What is the correlation between the factors in purchasing soap and the Research Paper

What is the correlation between the factors in purchasing soap and the the education level of the person making the purchase - Research Paper Example The level of education are; high school, associate degree, undergraduate degree, graduate degree and dnr. Burger and Cooper 2012, develop an urge for control factor impacting the purchase of the soaps, and the level of education of the persons that are purchasing the soaps. According to Burger and cooper 2012, many people agree that the factors that cause the purchase of the soaps are the cost, the brand of the soap, the label on the soaps, availability and ingredient of the soaps. It also believed that, education and other factors might influence the purchasing of the soaps among the people in the society (Wood and Clapham, 2005). Different people differ on how they view the causation. Some group appears to draw conclusion based on the events they observe or connect between cosot and other factors. In this study, a survey was conducted to determine what the correlation between the factor impacting the purchase of the soaps, and the level of education. The data was obtained from a survey at a public fair. My area of interest was, what factors play a role in how people chose to buy soap. The surveys were collected at the end of the day and a spread sheet was made of all the survey questions. In the survey, they complete several classic illusions of control tasks. We try to answer if some people are prone to an illusion of control than others based on their personal beliefs. From the chi- square analysis, it can be observed that the value of chi-square is 60.333 with a p- value of 0.000 which is significantly less than 0.05 level of confidence. This means that there is sufficient evidence to conclude that the hygiene of the soap is influencing the purchase of the soap In this study, the relationship between the factor impacting the purchase and the education level will be examined through a regression analysis, and the correlation analysis between the two variables. The

Creating Methodology Essay Example for Free

Creating Methodology Essay 1. Discuss factors about the corporate culture that were at play, and suggest central reasons why the executive staff waited as long as they had to consider the development of an enterprise project management methodology (EPM). 2. Recommend to both the senior executives (i.e., the company) and John Compton (i.e., the president) whether the project management office (PMO) should report to the chief information officer (CIO) or to someone else. Justify the response. 3. Use at least three (3) quality references.Note: Wikipedia and (3). Difference Quotient A classmate states that the difference quotient of any linear function f(x) = mx + b is always m. Explain if you agree or disagree with this statement, and state why. I disagree because he is using the wrong formula. f(x) = mx + b is the slope-intercept form of a linear function and m represents the slope.

A Tale Of Two Cities :: essays research papers

Throughout the book, A Tale of Two Cities the theme of sacrifice is used to help the reader realize the cost of life, as well as to develop the plot through the effects of those sacrifices. Through the characters of Sydney Carton, Dr. Manette, and Ms. Pross the theme of sacrifice is developed. The theme of sacrifice brings key aspects of the plot together, and Carton's sacrifice brings the novel to closer in the end. Sydney Carton paid the highest cost of sacrifice with his life, and in doing so he was very similar to Jesus Christ. Carton laid down his life for a man who had never done anything for him and who in fact had abused his relationship as demonstrated on page 191 when Carton describes himself in Darnay's view as "a dissolute dog who has never done any good, and never will." Similarly Jesus Christ let himself be beaten, abused, and killed for the same people who spit in his face. Other people in both cases thought that Jesus and Carton were not thought to be much more that dogs, while they both sacrificed their lives so these people who treated them like dogs could live. Both Carton's and Jesus' sacrifice was inspired by a deep desperate love for which they were willing to do anything. Carton was willing to die for Lucie because of his desperate, scandalous love for her, just as Jesus showed his love for man when he was willing to give up his life for every man. This level of love makes the sacrifice even more valuable and brings things to closure. Finally, Carton and Jesus both knew that through their sacrifice, others could have life. Carton's death breathed life into Darnay just as Jesus Christ's death breathes life into those who trust in him. The importance of their death is that it brings life. The role of Carton's sacrifice in the plot is that the cost of life is sometimes high. Through his sacrifice the cost and privilege of living can be measured, just as Christians can see the true cost and privilege of life through Jesus Christ's sacrifice. Dr. Manette also sacrificed much of his life by giving up his own personal goals and agenda for Lucie. On page 125 Dr. Manette says, "any fancies, any reasons, and apprehensions, anything whatsoever, new or old against the man she really loved†¦they

Alternative Energy in Homes

Scientists predict that the day is not far off when the traditional energy resources of the world such as oil wells and water resources might some day dry off. This fact has created an acute awareness of finding alternate energy sources.With increasing population and the development of technology, energy is rapidly consumed in countries all over the world. More so in the United States which is one of the most technologically advanced, well developed and industrialized nation. The main source of energy are fossil fuels like crude oil.These are found to trigger global warming. Moreover, these energy sources take a very long time in formation and hence are likely to get scarce over the years. There is a growing demand for energy and as a result the rising trend in crude oil prices is bound to continue. To resolve the problems associated with cost, scarcity and pollution, there is the concept of using alternative energy sources. According to this concept, power is converted from differen t natural sources to produce heat and electricity.Some such alternative energy sources are sunlight, wind, and biomass fuel. Energy is used in homes, businesses, industry, and for traveling and transportation purposes. It has been found that while the industrial sector uses about one-third of the total energy, the residential and commercial sectors combined use about 40 percent of all energy. This includes all types of buildings such as houses, such as houses, offices, stores, restaurants, and places of worship. (Source: Energy Information Administration, Annual Energy Review 2005, Washington, DC, July 2006) .A comfortable house in today’s modern society is one that uses lights, air-conditioning, TV, microwave, dishwasher and other appliances. More than half of the energy used for heating in single-family homes is natural gas, about one-fourth is electricity, and one-tenth is fuel oil (heating oil). Using alternative energy sources in homes is likely to reduce the overall ene rgy usage of the nation appreciably. Solar power involves transforming some of the sun’s massive thermal energy into electricity.There are two ways of using solar power as an alternative energy source in houses: photovoltaic (PV), where sunlight is directly converted into electricity via solar cells, and utilizing solarthermal power. In a photovoltaic cell, sunlight falls on a layer of semiconductors which in turn creates an electrical current. This is a proven technology that can be easily used in houses to provide heat and power. Electricity can be produced from solar power by placing solar panels on the roof. These panels consist of photovoltaic cells that can convert sunlight directly into electricity.A modern photovoltaic cell can convert almost 80% of the sunshine into electricity . Moreover, it is interesting to note that electricity that is produced through solar power during the day may be stored in batteries for use in the night. In turbines the sun’s heat ca n be used to convert water into steam and then utilize this steam to running turbines. The turbines in turn can be used to run generators, which produce electricity for the entire alternative energy home. According to Bryan Wong, to heat a home a solar panel can be installed on the roof where water is heated .The hot water is then stored in a big tank which in turn is used for a central heating system and also for hot running water. Another way to heat a home is to use solar collectors. The heat from the sun is then stored in specially designed effective collectors. Some of these collectors have shown the capacity to heat homes even in the middle of winter. The Solar Home Lighting system is a fixed installation designed for domestic application . The system comprises of Solar PV Module (Solar Cells), charge controller, battery and lighting system (lamps & fans).The solar module is installed in the open on roof/terrace – exposed to sunlight and the charge controller and batter y are kept inside a protected place in the house. The solar module requires periodic dusting for effective performance. Jeff Gilbert has found that the solar attic fan harnesses solar power to create electricity that will cool the attic by removing the same heat. The kit includes a 40-watt solar panel, a thermostat / controller and a 12-volt DC powered 11†³ diameter fan .The biggest barriers to increasing solar power generation are the cost, and the intermittent nature of the energy source. Solar power is likely to become more popular if technology can usher in cheaper PV cells and solar-thermal energy. Solar energy is much easier to use in the city area and so it is highly applicable for usage in Atlanta, Georgia. The roof solar-panels that are needed can be placed on the roof out of sight. Wind power is another powerful alternative energy source. To use wind power a windmill-type device can be installed on the house or nearby.The wind-mill powers a turbine that can be used to generate electricity. Just like in the case of solar power, wind power can be stored in batteries. Windmills have been used for the past few centuries and initially they were used to mill grain and pump out water from large beaks or lakes to gain land . Today windmills are used in homes to run small generators for home owners. These generators produce electricity to be used in running small home appliances. It would not be possible for using windmills within the city area because windmills generally need a lot of space.They are a few meters in diameter and fairly high. However, small-scale building-integrated wind turbines suitable for urban locations are currently being developed and will be available to install in homes and other buildings within the next few years. Hydropower can be tapped by using the power of running water to run generators. These generators in turn can store electricity which can be used for running the home appliances. This technique is also used in the past where waterwheels were used to grind grain into flour, just like windmills.But like the windmills this form of alternative energy is not feasible to use in the city area. The fourth technique is biogas. Biogas is produced naturally via the decomposition of different biomass. Biomass refers to plant matter, such as plants, trees, grasses, agricultural crops, and animal manure. Farmers can successfully use this method to produce biogas. The biogas can be used for heating to home or can even be used to cook. This form is also not common to use inside the city area. It is best used in houses closer to farms or within farms.Currently the most economical type of biomass for generating energy comes from residues, organic byproducts of food, fiber and forestry including sawdust, rice husks, wheat straw, corn stalks and bagasse (sugar cane residue). Chicken manure is also becoming an important fuel for generating electricity from biomass. In some cases, especially where the cost of biomass is very low, it is co-fired with a fossil fuel, such as coal, to lower the overall cost of the electricity produced. Currently, cofiring is the most economical form of electricity generation that is used in alternative energy homes .The typical American household spends about $1,400 annually on heat and electric utilities. Due to this huge cost, across the US some 185,000 households have switched from the local power company to their own homegrown, renewable energy. People are learning to heat their homes with a wood-burning stove. Wood burning stoves work on the principle of radiant heat coming directly off the stove. These stoves provide heat by having an electric motor blow the heat produced by the burning pellets into the room the stove is in much the same way a furnace would blow heat through ductwork.The fumes from pellet- and corn-burning stoves are typically vented directly through an exterior wall to the outside. Liquid propane is also used in some houses to run water heate r, dryer, and stove . At Belmont Avenue, Salvador Lamas the owner of the Taco Burrito King, decided to go solar when he found he was paying hard to heat 500 gallons of water every day. He installed solar panels on the roof of his Belmont Avenue building, and soon saved money by heating water directly with solar thermal. He also uses solar power to wash and cook vegetables. As a result, he saves close to $2,000 a month (Pink, 2005).A panel of state officials, utility executives, environmental advocates, business leaders and academics have been working on the issue of finding alternative energy for the state of Georgia. The Governor's Energy Policy Council has recently published a report that lays out the importance of taking a leadership role on alternative fuels. The report from the governor's council recommends that Georgia should â€Å"go native† by investing intelligently in untapped energy resources readily available in our own backyard. Among the most promising and profi table resources on the horizon are (Harris, 2006) :†¢ Trees and timber products. Georgia has many thousands of acres of pine trees that can provide the raw material for cellulosic ethanol, a type of biofuel that burns more cleanly than conventional fossil fuels. Ethanol derived from timber products requires less energy to manufacture than ethanol derived from corn. †¢ Biogas: Georgia's livestock and poultry could also prove a plentiful source of biogas, another renewable fuel. Animal wastes can be treated in special digesters that create methane gas, which in turn can be used to generate a cleaner form of electricity without adding to greenhouse gases.The main drawback in using alternative energy sources for home purposes is that one needs to invest in equipment to convert these sources into the energy needed. Thus while the price of an alternative energy home will be high, it must be noted that the expenses for such a home will be reduced. This would be an ideal home in w hich there is greater market value and reduced costs of living. The alternative energy home is the future in many ways. Bibliography: Pink H. Daniel. The New Power Generation. Wired Magazine. Issue 13. 05 May 2005. http://www. wired. com/wired/archive/13.05/solar. html? pg=2&topic=solar&topic_set= Wong, Bryan (2006). Are Alternative Energy Homes the Future? http://www. energyefficienthomearticles. com DIY (2006). Solar powered Attic Fan. http://www. diynetwork. com/diy/he_diagnostics/article/0,2037,DIY_13893_2277472,00. html EIA (2007). Uses of Energy in Homes. http://www. eia. doe. gov/kids/energyfacts/uses/residence. html GEDA (2003). Solar Home Light System. http://www. geda. org. in/solar/so_slr_hmlight. htm Radisson, Elizabeth (2007). Wood burning and Pellet Burning Stoves. http://www. energyefficienthomearticles.com/Article/Wood-Burning-and-Pellet-Burning-Stoves/1802 Harris V. Lyle. Our Opinion: Georgia can be energy pioneer. The Atlanta Journal-Constitution. Published on 01/2 1/07. http://www. ajc. com/search/content/opinion/stories/2007/01/21/edenergy0121. html Sarah E. Douglass. Special Report: Identifying the opportunities in Alternative Energy. https://a248. e. akamai. net/7/248/1856/29de4d06b10347/www. wellsfargo. com/downloads/pdf/about/csr/alt_energy. pdf Bryan Wong. Energy Efficient Homes. http://www. energyefficienthomearticles. com/ezineready. php? id=3906

