Who Am I? Essay example -- Writing Education Essays

Who Am I? Today as I glance back at the principal paper that I composed for this class, I see that it isn't the sort of paper that I normally compose. It isn't loaded with large, complex words. Or maybe it is a paper that does what it should, clarify in straightforward english my musings regarding the matter. Those considerations are that today most school kids are grumblers and understudies head off to college since it is the standard. I likewise gave two or three modified works to these. I never truly stood firm with respect to which of those related to me. In any case, I feel that they all do one might say. In a manner I am flippant. I leave stuff to the latest possible time, I pack, and I get a mentality and simply state screw it. With respect to the representation part of the main paper, I do feel that I am a parent and the college is my youngster. This understanding is similar to a cartogram. A cartogram is a guide that is contorted to a connection between two particular areas. The local es for this situation is simply the college and. This is twisted in light of the fact that the college is a lot bigger than me, and it deals with me. The second allegory that I contemplated is somewhat more sensible. The college is our god, and on the off chance that we don't give, we shalt not get. These lead into who I am. Basically I am a hippocrate. I censure the understudies who hesitate, while I am one of the most noticeably awful at dawdling. Take this paper for instance. I am sitting at my flat mates PC, it's eight o'clock Tuesday night, and I'm drinking a bourbon coke. I previously referenced the kid/parent thing. The god some portion of it is the equivalent, however. I believe I am a divine being. I can so the entirety of this and still get the evaluations. In any event that the manner in which it is by all accounts. In reality I attempted it, and it didn't work. The individual who composed the paper is no... ...y composing, I don't see myself. I see somebody that is satisfying the crowd with what he composes, however not satisfying himself. I am unsettled composing stuff that is dreary and needs to feeling of duty. In any case, that is the thing that has consistently been a prerequisite. I like composing this sort of paper better. A paper that I can compose with a type of excitement, eventhough I am better at composing the other kind. Composing along these lines just causes me to feel better. I don't have the foggiest idea, call me odd. In the main paper I composed with an extremely noticeable cover. In any case, as the papers advanced, I feel that I may have been beginning to shed that cover a bit. Perhaps it was the distinctive style of composing. Perhaps it was simply me. Perhaps it was because of the E-mail conversation, where got the opportunity to individuals with out conversing with them straightforwardly. I don't have the foggiest idea. The experience has been extremely gainful. I simply trust I can keep it up.

Advantages and Disadvantages of Intercultural Communication Assignment - 2

Preferences and Disadvantages of Intercultural Communication - Assignment Example A few contrasts were noted to be varieties in intrigue, convictions, aspirations, ways of thinking, and objectives. The methodology taken by the creators will be investigated as a positive development, given that a great many people have neglected to exploit the advantages that accompany powerful intercultural correspondence, simply because they don't have the foggiest idea about the correct ways to deal with take in getting their interchanges put across appropriately. Section 12 is the piece of the book where the writers bring perusers near available resources by which they can take part in, and guarantee powerful correspondence in an intercultural setting. This is finished by stressing zones of skill where individuals can figure out how to improve as a major aspect of successful intercultural correspondence. Dissecting the way to deal with the section, it tends to be said that the creators were very rising above with their conversation since they saw skill from a few points of view, including sociology, interpretive, and basic viewpoints. When this was done, it was conceivable to take care of the peruser with data on systems for accomplishing viable correspondence in accordance with every one of these regions of skill. The book ended up being a helpful source in comprehension and valuing the association of setting and intercultural correspondence. From the information created from the book, it very well may be said that setting alludes to the reason and condition under which an individual makes a similarity, discourse or communicates something specific. Intercultural correspondence, then again, is a type of correspondence that is occurring among individuals from an alternate social foundation. The relationship that exists between these two is that individuals from various societies have various settings for similar thoughts or messages that are put over. Therefore, while imparting, it is imperative to accentuate and concentrate on the need to introducing one’s message in a way that can be comprehended and deciphered in the very setting in which he looks to communicate.â â

What Happens If Someone Overdoses From Prozac

What Happens If Someone Overdoses From Prozac Depression Treatment Medication Print What Happens If Someone Overdoses on Prozac? By Nancy Schimelpfening Nancy Schimelpfening, MS is the administrator for the non-profit depression support group Depression Sanctuary. Nancy has a lifetime of experience with depression, experiencing firsthand how devastating this illness can be. Learn about our editorial policy Nancy Schimelpfening Medically reviewed by Medically reviewed by Daniel B. Block, MD on February 07, 2020 twitter linkedin Daniel B. Block, MD, is an award-winning, board-certified psychiatrist who operates a private practice in Pennsylvania. Learn about our Medical Review Board Daniel B. Block, MD on February 07, 2020 Paul S. Howell / Contributor / Getty Images More in Depression Treatment Medication Causes Symptoms Diagnosis Types Childhood Depression Suicide In This Article Table of Contents Expand Overdose Symptoms Possible Complications Getting Medical Help Treatment Next Steps View All Back To Top Prozac (fluoxetine) is a popular medication used in the treatment of major depressive disorder, obsessive-compulsive disorder (OCD), panic attacks, and some eating disorders.?? Fluoxetineâ€"the active ingredient in Prozacâ€"is also available under the brand name Sarafem for treating premenstrual  dysphoric disorder (PMDD). If taken as prescribed, the risk of Prozac overdose is low. If a person takes more than prescribed either accidentally or intentionally, however, an overdose is possible. What Is an Overdose of Prozac? Several factorsâ€"including age, weight, current state of health, and whether the person has also taken any other drugs along with Prozacâ€"will determine whether any given dose will be harmful to an individual.  This makes it impossible to generalize about what particular dose would be considered to be an overdose.  It is quite possible that one person will make a complete recovery from a particular dose while another may not.   In general, however, if a person has taken more than what they have been prescribed, especially in the presence of overdose symptoms, they should seek out immediate medical attention. If you believe that you or someone else has taken too much Prozac or more than the prescribed dose, you should seek immediate medical care or contact Poison Control at 800-222-1222. Symptoms The most common symptoms of a Prozac overdose include:?? UnsteadinessConfusionUnresponsivenessNervousnessUncontrollable shakingDizzinessRapid, irregular, or pounding heartbeatHallucinationsFeverFaintingLoss of consciousness Possible Complications Some of the possible medical complications that can occur following an overdose include: SeizuresAbnormal heart rhythmRhabdomyolysis (rapid skeletal muscle breakdown, leading to the release of substances into the bloodstream which can cause kidney failure)??Disseminated intravascular coagulation (widespread blood clotting in the small blood vessels, leading to tissue death and organ damage)Kidney failureRespiratory failure Getting Medical Assistance Due to the fact that emergency room visits can be quite expensive, people will often hesitate to seek emergency help for a possible overdose, especially if the person does not seem to be experiencing any symptoms.  One very good resource for these cases is your local Poison Control Center. The Poison Control Center phone lines are staffed by individuals with training to assess your situation and provide you with advice.  They can be reached 24 hours a day, seven days a week at 1-800-222-1222.  There is no charge for their services. Information to Have Ready When you are calling either Poison Control or emergency services, you should have the following information available, if possible:?? How much of the medication they may have swallowed (actual amount or your best guess)Their prescribed dosageThe persons age, sex, and weightAmount of time since they took the medicationAny other drugs or substances that they might have takenInformation about whether the person might have had suicidal intentA list of their symptoms How to Help After an Antidepressant Overdose Treatment If the overdose occurred fairly recently, then the emergency room will probably pump the persons stomach to remove any remaining medication.  They may also give them activated charcoal to absorb any remaining traces of the drug. Since no antidote for Prozac exists, the goal of treatment is to monitor and support the patients vital functionsâ€"such as heartbeat, breathing, and blood pressureâ€"until the person has recovered.  Treatment may also involve counteracting any complications that have developed, such as seizures.?? Next Steps After a person has received treatment for Prozac overdose, there are common questions such as how to prevent future overdoses, what to do if the overdose was intentional, and whether the person can continue taking Prozac. Preventing Future Overdoses ?You can prevent future overdoses by always taking your medication exactly as prescribed. Avoid combining Prozac with alcohol or illicit substances, which can make overdose more likely or worsen any adverse effects that you might experience. Also, be careful to take your medication at the same time each day and never take two doses at the same time to make up for one that you missed.?? Some medications may interact with Prozac. Always inform your doctor of any other medications or supplements that you may be taking. When the Overdose When Intentional If the overdose was on purpose, it is important to get help from a mental health professional to address suicidal thinking and behavior. If there is an immediate danger of self-harm or suicide, hospitalization and stabilization may be necessary. Further treatment depends upon your doctors or psychiatrists advice but may involve the use of another type of antidepressant, psychotherapy, or some other treatment. If you or a loved one are feeling suicidal, please contact your personal physician, a suicide hotline, a hospital emergency room, or other appropriate emergency services for assistance. Tips for Coping With Depression and Suicidal Thoughts Continuing Prozac After an Overdose Whether you continue on your medication depends upon your doctors recommendations. In many cases, you may need to continue taking your medication for a time as you gradually reduce your dose while your body adjusts. You should never stop taking Prozac suddenly, since you may experience symptoms of withdrawal such as insomnia, headache, irritability, and mood swings.??

