Amway in China: a Case of Corporate and Brand Reputation Essay

With the turbulent regulatory environment for the direct selling industry in China, the November 2005 announcement that Amway China Co. Ltd (ACCL) had over $2 billion in sales for the second consecutive year is significant for the multilevel direct selling giant, Amway Corporation. China remains the leading market of their worldwide operations even though direct selling was banned in 1998. Their success can be attributed to responses by the corporate and local management for adapting during the ten years of business operations in China. Eva Cheng, chairwoman of Amway (China) and an executive vice-president of Amway Corporation, told a press conference in Guangzhou, â€Å"We have been told to shut down five times and to change our way of doing business four times. We depend on product quality more than our business license.† New regulations in December 2005 will pose further modifications to the Amway business model in China. â€Å"Despite the uncertainty, ACCL performed admirably,† said Steve Van Andel, Chairman of parent company Alticor. â€Å"We continue to examine our future options in China in light of the new rules, which have yet to go in effect. We are very optimistic that China will continue to be our strongest performing market.† The Company Profile Founded in 1959, Michigan-based Amway Corporation is a large direct selling company of personal care, home care, nutrition and commercial products. It is a wholly owned subsidiary of privately-held Alticor, Inc. that operates primarily through Amway Corp; Quixtar Inc.,a North American Web-based business opportunity; and Access Business Group LLC, a product development, manufacturing and logistics provider to Amway, Quixtar and other companies. Alticor Inc. and its family of companies reported sales of $6.4 billion for the performance year ending August 31, 2005. Amway operates in more than 80 countries in Asia, Africa, Europe and the Americas. Products offered include brands such as Nutrilite vitamins and food supplements, Artistry skin care and color cosmetics, eSpring system, Magna Bloc therapeutic magnets and SA8 laundry system. Access Business Group manufactures Amway’s brand products in facilities in Ada (Michigan), Buena Park (California) and Guangzhou (China). Amway’s products and services are marketed through more than 3 million independent business owners (IBOs) and sales representatives worldwide through a multilevel direct selling model. Direct sales, as defined by the World Federation of Direct Selling Associations, is â€Å"a process involving the marketing of products and services directly to consumers in a face-to-face manner, away from permanent retail locations.† Annual worldwide sales in this sector are nearly US $90 billion, half of which are in the United States and Japan. In the United States, approximately 80% of direct sales are by multi-level marketing organizations, where salespeople are paid not only on their own personal sales, but also on the sales of other salespeople whom they recruit and train through up-line and down-line relationships. History of Involvement in China Amway (China) Co., Limited incorporated as a joint venture in 1992 and opened a 152,000 square foot manufacturing plant in the Guangzhou Economic and Technical Development Zone on January 18, 1995. The Amway operations in the People’s Republic of China are part of Amway Asia Pacific Ltd., a publicly traded company until becoming privately owned in 2000, that encompasses Amway businesses in Hong Kong, Macau, Malaysia, New Zealand, Taiwan and Thailand. Initial manufacturing for the Chinese market included five homecare household cleaning products, with personal care products introduced throughout the year. Amway China commenced sales operation in the Guangdong and Fujian provinces in April 1995. Following the multilevel direct selling model of Amway, a minimum monetary investment of approximately US$85 for married couples and individuals was required to establish their own business. New distributors received training and support from their sponsors and were encouraged by motivational programs and incentives. The total sales to the network that the distributor helped recruit, train and motivate was considered in calculating bonuses. Thousands of sales representatives registered during the first years, bringing Amway’s net sales in China to $178 million for fiscal year 1997. Until the 1990’s, direct selling was not an established method of distribution in China. Chinese officials interpreted the term for direct selling, â€Å"chuanxiao,† as â€Å"passing products from one layer of participants to another layer of participants, with the product price increased at each layer† which is not a factual representation of the business model of most direct selling companies. Meanwhile, illegal smuggling of imported products, mass meetings to recruit salespersons and â€Å"get-rich-quick† schemes generated attention of Chinese officials, resulting in the first national regulation on direct selling in 1994. These regulations focused on preventing fraudulent activities and set limits on advertising for recruits and compensation for introducing new sales representatives. In 1998 – after numerous attempts to address violations of the chuanxio regulations, and two highly publicized scams in Huizhou City and Xingsha – the State Council ordered all direct selling companies to cease operations, disband distributor networks, clean up debts, and modify its sales method. Response to restriction on direct selling Forced to restructure the business, Amway worked with the Chinese officials to implement a model that would allow sales representatives to continue participation in the business. â€Å"While we will have to make a number of changes in how we operate, in all of our discussions with the Chinese government it was essential that we retain the foundation of an independent sales force to service our customers,† said Richard DeVos, president of Amway Asia Pacific. Under the approved plan, Amway’s product distribution centers throughout China became â€Å"retail locations† with Amway branded products marked at retail price. Once a Chinese consumer bought Amway products for two consecutive, they became â€Å"privileged customers who buy Amway products at a 15 percent discount for their personal use.† These â€Å"privileged customers† could apply to Amway to be sales representatives to buy Amway products directly from the retail stores at the full price, paying with the customers’ money and delivering the products to customers. They received a 15 percent commission on sales to their customers. By establishing 180 company-owned retail locations by 2005, the plan allowed an estimated 180,000 direct sellers to continue to operate within what the company terms a mode of â€Å"selling through shops, plus the use of sales representatives.† However, the approval to continue business stipulated that sales representative income was based on individual results, not those of the team – a move intended to limit the attraction of forms of direct selling that might lead to pyramid frauds. In anticipation that the regulations may change, sales representatives continued to introduce others to the business while not receiving commission from their sales. Through obtaining appropriate business licenses, approximately 80,000 sales representatives became authorized agents whose compensation included both team performance and their own sales. Corporate Sponsorships Amway continued its tradition of involvement with the community through corporate sponsorships that enhanced its reputation in China. By the end of Aug 2005, Amway China supported over 1,800 charity projects in the areas of children, health and environmental protection. These projects resulted in earning over 1,200 honors and awards. The China Charity Association granted the company the award of Exemplary Benefactor to Social Welfare in 2002. For environmental initiatives, the Chinese Ministry of Land and Resources awarded Amway China the title of â€Å"Model Enterprise for Protecting Earth’s Resources† in 2002. Other rewards include: â€Å"Star Enterprise to Contribute to the Public Welfare† by China Children and Teenagers’ Fund, â€Å"Advanced Enterprise for Excellent After-Sales Service and Product Quality† by China General Chamber of Commerce in 2003. In 2004, Fortune (Chinese Edition), listed Amway China as one of the â€Å"Most Admired Companies,† Most Influential MNC, and Most Influential Brand. Brand Positioning According to John Parker, Chief Marketing Officer of Amway Corporation, Amway views their product portfolio in terms of the way in which products support the business opportunity to enable the independent business owners to recruit, to retail, and to qualify for higher award levels. Without multilevel direct selling in China, the focus is on creating a portfolio of products and brands with a price/value relationship that allows sales representative to succeed in developing customers. Amway China produces and markets more than 160 products, including Nutrilite( food supplements, Artistry( skin care and cosmetics, personal care and home care products. To make the brand more visible and make it easier for the sales representatives to sell products to the customer, Amway China invested over 30 million US dollars for advertising in 2005. Amway broadcast films of Artistry cosmetics and Nutrilite nutrition products in 1,500 business buildings throughout China and more than 4,000 liquid crystal display televisions in Shanghai’s underground carriages. Artistry was the title sponsor bringing â€Å"The Phantom of the Opera† to Shanghai. Sponsorship of the first health runs to take place in China has coined the term â€Å"Nutrilite Health Runs† for what most countries would call 10K or marathons. For the Chinese, the Nutrilite brand has become synonymous with fitness and activity. According to the Euromonitor, Amway China was the fourth largest company in cosmetics and toiletries sales in 2005 – with a 5% market share overall. The cosmetic brand Artistry was second in overall cosmetic brand share, with 4.3%, closely following Procter & Gambles, Olay brand with 5%. It is the second largest in Color Cosmetics with 7.5% market and brand share in all regions of China. In the over-the-counter healthcare category, Amway held an overall value share of nearly 19%, far exceeding that held by the next closest competitor. Amway was the top performing player in vitamins and dietary supplements in China, capturing over 25% of vitamins and dietary supplements in 2004. Nutrilite, was the leading brand with value share of more than 13%, including the best selling brand Nutrilite Protein Powder, and its multivitamins and other dietary supplements, such as calcium and fish oil. In the home care products, Amway China is not a major player, with 0.1% of the overall market, however have brand recognition and share in laundry care and dishwashing products. The laundry detergent, SA8, is ranked ninth in the nation with 0.5% brand share and Dish Drops is ranked eleventh with a 1.1% brand share. Commitment to product development for the Chinese market includes seven laboratories for quality assurance and two research and development centers in Guangzhou and Shanghai. The Company has been awarded the Advanced Technology Enterprise for three times from 1996 to 2002. In 2004, Amway increased its investment in China by US$120 million to set up a research and development center in Shanghia to explore introducing herbal medicinal elements to its products. Continuing lobbying for resumption of direct selling in China Recognizing the large potential of direct selling in China, Amway participated in efforts of the American Chamber of Commerce, the US-China Business Council, and the World Federation of Direct Selling to lobby for Chinese participation in the World Trade Organization (WTO). Most importantly, Amway’s chairman Steve Van Andel addressed the U.S. House Ways and Means subcommittee to urge China’s accession, in order to normalize trade relations with China on a permanent basis as well as to gain trust from Chinese government. China’s accession into the WTO in 2001 was expected to help improve the environment for direct sales in the country. China committed in their WTO agreement to allow market access for â€Å"wholesale or retail trade services away from a fixed location,† requiring China to fully open up the direct sales market by December 11, 2004. After much delay, the new regulations announced in September of 2005 permit direct selling in China with a number of restrictions. The most detrimental to the multinationals in the market is that the new law defines all multi-level marketing compensation structures as illegal chuanxiao. The new regulations also impose training restrictions that all salespersons will be required to pass an examination and be certified, as well as limit sales representative compensation to 30% of personal sales. Three other requirements to obtain approval include 1) three years of foreign operating experience before being allowed within China 2) â€Å"service centers† in every province where product is sold and 3) a minimum bond of 20 million RMB plus 15% of monthly sales up to a maximum of 100 million RMB. Upcoming challenge Amway China admits that the transition to comply with the new regulations will take time given their position as the largest direct selling company in China, with 50% of the market and more than ten times the sales volume of competitor Avon. The company can continue operating under its current approval while evaluating changes needed to meet the expectations of the Chinese government and therefore are not concerned that Avon was first to receive approval from the Ministry of Commerce to engage in direct selling in China. Under the new legislation, sales representatives may sell products outside of a fixed retail location, providing Amway representatives further opportunities to generate sales. Additionally, lifting restrictions on imported products may allow Amway China to access over 450 kinds of goods from its parent company. The continuing ban on multilevel direct selling will be the most challenging aspect of Amway’s response to new regulations. Amway’s success worldwide relies on a motivated sales force through multilevel compensation. One authorized sales agent of Amway in China is quoted as saying â€Å"We still face a huge challenge in China, because multilevel marketing is where the real profits lie.† The 180,000 Amway sales representatives in China look for the company leadership to consider their interests while pursuing solutions that meet the new regulations. Eva Cheng states â€Å"We will review the nature of the authorized agents’ jobs and make whatever modifications are necessary to ensure the company’s marketing activities are not open to allegations of chuanxiao.† Questions for Discussion 1. Who are the stakeholders for Amway in China? How would a stakeholder analysis help in developing a communication strategy? What is your recommendation for a communication strategy during this transition period? 2. Why is it important for Amway to be good corporate citizen in China? Can â€Å"doing good† overcome negative or inaccurate perceptions of the direct selling industry in China? 3. To what degree has Amway standardized its brand globally? How has it adopted its promotion strategy to local conditions in China? 4. What options does Amway have to address the new regulations on direct selling in China? What are the advantages and disadvantages associated with each? Sources Amway Fact Sheet, Alticor Fact Sheet, Amway China Fact Sheet. â€Å"Amway Regulates Agents in China Market.† Alestron (March 8, 2006) â€Å"Amway Starts Promotion in China.† Alestron (May 14, 2004): â€Å"China on Verge of Opening Vast Market for Direct Selling.† Nutrition Business Journal 10, 4 (2005): 9-12. Chung, Olivia. â€Å"First Law of Direct Sales: A Clear Ban on Multi-Level Marketing in China Will Mean Harder Times for Amway and Avon.† The Standard, September 26, 2005. â€Å"Cosmetics and Toiletries in China (June 2006).† Euromonitor. â€Å"Direct Sales in China.† Washington, DC: World Federation of Direct Selling, 2005. Gee, Pauline. â€Å"Fighting fit: amway has had to persevere in China but its determination to succeed there means it now holds an enviable position. (Country Report: China).† Soap, Perfumery & Cosmetics Asia (Nov 2002): 15(1). Ho, Herbert H. The Development of Direct Selling Regulation in China, 1994-2004. Washington, DC: The US-China Business Council, 2004. â€Å"Household Care in China (October 2005).† Euromonitor. Jun, Lin, and Rebecca Karnak. â€Å"At Last, Progress on Direct Selling.† China Business Review, Nov/Dec2005. MacLeod, Calum. â€Å"China’s New Rules Open Door to Amway, Avon, Others.† USA TODAY, November 30, 2005. â€Å"OTC Healthcare in China (December 2005).† Euromonitor. Ostroff, Jim (1998), â€Å"Amway Slated to Resume Its Operations in China.,† WWD, 175 (144), 28(1).