Can listening to favorite music heal? Essay

As Billy Joel (2014), songwriter and performer, once said, â€Å"I think music in itself is healing. It’s an explosive expression of humanity. It’s something we are all touched by. No matter what culture we’re from, everyone loves music†(para.1). People love music, don’t they? Everyone would agree with that. Music touches us in deep ways that words alone cannot. Music stirs our emotions, makes our bodies move, and has also been used for therapeutic purposes. In the first place, music stirs our emotions and touches us deeply where words cannot. Now, depending on the genre you’re listening to at that point in time, you’re smiling and happy. For example, the song titled â€Å"Happy† by Pharrell Williams is an upbeat song with positive lyrics. Whereas, some really bad rock music can sometimes make you feel angry, depressed, or both. In the Global Post article describing the relationship between music and children’s behavior, â€Å"Children who listen to heavy metal music have a greater propensity for substance abuse and other risky behaviors during adolescence, according to the American Association of Pediatrics† (Wade, 2014, para. 2). Studies are finding that desensitizing lyrics with negative messages tend to encourage misbehavior that is violent or anti-social. There is also inspiring music and music that is sad, but helps to heal your heart when dealing with a loved one’s passing. Music has also made one feel at peace in their surroundings. Music also makes our bodies move. Research on the effects of music during exercise has been done for hundreds of years. In 1911, an American researcher, Leonard Ayres, found that people pedal faster while listening to music than they did in silence. This happens because listening to music can drown out our brain’s cries of fatigue. As our body realizes we’re tired and wants to stop exercising, it sends signals to the brain to stop for a break. This is mostly beneficial for low- and moderate- intensity exercise (Cooper, 2013). Playing different types of instruments makes our bodies move as well. Listening to music during housework is a great way to move. You can dance very silly and no one is around to see it. Music makes us move. Lastly, music has been used in therapy for hundreds of years. Music therapy can start with activities such as shaking a rhythm shaker egg, maracas, or drumming in beat with others, or  it can become an advanced exercise in writing expressive lyrics and singing with a group. The benefit of music helping during a therapeutic procedure is people with brain injuri es can activate the brain in alternate ways, allowing them to regain movement or speech. Studies show that people, especially among teens suffering from depression and sadness, when starting to listen to positive music actually lowers the need for suicide. Also, when children with developmental disabilities, listen to music they love it gives them a fresh new way to communicate and the feeling of being independent. An example of the healing power of music is to watch video a about Henry, an old man who has been living in a nursing home for 10 years. Like some people his age, Henry is suffering from dementia. He forgets things easily and has lost many of his mental abilities. In fact, Henry lives in his own world, often unresponsive to other people. But the nurses discovered that if they let him listen to his favorite music from the past, he is instantly transformed with life energy, and suddenly able to have conversations with the people around him. Music breathes life into his body and mind. It truly is an amazing example of the healing power of music. In conclusion, music truly has a powerful impact on our lives. It can be therapeutic, make our bodies move, along with stirring our emotions. So what will you be listening to tonight? References: Billy Joel’s quote and my thesis. Beginning of the site http://deepenglish.com/2012/11/the-healing-power-of-music/ Cooper, B. (2013) 8 Surprising Ways Music Affects and Benefits our Brains – Step 8 Retrieved from Twitter Webinar: http://blog.bufferapp.com/author/belle-beth-cooper An old man, Henry with Dementia, and what the power of music from his era does for him. Retrieved from youtube:http://www.youtube.com/watch?v=NKDXuCE7LeQ Wade, L. (2014) Does the Type of Music a Child Listened to Affect the Way They Will Behave Globalpost. Retrieved from: http://everydaylife.globalpost.com/type-music-child-listened-affect-way-behave-19821.html

Views on Abortion essays

Views on Abortion essays All throughout American abortion remains one of the most debatable subjects of the current age. However, in this essay the issue in question is not primarily that of abortion. The main issue lies in when the fetus can be considered a person. An unwanted child is a sad thing, and the social problems which come with this child have no easy solutions. Single motherhood, financial destitution, child neglect, and urban overcrowding are some outcomes of an unwanted child. Several areas of this topic include history, medical, law, and Bible. From the history aspect, information will be brought forth as to church history and when certain groups saw a fetus as an individual. On the other hand, the medical perspective will show doctors opinions to when a fetus (by medical standards) is officially able to be considered a living individual. The law area of the subject covers when, where and on what grounds abortion was legalized. The final branch consists of Biblical interpretation and views on abortion from both pro-choice and pro-life views. The goal of these pages is to examine the intense subject of abortion from several perspectives, with the main focus centered around the question of when the fetus life as a person begins. Both pro-choice and pro-life supporters disagree on the subject. However, there is also agreement. A majority on both sides tend to agree that the life of a child is priceless and should be guarded under the full protection of the law. There is also a high number in agreement with the idea that a has the right to make decisions about her own body. The disagreement lies in when the fetus is considered a person, and thus is protected by the law. If one believes that the fetus is not a person, than the fetus is simply a part of the womans body, and contingent to her control. And with this opinion, any effort to take away from this control is a ...