Implementing A Business Intelligence Team Essay - 1538 Words

1.2. Anticipated Outcomes By adopting a business intelligence team, Acosta will achieve company-wide goals quicker. The team will support all functions in the value chain, aiding them to become stronger performers. With the retail team, business intelligence will help decrease drive time so more time is spent in the stores. Human Resources will realize savings in lower employee turnover, saving time searching for candidates and training. Category Management will have flexible, useful reports that will support more proactive research into business issues and opportunities. The Finance team will deliver better reporting to the field so associates can better understand their value to the company. Acosta will have a better pricing model that will account for market differences as well as manufacturer differences. The business intelligence team backed up by the proper software will support the company to be more analytical and deliver the needed value for our clients. 1.3. Recommendations When determining the best way for the company to move forward, different options were considered to improve the analytical bearing of the company and developing a business intelligence team was the best option. Acosta’s corporate goals to retain talent, win at every customer, exceed revenue targets, and deliver better execution in-store will be supported by this team. The project will entail hiring a team of business intelligence analysts as well as purchasing both optimization andShow MoreRelatedWhy Data Mining Is The Extraction Of Knowledge From The Various Databases1329 Words   |  6 Pages(Musan Hunyadi, 2010). Data mining consists of using software that conglomerates artificial intelligence, statistical analysis, and systems management in the act of extracting facts and understanding from data stored in data warehouses, data marts, and through metadata (Giudici, 2005). 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It discusses the advantages of implementing these initiatives, identifies the challenges, and suggests vendors who could help implement these initiatives in the company. The 3 initiatives are customer relationship management (CRM), business intelligence (BI) analytics, and agile development methodology. CRM helps in understanding everything about the customers, including their business challenges, current use of products (both ours and competitors), and futureRead MoreRole of Technology in Retail Essay711 Words   |  3 Pagesdeciding how to win the consumer’s business and increase revenue, they are also constantly trying to figure out ways to reduce costs. Technology helps r etail managers improve areas of inventory and supply chain management as well as customer satisfaction and loss prevention (Green, 2002). This paper explains how technology improves the effectiveness of retail management and has changed the role of managers. 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What Everyone Is Saying About Environmental Argumentative Essay Topics and What You Should be Doing

What Everyone Is Saying About Environmental Argumentative Essay Topics and What You Should be Doing Argumentative essay is about arguing and debating on a subject, which is debatable. You might also see academic essay. You can also see analytical essay. It is crucial to be aware an argumentative essay and an expository essay could possibly be similar, but they vary greatly with regard to the quantity of pre-writing and research involved. Essay writing per se is no simple undertaking to do. Whether it's an argumentative or expository essay which you are writing, it is crucial to develop a clear thesis statement and a very clear sound reasoning. Researching the topic will enable you to find out more about what fascinates you, and should you pick something you really like, writing the essay will be more enjoyable. Good persuasive essay topics need to be persuasive. You must specify the sort of your custom made essay on pollution, page count, formatting and style requirements, and deadline. Thus, it's important to read corresponding formatting guide. It is preferable to use templates since they include all necessary formatting elements. Persuasive essays are a really good means to encourage the reader to check at a particular topic in a different light. At the conclusion of these list, you are going to discover links to a variety of argumentative paragraphs and essays. Your thesis needs to be relevant so the write-up can use a structure that's flexible in order to fit in the shoes of the readers. It is vital to decide on a great topic to be able to compose a terrific paper. Maybe, it's even among the easiest methods to complete coral reef essays. If you would like to compose descriptive essays on a coral reef, we've got additional strategies for you. Bear in mind which you can make funny argumentative essays if you do a few things. What to Do About Environmental Argumentative Essay Topics Your tutor won't be content to see this kind of assignment, and that is going to reflect on your grade. The student should investigate a topic, evaluate evidence, collect, generate, and set a standpoint on the subject in a powerful and concise way. To write a fantastic argumentative essay the students first must investigate several sides of the argument, allowing them to make an educated stance. You cooperate with seasoned pollution essay professionals that are eager to aid you in your studies! The essay may also describe the root of the pollution difficulties. If as you are preparing a report you just analyze specific literature, the essay demands an excelle nt penetration into the issue. You can be totally sure your paper is going to be delivered in time and be of the maximum quality. Ballots without a paper trail needs to be banned. Generally, the teachers or professors assign the topics by themselves. Students are accustomed to the simple fact which their professors give them with the assignment's topic. To write a strong argumentative essay, they should begin by familiarizing themselves with some of the common, and often conflicting, positions on the research topic so that they can write an informed paper. Many students think that it is a waste of time. Doing sports in college needs to be mandatory. College students ought to be grateful to their family for the chance to go to college. It is for a high level of study. On the flip side, some argue that the expense of college leaves students with crippling debt they'll never have the ability to repay.

