Analytical Report - Acquisition as a Growth Strategy Essay

Analytical Report - Acquisition as a Growth Strategy - Essay Example Apart from continuous development of products and services, there are several strategies for organisations in order to achieve growth quickly. One such strategy is acquisition strategy which is often considered as the exclusive province of business for large organisations. Growth by using acquisition strategy is quicker and a less risky proposition compared to other strategies such as increasing the market or sales. Moreover, acquisition provides organisations with numerous benefits such as easier funding, complete managerial control and higher economies of scale (Mustafa & Horan, 2010). The advantages of expansion through acquisition is not merely restricted to marketing, but also expanded for attaining several other advantages such as easier finance, lower risk and increased product portfolio. The paper will analyse the acquisition strategy of Virgin Money by using techniques such as SWOT analysis, PESTEL analysis and Ansoff Matrix. Furthermore, the paper will also define the other alternatives which might be pursued by Virgin Money as a growth strategy. The paper will also recommend how Virgin Money can build a sustainable advantage by using the four cornerstones of â€Å"competence based strategic management†. Task1 Critical Analysis of Acquisition Strategy of Virgin Money In November, 2011, Virgin Money had acquired a British bank named Northern Rock which was critically affected by the mortgage crisis. This acquisition would help Virgin Money to expand its business reach in the UK banking market (Anderson, 2011). SWOT Analysis of Acquisition Strategy of Virgin Money Strengths The acquisition of Northern Rock by Virgin Money will provide easy integration of all facilities provided by Northern Rock and will have positive impact on the growth of Virgin Money. The acquisition strategy can ensure Virgin Money to make a strong presence in the banking industry of the UK. Virgin Money has the capability to incorporate acquisition with fewer disturbances an d it will provide great advantage not only to Virgin Money but also to the complete Virgin Group, because the acquisition will help to provide financial support to other Virgin Group businesses. In banking industry, it is significant for a company to constantly improve the distribution of their products. Through acquisition of Northern Rock, Virgin Money can definitely increase and improve services such as internet banking, retail banking and other facilities. Therefore, the acquisition can provide excellent growth prospects for Virgin Money in the banking business of the UK. The other advantage of Virgin Money due to the acquisition of Northern Rock is the increased source of income. Through acquisition, Virgin Money can inevitably acquire the client base of Northern Rock which can provide immediate income from them. Besides, the acquisition will also help to gain experienced employees from Northern Rock, which will make much easier for Virgin Money to implement new strategies whic h can be feasible for

Compare the Maxwell and Pauly articles on Moral Hazard Essay

Compare the Maxwell and Pauly articles on Moral Hazard - Essay Example People buy health insurance to protect themselves from future financial risks. This is the point of Pauly when issue concerning what motivates Americans to buy insurance is taken into consideration. From economic point of view, Pauly has the point and got it right. However, if this would be the case since he also states that â€Å"people contemplating about insurance are not poor or high risk† (2), most, if not all, Americans must be insured. From Gladwell’s article, there is a significant contradiction to Pauly’s point since Americans spend $5,267 per capita on health care every year and even a visit to their dentists seems to be a luxury (Gladwell, 2005). This only depicts the reality that to be insured in the US for health care is a bit expensive for ordinary citizens, which until now many Americans suffered financial bankruptcy due to unpaid amount of bills from received medicare. Gladwell and Pauly would both agree marginal benefits should be tantamount to marginal costs. However, what Pauly fails to consider is the capacity of every Americans to secure health insurance for each of them. The moral hazard that Pauly would want to point out cannot have full realization if in the first place the Americans do not have the capacity to secure health insurance. In other words, based on Gladwell’s article, the prevailing US health care is not even subject to moral hazard. Pauly’s article might be too presumptuous about the health care system situation in the US by not initiating prior consideration of the minor details just as what Gladwell exactly did. In the first place, consumers could not demand for more health care, as they do not even have one in the first place as what Gladwell would want to clearly state. Personally, I do not want to go the doctor when nothing was wrong with me, even though I might have a very generous policy for my health insurance. In this case, the moral

