Cross Border And Domestic Mergers And Acquisitions Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2768 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? In todays globalised economy, mergers and acquisitions are being increasingly used in the world over for improving competitiveness, of companies through gaining greater market share, broadening the portfolio to reduce business risk and for entering new markets and geographies and achieving economies of scale. The Purpose of the research paper is to examine the reason why a firm is more likely to be a foreign target than a domestic target with respect to India. This paper examines the characteristics of a firm like technology, market share, size etc which make it attractive to foreign investors or domestic investors. The paper directly compares the characteristics of the cross border targets and domestic targets Indian firms over the period 2000-2006. Don’t waste time! Our writers will create an original "Cross Border And Domestic Mergers And Acquisitions Finance Essay" essay for you Create order The economic liberalization and reforms initiated in 1991 have served to trigger corporate restructuring through MA. The increased competition prompted the Indian companies to opt for mergers and acquisitions as a strategic corporate choice. The trends of mergers and acquisitions in india have changed over years. Favourable government policy, additional liquidity in the corporate sector, optimism in the economic growth and dynamic and motivated attitudes of Indian entrepreneurs are the key factors behind the changing trends in the pattern of mergers and acquisitions in India. Also, the effects of mergers and acquisitions have been diverse across various sectors of the Indian economy. Among the different Indian sectors that have resorted to mergers and acquisitions in recent times- Telecom, FMCG,finance automobile industry, and steel industry and real estate are worth mentioning. India is now one of the leading nations in the world in terms of mergers and acquisitions. Research Objectives- Characteristics of firms that become potential MA targets Risks and opportunities associated with domestic MA Risks and opportunities associated with cross-border MA Firms objectives guiding domestic or cross-border MA Domestic MA vis a vis Cross border MA in being able to fulfil a firms desired objectives The premerger and post merger performance of acquirer firms: Domestic and Foreign LITERATURE REVIEW Mergers and acquisitions as a subject has been a topic of interest amongst the circles of financial research. In recent history numerous literature and papers have been researched on the impact of MA on corporate consolidation and several theories have been proposed to understand the empirical evaluation of such impacts. USA and Several European markets were researched by several researchers to evaluate the corporate performance of the organizations followed by mergers and acquisitions. Several such researchers have showed that the main reason for the better performance of the acquiring firms have been due to several operational and technical synergies between the acquiring firm and the acquired firm. Hall(1988), stated that higher the RD expenditures, greater is the probability of being acquired with respect to U.S firms. According to Jensen(1983), and acquirers motives have been classified into four categories: Distribution Costs Gain market power Financial motivations Eliminate inefificient Target Management(acquiring firms intent) Lubatkin(1983) has identified three possible sources of strategic relation between the target firms and the acquiring firms , that could be treated as motives for mergers Pecuniary economies (achieved through dictating prices i.e lower prices for inputs in large quantities by exerting market power) technical economies (scale economies through improving process efficiencies) diversification economies (improving a firms performance by managing the existing portfolio of business). Palepu (1986) employs logit analysis to investigate the usefulness of six acquisition hypothesis in predicting targets likely to be acquired and found clear support for size hypothesis. The six dimensions were growth resource imbalance,inefficient management, asset undervaluation, price earning ratio and industry distuyance size 3.1Research on Post merger performance in India India has been a breeding ground for many deals in MA since the liberlasation in 1991.However the studies on MA activity in India have been so far limited. Beena(2004) observed the pre merger and post merger performance of a sample of 115 acquiring firms in the manufacturing sector in India between 1995-2000 using a set of financial ratios and t test. There was no improvement analysed in the financial ratios after the mergers. Kaur(2002) compared the pre merger and the post merger performance of 20 firms between 1997-2000 by making use of a set of eight financial ratios during a three year period before and after the merger, usint the t-test. It was observed that both the efficiency and profitability of the targeted companies declined in the post merger period and there was no change in the post takeover performance. Reasons of Indian companies entering into domestic MA activity- There are companies with sick subsidiaries and the only way out is to merge the sick unit with the parent company(Kumar and Rajib 2007) There are companies who seek to consolidate their core business activities to attain balance sheet size and net worth, in order to mount strategic takeovers of companies in similar business activities. Achieve synergy on theory operations(Kumar and Rajib 2007) Reasons of Foreign companies investing in India via MA- India is an emerging economy with booming