Traffic Camera Lights Should Be Installed Essay Example for Free

Traffic Camera Lights Should Be Installed Essay Red light running is a common problem in roads and intersections. According to the focus report from Texas House Representatives, injuries and fatalities from red light crashes had increased annually from 10,000 in the year 1975 to 24,000 in the year 2001 (Focus Report, p 1). In California, from the report of the National Advisory Board, there is an approximately 200,000 crashes where 150,000 are from injuries and more than 1,100 fatalities in the year 2001. (National Campaign to Stop Red Light, p. 1). In the years 1992 to 2000, the number of road accidents that had caused death at signalized intersections had increased by 19% nationwide where the red light running being the frequent cause. Half of the deaths were innocent pedestrians and occupants in vehicles that had been hit by these red light runners (National Campaign to Stop Red Light, p. 1).. Financially, California Highway Patrol estimates that the red light running fatality had caused $2,600,000 and other accidents costs between $2,000 and $183,000 (National Campaign to Stop Red Light, p. 1). In Texas, accidents are   estimated to be cost at between $1.4 Billion. Medical, Insurance and other related expenses falls at about $3 billion annually. Federal Highway Administration from the US Department of Transportation, red light runnin more than 100,000 crashes and approximately 1,000 deaths annually (Federal Highway Administration, page 1).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In order to address the problem of red light running, authorities had decided to use cameras. Traffic light cameras had been used in the United States in the 90’s. John Quain states that New York had been one of the first areas that had installed camera devices to catch law-breaking individuals (nytimes.com, 2008). Red light Cameras main goal is to make people obey traffic rules and minimize if not eliminate red light runner violators.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are three types of cameras that had been used by the police. These are the film camera, digital camera and video camera (National Campaign to Stop Red Light, p 13). The film camera has a limited amount of images to capture but has the highest image resolution among the other two types. The digital camera captures the picture and directs it to the computer. There is no need to get or retrieved the image from the site because the captured images go straight to the database of the operator. Lastly, video cameras are used to detect the speed and capture the images to detect the violators. The cameras have different features to sense the position of the car. This includes the video motion sensors, laser tracking and the sensors embedded in the road. When the car passes the stop line and the light has turned red, the camera captures a series of pictures of the infraction. This includes the license plate of the violator. From these pictures, the owner of the vehicle is issued a ticket. The ticket and the photographic evidence from the camera is then given to the owner via mail (nytimes.com, 2008). In addition to the mail, according to Seattle Post Intelligence, the owner is tasked to pay the fine in 18 days, if the owner was not the one driving he or she must ask for a hearing or an affidavit. If the driver had signed the affidavit the ticket is nulled. The tickets issued to the owner do not appear in the driving records (seattlepi.com, 2008).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are many benefits in installing the traffic light cameras. First benefit is to the police force. In the article from the National Campaign to Stop Red light runners, it had been stressed that the police force monitors the roads and intersections in order to ensure that there are no violators. If a particular scenario happens, the police is sometimes forced to chase the violator for the traffic ticket. This particular procedure does not only waste the time of the police but it also wastes gasoline. There have also been procedures that had assigned a particular group to monitor the roads. These situations waste time and effort of not only a single policeman but a group of policemen. Since the cameras had been installed, the police had more time to worry about other things aside from monitoring the traffic (National Campaign to Stop Red Light, p 11). In the year 1998, the International Association of Chiefs of Police had supported the red light cameras. The resolution had indicated that red light cameras are there â€Å"for more effective and efficient traffic law, in conjunction with normal enforcement efforts.† (National Campaign to Stop Red Light, p 11).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Second benefit is that the red light cameras had been able to reduce the red light violations by 40% at intersections with cameras and a 50% reduction at intersections without cameras (thenewspaper.com, 2008). The reduction of violations only shows that there the goals of the red light cameras had been met. Third benefit is the financial aspect from the type of crash accidents that had happened. According to the Federal Highway Administration in America, there is an approximate aggregate economic benefit of $39,000 per site per year. The $39,000 benefit came from the minimized right angle crashes and the increase in rear accident crashes. Even though there was an increase in the rear end crashes the economic computation of the crashes had resulted to a positive benefit for society. Another angle of economic benefit is that the camera systems pay for itself because of the red light running fines that has been generated. (Federation Highway Administration, page 84).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another benefit that the red light camera brings is that it had become a deterrent to bring behaviour change to motorists. (National Campaign to Stop Red Light, p 8). The behaviour change does not only include obeying traffic rules, it also includes respect for fellow drivers which had resulted to avoiding crashes, injuries and loss of life. Recent studies show that there have been   25 to 30 percent reduction in intersection injury crashes (National Campaign to Stop Red Light, p 8). In Seattle, the frequency of light running dropped. Studies revealed that there has been a reduction of at least 50 percent. The study shows that the cameras had reduced the frequency of car collisions. Seattle had made a one-year pilot period and the city had issued that there have been 16,539 citations. These citations had resulted to $1.1 million in penalties. More than 70% of the ticketed violators had paid for their fines (seattlepi.com, 2008). In London, red light and speed cameras had shown a reduction of 54% in red light violations. The 11,000 violations that had ben recorded in the last 6 months of the year 2000 had been decreased to 5,000 in the first six months of the year 2001. (Red Light Press Clippings, Page 1). The red light camera had been installed in different areas in the United States and it has also contributed a lot in the reduction of accidents and injuries in the road. Oxnard California had shown that there have been a reduction of injury crashes at intersections with traffic