Marriott Case Hbs

Issue In this assignment, we are asked to compute the WACC of Marriott Corporation and each of the company’s three divisions. Our approach is outlined in the next section. We made a series of assumptions regarding either the available data or the missing information. This has been explained below, in a separate section. Approach We applied the following formulae to calculate the WACC: Our assumptions are explained in the next section. The table below presents the approach for calculations at corporation level and division level according to each of the variables. Marriott’s capital structure comprises debt (fixed and floating) and equity. Marriott CorporationBusiness Lines 1Beta of Debt (?  ¬Ã‚ ¬d)Computed using correlation between S&P500 returns and HG Corp Bonds (recent history is implicitly more weighted), s. d. of the S&P500 and s. d. of the HG Corp Bonds (Exhibit 4)Same 2Risk-Free RateEstimated to be equal to 10y US Gov Interest Rate as of April 1988 (Table B)Same 3Current LeverageUsing financial statements (Exhibit 1), we estimated the market value of debt and divided by market value of assets. Market value of debt is estimated to be equal to its book value. Market value of assets is equal to market value of debt + market value of equity (number of outstanding shares * price per share)N/A 4Market Risk PremiumFrom table of returns (Exhibit 5), taken as the average of spread between rates of return for S&P500 and LT US Gov Bonds, 1926-87Same 5Tax RateEstimated from data in exhibit 1, from ratio between income before tax and net income for year 1987Same 6Beta of Equity (? E), Unlevered ? E Levered can be found in Exhibit 3 for the current debt load. Using the current leverage ratio (Step 3), we calculate the unlevered ? E. Having found unlevered equity betas of comparables from their leverage ratio and levered ? E (Exhibit 3), we averaged the unlevered ? E to get the unlevered ? E for each Marriott division. Restaurants division was mapped on Restaurants comparables, Lodging on Hotels whilst Contract Services was implied from Marriott’s and other two divisions unlevered ? E and their respective share in total assets book value. 7Cost of Equity (RL)We recalculated the new Levered ? E based on target leverage of Marriott (Table A) then, combine the Levered ? E, risk free rate, and MRP to calculated the cost of equity using CAPM relationship. Same, except unlevered beta from previous step was used to calculate levered beta. 8Cost of Debt (RD)See step 7, using Beta DebtSame 9WACCWACC formula accounting for ITS correctionSame, respective target leverage ratios and a ? D equal to Marriott’s ? D were used to estimate WACC. Assumptions †¢Overall Assumptions: Although we assume an ITS, we do not have the data to calculate individual ITS for each division and Marriott. As a result, we assume E*=E (rather than E*=E+ITS) and that the ITS is as risky as debt. We assume debt is perpetual and no growth. Beta of Debt: Although Marriott is one firm, we assume it is fairly comparable to a generic HG Corp, with single A rating. Therefore we performed a linear regression on the rate of returns of HG Corporate Bonds against S&P 500 rate of returns, as a proxy of the market portfolio rate of returns. †¢Risk-free rate: The 10Yr UST is assumed to be the best estimate at company and division level. Ideally, each cash flow shou ld be discounted using a government bond with the same maturity. For this case, the selection of the maturity should one that matches best the entire cash flow stream being valued. Also, 1Yr rate is very volatile and 30Y illiquid and thus there is premium built therein. We have assumed that the rates provided in Table B are for zero-coupon bonds, and USD. †¢Current leverage: Market value of debt is estimated to be equal to its book value. The firm is HG, risk premium for HG bonds is relatively low, and we have no information on coupon level of fixed rate debt. The floating rate debt is likely to trade close to par. For subsequent calculations, we also assumed the average maturity at five years. There is only long-term debt for us to consider. Market risk premium: In the same fashion that we estimate the risk free rate benchmark is 10y UST Bond Interest Rate, so we used the difference of average returns between LT UST Bonds and S&P 500 for the period 1926-87, the longest history available we have. We are aware of the imperfection of using historical rates of return. †¢Average corporate tax rate: We assume that the rate calculated as the average rate ap plied to 1987 is a reasonable proxy for future tax rate. Tax rate is applicable across divisions. †¢Cost of Debt: S&P 500 is also considered to be best proxy available for market portfolio. We also assumed no financial distress, which is reasonable because firm has real assets and overhead cost is 3% of revenue. Competitors and divisions have the same debt beta as Marriott: †¢Beta equity of each division: it has been assumed that the unlevered beta equity of each division is comparable to the average of unlevered beta equity of the comparables identified in the case for each relevant business segment. †¢Weighted average of book value of assets was used to determine the unlevered beta of Contract Division, we assumed this to be a reasonable proxy instead of market value of assets.

Strategy of Apple Brand

INTERNATIONAL BUSINESS STRATEGY OF PARENT COMPANY When a firm decides to go international with their business they must face many competitive decisions. Two of the most important decisions a company will face are the pressures for cost reduction and pressures for local responsiveness. The pressure of cost reduction forces a firm to lower their value of the cost of creation. Firms can outsource to places where costs of their products are much cheaper or they can mass-produce a standardized product in one location. A firm must have the feeling of local representation.Every country has its own way of life. If a company does not adhere to each country’s differences in traditional business practices, distribution channels, and the demands from the host government, there will be no reason going international. Customers in different countries all hold to their own ways of doings things. It is important for a multinational firm to become aware of all traditions and rules in the countr ies of entry. There are four different strategies an international corporation can choose from. They are global standardization, localization, transnational and international.Each strategy leads to the deciding factor that firms will use to determine the amount of pressures for cost reduction and local responsiveness. Global standardization is used to increase profitability by obtaining cost reductions through economies of scale. A firm whom wants to pursue a low-cost strategy on a global scale will normally offer a product that can be mass-produced at a low cost. A localization strategy offers a product that is custom to the host country. The product satisfies the countries preferences and taste. The third strategy is transnational.It is used when the firm is faced with strong pressures for both reduction and localization. This strategy is hardly used when competitors are in the market because it is hard for a firm to please the local tastes and preferences of its customers at a lo w cost. The last strategy is international. This strategy is used when firms are confronted with low pressures for both cost reductions and local responsiveness. This strategy is scarcely used when competition enters the market. With each strategy, business can find which one works best for their organization. Also Case Study will describe why Apple Inc. is a very successful company.Companies will decide to go international depending on the country it chooses to enter and the amount of profit it can earn. In corporate strategy there are two types of diversification, linked and constrained. â€Å"Companies using linked diversification, enter new businesses when it relates in some way to another business they are already in but it does not necessarily have any connection to their other businesses. If they are using constrained diversification, they only enter a new business if it is based on their core resources or competencies.Companies based on linked diversification have little coherence to their overall corporate strategy, while companies using constrained diversification tend to be more focused. Constrained diversification allows companies to maximize the effect of their resources because they are shared (100). † Apple is a personal computer, hardware and software company, inhere ntly leading to use constrained diversification because they utilize their competition and they share resources between businesses. For example iPods, iPads, iPhones, MacBooks and Apple TVs all run on the same operating system.This intends customers to link their music with laptops, TVs, cell phones and other Apple products. This allows for a more appealing product to the customer. Apple is saving money by sharing resources throughout their multinational business. The product of Apple has such a distinct business that competitors have not been able to match their techniques. Each electronic device is unique, allowing for them to be used anywhere in the world and each is different from any of its competitors. Apple’s goal for a mobile business is to be fundamentally innovated and differentiable.It does not concentrate on the size of its industry because it maintains strong profit margins that have high percentages in the industry’s profit share. Apple does not focus on the quantity of its products but the quality and relevance. â€Å". Peter Drucker wrote that â€Å"What makes the future happen is always a business’s embodiment of an idea of a different economy, a different technology, a different society. It need not be a big idea; but it must be one that differs from the norm of today†. This means defining what the devices are (e. . , a pocket-sized device, or a tablet-sized device), and what they do. Apple must do this through constant innovation. † Apple has secured itself as the industry innovator and a position of strength by constantly defining what their products are and what their products do. Since Apple is continuously redefining the industry, they do not need an overwhelming market share. Apple can dominate the market through their intelligence of inventing new electronics and the respect they have for their customers.Apple’s basic business model is to sell hardware; every other product, iTunes, Apps, operat ing systems, is to make their hardware more valuable. The main goal of this strategy is to maximize the value of the firm. Customers are willing to pay high prices to obtain products of high value and high quality. Within an international business setting, firms are competing to receive the highest profit against one another. Apple is competing at a differentiation strategy. They increase the attractiveness of their products, making the products stand out so customers will purchase their products over another.Apple’s strategic positioning choice is to have high valued electronics that all customers want. Apple products are unique compared to the rest of the world. This allows Apple to charge a higher price. Many people are willing to buy Apple products because they are well produced, have a high quality and are known as a luxury item to the customers of Apple. Apple’s main goal is to maximize all values for the firm. This includes increasing shareholder value in a lega l, ethical and a socially responsible manner. Managers can increase the profitability of a firm by pursuing strategies that lower costs or by pursuing strategies that add value to the firm’s products. Managers can also increase the rate at which the firm’s profits grow over time by pursuing strategies to sell more products in existing markets or by pursuing strategies to enter new markets†. Apple is always looking at new ways to increase its value and shareholder profit. Our main strategy to increase profit is to add value, raise prices and to enter new markets.