Neolithic Revolution Essay

The Neolithic Revolution was a fundamental change in the way people lived. The shift from hunting & gathering to agriculture led to permanent settlements, the establishment of social classes, and the eventual rise of civilizations. It was a revolution of achieving social and technological advances, while economic, political, and social changes resulted from the rise of cities, allowing the ability to support an increasingly large population. Therefore, the Neolithic Revolution led to the seven traits of civilization. Prior to the Neolithic Revolution’s transformations, people were forced to hunt for their own food. This resulted in humans following their food sources’ trail, whether it be hunting an animal, or essential natural resources. Because of the fact that people were constantly shifting from area to area based on their food, this labeled them as nomads; people who did not have a permanent home or residence. Due to the lack of food, there was a small population. Then, gradually, the Neolithic Revolution began to take place at different times and different places, a time period where humans shifted from gathering and hunting food to producing it. People began domesticating animals to provide food, as well as plants and crops, which varied depending on climate. As a result of domestication, agriculture began to take form. Agriculture is the farming of animals and plants, which made life easier and enabled people to remain in the same place. These were some of the building block s for civilization that took place during the Neolithic Revolution. Agriculture led to villages because farming encouraged the formation of larger and more stable communities than had existed before Neolithic times. Most hunting humans moved in small groups containing no more than 60 individuals who could not settle in a single spot lest the game run out. With settled agriculture the constraints changed. Communities developed around the cleared and improved fields. Now that food was plentiful and able to be harvested, population strongly increased. With more people and a lack  of diverse jobs, specialization of labor was developed when men and women became artisans, growing increasingly productive and creative. This occurred since farmers grew all the food, and not everyone had to be a farmer. Gradually, humans became innovative and improved quality and numbers of their products. People were slowly yet steadily continuing to progress towards the seven traits of civilization. Specialization of labor began to then lead to the seven traits of civilization. As villages evolved into cities and became more complex, many new jobs developed. For instance, officials gathered taxes, engineers planned irrigation systems, and soldiers defended city walls, resulting in government and military. As life in cities grew increasingly complex, people began to keep permanent records and developed writing. Other humans became skilled artisans who devoted their time to crafts such as baskets, metalwork, or pottery, while others built large public works such as temples or buildings. This was the development of art and architecture. Religion then resulted from things people could not explain, with early civilizations which had formal religious institutions that included ceremonies, rituals, and other forms of worship. As urban societies developed institutions and specialized labor, a social order developed based on people’s occupations, wealth, and influence. Due to their experience with agriculture, humans of the Neolithic Revolution then improved their farming systems and advanced their personal resources to be more productive. As shown, all of the seven traits were a result of the Neolithic Revolution, and led to civilization. The Neolithic Revolution caused the seven traits to take effect. If it weren’t for those traits, we may still be undeveloped nomads today. Having taken a huge step towards modern society, the early humans who lived during the Neolithic Revolution were hard at work in learning how to start a civilization. They have given up their nomadic days and discovered the advantages to settling down in one area. No longer were lives at risk every day. The Neolithic Revolution was the first step in building a modern society where humans can live in peace and not worry about betting on their lives for days’ worth of food and finally able to rest their minds without worry. The Neolithic Revolution was a crucial part of human history and  without it, we would not have civilization.

A Critique of Aristotle Politics

Introduction This paper aims to discuss the thoughts of Aristotle as the philosopher of his time. The paper will examine the applicability of his ideas in the world today. It will analyze the ethics of Aristotle against the way today’s governance. This paper will offer an informed critique of Aristotle’s politics. The paper will discuss the prepositions of Aristotle and the merits and demerits associated with each leadership. Discussion Aristotle politics looks at the world scientifically and can differentiate the ideal and the practical.In his book one of politics, Aristotle outlines the different types of governments that he perceives. In each of these types of governance, he gives the sound and the bad. According to Aristotle, the philosopher king is the ideal governance. In this form, the kings’ interest is in the welfare of his people (Tacitus & Benario 18). The highest form of governance is the monarchy. It is hereditary in nature, and people can associate freely with the royal family. In a monarchy, the interests of the nation take priority above all other matters. When the respectable leadership of a monarchy becomes rogue, Aristotle terms it as tyranny.When leadership becomes self seeking the citizens of this state, suffers thus; cannot achieve happiness (Chuska 277). Aristotle considers aristocracy of philosophers to be the second best leadership. When this form of leadership gets crooked, it becomes oligarchy. Further, he views democracy as the worst form of leadership. In his opinion, the third best form of leadership is one whose polity would combine all the noble forms of leadership. According to Aristotle, a polity is a constitution. Aristotle is of the opinion that, for a polity to be viable, it has to consider the stability and security of its people.The aristocracy as Aristotle puts it is the rule of several. When a virtuous rule of law prevails the society enjoys solidity. In this rule, the needs of the wealthy get priori ty while the rest of the population gets neglected. This brings about class division, and discrimination on the basis of riches. The elite in the society protect and guard their status making it difficult to join the elite group from low class people. According to Aristotle, who was advocating for fairness, elitism in the society is wrong (Chuska 278). Polity is the rule of the majority. This is what Aristotle refers to as the rule of many.In the better form, it concerns with the needy. The leaders take office through an election. It is the citizens of the state who decide the person to rule over them. When this form of leadership becomes fraudulent, Aristotle refers to it as democracy. As Aristotle puts it when the mob rules the minority group suffers. However, in the opinion of Aristotle this corrupt form of polity is the best form of governance in the long run (Aristotle et al 297). In Aristotle’s analysis of the best form of a leader, he says it is that person who pursues virtue. To him virtues are decent habits acquired through legislation and moral education.According to Aristotle, leaders should not work; it is the state to provide for their needs. They should have property and sufficient time for leisure. This will enable them to pursue virtues. This practice is only possible in a monarchy. The views of Aristotle about a monarchy are noble. In the history of Roman Empire, there is a short duration when there was monarchy. The leaders commonly known as the five good empires operated a monarchy with success. The rule was successful without turning to dictatorship. Their interest was in the subjects. They resisted the allure of abusing the unlimited power of their rule.The emperor who took over from the last of the five was Commodus. He started out well following the ideals of a monarch. However, he gradually became corrupt. He started to make laws that were not pleasing to the people. The rules he made were not logical, and the people of the empir e were unhappy. He disregarded the virtues of a leader and started barking orders at a whim. He died by assassination by strangulation in his bath (Aristotle et al 300). This classic example gives reality to the opinions of Aristotle. Monarchy is a worthy form of leadership; however, when corrupt it is the worst form.According to Aristotle the second best form of government is aristocracy. Before the formation of the Roman Empire, there was the Roman republic. There was the rule of law in the republic; it lasted for four hundred years, an unusually long duration. Aristocracy may have succeeded within this duration, but it has the weakness that people do not choose the person to lead them. However, it finally failed when power became centralized. Aristotle advocates for balance between the one, few and many. This is a form of mixed government where the virtues of all the six forms of government combined.According to him this would bring stability and avoid the dangers that a monarchy poses to the society. In the world, today this form of government can be seen in the United Kingdom and the United States. There is a power balance among the three basic components stated by Aristotle. This brings about stability in the society (Chuska 278). Aristotle, in his politics, discusses how a state associates with it members. He maintains that the legitimacy of a government remains through serving it people and offering them a healthy life. According to Aristotle the happiness of the citizens is state is crucial.In his discourse, Aristotle talks of the contentment of the entire state, not just a segment of the state. The perfect society is one whose citizens show moral virtues this is achievable through an ideal government (Chuska 279). Aristotle puts emphasis on the human beings achieving their potentiality. According to him the successful government has to have citizens to choose the needs for their lives. A critical evaluation of the politics of Aristotle shows an incli nation towards communism and authoritarianism. However, in today's world the most successful forms of government are the representative democracies.This is because they include all the groups within the state without leaving out of the minority. The form of government that Aristotle proposes is practical. His concern is in the stability and security of the citizens. The members of a state need security in order to run their day to day activities. Thus, if there is a lack of order in the leadership the citizens suffer. Aristotle proposes a constitution which he calls a polity. He sees it as a long lasting solution to leadership problems as it offers a concrete form of governance. In the contemporary world, we have all forms of governments as discussed by Aristotle.The most successful ones are the democracy. Though they have their short falls, they are more practical compared with other forms of governments. The state has a duty towards the people; however, the people also have a resp onsibility for themselves. The world is competitive, and people cannot wait for the state to take care of them (Tacitus ; Benario 19). In conclusion, Aristotle's politics have an influence on political philosophy up to the present time. They contain thought provoking concerns about politics that governments should consider the quality of the life of their subject. He questions who should be the ruler of the people.Aristotle is keen to emphasize on the moral expectation and obligation of the state and their citizens. A state has to have citizens and the citizens have to have a state. The two must exist together and for that to be, there must be rulers. Works cited Chuska, J. (2000). Aristotle's best regime: A reading of Aristotle's Politics, VII. 1-10. Lanham, Md: University Press of America. Tacitus, C. , & Benario, H. W. (2006). Agricola, Germany, and Dialogue on orators. Indianapolis: Hackett Pub. Aristotle, . , Bekker, I. , Bolland, W. E. , Lang, A. , & Aristotle, . (1877). Arist otle's Politics: Books I. III. IV. (VII. ). London: Longmans, Green.