Organizational Effectiveness Amid the Labour Crisis Essay

Organizational Effectiveness Amid the Labour Crisis - Essay Example Professor Peter Cappelli further argued that the problem arises because of the lack of competency to manage the welfare of employees. On the other hand, Blackler and Shimmin (1984) anticipated that the demands for cost savings and improved efficiency will raise many issues of conflict within the organization based on certain events that has been affecting the UK economy. The means to organizational effectiveness were proposed by management theories that were believed to have provided solutions to dilemmas faced by businesses in the past. â€Å"New and theoretical knowledge often becomes part of the repertoire of the science of organisational behaviour, functioning as technologies of regulation which are used to control and discipline employees† (Thompson and McHugh, 2002, p. 297) In addition, these were aimed at discovering the patters to employee behaviour, and the forces that define employee work morale. The scientific management theory concentrated decision making in the ha nds of the employers, while employees were regarded as no more than "manpower—the energy or force required to propel the organizational machine† (Morgan, 1986, p.29). Alternatively, the human relations movement was able to identify other key aspects to employee motivation, and extended the role of the manager. Many changes have occurred since the Industrial Revolution, and while monetary benefits are still the primary objectives in seeking for employment, some tendencies are no longer observed. The assumed patterns of behaviour by employees relevant to their personal and financial interest in the company is hard to prove these days. Current Labour Trends Developing countries are not the only ones to suffer the blows of recession. The United Kingdom, despite favourable performance in the stock market, is also faced with problems associated with the rise in costs of goods and services. The UK per capita income has declined tremendously owing to the trends in the labour ma rket—to include unemployment, underemployment and part-time services. According to the Office for National Statistics (ONS), the unemployment rate increased to 8.1% in 2011, and jobless rate for 16 to 24 year olds totalled to 991,000 in the first quarter (BBC, 2011). Result of the survey by the EEF, a manufacturers’ organization in the UK, showed that the manufacturing sector, which is among the highest provider of jobs, averaged 2.2% in settlements for laid off employees. As a result, the number of people claiming jobseeker’s allowance rose by 19,600 in May, which was twice as expected (Peacock, 2011). The rationale behind the decisions of many companies in the United Kingdom to terminate services of a large portion of their workforce has been defined by economic professionals. The firms are inclined to regulate their internal costs to compensate for the drop in revenues. The government was first to take the move, â€Å"with the vocal support of the bankers wh o caused the recession, by deliberately creating unemployment with public sector cuts†, secretary general of the GMB union, Paul Kenny, said (as cited from Peacock, 2011). Similarly, manufacturers worry about the ever increasing cost of production, and tried to reduce allotment for salaries by retrenchment and insisting overtime on those not removed from the payroll. Others chose to outsource their operations, and resulted in reduced domestic employment. Underemployment is a different issue. Because there is not enough full-time jobs available, underemployed workers were

International financial markets Essay Example | Topics and Well Written Essays - 2000 words - 2

International financial markets - Essay Example Bonds and stocks are types of securities, and they are each related to a different set of circumstances that govern the relationship between investor and investee. Financing through stocks and bonds is a delicate matter for a company because it impacts on the firm’s rate of return as well as financial risk. Financing through equity usually has a higher cost of capital, because equity holders are entitled to a pro-rata share of the profits. Theoretically, therefore, stockholders’ expected returns have no limit. However, since the stockholders are not entitled to any returns if the company incurs losses, then there is no default risk associated with equity. On the other hand, debt capital entails a cost of interest to the borrower-firm. Interest rates associated with long-term debt are lower than the cost of equity to the firm, because debt is contracted at a fixed rate and is therefore limited to that rate, even though the firm earns much higher rates of income. There is a risk, however, associated with the possibility of default. Even if the firm incurs losses, its obligation to pay interest on its debt is fixed, therefore its in ability to meet with interest payments may incur for it costly penalties. The nature of the firm’s business affects the firm’s ideal capital structure – that is, the proportion of the needed capital it may finance through debt and through equity. The following are examples of industries and their average debt and equity ratios. It may be noted that companies in the same business do not necessarily have the same capital structures. For instance, in the consumer non-cyclical industry, Starbucks is financed entirely by equity, while Kellog relies slightly more on debt financing rather than equity. Raising money from the bonds market. Large corporations could raise money through the bonds market. The process involves the underwriting of the bonds float by either one or several

The theme of resistance to social norms Essay Example | Topics and Well Written Essays - 1000 words

The theme of resistance to social norms - Essay Example By examining how she wrote about the theme of female subjugation behind a male-dominated conception, Charlotte Perkins Gilman demonstrated how the non-conforming female character has no choice but to fail. The woman protagonist, who never provides her name, is instructed to remain isolated in an upper room of a remote country house, which she does although reluctantly. As she confides to the reader, she actually felt that another room might be better for her, but this idea was overruled by her solicitous and educated husband and doctor as he continues to put his own desires first. â€Å"I wanted one downstairs that opened on the piazza and had roses all over the window, and such pretty old-fashioned chintz hangings! but John would not hear of it. He said there was only one window and not room for two beds, and no near room for him if he took another.† The room she is placed in is thought to have originally been a nursery, with bars on the windows and old faded yellow wallpaper attached to the walls. This association only serves to highlight her helpless position within the house, particularly as she mentions, even very early in the story, â€Å"He [John] is very careful and lo ving, and hardly lets me stir without special direction. I have a schedule prescription for each hour in the day; he takes all care from me.† Through the course of the story, the woman transforms from an individual who adores the outside and green growing things expressing thoughts and feelings of her own to the horrifying and creeping artificial creation of man as he has shaped her. The idea of the perfect woman is reinforced in The Yellow Wallpaper in the characters of Mary and Jenny, who collectively replace the narrator in her own home, indicating the easy interchangeability of women within this society. â€Å"It is fortunate Mary is so good with the baby† is the only information we’re given of this ideal of