Lvmh in the Recession the Substance of Style Free Essays

http://www. economist. com/node/14447276 LVMH in the recession The substance of style The world’s biggest luxury-goods group is benefiting from a flight to quality, but the recession is also prompting questions about the company’s breadth and balance Sep 17th 2009 | Paris | from the print edition * * Bloomberg â€Å"THERE are four main elements to our business model—product, distribution, communication and price,† explains an executive at LVMH, the world’s largest luxury-goods group. We will write a custom essay sample on Lvmh in the Recession the Substance of Style or any similar topic only for you Order Now â€Å"Our job is to do such a fantastic job on the first three that people forget all about the fourth. For decades LVMH’s formula has worked like a spell: seduced by beautiful status-symbols, perfect shops and clever advertising, millions of people have swooned forgetfully towards the firm’s cash registers. At Louis Vuitton, LVMH’s star company, the model’s pricing power has yielded consistent profit margins of around 40-45%, the highest of any luxury-goods brand. These days customers are finding it far harder to forget about price. The seriously rich, of course, are still spending freely. But much of the industry’s rapid growth in the past decade came from middle-class people, often buying on credit or on the back of rising house prices. According to Luca Solca of Bernstein Research, 60% of the luxury market is now based on demand from â€Å"aspirational† customers rather than from the wealthy elite. The recession has quickly reversed the trend to trade up, and people are delaying expensive purchases. Bain Company, a consulting firm, expects the industry’s sales to fall by a tenth in 2009, to â‚ ¬153 billion ($225 billion). Some executives even expect a lasting shift in customers’ preferences, towards discretion and value. Bernard Arnault, chairman and chief executive of LVMH, believes that the whole industry needs to rebrand itself. â€Å"The word luxury suggests triviality and showing off, and the time for all that has gone,† he says. Brands which sold â€Å"blingy† easy-to-sell products, milking old names, he says, will fare particularly badly in the new environment. LVMH, by contrast, has never taken such an approach, he says, instead emphasising quality, innovation and creativity. To underline these values, the group is going back to basics in its daily operations. â€Å"Before the crisis, we were putting a lot of energy into beautiful stores, but now we care a bit less about expanding our network and even more about design and price,† says an executive. A few years ago, for instance, at the height of the boom, one LVMH brand was putting diamonds all over its watches, so that it was almost difficult to tell the time. â€Å"Now we are getting back to what really matters, which is nice movements and design,† he says. For some luxury firms, the recession’s effects have already been brutal. Private-equity firms and other outside investors which rushed into the industry at its peak have suffered most. â€Å"At the top of the market this industry was perceived as easy by outsiders,† says Mr Arnault. â€Å"You borrowed 80% of a target’s asking price and hired a good designer, but the strategy has not been successful in several cases. † Lenders to Valentino, an Italian fashion house, are reportedly trying to renegotiate its debt. Permira, a private-equity group, bought the firm in 2007 in a deal valuing it at â‚ ¬5. billion. Permira has since written down its equity investment of about â‚ ¬900m by more than half. Prada Holding, through which Miuccia Prada and her husband control Prada Group, another Italian house, recently restructured its loans in order to defer payment to banks. Prada Group has denied that there are talks to bring in a minority shareholder. Two parti cularly weak firms, Christian Lacroix, a Paris-based ready-to-wear and haute couture label which used to be part of LVMH, and Escada, a German maker of luxury womenswear, filed for bankruptcy earlier this year. Amid this turmoil, LVMH is performing relatively well (see chart 1). It has benefited from an established pattern in the luxury industry: when people have less, they spend what they do have on the best quality. Shoppers are going for fewer, classic items—one Burberry raincoat, rather than three designer dresses, or a single Kelly bag by Hermes, a French luxury-goods group, instead of four bags from various lesser designers. For this reason, says Yves Carcelle, chief executive of Louis Vuitton and president of fashion and leather goods for LVMH, â€Å"Vuitton always gains market share in crises. As reliable and sturdy as one of its own handbags, therefore, Vuitton is carrying LVMH fairly comfortably through the recession. In the first half of 2009 the group’s revenues were about the same as a year before, though profits were 12% lower. Two divisions—wine and spirits, and watches and jewellery—were the worst affected: their revenues each fell by 17% and the ir profits by 41% and 73% respectively (see chart 2). Rapid de-stocking by retailers exacerbated the effect of falling demand. But the falls were offset by Vuitton, where revenue rose by a double-digit percentage, registering gains in every market. â€Å"It is incredible that in a downturn the consumer still buys so many Louis Vuitton bags, but she or he does,† says Melanie Flouquet, luxury-goods analyst at JPMorgan in Paris. Vuitton’s performance, and the overall robustness of LVMH, a global conglomerate with more than 50 brands and revenues of â‚ ¬17. 2 billion in 2008, should allow it to take advantage of its competitors’ weakness in the recession. In the next few years we expect several failures in the industry and good opportunities to acquire assets at attractive prices,† says Mr Arnault. Shareholders in the firm are particularly preoccupied by what he might buy and sell in the next few years. What explains Vuitton’s resilience? Beneath the gloss of advertising campaigns, catwalk shows and each season’s fleeting trends, Vuitton brings a machine-like disciplin e to the selling of fancy leather goods and fashion. It is the only leather-goods firm, for instance, which never puts its products on sale at a discount. It destroys stock instead, keeping a close eye on the proportion it ends up scrapping (which it calls the â€Å"destruction margin†). In 2005, when Maurizio Borletti, owner of several prominent department stores in Italy and France, was preparing for the opening of a refurbished La Rinascente department store in Milan, he recalls, the Vuitton people built a scale model of the building in their offices to understand customer flows and get the best positioning. â€Å"In this they’re the most professional in the industry,† he says. Unlike most other luxury marques, Vuitton never gives licences to outside firms, to avoid brand degradation. Its factories use techniques from other industries, notably carmaking, to push costs down ruthlessly and to allow teams of workers to be switched from one product to another as demand dictates. It has adopted methods of quality control, too: one quality supervisor came from Valeo, a French auto-parts supplier. The result is long-lasting utility, beyond show, which is valuable in difficult times. Owning shops gives Vuitton control over levels of stock, presentation and pricing. It was not therefore affected by the panicked price-slashing of up to 80% by American luxury department stores in the run-up to Christmas last year—a â€Å"catastrophe† for others in the industry, according to Mr Arnault. Although other LVMH divisions have been hit by outside retailers de-stocking during the crisis, Vuitton has managed its own inventory, with no competition for space from other brands. With a global network, says Mr Carcelle, the firm can move poorly selling stock to shops where it has performed better. The luxury of diversity Vuitton’s ability to offset the steep falls in other divisions shows the value of the diversified conglomerate model in luxury goods. Richemont, the industry’s second-largest company, has a less varied portfolio and greater exposure to watches and jewellery, demand for which has been especially weak. According to a recent trading statement, its sales fell by 16% in the five months to the end of August. A group structure also yields savings when negotiating deals for advertising space, property and credit-card fees. It helps to have a specialist beauty retailer, Sephora, and a chain of airport shops, DFS, to sell perfumes and cosmetics. When Vuitton develops watches, say, it can call on the talents of TAG Heuer. But LVMH’s breadth also comes in for criticism. Although there is undoubtedly value in some diversification, some people ask whether 50-odd brands under one roof are too many. Vuitton, for instance, would doubtless like to see disposals of weaker brands as a result of the crisis, and a greater concentration of resources on the group’s key businesses. The group’s executives devote the bulk of their attention to the most important of these: Louis Vuitton, Moet Hennessy in drinks, TAG Heuer in watches, Christian Dior in perfumes and cosmetics, Sephora and DFS. The group has many smaller businesses, and these get much less attention in such a big group. LVMH does not disclose financial figures for individual brands, but at its presentation of first-half results the group’s finance director replied to an analyst asking about fashion and leather-goods that a â€Å"handful† had lost money â€Å"somewhere†. There is speculation that Celine, a ready-to-wear clothing and accessories label, Kenzo, a fashion brand which analysts have long suggested LVMH dispose of, or Loewe, a Spanish leather-goods brand which has so far failed o win much of a following outside Spain and Japan, are among the less profitable. Nevertheless, the group can use the might of Vuitton to support its smaller, upcoming brands. A department store, for instance, may be asked to take Loewe or Celine in order to get Vuitton. That often frustrates people at Vuitton, however, who would prefer to use the power of the brand for its own benefit, says a person who knows the company well. â€Å"They’ve never heard of another of LVMH’s brands saying, ‘Either give this to Vuitton or I won’t come’,† he says. Apart from the synergy in watch design, Vuitton does not find that it benefits much from the rest of the group. The reason why LVMH has many small brands which aren’t quite making it, says another person familiar with the company, is that Mr Arnault is an optimist who believes that every property can at some point be turned around. That can pay off: some years ago Mr Arnault halted the imminent sale of a make-up line. Thanks to the distribution muscle of Sephora, it has since turned into a bestseller in America. Investors, however, are nevertheless wary of what they see as Mr Arnault’s tendency to collect brands. The crisis has also underlined the fact that Vuitton dominates the group’s results. Were it not for Vuitton, estimates one analyst, LVMH’s sales would have fallen by 3% in the first half of 2009 and profits would have plunged by 40%. In normal times Vuitton contributes about half of the group’s profits, and most of the rest comes from Moet Hennessy. In the first half of this year, however, Vuitton contributed an estimated 70% of profit. That leads some people to question whether LVMH is overly dependent on the leather-goods firm. â€Å"You can argue that there’s nothing as good as Vuitton in LVMH’s portfolio,† says Pierre Mallevays of Savigny Partners, who was formerly director of acquisitions at LVMH, â€Å"but that simply states the fact that LV’s business model is the gold standard of luxury brands; no other brand in the world compares to it. † The biggest risk to LVMH is Vuitton, argues Ms Flouquet, since it accounts for such a big proportion of profits; the company depends on it, she says. The risk to Vuitton, in turn, is that it could fall out of fashion or lose its exclusivity in the eyes of consumers. So far there is no sign of fatigue with the brand. LVMH’s senior managers have devised ways to refresh it. In the late 1990s, for example, Mr Arnault saw that there was a risk that as a maker of leather goods alone, Vuitton could be perceived as boring. In 1997 he hired Marc Jacobs, then a relatively unknown designer, to design a fashion line. The aim was to generate seasonal buzz and press coverage. Vuitton’s senior executives at the time were against the idea, fearing that adding fashion could undermine a timeless image, but Mr Arnault’s move proved successful. To avoid overexposure of its signature â€Å"Monogram† print, Vuitton has taken care to develop a wide range of products and other patterns. â€Å"We increase the number of product lines and we are careful to have several different colours and shapes,† says Mr Arnault. Thus Vuitton sells reasonably priced handbags—the smallest Speedy Bag costs â‚ ¬430 in Paris—but also wildly expensive custom-made luggage, reinforcing its exclusive image. Another effective tactic is to make limited-edition handbags which are hard to get hold of. Five or so years ago Vuitton depended to a large degree on one market, Japan. Most Japanese women owned at least one Vuitton product—and hence provided a large proportion of Vuitton’s profits, which worried analysts at the time. Yet the Japanese market for luxury goods was souring. Spending on such items in Japan has fallen sharply since the end of 2005, according to a recent report by McKinsey, a consulting firm. Young women are more individualistic than their mothers, and are seeking out lesser-known brands. You used to see thousands of Vuitton bags coming at you in the Ginza shopping district but far fewer now,† says Radha Chadha, author of a book, â€Å"The Cult of the Luxury Brand: Inside Asia’s Love Affair with Luxury†. That reliance on one country is no longer so marked (see chart 3). Fortunately, Vuitton has since rapidly established a strong position in what it hopes will become another Japan: China. â€Å"The Chinese consumer is in a love affair with the Vuitton brand,† says Ms Flouquet. According to LVMH, in the first half of 2009 sales to Chinese people (at home and travelling) made up 18% of Vuitton’s revenue. Despite widespread concerns about counterfeiting in the country, the Chinese are now Vuitton’s biggest customer base after the Japanese. The key to the firm’s success, says Mr Arnault, has been approaching the market exactly as if it were a developed market. â€Å"We treat the Chinese customer as being very sophisticated. † Many competitors, by contrast, have at times lowered their standards for shops in China, he says, using inferior furniture or positioning their stores poorly. Going into new markets and developing new product lines will enable Vuitton o continue producing double-digit growth for years to come, says Mr Carcelle. On every trip to mainland China—he makes five or six a year—he tries to discover a new city and meet its mayor. Mr Carcelle is also tackling other new frontiers: in October he will open a shop in Sukhbaatar Square in Ulan Bator. â€Å"Already if you go to an upmarket disco in Ulan Bator you will see a significant number o f our bags,† he says. Vuitton’s expansion into China, Mongolia and new product lines such as watches and shoes, suggest that the leather-goods firm will continue to be LVMH’s main source of growth. However, it also means that the group may become more rather than less reliant on Vuitton. In theory, the answer could lie in strengthening some of LVMH’s smaller names, such as Fendi, a fashion and leather-goods brand. But buying a big, established, global brand with potential for growth could be both a quicker and a surer route. Or maybe that oneImagineChina A new collection? Analysts and bankers are convinced that Mr Arnault wants to buy the Hermes Group, a producer of leather goods and fashion which matches Vuitton for quality and design. Because Hermes is run so conservatively, says an investment banker who knows LVMH well, it is only a quarter of the size that it could be. â€Å"Mr Arnault would grow it while preserving its values,† he says. Earlier this year, there were rumours that LVMH would sell Moet Hennessy to Diageo, the world’s biggest spirits group, which already owns 34% of the business. Such a sale could raise money to buy Hermes. Mr Arnault, however, refuses to be drawn into commenting. For the moment, such an acquisition is impossible, since the family which controls Hermes does not want to sell, and the firm is strongly defended against takeover. Nevertheless, says the banker, the family which controls it has several branches, all with different views. â€Å"It’s a pressure cooker and some day it will blow up,† he says. Chanel, another closely held global luxury brand, could also make a desirable target for LVMH. Some people recommend a merger with Richemont, which, Mr Solca argues, would address LVMH’s relative weakness in watches and jewellery. Any such deals, or selling Moet Hennessy, would radically change the balance of the group. â€Å"I would be surprised if LVMH sold Moet Hennessy. The business has high margins, high ashflow and it is well managed,† says Ms Flouquet. â€Å"They would probably only sell it if they had a large deal ahead. † Shareholders are nervous that LVMH will pay too high a price for a large acquisition. For this reason the group’s valuation may not fully reflect its performance during the crisis. Such concerns are not likely to deter Mr Arnault, who has dem onstrated his confidence in LVMH’s prospects in luxury by raising his stake in the group over time: he owns 47%. If LVMH does go shopping, it will probably behave like one of its best customers: with price in mind, but willing to spend on enduring prestige. How to cite Lvmh in the Recession the Substance of Style, Papers

White-headed Capuchin and Operation Clean Sweep free essay sample

? Queenisha Payne May 29th, 2013 Biology I Honors Period 6 â€Å"Outbreak† Movie Assignment: 1. The mercenary camp in the Motaba River Valley of Zaire was bombed in 1967 because in 1967, Motaba, a fictional deadly viral hemorrhagic fever, is discovered in a mercenary camp in Zaire and kept it as a top secret; two soldiers ordered the camp to be boomed to cover up the discovery and to stop the outbreak of the disease. 2. No, I would have removed all the people and disinfected all of them so the virus would stay in the forest ad nobody would die. 3. Sam Daniels and his crew were sent to the Motaba Valley, Zaire because there was a level 4 virus. 4. The mystery disease got to the Motaba Valley because one of the host animals, a white-headed capuchin monkey was illegally brought to the United States by James â€Å"Jimbo† Scott, an employee at the Biotest animal holding facility; he stole the monkey and takes it to Cedar Creek, California, to sell on the black market. We will write a custom essay sample on White-headed Capuchin and Operation Clean Sweep or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page During the trip, Jimbo is infected with the virus. 5. The tribesmans explanation of why the disease was affecting the tribe was because it was the god’s punishment for cutting down the rain forest. I do not feel that there could be any truth to the explanation because it does not make sense how other nature couldn’t be happy with loss of the plants and forests. 6. The characteristics of the mystery disease was that there were blistering everywhere, severe headaches, and bleeding from every orifice. 7. Casey showed so much concern about the small tear in Daniels suit as they were about to enter the BS4 area of the lab because they wore thick space suits and multiple airlocks, ultra- violet light rooms and workers must be intensely trained. 8. 9. The measures that were taken in Cedar Creek to contain the outbreak 10. Operation Clean Sweep is a plan by the military to bomb the town of Cedar Creek, with the approval from the President of the United States, who was the Ford’s partner at the African camp in 1967 and was responsible for its destruction, plans to use the bombing to cover up the virus’s existence to advance his weapon objective. Many officials thought it was necessary because they didn’t want to spend time curing the whole nation with the serum. 11. The reason that the E-1101 antiserum against Motaba virus kept it a secret because 12. Daniels was so intent on capturing the monkey in Palisades, California because they found out that the monkey is the host of the Motaba virus. 13. Daniels prevents the success of Operation Clean Sweep because Daniel and Salt took it upon themselves to fly in the way of the bomber to stop it. With support from Ford, Daniels is able to stay in the way of the plane long enough to convince the pilots that information was withheld from them. The pilot detonates the bomb over water instead of the town. Ford, having had enough of McClintock’s single-minded obsession, relieves McClintock of command and places him under arrest for withholding information from the President. McClintock promises to take Ford down with him, but Ford refuses. Sam and Robby make up, and the remaining residents of the town are successfully cured.