A Time of Change In The Great Gatsby by F.Scott Fitzgerald

A Time of Change In The Great Gatsby by F.Scott Fitzgerald ' 'Suppose you met somebody just as careless as yourself.' 'I hope I neverwill,' she [Jordan] answered. 'I hate careless people. That's why I like you.' '(Fitzgerald, pg. 63) Jordan is explaining to Nick how she is able to drive badly aslong as everyone else drives carefully. This quote represents the writing technique offoreshadowing, which is being used in one of its finest form. Fitzgerald isforeshadowing to chapter seven where Daisy kills Myrtle Wilson because of her recklessdriving. Fitzgerald uses foreshadowing to strengthen the plot of his book. In chapternine, Nick begins to recall the past and relive his old memories. His must relieve hislingering thoughts of the past. During the chapter, Nick uses a flashback to tell aboutGatsby's funeral for the readers to know what happen the day Gatsby was shot. Flashbackin The Great Gatsby also helps to give the reader background information about theThe Great Gatsbycharacters. In The Great Gatsby, the structure of the novel is influenc ed byforeshadowing and flashback.Fitzgerald utilizes foreshadowing to the best of its ability to help organizethe novel. 'Luckily the clock took this moment to tilt dangerously at the pressure ofhis head, whereupon he turned and caught it with trembling fingers and set it back inplace. 'I'm sorry about the clock,' he said. 'It's an old clock,' I told himidiotically.' (Fitzgerald, pg. 92) This quote is the first use of foreshadowing whichis in chapter five. It pertains to all of the trouble Gatsby causes as he tries to winDaisy back. The past is represented by the clock and how Gatsby wants to repeat it withDaisy. (Eble, pg. 963) This quote foreshadows to the end of the novel when Nick is leftto tell the story of the dreamer whose dreams were corrupted.(Eble, pg. 963) 'they smashed up things and creatures and then retreated back intotheir money or their vast carelessness or whatever it was that kept them together, andlet other people clean up the mess they had made.' (Fitzgerald, pg. 188) In chaptersix, Fitzgerald focuses on the first moment of disillusionment which Gatsby has.(Magill, pg. 90) ' 'Can't repeat the past?' he cried incredulously. 'Why of course youcan!' ' (Fitzgerald, pg. 116) This quote is clearly foreshadowing almost the entirebook. It foreshadows Gatsby's attempts to woe Daisy for Tom and tries to make thingsthe way they were before he left for the army . It also alludes to the fact that hemust be rich and powerful to do that. Overall, it shows that he destroys himself tryingto get Daisy back from Tom Buchanan. In the beginning of chapter eight Fitzgeraldforeshadows the death of Gatsby. 'I couldn't sleep all night; a fog-horn was groaningincessantly on the Sound, and I tossed half sick between grotesque reality and savagefrightening dreams. I heard a taxi go up Gatsby's drive and immediately I jumped out ofbed and began to dress- I felt that I had something to tell him, something to warn himabout and morning would be too late.'(Fitzgerald, pg.1 54) This quote definitely foreshadows the death of Gatsby.Fitzgerald also foreshadows Wilson's involvement when his wife died. ' 'He murderedher.' 'It was an accident, George.' Wilson shook his head. His eyes narrowed and hismouth widened slightly with the ghost of superior 'Hm!' ' (Fitzgerald, pg. 166) Thisquote clearly tells the readers that George is not going to let the person who he thinkskilled his wife get away with it. Foreshadowing is sparingly displayed though out thenovel and especially in the last chapters.Flashback is used quite often in The Great Gatsby. Jordan begins to rememberwhen she met Gatsby with Daisy for the first time and how they were in love. 'OneOctober day in nineteen- seventeen.....The largest of the banners and the largest of thelawns belonged to Daisy Fay's house. She was just eighteen....His name was Jay Gatsbyand I didn't lay eyes on him again for over four years.' (Fitzgerald, pg. 80) As thereader can clearly see, Jordan begins to narrate about the first and last time that shesaw Gatsby with Daisy which was four years ago. In chapter eight, Nick flashes back tothe night of Myrtle's death and begins to tell the story of what went on after herdeath. 'Now I want to go back a little and tell what happened at the garage after weleft there the night before.' (Fitzgerald, pg. 163) Nick tells the reader about howWilson thought he had figured out who had killed his wife. Nick follows step by step ashe walks all the way to Tom Buchanan's. Nick then describes Wilson killing Gatsby inthe pool and then Wilson killing himself.In chapter nine, another flashback is told by Nick. Nick recalls the night ofGatsby's death, and the next day, when all the policemen were at Gatsby's house.'After two years I remember the rest of that day, and that night and the next day, onlyas an endless drill of police and photographers and newspaper men in and out of Gatsby'sfront door.' (Fitzgerald, pg.171) Nick then proceeds into another flashback where he istry ing to get people to come to Gatsby's funeral. During this flashback Nick finallymeets Gatsby's father, Mr. Gatz, who came to his son's funeral. 'Next morning I sentthe butler to New York with a letter to Wolfshiem which asked for information and urgedhim to come out on the next train. [for Gatsby's funeral]...When the butler brought backWolfshiem's answer I began to have a feeling of defiance.....The third day that atelegram signed Henry C. Gatz arrived from a town in Minnesota...It was Gatsby'sfather.' (Fitzgerald, pg. 175) In the last sentence of the novel the reader realizesthe story is being told as seen through the eyes of a Dutch sailor which transports thereader into the past. (Magill, pg. 91) 'Boats against the current, borne backceaselessly into the past.' (Fitzgerald, pg. 189)As one can see, the book came to life through the use of flashback andforeshadowing. These two main ingredients in this novel made it possible for the readerto be able to understand Gatsby the way Fi tzgerald does. It also helps one tounderstand Gatsby's relentless pursuit of the American dream. These two elements of thenovel were weaved into a great book that was read and adored by millions of readers andschool students.

How to Impress Employers with a Quality Cover Letter

How to Impress Employers with a Quality Cover Letter How to Impress Employers with a Quality Cover Letter The cover letter is the first thing anyone sees when you apply for a job, the idea being to convince the reader to learn more about you via your resume. No matter how great your resume is, without a good cover letter to go with it, you might as well spit in an envelope and send that instead. N.B. Spitting is only advised when applying to be a cobra. Before you start expectorating, however, you should try these tips for writing an outstanding cover letter. Research and Customization There’s nothing wrong with using a template letter, especially if you’re applying for several similar jobs, but you need to customize each one you send out to reflect the specific job. This requires doing a little research about the role and the company, making sure that you emphasize the qualities specified. You should also try to find the name of the person who will read your letter. If you address it to them directly, it will reach them more quickly than if you use â€Å"Dear Hiring Manager.† Keep it Short Employers may have to read dozens of cover letters every day. As such, if you write a thirty-page epic about why you’re perfect for the role, it might never get read. It’s far better to keep things short (roughly one A4 page). As well as ensuring that someone reads your cover letter, this lets you demonstrate your ability to communicate clearly and concisely in writing, which is a valuable skill in itself! Structure We can’t tell you what to write in your cover letter: That depends on the job! However, we can set out what most cover letters should include: A formal greeting/salutation An introductory paragraph where you identify yourself, the role you’re applying for, how you found the position, and your reasons for applying A few paragraphs outlining your strengths as a candidate, what you would bring to the role and examples of how you’ve applied relevant skills in the past A concluding paragraph reiterating your suitability for the role, when you’re available, how to contact you, and thanking the reader for their time A suitable closer/valediction Proofread It! Obviously, we’re keen on proofreading (we wouldn’t be here if we weren’t). But even if you’re not the type of pedant who gets their knickers in a twist about misplaced apostrophes, proofreading your cover letter before you send it to employers is crucial to success. A cover letter with spelling and grammar mistakes may suggest you don’t care about the job. As such, even if the roles to which you’re applying don’t require perfect written English, you must check carefully for mistakes before sending your cover letter and resume to employers.

Banking Essay Example | Topics and Well Written Essays - 3750 words

Banking - Essay Example Not only the internal rating, but also the governance and the quality of risk management will be a major factor in being able to use internal ratings as a basis for calculating regulatory capital requirements. National supervisors will authorise firms to use one of the internal-ratings based approaches on a case by case basis. Basel II also introduces capital requirements for operational risk, a risk category that was not explicitly addressed under the Basel I rules. To a large extent, the proposed Basel II was in response to widespread criticism of Basel I. But it also reflected additional thought and analysis of the role of bank capital regulation. In particular, Basel II added two new "pillars" - supervisory review (pillar 2) and market discipline (pillar 3) - to the single pillar of minimum capital requirement of Basel I. In response to public comments, the Committee revised its proposal twice and issued a third consultative paper (CP3) in early 2003. If approved, the proposed standards are scheduled for implementation in most countries at the beginning of 2007. In preparation, in August 2003, U.S. regulators circulated an Advance Notice of Proposed Rulemaking (ANPR) for the application of Basel II to U.S. banks for public comment by the end of the year, and the major features have been incorporated by the European Union in a proposed revision of its Capital Adequacy Directive (CAD) for financial institutions, for approval by the European Pa rliament and the member national parliaments before adoption A key feature of the New Accord, as noted above, is that it is structured on the basis of three pillars: (1) Pillar 1. Minimum capital requirements for market credit and operational risk (2) Pillar 2. Supervisory review process and (3) Pillar 3. Market discipline These pillars are interlocking and mutually reinforcing. For example, the use of the more sophisticated approaches to credit or operational risk will bring additional disclosure requirements under Pillar 3, and will affect the nature of the supervisory review conducted under Pillar 2.Pillar 1 - Minimum capital requirements Under Basel II, the definition of regulatory capital as well as the minimum required ratio of 8% of risk-weighted assets remains substantially unchanged from the Basel I Accord2. The treatment of position risk arising from trading activities as set out in the 1996 Amendment of Basel I Accord also remains substantially un-changed, although significant changes are proposed to the treatment of counterparty credit risk that have been discussed in a joint working group established by the Basel Committee and the International Organisation of Securities Commissions (IOSCO). The principal modifications relate to the methodology for calculating risk-weighted assets categories, credit and operational risk. The minimum capital requirements and methods used to measure the risks faced by banks, as defined under Pillar 1 of the Basel II Ac-cord, are given in the paragraphs below. Credit Risk: Pillar 1 Three methods for calculating credit risk capital are offered. In order of increasing sophistication and risk

Loop Diagrams Article Example | Topics and Well Written Essays - 750 words

Loop Diagrams - Article Example This is to mean, if there is a decrease in the node where the link starts, the other node decreases as well. Similarly if there is an increase in the node where the link starts, the other node increases as well. A negative causal link shows the two nodes changing towards opposite directions (Richardson 1986). This is to mean, the increase of the node in which the link starts decreases the other node and the decrease of the node in which the link starts increases the other node. This diagram has two feedback loops. R represents the positive reinforcement loop. It indicates that the word of mouth is one of the factors that have been used to reinforce the price of the Nokia mobile phone. The more praises the Nokia mobile phone receives from its customers; the higher the demand of the product regardless of its price. The more people refer to the mobile phone and demonstrate its effectiveness, the positive feedback tend to generate growing sales of the mobile phone (Sterman 2000). The next feedback loop B, which is on the left is negative reinforcement. It can also be referred to as balancing. It is obvious that the Nokia mobile phone will not be praised forever. Once customers get used to the Nokia mobile phone, they will look for newer different products. At this point, the growth of the product is likely to decline. The manufacturers of this particular mobile phone brand will have to lower its price so as to continue selling the phone (Sterman 2000). Feedbac k loops act concurrently, but at some point they portray different strengths. Thus, the price of mobile phone is likely to remain high in the initial years and decline in the later years when people get used to it. The causal loop diagram above is a good example of a reinforcement loop; it is referred to as reinforcement loop because the feedback increases the effect of change (Sterman 2000). As more investment is imposed on the Nokia mobile phone, the manufacturer can regulate

Conflict and Its Resolution Research Paper Example | Topics and Well Written Essays - 1750 words

