Marcus Ang Is A Member From The Field Sales Section Essay Example for Free

Marcus Ang Is A Member From The Field Sales Section Essay Marcus Ang is a member from the field sales section. His sales performance in the recent months has been below target in contrast to his outstanding sales in the past years. Marcus blames it on the poor economic situation, however the other sales staff seem to able meet their target. How should Madam May May attribute Marcus’s performance? First of all, Madam May May has to know about what happened to Marcus. What causes him to blame the poor economic situation while the other sales staff still be able to meet their target. As we learn from the organization behavior, we know that employee’s behavior will affect the performance of an organization. According to Fritz Heider and H.H. Kelly, they stated that people’s behavior is affected by internal and external factors. On the other hand, Kelley’s attribution theory refers to three types of factors which are distinctiveness, consensus and consistency. Distinctiveness is about whether the subordinate’s behavior occur during the performance of this task only? Next, consensus is like whether this behavior unusual for the subordinate’s peers? Then, consistency is about if this behavior unusual for the subordinate in other situations? In this situation, Madam May May should first consider about the factor of consensus. As Marcus cannot be able to hit the target while other are able to reach their target. Next Madam May May should consider about locus of control dimension, which mean whether the primary cause of the behavior is a characteristic of the subordinate, or a characteristic of the situation. Second ,stability dimension whether the subordinate is likely to remain stable or unstable? The crossing of the locus of control and stability dimensions produces four casual factor that a leader can utilize to explain a subordinate’s behavior, ability , task difficulty , luck ,chance, effort.

Eye Ball :: Literary Analysis, Spiegelman

What would you expect to be the mindset of a misfit kid who isn’t really that popular who is playing baseball with the other kids because he wants to fit in with them instead of being himself? There is such a boy in a first person short story that was written by a worldly-renowned author. In â€Å"Eye Ball,† Spiegelman uses characterization to develop the theme of be yourself and don’t try to fit in with others at the expense of showing your true self. Spiegelman’s use of the little misfit boy as a round character reflects the theme because he realizes that he doesn’t fit in so well with all the other boys. Being a kid with Amblyopia, or â€Å"lazy eye†, he already knew that he was at a disadvantage and he points out his condition when he is saying â€Å"since I’m virtually blind in my left eye† and when he said â€Å"Amblyopia, a â€Å"lazy eye,† made my whole world 2D† (130). He still tries to play baseball with the other boys, but he quickly finds out that he isn’t that good at it. Identification can be made with the out-of-place feeling that the little boy most have felt. Now he is most likely feeling down because he did poorly when he was up at bat. Most out of place people â€Å"must escape into fantasy and/or develop a rarefied sense of humor to survive† (130). The usual â€Å"boy in 1950s America, baseball was not optional and to be inept assured a place in the social hierarchy even lower than a girl’s† (130). This shows that there was a current stereotype of how little boys should be and he tried to be stereotypical with all of the other little boys. Spiegelman’s use of the little misfit boy as a dynamic character reflects the theme because he learns to be himself and not try to be something that he isn’t. He realizes that he is out of place when the boys placed him and he â€Å"was inevitably relegated to right field, far out of harm’s way† (130). While in the outfield he thought that his boredom took out his â€Å"anxiety that a ball might come† (130). He already knew before he went with the boys, that playing baseball with them wasn’t going to go smooth so he â€Å"often kept some comic book handy† (130). While he is thinking, he finally realizes that his true comfort is in comics and not sports.