Business Plan Of Slice Bakery Management Essay

Business Plan Of Slice Bakery Management Essay Introduction Slice Bakery and Juices is a start up juice and bakery retail establishment located in down town Nairobi. Slice bakers expects to catch the interest of a regular loyal customer base with its wide variety of fresh juices and freshly baked cakes and bread. Slice Bakery and Juices plans to construct a strong market position in the city due to the partners’ industry experience in the area. The establishment aims to offer its services and products at a reasonably competitive price to meet the demand of the middle and high area residents and tourists. The Company Slice Bakery and Juices is incorporated in the city of Nairobi. It is equally owned and managed by its three partners. Mr. David Williams has extensive experience in marketing, sales and management and was the vice chairman of Eveready Batteries and Harper foods. Mr. Arnold Mwangi is experienced in finance and administration and was previously the chief financial officer with both Luigi’s Cafà © and Wi lly Pastries. Mrs. Felicia Wanjiku is a well respected pastry chef with vast knowledge and experience in the field, she formerly worked at Lagoon beach resort in the Kenyan coast as the head pastry chef. The organization intends to hire 2 full time pastry cooks and four part time baristas to serve customers and perform the day to day operations. Products and Services Slice Bakery and Juices offers a vast range of freshly made fruit and vegetable juice varieties that are brought into the city from various parts of the continent. The company caters to all of its customers by serving each of them a carefully made drink that is specifically tailored to the customers order. The bakery side of the company provides a wide array of freshly prepared bread and cake varieties at all times during business hours. Ten to twelve moderately sized batches of assorted bread and cakes are prepared during the day to assure the availability of freshly baked products at all times. The Market The Fresh ju ice industry in Nairobi has recently experienced very fast growth. The worm equatorial temperature in Nairobi stimulates the regular consumption of cool drinks. Slice Bakery and Juices wants to establish a large regular customer base and it will achieve this by concentrating its marketing and business on local residents, which will be the organizations target market. This will create a healthy, stable revenue base that will ensure the stability of Slice Bakery. In addition tourists are expected to comprise aproximately25% of the total revenue collected. Good visibility and competitive products and services are crucial in order to capture this segment of the market. Financial Considerations Slice Bakery and Juices is expected to raise $90,000 of its own capital and to borrow $110,000 guaranteed by the National Bank of Kenya s a ten year loan. The company anticipates sales of around $485,000 in the first year, $570,000 in the second year and $660,000 in the third year. The organizatio n should break even by the fourth month of business as it steadily increases its revenue. Profits for this period are anticipated to be approximately $12,000 in year one, $31,000 by year two and $48,000 by year three. Slice bakers does not expect cash flow problems

ECONOMICS FOR GLOBAL BUSINESS Essay Example | Topics and Well Written Essays - 1250 words

ECONOMICS FOR GLOBAL BUSINESS - Essay Example The general prognosis is that even though the Irish economy had in the recent past undergone a massive cratering, it has been on a slow but steady path towards sustained growth. The fact that it is ranked so highly in terms of economic freedom augurs well for the general condition of the Irish economy. That freedom, it is said, is based on a stable legal climate that has a deep tradition of respecting rights related to property, as well as a regulatory environment that is conducive to openness in business as well as in terms of supporting Ireland’s efforts to make its economy competitive in the global economic arena (The Heritage Foundation 2012). That general climate is characterized by several key strengths in key areas such as the rule of law, the role of government, efficiency in regulation, and openness of markets. The legal environment, for one is said to be robust and stable, with Ireland having the reputation of having one of the most stringent regimes for the protecti on of intellectual property rights, as well as in the securing and honoring of contracts. Moreover, the regard for law extends to a low level of corruption in the country, making the country a favorable destination for those wanting to deal with a clean and honest government. Meanwhile, as far as government is concerned, its recent levels of spending have been cited to reach a total of close to 50 percent of the country’s Gross Domestic Product or GDP, resulting in the ballooning of the country’s deficit. The level of public debt of the country, as a result also, has reached levels equal to about 90 percent of the country’s GDP. The government has come to impose a tax on all business activities amounting to about 28 percent of the GDP, with income taxes at 41 percent, corporate taxes at 12.5 percent, and consumption taxes making up a substantial portion of total tax revenues as well, in the form of VAT and taxes on capital gains. Meanwhile, the government is sai d to have done well keeping monetary policies relatively stable, while at the same time fixing macroeconomics so that costs of labor are reasonable, costs of business establishment are minimal, and red tape associated with the conduct of business likewise being considered minimal. In terms of market openness, meanwhile, the facts are that tariff rates for products entering Ireland have been considered lower in comparison to other EU states, even as barriers that are not related to tariff are substantial, and somewhat negate the lower tariff regime in the country. Investors are treated relatively with parity regardless of whether investors are local or foreign, in an environment where the Irish government seems to have done well to make the investment climate efficient. The recent past has seen the country cave in because of the financial crisis tied to the property bubble there and elsewhere, as the banking system in Ireland had been similarly overexposed alongside banks in the othe r EU states, but as of 2012 the banks have been noted to have achieved a certain level of capitalization

The California-Riverside Community Garden Essay

The California-Riverside Community Garden - Essay Example The purpose of establishing a garden within the campus was to ensure that the university and the community members had a place where they could grow fruits and vegetables. The location of the UCR community garden is next to the parking lot 30 close to the corner of Canyon Crest Drive, and Martin Luther King Boulevard. Notably, the Riverside region in California has a history of rigorous real estate activities. The California-Riverside community is one of the regions that experienced numerous adverse effects of the economic crisis. This factor triggered many community members to rely on soup kitchens and food banks. However, the main challenge was that the community lacked supplies of fresh produce. One of the graduates from the university named Fortino Morales initiated the idea of setting aside some space within the University for a Community Garden. In order to ensure that the idea was viable, the community coordinated by students from the University and carried a pilot project in 2009. Notably, the project faced certain challenges but proved to be successful (French). Currently, the university has a three-acre community garden that serves as evidence that the students and the community are promoters of the environmental agenda, as well as the global food initiatives. The University has proven to be environmentally friendly because of establishing this garden. When I visited the garden, a great percentage was all green while the remaining percentage was under preparation for planting. Fortino Morales, the concept developer of the UCR community garden envisioned an innovative project that would take place in phases. For this reason, the project began with a quarter an acre and later expanded to a current three acres. The garden has numerous plots ready for use by either the community members or students. Individuals willing to use the plots can access tools, seeds, as well as water free of charge. In addition, the compost used in the plots comes from the UCR dining services (French). For this reason, the community garden supports the recycling of kitchen wastes, which is a strategy of protecting the environment.

Manish or not Essay Example | Topics and Well Written Essays - 2500 words

Manish or not - Essay Example The styles of the era created a softer, more feminized version of men’s wear exemplifying the growth of feminism as young men, admittedly as much in rebellion against older generations, were seeking to understand the mystical sense of the ’Otherness’ of the female gender. As the sexual revolution was creating a confusion within the defining factors of gender identification, embracing both aspects of the human experience became popularized and reflected in cultural art and design. In looking at â€Å"Mr. Fish†, the design, texture, and construction of the suit creates the soft aspects of the feminine, while adapting the integrity of a male perspective in clothing. While the experimental periods of the 1960’s and 1970’s was curbed with the onset of the AIDS epidemic in the early 1980’s, the philosophical and theoretical discourse on sexuality that has interwoven identity with sexual desire and expressions has created an environment of on -going contemplation of the meaning of gender within the framework of the human experience. The concept of gender as compared to the concept of sex has been defined as one having to do with cultural and psychological identification, and the other having to do with biological identification. When the physical attributes of an individual does not match the culturally accepted behaviors that identify them as the gender associated with those behaviors, the individual finds themselves in a situation of that is not ideal for socialization. However, the 1960’s saw a time where the cultural norms associating gender to sex were blurred, creating an effect that was reflected in art and design. In looking at the displayed garment â€Å"Mr. Fish† which resides at the Victoria and Albert Museum in London, an example of 1960’s design with overtones of androgyny allows for a discussion of gender identity, cultural reflection and philosophy. The

Differences and Similitarities between Mozart and Beethovens early and Essay

Differences and Similitarities between Mozart and Beethovens early and late Symphonies - Essay Example Additionally, personal differences, in terms of lifestyles also contributed to the differences in their symphonies. Thus, the following are the differences and Similarities between Mozart and Beethovens early and late Symphonies: Similarities between Mozart and Beethovens early Symphonies Mozart and Beethovens early Symphonies were similar in various ways. First, their early symphonies are characterized by the application of Sonata form, which was the main musical structure that characterized the classical music era (Keefe, 66). The two composers applied Sonata form in almost every of their works, only that it could be combined with other forms of music structure such as the Rondo and the variation forms. The examples that can depict the use of the sonata form in their early works are the Mozart’s K 296 composition and Beethoven’s Piano quartets, also referred to as the WoO 36 (Will, 55). These are some of the earlier compositions by these two musical composers, which d epict the application of sonata form, almost in a very identical way. The application of sonata form as a musical structure by the two composers in these two earlier works is depicted by the division of the compositions into three sections. Both the K-296 symphony, which was composed in 1781 by Mozart and the WoO36 Piano quartet’s symphony, which was composed by Beethoven before 1792, displays the classification of the composition into the exposition, a development and a recapitulation sections (Will, 44). These symphonies entail the presentation of a transition, from how the tonal material of the compositions are organized in harmony at the exposition section, then developed into elaboration and contrast at the development section, and finally harmonized and resolved to create a harmoniously integrated rhythm at the recapitulation section (Keefe, 68). This musical structure starts with a harmonized and simplified tonal stability at the exposition section, then enters the dev elopment section where more tension is build, and complex tonal textures, far-ranging key changes and highly agitated rhythms are developed, to create the climax of the musical composition at the development section, and finally enters the recapitulation section, where the tension and tonal complexity is reduced, resulting to a cool harmonious finishing rhythm (Will, 41). These are the major characteristics of Mozart’s K 296 composition and Beethoven’s Piano quartets, which are some of their earlier works. Differences between Mozart and Beethovens early Symphonies There are notable differences between Mozart’s and Beethoven’s early symphonies. The difference emanates from the fact that while Mozart was a musical composer of his own making, Beethoven’s musical composition were a hybrid of Mozart’s and other artists’ style. In developing his symphonies, Beethoven was particularly influenced by Mozart on one hand and Joseph Haydn on the other (Keefe, 72). Therefore, he combined their musical composition styles to create a hybrid, which he then gave his own personality. This led to a development of a unique stylistic composition that was different from those of his influencers. Therefore, Mozart’s and Beethoven’s early symphonies were different in that, while Mozart observed musical rules and played within the confines of harmony and smooth transition of keys and rhythm, Beethoven adapted the style of