Conflict and Its Resolution - Research Paper Example   Understanding the complexity and types of conflicts that may arise on the college campus is essential for dealing with such situations and resolving the conflicts in a systematic and professional manner. College life has become more challenging and mindboggling than ever witnessed historically due to certain reasons including rapid globalization and interconnectivity that has increased the diversity at campuses, awareness pertaining to the rights of the individuals including faculty, students, or other employees, and the legal repercussions associated with these rights have all led to the hike in conflicts emerging at college campuses, thus changing their overall environment (Volpe & Chandler, 1999, p. 3). Simultaneously, the awareness and realization regarding the need to resolve these conflicts have also increased dramatically. Institutions are putting in great effort to devise resolution plans.   In order to devise these training programs and mediation services, it must be d uly noted that there exist various types of conflicts, which span over all spheres of work life at a college campus including faculty, students, and administration. The dynamics of the conflicting parties can vary, and this report would focus on the resolution of conflicts in the following spheres: Residence Halls Student/Faculty Faculty/Faculty and Faculty/Administration The classification of conflicting parties in the aforementioned categories does not at all entail that these are the only conflicting bodies and the range can be diverse and never be ending. However, these are the most important dynamics and so this report would incorporate these only.   a) Residence Halls i) What kinds of problems occur in residence halls? According to the classification of conflicts mentioned earlier, the most common type is the conflicts that arise between students associated with the residence halls (McCorkle & Mason, 2009). When a large number of students, belonging to diverse backgrounds, e thnicities, class, race, and culture come together under one roof, they are expected to show tolerance and respect towards people nurturing diametrically opposite opinions or beliefs. In such situations, it is not necessary that every individual would be capable of suppressing their disagreement and respecting others’ opinions thus, resulting in conflicts. Issues such as alcoholism, bulimia, drug usage, hacking, computer pornography, suicide, violence, and even petty issues such as differences in sleeping patterns, intolerable habits, and other interpersonal conflicts can be major problems for a college campus. In the following, ways of handling and resolving these issues are discussed. ii) How to solve these problems? It is important to avoid problems at college campuses, however, if such issues arise then they should be resolved with care. Therefore, as a preliminary step, the administrators must focus on assigning students who have the same preferences and lifestyle patter ns to the same rooms.  

Case Management Strategies Essay Example | Topics and Well Written Essays - 1000 words

Case Management Strategies - Essay Example Qualification in case management is the provision that requires case managers and support staff to have the necessary expertise to handle cases. Caseload size involves the magnitude of cases that requires handling at the same time by the manager and the support staff. Support staff is other staff members such as nurses, social workers who assist the manager in handling patient cases. Training and education in case management is offered to the staff members to equip them with skills and knowledge required to handle client cases. Finally, supervision entails following up on the patient to ensure that they are doing what is prescribed by the intervention program. 2. Intake is the initial step in case management. In this part, I would only ask the client their name, the problems they have and who referred them among other basic questions. In the assessment part, I would evaluate the client’s condition by exploring the historical background to his/her problem and knowing all the dimensions of the problem. Next will be explaining to the client the services I provide and discuss the contract including issues of informed consent. The next step would be goal setting where in collaboration with the patient, we would set attainable and appropriate goals. This would be followed up by the intervention planning, which is the actual action of implementing helpful strategies (Cameron & Turtle-Song, 2002). In case the case I am handling requires a referral, I will refer the patient to helpful social networks and agencies for assistance. Then, I will continuously monitor the progress of the client to ensure that all the goals are met. In re-assessme nt, it would be about evaluating whether the goals of the strategy have been met. Finally, the outcome evaluation would involve meeting the outcomes against the goals set at the beginning of

Music Essay Example | Topics and Well Written Essays - 1000 words - 6

Music - Essay Example The main genres of the 17th – 18th centuries’ music are cantata and oratorio. The importance of secular music increased: it sounded at courts, in the salons of the aristocracy, in public theaters (the first such theaters were founded in the 17th century). Opera takes shape as a new kind of musical art.   Ã‚  Ã‚   New genres also emerged in instrumental music. Primarily we can talk about an instrumental concerto. The violin, harpsichord, organ gradually turned into solo instruments. Music, composed for them, made ​​it possible to show not only the composers’ talent but also talent of the performing musicians. Virtuosity was valued most of all. It gradually became an end in itself for many musicians. The composers of the 17th -18th centuries usually composed not only music, but also skillfully played instruments and were involved in teaching activities. Welfare of musicians and composers largely depended on a specific customer. As a rule, every serious musician sought a place at court of a monarch or a wealthy aristocrat (many noblemen had their own orchestras or opera houses) or in a church. And the majority of composers easily combined church services with music-making for their secular patrons. Austria took the leading role in the development of musical culture in the 18th century. European opera, after two centuries of development, finally reached the pinnacle in the work of Viennese composers - Christoph Willibald Gluck (1714 - 1782) and Wolfgang Amedeo Mozart (1756 - 1791). Classical symphonic style and classical chamber music were created by an Austrian composer Joseph Haydn (1732-1809) and genius Mozart. When people talk about classical music (in the sense of a certain movement, along with the Romantic Movement, Impressionism, etc.), they primarily have in mind the Viennese classical school, represented by Gluck, Haydn, Mozart, and Beethoven in the 19th century. Creative works of Haydn and Mozart, sons of

Case Management Strategies Essay Example | Topics and Well Written Essays - 1000 words

Case Management Strategies - Essay Example Qualification in case management is the provision that requires case managers and support staff to have the necessary expertise to handle cases. Caseload size involves the magnitude of cases that requires handling at the same time by the manager and the support staff. Support staff is other staff members such as nurses, social workers who assist the manager in handling patient cases. Training and education in case management is offered to the staff members to equip them with skills and knowledge required to handle client cases. Finally, supervision entails following up on the patient to ensure that they are doing what is prescribed by the intervention program. 2. Intake is the initial step in case management. In this part, I would only ask the client their name, the problems they have and who referred them among other basic questions. In the assessment part, I would evaluate the client’s condition by exploring the historical background to his/her problem and knowing all the dimensions of the problem. Next will be explaining to the client the services I provide and discuss the contract including issues of informed consent. The next step would be goal setting where in collaboration with the patient, we would set attainable and appropriate goals. This would be followed up by the intervention planning, which is the actual action of implementing helpful strategies (Cameron & Turtle-Song, 2002). In case the case I am handling requires a referral, I will refer the patient to helpful social networks and agencies for assistance. Then, I will continuously monitor the progress of the client to ensure that all the goals are met. In re-assessme nt, it would be about evaluating whether the goals of the strategy have been met. Finally, the outcome evaluation would involve meeting the outcomes against the goals set at the beginning of

Media Advertising Essay Example | Topics and Well Written Essays - 500 words - 2

Media Advertising - Essay Example This paper delves into how media advertisement can be used to promote sales for software products. When marketing for software products I would engage in the process of developing the marketing plan required to sell the software. Research on how to market the product would cover market needs, market trends and the best mode of advertising. Since the identified marketing medium is through online selling on Facebook, the best tactic to use would be to display unique features about the product using creativity that is difficult to copy (Feltenstein, 2010).   Legal implications – when using the online advertisement, any breach of law can always be traced back and used as evidence of the case. Due to ignorance of law, many businesses suffer from this risk. Security breach – there are hackers or internet criminals who target the operations of the companies that undertake online marketing. This involves track on financial information and account details or company profile to create havoc (Smith, 2011).   Advertising on the internet serves as a good strategy to increase profits for the company or the business. Social media advertisement targets a large group of people who act as customers of such products and they lead to increased sales of the product. Many customers who deal with online products get more satisfaction because they can make the transactions using online system and they are able to get the specific product without going for window shopping. Since the customer satisfaction is high through social media due to factors like integrated marketing communication, there are more customers in social media which leads to increased sales and thus profitability (Funk, 2013).   Social media advertisement also leads to profits through reduced cost of operation. Through online advertisement, the business applies integrated marketing communication (IMC) which involves combining all aspects of marketing such as sales promotion, public

Poetry and Ozymandias Heart Essay Example for Free

Poetry and Ozymandias Heart Essay How life goes on: the analyzing of diction and imagery in â€Å" Ozymandias† The poem â€Å"Ozymandias† by Percy Bysshe Shelley is about a traveler telling the speaker about a statue in the desert. This statue is half sunk in the sand and the traveler explains that the â€Å"sneer of cold command† on the statue’s face shows that the sculptor understood the passions of the statue’s subject. This man sneered at the people who were not as powerful as him, but he fed his people because of something in his heart. The Traveler goes on and says that on the pedestal of the statue, it is written, â€Å"My name is Ozymandias’, king of kings: / Look on my works, ye Mighty, and despair!† But when you look all around the statue for the â€Å"works† there is nothing but sand and a bare desert. In this poem, Percy Bysshe Shelley creates the image of destroyed sculptures to show that nature destroys all and his choice of diction is quite interesting. The diction in this poem creates a strong sense of imagery. The notable diction is combined with alliteration to create even more powerful imagery, such as the â€Å"Sneer of col command†. Ozymandias’-â€Å"ozy† meaning air and â€Å"mandias† meaning King/God, is a sonnet, a fourteen lined poem metered in iambic pentameter. Percy Bysshe Shelley uses words such as, Trunk-less- torso is gone, visage- another name for face, and colossal- which is an allusion of the colossus of roads. He uses this choice of diction to interest the reader furthermore by being more descriptive and letting the readers imagination go wild. The poem Ozymandias has two voices. The first is the speaker, who tells the entire poem. The other is the traveler, who tells the main speaker about the poem. The speaker tells us the traveler is from an antique land,† which is a metaphor for the old age of his country. Antiques are valued mainly for their age and are almost always not modern. The traveler is described as well-traveled, knowledgeab le, and wise. The Traveler’s whole speech is about a statue that he once saw in the middle of a desert. He tells us that the â€Å"trunk† of the statue is gone; The head of the statue lies in the sand at the feet of the legs and the expression on the face is still visible. There is a lot of death in this poem. The figure represented in the statue is dead, along with the civilization to which it once belonged. The Traveler says that the lip is â€Å"wrinkled†, but he says this is not because of old age but it is the â€Å"sneer of cold command†. This leaves the reader with an impression that Ozymandias’ was a cold ruler and had no trouble giving orders. In this  octave though it is suggests that the stone is â€Å"lifeless†, but on it is some â€Å"passions†. The reader, most likely imagines that these passions are greed, conceit, and other passions that are appropriate to a harsh, power-loving ruler. These same passions are said by the traveler to â€Å"survive† the â€Å"hand that mocked them,† which would be the sculptor, and the â€Å"heart that fed† them, which is Ozymandias’.The poem is consistent to a single metaphor: the shattered, ruined statue in the desert wasteland, but another metaphor is â€Å"the heart that fed†. Ozymandias’ heart â€Å"fed† these passions. The heart seemed to be compared to a powerful figure and the passions seemed more like an animal the master throws some food to, but I think the sense is more that Ozymandias’ heart fed on the passions. When you look at it like this, Ozymandias’ heart becomes a killer and the passions his prey. It seems obvious then that the passions kept the heart alive and beating, the passions are sustenance to the heart. The passions don’t seem to be suggested to be bad, but Ozymandias’ feeding on these passions of greed and conceit resulted in evil, the same evil we see on the statue’s face. His image of the broken sculpture shows how things change over time and that human beings and materialistic values are seasonal and are bound to end. They are all prone to be affected by the laws of time.