My Ideal Job

My Ideal Job Most people learn knowledge because they hope to obtain an ideal job for themselves. For my part, it is also an important reason that I learn knowledge.For my future working environment, I would like to work in marketing sector. Marketing has more to do with identifying customer needs and developing the right products to satisfy those needs, and it reaches are public through advertising. I hope that the company is located in Central Business District, and there are about a great hundred employees in the company.In addition, I think that the private secretary would be my ideal job through long studying and working. As the private secretary, I should help Director of Marketing to handle and answer his business correspondence, keep multifarious files and records of company, especially relating to some files and records of Director of Marketing, and take minutes of the meetings which is attended by him.Certainly, besides the salary, I expect to get some perks. For example, holidays and v acation time, Employee Assistance Program, social functions, subsidized health coverage for spouses, domestic partners, and competitive health care benefit coverage, including medical, dental, vision, life and so on. I need also grasp some professional knowledge about marketing, computer skills, negotiation skills, and experience of study abroad, except my basic knowledge for the job.In conclusion, because I know to speak and act cautiously, and I am very good at paperwork and daily routine, I feel that I might be suitable for the private secretary in the future.

A History of Napoleons Continental System

A History of Napoleons Continental System During the Napoleonic Wars, the Continental System was an attempt by French Emperor Napoleon Bonaparte to cripple Britain. By creating a blockade, he had planned to destroy their trade, economy, and democracy. Because British and allied navies had impeded trade ships from exporting to France, the Continental System was also an attempt to reshape the French export market and economy. Creation of the Continental System Two decrees, that of Berlin in November 1806 and Milan in December 1807 ordered all allies of France, as well as all countries who wanted to be considered neutral, to cease trade with the British. The name ‘Continental Blockade’ derives from the ambition to cut Britain off from the entire continent of mainland Europe. Britain countered with the Orders in Council which helped cause the War of 1812 with the USA. After these declarations both Britain and France were blockading each other (or trying to.) The System and Britain Napoleon believed Britain was on the verge of collapse and thought damaged trade (a third of British exports went to Europe), which would drain Britain’s bullion, cause inflation, cripple the economy and cause both a political collapse and a revolution, or at least stop British subsidies to Napoleon’s enemies. But for this to work the Continental System needed to be applied for a long time over the continent, and the fluctuating wars meant it was only truly effective in mid 1807-08, and mid 1810-12; in the gaps, British goods flooded out. South America was also opened to Britain as the latter helped Spain and Portugal, and Britain’s exports stayed competitive. Even so, in 1810-12 Britain suffered a depression, but the strain didn’t affect the war effort. Napoleon chose to ease gluts in French production by licensing limited sales to Britain; ironically, this sent grain to Britain during their worst harvest of the wars. In short, the system failed to break Britain. However, it did break something else... The System and the Continent Napoleon also meant his ‘Continental System’ to benefit France, by limiting where countries could export and import to, turning France into a rich production hub and making the rest of Europe economic vassals. This damaged some regions while boosting others. For instance, Italy’s silk manufacturing industry was almost destroyed, as all silk had to be sent to France for production. Most of the ports and their hinterlands suffered. More Harm than Good The Continental System represents one of Napoleon’s first great miscalculations. Economically, he damaged those areas of France and his allies which relied on trade with Britain for only a small increase in production in some areas of France. He also alienated swathes of conquered territory which suffered under his rules. Britain had the dominant navy and was more effective in blockading France than the French were in trying to cripple Britain. As time passed, Napoleon’s efforts to enforce the blockade bought more war, including an attempt to stop Portugal trading with Britain that led to a French invasion and the draining Peninsular War, and it was a factor in the disastrous French decision to attack Russia. It is possible that Britain would have been harmed by a Continental System that was properly and fully implemented, but as it was, it harmed Napoleon far more than it harmed his enemy.

Case Study Example | Topics and Well Written Essays - 1250 words

Case Study Example S G Cowen already has with them associates who had joined the firm as interns when they were in their first or second year in a business school. These associates had joined the firm in the break between their first and second years in their business schools and were offered full time employment as they completed their internship that started the following summer. Some other associates had never been to a business school but had served as interns in the firm for three years and were promoted as first year associates after they completed their internship. Very often officials of S G Cowen conduct ‘informational interviews’ prior to the actual formal process to gauge the level of seriousness and intent of the prospective candidates. Though this is essentially an informal process it helps the firm to focus on serious candidates and thus reduces unnecessary efforts on those that are genuinely not interested and have appeared just for the sake of appearing. It must be mentione d that prospective candidates have to appear for these informal interviews at their own expense thus automatically segregating those that were seriously interested from those that are rather casual about the whole process. S G Cowen also appointed ‘group captains’ or contact persons at every core business school to ensure students always had someone through whom they would be able to remain in constant contact with the firm. These contact persons are seldom ever from human resource department. Rather, they are professional investment bankers with long years of service with the firm. These people served the twin purposes of locating best possible candidates who would be able to seamlessly merge with the company and also attracting students who though interested in investment banking but are not quite sure as to which firm they would join. So, a contact person available whenever needed would surely be a great motivating factor. S G Cowen also initially concentrated only o n the top ten business schools. That resulted in often recruiting middle rankers in those schools. So they decided to go to other business schools too where they were able to recruit toppers of those schools. After all a business firm is interested in talent and should not be that much bothered about where they had studied. The company prefaced their recruitment process with a presentation where they clarified who they were, what they did and what distinguished them from other competing recruiters. All the while the company underscored the uniqueness of boutique bankers in that they had a flatter hierarchy than other large scale banks that not only permitted better exposure and interaction with clients but also better opportunities of career advancement. The firm conducts interviews based on both the resumes it has shortlisted and also holds an open session where students enrolled depending on their interest. This also allows them to have a larger pool of prospective candidates and hence the probability of getting better associates. What is your evaluation of the criteria used by this organization in

PERSONAL ETHICAL DEVELOPMENT EXERCISE Assignment

PERSONAL ETHICAL DEVELOPMENT EXERCISE - Assignment Example Mental well being of an individual is the overall result of his mind, body and soul. Therefore, it is essential to deal with the various issues confronting an individual in all these aspects. I will try to understand the various issues concerning the people of my responsibility and guide them in their mental requirements. I will assume the role of a mentor who can approach and assist them in any difficult situation. I will be greatly aware of my role as a leader in the physical well being of my people and I will always seek ways to ensure that they are physically and mentally fit. I will make sure that they go through physical training programs regularly and motivate them about the need of a sound body for a sound mind. In order to encourage them in maintaining their good health, I will also conduct such programs that motivate them. In keeping the unity and values of family relationship intact, I will encourage constant cooperation among the family members and such activities as sharing, discussions, entertainments, etc will be encouraged. I will always ensure that the people in the family and friend-circle know each other very deeply. I will encourage my acquaintances to share each other and motivate and help mutually. In the areas of education and career, I will always be cooperative with and helpful to other individuals of the group and I will ensure that there is long lasting harmony and unity in the group. I will be useful to all my colleagues and mates in their needs and will always search for their assistance and cooperation at times of need. Finances/Stewardship As a leader, I will always be careful about dealing with the finances and use my stewardship in the most effective way. I will look into the needs of my people and make use of the resources for their assistance. I will also motivate them as a steward and would not let go anything wrong about in my responsibility. I will always make sure that the people entrusted to me are at ease and comfort, and I will give priority to their needs. Service/Philanthropy In areas of service and charity, I will always maintain decorum and propriety in my activities and the people who reach out for my service or philanthropy will never be dissatisfied or frustrated about my role. I will always ensure that the people in need are given the best treatment and their comforts are always looked for. PERSONAL MISSION WORKSHEET Why do I desire to become as an organizational leader The role of an organizational leader is inevitable in the contemporary context of business and I feel it is the best way to be an agent of change in the industry. In the progress of an organization, the role of the leader is often emphasized and as a leader I desire to get the organization progressing, to get it operating at high efficiency in order to meet its short-term goals as well as the long term goals. "In a large complex organization and environment only a 100% fully engaged human leader can hope to achieve these lofty requirements to fulfill their duties. Thus, leadership is not for everyone, and leadership is one with responsibility. A leader must be able to