The Main Development of e Marketing and its Effect on Tourism Essay

The Main Development of e Marketing and its Effect on Tourism - Essay Example This essay will seek to address some of the major developments of e marketing and their effects on tourism. Additionally, it will also look at the major issues related to technology and innovation as well as their impacts on global tourism. Understanding and managing technological change and innovation To begin with, the recent advances and developments in connectivity and power processing facilitated by Information Communication Technology are undeniable. It is also agreeable and true that the expansion of broadband is part of the greatest challenges of the 21st century, which, once the world overcomes it, will witness the end of the ‘plague of distance’ that exists globally. Simultaneously, the ‘smart world’ in which are living in whose landscape albeit experiencing a permanent process of evolution is offering clearer, becoming friendlier, and presenting solutions that serve in reducing money and time and opening new paths towards the personalization of pr oducts and services. At this point, it is understandable that, in this world, in spite of its tones of inequalities offers an immense space to increase travel, because many barriers that once prevented or slowed global travel are gradually declining (Alipour, 2011:1). As of today, combination of technology and price comparison is increasingly shaping the activities of tourism. Experts are developing new applications for mobiles that offer a wide range of opportunities, social networks are consolidating themselves within a more transparent market where citizens are in a position to develop and provide services together, and changes in the concept of the value chain are producing new business models. In other words, change is becoming more constant and obvious, just as the opportunities that it is creating and presenting. However, technological advancements are presenting a challenge for the tourism industry. It is therefore vital understand the main trends that are influencing supply and demand, to know what is managing the change in the external environment while evolving at the same rate (McMaster, Kato, and Khan, 2005:12). Moreover, it is congruent to converse with the improved capacity for tourism organizations to respond via policies that can better integrate diverse interests, taking into account the whole range of potential of a destination. Business analysts recognize the internet as a widely and extremely valuable tool of marketing. This is because; the internet gives substantial merits over traditional methods of communication. The offers increased customer involvement in controlling transactions, increases the speed of transferring and retrieving information, and reduces the costs involved in communication. The internet is offering the tourism industry a greater flexibility of using the marketing mix (Kim, 2004:5). As such, it increases internal and external communications as well as facilitates market research. Tourism industry depends highly on int ernet in intensifying and improving customer services, product development, market penetration, cost saving via reengineering, product delivering, and in direct marketing. The use of internet transformed the tourism indus

Delinquency Deterrence Essay Example | Topics and Well Written Essays - 250 words

Delinquency Deterrence - Essay Example Additionally, a juvenile cannot risk committing a crime with the knowledge of certain severe punishment on such crimes. Ideally, it is more effective to punish a juvenile upon committing a crime, as this will deter delinquency in the future, as they will have leant a lesson. Most importantly, the threat of punishment to juvenile delinquency allows officers to reach out to such criminals in their schools and allow the judges to commit them to severe penalties. The courts have indeed offered tougher punishment for crime thus instilling fear to potential juvenile criminals and hence driving crime down. Therefore, the certainty and severity of punishment deters juvenile delinquency. General deterrence refers to the impact of the threat of legal punishment on delinquency in the public. For example, the perception that there is certainty to the enforcement of traffic laws and violation attracts severe penalties is an example of general deterrence. In addition, a â€Å"Tow-Away Zone" sign is also an example of general deterrence (European Road Safety Observatory, 2007). Specific deterrence refers to the impact of the actual legal punishment on convicted law violators. Such deterrence emanates from life experiences with detection, prosecution, and punishment of legal violators. A good example is the experience of a stricter sentence on lesser crimes (European Road Safety Observatory, 2007). There are various situational crime prevention strategies. They include reducing the opportunities for criminals to commit crime, making the commitment of crime seem harder, less rewarding, and riskier. In addition, changing a criminal’s perception that they can get away with crime, improving surveillance, and deflecting potential offenders from potential crime areas are situational crime prevention strategies (University of Cambridge, 2012). As such, I believe that general deterrence and effective

Nestl Tries for an All-for-One Global Strategy Case Study

Nestl Tries for an All-for-One Global Strategy - Case Study Example Decentralisation could best apply in different situations, but as organizations grow and establish more branches in different areas, numerous problems arise. Establishing individual organizations could need a lot of infrastructures, and capital to conduct operations in any decentralized system.   For Nestle, the decentralized strategy had created inefficiencies and accrued extra costs, which hindered the company from fully realizing its profits and competing through electronic commerce (â€Å"Nestlà © Struggles,† itu.edu). From this, the company was exposing itself to potential external threats, such as its shared global suppliers, and competitors. Even with the huge investment on numerous computer and information system resources, decentralization gave room for inefficiencies, more expenditure, inventory mismanagement, distributed decision making, operation complexity and data isolation that prevented data sharing, due to the differences in Information Systems, and lack of a standard platform. It was obvious that the company was not receiving the exact benefit that could come with information systems.   Due to the differences and challenging experiences in the global market, Nestle SA had to act towards business integration and consolidation, so as to allow standardization and coordination of its business processes and information systems (â€Å"Nestlà © Struggles,† prenhall.com). The company embarked on a global implementation of SAP R/3 ERP software, which intended to replace the SAP R/2 version that had been operating in most of the local organizations. Through the introduction of the software, the inefficiencies and accrued costs would be cutback, in the long run, to allow the company realize its full benefits.

Improving of Leadership Skills by Learning English for International Case Study

Improving of Leadership Skills by Learning English for International Students to be Ready for Graduate Programs - Case Study Example Different Supports Needed to Improve the English Language Skill In order to enhance the English language of the students for the purpose of preparing them for their graduate program at the University of Regina, certain support is very much essential from the viewpoint of the students. The most important forms of support that the graduate students need are academic acculturation and that of English support. In terms of English support, the students have already acquired a brief knowledge regarding the subject topic of English but still the students need certain consequential refining in their skills based upon English i.e. either grammatically, in terms of vocabulary or through any other ways (Crown, 2003). In this connection, it has been observed that most of the students face certain difficulties in particular aspects that include integration of quotes in essays, formatting and effective lead-in to the quotes. These are certain specific areas in which the students must improve which would help them a lot for their graduate programs in the long-term (Crown, 2003). Moreover, the students need to develop themselves in the area of their critical thinking that would help them to improve their English language. The aspect of critical thinking is regarded as the capability to imagine clearly and rationally. It includes the capability to greatly focus upon independent as well as reflective thinking. There lie various useful functions of critical thinking that might help the students towards enhancing the medium of language i.e. English for their graduate program (Lau & Chan, 2012). The various useful functions of the aspect of critical thinking include understanding the coherent interrelation between the conceptions of the subject topic, recognizing, generating as... This report approves that the teachers as facilitators assisted as well as supported the students and the learners by delivering several skills and capabilities which ultimately helped the English learners or the students to enhance their several aptitude skills such as writing and listening. Moreover, the facilitators also assisted the students or the learners to acquire a brief idea regarding various cultural aspects along with learning several diversification related facets that prevailed in the classroom. In addition, the facilitators assisted the students to learn vocabulary, resolve grammatical errors along with capably write various assignments, projects and proposals that ultimately helped the students or learners to complete their graduation program successfully. The aspect of learning English is very much essential in order to raise as well as to enhance various skills and capabilities such as English writing, reading and listening. In order to improve the above discussed s kills, the students or the learners have to learn English by a considerable level. This essay makes a conclusion that from the overall analysis it can be said that by learning English, the international students can enhance their leadership skills by a significant level. Various barriers as well certain wide gaps were faced by the students or the English learners while learning English but the teachers as facilitators played a major role in order to overcome those barriers and gaps. Along with the major part played by the teachers, the introduction of ESL program or course also can help the students or the English learners to acquire a broad view regarding English which ultimately would help them to progress their writing, reading and listening skills and capabilities.

Reflection Paper Essay Example | Topics and Well Written Essays - 250 words - 8

Reflection Paper - Essay Example Not only the form of the art, but also the way art is expressed, tells us a lot about the country’s history and culture. Through art, we come to know about the societal life of the country. The way art is portrayed, the actors, the kind of humor or seriousness the art holds, everything contains in it a certain message that the person takes with him on his way to home. For example, film is one form of art. For example, American films talk about a lot of different cultural aspects of the country. Hollywood movies talk about racism, which shows that the society of USA is affected by the harmful aspect of racism. Films, like â€Å"Crash† by Paul Haggis portray the issues of race and gender. Hollywood films are also famous for their action-adventure and catastrophe movies like â€Å"2012† which shows that the American culture focuses on the artistic use of science, history and archeology, to produce an amazing work of

Sexual Harassment Term Paper Example | Topics and Well Written Essays - 1000 words

Sexual Harassment - Term Paper Example Review of the Case After reviewing the case of sexual harassment, which went for trial and later on became the law in California, I believe that sexual harassment is a big problem for many of the working women these days. Many women face the problem of sexual harassment when they go to their offices for work. The dilemma is that most of those women do not report sexual advances of their colleagues and managers to anyone because they feel ashamed in front of others. In such cases, offenders get more courage and they continue doing sexual acts with their subordinates. In case of Zurian and Lawicki, Zurian also did not tell anyone about the sexual advances of Zurian, which encouraged Lawicki to continue harassing her sexually. Lawicki harassed Zurian physically and verbally for three years, which is a very awful example of the shameful act of sexual harassment. Lawicki used to grab Zurian’s breasts from behind, pinch her buttocks, touch her crotch, and make sexual inquiries. Zuri an was the subordinate of Lawicki because of which she was afraid that if she told anyone, it would not be good for her professional career. The fact is that there is a limit to everything. A person cannot continue to be victim of a crime for an endless period. That is the reason why Zurian finally decided to contact higher authorities for ending the sexual advances of Lawicki. ... This behavior of higher authorities made Zurian take the decision to resign from job. However, the case did not end here because resignation brought many problems for Zurian. She not only lost a good source of income but also suffered from panic attacks, depression, and sleep disorder. These issues led Zurian file a case against Lawicki because of whom she left the job. The court, after hearing all parties involved in the case, decided to award compensatory damages to Zurian that amounted up to $125000. The court also held Lawicki responsible for the whole situation. It was a good decision by the court as Zurian was compensated for what she had suffered for three years. However, the court did not give her the right for a trial related to punitive damages. Although the court gave compensatory damages to Zurian but did not let her file case for punitive damages. Award of punitive damages was the right of Zurian because she had suffered a great deal from the sexual advances of Lawicki. My Policy at the Workplace The above-mentioned case of sexual harassment will really help me create an effective policy for the prevention of sexual harassment at the workplace. I will develop a policy, which will eradicate all sorts of discrimination against the employees along with the incidents of sexual harassment. I will give proper training and education to all employees regarding exhibition of workplace ethics and good moral. I will try to inject the value of workplace ethics in the minds of the employees in order to prevent them from teasing or harassing any other employee. In the above-mentioned case, I have learned that showing negligence towards complaint of any employee results in creating big problems not