Impact of Project Management on Mergers and Acquisition

Impact of Project Management on Mergers and Acquisition In todays complex and competitive global business environment, organizations must adapt to changing environmental conditions by continuously initiating changes in order to remain competitive and profitable. These changes occurs when organizations undertake such changes as implementation new technologies, mergers or acquisition, downsizing, restructuring operations, and outsourcing. During these changes if companies implement programmes like six-sigma or business process improvement then according to Hayes(2002), these changes are usually prompted by a need to maintain or improve an organization effectiveness where effectiveness relates to the organizations ability to use recourse efficiently to achieve immediate goals as well as embracing the need to changing conditions to be to remain efficient over the long term (Carnell, 1999). According to France, Harrington and Marguire (1987), improving an organization effectiveness has important consequences for its overall corporate performan ce. Despite the available of a number of models to aid the successful diagnosis and implementation of change effort, Beer and Nohria (2000,p.88) claims that 70% of all changes initiates fail because managers immerse themselves in an alphabet soup of initiatives without fully understanding the nature and process of corporate change. Therefore there is organization growth is very much important to understand how changes occur so that they can better manage the change process to improve their organizational effectiveness. Rationale of Research The benefits of this importance of this research help us to understand the impact of change management. Merger and acquisition are very much frequent nowadays. Everyone passes Merger and acquisition either themselves working in an organization or someone who is working or owning shares in the firm or merged with another organization. When firms merges between two organizations under takes changes. This change can be in positive or may be the other side of suffering. This motives has been studies previously in the financial sectors, however it frequently linked with the acquisition and merging process. Based on a literature review it has been said that there are two main types of motives for mergers and acquisition. First motive reason is the financial reason, such as increasing the overall performance and creating value for shareholder. Second reason is the non value maximizing managerially based motive. Recently due the economic situation, cross borders Mergers and Acquisition activities have risen significantly. Countries in the Europe are very much involved in the Mergers and Acquisition market. The acquisition motive is therefore often linked to acquisition and integration strategies and outcome in the research. Hence it is important to know and understand the process of acquisitions and help to make it more effective in order to gain extra benefits arising of it. Mainly to review the different kinds of product and processes these two companies has and find the positives for a final decision. This research explains the impact of project management merging acquisition between GE Money and Banco Santander. This comparison review answers the importance of integration process in making the acquisition more effective. Limitation of Research When analysis the Acquisition project we need to remember one key fact that the process actually is long drawn out and can take months or years to be completed. The organizational change takes places and this can be sure when the change will be effective for the organizations. Hence due to time constraints, it was not possible for this study to look at any particular Acquisition deal across its lifecycle. To analyse this research I have relied on information got through sources like, management team meeting, financial books and reports. CHAPTER 2 AIMS AND OBJECTIVES Aim The aim of the research to find out the impact of project management on mergers and acquisitions. This aim is to organize and review the relevant literature on organizational change. Objectives Primary To study the impact of Project management on Mergers and Acquisitions. Secondary To understand the importance of Project management on Mergers and Acquisition. To understand the importance of the integration in the Acquisition. To study the importance and need of Project management tools and techniques on the process of Integration. To analyse the success on implementation of Project management approach in mergers and acquisitions. CHAPTER 3 OUTLINE OF RESEARCH LITERATURE REVIEW 3.1 Definition of Mergers and Acquisition Many authors have explained and written several definitions about merging and acquisitions, some of them are mentioned below. According to Joseph (2008), Change management is a loosely defined term that refers to a broad array of activities and initiatives that occurs in the workplace. As such in order of effective, a change management program must integrate those programs elements that address any of the variety of elements, communication, training, testing, program planning, market analysis and implementation of new policies and procedures. According to Gaughan (1996), à ¢Ã¢â€š ¬Ã…“A merger is a combination of two corporations in which only one corporation survives and the merged corporation goes out of existenceà ¢Ã¢â€š ¬?. (1). He explained that according to merger the acquiring company assumes the assets and liabilities of the merged company. A statutory merger differs from a subsidiary merger, which is a merger of two companies in which the target company becomes a subsidiary or part of a subsidiary of the parent company. Gaughan also states that a merger differs from a consolidation which is a business combination where two or more company joins to form a new company. In this all combining companies get dissolved and new company is formed. For E.g.: There are two companies. Company A and Company B, where B is merged with A. In a consolidation (Company A + Company B = Company C). In this Company C is entirely a new company. There are differences between the terms merger and acquisition, however many terms between mergers and acquisition are interchangeable. According to Sudarsanam (2003), à ¢Ã¢â€š ¬Ã…“In a merger, the corporations come together to combine and share their resources to achieve common objectives. The shareholders of the combining firms often remain as joint owners of the combined entity.à ¢Ã¢â€š ¬? (2) Pearson (1989), An acquisition profile is a written documentation of description of the importance features required in a company to be acquired. This profile is a valuable aid and should be signed off by the senior management team (Board of Directors), to authorise work to proceed. Both the companies are adequate to give a description which will focus the search for the suitable companies, which means that the company which fall out of the acquisition profile will be rejected with a minimum of time and effort. (3) According to Sudarsanam (2003), à ¢Ã¢â€š ¬Ã…“An acquisition resembles more of an arms length deal, with one firm purchasing the assets or shares of another, and with the acquired firms shareholders ceasing to be owners of that firm.à ¢Ã¢â€š ¬? 3.2 Types of Mergers Merger and Acquisition is depends on the particular company to which it target company is acquired. An organization or company will try to merge or acquire only when it has come to a stage of expand its operation to make it growth internal strength. The company aims to have its position stabilized under business growth, finance, and be a leader in the market. According to Neirinckx (1999) he explains this in detail three types of mergers and acquisition. 3.2.1 Horizontal Mergers Acquisition The best acquisition of this type tends to be companies, which have a high quality product line and are trading in market where the acquirer is also present. The horizontal acquisition allows rationalism and thus allows an improved cash flow. Horizontal acquisition are however not a guarantee for success. One of the variables which need to be considered whether one major acquisition is desirable or whether a series of smaller ones is preferred. Sequential acquisition of smaller companies tend to be more successful because the digestion of a very large acquisition is complex and entails a lot of dangers, such as integrating two potential different cultures into one. The main reason of these mergers in to obtain economy in sales production. These mergers results in reduce of firms in an industry, due to which such mergers types becomes easier for the industry to join together for monopoly gain or profit. Example: In 1998 Merging and acquisition which took place Exxon and Mobil which can be considered as a typical example for horizontal mergers and acquisition 3.2.2 Vertical Mergers Acquisition A company proceed in a vertical merger when its usually seeks to merger with another company to takeover another company especially to expand its operations by the process of integration. Organizations integrate vertically between different stages due to reasons like improves planning for inventory and production, technological economies, reconciliation of divergent interests of parties to a transaction, elimination of transaction costs, etc. Vertical acquisition have a very bad reputation and while many companies are actually reducing their vertical integration. Example: In 1993 a Merging and acquisition took place between Merck and Medco in the pharmaceutical Industry. 3.2.3 Concentric Mergers Acquisition According to Neirinckx, à ¢Ã¢â€š ¬Ã…“Typically this means the acquisition of companies in business areas which are connected to the core business.à ¢Ã¢â€š ¬? This happens when the company feels strong in its basis of technologies distribution or marketing. Companies engage in concentric merging and acquisition tends to make a limited line of products and are very strong in one of the business segments. This happens in slow growing firms and is being used by companies which occupy a rather narrow segment of a widely spread firm and took for higher profit margin in other firms. 3.2.4 Conglomerate Mergers Acquisition à ¢Ã¢â€š ¬Ã…“Conglomerates are group of companies that operate in widely diverse industry.à ¢Ã¢â€š ¬? (Coyle, 2000 p 22). According to John C. Narver à ¢Ã¢â€š ¬Ã…“The definitions of conglomerate mergers in the report referred to little or no discernible relationship between acquiring and acquired firm.à ¢Ã¢â€š ¬? According Guaghan (1996 p. 7), à ¢Ã¢â€š ¬Ã…“A conglomerate merger occurs when the companies are not competitors and do not have a buyer- seller relationship.à ¢Ã¢â€š ¬? This conglomerate mergers Acquisition can be distinguished between two types. Financial Conglomerates Managerial Conglomerates 3.3 Motives of Mergers According to Hilda, (2000), the motives behind mergers are complex. Freidrich Trautwein was one of the researchers to attempt to make sense of the various theories extended to explain the allure of mergers. Freidrich Trautwein identified seven theories and looking at examples of organizations espousing that motive, investigated evidence of that motive and plausibility of the theory. The theories Freidrich Trautwein examined were:- Efficiency Monopoly Valuation Empire Building Process Raider Disturbance Stephen Wernet and Sandra Jones suggest that there is a difference in motive between for profit and non- profit companies. In the profit sector mergers are understood from the perspective of the purchaser not the acquired firm, and occur as a strategy for growth and expansion. In the nonprofit sector, resource scarcity and environmental uncertainty motivate mergers. 3.4 Defining an Acquisition Profile Acquisition profile needs to be described with quantitative and qualitative features which are very much important to the acquiring company. Pearson (1989) explains the content of an acquisition profile must have a description of the acquisition project. The profile has been explained below according to him. (4) 3.2.1 Market segment, Product and Services 3.2.2 Commercial Rationale 3.2.3 Maximum Cash Available For Acquisition 3.2.4 Maximum Total Purchase consideration 3.2.5 Minimum Size 3.2.6 Minimum Profitability 3.2.7 Management Style 3.2.8 Location 3.2.9 Key Requirements for Success 3.2.10 Financial Returns to be achieved 3.5 Overseas Acquisition Overseas acquisition is not as normal as acquisition of companies within the same countries. Lets study the more about overseas acquisition. Pearson, (1989). à ¢Ã¢â€š ¬Ã…“Acquiring a company overseas needs proper research and analysis at the outset. It could prove to be an expensive ego trip. An overseas acquisition should be demonstrably relevant to defined corporate objectives and strategyà ¢Ã¢â€š ¬?. If there is a depression in the home market, however the same business may find growth in the overseas market. Overseas growth may provide the opportunity to develop the business. According to Pearson, Politically a business which is multinational is less vulnerable to threats such as nationalization. There are risks involved the overseas acquisition such as customer resistance to overseas owned companies, different culture, language difficulties and local regulation rule. It is important that the acquiring company need to examine where to extend it business and also selecting the country under business development and profitability. 3.6 Selecting the Country The country for acquisition must be chosen before an acquisition profile. This involves in market research and some key factors. According to Pearson, there are five key factors for selecting the country for acquisition. The key factors are mention and explained below in detail. 