Macroeconomics Term Paper Example | Topics and Well Written Essays - 1500 words

Macroeconomics - Term Paper Example At present, the national debt is $8.8 trillion and is increasing at nearly $2 billion per day (Hall, 2007). If Congress does not control its overspending through measures such as passing a balanced budget amendment to the Constitution and adhering to it, the country’s economic future is in deep peril. This discussion will provide an overview of the federal budget process and outline the disastrous consequences of continuing to be a debtor nation. The President submits a proposed budget to Congress in early February for the coming fiscal year that runs from October 1 to September 30. The President’s budget request to Congress accomplishes two main objectives. First, it relays the President’s opinion of how much should be taken in via taxation and how much should be spent. Second, it prioritizes the President’s present and future federal funding desires. â€Å"The budget typically sketches out fiscal policy and budget priorities not only for the coming year but for the next five years or more† (Coven & Kogan, 2006). When Congress receives the President’s budget, it usually conducts hearings to discuss many of the requests before developing a budget resolution. This is the budgetary parameters that Congress will work within when making their determinations regarding taxes and spending. The budget resolution, drafted by both Senate and House Budget Committees includes both mandatory and discret ionary spending goals. Following committee approval, the resolution is submitted for a vote and possible amendments by the entire membership of the Senate and House. Afterwards, a joint House-Senate committee is convened to resolve any disparities in the resolution of the two versions passed by each house of congress. The resulting joint report is sent back to both houses for a vote. Congress can choose to employ a procedure known as

Mergers and Acquisitions Essay Example | Topics and Well Written Essays - 1000 words

Mergers and Acquisitions - Essay Example The potential merger was based upon the assumption that this merger will actually result into an over $1 billion in terms of cost savings as well as revenue increase for the American Airways.1 The formal process of merger and acquisition started during the start of 2013 and it was believed that this merger actually resulted into the creation of the largest airline in the world. The overall deal was finalized in December 2013 and American Airways formally acquired the firm This paper will discuss and explore the reasons behind this merger, the circumstances which actually led to the merger, the positive as well as negative impacts of the merger besides discussing whether the HR practices of the firm were modified to ensure that the overall outcomes of the merger and acquisition were achieved. 9/11 was one of the key events in the history of American airline industry as for the first time, airplanes were used weapons. Strong security concerns resulted into sharp decline in the passenger traffic and loss of revenue. (Rhoades & Waguespack Jr, 2004). Apart from this, the economic events which occurred after 2007 also resulted into an strong decline the profitability as well as the revenue of the major airlines in the industry. Owing to these factors, American Airline filed chapter 11 bankruptcy ad sought protection against the same. As a result of the Chapter 11 Bankruptcy protection, it was considered that the American Airlines may suitably merge with other airline in order to come out of the bankruptcy and pay back to its creditors. As such one of the reasons for entering into this merger and acquisition was to avoid the complete bankruptcy and find suitable buyer who can ensure that the creditors are paid back. As per the agreement, 72% of the shares of the American airli ne were acquired by US Airways and the remaining 28% were held by the existing shareholders of the firm. Another important reason for the merger was the cost

Firoozeh Dumas Essay Example for Free

Firoozeh Dumas Essay To deny someone and education is not just a crime but a sin, because you are denying that person the opportunity to realize who he or she is meant to be. This quote represents Firoozeh Dumass view on learning and becoming the person that she is today. Through her hardships, struggles, good times and the bad times, she has matured and learned a great deal. In the autobiography Funny in Farsi by Firoozeh Dumas, the themes or clashing cultures, new environments, and learning through experience comes into play. The story begins as Firoozeh moves with her family to the United States in 1972, as a seven-year-old. From the moment her airplane lands, she starts to see differences; not only in the geography of the land and the appearance of the people, but the look of the whole place. She is used to bustling cities in Iran, crowded with enthusiastic workers, shoppers, and people socializing. In contrast, her new neighborhood in America seemed fairly unexciting; she describes it as uniformed houses, all the lawns in perfect order, as if everything was constantly being maintained to achieve the ideal look. But little did she know that this was only the beginning of differences. Entering a new school would open a whole other orbit of biculturalism. As she enters school, she sees everyone; completely different looking from her, and all of them fluent in English. Curious classmates peered around her desk, examining her from head to toe trying to figure out who she is; what type of creature she is and where she comes from. To make things even worse, Firoozeh’s mother decides to attend school with her, to learn proper English. This leads to ultimate humiliation for Firoozeh. Not only is she an immigrant student, but an immigrant student with her mother in elementary school with her. Students constantly ask her where she comes from, as if shes an alien of some sort. She slowly learns to respond by saying You know, the country where Persian cats come from. She hopes to one day learn English properly so she can fit in and communicate with her fellow students. Her first day is completely confusing as she tries to embrace all that is happening around her. On the way home, the bus driver drops Firoozeh and her mother a few blocks away from their house. Not so familiar with the location, they get further confused and cant recognize their own home. To them, the homes all look alike, and cant distinguish their own from the rest. These incidents represent the difficulties that Firoozeh goes through in her first couple of months in America. However, after a couple of months time, she learns more and more about the American culture and believes she is on her way to Americanization. During summer vacation, the family celebrates their first year completed in America by voyaging to Disneyland. Being a child, Firoozeh is completely star-struck and amazed by the tiny world created for the sole purpose of entertaining people. All her favorite Disney characters that she had only heard the names of in Iran were now walking amongst her in real life! Firoozeh wasnt the only one who enjoyed herself. Her father Kauzem described Walt Disney as a genius, a man whose vision allowed everyone, regardless of age, to relive the wonderment of childhood. (p. 17) Their lives in America seemed to be improving, until the Iranian Revolution ten years later. Firoozeh, now a seventeen year old, was again suffering from racism everywhere she went. People were now staring at her again, questioning her and calling her a terrorist, just because of what was happening in her country. The pain of not fitting in was now something she became accustomed to, and she decided to overcome it by further educating herself. She was thankful to have the opportunity to be educated, and she wanted to take advantage of her chance. Firoozeh spent high school learning French, until she got fluent in it. She was offered an opportunity to travel to Paris for two months because of her immense skill and fluency at the language. There, she again faces racism, where she is interviewed and labeled as a seventeen-year-old spy. She begins to ignore the racism around her, and advances in her studies. From education, she learns who she really is. The strength is now ingrained in her and she knows who she is: a young Iranian woman who has succeeded through many hardships. Nothing can stop her from learning, the main factor that helped her develop her personality. The main conflict she faces over and over again throughout the story is intense racism and not being able to fit in with every other American. By end, she realizes that by using education she can overcome all her struggles. Firoozeh Dumas ends up marrying a Frenchman who she meets in college, and they both live happily together. She realizes that her own encouragement and drive to study has brought her all the way to college, and finds her a perfect partner. As she said before, education is what helps a person realize what they are meant to be. In my opinion, the character goes through many hardships; and just as things begin to turn up, she again falls into another political conflict because of the Iranian Revolution. With these multiple problems she has to face, she realizes that one key factor can help her survive through it all: education. She knew that as long as she kept studying and taking advantage of the right of education, she will succeed; and she did. I think she dealt with her hardships perfectly and came out extremely strong at the end. This book is an ideal representation of an immigrant girl coming from Iran. It shows the perfect perspective of what someone like Firoozeh might think, and the problems they will face. It gives an opportunity for the reader to advance their knowledge on a new culture, to see an Iranian immigrant’s point of view. By adding some humor in the story, it becomes even more entertaining and interesting to learn about Firoozeh’s struggles. This book has given me an increased amount of respect for people who come from a different country. Firoozeh’s education helped her go extremely far and be successful in life, and I hope the same will happen to me because Im blessed with the right of education that Firoozeh describes.