Global Economics Essay Example | Topics and Well Written Essays - 750 words

Global Economics - Essay Example The recent fascination appears to have been inspired by their success in dealing with hyperinflation in several countries such as Argentina and Bulgaria. Argentina did in fact abandon its currency board sometimes back in 2002 after it experienced one of it's worst recession. Lithuania and Estonia also turned to currency boards to obtain credibility for their newly established countries. The renewed appetite for fixed exchange rate regime justifies a closer look at ideal conditions for their establishment, with particular interest to the Argentina's experience. A currency board combines three aspects; one, the exchange rate is fixed to an anchor currency. Secondly, there must be automatic convertibility- it should be always possible to exchange local currency at the fixed rate and thirdly, there should be a long term dedication to this system. The fixed exchange regime that that currency board imports is usually appropriate for small economies with fragile central banks. The fixed exchange rate regime will only be effective if there are sufficient foreign exchange reserves to cover the local current issued. A fixed exchange rate system will be of no use if a country is unable to maintain a sustainable exchange rate to the anchor currency. This might cause serious balance of payment problems if the local currency is overvalued. Argentina paid scant respect for these economic principles that precipitated its financial crisis of 2002. The peso was locked at one US dollar since 1991, when then the currency board was established. Because of this overvaluation, Argentina exported too little and imported too much. The manufactured balance of payment problems rendered it difficult for the country to earn the foreign exchange it needed to repay its foreign debts. Usually, currency boards have the capacity to instill confidence in the public and financial markets because of the certainty of payment adjustment mechanism. However, experiences with Argentina and Hong Kong shows that currency board are not immune to speculative tendencies induced by fear of devaluation. Devaluation did actually take place in Argentina in 2002. Though this was meant to help resolve the countries balance of payment problems, it rendered many businessmen who had borrowed in foreign currency bankrupt. It is also essential for the fiscal policy of a country to be disciplined by the establishment of a currency board and this requires political will from the establishment. At least initially, Argentina bureaucrats played by the rules of the game. But they were perhaps emboldened and the discipline was lost in the late 90's when Argentina picked where it had left from and proceeded to ruin its economy by running persistent deficits. Argentina Convertibility Plan: Mission Impossible. The convertibility plan got its name from the currency board arrangement that was at the centre of economic program in Argentina. At first, it experienced a measure of success and was credited with the growth and stability experienced there in the first half on the 1990's. The initial success, which saw the growth rates going up to 9 percent in 1994, momentarily made Carlos Menem, the then President, and Domingo Cavallo, the then minister of finance heroes in Argentina. The latter years were far from rosy. It's hard to put a finger at what really went wrong and some things even surprised seasoned economists, like the fact that

External Assignment Research Paper Example | Topics and Well Written Essays - 1500 words

External Assignment - Research Paper Example Simpson was taken into custody suspected as a murderer (Associated Newspapers Ltd., 2012). The prime objective of this research paper is to review the above described case. Moreover, the research paper will also analyze about how the criminalist in this case handled the evidences and determine whether these were positively or negatively involved in the outcome of the case. In relation to the case of "People of the State of California vs. Orenthal James Simpson,† the forensic experts along with the criminalists gathered evidences specifically through DNA analysis techniques. During those days, DNA evidencing technique was quite popular and regarded as effective tool for law enforcement investigation departments in solving murder related crimes (Saferstein, 2010). The concept of DNA evidencing emerge with the idea that every individual possesses unique DNA structures except in the case of identical twins. DNA evidences can be extracted from multiple sources that include bones of victims, hair strands, teeth, blood and saliva sampling (James, 2012). During the trial of the ‘Orenthal James Simpson’ murder case, the first type of evidence, which came forward was about the DNA fingerprinting. This evidence was brought forward almost a year after the death of ‘Nicole Brown’ and ‘Ronald Goldman’ (Fingerprinting, 20 14). Another law ignorance instance came up in front when Simpson refused to turn himself or surrender as per demanded by the local police forces (Hunt, n. d.). Moreover, through DNA analysis, the blood traces found in the crime scene were also confirmed to be similar to the blood traces found on the door of Simpson’s car (Associated Newspapers Ltd., 2012). Apart from these, the blood on the footprints matched with the shoe size of Mr. Simpson and on other articles found at the crime scene. Adding to this, the prosecution also brought forward the case evidence of a 9-1-1 call made by Simpson’s ex-wife as she

Historical accounts Essay Example for Free

Historical accounts Essay Historical accounts that support the role of globalization in poverty reduction are observed especially during peace time and pro-globalization among countries. There is at least eighty percent of the world population that lived at an inflation-adjusted $1 per day at the onset of wartime in the early nineteenth century (Srinivasan and Wallack 2003). Half century by half century, this level is consistently lowered with drastic improvement in post-war period. However, up to this day, debates continued at the gates of international organizations such as WTO, WB, IMF, etc. Most of the protagonists are still in doubt not on how globalization contributed to economic growth but more importantly how it impacted the poor. These debates are inconsistent with historical accounts that proved globalization as solution to poverty. The impact of globalization on poverty is a matter of time to give way for trickle effects, institutional adjustments and change of perception on traditional beliefs. And so, in the long run, there are fewer questions about the benefits that poor may have from globalization. In this view, protagonists are highly concern on the distance between the deliveries of poverty effects of globalization to the grass root people which are normally the poor with economic growth serving as intermediary. They are primarily concern on how unequal the amount that is delivered and how unfair the delay of those amount. Thus, economic growth is criticized to prioritize the welfare of the well-off sector rather than the welfare of the poor. The preceding statement is especially true when the risks of well-off people are compared with the risks of the poor. The former have ease in searching for employment, has enough liquidity for the delay in the welfare delivery and thus in the position to be doubly happy. On the other hand, the latter is in reverse situation aggravated by subsistence living and exposure to physical hazards and capitalist exploitation making them in absolute despair by lengthy wait for delivery of minimal welfare. A good example is the inequitable income distribution. As industries expand business due to increasing inflow of direct and portfolio capital from abroad, well-off people are prioritized to jobs that are created due to formal education. If they are terminated or walk out of the office in their voluntary preference, they are still on-demand from expanding businesses. In contrast, the poor with little knowledge of how the sector works and little options would feel inferior and thus is willing to take whatever salary, conditions of work and other dictates of their employer. Both their mobility and freedom are taken away. There are several empirical studies that suggest globalization is pro-poor. Besley and Burgess (2003) found that there is a negative relationship between the poverty and income per capita. In monitoring GDP growth and poverty on a twenty-year frame from 1980 to 2000, Deaton (2001) concluded that economic growth is responsible to poverty reduction in India. China, which is referred to as an economic giant awaken by foreign direct investments, is quoted by Park and Wang (2001) to have drastically eradicated rural poverty since 1998. To evidence that the role of globalization is not only limited to income aspect, poor nations in Africa showed high levels of lowered poverty during the 1990s elevated by consequently addressing issues of mortality, education and AIDS epidemic. According to Besley and Burgess (2003), economic growth is only possible when three resources are present; namely, physical capital, human capital and technological change. This is illustrated in many ways. As the poor gain equal knowledge as the well-off, the former salary will increase and thus get both of them in equal footing in terms of income. As newer technologies primarily in agriculture increase the yield of the poor, their incomes as well as capitalist tendencies will simultaneously benefit. There is even a surplus harvest to attend their nutritional demands and less risk that a natural calamity will make this positive situation short-lived. As road infrastructure takes over the rural and farm areas, access to larger markets and faster economic activity will further improve the situation of the poor. These three sources of economic growth can be done minimally by the national and local government due to the vicious cycle of being a poor nation. With globalization, deficient funding will not be a hindrance to provide sources of economic growth due to inflow of capital. Accepting the argument that economic growth is indeed a good middleman to improve the welfare of the poor from globalization, the global community must have an average annual economic growth of 3. 8% by 2015 with lowest demand growth from Eastern Europe and Central Asia and highest demand growth from Sub-Saharan Africa (Besley and Burgess 2003). Eminent in the work of Srinivasan and Wallack (2003) is that globalization must be coupled with redistribution such as price support and public services to the poor. On the other hand, Besley and Burgess (2003) specifically defined their preference on the term redistribution through income distribution. They argued that the volatility of income distribution among developing countries is very minimal. Thus, the impact of globalization on the poor sector is loomed by increasing the average income of the population. In the study of Dollar and Kraay (2001), it is found that globalizing large economies of the developing world are characterized by large rise in trade and large fall in tariff barriers starting in 1980s. Economic growth compared to 1970s is higher for the following decade through 1990s. However, even with this figures, non-globalizing developing countries that are small did not gain the same success of their large economy counterparts. On the positive side, the welfare of the poor in respect to level of income is argued to have regression relevance with the level of trade. This study supported the role of globalization to poverty reduction and the effectiveness of economic growth to deliver the necessary benefits to industries, sectors and public at large. Still, the minority of small countries that may not have the sufficient market as well as institutional backbone to exploit large foreign capital inflows are hoping for the miracles of globalization. Conclusion Would I support Globalization in terms of growth? The answer is relative and as much as we would like to place straightforward answer we cannot. It is hard to generalize the behavior of developed countries towards transition economies. The overlapping issue is that the former is offering the latter with the chance to achieve the former economic status without going through historical hardships which can include war. This is an offer that is hard to give away especially that most governments of transition economies are administered by older people. In addition, inability to integrate relations to world affairs at least partially would make the transitional country weak against global shocks, external feud and addressing of internal objectives. To this view, globalization is for growth since it encourages transitional economies to join the globalization wave to improve national economy. On the flip side, it is rational for the leaders of transitional economies to make a well-prepared and if not rigid bilateral and multilateral agreements with trading partners. This is true especially when its internal resources are vulnerable to adverse spill-over effects of globalization. It is a conservative but helpful to view these treaties as anti-growth particularly on quality of life, history and well-being of the nation’s identity. Internal resources do not only include people, places and things but also intangible resources like ideologies and memories. Globalization serves as intervening if not modifying mechanisms to status quo of these components. As a result, to be able to protect the non-economic growth of several national treasures and resources, seeing globalization as anti-growth to internal well-being is valid. References Besley, Timothy J, Burgess, Robin (2003). Halving global poverty. Journal of economic perspectives, 17(3), 3-22. David Dollar, Aart Kraay (2004) Trade, Growth, and Poverty* The Economic Journal 114 (493), F22–F49 Deaton, Angus. (2001a), â€Å"Counting the World’s Poor’s Problems and Possible Solutions,† World Bank Research Observer, 16(2), 125-47. Park, A. and S. Wang (2001), â€Å"China’s Poverty Statistics,† China Economic Review, 23, 384-95. Srinivasan, T. N.? Wallack, J. S. ,â€Å"Globalization,Growthandthe Poor†,in De Economist, 152 (2), 2004, p. 251