A Trip To The Moon Review Film Studies Essay

A Trip To The Moon Review Film Studies Essay Nowadays, cinema is significantly commercial and digitalised. However, the unique and often entertaining black and white films of the early twentieth century should not be forgotten. They should in fact be revered as films in their own right. A perfect example of early cinema at its peak is A Trip to the Moon (aka Le Voyage dans la Lune), which was directed by film pioneer George M li s in 1902. The majority of films from this period dealt with simple scenes of everyday life, such as the knocking down of a garden wall or the arrival of a train. However M li s made the transition from these early shorts to a more modern form of montage, which led A Trip to the Moon being regarded as a masterpiece of early cinema. The first scene of the film opens with a group of astronomers holding a meeting in order to discuss how to travel to the moon. The main astronomer, played by M li s, suggests that they build some type of capsule and fire themselves at the moon. After some argument, the scientists agree and build a cannon and a bullet-shaped capsule. They are launched at the moon via cannon by a group of showgirls and land comically in the eye of the moon. Once on the lunar surface, they meet the Selenites, the alien hostile inhabitants of the moon. One of M li s main inspirations for the film would be Jules Verne s novel From the Earth to the Moon, from which he got the idea of the projected capsule at the moon. The film also contains elements from H.G. Wells novel The First Men in the Moon, for example, the underground moon cave with gigantic mushrooms and the vulnerable inhabitants, the Selenites. M li s was a master of visual illusion due to him being a professional magician and a producer of theatre. He followed the example set by the main stage magicians of the nineteenth century, such as Jean Robert-Houdin, by integrating the newest technology into his theatrical spectacles. With film, M li s embraced its theatrical possibilities and through experimentation, he made swift advances in special effects, film editing, intricate sets and costumes, and literary content. The set design of the various scenes is elaborate. The painted backdrops merge flawlessly with the constructed parts and props, creating settings with great depth. The set design, costumes, and anthropomorphic objects provide the film with a fantastical surreal appeal, which both attract and astonish audiences. M li s was one of the first filmmakers to make use of special effects, using a number of ingenious techniques to create illusions. Cinematic devices such as stop-motion photography and film splicing were used to give the illusion of objects vanishing or changing. Examples of these techniques can be seen in the Selenites disappearing into a puff of smoke when hit by the scientists and the approach of the capsule towards the moon. For the duration of the film, themes of spectacle, absurdity, and burlesque are given far more importance than scientific logic or realism (Gunning 70). For instance, in the supposedly scientific scene of the launching of the capsule, the cannon is loaded by a troupe of showgirls dressed in a burlesque version of sailor suits (Gunning 70). M li s openly acknowledged the dominance of special effects over the storyline in his films as he once wrote, As for the scenario, the story or tale, I considered it last I utilized it only as a pretext, a context for tricks or pleasing theatrical effects (Gunning 71). A Trip to the Moon is not a forgotten gem of early cinematic history, but a film of energy, imagination, exploration, and humour that still pleasure audiences today. 2. A film review of Duck Soup (1933) The film Duck Soup, starring the Marx Brothers, is a funny satire with lively gags and some of the best physical comedy ever in cinema. Although it is nowadays regarded as a comic masterpiece, the film received poor reviews when it first came out in 1933, mainly for its satirising of politics and warmongering. Even to this day the Marx Brothers are greatly revered because of their masterful ability to treat their audience to riotous slapstick comedy, puns, riddles, and deadpan humour. All of the Marx Brothers comedy films were extensions of their vaudeville days (Gardner 15). Duck Soup is a perfect example of this as the visual gags that had previously been a success on stage, were then incorporated into their comic routines in their films. The 1933 film was directed by Leo McCarey. The film stars Groucho Marx, who plays Rufus Firefly, the new appointed president of the fictional nation of Freedonia. Firefly has a questioning attitude towards work ethic, which can be seen as he attempts to decrease work hours by shortening the length of lunch breaks for the workers. Rufus becomes infatuated with Mrs. Teasdale, but he is in competition for her hand with Ambassador Trentino of the neighbouring country of Sylvania. Rufus immediately insults the Sylvanian ambassador by slapping him across the face instead of shaking his hand. War is consequently declared between the two countries. However, the plot of the film is not of any real importance as it mainly serves as a chance for the brothers to make fun of dictators, government bureaucracy and the irrationality of reckless war. Duck Soup features the Marx Brothers at their very best. Both the continuous sequence of laughs and the satirical storyline are hilarious in their own right, but the film also provides the individual comedy sequences for the brothers, which are the real highlight of the film. The film contains some of their best material, providing a variety of comic settings and dialogue and some quite entertaining musical sequences. Two of their most iconic are featured in Duck Soup the mirror sequence and the lemonade stand scene. The mirror sequence is by far the most entertaining scene in the film, where Harpo, and Chico, and Groucho are all dressed the same and they mimic each other s movements as if they re looking in a mirror at themselves. Another excellent example of Marx comedy is the peanut stand scene where Chico and Harpo engage in a quarrel with the owner of a lemonade stand next to Harpo s peanut stand. Another humorous and surrealistic aspect of the film is in the final battle scene where the Brothers are dressed in an outrageous pastiche of military uniforms that complete the anti-war attitude of the dialogue (Gardner 87). The military uniforms worn by the Brothers are from several diverse nations and from different historical eras. The film is a constant reel of comedy, from the opening scene, where we meet Groucho s character, to the final scene of the shelter being bombed. Similar to other great comedies of the 1930s, Duck Soup does not require special effects or a completely logically storyline to attract an audience. Nowadays, Duck Soup is widely considered to be a stunning success of film comedy, and the Marx Brothers best film.

Levi’s Organization Essay

Levi Strauss & Co. is a worldwide corporation organized into three geographic divisions: Levi Strauss Americas (LSA), based in the San Francisco headquarters; Levi Strauss Europe, Middle East and Africa (LSEMA), based in Brussels; and Asia Pacific Division (APD), based in Singapore. The company employs a staff of approximately 10,500 people worldwide. The core Levi’s was founded in 1873 in San Francisco, specializing in riveted denim jeans and different lines of casual and street fashion.[3] From the early 1960s through the mid-1970s, Levi Strauss experienced significant growth in its business as the more casual look of the 1960s and 1970s ushered in the â€Å"blue jeans craze† and served as a catalyst for the brand. Levi’s, under the leadership of Walter Haas Jr., Peter Haas, Ed Combs, and Mel Bacharach, expanded the firm’s clothing line by adding new fashions and models, including stone-washed jeans through the acquisition of Great Western Garment Co. (GWG), a Canadian clothing manufacturer, and introducing Permanent Press trousers under the Sta-prest name. The company experienced rapid expansion of its manufacturing capacity from 16 plants to more than 63 plants in the United States from 1964 to 1974 and 25 overseas. They used of â€Å"pay for performance† manufacturing at the sewing machine operator level up. 2004 saw a sharp decline of GWG in the face of global outsourcing, so the company was closed and the Edmonton manufacturing plant shut down.[4] The Dockers brand, launched in 1986[5] which is sold largely through department store chains, helped the company grow through the mid-1990s, as denim sales began to fade. Dockers were introduced into Europe in 1993. Levi Strauss attempted to sell the Dockers division in 2004 to relieve part of the company’s $2 billion outstanding debt.[6] Launched in 2003, Levi Strauss Signature features jeanswear and casualwear.[7] In November 2007, Levi’s released a mobile phone in co-operation with ModeLabs. Many of the phone’s cosmetic attributes are customisable at the point of purchase.