Syllabus Designing - Review of Literature Essay Example for Free

Syllabus Designing Review of Literature Essay English for Specific Purposes (ESP) is often underestimated because of teachers attitudes which are often characterized either by condescension or reluctance. This is manifested in the belief that often prevails among teachers that ESP is for those who cannot teach the real language. A good example of this situation is English in other departments or The Language Unit at university where teaching this component of the students program of studies is generally the responsibility of junior members of staff and where it is a slot-filling subject in the teachers time-tables. This underestimation may be due to the fact many language teachers are not aware of what it means to be an ESP teacher, and what it takes to be successful in this practice. The situation in the Tamil Nadu is even more complicated as there is not even a separation between ESP and English for General Purposes (EGP) when it comes to syllabuses and methodology, and who is better trained to teach what. Needs assessment, which is a major component of ESP, never exists, and, if does, it is never systematic, but rather based on teachers intuitions. Moreover, the methodology adopted in teaching never differs. That is, a teacher would enter a class with the same kind of methodology in mind regardless of the aims of each program. Unfortunately, programs are always put in the same basket and are always simply labelled as programs for Teaching English. As a matter of fact, English is not always just English for there are particularities that ought to be taken into consideration when designing syllabuses and practicing teaching depending on the objectives set for each situation. Definition of ESP (English for Specific Purposes) The term of ESP is generally represented as ‘English for Specific Purposes’, which emphasizes on the students’ purposes and refers to the whole range of language resources (Robinson, 1980). A definition of ESP given by Strevens (1988, p. 1 2) is that ESP needs to distinguish between four absolute and two variable characteristics namely: a. Absolute characteristics: ESP consists of English language teaching which is: designed to meet specified needs of the learners related in content (i. e. in its themes and topics) to particular disciplines, occupations and activities entered on the language appropriate to those activities, in syntax, lexis, discourse, semantics, etc. in contrast with ‘General English’. b. Variables characteristics: ESP may be, but is not necessarily: restricted as to the language skills to be learned (e. g. reading only, etc. ) taught according to any pre-ordained methodology (i. e. ESP is not restricted to any particular methodolog y – although communication methodology is very often felt to be most appropriate). Munby (1978, 1996) defined ESP in relation to ESP courses based on the analysis of the students’ language needs. His definition of ESP is still current as follows: â€Å"ESP courses are those where the syllabus and materials are determined in all essentials by the prior analysis of the communication needs of the learner† (p. 2). The interpretation of the expression ‘learner need’ deals with two different aspects of needs (Widdowson, 1984, p. 178), referring to (1) what the learner needs to do with the language once he or she has learned it. This is a goal-oriented definition of needs and relates to ‘terminal behavior’, the ends of learning. (2) [W]hat the learner needs o do to actually acquire the language. This is a process-oriented definition of needs, and relates to ‘transitional behavior’, the means of learning. In ESP, the ends of learning are as important as the means in spite of being normally goal-oriented (Hutchinson Waters, 1987; McDonough, 1984; Robinson, 1991), that is, ESP is meant â€Å"the teaching of English, not as an end in itsel f, but as an essential means to a clearly identifiable goal. † (Mackay, 1978, p. 92) The term of ‘ESP’ has thus been used by different people to mean different things (Blackie, 1979). Nonetheless, the claims for ESP normally have in common in a sense that ESP is not a new approach, but an emphasis on English teaching that should be matched to the students’ specific needs and purposes for their study of English (De Jesus, 1999; Hutchinson Waters, 1984, 1987; La Perla, 1984; Mackay, 1978; McDonough, 1984; Munby, 1978, 1996; Robinson, 1980, 1991; Strevens, 1977; Swales, 1985). Chambers and McDonough (1981) argue that the ‘specific’ in English for specific purposes should refer to both the purpose the language is being used for and the language itself. Three kinds of purposes suggested by Mackay and Mountford (1978) are: 1. â€Å"occupational requirements†, e. g. for international telephone operators, civil airline pilots, etc. ; 2. â€Å"vocational training program†, e. g. for hotel and catering staff, technical trades, etc. ; and 3. â€Å"academic or professional study†, e. g. engineering, medicine, law, etc. Accordingly, an ESP course is pertinently purposeful and is aimed at the successful performance of either occupational/vocational or educational roles (Robinson, 1980) or both. Moreover, Robinson (1991) argues that the language produced as a feature of ESP should be good enough for the job and not be necessarily native-speaker like, but be the communicative strategies and effectiveness of the non-native professional users of English. History of ESP According to Johns’ (1991) discussion, the ESP history in brief with respect to its development and expansion throughout the world has been influenced by the major theoretical and applied schools of linguistics and developed into four phases. The first phase (the 1960s and the early 1970s) was the structure-based phase of linguistic (i. . lexical and grammatical) features of academic and professional registers, for example, the language of electrical engineering and the language of law (e. g. Herbert, 1965). The second phase (the late 1970s and the early 1980s) was the discourse-based phase of register analysis where the function and purpose in discourse became more rhetorical (e. g. Trimble, 1985). The th ird phase (the integration of the discoveries in phase 1 and phase 2) was communication-based phase of systematic analyses of the target learning ituations which concentrate on Munbyian concepts of ‘notional-functional curriculum’ (Munby, 1996), namely: (a) the communicative purposes of speaker/writer; (b) the setting for language use; and (c) the mode of communication and language use. This leads to the language teaching in a communicative approach. The fourth phase (the late 1980s and the 1990s) has been focused on the strategies which learners employ to acquire the target language where the needs analysis (or needs assessment) centers on activities or procedures leading to effective teaching and learning (e. . Hutchinson Waters, 1987). Throughout the past four decades of the history of ESP, the areas of theoretical development and interest in teaching and learning of ESP, relating to the two main branches of ESP: EST and NON-EST, seem to include an interest in regis ter, discourse analysis, the specification of students’ needs (and wants), study skills, or in various methodological approaches to the development of communicative competence (Flowerder, 1990).