Block Diagram Of A Communication System Computer Science Essay

Block Diagram Of A Communication System Computer Science Essay The doorway to the nowadays wireless communication systems was opened by Guglielmo Marconi when he transmitted the three-dot Morse code for alphabet S by the use of electromagnetic waves over a 3-KM link in 1895. This laid the foundation of modern communication systems ranging from broadcasting, satellite transmission and radio eventually progressing to nowadays cell phones. It wouldnt be wrong to say that wireless communication has indeed revolutionized our present society A sudden increase has been observed in the expansion of radio systems during the last two decades. We have seen great evolution in Wireless communication systems from 1G narrowband analog systems in the 1980s to the 2G narrowband digital systems in the 1990s. Now the existing 3G wideband multimedia systems are being deployed. In the meantime, research and progress in the future-generation wideband multimedia radio systems is vigorously being pursued worldwide. To connect mobile users to the public switched network the United States introduced first radiotelephone service by the end of the 1940s. Improved Mobile Telephone Service was launched by Bell Systems in 1960s due to which lots of improvements like direct dialing and increase in bandwidth took place. IMTS formed the bases of the first analog cellular systems. The term cellular was used due to the fact that coverage areas were split cells, they had a low power transmitter and receiver. BLOCK DIAGRAM OF A COMMUNICATION SYSTEM Figure 1. Block diagram of a general communication system. ANALOG vs. DIGITAL COMMUNICATION SYSTEMS Definition of Digital A method of storing, processing and transmitting information through the use of distinct electronic or optical pulses that represent the binary digits 0 and 1. Advantages of Digital low-priced reliable Easy to manipulate Flexible Compatible with other digital systems The information in digital form can only be transmitted without any degradation through a noisy channel Incorporated networks Disadvantages of Digital Sampling Error As compared to analogue, larger bandwidth is required in digital communications for the transmission of the same information. Synchronization in the communications system is required to recognize the digital signals, but this is not the case with analogue systems. Definition of Analogue Analogue is a transmission standard that uses electrical impulses to emulate the audio waveform of sound. When you use a phone, the variations in your voice are transformed by a microphone into similar variations in an electrical signal and carried down the line to the exchange. Advantages of Analogue less bandwidth is required More Accurate Disadvantages of Analogue Signal loss and distortion can be seen due to the effects of random noise which is impossible to recover GENERATIONS OF CELLULAR SYSTEMS The concept of cellular telephony was introduced in AMPS, short for Advanced Mobile Phone Systems. AMPS divided the total area into small regions called cells and this was from where the concept of cellular telephony started. Cellular Systems had many advantages such as they increased quality, capacity, reliability and availability of mobile telephone network. The generations of cellular systems are described below. FIRST GENERATION CELLULAR SYSTEMS First generation cellular telephone systems were introduced in 1980s. They were based on Analog Frequency Modulation technique. Each channel was assigned a sole frequency. First generation cellular systems offered only wireless voice services based on analog technology. Digital signals were only used for control information such as dialing a number etc. These systems were no able to cope with the increasing demands of users also they had very less capacity and provided poor voice quality. Some first generations systems are Advanced Mobile Telephone System, AMPS NAMPS, AMPS Total Access Cellular System (TACS) Nordic Mobile Telephone System (NMT-900) SECOND GENERATION CELLULAR SYSTEMS Second Generation Cellular Systems provided larger capacity and provided much better services to users compared to first generation systems. They were based upon Digital Modulation technique which led to great enhancement in networks capacity. Second Generation Systems used multiple access techniques such as TDMA and FDMA. The biggest draw back of Second Generation Systems was that its different systems were not compatible with each other. Therefore roaming between different systems was not possible. Some of Second Generation Systems are North American Digital Cellular, NADC Global System for Mobile Communication, GSM Pacific Digital Cellular, PDC CDMAONE, IS-95 CDMA In order to overcome Second Generation compatibility problem with increased data rates of modern internet applications, 2.5 Generation standards were developed. The best thing about them was that they allowed already existing Second Generation systems to be upgraded so that they can be used for higher data rate transmission. 2.5 Generation brought a new revolution in cellular telephony by supporting services like high speed internet and location based mobile services. Some of 2.5 Generation Mobile Systems are General Packet Radio Service, GPRS Enhanced Data Rate for GSM Evolution, EDGE THIRD GENERTAION CELLULAR SYSTEMS Designed to provide high quality and high capacity in data communication, Third Generation Systems require sophisticated spreading and modulation techniques. Third Generation Systems are aimed to provide voice quality comparable to land line telephony and also to support high data rate. These systems are compatible with circuit switched as well as packet switched data services. They are also compatible with the existing networks and use radio spectrum much more efficiently than before. Some Third Generation Systems are Wideband CDMA, WCDMA Universal Mobile Telephone System, UMTS CDMA 2000 BEYOND 3G The highly developed version of the 3G mobile communication are the 4G mobile communication services. It is estimated that 4G mobile communication services will give increase in capacity, data transmission with high speed, broadband, HQ color video images for users, graphic animation games in 3D, audio services in 5.1 channels. For the system and architecture of 4G mobile communication many researches are done. Developments are made in the terminal protocol technology for high speed packet services, larger capacity, enabling downloading application programs by public software platform technology, multimode radio access platform technology, and high quality media coding technology over mobile networks. Why 4G? Services like wireless internet and teleconferencing can be carried by 4G. Global mobility and service portability. Wider bandwidths. Increased bit rates. Less expensive. Mobile networks can easily be scaled. CHAPTER # 02 Multiplexing is a process in which a single carrier is used to transmit several different signals. These several signals are transmitted all together by combining them and forming one signal that will effectively move through the carrier bandwidth. When one transmission is done and the signal reaches the destination point, the integrated signal re-assembles into its actual form and is then received. Multiplexing is one of the most used techniques today in almost every communication system. Because of the technological advance multiplexing, we have seen major increase in efficiency of a wide range of telephony services and online applications. Multiplexing has become an effective technique that assists in everything from video conferences and web conferences up to bulk data transmissions and even making a simple Point-to-Point phone call. FDMA: FDMA is the most usual technique used for multiple accessing. FDMA stands for frequency division multiple access. It is clear from its name that in this technique the frequency is divided among the users as the available spectrum is shared among them in the frequency domain. The message signals are transmitted onto carriers for different users using particular RF frequencies. Within FDMA structural design the Single Channel Per Carrier (SPSC) is the simplest method where each channel is provided with a separate carrier. This scheme finds its essence in the fact that the channels are assigned on the basis of demand. Within a cell all the channels are available to all users all the time, and the channels are assigned as soons as a message signal is received or a request is made. Guard bands are used to reduce the chances of interference from adjacent channels. These guard bands are present between the bands allocated for various channels. In the implementation of the first analog cellular systems, FDMA is the multiplexing technique that was used. TDMA: Time division multiple access techniques allots different time intervals to different users for the transmission of signals and storage of the data is carried out in one frequency channel not like FDMA which uses one frequency per channel. Users are allowed to use the same frequency but the time slots are divided. In TDMA techniques the available spectrum is divided into small frequency bands as in FDMA, which are further sub-divided into various time slots. The user can access the frequency channel only for time slot allotted to him. User can use periodically the particular duration of time. In TDMA systems, guard bands are required between both frequency channels and time slots. SDMA: SDMA stands for Space-Division Multiple Access. It is a MIMO (Multiple-Input, Multiple-Output, a multiple antenna schematic architecture) based wireless communication network architecture. It enables access to a communication channel by the process of identifying the user location and establishing a one-on-one mapping between the network bandwidth allotment and the acknowledged spatial location that is why its mostly suitable for mobile ad-hoc networks. For majority of the well known mobile communication architectures such as CDMA, TDMA and FDMA, SDMA architecture can be configured and implemented CDMA: CDMA stands for Code division multiple access. CDMA systems are based on the spread spectrum technique. In which transmissions by all the users are carried out simultaneously while operating at the same frequency and using the entire spectrum bandwidth. For the identification and extraction of required transmission, each user is allotted with a unique code which cannot match with any other user. This issue of identification is due to the fact that all the users transmit simultaneously. To ensure this privacy, pseudo-random noise codes or PN codes are used. These codes are actually the orthogonal codes and its advantage is that it reduces the chances of cross correlation among themselves. By using this PN code assigned to the specific user, modulation of the message signal from an individual user is done. Then we have the CDMA frequency channel through which all the modulated signals from different users are transmitted. At the receivers end, the desired signal is then recovered by de-spreading the signal with a replica of the PN code for the specific user. The signals whose PN codes are not matched with the desired signal and are assigned to different users are not de-spread and as a result are regarded as noise by the receiver. CDMA differs from both TDMA and FDMA in a way that it allows users to transmit the signal at the same time and operate at the same nominal frequency so it requires less synchronization whereas in TDMA and FDMA frequency and time management is very critical so more dynamic synchronization is required. One more advantage of CDMA is that complete systems spectrum is used by signals and hence no guard bands are required to protect against adjacent channel interference. Intro to Spread Spectrum Communications Following are the major elements that can clearly describe the Spread Spectrum communications: By spread spectrum, bandwidth far in excess is available than that is necessary to send the information. Due to this characteristic the transmission can be protected against interference and jamming at the same time providing multiple access capability. An independent code known as the Pseudo random code is used for signal spreading across the bandwidth. The distinct nature of this code separates spread spectrum communications from typical modulation techniques in which modulation always spreads the spectrum somewhat. For the recovery of the original signal the receiver is synchronized to the deterministic pseudo random code. Users can transmit the signal at the same time and operate at the same nominal frequency by using independent code and synchronous reception. In order to protect the signal from interference a pseudo-random code is used. It appears to be random to anyone who does not have its pre-defined knowledge but in reality is deterministic, it is because of this fact that receiver is able to reconstruct the code needed for the recovery of the required data signal. This code used for synchronous detection is also called Pseudo noise sequence. Types of Spread Spectrum Communications Spreading of bandwidth of the signal can be achieved by three ways: Frequency hopping The signal is shuffled between different centre frequencies within the entire bandwidth available to the hopper pseudo-randomly, and the receiver used already knows where to look for the signal at a given time. Time hopping The signal is transmitted in short bursts pseudo-randomly, and the receiver knows when a burst is expected. Direct sequence Very high frequency is used to code the digital data. The code is pseudo-randomly generated. The same code is generated at the receiver end, and in order to extract the original data this code is multiplied to the received information stream. CHAPTER # 03 SOURCE CODING AND DIGITAL MODULATION 3.0 INTRODUCTION Digital Modulation is performed in order to represent digital data in a format that is compatible with our communication channel. Why Digital Modulation? Digital modulation schemes have greater capacity to convey large amounts of information than analog modulation schemes. 3.1 DIGITAL DATA, DIGIITAL SIGNAL Digital signal is binary data encoded into signal elements. Different encoding schemes for encoding digital data into digital signal are: 3.1.1 Non Return to Zero (NRZ) In NRZ there are two different voltage levels for 0 and 1. There is no transition in the middle of the bit. The absence of signal denotes 0 and a positive voltage level denotes 1. Figure 3.1, Non Return to Zero (NRZ) The major drawback of NRZ scheme is that it adds a dc component to the signal. 