Creative Imaging within Misleading Advertising in Military

Creative Imaging within Misleading Advertising in Military  ­Review of literature This chapter provides a discussion of the related concepts linked to the aims and objectives of the research as highlighted in Chapter 1. An initial mindset diagram (figure 1) highlighted relevant areas. The concepts or ideas have now been prioritized to include the following. The purpose of the literature review is to show an understanding of the basic concepts of the research and to highlight possible areas for the primary research. To begin with the concept of misleading advertising in the military is addressed for this chapter, Advertising is one of the crucial recruiting tools used by the military services in support of the all-volunteer force.   I feel strongly that the military isnt being advertised appropriately, whenever the real horrors of war are kept secret to todays society. Recruiters using advertisement in the military Military recruiters depend on the immature status of their prey to capture them with false promise. The highest calling of any society is to protect the youth from any danger. Our society today is failing to recognize this call. Clinic Rutgers school of law (2008) highlights that Recruiters insinuate themselves in teenagers lives without their parents knowledge. The interest of parents in the care, custody, and control of their children-is perhaps the oldest of the fundamental liberty interests recognized in our countrys laws. These fundamental rights include a constitutionally protected zone in which parents can direct the upbringing and education of children under their control, without hindrance from the government. https://law.newark.rutgers.edu/files/u/MilitaryRecruitingReportConLitFinal.pdf Sackett (2004) states that In the late 1990s, the U.S. armed forces struggled to meet their recruiting goals and in some cases fell short. This led to the question of how the recruiting process and the recruiters job could be better supported in order to ensure that force strength, force quality and the required skill mix of personnel will be available to meet every changing security and defense challenges.   Military officials recognized that a fundamental understanding of the youth population and of the effectiveness of various advertising and recruiting strategies used to attract them would be extremely valuable in addressing these questions. Clinic Rutgers school of law (2008) highlights that Funding for military recruitment is on the raise. The 2009 military advertising budget totals $20.5 billion. This money is used for slick ads and video games designed by the same marketing firms that create commercials for major corporations, such as Coca Cola, McDonalds and Nintendo. I find this very paragraph very interesting as it talks about different advertising firms that done commercials for Coca Cola which is very different from the ads for the military. https://law.newark.rutgers.edu/files/u/MilitaryRecruitingReportConLitFinal.pdf The military has a comfortable relationship with the entertainment industry for many years now, providing open door base material, contact and consultation to movie studios. Evans (2008) quotes We may think that the content of American movies is free from government interference, but in fact, the Pentagon has been telling filmmakers what to say and what not to say for decades. Its Hollywoods dirtiest little secret. http://www.ringnebula.com/Oil/recruiting-children.htm This message evaluates the property of advertising on recruiting, given that quantitative estimates of the relative helpfulness of Navy, Army, Marine Corps, Air Force and joint advertising programs. The findings indicate the army services achieve enlistments from extra advertisement, and the goods of any branch do not seem to come at the cost (in terms of lost recruits) of any other. Sackett (2004) wrote the development of an advertising campaign for the military. The framework involves (1) tracking the competitive environment for military recruitment to detect factors affecting youth understand and views of military service; (2) examination of audience member beliefs, goals and language; (3) development of a range of message strategies for military recruitment (4) allocation of resources to advertising message strategies. Here I have included an image that I have collected off Google Images of a soldier in duty. The Photographer and Director have been very creative and smart with their work. They have modeled this person to look controlling and passionate in their act of duty. The image gives a real surreal atmosphere with the dark gloomy and moody colours. The settings surrounding this soldier are making him stand out even more. The facial expression shows deep concentration. He is alert and ready for combat but what these television ads never show is any actions or glimpse of battle, just a proud soldier holding a weapon. Video Games       After discovering their use as both recruitment and as military training, The military has reinforced progress of PC war game software, for example; Close Combat: First to Fight this game was created by the military, and targeted for teens. Military recruiters ability to affect young people is seriously enhanced by fascinating imagery shown in the various promotional materials that they bring to schools, including brochures, DVDs, and video games. Dertouzos (2003) points out In recent years, the Department of Defense (DoD) has been spending more than $100 million annually on advertising to support recruiting. It talks about them being successful with involving the youth within the military. For example here is Dertouzos (2003) stating that Advertising has been effective in increasing numbers of high quality enlistments ie, high school seniors or graduates who score in the upper half of the Armed Forces Qualification Test. Evans (2008) highlights that Another success story, in terms of the number of teens and young adults participating, is the US Armys video game project Americas Army, accessed by several million players as of 2007. Americas Army is a highly graphic, fast paced and graphically violent battle simulation for youthful players. The army states that the game is for growing adults, but it is freely available on the Internet without age restriction and is widely distributed to children. http://www.ringnebula.com/Oil/recruiting-children.htm Sackett (2004) highlights the importance of targeting young people The youth population should be a key objective for the military. I included this paragraph from Evaluating Military Advertising and Recruiting book because it will be very helpful when I go to write my next chapter, it talks about the military targeting the youth as their main components to join the military. Military video games are the main tool of educations future by irritating men to bring out all real rampages. Gunter (1998) points out that Throughout the 1990s, increasing numbers of newspaper headlines have highlighted scare stories about violent and horrific video games, aimed at children and teenagers, with themes that emphasize murder and mayhem. It shows that video games within the military has gone viral throughout the social media and can be accessed by any person at any age which is concerning. This is a worrying issue that needs to be spoken out for they are giving the wrong message out to the young men and women to advertise the military. Video games have the attention of the youth and can educate as well as entertain. Its good enough for entertainment, but should war be sterilized and glorified in this way? No it should not! The real horrors need to be made very public and clear. The military advertisement is very clever because how they use the creative side to military video games is the intense graphics. It automatically grabs the viewers attention straight away. They include and pay so much attention to detail that its distracting you from the main message. As you can see I have included a few photographs at the bottom of this section of different military games that I collected off Pinterest. The bold and sharp colours catch your eye immediately which pulls the audience in. They use creative imaging by include so much detail within the background with explosives / smoke and fire, making the soldiers look extremely powerful that nothing could harm or come in contact with them, but in reality they would be killed immediately. With all the smoke blocking and distracting their sight and concentration, that would be giving their enemy an opportunity to shoot and kill. I find it interesting that they have managed to set two different scenes within the creative imaging for example in the other photograph, I find it has a very relaxed and peaceful appearance compared to the graphics beforehand. The colours are a lot more dulled down and calm and dont have such excitement added to the atmosphere, the designers has paid a lot of attention to detail trying to suit the viewers needs by making them comfortable with the games due to the graphics. Though the intense graphics do not betray the truth to the realities of war. Women in the Military Many debate that due to recent conflict, women already serve in combat roles, their service is not formally acknowledged, it obstructs their qualified development and admission to some benefits. Clinic Rutgers school of law (2008) argues that Recruiters give female students the impression that they will be out of harms way. While women do not serve in front line combat positions, they work some of the most dangerous jobs at the front lines. Female students are not informed about the dangers of sexual assault and harassment. Of women receiving care from the Veterans Administration, 23% reported sexual assault and 55% reported harassment during their service. Furthermore, women report higher rates of psychological disorders than men. https://law.newark.rutgers.edu/files/u/MilitaryRecruitingReportConLitFinal.pdf I have included two photographs of women in the military that I collected from Pinterest. What stands out about these two photographs is the person behind the uniform. How these photographs relate to the creative imaging side is how the Photographer have directed these women and modeled them as a strong independent solider. But what these photographs never show is women in their act of duty in the military lifestyle. On the second photograph I find it has a very intense atmosphere with the dark moody background colour, it really sets a strong contrast between the soldier and the background. It makes her personality stand out and her facial expression show more, it almost has film scenery to this photograph with the bold graphics. Mental Health One area of the military that needs to be addressed is the mental health that effects the soldiers lifestyle during and after war. Mental health is a big part of our lives for it reflects on how we control our thinking and the way we react to life.   For it helps decides how we adapt to a variety of requirements, connect to others and make choices. Mental health problems are not a sign of weakness. The reality is that it affects the strong and the brave just like everyone else. Scott (2013) states One in three returning warriors has or is likely to develop serious mental health and / or psychological issues that make it difficult for them to adjust to a normal environment. Mood disorders may affect anyone at any time, but soldiers are at a particularly greater threat for developing conditions such as major depression disorder (MDD) and post-traumatic stress disorder (PTSD). As I was collecting my research I came across a list of the most common side effects of Depression disorder and Post-traumatic stress disorder that Scott (2013) included; Excessive Fatigue (tiredness) Concentration problems Irritability Vision change Reduced reaction time Decision-making difficulties Decreased memory and forgetfulness Attention and concentration difficulties Confused about recent events Repeating of thoughts and questions Personality changes Impulsiveness Anger Feeling as though a certain event is happening again Having nightmares of terrifying events and night sweats Feeling distant from those you previously felt close to Feeling more aggressive or even violent Contemplating suicide Feelings of guilt Sadness Depression Nervousness Changes in sleep patterns I have included two photographs that I researched online the internet (Google Images) that relate to this section on Mental Health. These two photographs give a different message each. One shows a soldier fighting against mental health and the other shows a soldier breaking down from fighting against mental health. For the first poster, the designer has used creative imaging by using typography. The typography is large and bold and contrasts strongly against the background. The colours that have been used on the background have an interesting effect to the poster, the smoky pattern brightens it up against the black. The design is succesful is a sense with all the colours and large text making it eye catching to the viewer. The designer has been creative by modeling the soldier as if he is screaming / shouting, has an intense appearance to the image. For the second poster the designer has created completely different scenery, it gives a more depressing emotion with the dark dull colou rs used within the background. This photograph is successful as it sums up a big percentage of a soldier struggling against is his own mental health, not being able to cope with the wars they have witnessed.   