population and growing middle class. The MNCs are ready to pay a premium to acquire existing businesses instead of setting up new companies. Thus, gaining quick access to Indian market. (Kumar and Rajib 2007) Market entry strategy by getting access to local knowledge and using local means to create and deliver the products and services. The above reasons can very well be explained by Dunnings Eclectic Theory of Framerwork which distinguishes four types of FDI- Resource seeking investment- relating to exploitation of cheap labour and mineral resources Market seeking investment- made to promote new or defend the existing markets Efficiency seeking investment- aims at rationalizing gains by optimizing intra division of laour and specialising existing portfolio of domestic and foreign assets Stategic Asset seeking investment=Augment the exisiting assets via mergers and acquisitions. According to Dunning: FDI =O+L+I The Ownership Advantages explain that the firms go abroad mainly to exploit specific advantages which are internal to the firm and it allows the firms to overcome the transaction and production costs in a foreign location (Griffin and Pustay, n.d.) The Location Advantages explain that MNEs choose the location by comparing each countrys attractiveness in terms of cultural, economic and social advantages(Griffin and Pustay, n.d.) The Internalization advantages explain the mode of entry of a firm in the foreign country. The MNE can either adopt licensing method or enter by having a wholly owned subsidiary and then determine how to successfully expand their operations over time (Griffin and Pustay,n.d.) 3.2 The characteristics of firms that make it an attractive MA target:- 1-Location hypothesis Apart from the firm specific characteristics that make it attractive, the fact that these firms are Indian- also plays a significant contributor to their being a coveted investment target. India being an attractive destination to invest in, lends profitability to the act of targeting Indian firms. (Georgopoulos,2008) 2-Market structure hypothesis Market share-market share bears a positive effect in explaining the likelihood of foreign acquisition(Georgopoulos,2008) Product differentiation- Non price competition through product differentiation based on advertising,attractive brand names and trademarks offers attractive opportunities to foreign players and thus cross border deals. Competitive industries with more homogeneous products report greater share of domestic acquisitions. Concentration- In a highly concentrated industry, market entry is more likely to be via international acquisitions, whereas in industries with low concentration, entry would be more likely by domestic acquisition. (Georgopoulos,2008) 3- Technology transfer hypothesis Technology transfer is regarded as a major motivation for foreign acquisitions (Harris and Ravenscraft(1991). Higher the RD expenditures, greater the possibility of being acquired by a foreign company rather than a domestic company. Also, market knowledge and local knowledge embedded in the operations of a firm are very valuable resources that an acquiring firm wishes to obtain. (Georgopoulos,2008) 4- Export orientation of targets Foreign investors search for export oriented targerts. Greenaway (1992) argued that dismantling of the non tariff barriers will stimulate FDI in specific locations elected to serve the foreign markets via exports. (Georgopoulos,2008) 5- Competitive nature of target Foreign firms are more likely to go for targets having both high competitiveness in industry and division of labor. (Georgopoulos,2008) 6- Import penetration of industry Foreign targets will penetrate in branches open international trade, showing high penetration index compared to domestic acquisitions. (Georgopoulos,2008) 7- Anti competition effects They are probably greater for domestic MA since there is more direct competition between merging firms. Since geographical proximity removes some barriers to trade, thus an incentive for anti competing measures. (Georgopoulos,2008) 8- Wages India offers cheap skilled labour. This attracts foreign investments in India. (Georgopoulos,2008) Apart from these general characteristics that guide acquisitions and investment , there are some very important theories that predominantly make a firm a potential acquisition target. 9-Inefficent management hypothesis- Chances of acquisition of an inefficiently managed or an underperforming firm is directly a function of potential gain that will accrue to the acquirer once the inefficient management is replaced. (Kumar and Rajib 2007) 10-Growth Resources Mismatch Hypothesis- Some firms have high growth, huge resources and low market valuation. This offers a golden opportunity to the acquiring firm who is correctly able to identify this mismatch. (Kumar and Rajib 2007) 11-Price earnings ratio Firms having higher price earnings ratio will purchase a firm with low price earnings ratio. This will increase earnings per share post merger even though there has been no real increase in earnings of assets. . (Kumar and Rajib 2007) 12- Management Hypothesis It states that the acquisitions will lead to improved performance if managers are able to maximize the value of corporate assets. i.e. the acquiring firms should have superior accounting and market performance compared to target firms. The yearly average stock returns are used as a basis of measuring the management performance. . (Kumar and Rajib 2007) 13- Size hypothesis- Larger Firms are less likely to become a takeover target since there are larger costs associated with incorporating it in the acquirer firms organizational and managerial structure. . (Kumar and Rajib 2007) 14- Asset Undervaluation hypothesis-(most imp) Merger motives can