3.1.2 Multilevel Binary (AMI) In this encoding scheme there are more than two levels. No signal represents 0 and 1 is represented by some positive and negative voltage level. 1s pulses are opposite in polarity. Figure 3.2, Multilevel Binary (AMI) There is no dc component in this scheme and also there is no loss of synchronization for consecutive 1s. 3.1.3 Manchester Coding There is transition in middle of each bit, which acts as a clock as well as data. The low to high transition represents 1 and high to low represents 0. Figure 3.3, Manchester Coding 3.1.4 Differential Manchester In this scheme transition at the middle of the bit represents only clocking while transition at start represents 0 and no transition at start represents 1. Figure 3.4, Differential Manchester 3.2 ANALOG DATA, DIGITAL SIGNAL Analog data is first converted into digital data by using analog to digital converters. These converters use different techniques to complete their task, some of them are: 3.2.1 Pulse Code Modulation If a signal is sampled at regular intervals at a rate higher than twice the highest signal frequency, the samples contain all the information of the original signal. Each sample is assigned a digital value. Although its quality is comparable to that of analog transmission but still in this process some information is lost and the original signal can never be recovered. Figure 3.5, Pulse Code Modulation Delta Modulation Analog input is approximated by a staircase function. Function moves up or down at each sample interval by one level (d). Figure 3.6, Delta Modulation Delta modulation is easier than PCM in implementation, but it exhibits worse signal to noise ratio for the same data rate. But it is good for data compression. DIGITAL DATA, ANALOG SIGNAL Different digital modulation techniques are: Amplitude Shift Keying (ASK) A modulation technique in which digital data is represented as variations in the amplitude of a carrier wave is called Amplitude-shift keying (ASK). One binary digit is represented by presence of carrier, at constant amplitude and the other binary digit represented by absence of carrier. Figure 3.7, Amplitude Shift Keying (ASK) 3.3.2 Frequency Shift Keying (FSK) In frequency shift keying different frequencies are used to represent incoming digital data. Say in case of Binary Frequency Shift Keying f1 is used to represent 0 while f2 is used to represent 1. Figure 3.8, Frequency Shift Keying (FSK) In MFSK more than two frequencies are used and hence bandwidth is more efficiently utilized. 3.3.3 Phase Shift Keying (PSK) A digital modulation technique in which data is transmitted by modulating and changing the phase of the reference signal is called Phase-shift keying (PSK). In case of PSK, a finite number of phases are used. A unique pattern of binary bits is assigned to each of these phases. Generally, each phase encodes an equal number of bits. The symbol is formed by each pattern of bits that is represented by the particular phase. Figure 3.9, Phase Shift Keying (PSK) Figure 3.10, Constellation Diagram of BPSK The bandwidth of ASK and PSK are specified as: Whereas the bandwidth of FSK is given as: Where, R is the bit rate DF = f2 fc = fc f1 CHAPTER # 04 CHANNEL CODING 4.0 INTRODUCTION Why Channel Coding? In modern digital communication systems information is represented in bit streams, which are then modulated to analog waveforms before being transmitted onto a channel. At receiver this analog information is demodulated into bit streams, but because of the presence of interference and noise in the communication channel this bit stream may be corrupted. So to minimize occurrence of bits in error and protect digital data from channel noise and interference channel coding is used. How Channel Coding is performed? Additional redundant bits are added to the message data stream to perform channel coding, these extra bits assist in error detection and correction at the receivers end. Channel Coding at the cost of? Channel Coding is performed at the cost of bandwidth expansion and data rate reduction. 4.1 TYPES OF CHANNEL CODING TECHNIQUES There are two main types of channel coding techniques, Block Codes Convolutional Codes. Block Codes accepts k number of information bits and generate a block of n number of encoded bits, and thus are commonly known as (n.k) block codes. Some common examples of block codes are Hamming Codes and Reed Solomon Codes. Convolutional Coding is forward error correction technique that is currently most widely used in modern communication systems, this particular technique is used for real-time error correction. Unlike block codes which append redundant bits at the end of original message signal, Convolutional coding form a new codeword using original data stream. The encoded bits are not solely dependent on k current input bits but at the same time on precedent input bits. 4.2 CONVOLUTIONAL CODES In this project Convolutional Coding is implemented. Convolutional Codes are further classified as 1. Trellis Coded Modulation (TCM) 2.Turbo Codes. Trellis Coded Modulation (TCM) is non recursive, non systematic and does not require an interleaver. Turbo Codes on the other hand are recursive, systematic, parallel structured and they also require interleaver. In Wideband CDMA systems TCM is used for all channels while Turbo Codes may be used for DCH and FACH channels. Turbo Codes are sometimes classified as separate branch of Channel Codes so from here onwards word Convolutional Code will only be used for TCM. Types of Transmission Channels Coding Schemes Coding Rate RACH Convolutional Coding 1/2 BCH PCH DCH, FACH 1/2, 1/3 Turbo Coding 1/3 Table 4.1, WCDMA Specifications 4.3 CONVOLUTIONAL CODE REPRESENTATIONS 4.3.1 Polynomial Representation No. of input information bits = k No. of encoded bits = n No. of stages (Constraint Length) = K Code Rate = k/n Encoded CodeWord = U The following example shows how Convolutional Codes are represented. Let g1(x) and g2(x) be encoder polynomials, where g1(x) = 1 + x + x2 g2(x) = 1 + x2 Let input message bit stream be 101, therefore input message bit stream polynomial will be, m(x) = 1 + x2 The encoded codeword U will be combination of product of g1(x) with m(x) and g2(x) with m(x), m(x) x g1(x) = 1 + 1.x + 0.x2 + 1.x3 + 1.x4 m(x) x g2(x) = 1 + 0.x + 0.x2 + 0.x3 + 1.x4 Therefore the codeword U, becomes U = (1,1) + (1,0).x + (0,0).x2 + (1,0).x3 + (1,1).x4 U = 1 1 1 0 0 0 1 0 1 1 4.3.2 State Transition Diagram Convolutional Coding can be represented using State Transition Diagram. Following are State Transition Diagram and State Transition Table for code rate 1/2. Figure 4.1, State Transition Diagram for Code Rate  ½ Table 4.2, State Transition Table for Code Rate  ½ Again for the same input bit stream 10100, the codeword U = 11 10 00 10 11. In the input message last two 00 bits are tail bits. 4.3.2 Block Diagram Representation The following diagram shows block diagram representation of Convolutional Coding with Code Rate = 1/2 Constraint Length (No. of Stages) = 3 Figure 4.2, Block Diagram Representation of Convolutional Code with Code Rate =  ½ The following example illustrates the process of Convolutional Coding using block diagram representation for input bit stream 101. So the final codeword becomes, U = 11 10 00 10 11 4.3.2 Trellis Diagram Representation For input bit stream 101, the following diagram shows how Convolutional Coding is performed using Trellis Diagram Figure 4.3, Trellis Diagram Representation CHAPTER # 05 PULSE SHAPING TECHNIQUES 3.0 INTRODUCTION Why Pulse Shaping? It is done in order to reduce Inter Symbol Interference commonly known as ISI. How Pulse Shaping is performed? In order to achieve zero-ISI the overall system response must be equal to Nyquist frequency response. 5.1 RAISED COSINE FILTER Inter Symbol Interference significantly degrades the data detector ability to differentiate between a current symbol from diffused energy of adjacent symbol. This leads to the detection of error and increases BER. So in order to cater ISI, a real-time realization of Nyquist filter is applied in modern communication systems. Raised cosine filter is one of the realization of Nyquist filter. where r = roll-off factor = 1 ≠¤ r ≠¤ 0 and T = symbol period = 1/R Roll-off factor determines the filter bandwidth and represents a trade-off between the sharpness of the transition band of the filter and impulse response ringing magnitude of the filter. A Nyquist filter has following properties: Time response eventually goes to zero in a time period exactly equal to the symbol spacing. By sampling the symbol sequence at a given symbol time point, present symbol is not affected by the energy spreading from the adjacent symbols. The impulse response and the frequency response of the RC filter is Figure 5.1, Impulse Response of RC Filter Figure 5.2, Frequency Response of RC Filter Time response of the RC filter goes to zero with a period that exactly equal to the symbol spacing. As the response equals zero at all symbol times except for the desired one none of the adjacent symbols interfere with each other. 5.2 ROOT RAISED COSINE FILTER RC filter is divided into a root raised cosine (RRC) filter pair, with one at the transmitter end, which performs the pulse shaping in order to constrain the modulated signal bandwidth, and the other at the receiver end, that performs matched detection for optimizing the SNR of a known signal in AWGN presence. The Root Raised Cosine filter is so named because its transfer function exactly is the square root of the transfer function of the Raised Cosine filter. Where r = roll off factor and T is symbol period. The RRC filter bandwidth is equal to the root mean square (RMS) amplitude 2R. The impulse response and the frequency response of the RRC filter is Figure 5.3, Impulse Response of RRC Filter Figure 5.4, Frequency Response of RRC Filter Both RC and RRC have similar pulse shapes, but the RRC pulse makes slightly faster transitions, therefore the spectrum of RRC pulse decays more rapidly as compared to the RC pulse. Another important difference between both pulses is that the RRC pulse does not have zero Inter Symbol Interference. Because of the fact that RRC filter is used at transmitter and receiver both, the product of these transfer functions is a raised cosine, which will result in zero ISI output. 5.3 ROLL OFF FACTOR The roll-off factor, r, is a measure of the excess bandwidth of the filter, i.e. the bandwidth occupied beyond the Nyquist bandwidth of 1/2T. Where à ¢Ã‹â€ Ã¢â‚¬  f is excess bandwidth and Rs is symbol rate. CHAPTER # 06 SPREAD SPECTRUM Spread spectrum is a type of modulation where the data is spread across the entire frequency spectrum. This process of spreading the data across the entire spectrum helps signal against noise and interference. These techniques are mostly employed in cell phones and also with wireless LANs. To qualify as a spread spectrum signal, two criterions must be met The transmitted signal bandwidth must be in excess of the information bandwidth. Some function other than the data being transmitted is used to establish the bandwidth of the resultant transmission. Why Spread Spectrum ? Due to its exclusive and peculiar properties spread spectrum is preferred over other modulation schemes. Some of these properties are characterized as advantages and disadvantages of a basic spread spectrum system below. Advantages †¢ It reduces the effects of multipath interference and at times removes them entirely. †¢ Frequency band is shared simultaneously with other users. †¢ Pseudo random codes ensure protection of transmission and privacy. †¢ As the signal is spread over an entire spectrum it has a low power spectral density. Disadvantages †¢ Due to spreading operation it consumes more bandwidth. †¢ It is at times difficult to implement. Types of Spread Spectrum Techniques Most commonly used techniques in a spread spectrum systems are Direct Sequence Spread Spectrum Frequency Hopping Spread Spectrum Frequency Hopping Spread Spectrum A frequency hopping spread spectrum hops from one narrow band to another all within a wider band. In general the frequency hopper transmitter sends data packets at one carrier frequency and then jumps to another carrier frequency before sending ore packets and continues the same routine throughout the period of transmission. The pattern that emerges seems to be random but is in fact periodic and easily traceable by pre configured transmitter and receiver. These systems can be vulnerable to noise at a particular hop but usually are able to send packets during the next hop. Direct Sequence Spread Spectrum Most widely used technique of spread spectrum is the Direct Sequence Spread Spectrum. A Direct Sequence Transmitter receives the incoming data stream which is to be transmitted and then converts it into a symbol stream where the size of a symbol can be one or more bits. Using any of the modulation schemes for digital systems such as Quadrature Amplitude Modulation (QAM) or Quadrature Phase Shift Keying (QPSK) this symbol stream is multiplied to a noise like sequence known as pseudo random sequence. It is also know as a chip sequence. As a result of this multiplication the bandwidth of the transmission is significantly increased. Figure 3. Direct Sequence Spread Spectrum System Figure 3. shows the working of a basic Direct Sequence Spread Spectrum system. For clarity purposes, one channel is shown working in one direction only. Transmission For each channel a distinct and different Pseudo random code is generated. In order to spread the data the data stream is multiplied with the previously generated Pseudo random code. The signal obtained as a result of this multiplication is then modulated onto a carrier. This modulated carrier waveform is then amplified before broadcasting. Reception The carrier wave is amplified as soon as it is received by the receiver. The signal received is then multiplied with a locally generated carrier which gives the spreaded signal. Again a Pseudo random code is generated on the basis of the signal expected. The process of correlation is carried out on the received signal and the generated code which gives the original message signal. Pseudo-Random Noise The spread spectrum systems are constructed very similar to other conventional systems. The difference being the addition of pseudo random generators both at the transmitter and the receiver which generate the Pseudo noise sequences required for the functionality of Direct Sequence spread spectrum. These pseudo random noise sequences are used for spreading the signal at the transmitter side and dispreading at the receiv