The Distribution of Ink-Printed Text Versus Hypertext :: Internet Net World Wide Web Media

The Distribution of Ink-Printed Text Versus Hypertext While browsing Radiohead's website (www.radiohead.com) one particular page of hypertext caught my eye. This page displayed was what looked to me like a scanned-in copy of ink-print text, which read: How To Construct a Dadaist Poem by Tristan Tzara. I had heard of Dadaism previous to this discovery, but hadn't the slightest idea about the man who had authored these simple instructions on how to construct a dadaist poem. So with the help of my mouse and keyboard I quickly erased the Radiohead URL (Internet address) and typed in that of a search engine called Hotbot (www.hotbot.com). After arriving at the homepage for Hotbot I typed my inquiry into the empty "search" box and the search engine immediately displayed a list of related homepages and topics on Tristan Tzara. I clicked on the first result entitled "Tzara" which led me to the homepage of The International Dada Archive. In reading-over the summary and history of the Dada artistic movement of the early twentieth century I began to see that many of its distinctive characteristics are the same characteristics found at the core of Radiohead's artistic movement; both groups, the Dadaists and Radiohead had/have an affinity for assaulting cultural values through live performances, and the distributing of leaflets, magazines, and newspapers. However, Radiohead has recently replaced the older method of distributing leaflets, magazines, and newspapers with the newer method of simply posting a website on the World Wide Web. Now, if an admirer or audience member wants to read Radiohead's poetry or view their latest artwork they only have to type Radiohead's URL (www.radiohead.com) into any browser and instantly it is delivered to the screen of their personal computer. The Dadaists and Radiohead both had/have an affinity for assaulting cultural values or in other words presenting their audience members with present-day cultural values in a way that made/makes those cultural values appear mundane. The Dadaists attacked cultural values through different types of live performances. "The real spirit of Dada was in events: cabaret performances, demonstrations, declarations, confrontations, the distribution of leaflets and of small magazines and newspapers... and actions which today we would call guerrilla theater." The Dadaists used a combination of live performance and the passing-out of ink-printed text on leaflets, magazines and newspapers to accomplish what they termed "...undermining and exposing what they saw as the stale cultural conventions of a decayed European Civilization..." (Shipe, International Dada Archive IDA).

Accelerated Reading :: Teaching Education

Accelerated Reading A.R. reading is the new choice of torture among teachers across the Issaquah School District (411). A.R. stands for Accelerated Reading. This is the process in which a student will take a vocabulary test at the beginning of the school year which will be graded. On this grading scale, students receive a reading range in which they are aloud to read books according to their difficulty level. As well as having to read according to what your reading level is, you have to also gain points by taking a test on the book you previously read. The number of points a book is worth has to do with its difficulty. For example; a book with a reading level of 10.5 with 390 pages and a character sizing of 10 point, might be worth 45 points. But a book with a reading level of 2.0 with 15 pages and a character size of 35, might be worth 1 point. In Ms. Hardy’s 4th period class, all students had to earn 60 points, 30 A.R., and 30 not A.R. this counts as 20 percent of your grade. When asked, "What is the point of A.R.?" Mr. Brown, a 7th and 8th grade woodshop and cooking teacher answered, "We love to see you suffer!" Honestly, A.R. really is pointless. Instead of forcing reading onto kids, teachers should make it fun. And teachers might even make it so it doesn’t make or break your grade. If you take the time to think about it, the average reading level is about 8.5. The average point level for a book is about the same, 8.5. The average person reads about two pages per minute, and the average number of pages for an 8 point book is about 300 to 350. Therefor, the average person would have to read about an hour a day, on top of the average amount of homework for each class which is about a half hour per class per day, so this adds up to about 3 to 4 hours of homework a day, not counting projects and studying for tests.

Afghanistan :: American America History

Afghanistan The King was overthrown in 1973. Muhammad Daoud took the power as President of the Afghanistan. He established an autocratic, one-party state, later had purged his government of leftists, and in the last years of his rule had sought financial support form Iran, ruled by the Shah, and Saudi Arabia in order to make Afghanistan less dependent on Soviet economic aid. On April 28, 1978, the regime of President Mohammad Daoud ended violently. Military units raided the Presidential Palace, in Kabul. Killed the president and most members of his family. All happened after the assassination of Mir Akbar Khyber, April 17, a Marxist ideologue a member of the Parcham faction of the People's Democratic Party of Afghanistan. (PDPA) was a Marxist-oriented party. On April 19 the party organized a mass rally and march in the honor of Khyber's funeral. Marched through the streets of Kabul and shouted anti-American slogans in front of the United States embassy. President Daoud ordered the arrest of seven top PDPA leaders. The PDPA Central committee member Hafizullah Amin was placed under house arrest shortly. He planed a coup d'etat. PDPA leaders were liberated from a government prison. The plan for the April coup, according to Amin in a press conference that it had occurred two years ahead of the PDPA's schedule for revolution. Taraki, Amin, and Karmal were the central player in the leftists' revolution of the Afghanistan. Taraki was born in 1917, was the oldest. His father was a livestock dealer and small-time smuggler. His family's described by Dupree in Nyrop (pg. 218) as semi nomadic, traveling frequently between Ghazini Province and British India. He attended a provincial elementary school and a middle school in Qandahar and was. He began to write short stories. In 1940s his stories refluxing the living condition of Afghan peasants, which approved by Soviet critics as Scientific Socialist themes. Amin was born in 1921, in Paghman, a town near Kabul. His father was a minor civil servant. After study mathematic and physics at Kabul University, he became a high school teacher and later promoted to the principal position. In 1957, through a scholarship he went to study at Teacher's College at Columbia University, in New York. He returned for further studies and that time he joined with students who were interested in Marxism. *Karmal, was born in 1929, a member of the social and political elite. He was a son of General Muhammad Hussain Khan, who served as governor of Pakita Province and had close ties with the royal family.

If girls should study separetly from boys Essay

This paper argues that single-sex public education brings more harms than benefits. The issue of single-sex public schooling in the U. S. has been in the centre of a heated debate recently. Some scholars and education practitioners argue that educating girls separately from boys results in healthier learning environment and psychological development of representatives of both genders. Along with presenting arguments and evidence in support of mixed gender education, this paper will also dismiss major theses put forward by the proponents of single-sex education. First of all, mixed gender education benefits both girls and boys since early encounter with persons of opposite sex helps children and teenagers shape healthier perceptions about gender roles and relations between genders. In the absence of information about representatives of different gender, various stereotypes and misperceptions develop. On the contrary, when boys and girls study together, they can observe peculiarities of male and female behavior and identity formation, thus learning to acknowledge and respect differences between genders. Secondly, single-sex education reinforces the notion that men and women are not fully equal as the participants of public life. If the differences between genders are regarded as too dramatic to educate boys and girls together, such approach presumes tat mean and women are too different to participate in other spheres of public life on equal grounds. However, the idea that has been consistently promoted throughout the 20th century was that women are also rational subject and are entitled to the same set of rights as men. Single sex education can thus be viewed as a step back in the historical development of our society. Thirdly, differences in learning styles are not necessarily an impediment to academic progress. Since boys and girls have different approach to educational process, coeducation can help to unleash the potential of the diversity of learning attitudes and experience. In such a way, ‘coeducation exposes all students to a range of male and female-oriented learning experiences. Importantly, boys and girls gain social maturity through valuable interactive play and shared learning’ (Ipswich Girls’ Grammar School, 2007, para. 2). The proponents of single sex schooling disagree with the aforementioned statement. They believe that differences in learning styles are best addressed when boys and girls study separately. Under such scenario, they argue, teachers can choose the most effective way of presenting the material and assessing students’ progress, since they have an opportunity to tailor their teaching manner to the needs of representatives of a particular gender. In support of their claim they cite evidence of better performance in single sex schools as compared with coeducational schools. In dismissing this evidence, two factors need to be taken into account. First of all, these studies measured only short-term impact on academic performance without paying due attention to the continuity and integrity of learning process. There may be fluctuations in performance indicators across districts, regions, and years. The proponents of single sex education fail to prove that educating girls separately from boys bring long-term academic benefits: As opposed to concurrent indicators of academic achievement, any positive effects of SS [single sex] schooling on longer-term indicators of academic achievement are not readily apparent’ (U. S. Department of Education, 2005, ‘Summary of Findings in Each Domain,’ ‘Long-term, quantifiable academic accomplishment’). On the contrary, differences in learning styles may sometimes lead to higher performance indicators as coeducation encourages representatives of both genders to study better. Since psychologically girls are more inclined to learning and academic environment, they set a certain level of achievement. Naturally, boys in the same classroom are pressured to live up to the standard: ‘While girls might set the benchmark in standards, once boys understand the required level, their competitive nature encourages them to strive for mastery, often leading to achievement levels beyond the benchmark’ (Ipswich Girls’ Grammar School, 2007, ‘Setting the bar’). As for the argument that single sex education raises self-esteem, especially in all-girls schools and classrooms, it can be contested, too. While short-term impact on self-esteem may be positive, long-term harms again outweigh all the perceived benefits. When boys and girls are educated separately, they get used to single sex environment and acquire social skills that helps them operate in such environment only. However, after graduation they are required to learn how to operate in mixed-gender environment, which can be stressful and diminish their chances to lead a full-fledged social life. In conclusion, it is necessary to say that the question of single sex v. coeducation should be further researched. It is one of the fundamental social policy debates that shape public life in our country – just like abortion, gun control, global warming, or euthanasia – and therefore it should be carefully considered and scrutinized before final decision on this issue is made.