be attributed to the undervaluation of target companies. This hypothesis states that firms with low market to book ratio are undervalued and more likely to become takeover targets. Firms with low market-to-book ratios are viewed as undervalued and are potential takeover targets. The market-to book ratio is represented by P/B. . (Kumar and Rajib 2007) The research on MA activity in India has been limited. I will throw light on the driving forces behind international acquisitions and their interdependence with domestic acquisitions and the difference in the characteristics of a foreign and a domestic takeover target.I will also analyse the post merger performance of the Foreign and domestic acquirers and compare their post merger performance. Research Question Do cross border acquisitions of Indian target firms differ from that of domestic takeover targets? Does post merger performace of foreign acquirer firms differ from that of domestic performance? 4.RESEARCH METHODOLOGY According to Nicholas Steneck, research is a systematic investigation including research development, testing and evaluation, designed to develop or contribute to generalizable knowledge. When a research is conducted, it involves processes like planning, examining, and implementing the objectives to derive results. (Ghauri Gronhaug, 2005). A good research should have the apt logical reasoning and analysis in it. This wholly depends on the researcher. (Ghauri,2005). The methodology used in this thesis will explain the performance of the companies engaging in MA under both domestic and cross border scenario. This section of the thesis will first explain the research approach and strategy and then move towards explaining the data collection methods. Quantitative research encompasses measures to which a feature is present. It is often denoted by percentages, means, medians, standard deviations, chi square and other statistical figures. (Kirk and Miller 1986). 4.1 Sampling Identifying the target companies Sample size 130 companies will be taken for data analysis Sampling units -Target companies: Cross Border Deals in India and domestic deals in India. Sampling extent and time the time frame is post 2000. Sampling Classification- Since the size of Foreign and Domestic companies are substantially different , so to avoid the impact of their respective sizes on their post merger performance, a specific price range will be taken into account and only those samples which fall under this category from both foreign and domestic companies will be considered. 4.2 Methodology The research of this topic will be conducted using secondary data by quantitative method of research. Secondary data is a valuable source as it has a number of benefits. Primarily it saves both money and time, as well as it helps the researcher to better understand the research problem and broaden the basis for the conclusions.(Ghauri and Gronhaug 2002) To meet the desired objectives of this research, an empirical approach will be adopted whereby the post MA performance of firms both under domestic as well as cross border scenario will be analysed. To capture the relevance of current times, the analysis will be based on domestic and cross border acquisition post the year 2000. Mergers and Acquisitions are a fairly recent trend in India and have been resorted by corporate only after the rationalisation of policy reforms post 1991. There is negligible amount of Data in the early 1990s and hence there is a dearth of a data in that time frame. A representative sample of significant acquisitions will be taken from all the sectors of the Indian Economy. An equal number of cases will be taken from each sector under each scenario.Total number of samples assumed to be taken by the researcher are 130. The research is subjected to flexibility and with further research the samples might increase. Having arrived at our sample set, an analysis of post acquisition will be conducted. The analysis will be based on the listed companys financial data available. A comparative analysis of both scenarios will be done using paired t-test. Our null hypothesis will be a statement that there is no significant difference in post acquisition performance of domestic and cross border deals. Financial Ratios will also be used to arrive at the objective- Quick Ratio Current Ratio Total liabilities to shareholders Total assets Return on equity Return on Assets Torbins Q ratio Annual Growth to sales(GS) Annual Growth on assets(GA) OLCF- operating loss carry forward to total assets. According to Altman (1968), financial ratios were used to identify financially distressed firms. These ratios were characterisitics of firms and established their relationship to important dimensions such as liquidity, profitability and size. Harris, et al; (1982) examined two types of variables: financial and product, to capture the characteristics of a firm that determine whether the firm is being acquired or not and it was in the time period1974-1977. The study indicates that financial variables have statistical significance while product market variables have very little explanatory power. The study signifies that firms with lower price-earnings ratio and smaller size are more likely to be takeover targets. DATA COLLECTION: The secondary data will be collected from magazines, newspapers, journals and databases like Prowess Databases of Centre for Monitoring Indian Economy(CMIE), web sites of Securities and Exchange Board of India and Capitaline. DATA ANALYSIS: SPSS Software will be used to analyze the results from the data collected which will also help sample set which is not the entire population.providing insight into the post merger performance of the acquirer firms. EHTICAL PERSPECTIVES: As the obligation