring company will them pay for the target companies shares with cash, stock or both. A cash-for-stock transaction is fairly straightforward: target company shareholders receive a cash payment for each share purchased. When a company is purchased with stock, new shares from the acquiring companysstock are issued directly to the target companys shareholders, or the new shares are sent to a broker who manages them for target company shareholders GROWTH STRATEGIES Concept of Growth Growth in firms can be looked at by two broad views: organic growth, or inorganic growth. Organic growth is achieved through mainly internal expansion while inorganic growth is achieved through external expansion, i.e. through consolidations, acquisitions and mergers. Growth is something for which most companies, large or small, strive. Small firms want to get big, big firms want to get bigger. As observed by Philip B. Crosby, author of The Eternally Successful Organization, if for no other reason than to accommodate the increased expenses that develop over the years. Inflation also raises the cost of everything, and retaliatory price increases are not always possible. Salaries rise as employees gain seniority. The costs of benefits rise because of their very structure, and it is difficult to take any back, particularly if the enterprise is profitable. Therefore cost eliminations and profit improvement must be conducted on a continuing basis, and the revenues of the organization must continue to increase in order to broaden the base. Most firms, of course, desire growth in order to prosper, not just to survive. Organizational growth, however, means different things to different organizations. Indeed, there are many parameters a company can select to measure its growth. The most meaningful yardstick is one that shows progress with respect to an organizations stated goals. The ultimate goal of most companies is profit, so net profit, revenue, and other financial data are often utilized as bottom-line indications of growth. Other business owners, meanwhile, may use sales figures, number of employees, physical expansion, or other criteria to judge organizational growth. Companies which are run by a product minded entrepreneur are more concerned with the growth and profitability of a firm as an organization for the production of goods and services. While companies run by empire builders type of entrepreneurs are continuously looking at expanding the scope of the enterprise. Empire builders are not satisfied are not sa tisfied with product improvement or maintaining competitive edge In terms of access to finance there are broadly five growth stages in a companys lifespan: inception, organic growth, purchased, IPO and Beyond IPO as shown in the figure below. Each stage has its own characteristics, risks and potential financial sources. Organic Growth without MA In Organic growth, growth depends on the ability to avail the available opportunities and existing resources in a more efficient way. The extent of growth of a firm is actually determined by the ability of managers, product or market factors. There is no limit to the absolute size of the firm keeping in mind the assumption that there is no fixity of capital, labor and management and the firm is capable of acquiring these resources at a price. In addition it is also assumed that there are opportunities in the economy for investments. The economies available within the firm (such as excess productive resources or managerial capabilities) disappear after the expansion is completed as they get utilized in a new activity. This means that it is only an â€Å"entry advantage†. However the firm may have these advantages in its new operations, often set up as new subsidiaries or divisions, which may grow in response to the economies in the same manner as the rest of the firm. New operations may later be spun off from the original firm without any loss of efficiency. Further, both the original and the spun off firms will have some unused productive resources which can then be used to develop new activities Inorganic growth through MA The inorganic growth strategy is dependent on MA. The idea of acquisition is that it accelerates the business model, giving it greater impetus than organic growth. Because acquisition gives the business what it cannot get quickly or incrementally. It may be a joint venture an agreement that gives both parties something they want that the other has. Acquisition targets can include both complementary and competitive businesses complementary when the target can give something an acquirer needs or competitive when the target can stop someone else having what the acquirer wants. The risks in growth through acquisitions are significant, but they can be contained through planning and due diligence. The primary risk is integration: post the acquisition is completed the new arrangements have to work and people who were not party to the negotiation have to work together. The same goes for systems and expectations as different business would have grown in different ways. A consistent culture is laudable but a wholly consistent culture will be impossible. Add regional diversity to this and the risk would become even higher. Motivations for MA Mergers and acquisitions can be motivated by either the share-holder wealth maximizing approach or the widening share ownership. The primary objectives of MA activities are diversifications, market expansion, improving competitive position and depression immunity. Given these basic objectives a different rationale can be assigned at both individual and collective levels. From the standpoint of shareholders Investment made by shareholders in the companies subject to merger should enhance in value. The sale of shares from one companys shareholders to another and holding investment in shares should give rise to greater values i.e. the opportunity gains in alternative investments. Shareholders may gain from merger in different ways viz. from the gains and achievements of the company i.e. through Realization of monopoly profits; Economies of scales; Diversification of product line; Acquisition of human assets and other resources not available