In Jean Paul Sartre’s novel Nausea

In Jean Paul Sartre’s novel Nausea, the origin of Roquentin’s nausea is shown to be the essence by which things are named and which acts as a faà §ade over the more genuine nature of their existence. Throughout his experience, Roquentin realizes that much of what is touted as important in life is really non-essential. In fact, he finds that the deepest mysteries are hidden by a more frivolous veneer of plurality, to which people give names based on their attributes.These plural objects he finds himself disgusted with—beginning with the stone he held in his hand at his moment of epiphany. This nausea that is experienced by Roquentin is in direct contrast to individuality, because at root he believes that all comes down to existence. People and objects exist; that is all that can and should be said about them. All their other attributes are merely decoys blinding people to the real truth about themselves and their world. Therefore, any individualism is a mere illu sion, and further claims made by persons concerning ideologies are simply efforts at distracting oneself from the confounding mystery of existence.Roquentin’s nausea manifests itself as a reaction to the nominal nature of objects. This idea of naming objects (nouns) is one that distracts the mind from the fact that the object is there, in existence, without any real explanation as to why it exists. Roquentin says, â€Å"Everywhere, now, there are objects like this glass of beer on the table there. When I see it, I feel like saying: ‘Enough!’† (Sartre, 8). In fact, this is the way his nausea reacts to all attributes of objects, including color, taste, and other features by which people describe them.The apprehension of an object as a â€Å"blue book,† for instance, explains away the existence of the object and prevents one from marveling at the fact that it exists at all. This kind of â€Å"apprehension† can occur most readily when a thing can be seen, and this explains why Roquentin’s nausea occurs only in the light. The light, according to the reasoning put forth by Roquentin, is where an object’s existence becomes obscured. In the dark (or even in the mind of a subject who thinks of the object) the subconscious is likely to think of the thing only in terms of its being â€Å"there†Ã¢â‚¬â€that is, being in existence. However, in the light, the senses are apt to pick up such things as shape, color, and text. These peripheral things are mere distractions–frivolities that serve to concoct a reason for the things existence and to divert the mind from the profound fact of the thing.In the same way, Roquentin’s nausea rises against personalities of his and past eras, and this can be seen as a method of criticizing any tendency toward individualism. This can be seen as he views certain paintings and portraits of personalities. It can also be seen in his nauseated reaction to such persons as the Self-Taught Man and others, whose past lives he comes to dismiss as being non-existent like all things past. These people, he argues, have succumbed to an illusion of past glory and exploits, and from this have come to deny their own existence by promoting their essence.In contrast, Roquentin views such historical personalities as Robespierre, Lenin, and Cromwell all as one (Sartre, 69). This proceeds from the idea (noted earlier) that the attributes of a given thing act as a glare that prevents the viewing of the more important fact of existence which lies beyond the glare. Following this reasoning, then anything or anyone that seeks to make a name for himself and denies his/her oneness with the inexplicable existence of the universe acts futilely.The work that Roquentin constructs around the marquis Rollebon is described as conjecture rather than reality. In fact, the only reality that Roquentin acknowledges is the present. This underlines the concept within the novel that de bunks individualism, as Roquentin’s mining of the past to create the marquis can only create a false version of the man. This is further demonstrated in the fact that the marquis’ life is recreated only through retelling his actions or describing his features. Yet, these are both examples of the things that nauseate Roquentin—the very attributes that distract from the mystery of the marquis’ existence.In fact, Roquentin says of Rollebon, â€Å"He is a bubble of fog and desire, he is pale as death in the glass, Rollebon is dead,† (Sartre, 102). The significance of this is that, through Roquentin’s book, these attributes attempt to mask the fact that Rollebon is dead and therefore no longer in existence. It is existence that is important. Non-existence equals unimportance, regardless of ones attributes and exploits. Therefore, Roquentin ceases to continue writing Robellon’s history. This idea can be further generalized to all persons wh o somehow become distinct from all others in existence (whether by naming at birth or subsequent celebrity) as this is all meaningless.The nausea experienced by Roquentin is also a reaction to human beings’ tendency to generalize ideas and form them into ideologies. His reaction to Self-Taught Man’s socialism highlights the movement as a frivolous regard for â€Å"brothers,† â€Å"sisters,† â€Å"fellow humans† and â€Å"mankind† which in reality are names and attributes that merely mask a more homogeneous existence that is common to all that are in the world. This existence unites man with animal and with inanimate objects, and any attempt to individualize or distinguish those things around which ideologies are formed is fruitless.Roquentin also refers to what he terms â€Å"contingency.† He writes, â€Å"The essential thing is contingency. I mean that one cannot define existence as necessity† (Sartre, 131). This hints at the idea that any particular reason concocted by the human mind that points toward the need for a thing’s existence is beside the point of existence, which is by no means essential. In Roquentin’s conception, therefore, such explanations are non-essential. The only thing that matters is that a thing exists at all, and not ideologies that explain why it exists.The nausea that is experienced by Roquentin exists as a result of his growing disgust with the nominalization of the homogeneous world. He experiences a vertiginous reaction to the illumination of individual objects, which highlights the thing’s attributes. Yet it is these attributes that most prevent the apprehension of their profound existence, as they offer an illusory reason for the thing’s otherwise inexplicable presence in the world.This represents a form of individualism that Roquentin believes is a faà §ade, as all things (persons, objects, animals, etc.) are one in existence. This idea, which i s the origin of Roquentin’s nausea, presents therefore an argument against individualism. It also presents a similar argument against ideology, as these so-called universal concepts are based on beliefs about (or on attributes of) particular things—and these attributes in reality do not exist.Work CitedSartre, Jean Paul. Nausea. New York: New Directions Publishing Corporation.