of a researcher, the data acquired shall not be tampered with. LIMITATIONS There are issues of relevance and accuracy of secondary data. The research uses secondary data that has been collected at a different point in time with a different objective and level of accuracy. The objectives, nature and methods used to collect secondary data may be subject to random errors. The learnings from the research are a generalization from the trend observed via the CONTRIBUTION TO KNOWLEDGE: The research paper will provide invaluable insights into mergers and acquisition as a potent tool used by several firms to achieve their desired objectives. A comparative analysis of the domestic and cross border scenario will give us a consolidated view of their respective ability and potential to positively impact the engaging firms. A macro level picture based on generalization from a sample set will delineate a picture of India s experience from domestic and cross-border MAs. Thus, the research paper even within its limitations will be able to reflect past performance and in turn give lessons for future decision making. Gantt Chart

Conflicts And Conflict Resolution Process - 1671 Words

Conflicts are inevitable in any human s’ interaction which makes their occurrence normal in the workplace. Conflict can be caused by imbalance of power and communication barriers that arise from the social structure or individual interpersonal’ perceptions, assumptions and expectations. The interpersonal conflict has a huge impact on the individual himself and extends to the workplace. The Human Resources (HR) role comes in light to attempt to help in the conflict resolution process. Human resources professionals take an integral part in facilitating and settling conflict situations. They consider the work environment and personal differences that have led to the conflict to arise. In the workplace, gender influences and permeates the†¦show more content†¦When the 3rd party is contacted, it means that the problem is recognized and one of the parties has made the initial move to seek conflict resolution (McNamara, 2003). The role of HR professional as a third pa rt is extensive. 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International Engineering Management †Free Samples for Students

Question: Explain International Engineering Management? Answer: Introduction TNA Pty. Ltd is the international leader in the food processing and packaging industry, which supplies solutions as well as a single system to all their customers worldwide. TNA business emphasizes on developing the innovative equipment for packaging. The consumer packaging industry is increasing or growing all over the world at the rapid pace, as economies of many countries have strengthened their buying power (Gillespie, Jeannet, and Hennessey 2009). Organized retail design and convenience packs will set the company apart. As the company is planning to expand in the various Asian market, it is important to analyse the market. To do so, five countries are selected such as India, China, Singapore, Japan, and Saudi Arabia. Benefits and challenges in these countries will be analysed so that it become easier for TNA to expand their business in these market. TNA had faced various challenges when they grew their business in different countries, which relates to lack of technical compatibility among the system of TNA and snack food packaging industry (Gillespie, Jeannet, Hennessey 2009). In this report, the best market will be selected for TNA, and by that recommendation will be provided, that relates to enhancing sales and marketing in these regions. Preliminary analysis Packing for the convenience- Big opportunities that have increased through the convenience trend is rapidly used in case of ready meals. Huge organizations having the technological strength like Uflex Ltd, retort purchase, MTR Foods, has created the high position in Indian market. The different technological development towards the ready meals in India has resulted in the development of shelf ready packs of the meal (Gillespie, Jeannet, Hennessey 2009). It is referred as the milestone of sorts, by applying the facility of the cold chain within the retail stores are again less. Through this increasing trend, the process of packaging is expected to increase through the technology ladder, like hot filling methods, a form-fill seal within the flexible packaging, and aseptic packaging. Managed retail design- through the shift in the old-fashioned retailing at small-scale to get organized at large stores, product manufacturers have tried to modernize the packs. For example, milk has changed from loosely sold towards the flexible plastic pillow packs, and currently, used as the premium liquid cartons (Gillespie, Jeannet, Hennessey 2009). Exploiting the flexibility- As the huge chunk of the Indian consumers, hold less purchasing power has continued to increase the demand for the less unit price; therefore, the small sized pack's prevalence are in the form of 1 to 10-gram sachets. It is noted that in India flexible packaging has successfully exploited on this trend, which gives them low cost (ADVANTAGE INDIA - CONSUMER GOODS PACKAGING TRENDS 2011). Disadvantages Import dependence- Around 80% of the material is mainly used in the packaging of cold type blister, and its imported. The requirement of new technology- In India, around 40% of the floriculture and horticulture is mainly wasted, due to the lack of cold chains and logistics. Nevertheless, the proper packaging can help in addressing the innovation through enhancing the shelf life of these items by modified atmosphere packaging. Mismatch of standards- BIS standards that are mainly used by the Indian packaging industry is not up to the standards