signals by 29 percent since 1997. This does not only include the intersections with camera. Fairfax, Virginia had experience a decline of 44% after a year of camera enforcement. Washington D.C. had shown a reduction of fatalities from16 percent to 2 percent in the first two years of installation. Charlotte, North Carolina had experienced 70 percent in the first year of camera enforcement. New York City, Maryland, and California also had shown a reduction of violations ever since the cameras had been installed. There are many issues that surround the installation of red light cameras. There have been studies that show that the installation of the cameras had resulted to an increase in the rear-end crashes of cars. The issue had been the timing of the yellow light and the fear of the people about the ticketing from the traffic enforcement offices. Another issue is that the enforcers may have adjusted the cameras so that there would be more people who would incur traffic violations to increase the fine collection. Some of the people view the installation of these cameras as an additional tax collection that the government is collecting from the people. The â€Å"Big Brother† issue had also been discussed, several people question their right to privacy. It had been noted that the use of the red light cameras violates the privacy of the people. (US House of Representatives, 2001) There may have been issues that are against the red light cameras however, the proponent of this paper believes that it is better to install traffic cameras in all the intersections. It is more important to be able to care for the safety of the people rather than think about the privacy and costs. Life costs more than anything else and it is the duty of the police to take care of the citizens of the country. People feel safer because they know that it is safe in the streets. Knowing that there are safeguards such as traffic camera lights in the roads helps people think that they are secure. The reduction of the violations of red light running had shown very promising results. It is not only easier for the police force to know the violators but it had also brought about the increase of security in the roads. Since people would not be able to escape their violations, the people are then disciplined and as a such this brings behavioural change from the drivers. Works Cited    Robinson, B.A. , â€Å"Same Sex Marriages (SSM), Civil Unions and Domestic Partnerships†. Religous Tolerance, 30, Texas House of the Representatives. â€Å"Red-Light Cameras in Texas: A Status Reportâ€Å"   Focus Report. May 2001. House Research Organization. 10 February 2008. http://www.hro.house.state.tx.us/focus/redlight79-15.pdf Quain, J. â€Å"Lights, Camera, Traffic Ticket† Technology. 6 January 2008. New York Times. 10 February 2008. http://www.nytimes.com/2008/01/06/automobiles/06LIGHT.html?ex=1357275600en=fedd158c6b011f9bei=5088partner=rssnytemc=rss Federal Highway Administration. â€Å"Safety Evaluation of Red-Light Cameras†. U.S. Department of Transportation. April 2005. Research and Development Technology Turner-Fairbank Highway Research Center. 10 February 2008. http://www.tfhrc.gov/safety/pubs/05048/05048.pdf National Campaign to Stop Red Light Running. â€Å"Stop on Red = Safe on Green†. 2002. National Campaign to Stop Red Light Running 10 February 2008. http://www.stopredlightrunning.com/pdfs/StopOnRedSafeOnGreen.pdf Galloway, Angela. â€Å"More red light cameras comingâ€Å" 2 January 2008. Seattle Post Intelligencer. 10 February 2008. http://seattlepi.nwsource.com/local/345753_redlight03.html BJS. â€Å"Red light cameras can reduce crash-related injuries† 20 April 2005. Science Blog. 10 Februar 2008. http://www.scienceblog.com/cms/node/7612/print Mobilizing the Region. â€Å"Facing Albany Roadblock, NYC must Fake Traffic Safety Program†. 24 November 2001. Tri-State Transportation Campaign. 10 February 2008.   http://www.tstc.org/bulletin/ City of Saskatoon. â€Å"Drive safe. Drive smart. Stop at red lights!â€Å" 2007. City of Saskatoon. 10 Februry 2008. http://saskatoon.ca/org/municipal_engineering/red_light_cameras/index.asp U.S. House of Representatives. â€Å"Red Light Camera Scam†. The Red Light Running Crisis May 2001. TheNewspaper.com 10 February 2007 http://www.thenewspaper.com/rlc/reports/rlcreport6.asp

Do Mergers and Acquisitions Fulfil Desired Objective?

Do Mergers and Acquisitions Fulfil Desired Objective? Do Mergers And Acquisitions Fulfil Their Desired Objective? And How People Are Affected By the Result of These Mergers? Dissertation Table of Contents CHAPTER ONE: INTRODUCTION 1.1 BACKGROUND Restructuring of a firm has become a major area in the financial and economic environment all over the world. A company may grow internally, or externally. The aim of the management is to maximize the profit. Most firms grow through internally which take place when firm’s existing divisions grow through normal capital budgeting activities.(S.Vanitha 2007) The industrial restructuring has raised important issues both for the business and for public moreover merger and acquisitions may be critical to the strong expansion of business firms as they evolve through successive stages of growth and development and most important for new product markets by a firm may require M and As at some stages in the firm’s development . The successful competition in international markets may depend on capabilities obtained in a timely and competent fashion through M As. (M Selvam 2007) Merger and acquisitions continues to experience dramatic growth. Record breaking mega mergers have become popular in the world. In the last ten years and onwards some of the largest mergers and acquisitions took place in Europe. This was underscore by the fact that the largest deal of all time was a hostile acquisition of a German company by a British firm.(Beena P.L 2000) Since the start of twenty first century the nature of merger and acquisition even more common in the economical growth. It becomes even more global especially in Asia, Latin and South America. Over the past quarter of the century we have noticed that merger waves have become longer and more frequent in between shrunken as well when these trends combined with the fact that MA has rapidly spread across the modern world, we see that the field is increasingly becoming as ever more important part of the worlds of corporate finance and corporate strategy. (Canagavally , R.2000) Merger and acquisitions are plays very important part in corporate strategy. They are the interesting and controversial tools if the firm do not want to grow internally by capital investment and it can affect the shareholders wealth of both the firms (Legare.1998). The management of the target companies is worried about their jobs that can be affected; the cost reduction strategies consists of reduction in labour force (Gould, 1998) the strategies at both local and national levels are important and concerned at transactions in their industries. e.g (defence utilities etc.) Customers and suppliers are interested , as they want to know who they will be dealing with in the future (Buono. 