Marcel Duchamps and Andy Warhol Essay

Art is an extremely subjective form of human expression and no one exemplifies the modern expression better than Andy Warhol. Despite numerous accusations against him for his treatment of the said subjects, Andy Warhol has become the archetypal modern artist: a man who has turned the proverbial tables on art as we know it. Several decades prior to Warhol, however, was an equally controversial artist, Marcel Duchamps whose Dada influence contributed to a new way of looking at study objects. How are these two artists connected a how did Dada influence Pop – Art as a movement? Marcel Duchamps is famous for a number of abstract pieces including The Fountain (1917/1964). The Fountain essentially consists of a toilet-bowl, glazed and signed. The idea behind this object appears to be asking the viewer whether or not this is in fact a fountain. Duchamps attempts to give the viewer another way of looking at the object. Rather than simply being an ablutionary article, the toilet-bowl also represents a man-made vehicle for water movement. At the same time as Duchamps movement, there had been artists such as Rene Magritte who presented a similar image in his Treachery of Images collection (1928-1929). His painting This is not a Pipe created a stir in the industry with the question similar to Duchamps: is what we see really what it is? Take for instance Duchamps Three Standard Stoppages (1914-1915) which also represented a number of questions. The Stoppages are presented as a mathematically devised collection of stoppages on glass plates. However, Duchamps named this piece a ‘readymade’ collection. This would mean that the objects are found and left to speak for themselves in the same way as The Fountain. The whole idea of Duchamps work compared to previous artistic movements was that previously the importance of art was to recreate reality instead of manipulate it. The modern movement manipulated the reality, thereby questioning its existence. Andy Warhol on the other hand also used object: human objects. While his use of other objects also existed, people played an important role in his work as a whole. Celebrities offered him ‘muses’ and a symbiotic relationship of creating celebrity and enhancing it. His works of celebrities included Marilyn Monroe (1962), Liz Taylor (1962) and various others such as Elvis Presley and the Beatles. Similar to Duchamps, Warhol photographed inanimate articles that represented the modern world we live in. Corn Flakes (silk-screen, date unknown), is a silk-screened depiction of the modern objects we have come to know as part of our world. The ‘readymade’ idea comes back into pay with the idea that modernity spelt the easy access to such commodities as breakfast in a box. This was important to the Pop-Art movement as presented later by other Pop artists such as Roy Lichtenstein who created the popular art-form of cheesy comic book reality that represents the falseness of the society in which we live. Warhol’s Skull on Paper (1977) was another use of the object depiction that relied entirely on how the viewer decided to interpret it. If life was indeed expendable then it was the same as any other object that is used and thrown out. Warhol used a certain muse that became the downfall of his object obsession: Edie Sedgwick. Edie Sedgwick was also merely an object in the same way that the Cornflakes or the Skull was. Edie Sedgwick (1966) was taken a few years before her untimely death, and showed the glamorous socialite in a variety of poses similar to that of the pictures taken of Marilyn Monroe shortly before her death. Sedgwick looked wooden and vulnerable: the same way she was in reality but being versatile enough to take on a number of personae. What we have, essentially is a series of objects ranging from animate (human) to inanimate (boxes and skulls). The question is: does the humanity of the object make it any less of an object? Duchamps used articles also such as paper, wood, ceramics and photographs also in his composition Box in a Suitcase (1935-1941) we see the unlikely positioning of photographic material in what we presume is a suitcase. Warhol similarly presents articles in unnatural situations, such as Marilyn Monroe and Liz Taylor with various colored hair, such as green and red. The shift in how we view objects was initially explored by Duchamps and further explored by Warhol. As one artist movement invariably affects the next, the influences of Dadism and Surrealism on modern art are cannot be ignored. We see that found objects such as those used by Duchamps can be used to represent things that we would not generally associate them with. We can see that there is necessary resemblance of toilet-bowls to fountains but we rarely see them in that perspective if we are sitting on them. Likewise, we eat cornflakes without regarding them as artistic pieces we wish to hang on the wall: they are disposable. While performing one task and duty they are taken for granted with regards to other uses. A skull too can be viewed as depiction but not in the same way as a picture of Liz Taylor or Marilyn Monroe could be. The question here is not whether or not something should be seen as art or not