set by the developed nations (ADVANTAGE INDIA - CONSUMER GOODS PACKAGING TRENDS 2011). Loss of export- Due to the relevant technology and mismatch of standard in food packaging, the export industry has suffered a lot. For instance, in the Middle East, the export of raw meat fail in earning the potential revenue, due to the lack of the services of value addition to packaging and processing (ADVANTAGE INDIA - CONSUMER GOODS PACKAGING TRENDS 2011). Malaysia Local players that continuously lead the sale of packaging- local companies hold the firm presence within the area. Packaging firms manufacture various pack types for the different categories, having few local manufacturers offering services like packaging, moulding, and labelling, to stay competitive (Malaysian Association of Standard Users 2013). The innovation of product by emphasizing over close improvement- in the year 2015, the product innovation has emphasized over close improvement. It is mainly prevalent in personal care and home care, in which enhanced closure is used for offering consumers with the safety features as well as added convenience. Demands of customers for the consistent product often drive the sales of massive pack format size are attaining momentum in the ongoing packaged food as well as beauty and personal care, in which sale hit through the sensitivity of consumer cost (Malaysian Association of Standard Users 2013). This trend was, later on, introduce around 6% of the goods and service tax in the year 2015, which drive the demand for the affordable items, Disadvantages As per the Malaysian investment development authority of 2012, the sector is highly dominated by the small and medium sized companies. Despite the key percentage as compared with the large-scale companies, they are highly insufficient in producing the logical volume of results and also face challenges in complying with the standards of food and hygiene (Talib, Ali and Idris 2013). Other emerging problems that has increased the concern is related to the food processing sector is highly efficient through the increase in overhead cost. Steps were taken for resolving the issues, food small and medium size companies primarily tend to react over the unplanned cutting of cost and even fail in viewing the significance of applying the sustainability acts in operation (Talib, Ali and Idris 2013). Failure in organizing the sustainability components like water and energy can potentially lead towards the increased overhead price of SME and come up with a negative effect on social and environment. The problems related to food hygiene as well as a lack of sustainability could be explored in the core design of the food industry. Surrounded by various issues, SME often tends towards overlooking or either ignoring the significance of referring the sustainability and hygiene at the time of designing (Talib, Ali and Idris 2013). Failure in making consideration helps in producing the factory design like various errors, which emerge as manufacturing issue, once the factory is constructed. Singapore Advantages The popularity of American convenience, as well as fast foods in the Singapore, favours the application of these existing chain system of procurement that can source the food ingredients from America. The food procedure of America are considered as the reliable source of huge volume and even hold consistent quality food items in the key food processors. American items are modern and correctly presented in the key supermarkets (Lamb, Hair and McDaniel 2010). American products are also considered as high quality. Singapore is the key regional hub for the agriculture and food re-export, mainly the processed food (Dong 2016). Disadvantages There is an increasing and ongoing trend in Singapore for the healthy eating. Whether it is justified or not, but the fast food is often related to the eating empty calories as well as junk food. In the case of meat processed food item, Singapore market face TBT, and SPS issues (Dong 2016). American food items are referred as costly, as compared with the similar type of products, from both the traditional and regional food supplying countries, such as European Union, Australia, and New Zealand. Singapore is price sensitive when the case comes to purchasing food items. The price sensitivity is offered by ASEAN countries and China for enhancing the Singapore market share (Dong 2016). The ASEAN Economic community was started in the year 2015; the primary goal is to transform the ASEAN in the single market as well as production base market for promoting the free trade movement and capital among the member state of ASEAN (Dong 2016). Singapore is the most competitive market. Competitive items are not so costly and are equally used as American products. Food ingredients coming from the regions has less cost, due to the free trade area of ASEAN (Dong 2016). The AFTA also cover common effective preferential tariff provision, for initiating the free flow of goods among member state. Japan Advantages It is predicted that the packaged food sale will continue to increase in the market of Japan, as customer continue to seek for the convenient food solutions amidst lifestyle and demographic changes. Along with this, manufacturers will also contribute towards sustaining the reduction in the category of the mature staple. Regarding sale, the largest packaged type of food in Japan is the chilled processed foods, such as chilled meats and chilled ready meals (Packaged Food Sales in Japan 2015). It also includes bakery products and dried processed foods, including instant noodle and rice. With the spread of eating habits of West among the customers, staples such as rice have continuously reduced in term of sale. It has negatively impacted the