Impacts of Amalgamations and Takeovers

Impacts of Amalgamations and Takeovers Chapter 2: Literature Review 2.1. Introduction Investigators have been analyzing amalgamations and takeovers in the context of their characteristics and the impact on the development of both the entities over the past several years. In actuality, Weston et al. (2004) opine that the experts and researchers in the field have provided a large quantity of records related to the topic. There are many reasons why companies follow development policies related to amalgamations and takeovers. This permits rapid acceleration in addition to having a quick and instant approach to markets, both local and international. It is also likely to touch renowned brands, apply knowledge and skill, and widen the dimension and extent without losing time. In the sphere related to real estate, a participant (real estate firm) may want to promote a mutual organization for funding ventures on an individual basis. It may also consider entering into a joint venture with a construction enterprise in the domestic market so as to execute the venture as per assur ed measurements and highlighted conditions as stated by Jensen (2006). Clients are reassured when they involve themselves with big enterprises, which have a great degree of brand reputation and remembrance. During these times, they articulate their backing, not merely as clients but also as financers as they buy stakes so as to invest money in the enterprise. It also possible for a company to advance by augmenting returns or managing expenses which in turn can be attained by reorganizing and reconfiguring finances apart from using creative methods and reengineering. Some enterprises may also purchase brands, goods, and utilities to expand the goods portfolio of the enterprise. The capability of an enterprise to undertake a development policy by reallocating its resources in creating different facets of its presence was maintained by Hogarty (2000). This could be denoted by its production unit, RD, and through creating and promoting its brands and setting up more projects in parallel or varied spheres. Firms may also purchase extant enterprises or amalgamate with others to attain their objectives. Amalgamations and takeovers assist in accelerating development as the roles pertaining to infrastructure, branding, and manufacturing are clearly set up. Superior mediums which endorse development comprise of contracts, treaties, and agreements for varied ventures for a pre-determined time. All across the world, international corporates and enterprises are entering into purchases of and amalgamations with new firms, forming joint ventures and such equivalent associations on a common basis. Nearly fifty percent of the contracts pertaining to amalgamations and takeovers in India have been initiated by global enterprises. In 2005 alone, India witnessed global contracts of around 58 percent, a number which was double compared to Japans agreements at 21 percent. Internationally, amalgamations and takeovers entail dogmatic frameworks particular to a specific nation and the labor unions of the enterprises. Post the 1990s, economic revolutions have been occurring globally and this has seen a growing attraction for amalgamations and takeovers. The financial segment witnessed a newness which saw modifications being made to possession and trade regulations, an increase in the disposable earnings and as a result, the capacity to discover newer marketplaces and newer chances. Firms are now fully utilizing the reduced interest rates and cost of capital. This has assisted several enterprises in broadening their scope of operations at the domestic and global levels through partnerships, associations, amalgamations, and takeovers. Additionally, the presence of many global media enterprises which publish information pertaining to contracts and partnerships on a large extent-particularly in segments related to production, cars, retail and others. On the other hand, it is extremely crucial for companies to ensure specific advisory metrics before they perform their functions related to amalgamations and takeovers, especially in huge markets which have not been discovered. Amalgamations and takeovers also have the ability to shift the stakeholder worth affirmatively or adversely, which may result in a scenario, which eats away into the prosperity. When local takeovers in addition to global amalgamations get transformed into deficit-making and zero-worth developing patterns, all of these experience impediments. When stakeholders are not going to benefit from such projects, the costs of shares decline and thus, such agreements must consider all the primary essentials before opting for the linked choices. The influence of amalgamations and takeovers may be favorable or harmful to the development and this may take a long time and also be extremely costly for a total revival from an impediment. The existing segment also highlights the investigations and examinations undertaken on the topic by analysts. One needs to have sufficient data evaluation and also conduct hypothetical tests while assessing the influence of amalgamations and takeovers. Adequate links should also be deduced to comprehend the reason and impact correlations in amalgamations and takeovers in context to the criteria such as development of trade, stakeholder worth, productivity, and general performance. As the current study is linked to the influence of international amalgamations and takeovers, it is crucial to analyze the global amalgamations. Global partners who function from India while being based in the European Union framework have been examined depending on specific extant data. Additionally, domestic amalgamations and takeovers have also been analyzed. 2.2. Theoretical Background: Mergers Acquisitions (MAs) 2.2.1. Definition Amalgamations and takeovers can be superiorly comprehended as development polices to enhance the income of the enterprise and also, its capital foundation. Sometimes, for two enterprises, with similar or dissimilar trade functions, to amalgamate on specific ranks is a superior trade choice. An amalgamation of this type assists in imparting a blend of experience and finances. A commercial amalgamation of this type functions as a solitary body between edifying impacts and worth values of a commercial amalgamation and takeover (Jensen and Ruback, 2003). Though the phrases ‘amalgamations and ‘takeovers are frequently employed collectively, they are two extremely varied procedures. Amalgamations describe the merging of two different enterprises into a single entity. The two enterprises join each other, and shift all their resources and functions into a new one. This procedure includes the merging of all types of resources-employees, manufacturing facilities, and functions into the new entity that is shaped. The new entity shaped out of this has its individual distinctiveness, edifying representation, and groups of convictions. It is pointless to state that they are possessed by both the parties which share their resources to develop the new identity (Huang and Walkling, 2007). A takeover is considered as the purchasing-out procedure of an enterprise by another with the goal to stimulate management of its assets, investments, and functions. Takeovers occur when a firm purchases a major share of another firms stakes, assets, and liabilities (Weston et al., 2004). Firms experience a supplementary benefit when this occurs as they get the management apart from the functioning assets, in contrast to when they purchase merely the stakes, in which scenario they have to only compete with the other shareholders. Purchasing assets includes more expenses and offers an extensive capital foundation (Singal, 2006). Now let us consider acquisitions. This phrase also has been employed for many perspectives and is understood also. Takeover is a vague expression and though it may denote a context similar to acquisitions; the two are actually varied types of trade agreements (Jensen, 2006). A takeover is when a purchase is conducted without acquiesce or permission of the ente rprise being taken over. Takeovers come with an adverse action that entails the attaining of another firm with the intent to ‘manage it. When an enterprise desires to take over another firm, it tries to purchase all its shareholders. Takeovers are the ones which do not have the approval of the firm being purchased and they are often nearly undertaken as a hostile proposal. This now clearly explains the different expressions and implications attached to amalgamations, acquisitions, takeovers, partnerships, and associations and how their context is based in the situation in which they are being applied. 2.2.2. Types of Mergers Acquisitions Mergers can occur at parallel, perpendicular, or   multinational levels. Each kind of amalgamation has not only its own typical characteristics but also a distinct impact on the work processes and trade functions. Horizontal Mergers When two enterprises or enterprises that have parallel trades, which amalgamate to develop an entirely novel trade enterprise, it is known as a parallel merger. The enterprises which enter into a parallel amalgamation combine their assets as individual enterprises to shape a novel entity. These enterprises are thus capable of making a more robust enterprise which has a wider capital base and greater resources. The rationale behind this is to acquire a larger market share and become a dominant force in the market (Shleifer and Vishny, 2009). Such parallel amalgamations provide several benefits. They enable larger presence and greater range in addition to optimal performance ability to the novel entity. The two previously distinct entities now have the benefit of augmented resources capable of executing procedures in a superior method to ensure consistent supply of goods, which are of much better quality (Mitchell and Mulherin, 2006). Even in India there are a few instances of parallel amalgamations, for instance, the amalgamation between Indian carriers which occurred between Lufthansa and Swiss International apart from Air France and KLM (Bottazzi et al., 2001). The United Kingdom (UK) has witnessed several parallel amalgamations. In reality, the results of several investigations have depicted that nearly 60 percent of all amalgamation agreements which have occurred post-2001 have been parallel amalgamations (Firth, 2000). The same notion is also put forth by Berndt (2001). He also states that most of the amalgamations which happened post-deregulation and liberalization of the economy were parallel in character. Another instance of a parallel amalgamation like the one of Birla Cement and Larsen Toubro (LT) is related to the cement sector. Additionally, the amalgamation of Kingfisher Airlines and Air Deccan in addition to the one between Jet Airways and Air Sahara depict parallel amalgamations in the airlines sector. The Tatas and the Birlas are two huge corporate entities, which have amalgamated in the telecommunications sector. Vertical Mergers A perpendicular amalgamation is one in which enterprises which are elements in a supply chain or which function as utility suppliers or subsidies in the equivalent type of trade resolve to become one entity. It is noticed that such amalgamations occur when firms resolve to augment their forte in the supply aspect (Agrawal et al., 2002). Perpendicular amalgamations manage to keep rivals away by maintaining stress and managing their supply firms. The perpendicular amalgamation is thus capable of seizing a bigger market share for their goods while the supply group fails to back the goods of other contenders. This plan assists the enterprises to closely react to their clients needs. The element pertaining to the rivals is capable of keeping the prices from rising as the supplies are not reimbursed for (leanmergers.com). Logically, the outcome of this action is an extremely robust management and more revenues as the firms attain an upper hand over their contenders. An instance of perpendicular amalgamation is the one between Ford and Vauxhall who are car producers, who have acquired or purchased automobile enterprises. When Ford purchased Hertz, it was an instance of a perpendicular amalgamation (Loughran and Vijh, 2007). Another example of a perpendicular amalgamation in the telecommunication industry is that of Reliance Communication Ltds purchase of Flag Telecom. Conglomerate Mergers Multinational amalgamations occur amongst two entirely varied enterprises. Such enterprises are participants at distinct degrees and have no equivalents in the good variety, markets, clients, supply chain, or any other criterion. Multinational amalgamations occur amongst such enterprises and a novel association is shaped in addition to new trade contracts. Multinational amalgamations show only one line of power or authorization, which manages the trade functions from a solitary aspect of knowledge, resources, client power, and market experience which guarantee enhanced trade after the multinational trade which occurred before (Asquith et al., 2003). Multinational amalgamations are executed so as to diffuse the dangers over an extensive base and thus avoid any chief impediment for the enterprise (Huang and Walkling, 2007). Financial Acquisitions Monetary attainments are related to the capital and fiscal aspect of trade plans such as Management Buyouts (MBOs) or Leveraged Buyouts (LBOs). Such purchases are not considered in the same context as amalgamations and takeovers (Travos, 2007). 2.2. Stimulus for Amalgamations A large chance to develop the value of mergers is when incentives for the same are anticipated or envisaged by investors. Investigators such as Asquith et al. (2003), Agrawal et al. (2002), and Andrà © et al. (2004) have developed comprehensive data related to the topic pertaining to the incentives for mergers. Mergers must be discouraged by varied reasons such as a superior geographic market, varied economies, superior capabilities and price efficient conduct, widening of the trade, the synergy incorporated, and shifting assets to superior administrators so as to maximize the assets and create superior results, which is the chief objective. It has been proved that mergers and amalgamations are distinctive mediums related to financing in the context of advancement by many investigators. The chief idea or objective behind attaining a profitable investment would be important, particularly if such a concept is considered. In the event of the presence of incentives such as professions or sometimes pure respect improvement occurrences, the possibilities of investments becoming valuable, particularly when there are totally varied incentives for the varied enterprise to triumph and create the line of business. In the event of mergers, at the point when the primary incentive shapes the real advantageous investment, one has to consider the reason why the merger may seem to be priceless. A primary reason may be the lack of the expanding capability to access an unexploited market. One may anticipate a merger so as to achieve these objectives in an effortless manner (Gugler et al., 2003). For a triumphant merger, one should ascertain aspects of robust revenues and synergies. The focus in this matter should also lie on comprehending the incentives for cross-border mergers. It is noticed that dissimilar to domestic mergers for cross-border mergers, one needs to develop an incentive evaluation (Conn et al., 2001). The FDI incentives would resort to internalization, ownership, and position advantages as good instances as mentioned by Moeller et al. (2004). In the context of cross-border mergers, a merger is not likely to have unique ownership advantages. On the other hand, locational advantages may be unclear. Thus, in lieu of purchasing an enterprise in a totally varied geographical market, there are many idea-procedures which happen constantly. The majority of crucial internalization advantages