2003). All the big deals are therefore reported in the media, receive a large coverage, and get the attention of the public as well. People are very important part of any organization but due to the increasing numbers of mergers between the companies they are largely affected and most of them get caught up in a merger or acquisition-by chance, Many of the people after working four –to five years period are losing their jobs and facing severe reductions in status and responsibility and, in general, being confronted with major questions about their careers, As a result , at times we are unsure whether our own feelings about what is happening to these individuals are biasing our interpretation of what is going on. In this project the writer going to research on mergers between the professional services firms. According to Steven et al (2000) mergers and acquisitions decisions that are undertaken based on financial analysis, influence and legal positions , However , it has been proved by a number of researchers that factors like informal power, low productivity , poor quality , reduced commitment , hidden costs and voluntary turnover prevent the combined banks from reaching expected performance levels (Legare 1998). This is the reason that many companies face difficulties then they pass through their post-integration processes (Buono 2003) According to Catwright Cary (1995) that mergers and acquisitions should be seen like marriages where both parties will is very important for the success of new entity. At the time two different companies decide to come together as a result of MA activity, then the levels of instability in the macro and micro environment of both companies is challenged. So it is therefore been recommended that companies should chose the most appropriate merger and acquisition process and strategy. However Buono (2003) has suggest that each possibility has its own strengths and weaknesses and therefore context of MS and its main objectives play important role. Cartwright and Cooper has pointed out that MA depends upon combination of related functions like integration of people, systems, practices and culture. The critical review of the literature has recommended that most of research has been focused at studying single characteristics of MA in isolation. Moreover the dynamics of MA variables that impact on success and failures ratio has not been undertaken in the literature and there is a gap for research. This study will be focus to explore the major drivers and variables and their effect on the success of merger and acquisitions across industries from a corporate strategic perspective. 1.2 Rationale behind Research: Mergers and acquisitions is one of the common strategies in today’s business world. Gould (1998) has conducted a survey involving 12000 managers from different countries and according to the result of his survey more then 1000 companies were involved in acquisitions or a merger in two years between 1995 and 1997.moreover merger and acquisitions has become the leading strategic options. However, the performance of the combined companies has been lower than expected. According to Buono (2003) the basic drivers of MA only involved in financial, operational and strategic aims and objectives. So therefore my main area of focus of this research is to explore the major drivers and variables and their effect on the success of merger and acquisitions across industries from a corporate strategic perspective. 1.3 Aims and Objectives: The basic aim of this project is to understand whether mergers and acquisitions always fulfil desired objective. The aims specific areas are as follows. To explore the major variables that impact on the success of merger and acquisition different industries from a corporate strategic perspective To explore the corporate strategy in achieving desired results from MA activities To evaluate the impact of the mergers on an employees and examining the programmes for dealing with separation anxiety for employees. 1.4 Dissertation Structure: The official Structure of the dissertations is being applied which is provided by the university and analysis has been done which suit the theme and the objectives of the research. The structure of this report is summarized as follows: Chapter 1 Introduction of the research topic and lays the basis for the rationale of selection of the theme under scrutiny. It introduces the effect of MA on business and effects that they expected. The chapter also summarizes the rationale for selection of topic and states the aim and objectives of this research. Chapter 2 Consists of review of the literature that has been produced in the domain of mergers and acquisitions and their desired effects for companies. It has highlighted some of the highly respected literature in the field of aims and objectives of this research. Chapter 3 Provide the methodology and strategy adopted by the researcher to undertake this research. It points out the strength and weaknesses of using different data collection mechanisms and has shown how they fit in the larger context of aims and objectives of this research. Chapter 4 very important chapter consists of analysis and findings regarding the importance of strategic alignment within a merger or an acquisition activity with the help of a range of case studies. The chapter developed recommendations for companies under the light of macro indicators, theories and qualitative data gathered through this research. Chapter 5 provides a comprehensive conclusion from this research and gives a list of recommendations for companies that can be drawn from this focused research. Chapter 2: Literature Review In this chapter an attempt has been made to briefly review the research already undertaken and methodology employed moreover the study has been produced in the domain of aims and objective of the project and it has been divided into number of different sections so that reader understand with ease. 2.1 Overview: Concept of Merger and Acquisition: Over the last few years different companies have engaged in domestic and international mergers and acquisitions to match the macroeconomic trends operating on a worldwide scale in the market place. Up till now the ultimate success of a company’s global strategy may depend on how well it manages the dangerous human resource â€Å"fit† issue associated with strategic customer cantered decisions and strategies. The literature presents the understanding and resolving interpersonal management issues that result from organization, team, and individual misalignments. An actual merger and acquisition integration project is used to discuss the application of this approach (Thomas L. Legare in his paper â€Å"Understanding and Managing Human Resource Integration Issue†) M A defined by Arnold (2002) as â€Å"combination of two firms of roughly equal size on roughly equal terms and in which the shareholders remain as joint owners† M A activities in late 20th century: In 1960’s Mergers and acquisitions first became an important topic within the organization management meetings. It is usual to consider merger and acquisition in terms of the extent to which the activities of the acquired organization are related to those of the acquirer. The most common classification proposes four main types (Walter 1985; Hovers, 1973; Kitching ,1967). These being: 1- Vertical The process in which two organizations combined within the same industry. 