highest category within the dried processed food (Packaged Food Sales in Japan 2015). On the other side, ready to eat a meal, along with innovative, portable as well as convenient foods are creating headway. Disadvantages Japan is the third largest economy in the world after America and China. It is also considered as the important market for various global packaged food manufacturers. Along with that, Japan is considered as the fourth largest food importer of the world, which depends on other countries, for its 60% of the food (Packaged Food Sales in Japan 2015). At one side, the traditional taste and menu, primarily guide the average consumption habit of Japan, other Asian and western countries ethnic cuisine is making headway in the Japanese market. Nevertheless, high-end food, as well as beverage market of Japan, continues to come across many significant issues, which results from lasting anaemic growth of the economy and aging population (Packaged Food Sales in Japan 2015). These factors have accentuated the trends, which goes towards the healthy, functional, nutritious, as well as value for money items. Despite all these issues, consumers in Japan are interested in accepting the increased cost o f quality, convenience, and safety. The key supermarket chain within Japan is coming up with a large private label that is offering new as well as innovative food products (Packaged Food Sales in Japan 2015). Saudi Arabia Advantages The packed food market in Saudi Arabia is expected to increase by 2022, from the present position (Lee and Okos 2011). Factors that had contributed to the growth are, increase in the consumer convenience, an increase in the disposable consumer income, and change in consumer behaviour. Packaged food plays a significant role in the international food market (Saudi Arabia Canned Food Packaging Market 2017). Packaged food can be easily preserved for the months in a similar way to the actual form. Packaged food also continues to trend towards the little options in case of frozen meat and chilled food. While providing the benefits related with long shelf life as well as low price, packed food suffers from the poor perception of consumers about its quality and healthiness (Saudi Arabia Canned Food Packaging Market 2017). The food packaged at Saudi Arabia market is highly segmented according to the core material, like plastic, glass, metal and paper, and forms of the food product, like fruit s, readymade meals, seafood, and vegetables. Disadvantages Easy to use closures going good- in the context of increasing demand for the convenience, closures are providing easy resealing, closing as well as dispensing are viewing the excellent performance in Saudi Arabia. The rate of recycling is small- Due to little consumer awareness about the environmental problems in Saudi Arabia, the system of recycling is underdeveloped (Saudi Arabia Canned Food Packaging Market 2017). Huge range of pack and sizes are provided- there is a growing focus towards addressing the needs of consumers and demands in various areas of food packaging goods, and due to that consumers have become quite demanding (Aly and Baker 2013). There is an increasing emphasis on the packaging for the retailers shelf differentiation (Saudi Arabia Canned Food Packaging Market 2017). The same has resulted in various diverse trends of packaging, along with polarization of pack size that can be seen in areas like cat and dog food. Recommendation on which of these markets would provide the best option for TNA It is recommended that India and Singapore can prove to be the best market of TNA to expand its business. Below are the reasons for selecting these countries: India The Indian packaging industry is rapidly changing in the past three few years. From the time, when the items were sold mostly in losing packets, and pack closure is usually a struggle, the packaged and processing food industry has transformed, and rapidly shifted from losing towards the packaged food, and has even seen tremendous improvement in the quality of pack (Alam 2010). The increase in the income of consumers is also considered as the primary enabler, that has helped in empowering afford, as too costly, but with the high quality of the products. India has 393 billion containers, and the packaging market is also huge, which is calculated to present around 10% of the international market, in the context of unit volume (Heneghan 2016). It is also considered as one of the highest growing markets all over the world, which has increased by 11% between the years 2005-2010. India also enjoys flexible packaging, which is followed by the great packs of rigid plastic, paper, and glass. L iquid cartons and metals are relatively in less quantity and have viewed a rapid growth in past few years (Zain, Anas, Hassan, Lehar and Shamsuddin 2012). Singapore The retail sale value for the packaged food has increased up to 3% in 2016 that has also slightly reduced as compared with the average review period. Even the slowdown is attributed towards the growing maturity of packaged food goods in Singapore. However, the wellness and healthy packaged food have to continue towards the robust present value growth, and these efforts are made by health promotion board for initiating the healthy lifestyle and healthy eating. These efforts include the suggestions for consumers to minimize the intake of sugar (Shamsudin, Yodfiatfinda, Mohamed, Yusop and Radam 2011). Food packed market has also come up with reduced fat packaged items, and the same will reduce the fat milk, with around 47% of the value share in the year 2016. Providing semi skimmed and fat-free milk, Singapore is quite famous for offering health food packaged. Even there is a high awareness about food packaging, and