3.6.1 Political Stability 3.6.2 Cultural and Social Background 3.6.3 Economic Environment 3.6.4 Legal Requirement 3.6.5 Taxation and Repatriation of Funds 3.6.1 Political Stability The political stability depends on the payback time for an overseas investment. This is like setting up a company in the rented premises and then the packback period would be less than two years. For an acquisition the time period is much longer. There are political instability like civil unrest, national strike and local wars. Political stability for many countries will be ruled out on this factor. 3.6.2 Cultural and Social Background Pearson, (1989), à ¢Ã¢â€š ¬Ã…“It is important that the country accepts overseas ownership of business, a ownership the implications of capitalism involvedà ¢Ã¢â€š ¬?. Foreign investors are treated differently than home investors. In some countries they offer valuable incentives where as other side discriminate against foreign ownership. The education standard, communication and services need to be adequate to support the business and management style. The health and safety hazard need to checked. In some countries, its not safe for executives and family lifestyle due to many kidnapping and unacceptable threat of violence. Precautions and insurance for personal safety may be required. Business culture and ethics varies from country to country. In some countries it may be not possible to run the business effectively without paying bride to get things approved. 3.6.3 Economic Environment According to Pearson, the ideal country will combine the prospect of good growth in the relevant market sector and acceptable levels of inflation with a relatively stable currency. The economic growth in some country may be poor, however in some markets will still open doors for attractive investment opportunity. 3.6.4 Legal Requirements Government approval is required to complete an acquisition. Anti trust and monopoly issues legislation may exist. Local advisers are needed to complete a course to meet the legal requirement of the country. In acquisition there will be need to meet the local requirements and these are known as outset. Adding to Anti trust rules and regulations there will be exchange control regulation, Law of employment and other legal laws which is required. 3.6.5 Taxation and Repatriation of Funds Investment in an overseas acquisition need to be evaluated for net of taxes. Taxation rate, tariff, incentives double taxation agreement and withhold taxation must be taken in to account. Fund that are invested in the net of taxation, it is not necessary to achieve an acceptable rate of return. The rule for repatriation of profits and capital should provide adequate scope for funds movements. As per the above factor a satisfactory country should always be possible. It is very much important to check that enough suitable potential acquisition companies exist and the purchase price, company expectations are to be acceptable. 3.7 Reason for Merging and Acquisition According to Gaughan, there are several reasons and motives that firm might engage in merging and acquisition. Out of all motives and reason one of the main motives is expansion. Acquiring a company in a business line or geographic area where the company may want to expand can be quicker than internal expansion. Acquisition of a company may provide certain synergistic benefits for the acquirer, such as two lines of business complement one another. An acquisition can also be a part of diversification process that allows the company to move into a different line of business. When firms get engaged in merging and acquisition for the motive of expansion, the cite potential gain as one of the reason for the transaction. Financial factor motivates some merging and acquisition. For E.g., An acquirers financial analysis may reveal that the target is undervalued, which is the value of the buyer may be significantly in excess of the market value of the target. Even when a premium that is normally associated with changes in control is always added to the acquisition price. Apart from this tax motivation also plays a major role in acquisition. 3.8 Definition of Project Management According to James P Lewis, he defines project management as à ¢Ã¢â€š ¬Ã…“application of knowledge skills tools and techniques to project activities to meet project requirementà ¢Ã¢â€š ¬?. Project management is accomplished through the application and integration of the project management processes of initiating, planning , executing, monitoring, controlling and closing. According to Timothy J. Kloppenborg, Arthur Shriberg, Jayashree Venkatraman, à ¢Ã¢â€š ¬Ã…“A project is a temporaray endeavor undertaken to create a unique product or serviceà ¢Ã¢â€š ¬?. Project management is the application of skills, tools and techniques to project activities to meet project requirements, which in turns requires project management to understand to project objectives, limitations, lifecycle and roles of the participants. 3.9 What is Project Management? Project management is a set of principles, method, and techniques that people use to effectively plan and control project work. It established a sound basis for effective planning, scheduling, resourcing, decision-making, controlling and replanning. Project management principle and techniques help complete projects on scheduled, within budget and in full accordance with project specifications. At the same time, they help achieve the other goals of the organization, such as productivity, quality and cost effectiveness. The objective of project management is to optimize project cost, time and quality. 3.10 Importance of Project Management In this world many people become project with knowing the meaning of projects. Someone assign them to manage a project because of their areas of expertise, not because they have received any by accident, it will become a disaster. Learning project management skills can help you complete projects on time, on budgets and on targets. The discipline of project management includes proven strategies for clarifying projects objectives, avoiding serious errors of omissions and eliminating costly mistakes. It also addresses the necessary people skills for getting the cooperation, support and resource to get the job done. Project management is not just for project managers. Team members need to know how carry out their parts of the project and business executive need to understand how to support project management efforts in the organization. 3.11 Project Management Role According to Gary Heerkens, project success will depends on personality traits like honesty, tolerance for ambiguity and openness. However skills required to make a process to go smooth. Paying constant attention to communication, making sure that, the project sponsor and the team members are clear on boundaries and expectation, documenting the project process (task, responsibilities, and relationships) and understanding customer and business needs. There are three main project management skills which are mandatory to have to lead or be a part of a project. 3.11.1 Develop Process Management Skill Learn tools for coordinating the work of many people. Get comfortable dealing with managers on issues of expectations, cost, scheduled and resources. 3.11.2 Build Your Interpersonal Skill Project management is all about getting things done through other people. Work on written and oral communication skills. Learn how to negotiate and influence. Become a coach and mentor to your project members. 3.11.3 Build a Project Network In all likelihood, your project will involve issues that are beyond your own area expertise. You should educate yourself as much as possible about the work your organization does, but it also helps to make contacts with people from diverse areas of your company. CHAPTER 4 RESEARCH PLAN AND METHOD 4.1 Methodology The methodology part specify details about the research method design, which indicates the action plan which has been followed to carry out the research to find the impact of project management on mergers and acquisitions. The amount of information which are collected, along with the techniques are used for sampling the data collection method. This also includes the data collected by primary and secondary resource. Data analysis process or method and limitation of the research that impacts the study are also explained. 4.2 Research Design This research will help us to understand the impact of project management for mergers and acquisitions. It has become clear that several ways of doing things may have to be melded and compared before the aims can be fully met. Researches will need to be conducted on the impact on mergers and acquisition firms. We need to evaluate reliability and efficiency under real world conditions using various techniques. This data would be helpful in determine what steps does the organization takes when it comes to change between the organization in terms of mergers and acquisitions. This research will follow the methods of qualitative, inductive, deductive, experimental and empirical research methods. The chapter begins with the introduction, rationale of research, literature review followed by the aims and objectives of the research. Then the research approach, research design, data collection, survey design, data analysis and questionnaire design are discussed. The chapter ends with the outco mes and limitations of the research. This research will be followed as per the below step. Objectives Development Primary and Secondary Data Collection Questionnaire Preparation Design Sample Data Analysis Calculation Final Report This research was designed to achieve the objectives mentioned above. The below mention are the tool used for data collection. Data collection method, Sampling size, frame and technique. 4.3 Data Analysis The data is collected from the actual respondents, the next step in the research process is data analysis. The purpose of this analysis is to interpret and draw conclusions from the collected date. Here a four-step procedure is followed for data analysis. Editing. Coding. Data entry. Tabulation. 4.4 Research Planning First 2 weeks of February 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Collection of Literature Last 2 weeks of February 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Preparation of research methodology and preparation of questionnaire In First 2 weeks of March 2010 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Collection of primary/secondary data Last two weeks of March 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Critical analysis of data Last week of March 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Drawing a conclusion First weeks of April 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Drafting the final report Second weeks of April 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Final report documentation Graphical Representation for Research Planning à ¢Ã¢â€š ¬Ã¢â‚¬Å" This presentation shows that for the first two weeks will be required to collect the primary data. During this process it ensures that the researcher is equipped or has received the sufficient knowledge about the topic under research. This gained knowledge would help the researcher in his further course of the research. This is based on this literature review where the statement of the problem is explained. Based on statement of the problem, the exact research methodology is taken out and the questionnaire for primary data will be designed. After this the primary data collection begins, which takes longer time to complete about 3 weeks. At this stage the researcher (I) has to make sure that he receive the maximum or highest number of respondents. This process takes close to two weeks. Followed by this we have the most critical part of the research, which is the analysis of primary data and secondary data. To complete this analysis process it takes about two weeks. Once this analysis is completed accurately the researcher needs another week for writing the conclusion and result from the analysis, followed by another week for drafting and finalizing the report Based on the resources given, in terms of knowledge or skill of the researcher, and the time available for conducting the research with access to a wide range of relevant or accurate data and information, the above plan is the most feasible one for successfully conducting the research and obtaining results. CHAPTER 5 BIBLIOGRAPHY 5.1 Conclusion The conclusion of this research would give a clear picture of the successful acquisition and integration process and how Santander continues to grow in this business. 