but whether it can be seen as something more than it actually is. It is effectively the art of philosophy and ridicule rather than art for art’s sake. We can clearly see that objects play an important part in modern art, Pop Art in particular. This has occurred in the changing climate of our existence which is far less genteel than in previous years. Our throw-away society relies on everything being ‘readymade’, space saving and time saving. With this in mind, art has always been used to express the state of humanity at the time. It is a recording of reality at any one time, and Pop Art merely explores the world that exists as material and artificial: objects being the primary subject. Museum of Modern Art: Marcel Duchamps: http://collections. sfmoma. org/THA822*1$2139*493827 Andy Warhol: http://collections. sfmoma. org/THA753*1$2167*495233

Spanish Banks In Latin America The WritePass Journal

Spanish Banks In Latin America Abstract Spanish Banks In Latin America Abstract1.What were the underlying reasons (or motives) behind the internationalization of leading Spanish banks in the 1980s and 1990s?a) What issues should firms consider in selecting international markets to enter? 2.  In light of this, why did the leading Spanish banks target Latin America for their international expansion?ConclusionReferenceRelated Abstract The service sector has in the past few decades seen an increase in the integration of global economies. The expansion of Spanish banks into Latin America is a striking example of the degree of globalization and integration of financial markets that is increasingly taking place across the globe. The leading Spanish banks have augmented their presence in Latin America to become the largest foreign institutions in retail banking In view of the above, this paper sheds a light on the process of internationalization with the aim of seeking answers to these questions: What were the motives behind the expansion? Why did Latin America become the target of this expansion and not other European countries? And lastly, why did the leading Spanish banks mainly enter Latin American market via acquisitions?   Based on the analysis, the paper finds that the expansion was partly due to increasing liberalization and deregulation of financial activities and in part, a result of the integration of Spain into the EU. The paper also finds that the motives or the reasons behind the expansion were to increase client base, attain greater investment diversification and to thrive in the competitive globalized business environment. Latin America not only offered good investment opportunities but also provided a solution to the problem of lack of competitiveness that most Spanish banks faced. 1.What were the underlying reasons (or motives) behind the internationalization of leading Spanish banks in the 1980s and 1990s? The service sector has in the past few decades seen an increase in the integration of global economies. The internationalization of banks is a striking example of the degree of globalization and integration of financial markets that has taken place across the globe (Cardone-Riportella Cazorla-Papis 2001). The massive presence of globalized financial institutions, especially the leading Spanish banks has changed the picture of banking, insurance and pension fund in Latin America (Calderon 2000). Whilst the presence of foreign banks in Latin America is not a new phenomenon, the second half of the 1990s saw the internationalization of leading Spanish banks on an unprecedented scale (Slager 2005). Whereas the expansion process occurred in both periods of the 1980s and 1990s, it was in the 1990s that the degree of internationalization grew significantly (Bejar 2007). Santander first entered Chile in 1978. By 1982, it had already acquired Banco Espanol Chile (Guillen Tschoegl 2000). In 1995 Santander was ranked at position 6 in commercial banking. A further acquisition of Banco Osorno y La Union in 1996 further pushed it to the second position. Its success in the Chilean market is attributed to its superhipoteca, a new mortgage product with aggressive pricing, which allowed the bank to gain 20% of new mortgages (Guillen Tschoegl 2000). Similarly, in Argentina where Citibank and BankBoston had dominated for many years, the two leading Spanish banks, Santander and BBV, acquired some of the most profitable banks. In 1997, Santander acquired Banco Rio de la Plata. On the other hand, BBV acquired Banco de Credito Argentino and Banco Frances (Guillen Tschoegl 2000). But while BBVs acquisition of Banco Frances was okay, the acquisition of Banco de Credito Argentino was accompanied by many integration problems (Guillen Tschoegl 2000). In Mexico, Citibank was the only foreign bank that was allowed to operate. But with Mexico joining NAFTA in1994, it agreed to permit the operations of North American bank and extended the opening to all member states of the OECD (Guillen Tschoegl 2000). BBV became the first Spanish bank to enter Mexico through the invitation of Probursa. By the late 1990s, it had already established its presence in Mexico with over 335 branches (Guillen Tschoegl 2000). BCH became the second to enter by acquiring Banco Atlantico and Bital. Santander came