otherwise; Better investment opportunity in combinations. One or more features would generally be available in each merger where shareholders may have attraction and favor merger. From the standpoint of managers Managers are concerned with improving operations of the company, managing the affairs of the company effectively for all round gains and growth of the company which will provide them better deals in raising their status, perks and fringe benefits. Mergers where all these things are the guaranteed outcome get support from the managers. At the same time, where managers have fear of displacement at the hands of new management in amalgamated company and also resultant depreciation from the merger then support from them becomes difficult. Promoters gains Mergers do offer to company promoters the advantage of increasing the size of their company and the financial structure and strength. They can convert a closely held and private limited company into a public company without contributing much wealth and without losing control. Benefits to general public Impact of mergers on general public could be viewed as aspect of benefits and costs to: Consumer of the product or services; Workers of the companies under combination; General public affected in general having not been user or consumer or the worker in the companies under merger plan. VALUATION OF TARGET COMPANIES Valuation of target companies is an essential step in the MA process. Due Diligence Due Diligence of a company; answers the question of whether a deal is being done at the right time at the right price for the right reasons. It involves an investigation into the affairs of an entity and results in the production of a report detailing relevant data and points. The investigation is performed prior to the businesss acquisition, flotation, restructuring or other transactions Due Diligence is performed by many advisors on the team. For example there may be a separate legal due diligence, financial due diligence, tax due diligence, environmental due diligence, commercial due diligence, and information technology due diligence. Financial due diligence is a vital part of the MA process. Often a problem in the financial due diligence raises point to be dealt by other areas as well, for example a financial due diligence may uncover an unusual lease obligation which then feeds into the legal due diligence. What a due diligence involves Each MA transaction is unique in its own sense hence the scope and extent of a due diligence process needs to be tailored to fit the needs of the buyer. However broadly it should cover the following aspects: The history and commercial activities of the business The organizational structure and employees Employee benefits and labor matters Its accounting policies The information systems A detailed review of financial statements A review of the financial projections Anything else the team may uncover that is relevant for the transaction Methods of Valuation The valuation of a target company normally depends on a lot of factors, it is not sufficient to evaluate the financial aspect alone. This is possible through a valuation of the 5 Ps which are: Personnel  ­- senior management of the target company play an important role in an acquisition. The acquiring firm considers the motivation, energy and intelligence levels of the existing personnel before taking them on. Product Proprietary products of a Target company increase the value of the company. Plant The plant capacity and condition of equipments also affect the valuation of a company. Potential The potential of a firms growth as compared to the industry is also a factor in its valuation Profit The declared profits of the firm is the basis of determining price. It is normally considered easier to evaluate public limited since most of the above data is publicly available in their annually published reports. In the case of a Private company it is a little more challenging to get the same information and the Acquiring company has to depend on a proper due diligence process to complete its valuation. Financial Valuation Financial valuation should answer the simple, but vital, question â€Å"What is something worth?† The analysis of target is hence based on either current projections or of the future. The process of valuations differ substantially for a listed and unlisted companies Many types of valuation metrics are used, involving several sets of metrics. On of the most common is the standard P/E ration (Price to earnings ratio) however some of the other metrics include assets value, capitalized earnings, market value, investment value, book value, costs basis valuation, enterprise value and some combined methods as well. P/E Ratio and Market Price For an unlisted company the P/E ratio of a comparable listed company is referred to and discounted based on the voting rights in the company. For listed companies the modes of valuation can be based on either earnings or assets. The market price of shares reflects the earnings per share (EPS). P/E ratio Calculated as: The P/E ratio is the current price of shares divided by the EPS. The higher the P/E ratio the higher are the future earnings expectation The P/E multiple is calculated as the multiple of net profit used to compute the companys purchase price. For example, an investor attempting to recover his initial investment in 10 years would have to earn an after-tax return of 10% on investment, plus adjustment for discounted cash flow and inflation. Discounted Cash Flow (DCF) analysis uses future free cash flow projections and discounts them (most often using the weighted average cost of capital) to arrive at a present value. DCF is calculated as: Assets Value Tangible assets, such as land and buildings, and intangible assets are assessed as per existing business practices. Goodwill is based on the companys excess earning power for certain number of years. The asset basis valuation is either on the fair value or the open market value. The dividend approach and the super profit approach can also be used for asset valuation. In the dividend, the present share prices are taken as the values of future dividends. While the super profit approach expects