DBA Comprehenive Examination Research Paper Example | Topics and Well Written Essays - 11000 words

DBA Comprehenive Examination - Research Paper Example According to Jensen & Ruback (1983) mergers and acquisitions benefit companies as it provides synergy, tax saving, shareholder wealth maximization and signaling. Draper & Paudyal (2008) state mergers and acquisitions have been beneficial to economies as the production achieves higher efficiency and has improved output. The economies achieved the ability to have improved bargaining power with the supplier and customer due to mergers and acquisitions. Mergers provide the companies to get tax savings. Mergers and Acquisitions According to Elebourne & Rambarran (2004), the process of merger refers to the process where one company is merged with another, and acquisition refers to the process when the company acquires another company. The merger process can be horizontal, vertical or conglomerate. As per Stigler (1950), horizontal mergers are achieved by merging the products and services. Horizontal merger is used in the way that the share of the company increases in the market and it was common during the onset of World War I, when the stock market crashed in 1903-1904. Two firms are merged in a vertical manner when they are merged through the value chain. Sudarsanam (2003) defines conglomerate merger as a common M & A method where the companies from different industries come together. All the three types of merger systems require the companies to merge in three ways: 1. The revenues of the companies should be merged to achieve a high revenue generating company. 2. The expenses of the two companies should merge to achieve a low expense operation. 3. The cost of capital of the two companies should be combined which will reduce the overall cost of capital. The cost saving is archived through the removal of repetitive process in the two companies for which the merger is required at various level. Integration can happen in full functional area of the companies; for example - human resource, accounting, information technology, marketing, finance and operations. The new c ompany will be working on best practices of the two companies and certain key factors will be merged together to have a modern age merger and acquisition. Minimal merge will be adopted by personnel and it will involve reducing redundancies. The best ways of mergers are when the two companies come together to exploit the best of other. This method is called positioning and it happens when the two companies position by taking advantage of the trends in the market. Gap filing refers to the condition when the two companies have major weaknesses, which is reduced due to the merger. The company having strength becomes an advantage for the other company and both the companies are benefited. Mergers can happen for business reasons; for example in bargain purchases where the company can be acquired at a low cost and this helps both the companies. Mergers can also provide the method of diversification which is needed for improving the earnings and to achieve higher opportunities and growth in business. The companies can get further growth through mergers and there are certain mergers which can provide short term growth to the company. The acquisition of two companies should be optimistic and bad decisions should be eliminated from the processes of merger and acquisition. Three specific examples of challenges of major challenges faced by the companies during M & A in the last five years are: 1. Merging

Leadership Research Paper Example | Topics and Well Written Essays - 1250 words - 4

Leadership - Research Paper Example When in 1748, and aged 16, Washington enrolled with a surveying party on a mission organized by a land baron known as Lord Fairfax to the Shenandoah Valley. This would see him for the subsequent few years conduct surveys in Virginia as well as present day West Virginia making him gain a lifetime concern in the West. He would later in 1751-1752, for health reasons, make a visit to Barbados, West Indies accompanied by his brother Lawrence just before he died. The following year saw Washington start his career as a major in military when he was appointed by the royal governor to an adjutantship in the militia. The same year, Washington accompanied by a guide, journeyed to Fort Le Boeuf, within Ohio River Valley as an emissary of the governor to deliver to French ruling elite an ultimatum to stop settlement as well as reinforcement in English territory. While on trip, Washington attempted to improve British relations with different Indian tribes. He would in 1754 win the title of lieuten ant colonel then later colonel in the militia. He then guided a force that attempted to challenge French authority over Ohio River Valley, however, he faced defeat at Fort Necessity, PA-an incident that assisted in triggering the Indian and French War(1754-63).Washington ,later in 1754,annoyed by the demotion of his title due to forthcoming coming of British regulars resigned his commission. He would that same year lease Mount Vernon, which he have inherited in 1761(Ellis, 2008). This is just but a brief introduction of what kind of a leader Washington was. Washington would later emerge as one of the most significant leaders in the history of the founding of USA, even to the degree of being referred to as the Founding Father of America. One of the contributory factors that made Washington a great leader was the fact that he worked as well as lived with brilliant thinkers, philosophers,