third in 1997, acquiring 61% of InverMexico and Banco Mexicano (Guillen Tschoegl 2000). Just as it did in Argentina and Chile, these leading Spanish banks also introduced new innovative ideas in Mexico, building a strong depositor base but pursuing different strategies. For example, while BBV introduced ‘libreton’ in 1996, Santander mimicked it by introducing its ‘supercuenta’ (Guillen Tschoegl 2000). BBV had within a few months created more than 460,000 new accounts whereas ‘Santander’ boasted of 240,000 accounts (Guillen Tschoegl 2000). This internationalization is a result of the growing financial liberalization and deregulation. Initially, the banking system in Spain was one of the most regulated in the world with restrictive rules that prevented entry of foreign banks. But in the mid-1970s, there was a significant transformation of Spain from being a politically and economically inward looking country to one that was more open and dynamic (Guillen 2005). The process of financial liberalization and deregulation began. This process of change was speeded up by Spain’s accession to the EU in 1986 (Guillen 2005). Among the chief underlying reasons for expansion into Latin America was the need to increase client base, attain greater investment diversification in the high growth potential areas and the need to thrive in the competitive landscape (Sebastian Hernansanz 2000). The deregulation of the 1980s and Spain’s accession to the EU increased competition in retail banking. Spains accession to the European Community in 1986 initiated the process of liberalization and deregulation of the banking sector (Bejar 2007). The deregulation included complete liberalization of interest rates and commissions, new legislations covering pension funds and reforms to the stock market (Parada et al 2009). The process of liberalisation and deregulation was further accelerated with the approval of the Single European Act and Economic Monetary Union which prepared the ground for adoption of the euro within the EU (Bejar 2007). These legislative initiatives had major effects on Spanish banks approach and strategy. The leading spanish banks were obliged to transcend their territorial or rather national boundaries in order to increase their competitiveness, diversify their investments and to protect themselves from acquisitions and takeovers by other foreign firms (Bejar 2007). Thus, given the competitive landscape and the need to diversify investments, the leading Spanish banks had to introduce new strategies to retail banking. During that time, the continent of Latin America displayed good investment opportunities. The leading Spanish banks saw a unique opportunity to attain dimensions in Latin America that would provide them with an edge in the demanding international financial markets (Calderon Casilda 2000). Thus the advantages of localization, the low level of banking services in the region and the growing liberalization led to the expansion of Spanish banks into Latin America (Cardone-Riportella Cazorla-Papis 2001). It follows that the decision to expand into Latin America was driven by the need to exploit the favourable financial system environment in the region and to attain greater investment diversification in Latin America. This would enable the Spanish banks to thrive in the competitive globalized business environment a) What issues should firms consider in selecting international markets to enter? The factors affecting the decision to internationalize activities may vary with a banks chosen entry mode. Whilst determinants such as economic growth and high net interest margin may promote one entry mode, others such as the high concentration in the sector and tax relieves can impact positively on the other structures (Hryckiewicz Kowalewski 2008). Nonetheless, there are certain issues that must be consider when selecting international markets to enter. These can be illustrated clearly with the help of theoretical models. According to the theory of internationalization, companies internationalize value-generating operations based on the advantages derived from such process of internationalization (Slager 2009). The internationalization process materializes through FDI and contributes to value creation if the benefits of using intangible assets across country borders overrun the cost of operating in the foreign market (Rugman 1976). Another model that can explain the decision to expand operations into a foreign market is the Transaction cost theory. Based on the transaction cost theory, the decision to enter a foreign market is determined by acquisition of costs including the cost of managing uncertainty (Williamson 1985). The lack of trust and the presence of uncertainty inform the decisions on whether or not to form alliances, mergers and acquisitions (Bergen et al 1992). Finally, there is the Uppsala model that is often used. According to this model, the focus of internationalization efforts will essentially be on the closer markets due to gradual accumulation of experiential knowledge in these markets which reduces the uncertainty effect (Curci Cardoza 2009). The expansion of these leading Spanish banks into Latin America confirms the predictions of the Uppsala