Distinctions Between Mergers And Acquisitions Finance Essay - Free Essay Example

Sample details Pages: 24 Words: 7086 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Mergers and acquisitions (MA) and corporate restructuring are a big part of the corporate finance world. Every day, Wall Street investment bankers arrange MA transactions, which bring separate companies together to form larger ones. When they are not creating big companies from smaller ones, corporate finance deals do the reverse and break up companies through spinoffs, carve-outs or tracking stocks. The Main Idea: Two companies together are more valuable than two separate companies at least, thats the reasoning behind MA. This rationale is particularly attractive to companies when times are tough. Strong companies will act to buy other companies to create a more competitive, cost-efficient company. The companies will come together hoping to gain a greater market share or to achieve greater efficiency. Because of these potential benefits, target companies will often agree to be purchased when they know they cannot survive alone. Don’t waste time! Our writers will create an original "Distinctions Between Mergers And Acquisitions Finance Essay" essay for you Create order Distinction between Mergers and Acquisitions: Although they are often used as synonymous, the terms merger and acquisition mean slightly different things. When one company takes over another and clearly established itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist, the buyer swallows the business and the buyers stock continues to be traded. In the pure sense of the term, a merger happens when two firms, often of about the same size, agree to go forward as a single new company rather than remain separately owned and operated. This kind of action is more precisely referred to as a merger of equals. Both companies stocks are surrendered and new company stock is issued in its place. For example, both Daimler-Benz and Chrysler ceased to exist when the two firms merged, and a new company, DaimlerChrysler, was created. References: 1.www.investopedia.com/university/mergers/ 2. AMINIAN Nathalie, CAMPART Sandy, PFISTER Etienne(2004), Macroeconomic Determinants of Cross-Border Mergers and Acquisitions: European and Asian Evidence retrieved from www.univ-lehavre.fr/actu/itlcsge/aminian.pdf In practice, however, actual mergers of equals dont happen very often. Usually, one company will buy another and, as part of the deals terms, simply allow the acquired firm to proclaim that the action is a merger of equals, even if its technically an acquisition. Being bought out often carries negative connotations, therefore, by describing the deal as a merger, deal makers and top managers try to make the takeover more attractive so as to gain stakeholder confidence. A purchase deal will also be called a merger when both CEOs agree that joining together is in the best interest of both of their companies. But when the deal is unfriendly that is, when the target company does not want to be purchased it is always regarded as an acquisition. Whether a purchase is considered a merger or an acquisition really depends on whether the purchase is friendly or hostile and how it is announced. In other words, the real difference lies in how the purchase is communicated to and received by the target companys board of directors, employees and shareholders. Synergy: Synergy is the magic force that allows for enhanced cost efficiencies of the new business. Synergy takes the form of revenue enhancement and cost savings. By merging, the companies hope to benefit from the following: Staff reductions As every employee knows, mergers tend to mean job losses. Consider all the money saved from reducing the number of staff members from accounting, marketing and other departments. Job cuts will also include the former CEO, who typically leaves with a compensation package. Economies of scale Economies of scale forms an important factor of merger and acquisition. Mergers also translate into improved purchasing power to buy equipment or office supplies when placing larger orders, companies have a greater ability to negotiate prices with their suppliers. Acquiring new technology To stay competitive in the market, companies need to stay on top of technological developments and their business applications. By buying a smaller company with unique technologies, a large company can maintain or develop a competitive edge. References: 1. www.teachmefinance.com/mergers.html 2. Gupta Sayantan , CROSS-BORDER MERGERS AND ACQUISITIONS IN INDIA retrieved from https://ssrn.com/abstract=1461372 Improved market reach and industry visibility Companies buy companies to reach new markets and grow revenues and earnings. A merge may expand two companies marketing and distribution, giving them new sales opportunities. A merger can also improve a companys ability to attract new investments. The above are the basic motives for mergers. Achieving synergy on paper is easier said than trying to achieve it on real time. Sure, there ought to be economies of scale when two businesses are combined, but sometimes a merger does just the opposite. In many cases, one and one add up to less than two. Sadly, synergy opportunities may exist only in the minds of the corporate leaders and the deal makers. Where there is no value to be created, the CEO and investment bankers who have much to gain from a successful MA deal will try to create an image of enhanced value. The market, however, eventually sees through this and penalizes the company by assigning it a discounted share price. Varieties of Mergers: From the perspective of business structures, there is a whole host of different mergers. Here are a few types, distinguished by the relationship between the two companies that are merging: Horizontal merger Two companies that are in direct competition and share the same product lines and markets. Vertical merger A customer and company or a supplier and company. Think of a cone supplier merging with an ice cream maker. Market-extension merger Two companies that sell the same products in different markets. Product-extension merger Two companies selling different but related products in the same market. Conglomeration Two companies that have no common business areas. There are two types of mergers that are distinguished by how the merger is financed. Each has certain implications for the companies involved and for investors: Purchase Mergers This kind of merger occurs when one company purchases another. The purchase is made with cash or through the issue of some kind of debt instrument; the sale is taxable. Acquiring companies often prefer this type of merger References: 1. www.teachmefinance.com/mergers.html 2. Gupta Sayantan , CROSS-BORDER MERGERS AND ACQUISITIONS IN INDIA retrieved from https://ssrn.com/abstract=1461372 because it can provide them with a tax benefit. Acquired assets can be written-up to the actual purchase price, and the difference between the book value and the purchase price of the assets can depreciate annually, reducing taxes payable by the acquiring company. Consolidation Mergers With this merger, a brand new company is formed and both companies are bought and combined under the new entity. The tax terms are the same as those of a purchase merger. 1.2 CROSS BORDER MERGERS Over the past several years, the mergers-and-acquisitions market in India has been very active. In particular, the percentage of cross-border transactions has risen significantly. Cross-border deals have taken the form of both inbound and outbound transactions. The growth in inbound transactions can be attributed to the growing interest of foreign companies in making acquisitions in Indias information-technology and telecom sectors. It has been observed that overseas companies find it far more economical to acquire existing setups rather than opt for organic growth. On the other hand, outbound transactions, too, have increased significantly, with manufacturing companies acquiring entities overseas. It is evident that the appetite of Indian companies for making global acquisitions has grown bigger with time. The Indian economy grew by 9.2% in 2006, but MA deal volumes grew much faster, up 54% to $28.2 billion in 2006. The beginning of 2007 saw the signing of the largest inbound deal in Indias history, Vodafones $11.1 billion acquisition of a controlling interest in Hutchison Essar, Indias fourth-largest mobile phone company, while Tata Steels $13.2 billion dollar acquisition of the European steelmaker, Corus, which closed in early January 2007, headlined a frenzy of acquisitions of foreign companies by Indian corporate enterprises in the past year. From senior politicians to ordinary citizens, Indians have joined the business community in celebrating the recent MA boom, confident that it is yet another indicator of Indias recent and rapid economic ascent. Even the wholly European takeover of Arcelor by Mittal Steel. Every merger or acquisition involves one or more methods of obtaining control of a public or private company, and the legal aspects . References Bedi Singh Harpreet , MERGER ACQUISITION IN INDIA: An Analytical Study retrieved from papers.ssrn.com/sol3/papers.cfm?abstract_id=1618272 of these transactions include issues relating to due-diligence review, defining the parties contractual obligations, structuring exit options, and the like In India, the relevant laws that may be implicated in a cross border merger or acquisition include the company law, the income tax law, the stamp duty act, the foreign exchange laws, competition laws, and securities regulations, among others. Mergers and acquisitions are used as a means to achieve crucial growth and are becoming more and more accepted as a tool for implementing business strategy, whether they involve Indian companies wanting to expand or foreign companies wishing to acquire market share in India. Some of the other motivating factors behind mergers and acquisitions are the desire to acquire a competency or capability, to enter into new markets or product segments, to enter into the Indian market generally, to gain access to funding resources, and to obtain tax benefits. 1.3 APPLICABLE INDIAN LAWS 1.3.1 The Companies Act, 1956 The Companies Act, 1956 (the Companies Act), sets forth provisions relating to mergers and acquisitions. It also covers related issues, such as reorganizations, compromises and arrangements with creditors, and also becomes relevant while structuring an investment in a private-equity transaction (including matters relating to the type of shares and return available). Any number of the Companies Acts provisions may affect a particular merger or acquisition. If the Indian company is incorporated as a public limited company under the provisions of the Companies Act and the Indian company proposes to acquire the shares of the foreign company by issuing its shares as consideration to the shareholders of the foreign company, then the shareholders of the Indian company will be required to pass a special resolution under the provisions of Section 81(1A) of the Companies Act permitting the issue of shares to the shareholders of the foreign company. As to the approval of the shareholders under Section 372-A of the Companies Act, if the investment by the Indian company in the foreign company exceeds sixty percent (60%) of the paid-up share capital and free reserves of the Indian company or one hundred per cent (100%) of the free reserves of the Indian company, whichever is more, then the Indian company is required to obtain the prior approval of the shareholders vide a special resolution. References: 1) Lee, Ashley (2012), Indian regulation: what to watch out for retrieved from https://search.proquest.com/docview/1027723044?accountid=38885 1.3.2 The Competition Act, 2002 In pursuance to the policy of liberalisation and globalisation, India resorted to aggressive practices in the commercial world. The Monopolies and Restrictive Trade Practice Act, 1969 (the MRTP Act), had become obsolete in certain respects in light of international economic developments relating to competition laws, and there was a need for India to shift its focus from curbing monopolies to promoting competition. Therefore, the Government of India, passed the Competition Act, 2002 which seeks to ensure fair competition in India by prohibiting trade practices that cause an adverse effect on competition in markets within India. The Competition Act provides for the establishment of a quasi-judicial body called the Competition Commission of India (the CCI) which is also empowered to undertake measures for the promotion of competition advocacy, creating awareness and offering training about competition issues. Main provisions of the Act concerning mergers and acquisitions (MA) The provisions can be bifurcated in two segments, namely (i) Filing of notice in the prescribed form disclosing details along with requisite fee; and (ii) Examination of notice and other details by CCI for forming an opinion to take decision to see whether there is absence or existence or likely existence of Appreciable Adverse effect on Competition (AAEC) as a result of combination in the relevant market, in India. If, on reaching the conclusion, CCI prima facie, forms an opinion that there are no signs of competition, it shall accord approval and if his opinion is otherwise, he will proceed with an enquiry to reach the conclusion whether to (a) allow; (b) allow with modification or (c) block the combination. When CCI is of the opinion that there are competition concerns and the same can be eliminated by carrying out modifications in the scheme of combination and the parties remove the concerns, the CCI may approve the Mergers and Acquisitions (MA). Combinations have wide canvas as the acquisition of shares, or voting rights or assets by a person or enterprise of another enterprise the acquisition of control by an enterprise of another engaged in identical business; or a merger/ amalgamation between or amongst enterprises falls within its ambit. However, only those combinations whose total value of assets or the turnover of combining partners exceeds References: Singh Pratap Ravi (2010), IMPLICATIONS OF CROSS BORDER MERGERS UNDER INDIAN COMPETITION LAW A COMPARATIVE ANALYSIS WITH US EC JURISDICTIONS retrieved from www.cci.gov.in/images/media/ResearchReports/RavPratapSingh.pdf threshold limit prescribed are only regulated by the Act. Such thresholds limits are based on: Operations of combining parties in India; Operations in India or outside; Parties belonging to group or Otherwise The threshold limits as shown in tabular form: Operations Non Group Group In India Total value of assets of more than Rs 1,000 crore or turnover more than Rs. 3,000 crore Total value of assets of more than Rs. 4,000 crores or turnover more than Rs. 12,000 crores. In India or Outside India (in aggregate) Aggregate value of assets more than $500 mn. (including at least in India Rs. 