Critically Assess the Uses and Limitations of Financial Statements Essay

Critically assess the uses and limitations of financial statements The definition for a financial statement is a written report which quantitatively describes the financial health of a company. (www. investorwords. com) It consists of a balance sheet, income statements and a cash flow statement. This essay will critically asses the uses and limitations of each of these types of financial statements for a business. A balance sheet shows the financial condition of a business at a specific date (Langemeier & Klinefelter 2008). It shows what is owned by the business, what is owed and the owner’s share (net worth) of the business. The balance sheet has three main uses. Firstly, it is used for reporting purposes as part of a limited company’s annual accounts. These must be shown to Companies House, HM Revenue and Customs and any shareholders unless agreed otherwise. It is also used to let potential investor’s or lenders asses the worth of a business at any given time. This way they can judge whether they think they should be investing money into the business according to how solvent the business is, how liquid its assets are, how the business is financed and how much capital is being used. Finally they can be used by the business itself to analyse how to improve its management. There are a few limitations of a balance sheet as some values of current assets are estimated (www. businesslink. gov. uk); therefore the balance sheet does not reflect a 100% accurate financial position of a business. Also, the fixed assets in the balance sheet have taken the depreciation of the asset into consideration and so the true value is not shown. Finally, intangible assets such as goodwill cannot be measured and are therefore estimated figures too and may be very inaccurate thus causing the whole balance sheet to be incorrect. Therefore a balance sheet is useful in many ways as long as whoever is interpreting the figures takes into consideration that a few of the figures are not accurate. An income statement, also known as a profit and loss account, measures the profits or losses a business has made over a certain period of time (money-zine. com). If a business wishes to expand and needs a bank loan they will need to produce their profit and loss accounts for the previous three years so the bank can see whether they will be able to repay the loan. These must be accurate records or it will be taken into account as fraud. There are many advantages of keeping accurate and up to date records. Firstly, it gives a business the information it needs to be managed and help it grow. If a business can see where its strong or weak points are then it can find ways to improve for example by cutting down on expenses. It also enables a business to produce their income statement quickly if required and filling in their tax return easier and quicker which in turn reduces the risk of interest for late tax payments. These financial statements are usually available to the public which means competitors can see how each other are doing, however very few people understand them when all transactions are recorded in larger companies. There are also some limitations of income statements one being that its data does not tell the user anything about what may happen in the future or factors that may affect future growth of the company. It is simply limited to accounting data. The second limitation is that not all businesses use an acceptable accounting method. An example from www. money-zine. com states that â€Å"if a business decides to accelerate depreciation then they hurt short-term net income and earnings (depreciation expense is larger). If they use straight line depreciation, net income in earlier years will be higher – but it will be lower in the future (all things being equal)†. The final type of financial statement is a cash flow statement. It records the inflow and outflow of cash over a period of time. The cash flow statement allows investors to understand how a company’s operations are running, where its money is coming from, and how it is being spent. According Hertenstein Article 26 there are three main people that want to see a business’s cash flow statements. Firstly stockholders want to know if the business is generating enough cash to pay dividends. Secondly suppliers want to know if their customers will be able to pay if offered credit. Thirdly investors want to evaluate future growth potential. These types of financial accounts are cheap to maintain because you do not have to be a trained accountant to produce them as they are not a complicated as the other types of financial accounts. Though the cash flow statement is a very useful tool of financial analysis, it has its own limitations which must be kept in mind at the time of its use. The main limitation is that the cash flow statement only records cash transactions and so ignores the basic accounting concept of accruals and tems bought on credit and therefore are not suitable for judging the profitability of a business. Also cash flow statements are prepared using historical information which is in the past. Therefore it does not asses what may happen in the future to a business’s accounts. In conclusion, there are many uses for financial statements as they provide a solid picture of a business’s performance when compared to each other, and the users can easily spot flaws in the entity’s financial position and manage these accordingly. However their limitations must be considered when analysing the data as they only supply the reader with past and present quantitative data and do not address any of the qualitative economic variables such as the morale of the employees or the quality of the management team. There is currently no way of measuring these intangible assets, even though a business’s human resources are some of its most valuable assets.