model which views internalization as an incremental commitment based on the accumulation of experiential knowledge in foreign markets. In the 1980s, the re-dimensioning process of the European market had not started yet (Mathieson 2005). Due to increased uncertainty in the Latin American market at the time, banks entered timidly with minimal investments. These Spanish banks thus committed low resources during this period due to the risk involved and given their lack of experiential knowledge in the region. But in the 1990s, the re-dimensioning was already underway and in view of the lesser risk and uncertainty; the Spanish banks began investing in the region by acquiring some of the most profitable banks (Mathieson 2005). Amongst these Spanish banks, the most assertive was Santander primarily due to its strong capital base and previous experience in the region (Guillen Tschoegl 1999). BBV, on the other hand, was at first cautious in investing in the region due to the lack of exposure in the region (Guillen Tschoegl 1999). But later, it increased its investments in the region acquiring a number of profitable banks. This clearly illustrates the benefits of low commitment entry modes and taking time to understand the foreign market before increasing investments. 2.  In light of this, why did the leading Spanish banks target Latin America for their international expansion? The international expansion of Spanish banks into Latin America was speeded up by Spain’s accession to the EU (Curci Cardoza 2009). At the time, competition had grown intensely and it had become increasingly difficult to grow business in the saturated domestic markets. With Spain joining the EU in 1986, it generated a new threat as operation in the Spanish market meant head-to-head competition with the well established European firms (Curci Cardoza 2009). The Spanish banks were thus faced with the dilemma of either competing within the domestic markets or expanding and competing in the international markets. But due to the need for investment diversification and the need to thrive in the competitive landscape, the Spanish banks opted to pursue business internationally (Curci Cardoza 2009). However, owing to the lack of substantial capital, it was perceived not viable to expand into other European countries. Thus, as predicted by the Uppsala model, Latin America became the target of this international expansion since it was psychologically a closer market (Cardoza et al 2007). With this strategy, the Spanish banks protected themselves from acquisitions and possible takeovers by other European companies (Cardoza et al 2007). On its part, Latin America had instituted neo-liberal reforms that included deregulation, liberalization and economic opening (Curci Cardoza 2009). Retail banking in Latin America was during that time in the process of being regulated and given the low level of penetration of foreign firms and the potentially high margins in the region, it offered great investment opportunities (Curci Cardoza 2009). At the time, potential margins were high and the standards of regulating and supervision were rapidly improving (Bejar 2007). Also, Latin America lacke d enough capital resources and demand for banking services was rapidly rising. In view of these, the leading Spanish banks moved to augment their presence in the region and in less than a decade, these banks had grown from being Spain-only operators to becoming major international players in retail banking. Within a short period of time, these Spanish banks had already achieved the status of multinationals and most importantly, they were accorded the status of key world players in the banking industry (Bejar 2007). Their status was moved from being banks confined within the territories of Spain to becoming major international operators whose initiatives were scrutinized around the entire globe (Bejar 2007). Owing to the success of this internationalization process, these Spanish banks now enjoy a sound reputation and are often regarded as a plus factor in countries that they currently operate in. The expansion of these Spanish banks to Latin America was indeed a stepping stone towards their global growth (Bejar 2007).   It is clear from the above as to why the leading Spanish banks targeted Latin America for their expansion. Latin America did not only offer good investment opportunities but the region also provided a solution to the problem of lack of competitiveness that most Spanish banks faced. Why did Spanish banks mainly enter Latin American markets via acquisitions? What are the advantages and disadvantages of this approach compared to other possible market entry modes? There are two main modes of market entry into a foreign market: equity and Non equity modes. The non-equity modes include: the export strategy mode that involves direct and indirect exports; and contractual agreement modes which include research and development contracts, co-marketing strategy, and licensing/franchising among others (Peng 2008). The equity modes include joint ventures and partially owned subsidiaries (WOS). A Joint venture entails some form of FDI in which the foreign firm is allowed a certain degree of control of the entity. The advantages