500 crores) or turnover more than $1500 mn (including at least turnover of Rs. 1,500 crores in India) Aggregate value of assets of more than $2bn. (including at least assets of Rs. 500 crores in India) or turnover of $6 bn (including Rs. 1500 crores turnover in India) The value of assets to be determined by taking the book value of the assets shown, in the audited books of account of the enterprise, in the financial year immediately preceding the financial year in which the proposal for merger falls, as reduced by depreciation, and value of assets shall include the brand value, value of goodwill, or value of copyright, patent, design or lay-out design etc. Therefore, if the values of above have not been given effect to, recasting of the value of assets will be done. Similarly, the value of sales of goods/services shall also be given effect while computing the turnover amount. The limit prescribed for such values are higher in India than in US or UK. References: Singh Pratap Ravi (2010), IMPLICATIONS OF CROSS BORDER MERGERS UNDER INDIAN COMPETITION LAW A COMPARATIVE ANALYSIS WITH US EC JURISDICTIONS retrieved from www.cci.gov.in/images/media/ResearchReports/RavPratapSingh.pdf Share subscription or financing facilities have been exempted from combination provisions. And, there seems to be justification for such exemption, for the reason that such investment, Generally, neither aim to acquire market power nor to influence the marketing decisions of the target company. However, investments in situations are under obligations to make all disclosure to CCI within seven days of any such acquisition in a manner prescribed by the CCI. For disclosure purposes, notice is required to be given by the concerned enterprise to the CCI along with prescribed fee within 30 days from the date of either approval of the Board of directors (in case of merger) or execution of agreement for merger. In case of acquisition, the duty to give notice lies with the acquirer and for mergers and acquisition, the duty to give notice devolves on the shoulders of both the parties together. Penalty for failure to give notice is 1% of the total turnover/assets (involved in combination), whichever is higher. CCI has the power to initiate enquiry into the combination upon its own knowledge or information. However, it cannot initiate any enquiry after expiry of one year from the date on which such combination has taken place. 1.3.3. The Tax Laws As important corporate activities, mergers and acquisitions are also governed and regulated by provisions of the Income Tax Act, 1961 (the IT Act). The IT Act provides that the accumulated losses and unabsorbed depreciation of an amalgamating company (i.e., a company that does not survive a merger) shall be allowed in the assessment of the amalgamated company (i.e., the company that survives a merger), provided, inter alia, that the amalgamating company owned an industrial undertaking, a hotel, or a ship; the amalgamated company holds at least three-fourths of the book value of the fixed assets of the amalgamating company for a minimum, continuous period of five years after the date of amalgamation; and the amalgamated company continues the business of the amalgamating company for a minimum period of five years. Other incentives, like the set-off of depreciation and the treatment of expenditures for scientific research, the acquisition of patent rights or copyright, and expenditures for know-how, as well as the set-off of bad debts, are also envisaged in the IT Act for amalgamated and amalgamating companies. References: Krishnakumar Dipali, A Phase Wise Study of Cross Border Acquisitions by Firms in Emerging Markets- Evidence from India retrieved from www.siu.edu.in/Research/pdf/Dipali_KrishnakumarFM.pdf 1.3.4. The Indian Stamp Act, 1899 The Indian Stamp Act, 1899, provides for the levy of a stamp duty on the execution of an instrument. The stamp duty is applicable to an amalgamation (i.e., a merger) and to an acquisition, whether an asset or stock acquisition. Under the Indian Stamp Act, 1899, an instrument is defined to mean every document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded. The applicability of the Indian Stamp Act to a stock acquisition depends on the form of theshares. If the shares exist in a physical form, the transfer of such shares is subject to a stamp duty at the prevailing rates. However, if the shares exist in a dematerialized form, no stamp duty is applicable for any transfer, thereof since such transfer is in the electronic form and does not require execution of any share transfer deeds. Section 108 of the Companies Act provides that there can be no registration of a transfer of shares in physical form without product ion of the certificate or allotment letter. Further, every instrument of transfer has to be duly stamped by an authorized person and executed by or on behalf of the transferor as well as the transferee. However, the Depository Act, 1996, provides that the formalities prescribed by Section 108 do not apply to any transfer of dematerialized shares between a transferor and transferee, both of whom are entered as beneficial owners in the records of a depository. 1.3.5. Foreign Exchange Laws Under Regulation 7 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India ) Regulations, 200016 (the FEMA regulations), once a scheme of merger , demerger or amalgamation has been approved by the court, the transferee company (whether the survivor or a new company) is permitted to issue shares to the shareholders of the transferor company who are persons resident outside India, subject to the condition that the percentage of non-resident holdings in the company does not exceed the limits for which approval has been granted by the Reserve Bank of India (RBI) or the prescribed sectoral ceiling under the foreign direct investment (FDI) policy set under the FEMA regulations. If the new share allotment exceeds such limits, the company will have to obtain the prior approval of the Foreign Investment Promotion Board (FIPB) and the RBI before issuing shares to the non-residents. If the transferee company is engaged in a line of activity in which no foreign investment is permitted under Indias FDI policy, then shares cannot be issued to the non-residents. References: Krishnakumar Dipali, A Phase Wise Study of Cross Border Acquisitions by Firms in Emerging Markets- Evidence from India retrieved from www.siu.edu.in/Research/pdf/Dipali_KrishnakumarFM.pdf 1.3.6. Securities Laws of India In India, takeovers and acquisitions are governed by SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997,18 popularly known as the Takeover Code. These regulations seek to regulate the whole process of acquisition and takeovers, based on principles of transparency, fairness and equal opportunity for all. The Takeover Code lays down the procedures governing any attempted takeover of a company whose shares are listed on one or more recognized stock exchanges in India. The important aspect of the Takeover Code is that any acquirer of more than 5%, 10%, 14%, 54% or 74% of the shares or voting rights in a company has to disclose, at every stage, the aggregate of his or her shareholding or voting rights. The disclosure must be made to the company and to the stock exchanges where shares of the target company are listed. There are various other, continual disclosure obligations; for example, the acquirer also has to disclose to the company and the relevant stock exchanges any purchase aggregating two percent or more of the share capital of the target company within two days of such purchase and must also disclose what his or her aggre gate shareholding will be after the acquisition. A failure to make such disclosure will incur a penalty of Rs. 250 million or three times the amount of profits resulting from such failure, whichever is greater. Before acquiring shares or voting rights that (together with the shares or voting rights held by persons acting in concert with the acquirer) would entitle the acquirer to exercise 15% or more of the voting rights of a company, the acquirer must make a public announcement that he or she will acquire, at a minimum, an additional 20% of the equity shares of the company. If the Indian company that is issuing its shares to the shareholders of the foreign company as consideration for acquiring shares of the foreign company is listed on any stock exchange in India, then it will be required to comply with the guidelines for preferential allotment under the SEBI (Disclosure and Investor Protection) Guidelines, 2000 (the SEBI DIP Guidelines) in addition to the provisions of Section 81(1A) of the Companies Act. Some of the relevant provisions of the SEBI DIP Guidelines have been highlighted herein below: 1. Pricing: The shares issued on a preferential basis have to be made at a price that is not less than the higher of either (a) the average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the References: 1.www.taxmann.com/TaxmannFlashes/flashart9-2-10_12.htm 2. www.icai.org/resource_file/8834ICAI%20P.ppt six months preceding the relevant date or (b) the average of the weekly high and low of the closing prices of the related shares quoted on a stock exchange during the two weeks preceding the relevant date. 2. Currency of the resolution: Any allotment pursuant to a resolution permitting the issue of shares on a preferential basis has to be completed within a period of three months from the date on which the resolution is passed by the shareholders23 failing which a fresh approval will have to be sought from the shareholders. However it is possible to make an application to the SEBI requesting for the extension of the validity of the resolution. The extension is granted on a case by case basis. This means that the entire transaction has to be completed within three months of the shareholders passing the resolution under Section 81(1A) of the Companies Act. 1.4 OVERVIEW OF THE STUDY Mergers and acquisitions have become the most frequently used methods of growth for companies in the twenty first century. They present a company with a potentially larger market share and open it up to a more diversified market. The study investigated the current trends in cross border mergers and acquisition in India. The study is focussed on the impact of cross border mergers and acquisition to Indian GDP and the impact of Laws related to the cross border MA that exists in India. The research is based on secondary data collected from recognized sources. Initially 12 factors which effect Indian GDP is taken and then the Impact of Mergers and acquisition is seen and then from that the relation between cross border MA and Laws pertaining are analysed. 1.5 NEED OF THE STUDY We have seen many mergers that took place in India in recent past and increase in transaction pertaining to it. There were around 800 mergers and acquisition that happened in India in 2011. This impacts the GDP of our country. There are many laws pertaining to restriction on cross border MA and its consequences on Indian GDP. This study tries to analyse the impact of it on Indian GDP statistically. References: 1.www.taxmann.com/TaxmannFlashes/flashart9-2-10_12.htm 2. www.icai.org/resource_file/8834ICAI%20P.ppt CHAPTER 2 REVIEW OF LITERATURE 2.1 IMPORTANCE OF REVIEW OF RELATED LITERATURE The literature review: Describes how the proposed research is related to prior research in statistics. Shows the originality and relevance of research problem. Specially, the research is different from other statisticians. Find gaps (and possibly errors) in published researches. Will justice the proposed methodology. Demonstrates preparedness to complete the research. Generation new original ideas. 2.2 FINDINGS FROM THE LITERATURES Chatterjee, S., (1986) researched three types of possible synergies that could be achieved by acquisitions. cost-of-capital related, which results in financial synergy, cost-of-production related, which results in operational synergy, and price-related, which results in collusive synergy. Melcher, Gary; Karamon, Martin (1999) US Adapts to ease MA boom: Changes in US tax law over the past 10 years are discussed. US tax law has evolved significantly over the last 10 years in an effort to keep pace with economic globalization and an unprecedented increase in mergers and acquisitions. Changes in the law relating to MA include simplification measures, clarification of guidelines, and the disallowance of benefits that accrue from the exploitation of perceived tax shelters and the interplay among various tax regimes. DSouza-Monie, Deanne; Farias, Sandeep (2001) India: Legal and tax issues in cross border MAs: Globalization has forced Indian companies to concentrate on niche areas and enhance their inherent strengths through domestic and cross border mergers and acquisitions. Indian companies have also realized that mere organic growth is not enough to propel a company towards a fast track growth program. In keeping with international trends, Indian corporations are realizing that synergy of business operations, employee related issues, cultural issues and finally legal issues form the crux of any MA activity. The paper seeks to encapsulate various legal, regulatory and tax issues relevant to a MA transaction in India. Giovanni, J (2005) An econometric gravity model using panel data was used to identify macroeconomic factors that contribute to cross border acquisitions and flow of capital between various countries. The study was conducted on cross border acquisitions during the period 1990 to 1999. The primary hypothesis in this study was that the size of financial markets, as measured by the stock market capitalization to GDP ratio contributed positively to cross border acquisitions. Other variables in the study were income level, diplomatic relationships between countries, size, distance, information, a common language, exchange rate, tax rates in the target country, tax treaties, trade agreements, goods trade, and wage differentials Kumar N (2007) researched a panel data set of 4271 Indian firms in manufacturing industry for the period 1989 to 2001. The variables determining the probability of acquisitions used were age of the firm, total sales, total RD expenditure as a percentage of total sales. Royalties and professional fees remitted abroad, import of capital goods, advertising expenses, PBT to Net Worth, exports as a percentage of sales, Dummy for majority foreign owned form (25% or more), dummy for liberalization and sector dummy. The results indicated that firm age, cost effectiveness, export orientation and liberalization have a positive impact. The study researched outward FDI from India, not specific to Acquisitions. Niranjan Raj (2007) Legal Impediments to Merging Indian and Foreign Companies: Sections 391 to 394 of the Companies Act, 1956 (the Act), deal with mergers of companies 1 and provide a complete code for executing a merger scheme. After a merger scheme is proposed, the high court requires a