2- Horizontal The process in which two similar organizations combined within the same industry 3- Conglomerate In this process acquired organization is in completely different field of business activity 4 Concentric In this process the acquired organization is in a different but related field in to which the acquiring company merge its business. According to Schweiger and Ivancevice, 1987 mergers and acquisitions can be considered to differ in terms of Motive and transactional type The envisaged degree of integration Common objectives behind M Activity According to Napier (1989), in a review of the literature, draws the distinction between financial or value maximizing motives, and managerial or non value maximizing motives. Mergers known as financial or value maximizing motives when the main objective is to increase the profit and decrease the risk involved in business moreover non value maximizing motives relate to merges which occur primarily for other strategic reasons ( Halpern, 1983). Moreover according to handy (1993) creation of shareholder’s value is the underlying aim behind any MA activity. However , there is a range of strategies involve to improve financial performances and consequently increase shareholder’s value. According to Marks, (1988b). There is lots of risk involved in activity like Mergers and acquisitions involving the collective annual investment of billions of pounds and affecting the working lives of millions of employees. It has been recommended in future that 50 to 80 percent of all mergers are considered to be financially unsuccessful (Marks 1988b), most probably in financial return, represent ‘at best an each way bet’ (Lorenz, 1986) The popularity of Merger and acquisitions is still strong despite of the fact that it has been frequently fail to achieve the financial growth (Hovers 1973 Farrent 1970; Jemison and Sitkin, 1986). Indeed there is lots of evidence that Britain and the USA are currently experiencing an unprecedented wave of merger activity (Morgan, 1988; Hughes, 1989). In the last 10 years , there have been over 23000 registered acquisitions in the USA , and before the end of this decade one in four of the Us workforce will have been affected by merger activity ( Fulmer, 1986) with the approach of 1992 , a similar trend is predicted for Europe. The Merger and acquisition is facilitated by number of factors. Market Conditions Market conditions are changing day by day and in this environment there is a need to consolidate or capture new market so strategic mergers and acquisitions become more attractive and expedient alternative response to the setting up new outlets, and at the same time provide a tool to finish the competition ( Meeks , 1977) Increasing Availability of Capital Mergers and acquisitions activities has been increased because the organization and financial institution may need of capital from outside countries because of low interest rate. More companies for sale. There are lots of companies come in to the market because of number of reasons like successful entrepreneurs of the post war years reach retirement age , because of families issues and there is not natural successor within the family. The Easing of Regulations. According to McManus Hergert, 1988. Gartrell Yantek suggested that acquisition activity is related to political climate in that right of centre administration stimulate activity. The Need to share Risk Mergers and acquisitions is very important if u need to share risk like new product development often results in the formation of joint ventures , mergers and other types of strategic alliance. The existence of complex Indivisible Problems All of these can be considered to be logical economic and marketing factors, which make possible the decisions to acquire, These conditions , particularly the need to share risk and problems solving, have also contributing to the increasing trend towards the formation of joint ventures and Mergers (Harrigan, 1988) (vii) Unrecognized Psychological Motives According to Levinson (1970) suggests one such motive to be fear of risk McManus and Hergest (1988) suggest that the decisions happens when ‘CEO is bored and wants to find a new game to play’ or to create some excitement amongst senior managers (Hunt, 1988) 2.2 Impact of Mergers and Acquisitions Merger and Acquisitions have the prime aim to maximise the firm’s profit and shareholders wealth like any other strategic growth option, but there has been a risk of failure so the debate in the literature among theorists and practitioners as to the real strength of the strategy in creating shareholder’s value worth the risk of failure. The review literature that surrounds different prospects like shareholders, acquirer , targets has been studied on short , medium and long term value creation through the MA activity . The following different categories of studies can be highlighted. Affect of MA Activities on People The Human Side of Mergers and Acquisitions is about to impact that mergers and acquisitions have on people in the workplace: the psychological difficulties that people experience, the culture clashes that can emerge in organizations that can emerge in organizations during the post –merger integration period, and the ways in which these problems can manifest themselves –such as communication breakdowns a â€Å"We-they† mentality between the component organizations in a merger, lowered commitment , drops in productivity , organizational power struggles and office politicking , and loss of key organizational members. We adopt primarily and organization development (OD) perspective on mergers and acquisitions: given the myriad problems (Thomas L Legare) The Existing evidence on the effects of mergers and acquisitions on efficiency or value comes from two basic types of large sample studies: event studies and performance studies Event studies consider the returns to the shareholders of targets and acquirers in the days before and after an acquisition announcement .These studies consistently find that the combined returns to acquirer and target stockholders are unequivocally positive .These positive returns imply that the market anticipates that acquisitions on average will create value. These studies and reactions do not, however, provide insight into the sources of the value changes in mergers or whether the expectations of value changes are ultimately realized. Furthermore, the combined returns cover a broad range of responses from very positive to very negative. Cross sectional analyses of event period returns provide some evidence that the broad range of combined announcement period returns reflects the market’s ability to forecast an acquisitions success. For example both Mitchell and Lehn (1990) and Kaplan and weisbach (1992) find the there is a relation between (1) acquirer and combined returns and (2) the ultimate outcome of the acquisition. Other studies examine a number of different determinants of the cross-sectional variation in returns associated with acquisitions. (see e.g Lang , Stulz, and Walkling 1991 . Maloney , McCormick , and Mitchell 1993; morock, Shliefer , and Vishny 1990)These Cross-Sectional analyses of event –period returns provide some understanding of the nature of the market reaction to acquisition announcements.They do not , however , examine whether the anticipated value creation or improved