Sir Richard Branson

The purpose of this paper is to describe the personality of Sir Richard Branson as well as applying the roles of social perception and attribution. Sir Branson is the owner and Chief Executive Officer of the Virgin brand started in the 1970’s. Virgin is one of Great Britain’s most respected brands and consists of ventures in travel and tourism, leisure and pleasure, social and environmental, media and telecommunications, finance and money, health, and shopping. As a youth, Sir Branson was introduced to many factors which shaped his adult personality. According to Nelson & Quick (2008), â€Å"family, culture, education, and other environmental forces shape personality. † Sir Branson’s personality was strongly influenced by his family environment. His mother encouraged him and his sisters to work hard and overcome adversity by continually setting physical challenges between the siblings. These competitions surely enhanced Branson’s drive to compete and triumph in sporting activities. His entrepreneur success can be contributed to the early introduction of entrepreneurship by his mother and Aunt Clare. Sir Branson’s was influenced by a loving family which modeled traits such as teamwork, cohesion, and support. During my childhood, children were taught to stay in a child’s place and speak only when spoken to. Branson was encouraged to speak as a child and his opinions were valued. This helped to build self-esteem and confidence to communicate outside his social group. In my opinion, Branson’s psychological type derived from the Type Theory Preferences and Descriptions is Extraversion, Intuition, Feeling, and Perceiving (ENFP). Nelson & Quick (2008) described a person who is categorized as ENFP to be: Warmly enthusiastic and imaginative. See life as full of possibilities. Make connections between events and information very quickly, and confidently proceed based on the patterns they see. Want a lot of affirmation from others, and readily give appreciation and support. Spontaneous and flexible, often rely on the ability to improvise and their verbal fluency. (p. 95) While reading Sir Branson’s case, I created the perception that Branson is intelligent, creative, loyal, family oriented, friendly, and confident yet arrogant. My perception is strongly affected by my characteristics as the perceiver. I truly believe that anyone can be successful if he or she works hard. If an individual is working hard and not obtaining the projected level of success, he or she needs to change the situation. Not necessary the plan or approach, but the situation in which he or she is operating in (city, state, company, community). The manner in which Branson organized his schedule to allow for family time influences my opinion and I created the image of him as a family man. Although this is important it doesn’t necessarily confirm that Branson is a true family man. The situation that Branson is introduced to me has an overwhelming affect on my perception. I am reading an article full of positive factors about Branson. How could my perception be anything other than positive? This perception may be the same or totally different had this been a face to face encounter. Three elements of the barriers to social perception are involved in my assessment. First, I used selective perception by relating my view of family orientation to Branson. I narrowed my perception to the qualities which supported my viewpoint. Next, I created the perception that Branson is intelligent, because he is successful. I have created a stereotype that all successful entrepreneurs must be intelligent. The article offered information that Branson’s academic record was terrible and he did not finish high school. I failed to consider this information because of his success. Lastly, the first impression error allowed me to read the article and create the perception that this is the true Branson without any future research or consideration. Sir Branson performance and success is due to internal attributions. He accepted his weaknesses and built on his strengths. The values instilled by his mother formed a sound foundation to build on. He is not focused on external attributions of things he has no control over. He continues to expand his empire by giving others opportunities to develop their ideas into business ventures that he supports (Nelson & Quick, 2008, p. 115). He uses his internal attributions to counter the startup problems and unforeseen battles which don’t seem to bother him. Sir Branson is perceived to be a well-rounded person. His personality, which drives his success and current business philosophy, mirrors his childhood development. During his childhood, his opinion was valued and now he is open to the opinions and ideas of his advisory team. His mother and Aunt Clara were very entrepreneurial developing several different ways to make money and now Branson invites creativity and backs the new business ventures of others. He developed his sense of competition and now challenges industries which he feels are not serving the public. An individual’s personality is strongly influenced by his or her environment as proven by Sir Richard Branson. References Nelson, D. L. , & Quick, J. C. (2008). Organizational behavior: Science, the real world, and you (6th Ed. ). Mason, OH: South-Western. Sir Richard Branson Assignment 4: Sir Richard Branson, Chairman, Virgin Group, Ltd. Case Study Mysherri Rhodes Instructor: Bess White Bus 520: Leadership and Organization February 25, 2012 Describe Branson’s leadership style in terms of the leadership models addressed in Chapters 10 and 11 and evaluate the likely effectiveness of that style in the U. S. today. Sir Richard Branson, founder and chairman of Virgin Group Ltd. , has created a multi-billion dollar enterprise, which includes: airlines, records, bridal wear, holidays, vodka, cars, bank accounts, mobile phones, cosmetics, condoms and gyms (Hellriegel & Slocum, 2011).The Virgin Group is a globally recognized brand that has approximately 50,000 employees and earns more than $20 billion in sales annually (Hellriegel & Slocum, 2011). Sir Richard Branson is known to be one of the greatest entrepreneurs and with that consumers can expect more unique creations from Sir Richard Branson (Boje & Smith, 2012). In order for a business to acquire and maintain such exponential growth, a company must have an effective leader.According to Hellriegel & Slocum (2011), Branson is a genuine strategist who thinks outside the box and he has achieved many great things despite some setbacks throughout the years. Branson anticipates future trends, inspiring followers to understand and embrace a new vision of possibilities. He develops others to be leaders or better leaders; that’s what makes him a transformational leader (Hellriegel & Slocum, 2011). Sir Richard Branson, has a philosophy that is centered on finding people with strong communication and teamwork skills that can be integrated into Virgin Group culture.Once the proper employees are hired, Virgin Group continues the employee’s professional development, allowing the company to promote existing employees. Branson’s philosophy enables him to develop new leaders, which are able to foresee the company’s future and embrace new visions. Hellriegel & Slocum (2 011), also say that transformational leaders are risk takers and welcome new opportunities. Sir Richard Branson states that it is impossible to run a business without taking risks, and he is no stranger to doing so (Hellriegel & Slocum, 2011).Branson publicly admits to three tremendous setbacks: a) the launch of a portable MP3 player (the Virgin Pulse) was crushed by the Apple iPod and lost over $20 million; b) against top management advice, Branson held on to Virgin’s Megastore retail outlets far too long, costing the group financially when the megastores were finally sold; c) Branson created Virgin Cola as an attempt to enter the United Kingdom’s Coca-Cola territory, but Coca-Cola crushed that effort.The Virgin Group has experienced its fair share of failures but that has never stopped Branson from looking for new opportunities. Because of these attributes, Branson is a great transformational leader and is a perfect fit in today’s world. The world is constantl y evolving from the old into the new, and this constant change creates the need for companies to adapt accordingly. Based on constant change a company must be able to adapt accordingly. Transformational leadership is such a great asset to today’s world because its leaders are true visionaries.For instance, to his colleagues Branson is known as Dr. Yes because he finds it hard to say no to new ideas and proposals. Being open to new ideas and proposals sets Virgin Groups apart from other companies because they are never afraid to try venture into new areas. Virgin Group prides itself on doing things in an innovative way while aspiring to provide quality services (Hellriegel & Slocum, 2011). Visionaries are key to the evolution of today’s world and are important to the generations of the future.Recommend a different leadership style (or combination of styles) that would make Branson an even more effective leader. Transformational and transactional leadership are two of th e most popular approaches to leading a businesses (Sadeghi & Pihie, 2012). Branson’s keen sense of transformational leadership is great for Virgin Group but could be more effective when combined other leadership styles such as transactional leadership. Transactional leadership is considered a great second style to work in synergy with transformational leadership.Transactional leadership focuses on the interaction and motivation that occur between a leader and his or her followers (Sadeghi & Pihie, 2012). Branson’s states, â€Å"If you find people who are good at motivating others and getting the best out of people, they are the ones you want. There are plenty of so-called experts, but not as many motivators of people† (Hellriegel & Slocum, 2011; p 344). Branson’s belief in motivating his employees demonstrates his belief in transactional leadership and is an incontestable method ensuring that Virgin Group uses the correct leadership path.Motivating employ ees is a great way to initiate great leadership but here are some other components of transactional leadership that should be considered: a) transactional leadership provides contingent rewards, which includes leaders setting measurable goals to obtain that are clear and concise; b) it exhibits active management by monitoring work performance of employees and enforcing rules to prevent mistakes; c) it emphasizes that enforced rules are not to be broken and unacceptable performance will result in corrective actions (Hellriegel & Slocum, 2011).Determine how Branson would develop and lead a global team working on a major project (e. g. , space tourism) Americans have witnessed the continuous development of the world for decades and Sir Richard Branson has been a part of American history. Branson has continued to push the envelope year after year, and is familiar with the leadership styles that are necessary for leading a global team working on a major project. Branson spoke out, statin g that carbon damaging the world is what is causing global warming.As a result, Branson recently pledged to give as much as $3 billion over the next ten years to tackle global warming. The funding for the global warming project will be given from Branson’s personal revenue from his airlines and rail company (Hellriegell & Slocume, 2011). Branson’s states: â€Å"We must not be the generation responsible for irreversibly damaging the environment† (Hellriegel & Slocum, 2011). In order for Branson to develop and lead a global team for global warming, he must use the core components associated with transformational leadership.According Hellriegel & Slocum (2011; p 330), â€Å"the core components are individual consideration: refer to the leaders to anticipate the followers’ needs, perform as a mentor, and listen to the followers’ needs†. Next, Branson needs to intellectually stimulate his team by encouraging them to think outside the box and to n ot be afraid to take a risk. Then there are inspirational motivations, which is a concept pertaining to leaders creating a vision for the employees to follow.Last but not least is idealized influence which refers to the leader acting in a charismatic way to uplift employees and inspire them (Kirkpartrick & Locke, 1996). Branson has stated on numerous occasions that he treats his employees like human beings, which allows him to anticipate his employees’ needs. Branson also feels that an entrepreneur will only succeed if he or she is surrounded by good people and are able to listen to their advice. Because Branson is open to advice he has innately displayed individual consideration.As a leader Branson has always provided attention to the employee’s needs for growth, encouraged individuals to embrace creativity, and placed an emphasis on innovation. Early in Branson’s career he developed a habit of actively reading emails from his employees. Once the email are read , he then responds to employees’ concerns and ideas personally. There has been instances where employees have presented innovative ideas for the company’s future that Branson has implemented, which demonstrates an intellectual stimulation outcome and encourages this behavior in the future.As I stated above, Branson has a vision that involves improving global warming. Branson’s plan to address the problem is by setting up a carbon war room to strategize reducing the carbon output of companies without damaging the company’s profitability. Setting a vision and creating a plan is a great method for providing inspirational motives for individuals. Historically, Branson is well known for his ability to inspire his team, which results in an ideal work environment. Discuss how you can incorporate some of Branson’s leadership qualities into your role at work or school.Sir Richard Branson is an extraordinary individual and worthy of businesses mimicking his leadership style. Branson’s leadership styles includes, but are not limited to: honing in on one’s ability to become a true visionary, taking risk, and providing quality. Branson states that he listens to all new ideals and proposals but ultimately makes decisions based on his intuition (Branson, 2012). One could practice becoming a visionary into their work or school environment by taking an in depth look at a new ideas or roposals and trusting their intuition. Implementing an environment for visionaries allows individuals to bring forth ideas that other individuals may have difficulty visualizing. This method also encourages individuals to speak up and voice their opinions. The next quality that a leader must possess is risk taking. It is impossible for a business to run without taking risks. â€Å"Virgin would not be the company it is today if risks had not been taken† (Hellriegel & Slocum, 2011; p 344).In order for a manager to be successful there has to be some degree of risk taking and one could start by thinking out of the box (Hanna & Klein, 2011). This could take place by setting aside time for the team to meet, discuss, and implement new ideas that involve more risk. Another one of Branson’s attributes for leadership is to provide quality service to his clientele. According to Hellriegel & Slocum (2011), Branson prides himself on his ability to provide quality services to consumers in areas where other companies may not.As a manager, one could raise the bar through implementing higher standards for quality service. This could, as a result, increase the clientele and loyalty to the company. References Boje, D. , & Smith, R. (2010). Re-storying and visualizing the changing entrepreneurial identities of Bill Gates and Richard Branson. Culture & Organization, 16(4), 307-331. doi:10. 1080/14759551003769250 Branson, R. (2012). Sir Audcity. Inc, 34(9), 72-73. Hanna, J. , & Klein, D. S. (2011). Sir Richard Branson: Great Brands, V irgin Brands, Branson Brands.Smart Business Orange County, 6(5), 10-11. Hellriegel, D. , & Slocum, J. W. , Jr. (2011). Organizational Behavior 13th ed. ). Mason, OH: Cengage (Learning) Kirkpatrick, S. A. , & Locke, E. A. (1996). Direct and Indirect Effects of Three Core Charismatic Leadership Components on Performance and Attitudes. Journal Of Applied Psychology, 81(1), 36-51. Sadeghi, A. , & Pihie, Z. (2012). Transformational Leadership and Its Predictive Effects on Leadership Effectiveness. International Journal Of Business & Social Science, 3(7), 186-197. Sir Richard Branson Assignment 4: Sir Richard Branson, Chairman, Virgin Group, Ltd. Case Study Mysherri Rhodes Instructor: Bess White Bus 520: Leadership and Organization February 25, 2012 Describe Branson’s leadership style in terms of the leadership models addressed in Chapters 10 and 11 and evaluate the likely effectiveness of that style in the U. S. today. Sir Richard Branson, founder and chairman of Virgin Group Ltd. , has created a multi-billion dollar enterprise, which includes: airlines, records, bridal wear, holidays, vodka, cars, bank accounts, mobile phones, cosmetics, condoms and gyms (Hellriegel & Slocum, 2011).The Virgin Group is a globally recognized brand that has approximately 50,000 employees and earns more than $20 billion in sales annually (Hellriegel & Slocum, 2011). Sir Richard Branson is known to be one of the greatest entrepreneurs and with that consumers can expect more unique creations from Sir Richard Branson (Boje & Smith, 2012). In order for a business to acquire and maintain such exponential growth, a company must have an effective leader.According to Hellriegel & Slocum (2011), Branson is a genuine strategist who thinks outside the box and he has achieved many great things despite some setbacks throughout the years. Branson anticipates future trends, inspiring followers to understand and embrace a new vision of possibilities. He develops others to be leaders or better leaders; that’s what makes him a transformational leader (Hellriegel & Slocum, 2011). Sir Richard Branson, has a philosophy that is centered on finding people with strong communication and teamwork skills that can be integrated into Virgin Group culture.Once the proper employees are hired, Virgin Group continues the employee’s professional development, allowing the company to promote existing employees. Branson’s philosophy enables him to develop new leaders, which are able to foresee the company’s future and embrace new visions. Hellriegel & Slocum (2 011), also say that transformational leaders are risk takers and welcome new opportunities. Sir Richard Branson states that it is impossible to run a business without taking risks, and he is no stranger to doing so (Hellriegel & Slocum, 2011).Branson publicly admits to three tremendous setbacks: a) the launch of a portable MP3 player (the Virgin Pulse) was crushed by the Apple iPod and lost over $20 million; b) against top management advice, Branson held on to Virgin’s Megastore retail outlets far too long, costing the group financially when the megastores were finally sold; c) Branson created Virgin Cola as an attempt to enter the United Kingdom’s Coca-Cola territory, but Coca-Cola crushed that effort.The Virgin Group has experienced its fair share of failures but that has never stopped Branson from looking for new opportunities. Because of these attributes, Branson is a great transformational leader and is a perfect fit in today’s world. The world is constantl y evolving from the old into the new, and this constant change creates the need for companies to adapt accordingly. Based on constant change a company must be able to adapt accordingly. Transformational leadership is such a great asset to today’s world because its leaders are true visionaries.For instance, to his colleagues Branson is known as Dr. Yes because he finds it hard to say no to new ideas and proposals. Being open to new ideas and proposals sets Virgin Groups apart from other companies because they are never afraid to try venture into new areas. Virgin Group prides itself on doing things in an innovative way while aspiring to provide quality services (Hellriegel & Slocum, 2011). Visionaries are key to the evolution of today’s world and are important to the generations of the future.Recommend a different leadership style (or combination of styles) that would make Branson an even more effective leader. Transformational and transactional leadership are two of th e most popular approaches to leading a businesses (Sadeghi & Pihie, 2012). Branson’s keen sense of transformational leadership is great for Virgin Group but could be more effective when combined other leadership styles such as transactional leadership. Transactional leadership is considered a great second style to work in synergy with transformational leadership.Transactional leadership focuses on the interaction and motivation that occur between a leader and his or her followers (Sadeghi & Pihie, 2012). Branson’s states, â€Å"If you find people who are good at motivating others and getting the best out of people, they are the ones you want. There are plenty of so-called experts, but not as many motivators of people† (Hellriegel & Slocum, 2011; p 344). Branson’s belief in motivating his employees demonstrates his belief in transactional leadership and is an incontestable method ensuring that Virgin Group uses the correct leadership path.Motivating employ ees is a great way to initiate great leadership but here are some other components of transactional leadership that should be considered: a) transactional leadership provides contingent rewards, which includes leaders setting measurable goals to obtain that are clear and concise; b) it exhibits active management by monitoring work performance of employees and enforcing rules to prevent mistakes; c) it emphasizes that enforced rules are not to be broken and unacceptable performance will result in corrective actions (Hellriegel & Slocum, 2011).Determine how Branson would develop and lead a global team working on a major project (e. g. , space tourism) Americans have witnessed the continuous development of the world for decades and Sir Richard Branson has been a part of American history. Branson has continued to push the envelope year after year, and is familiar with the leadership styles that are necessary for leading a global team working on a major project. Branson spoke out, statin g that carbon damaging the world is what is causing global warming.As a result, Branson recently pledged to give as much as $3 billion over the next ten years to tackle global warming. The funding for the global warming project will be given from Branson’s personal revenue from his airlines and rail company (Hellriegell & Slocume, 2011). Branson’s states: â€Å"We must not be the generation responsible for irreversibly damaging the environment† (Hellriegel & Slocum, 2011). In order for Branson to develop and lead a global team for global warming, he must use the core components associated with transformational leadership.According Hellriegel & Slocum (2011; p 330), â€Å"the core components are individual consideration: refer to the leaders to anticipate the followers’ needs, perform as a mentor, and listen to the followers’ needs†. Next, Branson needs to intellectually stimulate his team by encouraging them to think outside the box and to n ot be afraid to take a risk. Then there are inspirational motivations, which is a concept pertaining to leaders creating a vision for the employees to follow.Last but not least is idealized influence which refers to the leader acting in a charismatic way to uplift employees and inspire them (Kirkpartrick & Locke, 1996). Branson has stated on numerous occasions that he treats his employees like human beings, which allows him to anticipate his employees’ needs. Branson also feels that an entrepreneur will only succeed if he or she is surrounded by good people and are able to listen to their advice. Because Branson is open to advice he has innately displayed individual consideration.As a leader Branson has always provided attention to the employee’s needs for growth, encouraged individuals to embrace creativity, and placed an emphasis on innovation. Early in Branson’s career he developed a habit of actively reading emails from his employees. Once the email are read , he then responds to employees’ concerns and ideas personally. There has been instances where employees have presented innovative ideas for the company’s future that Branson has implemented, which demonstrates an intellectual stimulation outcome and encourages this behavior in the future.As I stated above, Branson has a vision that involves improving global warming. Branson’s plan to address the problem is by setting up a carbon war room to strategize reducing the carbon output of companies without damaging the company’s profitability. Setting a vision and creating a plan is a great method for providing inspirational motives for individuals. Historically, Branson is well known for his ability to inspire his team, which results in an ideal work environment. Discuss how you can incorporate some of Branson’s leadership qualities into your role at work or school.Sir Richard Branson is an extraordinary individual and worthy of businesses mimicking his leadership style. Branson’s leadership styles includes, but are not limited to: honing in on one’s ability to become a true visionary, taking risk, and providing quality. Branson states that he listens to all new ideals and proposals but ultimately makes decisions based on his intuition (Branson, 2012). One could practice becoming a visionary into their work or school environment by taking an in depth look at a new ideas or roposals and trusting their intuition. Implementing an environment for visionaries allows individuals to bring forth ideas that other individuals may have difficulty visualizing. This method also encourages individuals to speak up and voice their opinions. The next quality that a leader must possess is risk taking. It is impossible for a business to run without taking risks. â€Å"Virgin would not be the company it is today if risks had not been taken† (Hellriegel & Slocum, 2011; p 344).In order for a manager to be successful there has to be some degree of risk taking and one could start by thinking out of the box (Hanna & Klein, 2011). This could take place by setting aside time for the team to meet, discuss, and implement new ideas that involve more risk. Another one of Branson’s attributes for leadership is to provide quality service to his clientele. According to Hellriegel & Slocum (2011), Branson prides himself on his ability to provide quality services to consumers in areas where other companies may not.As a manager, one could raise the bar through implementing higher standards for quality service. This could, as a result, increase the clientele and loyalty to the company. References Boje, D. , & Smith, R. (2010). Re-storying and visualizing the changing entrepreneurial identities of Bill Gates and Richard Branson. Culture & Organization, 16(4), 307-331. doi:10. 1080/14759551003769250 Branson, R. (2012). Sir Audcity. Inc, 34(9), 72-73. Hanna, J. , & Klein, D. S. (2011). Sir Richard Branson: Great Brands, V irgin Brands, Branson Brands.Smart Business Orange County, 6(5), 10-11. Hellriegel, D. , & Slocum, J. W. , Jr. (2011). Organizational Behavior 13th ed. ). Mason, OH: Cengage (Learning) Kirkpatrick, S. A. , & Locke, E. A. (1996). Direct and Indirect Effects of Three Core Charismatic Leadership Components on Performance and Attitudes. Journal Of Applied Psychology, 81(1), 36-51. Sadeghi, A. , & Pihie, Z. (2012). Transformational Leadership and Its Predictive Effects on Leadership Effectiveness. International Journal Of Business & Social Science, 3(7), 186-197.