of joint ventures include cost and risk sharing (Peng 2008). Another advantage is the access to knowledge about the host country. Joint ventures are also considered more politically acceptable. There are however certain disadvantages to this mode of entry. First, since it involves partners from different background and with different goals, conflicts are inevitable. Secondly, it may be difficult to achieve effective equity and operational control since everything must be negotiated. Finally, the nature of a joint venture does not give the multinational effective control over foreign subsidiary which may be necessary for global coordination (Peng 2008). On the other side, wholly owned subsidiaries can be achieved in two primary ways: establishing Greenfield operations or through acquisition which is probably the most important in terms of amount of capital involved (Mullineux Murinde 2003). As we have seen in the present case, the mode of entry used by the Spanish banks to enter Latin America is through acquisitions. The two leading Spanish banks, Santander and Bilbao Vizeaya, had in less than a decade augmented their presence in Latin America through some 20 acquisitions (Cardone-Riportella Cazorla-Papis 2001). The advantages of acquisitions as a mode of entry are that it gives the multinational complete control which leads to better protection of proprietary technology (Mullineux Murinde 2003). Also, acquisitions allows for central coordination of global actions. As pointed out by Tschoegl (2003), foreign firms in the long run end up having no comparative advantage in retail banking. For such reasons, acquisition of domestic banks presents the only noble solution. Through acquisitions, these Spanish banks were able to gain greater comparative advantage in Latin America. On the flip side, however, the risks involved both financially and politically are high. The conspicuous foreignness embodied in this mode of entry may become a target for national sentiments (Peng 2008). Additionally, this mode of entry may be affected by post-acquisition integration problems. Nonetheless, the Spanish banks opted to use acquisitions as a mode of entry as this would give them complete control and allow them to gain share rapidly in the Latin American market. Conclusion The expansion of Spanish banks into Latin America reflects the ongoing globalization and integration of financial markets that is increasingly taking place across the globe. The internationalization of the leading Spanish banks can partly be explained by the growing financial liberalization and deregulation and partly due to Spain’s accession to the EU in 1986. Among the chief underlying reasons for expansion into Latin America was the need to increase client base, attain greater investment diversification in the high growth potential areas and to thrive in the competitive landscape. At the time of the expansion, retail banking in Latin America was in the process of being regulated and the low level of penetration of foreign firms and the potentially high margins in the region offered great investment opportunities. Furthermore, Latin America lacked enough capital resources and demand for banking services was rapidly rising. As such, Latin America not only offered good investment opportunities but also provided a solution to the problem of lack of competitiveness that most Spanish banks faced. 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WHY DO I NEED AN AGENT

WHY DO I NEED AN AGENT A reader recently asked me to write about the advantages and disadvantages of having a literary agent. She didnt think she wanted an agent, but wasnt sure whether that was a good decision or not. If I did write about agents, it was a long, long time ago. Im all for them, but the downside is that it slows things down as you land one, and they do take a cut of your profits. But . . . they know more about the business than we do. They have connections we dont. They open doors we never thought of. They make us step up our writing to a higher calibre. Some writers have placed the nickname gatekeeper to agents and editors who send rejection letters; like gatekeeper is a bad thing. Anytime someone is in a position to reject you, youre tempted to take it personally and become inclined to dislike them. However, if you are selected What does an agent do for you? Help edit your work. Of course your work has to be pretty great to start with, but an agent can make suggestions from experience and know-how of the marketplace that will take your writing to a higher level. Target editors and publishers. Other than study a Writers Market or search websites, how do you know what a publisher seeks these days? They dont readily shoot desires out on Twitter or alter their guidelines webpage weekly. Agents, however, groom relationships with these editors. TheY understand what editors seek in the short term and the long term. Negotiate a contract. What do you know about rights? Print rights, electronic, audio, foreign, film, the list is long. As a lone artist, do you understand how to negotiate all these rights? If you dont have an agent, do you know the logistics, pros and cons of holding or signing over these rights? While giving up rights