5.2 Bibliography This topic which I have chosen is an acquisition project between GE and Santander, with regards to the integration of product and processes of the two organizations. The content was taken from newspapers, journals, articles, internet, internal email and interviews. There will be few interviews taken under this topic, with the senior directors and manager in the organizations. I being an employee for Santander UK, and a lead member of an integration and migration project in the New Business Department, getting information will be easy as I have an authorization from my manager. During this research I have referred to many books, meeting with the senior management team, discussion with all required departments to deliver the integration with values. I hereby will confirm that the all information which will be taken will very much be mention as references and index on the final dissertation. Impact of Project Management on Mergers and Acquisition Impact of Project Management on Mergers and Acquisition In todays complex and competitive global business environment, organizations must adapt to changing environmental conditions by continuously initiating changes in order to remain competitive and profitable. These changes occurs when organizations undertake such changes as implementation new technologies, mergers or acquisition, downsizing, restructuring operations, and outsourcing. During these changes if companies implement programmes like six-sigma or business process improvement then according to Hayes(2002), these changes are usually prompted by a need to maintain or improve an organization effectiveness where effectiveness relates to the organizations ability to use recourse efficiently to achieve immediate goals as well as embracing the need to changing conditions to be to remain efficient over the long term (Carnell, 1999). According to France, Harrington and Marguire (1987), improving an organization effectiveness has important consequences for its overall corporate performan ce. Despite the available of a number of models to aid the successful diagnosis and implementation of change effort, Beer and Nohria (2000,p.88) claims that 70% of all changes initiates fail because managers immerse themselves in an alphabet soup of initiatives without fully understanding the nature and process of corporate change. Therefore there is organization growth is very much important to understand how changes occur so that they can better manage the change process to improve their organizational effectiveness. Rationale of Research The benefits of this importance of this research help us to understand the impact of change management. Merger and acquisition are very much frequent nowadays. Everyone passes Merger and acquisition either themselves working in an organization or someone who is working or owning shares in the firm or merged with another organization. When firms merges between two organizations under takes changes. This change can be in positive or may be the other side of suffering. This motives has been studies previously in the financial sectors, however it frequently linked with the acquisition and merging process. Based on a literature review it has been said that there are two main types of motives for mergers and acquisition. First motive reason is the financial reason, such as increasing the overall performance and creating value for shareholder. Second reason is the non value maximizing managerially based motive. Recently due the economic situation, cross borders Mergers and Acquisition activities have risen significantly. Countries in the Europe are very much involved in the Mergers and Acquisition market. The acquisition motive is therefore often linked to acquisition and integration strategies and outcome in the research. Hence it is important to know and understand the process of acquisitions and help to make it more effective in order to gain extra benefits arising of it. Mainly to review the different kinds of product and processes these two companies has and find the positives for a final decision. This research explains the impact of project management merging acquisition between GE Money and Banco Santander. This comparison review answers the importance of integration process in making the acquisition more effective. Limitation of Research When analysis the Acquisition project we need to remember one key fact that the process actually is long drawn out and can take months or years to be completed. The organizational change takes places and this can be sure when the change will be effective for the organizations. Hence due to time constraints, it was not possible for this study to look at any particular Acquisition deal across its lifecycle. To analyse this research I have relied on information got through sources like, management team meeting, financial books and reports. CHAPTER 2 AIMS AND OBJECTIVES Aim The aim of the research to find out the impact of project management on mergers and acquisitions. This aim is to organize and review the relevant literature on organizational change. Objectives Primary To study the impact of Project management on Mergers and Acquisitions. Secondary To understand the importance of Project management on Mergers and Acquisition. To understand the importance of the integration in the Acquisition. To study the importance and need of Project management tools and techniques on the process of Integration. To analyse the success on implementation of Project management approach in mergers and acquisitions. CHAPTER 3 OUTLINE OF RESEARCH LITERATURE REVIEW 3.1 Definition of Mergers and Acquisition Many authors have explained and written several definitions about merging and acquisitions, some of them are mentioned below. According to Joseph (2008), Change management is a loosely defined term that refers to a broad array of activities and initiatives that occurs in the workplace. As such in order of effective, a change management program must integrate those programs elements that address any of the variety of elements, communication, training, testing, program planning, market analysis and implementation of new policies and procedures. According to Gaughan (1996), à ¢Ã¢â€š ¬Ã…“A merger is a combination of two corporations in which only one corporation survives and the merged corporation goes out of existenceà ¢Ã¢â€š ¬?. (1). He explained that according to merger the acquiring company assumes the assets and liabilities of the merged company. A statutory merger differs from a subsidiary merger, which is a merger of two companies in which the target company becomes a subsidiary or part of a subsidiary of the parent company. Gaughan also states that a merger differs from a consolidation which is a business combination where two or more company joins to form a new company. In this all combining companies get dissolved and new company is formed. For E.g.: There are two companies. Company A and Company B, where B is merged with A. In a consolidation (Company A + Company B = Company C). In this Company C is entirely a new company. There are differences between the terms merger and acquisition, however many terms between mergers and acquisition are interchangeable. According to Sudarsanam (2003), à ¢Ã¢â€š ¬Ã…“In a merger, the corporations come together to combine and share their resources to achieve common objectives. The shareholders of the combining firms often remain as joint owners of the combined entity.à ¢Ã¢â€š ¬? (2) Pearson (1989), An acquisition profile is a written documentation of description of the importance features required in a company to be acquired. This profile is a valuable aid and should be signed off by the senior management team (Board of Directors), to authorise work to proceed. Both the companies are adequate to give a description which will focus the search for the suitable companies, which means that the company which fall out of the acquisition profile will be rejected with a minimum of time and effort. (3) According to Sudarsanam (2003), à ¢Ã¢â€š ¬Ã…“An acquisition resembles more of an arms length deal, with one firm purchasing the assets or shares of another, and with the acquired firms shareholders ceasing to be owners of that firm.à ¢Ã¢â€š ¬? 3.2 Types of Mergers Merger and Acquisition is depends on the particular company to which it target company is acquired. An organization or company will try to merge or acquire only when it has come to a stage of expand its operation to make it growth internal strength. The company aims to have its position stabilized under business growth, finance, and be a leader in the market. According to Neirinckx (1999) he explains this in detail three types of mergers and acquisition. 3.2.1 Horizontal Mergers Acquisition The best acquisition of this type tends to be companies, which have a high quality product line and are trading in market where the acquirer is also present. The horizontal acquisition allows rationalism and thus allows an improved cash flow. Horizontal acquisition are however not a guarantee for success. One of the variables which need to be considered whether one major acquisition is desirable or whether a series of smaller ones is preferred. Sequential acquisition of smaller companies tend to be more successful because the digestion of a very large acquisition is complex and entails a lot of dangers, such as integrating two potential different cultures into one. The main reason of these mergers in to obtain economy in sales production. These mergers results in reduce of firms in an industry, due to which such mergers types becomes easier for the industry to join together for monopoly gain or profit. Example: In 1998 Merging and acquisition which took place Exxon and Mobil which can be considered as a typical example for horizontal mergers and acquisition 3.2.2 Vertical Mergers Acquisition A company proceed in a vertical merger when its usually seeks to merger with another company to takeover another company especially to expand its operations by the process of integration. Organizations integrate vertically between different stages due to reasons like improves planning for inventory and production, technological economies, reconciliation of divergent interests of parties to a transaction, elimination of transaction costs, etc. Vertical acquisition have a very bad reputation and while many companies are actually reducing their vertical integration. Example: In 1993 a Merging and acquisition took place between Merck and Medco in the pharmaceutical Industry. 3.2.3 Concentric Mergers Acquisition According to Neirinckx, à ¢Ã¢â€š ¬Ã…“Typically this means the acquisition of companies in business areas which are connected to the core business.à ¢Ã¢â€š ¬? This happens when the company feels strong in its basis of technologies distribution or marketing. Companies engage in concentric merging and acquisition tends to make a limited line of products and are very strong in one of the business segments. This happens in slow growing firms and is being used by companies which occupy a rather narrow segment of a widely spread firm and took for higher profit margin in other firms. 3.2.4 Conglomerate Mergers Acquisition à ¢Ã¢â€š ¬Ã…“Conglomerates are group of companies that operate in widely diverse industry.à ¢Ã¢â€š ¬? (Coyle, 2000 p 22). According to John C. Narver à ¢Ã¢â€š ¬Ã…“The definitions of conglomerate mergers in the report referred to little or no discernible relationship between acquiring and acquired firm.à ¢Ã¢â€š ¬? According Guaghan (1996 p. 7), à ¢Ã¢â€š ¬Ã…“A conglomerate merger occurs when the companies are not competitors and do not have a buyer- seller relationship.à ¢Ã¢â€š ¬? This conglomerate mergers Acquisition can be distinguished between two types. Financial Conglomerates Managerial Conglomerates 3.3 Motives of Mergers According to Hilda, (2000), the motives behind mergers are complex. Freidrich Trautwein was one of the researchers to attempt to make sense of the various theories extended to explain the allure of mergers. Freidrich Trautwein identified seven theories and looking at examples of organizations espousing that motive, investigated evidence of that motive and plausibility of the theory. The theories Freidrich Trautwein examined were:- Efficiency Monopoly Valuation Empire Building Process Raider Disturbance Stephen Wernet and Sandra Jones suggest that there is a difference in motive between for profit and non- profit companies. In the profit sector mergers are understood from the perspective of the purchaser not the acquired firm, and occur as a strategy for growth and expansion. In the nonprofit sector, resource scarcity and environmental uncertainty motivate mergers. 3.4 Defining an Acquisition Profile Acquisition profile needs to be described with quantitative and qualitative features which are very much important to the acquiring company. Pearson (1989) explains the content of an acquisition profile must have a description of the acquisition project. The profile has been explained below according to him. (4) 3.2.1 Market segment, Product and Services 3.2.2 Commercial Rationale 3.2.3 Maximum Cash Available For Acquisition 3.2.4 Maximum Total Purchase consideration 3.2.5 Minimum Size 3.2.6 Minimum Profitability 3.2.7 Management Style 3.2.8 Location 3.2.9 Key Requirements for Success 3.2.10 Financial Returns to be achieved 3.5 Overseas Acquisition Overseas acquisition is not as normal as acquisition of companies within the same countries. Lets study the more about overseas acquisition. Pearson, (1989). à ¢Ã¢â€š ¬Ã…“Acquiring a company overseas needs proper research and analysis at the outset. It could prove to be an expensive ego trip. An overseas acquisition should be demonstrably relevant to defined corporate objectives and strategyà ¢Ã¢â€š ¬?. If there is a depression in the home market, however the same business may find growth in the overseas market. Overseas growth may provide the opportunity to develop the business. According to Pearson, Politically a business which is multinational is less vulnerable to threats such as nationalization. There are risks involved the overseas acquisition such as customer resistance to overseas owned companies, different culture, language difficulties and local regulation rule. It is important that the acquiring company need to examine where to extend it business and also selecting the country under business development and profitability. 3.6 Selecting the Country The country for acquisition must be chosen before an acquisition profile. This involves in market research and some key factors. According to Pearson, there are five key factors for selecting the country for acquisition. The key factors are mention and explained below in detail. 