productivity materializes, Nor do they have a great deal to say about the organizational mechanisms and manage ment practices that drive acquisition success or failure. Studies of post merger performance attempt to measure the longer-term implications of mergers and acquisitions using both accounting and stock return data. Studies of accounting data fail to find consistent evidence of improved performance or productivity gains. (see e.g, Healy , Palepu, and Ruback 1992 and Ravenscraft and Scherer 1987) similarly , studies that focus on acquirers long term stock performance find mixed results abnormally negative stock returns after the acquisition ( agraqwal , Jaffe, and Mandelker 1992), no abnormal returns (franks , Harris , and Titman 1991) and negative abnormal returns only for stock mergers (Mitchell and Stafford 1996) Like the announcement period event studies, longer term performance and event studies document substantial cross sectional variation in performance , but do not study the sources of value changes in mergers and acquisitions. In sum , there are a number of questions that the existing economics and finance literature on mergers and acquisitions leaves unanswered , Existing work provides mixed results on the average impact of mergers and acquisitions More importantly , existing work offers little insight into the determinants of an acquisitions success or failures. Research on the basis of Capital Market Capital market is one of the research category used as central information point. According to Healey (1992), the stock market data reflects the effects of MA as it reflects future profits and dividends expected by the post integration entity moreover these researchers believe that the result has been found swayed by the researcher’s personal orientation an hypothesis. It is been analyse that majority among studies that have been covered lower then desired effects created through analyses based on capital market data. Event Study Methodology According to data et al (1992) have indicated that these studies are based on the hypothesis that markets across the industrialized world are highly well-organized and therefore soon after the MAn announcement moreover it depends on the future financial benefits or losses. The result of such studies have highlighted the majority of MA activities do create affects that can range from significant to normal (Sudarsanam 2003) but the people working along with the field and many other critics have argued that the methodology is only affective for small projects to obtain the desired affects and does not represent long term desired affects in the medium to long term. Short Run Objectives: A large number of organizations plan for financial gains within a short period of time when the merger date is finalized they are looking to achieve this objective, 30% and 10% abnormal returns have been found for the target shareholders Sudarsanam et al (1996) Long Run Objectives According to Agarwar (1992) the organizations long term desired affect through MA activity that has gained an increasing interests among researchers after the data is available for the last wave of MA in the 1990’s. There has been a mixture of results as- 10% abnormal returns over 5 years MA periods; Fama French (1993) showed positive 9% abnormal returns for the acquired and negative -4% abnormal returns for the acquirer; and sudarsanam Mahate 2003 showed a range of negative -18% to positive+1% abnormal returns in MA situation. Although it has been found out that many of these studies have used different models, benchmarks and organizational data, but there is a general consensus that MA abnormal desired affects in the long term. Operational Planning Research: The best way to analyse the affect of MA activity is to study the operational performance of the firms involved. The operational data consists of accounting data like cash flow and profit and loss statement are used by such studies (Healey 1992) Herman and Lowenstein (1988) used these technique on data gathered during 1975 to 1983 and found that no significant improvements in the performance of post MA entities. Healey et al (1992) found a meagre 3% operational performance among companies analyzed. However the same data was later analyzed under improved methods and found no operational performance. The results show large number of failures in creating substantial desired affects through operational analysis. Recent Merger and Acquisitions trends In the above table shows the recent trends in the field, let us being with our full dissertation of the subject of MA. This will be begin with a discussion of the basic terminology used in the field. 2.3 MAJOR STRATEGIC ISSUES: According to Cartwright and Cooper (1995) in order to get the desired objective during the MA activity the internal environment of firms should be synchronized. It can therefore recommend that integration of people, their systems, procedures, practice and organizational culture is extremely important in order to get the desired objective. Mr David (2007) suggest that the internal aspects of firms that are going to merge can be divided into two core competencies that can help to minimize the factors involved the failure of MA strategies. These core competencies lie in the field of corporate strategy which usually lack coordination during MA activities. The main limiting aspects of MA in terms of strategic importance that can play a vital role by using their core competencies have been highlighted as follows Organizational culture The cultural differences is the single largest cause of lack of proposed performance, achieving the desired target and objective and time consuming issues in the running of successful business ( Bijilsma frankema , 2001) according to him culture plays a important part in employees motivation in the development to new business he says that cultural clash is the most dangerous factors when two companies decide to combine moreover the things like styles , values and missions is the part of factor influencing the MA. According to (Covin et al, 1997) the employees required five to seven years after the merger to feel truly incorporated. Due to the multitude of these changes many problems arises like loss of job, also financial debt and fears of jobless.