high-quality products are provided to the customers. These products are available in the major supermarkets as well as hypermarkets (Smith 2011). TNA has an advantage in these markets, as they can even offer attractive offers to the customers. These factors have also increased the retail sales value in Singapore (McDonald 2012). It is expected that the packaged food will increase up to 3% CAGR in 2017, and it is forecasted that the sales will increase in 2021. In both the markets, the growth will be stable. The synergy among the health promotional board yearly campaign for promoting a healthy lifestyle and the drive from producers to continue to achieve symbol of healthier choice will make sure that stable growth is attained in all categories of food packaging industry (Shankar, Carpenter and Farley 2012). Actions for improving sales and marketing in those countries Singapore The marketing strategy of TNA helps the company in providing information about the ongoing changes happening in different components of companys business environment (Schermerhorn 2009). It also facilitates, the organization in entering the market of Singapore, which will support in attaining the goals of the company in both effective as well as efficient way. The marketing strategy of TNA will cover up few important features like: The new variety of the products will aim towards providing high quality as well as low-fat items so that customers can experience the high level of energy. TNA will also enhance the product and service sales by 10% in the coming years, by mainly emphasizing over working professionals, who are between the ages of 24-35 years (Russell 2010). TNA will also develop the focused customer plan in the next few months, for the purpose of increasing the brand image and increase the margin of sale. TNA will also spread the awareness about its products by health advertisements along with the active promotion (Russell 2010). TNA will also create the schemes and strategies, which could be implemented for improving the profit margin in the Singapore emerging market by 7% in the coming years. TNA will also enhance the acceptance of packaged products for female customers, which can make the energetic and enthusiastic (Russell 2010). India The food packaged marketing world in healthy and sanitized. Various brands like Real, Saint, Minute Maid, etc. has taken the western code like breakfast, purity, physical fitness and compensation. TNA in India will target the westernized, affluent audiences, for whom healthy lifestyle is essential (Reid and Bojanic 2009). Risk associated with these two potential markets In India huge part of floriculture and horticulture is mainly wasted, due to the lack of cold chains and logistics. Nevertheless, the proper packaging can help in addressing the innovation through enhancing the shelf life of these items by modified atmosphere packaging. BIS standards that are mainly used by the Indian packaging industry is not up to the standards set by the developed nations. Due to the relevant technology and mismatch of standard in food packaging, the export industry has suffered a lot. There is an increasing and ongoing trend in Singapore for the healthy eating (Peng 2012). Whether it is justified or not, but the fast food is often related to the eating empty calories as well as junk food. Singapore is price sensitive when the case comes to purchasing food items. Singapore is the most competitive market. Competitive items are not so costly and are equally used as American products. Food ingredients coming from the regions has less cost, due to the free trade area of ASEAN (Marich 2009). The AFTA also cover common effective preferential tariff provision, for initiating the free flow of goods among member state (Martinez and Wolverton 2009). Conclusion Benefits and challenges related to five Asian countries is analysed in the report, so that it become easier for TNA to expand their business in these market. TNA had faced various challenges when they grew their business in different countries, which relates to lack of technical compatibility among the system of TNA and snack food packaging industry. In this report recommendation is provided, that relates to enhancing sales and marketing in these regions. References ADVANTAGE INDIA - CONSUMER GOODS PACKAGING TRENDS. 2011. [Online]. Available at: https://www.iom3.org/packaging-professional-magazine/news/2011/may/22/advantage-india-consumer-goods-packaging-trends [Accessed on: 13th May 2017]. Alam, S. S. 2010. Assessing Barriers of Growth of Food Processing SMIs in Malaysia: A Factor Analysis. International Business Research, 4(1), pp. 252-259. Aly, A.A., and Baker, C.G.J. 2013. Productivity Issues: Industrial Engineering and Operations Management, in Handbook of Food factory Design. In: Baker, C.G.J. (Ed.). New York: Springer Dong, J. 2016. Singapore Food Processing Ingredients. [Online]. Available at: https://gain.fas.usda.gov/Recent%20GAIN%20Publications/Food%20Processing%20Ingredients_Singapore_Singapore_12-9-2016.pdf [Accessed on: 13th May 2017] Gillespie, Jeannet, Hennessey. 2009. Global Marketing, 2009 Ed. Wiley India Pvt. Limited. Heneghan, C. 2016. 8 major challenges facing the food and beverage industry in 2016. [Online]. Available at: https://www.fooddive.com/news/8-major-challenges-facing-the-food-and-beverage-industry-in-2016/411408/ [Accessed on: 13th May 2017] Lamb, C.W., Hair, J.F. and McDaniel, C.D. 2010. Essentials of Marketing. Cengage Learning. Lee, W., and Okos, M. R. 2011. Sustainable Food Processing Systems-path to a Zero Discharge: Reduction of Water, Waste and Energy. Procedia Food Science, 1, pp. 1768-1777. Malaysian Association of Standard Users. 