My Unforgettable Days in my Life

My Unforgettable Days in my Life The days which I cant forget in life are my school days. The School in which I studied was SSV East Tambaram. The days were sweet and pleasant and I used to wish that night should not come through my life, because I wanted to stay in school but the nature didnt allow me. I studied there till I entered my graduation course. Let me share some of my sweet memories. One fine Morning, my parents took me into the school campus while I was holding their hands tightly as if I was about to go into a lions mouth. I still remember that I was screaming like anything when my parents left me in the hands of my teacher. I was made to sit along with other children and they too were crying loudly by seeing them I cried even more. Like that the whole day went on with full of tears all around the classroom. After one week I was used to it and I made my first friends. All my kinder garden classes were finished with some of the basics in my mind which is still helping me around my life. When I was in class 3 a boy came into our class, and there were some boys who were bullies of the class at that time. When he came those boys went over him and they teased him to the core and I went over and scolded them, from that time the class admired me, those boys went to their places and we both became friends and I had no idea why I scolded those boys in favour of the new comer. But some magic went through our hearts and we are still friends including those boys who teased him. My school campus had a very small area for playing, I am sure that no other campus will provide their students like ours. Our playground had an area about 2000sq.ft.In that 500sq.ft was used by the drivers for parking. There was only one hour in a week for playing, on that occasion also there were 2 to 3 other classes of children used to come and occupy the ground. Even though the number was large for playing we used to play all the games including cricket and football. The greatest thing while playing was if we hit the ball slightly above in the air means it will go into the next house. So, we had to ask them and get the ball. In the mean time the master will come and say your time is over get back to your classes. Many a times we go back to class at a speed in which we came. Even though it had a small area we used to enjoy the hour and will be eagerly waiting for next week to come. Till class 5th I used to write in pencils it was very difficult for me to use that because every time when we do mistakes we have rub it off and if the pencil was not sharp we had to use sharpeners, I hated using them. Then, at last came my day when we entered into class 6th I was given the permission to use pen. It was much better to use, the words were clear and the things which I wrote were catchy and added beauty to the words. Then after two years came another surprise it was all of us came into the school wearing trousers and girls came in churidar. That day was exciting and wonderful because before we used wear shorts which was funny, because some boys will be bulky that it wont suit them. But each and every year apart from birthdays everyone in campus will be allowed to wear causals on November 14th on behalf of Jawaharlal Nehrus birthday. The campus looked colourful and all faces will be glittering like stars as if we have achieved some great thing. On that occasion the class es will be decorated with flowers, colour papers and balloons all around and will have no classes on that single day. All the students will be engaged in some plays and rest will be enjoying watching the programmes. The days were moving in a rocket speed, and the day came when we were about to get separated. In our school there was a procedure followed when the students came to 9th.They used to shuffle all the students based upon the results of 8th .On that day all the students will have to stay in the auditorium and they will call out the names and accordingly we move to our respective classes. All the students will be sad and the faces look dull because the friends with whom we were up to 8th are getting separated. I too was feeling sad for a week and then I became normal. After completing 9th all the students became serious and studious than before because we were in class 10th.Usually all other schools during these periods use to keep special classes and will conduct regular test to make them strong to face the board exam, but my school didnt do such things. We were let free and no special classes were there and had a midterm test for a month. But the students in my class were busy in studies. But I didnt take it much seriously I was what I was before. The days passed on and my first board exam came my way. Our school belonged to Shankaracharya who is famous in the Hindu religion. They used to give blessings before we take our exams. I dont know how much it worked on me. I was very nervous during study holidays, and they too passed on and the day came for me to take my exams. On the first exam I was nervous, after that I was normal, took the exams