(Mirvis and Marks 1992) moreover he says that after merger the new team is also distressing and anxiety for the people other fear include the loss of effective and close team members, as well as the uncertainty about the new team members and supervisors to be inherited the employees when forced to deal with new team members and managers they may develop fears of taking risks and raising sensitive subject. This may adopt us verses them thinking, where trust for the new team members will be minimal (Mirvis and Marks, 1992).Management facing this kind of behaviour may have to pay the high price of loss of coordination and initiative among the employees of the new business combination. Moreover the issues and disagreement will be more difficult to resolve, so the time after the merger is the most difficult time for the management and new team members to move forward as a whole. Appelbaum etal, (2000) Stress According to (Datta et al , 1992) the process of merger and acquisitions consists of biggest change at the individual and organizational level in the history of organizations because of this the process is stressful. When one culture combines with another the employees feel as through they have lost control over important aspects of their loves, and in an attempt to regain control, they often withdraw. So it creates stress within individual , i.e reduced performance and job satisfaction . ( Berger and Ofec 1996) According to Schweiger Denisi (1991) the employees after the MA go through a time of increased anxiety uncertainty and stress. They are concerned about their new position it will create more stress in them so communication plays the vital role during the merger so that employees know what is going on and how they might be affected during and after the post integration period. Thus it can be suggested that while negotiations have been compared to flirting before marriages , and the closing of the deals to forming a new family , employees reaction can be associated with â€Å"bereavement† (Katinka , 2004) Organizational change and resistance Changes after merger announcement like stress, symptoms, work related factors, health status, and lifestyle. Personal characteristics were composed of age, sex, height, weight, and marital status in both surveys. Moreover stress related symptoms like anxiety, impatience and depression were dichotomized by either having a complaint or not so following a MA , a complex set of organizational , managerial and personal changes or inevitable. Jensen Rubock (1983) claim that in order to cope with the changes and resist with the changes there is a way to select a strategy and a set of specific approaches for implementing an organizational change effort. It is very important for managers to implement changes successfully in order to cope with the changes. The researchers have introduced six different strategies in order resist the changes after the merger and four major reasons why peoples resist changes. Image, Identity and confidence According to (Ravenscraft and Scherer 1988) image , identity and confidence of the human resource may reduced after the combination process it has been send that most of the employees will feel uncertain and will need some relaxation environment . It can be recommended that the peoples effected by this process can prove dangerous for the management they can change the ownership moreover the employees who are affected by the process tend to protect their identity and confidence through tolerance and humble and hence they try to maintain their status and confidence with experience that they are the part of new entity, if the cultural factor is not adequately taken into account at this stage of the merger , there will be so less time to contain it after the merger. Weston et al (2001) discuss the fear and stress associated with a merger. Schwert (1996) argue that when the objectives after the merger are not met , the managing teams of both companies are the employees of the acquired company enter a â€Å"cycle of escalating and distrust†. In other words, managers of the acquiring company press for increased control, while employees of the acquired company resist and demand their autonomy. Others view mergers and acquisitions as power games , which create some excitement fro bored CEOs. Communication Tompkins (1984) defined organizational communication as â€Å"the study of sending and receiving messages that create and maintain a system of deliberately corresponding activities or forces of two or more persons† Organizational communication is the exchange of messages through collective creation maintenance and transformation of organizational meaning. Members develop commonly understood patterns of expectations of organizational action through communication. Moreover communication with the employees is a very important factor throughout the entire MA process and creates a positive effect on employees through the trying time. According to John et al (1999) that communication plays a vital role in the combination of different and various cultures. The cultures can be at conflicting ends and therefore should be understood by the top management during integration period moreover according to Richard et al (1999) the human resource department should plan for the change in organization and they should know before this process that what going to happen with the company when two cultures combine as the result of merger. So in the process of merger only decision is not enough but the proper communication of these decisions among the company is very important moreover management works horizontally and vertically through leadership, control and organization.(Sudarsanam and Mahate, 2003) FLOW OF CASH Despite of the fact that many people loss their job in the process but the same time high rate of voluntary turnover linked with the process moreover it includes substantial outflow of talent and expertise. According to Ravenscraft and scherer, 1988) report executive turnover rates as high as 75% in the first three years of post acquisition period. Unplanned personnel losses are not necessarily confined to the more senior levels of the organization. Typically, acquired or merged organizations experience on overall rate of staff turnover of at lest 30% in the first two years post merger period (Cartwright and Cooper 1995) 2.4 Success and Failures A large number of mergers and acquisitions are unsuccessful .Over the last fifteen years, 23% of all merged firms worldwide reported lower profits than comparable non-merged firms (Gugler et al.(13)) Daimler Chrysler, the effect of the largest industrial merger ever, for example , has only posted low or negative profits since its birth in 1998-including the biggest loss in German business history in 2001. The disappointing results of mergers have been puzzling commentators and academics alike. In the management literature, poor merger performance has often been connected to unsuccessful addition of different corporate cultures. Cultural differences, however, are not enough to explain failures. First, firms seem to be aware of organisational difficulties when taking merger decisions. DaimlerChrysler, for example, anticipated post –merger Challenges. Second, mergers between partners with closer corporate cultures sometimes perform worse ( Morosini et

Quarks :: essays research papers fc