in the instance of cross-border mergers are when products are sold overseas by one nation to another. In the event of the incentives, the OLI framework provides a backdrop for the objective of cross-border mergers, but other factors are also very crucial. It is considered by Chen and Findley (2002) that there is a speed if the retrieval to international markets since those from Greenfield investment cannot be equaled. By the end of the initial ten years of the 21st century, the waves in mergers were analyzed by Danzon et al. (2004). This was later referred to as the ‘Cross Border wave. In contrast to other waves of the century, Evenett explained the trends of the merger wave to be distinct. The utility segment displays how the merger wave comprises of more mergers since specific elements had become components of the ‘Cross Border and more so, with the liberalization effects in addition to the industrial monetary facet, this has additionally intensified privatization. There had to be a greater milieu to assist cross-border mergers. With the chief investment, the incentives had to be linked to the dogmatic surrounding to guarantee an element of the merger wave as depicted by Evenett. For other such grounds, cross-border mergers rise as depicted by Nicholson and McCullough (2002). When the researcher has to handle the theoretical information pertaining to mergers, he tries to present an expansive literature for better understanding. In the context of mergers, a maximized direct policy contention seems to be the most superior and is accountable for the impact of the mergers. A reasonable facet of the investigation discusses how both, markets and clients in the market commence many types of mergers. There has also been a theoretical investigation relating to ideas such as benefit predictions, envisaged variations in the outlays, diversified and varied quantum, in addition to who will eventually gain or lose on account of mergers. These theoretical investigations found their crux in oligopoly markets. Oligopoly markets have been the only crucial markets to utilize the rationale behind mergers opine Conn et al. (2001). So as to manage such market situations, a firm which enjoys a monopoly generally cannot enter into a merger. In a merger of firms, there would be no impact on the market outcomes. In varied production scenarios, the strengths of demand and cost in varied types of oligopoly markets function in different ways while the emphasis of the literature is on studying mergers. 2.3. Cross-Frontier There are several literatures which pertain to theories related to mergers. In reality, none of these literatures actually differentiate that in the management of international merger procedures there must be variations. To achieve cross-border mergers several simultaneous investigations have been undertaken, which complement that there are several literatures dealing with the impacts of these mergers. In terms of globalization, it relies so this is a close expansion and additionally it fulfills international economy apart from varied types of market endeavours to expand international firms of their functions. With consistent methods related to cross-border mergers there is relevant contention for the perusal of â€Å"Indianization† of different segments as described by Ozawa (2002). On account of the absence of attempts in merging administrative techniques, business is the driving aspect behind communication and culture which is why different cross-border mergers were unsucce ssful states Finkelstein (2009). Every type of merger is impacted by these matters instead of cross-border agreements which may be dominant. A further peril is that cross-border contracts are entered into merely to gain benefits. To regard the facets of wondering literature there are subjects and anxieties in context of the methods which incorporate cross-border mergers that have been completed. For cross-border mergers, informative differences are real in the hypothetical model facet as stated by Estrin (2009). In the process of achieving merger benefits, jargon, cultural problems, and official systems are cited as types of primary obstacles. The capabilities to draw attention of skills from other enterprises have been provided to differences useful influence procedures, attainment of communal mergers in firms and the particular speed. Generally, between the links amongst the merging methods of firms informative differences are the source of distrust, to which the triumph can be impeded by the communication matters. There is no clear theoretical model on the other hand, which is related to the impediments which harm the efficiency; despite it being a hypothetical exemplar. In contrast to domestic mergers, for a successful cross-border merger, however, this proves that the closer the facets, the more the obstacles, and these are limited to specific countries since many of th ese obstacles are linked to the regulatory and informative systems prevalent there. According to the origin of enterprises in context to the obstacles, there exist behavioral national variations which need to be expected and depend on the country. By being a source of synergy, informative differences can enhance merger ability in addition to generating benefits as opined by Fama (2009). However, impediments can be built by this, for expanded manner of spreading that is more possible. Instead of any of the domestic mergers participating in cross-border mergers as to gain more useful outlooks for the firms a theoretical exemplar method has been developed by Bjorvatn (2001) for the profit of handling cross-border mergers. By allowing varied mediums of entry in addition to cross-border mergers and for assessing and impacting triumph of cross-border mergers in addition to assessing entry outlays these are the primary variables, he employed to follow Fama (2001). Greenfield investment has been shifted into avenues which are minimally attractive by entry outlays, by methods using cross-border mergers augmented to the degree of revenue. On the other hand, in that market for achieving success as expected facets domestic mergers are regarded to be linked to a rise in the entry expenses. In contrast to the domestic ones in envisaging cross-border mergers success focus on hesitancy which is the outcome in this scenario. While choosing the expected outputs in addition to the entry outlays, the cross-border mergers can also provide access benefits to the distinctive market. In this regard, for both domestic and cross-border mergers, there is present, a theoretical merger literature. In terms of price uncertainty and demand exemplar depending on the matter of the doubt as put forth by Das and Sengupta (2001) both in domestic and cross-border mergers is the correct method. 2.4. Experiential Study MAs are expansion strategies that corporates adopt to increase scale and market share rapidly. They are also used to diversify business interests or acquire technological capability, capital, expertise, or enter new markets. From the business perspective, growth is seen in terms of capital, profits, and shareholder value, operations become more efficient, and business registers improved performance. One of the major benefits of MA transactions is the decrease in costs as resources are shared and processes are streamlined. There have been many instances of companies taking the MA route to save costs like Wells Fargo, whose acquisition of First Interstate in 2006 resulted in cost savings of USD 1 Billion (Jensen and Ruback, 2003). With the restructuring of processes and systems that follow a merger, companies become more efficient and effective as the organizations operational dynamics are realigned and streamlined. The benefits of operating on a large scale, reduction or elimination of wasteful and duplicating processes, the sharing of personnel and other resources all lead to high savings and better performance. The sharing of resources including capital infusion reduces costs and facilitates growth and with open lines of communication, a company can maximize its return on investments. Large-scale operations give companies larger purchasing power and rates for material in bulk can be contracted at far cheaper rates than if supplied to separate companies. MAs deliver value in terms of cost savings, operational efficiencies, large-scale economies, increased market share, diversified product lines, and expertise and technology. Bradley and colleagues (2008) observed that mergers and acquisitions in allied industries also create effective synergies for companies to cut costs and increase returns. Large-scale operations lead to better economical management which gives companies a better chance to compete in the market as they can deliver value to the customer by providing better products and services at cheaper costs. As mentioned earlier, MA deals increase customer base and market share leading to increased revenues and profits. It also helps eliminate unhealthy competition as the new merged enterprise now strives for dominance instead of competing with each other as they did before the merger like the successful Hindalco-Novelis acquisition. Acquiring a company is the quickest and most effective way to enter a new market or increase market share and standing in a current area and location of operations. A company can grow at a faster rate and be market ready virtually by Day One whereas in a Greenfield project, a company might have to strive for years to start production and penetrate the market. A merger also effectively deals with competition as shared resources, expertise and technology coupled with the economies of scale make them competitive and help increase market share.   To be considered successful, mergers and acquisitions either register higher revenues or effectively reduce costs. There has been a lot of research indicating that cost saving rates has been higher than increased revenue figures in MA deals. This is not to say that companies have not grown in terms of revenue. It merely indicates that the rate of growth is not matched by the rate of savings. Operational efficiencies, cost savings, and increased revenue are the three vital objectives of a merger (Jarell and colleagues, 2008). Andrade and colleagues (2001) have researched and studied the success of mergers and acquisitions in India and whether the stated objectives of the MA have been met. Between 2005 and 2008, 26 MA deals were struck with international companies from 13 different countries. Their study revealed that most mergers did not register high profits or top-line growth. Some companies showed negative rates of return and thus the objective of increasing revenues taking the MA route was not successful. Similar results have been recorded in the US although 107 mergers that took place in the US in 2000 showed higher valuations and asset increases. Shareholder value and company valuations in India did not increase as substantially as they did in MA deals that took place in the UK (Anandan and colleagues, 2008). The main motivational drivers for mergers and acquisitions are market dominance and efficiency whilst growth of shareholder wealth though a prime factor is not impacted as heavily and sometimes falls. Research indicates that valuations are less when larger multinational companies pick up controlling stake. 2.5. The Indian Merger Environment This study examines the MA environment in India and also studies previous research on MA analysis of firms in Europe. A major portion of this study is devoted to the understanding of mergers and acquisitions in the EU. With the opening up of economies globally and governments announcing policies to attract FDI and amending rules and regulations for foreign companies to do business, a lot of international MA deals have been witnessed in Europe. A lot of research and information is available on business collaborations in Europe along with the entry of cross-border companies. These studies are detailed and comprehensive accompanied by detailed analysis (Chaudhri, 2002). A lot of mergers in Europe took place at the turn of the millennium. Bridgeman (2000) observes that the UK, France, and Germany have been aggressive in conducting MA deals across the world. International companies have entered their markets with heavy investments and taken over local companies as well but these countries impose restrictions on certain industries and sectors. Luxembourg, for one, however, does not have any restrictions. The European Union Merger Control Act was formulated in September 2000 to assess and evaluate mergers and acquisitions as Europe tried to centralize operations to facilitate transnational transactions. This Act was amended in 2004 and 2008. The objective to bring about uniformity in procedures across Europe for business though noble is contentious as there are many differences between the richer nations and countries not doing as well. There are also policy shifts and business conditions that create issues related to the venture and investors are often forced to rethink their options (Bridgeman). Mani (2005) observes that the nations who are far more economically developed hold the edge in cross-border negotiations. The European Merger Control Act came into force on 21st September, 2000 and further amendments were carried out in 2004 and 2008, but these were only enacted on 21st December 2009 giving the European Commission more discretionary powers (Anandan and colleagues, 2008). Mergers across borders demand that cultural and social uniqueness and sensitivity have to be factored in and this is controlled by the EC Authority. The amendment in 2008 was to create and empower the EC Authority to be able to function as a single window facilitator and ensure social and economic ends were met and local interests protected through each venture (Rice). The European Commission Green Paper (2001) has also highlighted the amendments led by the Act but there still are a lot of problems and procedures that are yet to be sorted out by the Act especially those to do with applications and filings. These gaps and ambiguities create roadblocks in MA transactions especially when international companies merge with domestic companies to create powerful alliances and companies such as the PO-Stena and American Airlines-British Airways in the UK which faced problems due to differences in policies (Bridgeman, 2002). The European Commissions success with the single window facilitation for mergers and acquisitions in Europe is still to be proven. The EC intervention to facilitate and fast-track procedures for mergers in Europe was a noble intention especially the amendments in 2008, which empowered the commission considerably (Basant, 2000). There are about 200 mergers that have benefited from this Act. In fact after the amendments in 2008, mergers increased from 10% to 15%. Thus, the issues before the 2008 Amendments and after need to be studied in conjunction to understand benefits, valuations, and profitability impact on the host nation. Many deals may have been affected adversely or may not have been affected as such due to the expectation of the changes in policy. Deals require clarity, timing, focus, and policy and any variable that could be affected due to ambiguity of policies or lack of trust is bound to affect the merger. The European framework is a structure, which is far more rigid and severe than the USs as illustrated by the GE-Honeywell experience and alliances in aviation. These strictures impact profitability in Europe and investors end up with lower margins. The Merger Control Act however, remains a structure that any nation can learn from and adapt to suit its own conditions and environment. Mehta and Samant (2007) suggest that this Act could be adapted to suit India in the current business environment. A reduction in companies going in for restructuring or strategic alignments has put pressure on countries with extended and cumbersome policies as companies prefer to shif