2013. Consumer Complaints- Feedback to Improve Food Safety Standards. Standard Users, 1(1), pp. 24 Marich, R. 2009. Marketing to Moviegoers: A Handbook of Strategies and Tactics. SIU Press. Martinez, M. and Wolverton, M. 2009. Innovative strategy making in higher education. IAP. McDonald, M. 2012. Market Segmentation: How to Do It and How to Profit from It. John Wiley Sons. Packaged Food Sales in Japan. 2015. [Online]. Available at: https://www5.agr.gc.ca/resources/prod/Internet-Internet/MISB-DGSIM/ATS-SEA/PDF/6609-eng.pdf [Accessed on: 13th May 2017] Peng, M.W. 2012. Global Strategy. Cengage Learning. Reid, R.D. and Bojanic, D.C. 2009. Hospitality marketing management. New Jersey: John Wiley Sons Russell, E. 2010. The Fundamentals of Marketing. AVA Publishing. Saudi Arabia Canned Food Packaging Market. 2017. [Online]. Available at: https://www.mordorintelligence.com/industry-reports/saudi-arabia-canned-food-packaging-market [Accessed on: 13th May 2017] Schermerhorn, J.R. 2009. Exploring Management. John Wiley Sons. Shamsudin, M.N., Yodfiatfinda, Mohamed, Z.A., Yusop, Z., and Radam, A. 2011. Evaluation of Market Competitiveness of SMEs in the Malaysian Food Processing Industry. Journal of Agribusiness Marketing, 4, pp. 1-20. Shankar, V., Carpenter, G.S. and Farley, J. 2012. Handbook of Marketing Strategy. Edward Elgar Publishing. Smith, T. 2011. Pricing strategy: setting price levels, managing price discounts and establishing price structures. USA: Cengage Learning. Talib, H.H.A., Ali, K.A.M., and Idris, F. 2013. Quality Management Framework for the SME's Food Processing Industry in Malaysia. International Food Research Journal, 20(1), pp. 147-164 Zain, Z.M., Anas, Y., Hassan, F.H., Lehar, H., and Shamsuddin, S. 2012. Challenges, Opportunities and Performance of Bumiputera Smes in the Food Industry: A Malaysian Perspective. IEEE Innovation Management and Technology Research International Conference 722-726.

The Great Gatsby Creative Writing Essay Example

The Great Gatsby Creative Writing Paper It was a warm summers night and a slight breeze blew over the freshly mown grass. The air rushed through the open window, causing the velvety curtains to billow. Voices could be heard from inside, two deep male voices, and two slightly shrill female ones, they were obviously enjoying themselves lustfully. Their laughter echoed out onto porch and beyond into the garden. Then two shadows slowly emerged from the light of the house, the shadows were followed by two woman. One walked majestically, like an orchid her slender body obvious beneath the white dress. The other looked both sad and lovely, she looked beautiful at first site but there was a sadness beneath the white dress she wore. They were both dressed in white, and their appearance seemed to reflect the light cast upon them. Behind them walked two men, the first a straw haired sturdy man, his arrogance obvious as he trailed behind the two girls and eyed them as if seeing his possessions, his haughty swank made him look like a boat in a storm as he rocked from side to side. The second man was completely different, in his eyes there was honesty and not a trace of arrogance, he walked slowly but steadily and displayed no effeminate swank. We will write a custom essay sample on The Great Gatsby Creative Writing specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Great Gatsby Creative Writing specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Great Gatsby Creative Writing specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Their voices were loud and shrill and their laughter echoed through the night sky. As they sauntered across the soft grass I stood on the table waiting, ready to be acquainted with Toms rough hands. Next to me were four candles, their flames dancing around on the wax. The charming looking girl then said Why candles? In two days it will be the longest day of the year She walked over to where I was standing and put out the candles, she and the other three sat down. I was still standing there and still no-one made the effort to take off the cork and drink a glass of wine. Then the girl that had put out the candles said Look eyeing her little finger, which was green and blue, You did it she chided the complacent straw-haired man Thats what I get for marrying a brute of a man, a great, big, hulking physical specimen of a He retorted that he never wanted to be called hulking again. They went on arguing, while the evening sun slowly began to descend from the sky and the moon bright and cr ystal white rose up into the the heavens. The grass glowed a pearly colour in the light of the moon and the stars began to appear between the small shards of cloud. The demure man sitting between the arguing couple watched the argument attentively, while the woman who was obviously called Jordan, or so I thought Id apperceived stared blankly into nothingness, her facial features were somewhat less attractive than usual as she yawned again with obvious boredom at what was going on. Suddenly Toms hand jerked out and grabbed me, he violently pulled the cork off the top and poured everyone a glass of wine. Few minutes later conversations were going normally again, Daisy had been appeased, and now she and Jordan spoke simultaneously as their high-pitched chatter and laughing broke the silence of the night. Then suddenly the man who had been silent for most of the time said You make me feel so uncivilized, Daisy This remark was greeted by the haughty man who I had gathered was called Tom spurting out Civilizations going to pieces and he talked on, his eyes gleaming as though he had just said something extremely intelligent and he felt like an erudite professor who knew something arcane and clandestine the others did not. Have you read The Rise of the Colored Empires by this man Goddard?