Quarks   Ã‚  Ã‚  Ã‚  Ã‚  Quarks- any group of subatomic particles believed to be among the basic components if matter   Ã‚  Ã‚  Ã‚  Ã‚  Quarks are believed to be the fundamental constituents of matter, and have no apparent structure. They are the particles that make up protons and neutrons, which make up the nucleus of atoms. Also, particles that interact by means of the strong force, the force that holds parts of the nucleus together, are explained in terms of quarks. Other baryons are explained in terms of quarks(1985 Quarks).   Ã‚  Ã‚  Ã‚  Ã‚  Quarks have mass and exhibit spin, the type of intrinsic angular momentum corresponding to rotation around an axis, equal to half the basic quantum mechanical unit of angular momentum, obeying Pauli's exclusion principle. This principle that no two particles having half integral spin can exist in the same quantum state(1985 Quarks).   Ã‚  Ã‚  Ã‚  Ã‚  Quarks always occur in combination with other quarks, they never occur alone. Physicists have attempted to knock a single quark free from a group using a particle accelerator, but have failed. Mesons contain a quark and an antiquark, up, down, and strange, while baryons contain three quarks distinguished by flavours. Each has a charge that is a fraction of that of an electron. Up and down quarks make up protons and neutrons, and can be observed in ordinary matter. Strange quarks can be observed in omega-minus and other short lived subatomic particles which play on part in ordinary matter(1985 Quarks).   Ã‚  Ã‚  Ã‚  Ã‚  The interpretation of quarks as physical entities poses two problems. First, sometimes two or three identical quarks have to be in the same quantum state which, because they have to have half integral spin, violates Pauli's exclusion principal. Second, quarks appear to not be able to be separated from the particles they make up. Although the force holding the quarks together is strong it is improbable that it could withstand bombardment from high energy and neutrinions in a particle accelorator(1985 Quarks).   Ã‚  Ã‚  Ã‚  Ã‚  Quantum chromodynamics(QCD) ascribes colours red, green, and blue to quarks and minus-red, minus-green, and minus-blue to antiquarks. Combinations of quarks must contain equal mixtures of colours so that they cancel each other out. Colour involves the exchange of massless particles, gluons. Gluons transfer the forces which bind quarks together. Quarks change colour as they emit and absorb gluons. The exchange of gluons is what maintains the right quark colour distribution. The forces carried by gluons weaken when they are close together , at a distance of about 10-13 cm, about the diameter of a proton, quarks behave as if they were free. This is called asymptomatic freedom(1985 Quarks).   Ã‚  Ã‚  Ã‚  Ã‚  When one draws the quarks apart the force gets stronger, this is in direct contrast with electromagnetic force which gets weaker with the square of

William Blakes The Tyger Essay -- The Tyger Philosophy Literature Pap

William Blake's The Tyger Terror, in the eighteenth century, was commonly considered the highest manifestation of sublimity. "Indeed," writes Edmund Burke in his Philosophical Enquiry into the Origin of Our Ideas of the Sublime and Beautiful (1757), "terror is in all cases whatsoever, either more openly or latently, the ruling principle of the sublime."(1) In Section VII of his aesthetic treatise, Burke tries to explain why this is so: "Whatever is fitted in any sort to excite the ideas of pain, and danger, that is to say, whatever is in any sort terrible, or is conversant about terrible objects, or operates in a manner analogous to terror, is a source of the sublime; that is, it is productive of the strongest emotion which the mind is capable of feeling" (39). The chief effect of the sublime, according to Burke, is "astonishment"--"that state of the soul, in which all its motions are suspended, with some degree of horror," and in which "the mind is so entirely filled with its object, that it cannot entertain any other" (57). These effects are produced when we contemplate dangerous objects which we know cannot harm us. Burke finds examples of this that immediately bring William Blake's poem "The Tyger" to mind: "We have continually about us animals of a strength that is considerable, but not pernicious. Amongst these we never look for the sublime: it comes upon us in the gloomy forest, and in the howling wilderness, in the form of the lion, the tiger, the panther, or rhinoceros" (66). "The Tyger" is, indeed, a poem that celebrates the effects of that sublimity which Burke calls "the concomitant of terror" (66). In this aspect, the poem is reminiscent of one of Blake's Proverbs of Hell: "The roaring of lions, the howling of ... ...lake, The Marriage of Heaven and Hell, British Literature: 1780-1830, ed. Anne K. Mellor and Richard E. Matlak (Forth Worth: Harcourt Brace, 1996) 289. back (3) William Blake, "The Tyger," British Literature: 1780-1830, ed. Anne K. Mellor and Richard E. Matlak (Fort Worth: Harcourt Brace, 1996) 301. All further quotations from this poem are given parenthetically in the text by line number. back (4) William Blake, "The Little Girl Lost," British Literature: 1780-1830, ed. Anne K. Mellor and Richard E. Matlak (Fort Worth: Harcourt Brace, 1996) 282. back (5) William Blake, "The Lamb," British Literature: 1780-1830, ed. Anne K. Mellor and Richard E. Matlak (Fort Worth: Harcourt Brace, 1996) 278. back (6) William Blake, "The Divine Image," British Literature: 1780-1830, ed. Anne K. Mellor and Richard E. Matlak (Fort Worth: Harcourt Brace, 1996) 280. back

The Influence of Memories on Selfhood Essay -- Memory Psychology

Memories generate a breakdown of an individual’s selfhood. In addition, memories embody unmistakable repercussions on the self. In the book Mind readings an Anthology for Writers by Gary Colombo, there are several essays that reveal how memories evoke individuals to doubt their ideas of selfhood. â€Å"The Inheritance of Tools† by Scott Russell Sanders, Sanders writes concerning his father’s passing and the strategies that he implements to survive his grief. â€Å"The Brown Wasps† by Loren Eiseley, Eiseley demonstrates why individuals conjure up memories in their imagination, his only reliable guide of happiness. Individuals hold fast to memories that take a lifetime to fabricate. â€Å"The Self and Society: Changes, Problems, and Opportunities† by Roy F. Baumeister makes use of many labels to justify selfhood. Baumeister examines the history of selfhood. The essays by Sanders, Eiseley, and Baumeister illustrate that situations shape unpredictable sets of memories that promote anxiety, and characterizes the selfhood. Memories and individual’s selfhood connect the past and present bringing about a paradox inspiring individuals to feel sane or manic. Frequently memories are simply figments of the imagination. In addition, in life, individuals have conflicts of his or her â€Å"inner self† resulting in a collision of the selfhood. Circumstances activate automatic sets of memories amplifying anxiety that distinguishes the selfhood. Sanders’ while grieving, his father’s death, instigates a flood of memories he must handle. Sanders while in the midst of building a wall in his basement hears the news about his father. Sanders recalls hitting his thumb and cursing at the hammer as if it deliberately smashed his thumb. The significance of the hammer and th... ...e, individuals battle their â€Å"inner self†. Memories generate a divide in an individual’s selfhood. Furthermore, memories leave strong impressions on the self. Memories cause individuals to experience reservation of their judgment. These conflicts are life changing or devastating to an individual’s selfhood. Works Cited Baumeister, Roy F. "The Self and Society: Changes, Problems, and Opportunities." Mind Readings an Anthology for Writers. Boston: Bedford/St. Martin's, 2002. 320-36. Print. Colombo, Gary. Mind Readings: an Anthology for Writers. Boston: Bedford/St. Martin's, 2002. Print. Eiseley, Loren. "The Brown Wasp." Mind Readings an Anthology for Writers. Boston: Bedford/St. Martin's, 2002. 150-57. Print. Sanders, Scott R. "The Inheritance of Tools†. Mind Readings: an Anthology for Writers. Boston: Bedford/St. Martin's, 2002. 142-49. Print.