Don’t Worry, Be Happy Essay

â€Å"It will soon pass whatever it is. Don’t worry, be happy. † These are the epic words of Bobby McFerrin from the song: Don’t worry, be happy. In today’s life style our society thrives off of each other’s negativity. We are in a constant spiral of humanity due to the fact we don’t look to the better side of reality but to the ugly face of our pessimistic lives. Our lifestyles revolve the pain and loss we encounter, we need to take up the or at least grasp the concepts that lie in the melodies of Bobby McFerrin’s hit single. The meaning, history and relevance to today’s society will be analyzed. Don’t worry, be happy is a song released by Bobby McFerrin in conjunction with the film Cocktail in 1988. The song is an international feel good anthem for listeners all around. It focuses on the emphasis of looking past your troubles and remaining positive. Whether it be materialistic or emotional, one cannot let themselves be brought down because as a society we are all in a way or another connected and experience the toppling domino effect causing your peers also to come crashing down. According to a study conducted by the Department of Psychiatry and Behavioral Sciences, University of Texas Medical Branch, 96 pairs of college roommates during 2 assessment sessions. The roommates of depressed target students became more depressed themselves over the course of the study. In relation to the song when you worry your face will frown and that will bring everybody down. Also McFerrin even offers to help the listener seek happiness, symbolizing that there is always some hope and the listener need only to reach out and seek it to achieve it. In general the song is telling the listener to promote the positive rather than the negative in one’s life, a concept that the people of today lack.

Merger, Acquisition, and International Strategies Research Paper - 5

Merger, Acquisition, and International Strategies - Research Paper Example Similarly, mergers and acquisitions guide smaller and newer companies into adapting in the advanced industries that have larger companies often manipulating the market conditions of such industries. Merger and acquisitions is a restructure approach in the management of enterprises within an industry. In successful mergers, the companies involved employ techniques that enable them to reorganize their corporate and internal strategies to suit the value of the operations. Distinctively, the growth of globalization has largely influenced the need for businesses to embrace mergers and acquisition as a way to fit into the competitive international markets. Many companies have inadequate resources that enable them to venture into overseas markets, hence limiting their potential output and income respectively. In this case study, therefore, the paper will explain the role of mergers and acquisitions towards the growth of a brand in international markets. The energy industry is a mainstream contributor to the growth of any economy in the world. Many companies that deal with this lucrative commodity are often engaged in a series of adjustment processes that guarantee the survival of such companies in this competitive industry. Due to the increasing global pressure towards internationalization of various business entities, the merger and acquisition processes came into the picture to provide a stable supply of energy for the expansion of various business units. Therefore, between the year 1998 and the year 2001, major energy mergers were commissioned to oversee the improvement of efficiency in the provision of energy as per the requirements of the internationalized enterprises. The Exxon Mobil is a combination that involved the purchase of Mobil by Exxon in the year 1998. The strategy employed in this merger was the horizontal strategy that involved the acquisition of a foreign oil