very easily than the exams taken in the school. After my exams were over I was on a long leave for about 3months, it was the longest leave that I had got in my school days. Our school used to give the groups before the results came on the basis of the performance in the school exams. I got the group before the exam results. Then came the result and it was ok. I was not bothering about the result because I got the group which I needed. The real world of happiness came to me when I entered into my 11th.After three months of gap I was into the campus and when I entered into the class all of them were new faces hardly 3boys were known to me. It was the class where all the studious guys were placed, I was shocked why I have been to this class and tears were there in my eyes by seeing them. All used to talk about studies and I used to watch their mouths. Like that one week went on, and then one teacher came to our class and said that this class has more students when compared to the other class of similar groups. She told that 3 of them should go to next class, I quickly stood up and told I was willing and thank god I was out of that class finally .When I went to the next class I saw all my friends and I mingled with them and there from my happiness started. In every school they used to say that 11th is used for enjoying since we have been working hard for last one year and to work hard for the coming year. It was a year to relax and to enjoy the school days. Each and every day my enjoyment kept on increasing. I made new friends and formed a team of 12 members from various groups. Every morning we use to assemble, enjoy cracking silly jokes which still remain in my heart. During those days I was involved in many sports activities. Our school was famous for a game named kho-kho in our zone. The students of our school were recognised by this game from the day our school was started. I was very much attached to that game and I enjoyed it a lot. We used to practice in the evening after the school hours. Our past passed out school seniors will come daily and we used to play and practice daily for the interschool competition. But this game is not internationally recognised, but its a game where one can gain stamina and improve his speed. The duration of the game was about 30 minutes but each and every second was interesting. We use to win all the games in our zone and we were the champions for many years. Our School had many cultural programmes and I used to participate every year. We used to form a group of members and used to do some innovative things. I still remember we did a mime program with paint all over our body and were standing like statues in different positions and it was the best show ever done in our school days and we use to dance in some functions. In most of the functions we used to do mischief and get scolding from our principal. After every function gets over the next working day our principal will make our group to stand in the auditorium for the whole day but they will allow us in the break to have lunch. It was very interesting to stand in front of all others. Everyone who passes will laugh at us and we loved those moments. In every year we will be waiting for the sports day to come because during those days we will be practicing march-past with group captains of every house leading in the front. And during my 11th I was the sports secretary for my school. I used to light the lamp. That time I was on the top of the world. During sports Day everyone used to wear school uniform but I used to wear jerseys and will instruct all the students. Everyone will be looking at me and they will announce in the mike that so and so student has achieved in the field of sports. Like that I was enjoying each and every moment in my higher secondary. My experience in 12th was also very interesting as I was thinking of college. During those days many test were conducted and we were not allowed to play any sports. We were made to concentrate on our studies. Usually our school used to get the top rank among other schools in our zone. In my batch one student bagged the top mark among all other schools. The staffs who took our subjects were fabulous and they thought us in such a way that we were able to implement in our college studies also. That year too went on nicely but the only thing which I didnt experience was farewell, due to our seniors misbehaviour. But that was not a problem for we used to enjoy every day with full spirit and had no hard feelings for not having it. Finally the date came when we were about to take our exams which was going to decide our career and on other side was going to miss our friends who I loved more than anything. As days past the exam also came to an end, and the last exam was maths and still remember I was very emotional when all of us finished our exams and went back home. Thus, the school days of my life still remains like a scar in my heart which is not going to die till years. I feel that everyone will be happy enjoying the school days more than any other event that comes through their life.