Corrution the cancer of Indian society

The problem In our country is not the lack of knowledge or understanding about corrupt practices but the lack of courage to stand against such practices It Is very easy to target others including politicians but what about common man? WE HAVE to understand that the system is corrupt because we are also corrupt. First, we have to change ourselves then only we can expect change In others. This Is a very old method to point the fingers towards the wrongdoing of others. But no one is ready to check their own character. M really questioning the validity of self- referred right people. Before pointing fingers towards others, including politicians and other government employees, we should Introspect ourselves. I am seeing that everybody is ready to abuse the system but what about ourselves. Are we common people really different from those who are in politics and other sphere of life and running this country? No, that is the truth. We are no more different from those whom we are abusing cont inuously on different forum Including media.We are ready to talk about corruption till the time we want to abuse politics. For me doing anything ring is also a type of corruption and most of us in some way or other are involved in corrupt practices. It is quite possible that most readers will not agree with me on this because they are also in the same boat. Let us see whatever what I am saying is correct or not. We are ready to pay money in the form of bribe to get connections of different types such as gas, water, and electricity – all out of turn.There may be others In the society who are not able to pay such bribes to get such connections out of turn and even some time they have to Walt for longer period of time just because of people like us so called middle class who ant corruption to be eradicated from society. There are others In the middle class – especially small time businessmen like shopkeepers of different types, – and they may be earning more than w hat we are getting in the form of our monthly salary but they are not ready to pay income tax.There will be more than 10 million such shops in our country and most of them are not paying enough taxes as per law. People opposing FED in retail sector are actually supporting such shopkeepers. What is the need in the world for the parties to fight on such important issue of FED because of such tax evaders? They know very well how to evade Income tax and other taxes and they are at the same time running a market of black money. Whereas FED will bring a lot of money to the government in the form different taxes but it will ensure transparency too in the retail segment.So basic question remains are we really Interested to eradicate corruption from our society? If the answer is yes, then we have to start from ourselves rather than ask others to do. First, we have to change and then only we can expect the change in suit. Let us assume one person in each family take a vow to be not corrupt wh atever resistances will be there believe me that more than 50% corruption will eradicate at very such time. Gandhi]' had stressed that there is enough in the world for man's need but hopelessly not adequate for his greed.In India, it is the greed of a very few individuals that has threatened the teeming billion odd population of starvation, environmental degradation, uncontrolled rise in pollution and deteriorating environmental standards. Looking at Ago in the last 60 years, there is a visible difference. Ago through the sass right up to the late sass sustained itself admirably on solar energy. The ignite of labor saw every Goanna earn his bread through the day and sleep peacefully at night. The spring waters were pure, clean and rich in minerals, smoothening, invigorating and refreshing.Food supply may not have been plentiful but was adequate. The helpless and those ‘unfortunates' incapable of labor were looked after by the family, neighbors, friends or the societal form of institutions like the temple and church institutions or the likes of provider. No doubt then that although there was exploitation of the maunders by a handful of bathmats, by and large the incidences of robberies, rapes, murders and crimes were ender control thus affording Goons the tag of a ‘peaceful society'.Goons were appreciated as gentle, hardworking, talented and a faithful workforce. Goanna musicians, cooks, clerks, doctors, administrators, nannies, personal assistants, engineers and scientists became role models in all walks of life and made their mark in politics too. Goons strives hard to ensure the environment remained clean, green and salubrious. Do we have courage to take such a vow? I don't think so. If yes, for which chances are very less, then it will be really good for the country as a whole.

Mining and India Effects Essay

Illegal mining is illegal because in most countries, underground mineral resources belong to the state. Mineral resources can therefore only be operated by a licensed operator along the laws and regulations set by the local government.Most illegal mining takes place in low grade areas or abandoned mining sites. Low productivity and limited production are therefore the illegal mining main characteristics. It is dangerous because illegal mining are in not in the right place to mine because most of the illegal miners are in low grade areas or abandoned mining sites in can cause danger in the illegal miners. Causes: Illegal mining is acknowledged to be one of the major causes for coal fires. Considering, coal tendency to heat when placed in contact with an oxygen source, illegal mining directly contributes to this massive pollution source. Illegal mining can cause lessen of the minerals in soil and when the mining is too much the minerals can lose or disappear. It can cause lack of nutrients in the soil that the illegal miners where mining because they did not know what are the causes can happen. Places where illegal mining occurred: * Zamboanga del Sur * Palawan * india Effects: * Toxic waste can be a very harmful effect of illegal mining. * If the mining sites are near bodies of water chemicals can also poison the water and the fish, it can also destroy beautiful coral reefs. * Fertile land can also be affected, land can become very hard and dry because of the chemicals as well. * Boiling toxic waste can cause burns on people living near the mining sites. The gas can also be very bad to take into your body. * if you build the mines on forest lands, the habitat of countless land species may be destroyed and those species may die. * It can poison the water and kill fishes * It can destroy coral reefs * It can destroy habitat species, and also kill them * It can affect land to become very hard and dry * It can cause bad effects to our body because of gas Solution Proposal: * helping them to know what are the effects that can harm in our environment * the illegal miners are lack of knowledge in what are the effects that can harm in our environment. * We need to help them to know that it can affect the illegal mining in our environment. * reminding them that mining can harm people too * The illegal miners have lack of knowledge that can harm in people too. * We need to advise them that they need to stop because there are some minerals that can harm into their health * Reminding them what are the causes that can happen in their mining site. * We need to remind them that there are many causes that can happen in their mining site or in our environment. * Reminding them that illegal mining can cause danger * Illegal miners are not in the right place to mine, they mine in the abandoned mining site or in a low grade areas. * They did not know what are the danger that they can be interface when they are mining. * Asking them to stop and limit their illegal mining operations. * We need to tell them to or ask them to stop illegal mining because there many effects that can happen in our environment. * We need to tell them that they need to stop because they are not in the right place to mine or they don’t have any permit