to get more value for a firm in addition to the value of the net assets. Capitalized Earnings This method is based on the rate of return on the capital employed Market Value This is on the basis of quoted share values at the stock exchange. Investment Value This is the cost of establishing an enterprise such as the target company and the interest on the same. Book Value This is the secondary factor in valuations and takes into account the total worth of the assets after depreciation. If the P/E multiplier is less than the book value then the book value has to be adjusted to reflect the true value. It takes into account the present net value of the real estate, machinery and equipment. Sometimes the book value may be understated in times of inflation and overstated during depression. Cost Basis Valuation This is cost minus depreciation. Intangible assets are not taken into account. Reproduction Cost This is the current cost of replacement of properties with similar design and material. Substitution Cost Substitution cost is the cost of construction of the same utility and capacity. Enterprise Value The valuation of a company is based on the Enterprise Value (EV) and its ratio to the companys sales and operating profit (PBIDT Profit before interest, depreciation and tax). Enterprise Value is calculated as: A = Market Capitalization of Stock + Total Debt on Companys books B = Investments + Cash EV = (B A) Accounting Methods The method accounting also has a significant impact on the valuation and price the seller will receive. The acquiring firm can use two principal accounting methods for valuations, they can either use the pooling of interests method or the purchase method. The main difference between them is the value that the combined firms balance sheet places on the assets of the acquired firm, as well as the depreciation allowances and charges against income following the merger. Pooling of Interests Method The pooling of interests method assumes that the transaction is simply an exchange of equity securities. Therefore, the capital stock account of the target firm is eliminated, and the acquirer issues new stock to replace it. The two firms assets and liabilities are combined at their historical book values as of the acquisition date. The end result of a pooling of interests transaction is that the total assets of the combined firm are equal to the sum of the assets of the individual firms. No goodwill is generated, and there are no charges against earnings. A tax-free acquisition would normally be reported as a pooling of interests. Purchase Method   In this method, assets and liabilities are shown on the merged firms books at their market (not book) values as of the acquisition date. This method is based on the idea that the resulting values should reflect the market values established during the bargaining process. The total liabilities of the combined firm equal the sum of the two firms individual liabilities. The equity of the acquiring firm is increased by the amount of the purchase price. Mark Up Pricing/ Premium Markup pricing or premium is the percentage difference between the trading price of the target companies stock before the announcement of acquisition and the price per share paid by the acquiring firm. Bidding firms pay large premiums to acquire control of exchange-listed target firms. Normally premiums include pre-bid run up in the target firms stock price as part of the control premium paid by the winning bidders. The valuations by the bidder and the target depend on the information each party has at the time of the negotiation. Mark Up or premium is partly decided on the basis of the relationship pattern of the acquiring firm. The pattern in some cases is that if interlocking directorship among firms. Most firms have stable and long standing relationships with professionals such as attorneys, investment bankers and accountants. These are likely to have similar effects as to interlock directorships. Managers take advice from both their interlock partners and professional firms when deciding how much to pay. Financing an MA Organizations use various methods for financing an MA deal. Often combinations of the below mentioned methods: Cash Cash payments. These are normally preferred since the organization does not have to dilute equity and there will be no change in the number of shares outstanding. Also cash transactions save time and cash can be re-invested at the face value. Financing Financing capital may be borrowed from banks or raised from issue of bonds. Acquisitions that are financed through debt are called as leveraged buyouts if they take the target private, and the debt will often be moved down into the balance sheet of the acquired company. Hybrids An acquisition can involve a combination of cash and debt or of cash and stock of the purchasing entity. POST ACQUISITION INTEGRATION After the acquisition is completed, the acquired company needs to be integrated with the acquiring company. The process of integration actually needs to be planned during the acquisition itself to ensure that the company integrates smoothly. The success of integration also depends on the managers who are responsible for the implementation. Planning The acquiring company needs to plan the post acquisition integration period. IN the initial period the target company is more receptive to drastic changes to make the company viable. Some of the basic approaches are as follows Adapting a program This should be completely aligned with the companies goals and objectives of the company and should also take into account the limitations of the company. Effective organization and leadership structure The integration process involves creating a group which focuses on creating value through specific activities and actions. A true partnership would mean involving the senior leadership of the acquired company as well in this strategic group. Minimize post acquisition exodus of critical resources It is critical to have a preventing plan in place to minimize the damage that maybe caused to the new enterprise. Any loss of critical things like market standing, key employees, brand has to be avoided. Employee issues The empl