sounds scary, in reality, you could be placing your work in hands that know what they are doing and can greatly increase your chances of landing an audio book or a television show. Do you know what are good ebook royalty rates? Problem solving. If the publisher gets hung up on a bad cover or wants editorial changes that infuriate you, an agent can play middle man and help smooth out wrinkles. Marketing consultation. Agents may be able to recommend great venues for your promotional efforts. They might know what works and what doesnt. They might make introductions to opportunities you never imagined. They have been in this business to earn a living and have been around the block more than most of us. Use that expertise. Nathan Bransford has a nice clear blog post on what an agent does. Heres another post on why an agent is needed, from a sci-fi And heres yet another from the Jane Chelius Literary Agency, which applies to all agents across the board. Author Scott Nicholson explains why you need an agent. When you may NOT need to seek an agent? When self-publishing. When seeking a smaller press. When familiar with rights and contracts. When writing short stories. I used an agent for a smaller press, to improve my odds for a contract. I was fairly familiar with rights, but wasnt completely grounded in the knowledge. I also wanted that buffer between the publishing house and me, using someone who had a firmer grasp on the industry, who could spot a deal and a scam with no hesitation. Yes, I am a fan of agents, but it depends on your goals, experience, knowledge base, and desires whether you use one or not. No, they arent easy to land, but having one can improve your odds . . . depends on what youre gambling on.

MANAGING IN A MIXED ECONOMY Coursework Example | Topics and Well Written Essays - 2500 words

MANAGING IN A MIXED ECONOMY - Coursework Example Management in mixed economy in the current context has attained significant importance across the world (Reisman, 2005). Concerning with the factors of a mixed economy, this paper intends to focus on the management of such issues in the light of Network Rail Infrastructure Ltd. Overview of the Network Rail Railtrack was involved in performing various tasks of scheduling, delivering, managing, selling and consulting for rail transportation and operated as a group of companies that was engaged in maintaining all the aspects of the track as well as stations of the old British rail network. However, it was sold to Network Rail and later renamed as Network Rail Infrastructure Ltd. Network Rail was then charged with the responsibility of managing the entire rail infrastructure in Great Britain excluding the London underground service. Network Rail therefore aims at providing a safe, reliable and efficient railway service within the UK. Correspondingly, the organisation is committed towards improving the rail network by offering faster, and frequent as well as reliable journey within the towns and cities of the UK. With its rigorous effort, it aims at integrating people for making the UK more competitive in terms of railroad transportation. It also aims at bringing significant benefits to the national economy. Moreover, its endeavour towards private sector growth and workforce can also be seen with its radical investment in the sector (Network Rail, 2013). It is worth mentioning in this context that the organisation is committed towards introducing new technologies in order to offer greater ease and facilities to its wide-range of customers. The organisation proclaims to follow the best organisational practices of safety management wherein its initiatives have been committed towards promoting righteous attitude and continuous development within the workforce. It further tends to ensure that all the passengers as well as individuals dealing with fright are fairly treat ed when they choose to use railway. Currently, the company operates as a private company performing commercial businesses. It is categorised as company limited by guarantee and is directly accountable to its members being regulated by the Office of Retail Regulation (ORR). Moreover, the company is determined to deliver a safe, reliable and the most efficient railway for Britain. It is worth mentioning that its members are drawn from rail industry and the public. Moreover, it is funded through excess of revenue apart from the monetary assistance rendered by the government grants. Notably, the Scottish Government is a public member of Network Rail (Network Rail, 2013). Seminar Topic 1: Innovation and Service Transformation The notion of co-production is widely being discussed in relation to the public services across the world and in the UK as well when evaluating the innovation and service transformation strategies taken by organisations such as Network Rail in a mixed economy system . It is worth mentioning that co-production processes in a mixed economy have often been argued to be primarily based upon the apparent characteristics of services in both public and private sectors wherein the production and consumption of services are commonly noted as inseparable. In order to attain the broad benefits of the co-production, it is essential that the users of