meeting of the concerned classes of creditors, shareholders and members to be held. If in such meeting the merger scheme is approved by at least three-quarters of the concerned classes, the high court grants its approval to the merger scheme. The Act only partially facilitates cross-border mergers, i.e., it only permit a foreign company to merge into an Indian company. A restrictive clause, which exists in the form of section 394(4) (b) of the Act, defines the term transferee company as not including any company other than a company within the meaning of the Act. Section 3 defines the term company as being a company which has been formed and registered under the Act. Siddiqi, Moin (2007) Wooing foreign investors: Challenges and opportunities: The 95% increase from $22,975m to $44,894m, according to the World Investment Report 2006 issued by the United Nations Conference on Trade and Development (Unctad) was due to several factors, including major greenfield investments in mainly energy-related manufacturing industries, cross-border mergers and acquisition (MA) deals, thanks to vibrant local economies and higher oil prices. Unctad noted: Continued efforts of countries in the region to diversify their economies and promote FDI further through liberalisation and deregulation of non-oil industries, together with booming real estate and financial markets, played a vital role in spurring inward FDI flows to these industries. Given the regions significant natural resources, sophisticated infrastructure (notably in the Gulf), ongoing economic reforms and improving business environment, most countries hold the potential to receive more FDI inflows on pa r with leading emerging-markets like Brazil, India and Malaysia. Bakunina, Alina (2008) The magnitude of Indias outward investment, particularly overseas acquisitions, has signalled a new stage in the countrys economic transformation. In 2007, its gross domestic product growth rate reached 9.4%, year-on-year, and GDP crossed the $1 trillion threshold, making it the 12th largest economy in the world. The key motivation behind overseas acquisitions by Indian companies is to find new markets to sustain top-line growth or to strengthen business value proposition. Apart from the internal motivations of Indian companies to pursue overseas deals, there were also external forces at play that propelled the sharp acceleration in outbound activity. Some of the key external forces or drivers of cross border acquisitions were easy funding and fewer regulatory restrictions. The intensity and success of cross border MA activity for India Inc. will depend on a consistently high economic growth, sound reforms in infrastructure, taxation and investment regulation, as well as its stock market valuations. Kalghatgi jayant (2012), Mergers and acquisitions in Indian information technology industry and its impact on Shareholders wealth: Numerous academic studies are available on merger announcements and their impact on market valuation of equity or shareholders wealth, but there is hardly any documented evidence for Indian Information Technology Industry. In this research on Mergers and Acquisitions in Indian Information Technology Industry and its Impact on Shareholders Wealth, an attempt is made to know the wealth effects of mergers and acquisitions in the Indian Information Technology Industry during the period 2008-2010. For this, an event study analysis has been conducted from the point of view of shareholders of the acquiring companies to ascertain whether shareholders of acquiring companies have been benefited or not. The analysis reveals that the shareholders of the acquiring firms did not gain significant abnormal returns and the mergers and acquisitions did not have any impact on the shareholders wealth. The analysis of the individual deals also reveals that no deal has benefited their respective shareholders. Kumar, N. (2009) in a case study on Hindalco has reported how Hindalco was able to grow revenues by 30 times in seven years, from $500 million to $15 billion by following a strategy of making several smaller acquisitions before the Novelis acquisition in 2007. He has suggested that with each acquisition Hindalco learnt new skills and techniques enabling it to make an acquisition of Novelis which was more than twice its size. Gubbi, Alukh, Ray, Sarkar and Chitoor (2010) used the Economic Freedom Index of the target country as an independent variable to determine the abnormal returns. The Economic freedom index is constructed by the heritage foundation in collaboration with the wall street journal. It publishes an overall index of economic freedom which is based on 10 components including business freedom, trade freedom, monetary freedom, freedom from corruption. These indexes are proposed to be used in our study to identify the probability of a firm carrying out an acquisition both for the acquirer and also for the target. Huyghebaert Luypaert (2010) studied the antecedents of acquisitions for Belgian firms including firm characteristics, industry and financial market variables. They study characteristics that prompt firms to undertake acquisitions measured by variables measuring managerial motives and governance, market power, concentration, financial market conditions. The study by Huyghebaert Luypaert (2010) is very relevant for studying acquisitions by Indian Cross-border acquisitions firms as this study measures factors such as competition, ownership concentration, deregulation. Hyun, H., Kim, H. (2010) researched a large panel dataset covering 101countries for the period 1989-2005 to identify the country characteristics in bilateral cross-border MA flows again using a gravity model researched the impact of deepening of financial markets and institutional quality. Here again the Size of the financial markets of the acquiring company as defined by the market capitalization to GDP ratio has been found to be a significant factor contributing to cross border acquisitions. Wasim-ul-Rehman; Humaire Shabir; Parveen, Sajida; Tahira Iram (2010) examined an empirical relation between inward foreign direct investments and (GDP) of Pakistan. The magnitude and relationship of Inward FDI on GDP was determined by using a time series data of three decades from 1976 to 2005. We found that Inward FDI has significant and positive effect on economic performance (GDP) of Pakistan in different perspectives like technological improvements, better methods of production, employment opportunities and capital accumulations. All kind of investment made by certain parties to control the resources in other countries may be referred as the FDI. The foremost purpose of this study was to explore the most important macroeconomic variable foreign direct investment, its fluctuations during the three decades, and its impact on economic performance (GDP) of Pakistan. The current study intends to find out the position of FDI in Pakistan and to determine the role of inward FDI in the ov erall growth of Pakistan. This study is conducted on time series data of three decades (1976 to 2005) which is taken from a reliable resource WDI (World Development Indicators 2007). They applied the linear regression model to determine the whether there is a significant relation between inward foreign direct investment and Gross Domestic Production of Pakistan. The relation of dependent and independent variable is measured using the software E-Views. Erel, Isi Liao, Rose C Weisbach, Michael S (2012) analysed a sample of 56,978 cross-border mergers between 1990 and 2007. They found that geography, the quality of accounting disclosure, and bilateral trade increase the likelihood of mergers between two countries. Valuation appears to play a role in motivating mergers: firms in countries whose stock market has increased in value, whose currency has recently appreciated, and that have a relatively high market-to-book value tend to be purchasers, while firms from weaker-performing economies tend to be targets. Peng Cheng Zhu and Vijay Jog (2012) Using a large sample of partial cross-border mergers and acquisitions from emerging countries, they have shown that these acquisitions significantly reduce the risk of the target firms and that the risk reduction is directly related to the changes in the international shareholder base and the strength of the investor right protection of the acquirer. They also found that these acquisitions are value creating because we see improvements in both the short-term and long-term risk-adjusted stock performance in target firms during the post-acquisition period. 2.3 RESEARCH GAP There are many researches done on the micro variables that effects the mergers and borders and. There are independent researches on the factors affecting GDP but not in relation to MA. Other researches have taken factors like EPS,Sales etc. i.e. financial variables which effects an MA deals but not a study which comprehensively deals with the macro variables. There are theoretical researches on the impact of laws relating to cross border MA but this study analyse the Impact of laws in support with data and the implications of laws on Cross border MA. CHAPTER 3 RESEARCH METHODOLOGY 3.1 STATEMENT OF THE PROBLEM There had been numerous mergers and acquisition in recent past. There are various reasons for this type of inorganic growth. As per studies around 70% of the mergers had failed in India, this affects the GDP of our country hence this study tries to statically explain the impact of mergers on the Indian GDP. 3.2 OBJECTIVES OF THE STUDY To understand the current trends in mergers and acquisition in India. To find the impact of mergers on Indian GDP. Impact of law on cross border mergers that prevails in India. 3.3 OPERATIONAL DEFINITION Exchange rate- It is the rate at which one currency can be exchanged for another currency. It effects BOP statement and in turn effects the GDP. GDP: Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP per capita is often considered an indicator of a countrys standard of living Export- The term is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an exporter who is based in the country of export. Import- The term import is derived from the conceptual meaning as the goods and services into the port of a country. The buyer of such goods and services is referred to an importer who is based in the country of import Repo rate- The discount rate at which a central bank repurchases government securities from the commercial banks References: 1.https://www.businessdictionary.com/definition/repo-rate.html#ixzz2HVxD5eyY 2. https://www.investopedia.com/terms/i/import.asp Inflation rate- he rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum. FII- An investor or investment fund  that  is from or registered in a country outside of the one in which it is currently  investing. Institutional investors  include hedge funds, insurance companies, pension funds and mutual funds. FDI- Foreign direct investment (FDI) is direct investment into production or business in a country by a company in another country, either by buying a company in the target country or by expanding operations of an existing business in that country. MA deal value in India- Total value of deals in an year that has taken place in India is taken on an yearly basis Fiscal deficit- When a governments budgeted expenditures exceed the revenues collected through taxes, fees and other income sources, it operates a fiscal deficit Sensex- The BSE SENSEX (Bombay Stock Exchange Sensitive Index), also called the BSE 30 (BOMBAY STOCK EXCHANGE)or simply the SENSEX, is a free-float market capitalization-weighted stock market index of 30 well-established and financially sound companies listed on Bombay Stock Exchange (BSE). The 30 component companies which are some of the largest and most actively traded stocks, are representative of various industrial sectors of the Indian economy. Crude oil prices- Indias 70% of the Imports is of oil hence International oil prices effects the GDP 3.4 VARIABLES OF THE STUDY Exchange rate GDP Export Import Repo rate Inflation rate FII FDI MA deal value in India Fiscal deficit Sensex Crude Oil prices 3.5 HYPOTHESIS A  statistical hypothesis  is an assumption about a population  parameter. This assumption may or may not be true.  Hypothesis testing  refers to the formal procedures used by statisticians to accept or reject statistical hypotheses. There are two types of statistical hypotheses. Null hypothesis. The null hypothesis, denoted by H0, is usually the hypothesis that sample observations result purely from chance.   Alternative hypothesis. The alternative hypothesis, denoted by H1  or Ha, is the hypothesis that sample observations are influenced by some non-random cause. Null Hypothesis: Cross border mergers and acquisition do not have a significant impact on GDP of India Alternative Hypothesis: Cross border mergers and acquisition have a significant impact on GDP of India 3.6 TOOLS USED IN THE STUDY Distributed Lag Model a distributed lag model is a model for time series data in which a regression equation is used to predict current values of a dependent variable based on both the current values of an explanatory variable and the lagged (past period) values of this explanatory variable. For this study following model is derived GDP= C + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1) Sensex + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 2) Exchange Rate + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 3) Repo Rate + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 4) MA deals in India +( ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 5) Inflation + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 6) Fiscal Deficit + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 7) Crude Oil Price + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 8) FDI + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 9) FII + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 10) Export + (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² 11) Import Using SPSS software a multiple regression model has been designed and various factors that affect GDP have been assessed. 3.7 DATA COLLECTION Secondary research: The secondary research will be done on the data collected for 12 years i.e. from 2001-2012 from recognized sources. Following is the basis on which the data will be computed. S.No Particulars Method of computation 1 Exchange rate Daily average 2 Export value Total exports in an year 3 Import value Total imports in an year 4 Repo rate Yearly average 5 Inflation rate Yearly average 6 FII Net investments 7 FDI Net investments 8 MA Deal Total deals in an year 9 Fiscal Deficit Total in an year 10 Sensex Daily high-low average 11 Crude oil prices Average 12 GDP Total in an year 3.8 LIMITATION Availability of data: Data on mergers and acquisition was not available in detail. Qualitative factors: There are other qualitative data that cannot be quantified hence a limitation.