3.6.1 Political Stability 3.6.2 Cultural and Social Background 3.6.3 Economic Environment 3.6.4 Legal Requirement 3.6.5 Taxation and Repatriation of Funds 3.6.1 Political Stability The political stability depends on the payback time for an overseas investment. This is like setting up a company in the rented premises and then the packback period would be less than two years. For an acquisition the time period is much longer. There are political instability like civil unrest, national strike and local wars. Political stability for many countries will be ruled out on this factor. 3.6.2 Cultural and Social Background Pearson, (1989), à ¢Ã¢â€š ¬Ã…“It is important that the country accepts overseas ownership of business, a ownership the implications of capitalism involvedà ¢Ã¢â€š ¬?. Foreign investors are treated differently than home investors. In some countries they offer valuable incentives where as other side discriminate against foreign ownership. The education standard, communication and services need to be adequate to support the business and management style. The health and safety hazard need to checked. In some countries, its not safe for executives and family lifestyle due to many kidnapping and unacceptable threat of violence. Precautions and insurance for personal safety may be required. Business culture and ethics varies from country to country. In some countries it may be not possible to run the business effectively without paying bride to get things approved. 3.6.3 Economic Environment According to Pearson, the ideal country will combine the prospect of good growth in the relevant market sector and acceptable levels of inflation with a relatively stable currency. The economic growth in some country may be poor, however in some markets will still open doors for attractive investment opportunity. 3.6.4 Legal Requirements Government approval is required to complete an acquisition. Anti trust and monopoly issues legislation may exist. Local advisers are needed to complete a course to meet the legal requirement of the country. In acquisition there will be need to meet the local requirements and these are known as outset. Adding to Anti trust rules and regulations there will be exchange control regulation, Law of employment and other legal laws which is required. 3.6.5 Taxation and Repatriation of Funds Investment in an overseas acquisition need to be evaluated for net of taxes. Taxation rate, tariff, incentives double taxation agreement and withhold taxation must be taken in to account. Fund that are invested in the net of taxation, it is not necessary to achieve an acceptable rate of return. The rule for repatriation of profits and capital should provide adequate scope for funds movements. As per the above factor a satisfactory country should always be possible. It is very much important to check that enough suitable potential acquisition companies exist and the purchase price, company expectations are to be acceptable. 3.7 Reason for Merging and Acquisition According to Gaughan, there are several reasons and motives that firm might engage in merging and acquisition. Out of all motives and reason one of the main motives is expansion. Acquiring a company in a business line or geographic area where the company may want to expand can be quicker than internal expansion. Acquisition of a company may provide certain synergistic benefits for the acquirer, such as two lines of business complement one another. An acquisition can also be a part of diversification process that allows the company to move into a different line of business. When firms get engaged in merging and acquisition for the motive of expansion, the cite potential gain as one of the reason for the transaction. Financial factor motivates some merging and acquisition. For E.g., An acquirers financial analysis may reveal that the target is undervalued, which is the value of the buyer may be significantly in excess of the market value of the target. Even when a premium that is normally associated with changes in control is always added to the acquisition price. Apart from this tax motivation also plays a major role in acquisition. 3.8 Definition of Project Management According to James P Lewis, he defines project management as à ¢Ã¢â€š ¬Ã…“application of knowledge skills tools and techniques to project activities to meet project requirementà ¢Ã¢â€š ¬?. Project management is accomplished through the application and integration of the project management processes of initiating, planning , executing, monitoring, controlling and closing. According to Timothy J. Kloppenborg, Arthur Shriberg, Jayashree Venkatraman, à ¢Ã¢â€š ¬Ã…“A project is a temporaray endeavor undertaken to create a unique product or serviceà ¢Ã¢â€š ¬?. Project management is the application of skills, tools and techniques to project activities to meet project requirements, which in turns requires project management to understand to project objectives, limitations, lifecycle and roles of the participants. 3.9 What is Project Management? Project management is a set of principles, method, and techniques that people use to effectively plan and control project work. It established a sound basis for effective planning, scheduling, resourcing, decision-making, controlling and replanning. Project management principle and techniques help complete projects on scheduled, within budget and in full accordance with project specifications. At the same time, they help achieve the other goals of the organization, such as productivity, quality and cost effectiveness. The objective of project management is to optimize project cost, time and quality. 3.10 Importance of Project Management In this world many people become project with knowing the meaning of projects. Someone assign them to manage a project because of their areas of expertise, not because they have received any by accident, it will become a disaster. Learning project management skills can help you complete projects on time, on budgets and on targets. The discipline of project management includes proven strategies for clarifying projects objectives, avoiding serious errors of omissions and eliminating costly mistakes. It also addresses the necessary people skills for getting the cooperation, support and resource to get the job done. Project management is not just for project managers. Team members need to know how carry out their parts of the project and business executive need to understand how to support project management efforts in the organization. 3.11 Project Management Role According to Gary Heerkens, project success will depends on personality traits like honesty, tolerance for ambiguity and openness. However skills required to make a process to go smooth. Paying constant attention to communication, making sure that, the project sponsor and the team members are clear on boundaries and expectation, documenting the project process (task, responsibilities, and relationships) and understanding customer and business needs. There are three main project management skills which are mandatory to have to lead or be a part of a project. 3.11.1 Develop Process Management Skill Learn tools for coordinating the work of many people. Get comfortable dealing with managers on issues of expectations, cost, scheduled and resources. 3.11.2 Build Your Interpersonal Skill Project management is all about getting things done through other people. Work on written and oral communication skills. Learn how to negotiate and influence. Become a coach and mentor to your project members. 3.11.3 Build a Project Network In all likelihood, your project will involve issues that are beyond your own area expertise. You should educate yourself as much as possible about the work your organization does, but it also helps to make contacts with people from diverse areas of your company. CHAPTER 4 RESEARCH PLAN AND METHOD 4.1 Methodology The methodology part specify details about the research method design, which indicates the action plan which has been followed to carry out the research to find the impact of project management on mergers and acquisitions. The amount of information which are collected, along with the techniques are used for sampling the data collection method. This also includes the data collected by primary and secondary resource. Data analysis process or method and limitation of the research that impacts the study are also explained. 4.2 Research Design This research will help us to understand the impact of project management for mergers and acquisitions. It has become clear that several ways of doing things may have to be melded and compared before the aims can be fully met. Researches will need to be conducted on the impact on mergers and acquisition firms. We need to evaluate reliability and efficiency under real world conditions using various techniques. This data would be helpful in determine what steps does the organization takes when it comes to change between the organization in terms of mergers and acquisitions. This research will follow the methods of qualitative, inductive, deductive, experimental and empirical research methods. The chapter begins with the introduction, rationale of research, literature review followed by the aims and objectives of the research. Then the research approach, research design, data collection, survey design, data analysis and questionnaire design are discussed. The chapter ends with the outco mes and limitations of the research. This research will be followed as per the below step. Objectives Development Primary and Secondary Data Collection Questionnaire Preparation Design Sample Data Analysis Calculation Final Report This research was designed to achieve the objectives mentioned above. The below mention are the tool used for data collection. Data collection method, Sampling size, frame and technique. 4.3 Data Analysis The data is collected from the actual respondents, the next step in the research process is data analysis. The purpose of this analysis is to interpret and draw conclusions from the collected date. Here a four-step procedure is followed for data analysis. Editing. Coding. Data entry. Tabulation. 4.4 Research Planning First 2 weeks of February 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Collection of Literature Last 2 weeks of February 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Preparation of research methodology and preparation of questionnaire In First 2 weeks of March 2010 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Collection of primary/secondary data Last two weeks of March 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Critical analysis of data Last week of March 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Drawing a conclusion First weeks of April 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Drafting the final report Second weeks of April 2011 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Final report documentation Graphical Representation for Research Planning à ¢Ã¢â€š ¬Ã¢â‚¬Å" This presentation shows that for the first two weeks will be required to collect the primary data. During this process it ensures that the researcher is equipped or has received the sufficient knowledge about the topic under research. This gained knowledge would help the researcher in his further course of the research. This is based on this literature review where the statement of the problem is explained. Based on statement of the problem, the exact research methodology is taken out and the questionnaire for primary data will be designed. After this the primary data collection begins, which takes longer time to complete about 3 weeks. At this stage the researcher (I) has to make sure that he receive the maximum or highest number of respondents. This process takes close to two weeks. Followed by this we have the most critical part of the research, which is the analysis of primary data and secondary data. To complete this analysis process it takes about two weeks. Once this analysis is completed accurately the researcher needs another week for writing the conclusion and result from the analysis, followed by another week for drafting and finalizing the report Based on the resources given, in terms of knowledge or skill of the researcher, and the time available for conducting the research with access to a wide range of relevant or accurate data and information, the above plan is the most feasible one for successfully conducting the research and obtaining results. CHAPTER 5 BIBLIOGRAPHY 5.1 Conclusion The conclusion of this research would give a clear picture of the successful acquisition and integration process and how Santander continues to grow in this business. 5.2 Bibliography This topic which I have chosen is an acquisition project between GE and Santander, with regards to the integration of product and processes of the two organizations. The content was taken from newspapers, journals, articles, internet, internal email and interviews. There will be few interviews taken under this topic, with the senior directors and manager in the organizations. I being an employee for Santander UK, and a lead member of an integration and migration project in the New Business Department, getting information will be easy as I have an authorization from my manager. During this research I have referred to many books, meeting with the senior management team, discussion with all required departments to deliver the integration with values. I hereby will confirm that the all information which will be taken will very much be mention as references and index on the final dissertation.