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Literature Review - Reading - 1659 Words

CHAPTER 2 LITERATURE REVIEW 1. Introduction In this chapter various related literature and research pertaining to this research will be presented. It addresses the views and effect of using extensive reading method to improve comprehension and motivates reading. 2. Related Literature Up until now there is still no definite definition for ‘reading’ as Criscuolo (1973) says â€Å"There is no exact definition for reading’. Another view, Alderson and Urguhart (1984) in Fauziah Hassan HBET3203 (2004:3), â€Å"If the ability (to read) involves so many aspects of language, cognition, life and learning, then no one academic discipline can claim to have the correct view of what is crucial in reading: linguistics certainly not, probably†¦show more content†¦Most importantly they choose something that they like. Brown H.D. (2001:301) writes â€Å"†¦the extent to which learners will learn to read better in a laissez-faire atmosphere of enriched surroundings or in an instructed sequence of direct attention to the strategies of efficient reading†. Cited in â€Å"The Language Learning Benefits of Extensive Reading† – file://F:\ERTheLanguageTeacher Online21_5...11.11.2006 writes ‘Green and Oxford (1995) in a study of the effect of learning strategies on language proficiency found that reading for pleasure was most strongly related to proficiency†. As extensive reading method has this characteristic of learning the language in unthreatening atmosphere and with no formal text, it is hope, will foster reading comprehension and good reading habit. Krashen (1993) The Power of Reading and Day and Bamford (1998) cited in Brown (2001:365) both made the case that extensive reading ( or free voluntary reading (FVR) as Krashen called it ) is a key to students gains in reading ability, linguistic competence, vocabulary, spelling, and writing. It is important to develop students’ word recognition which will lead to automatic word recognition, and that means less usage of the dictionary. Keep going back or stop to check words in the dictionary will not only slow down the reading rate but may also cause wrong interpretations. Reader may feel discourage to continue or to cultivate good readingShow MoreRelatedImportance And Characteristics Of Literature Reviews1615 Words   |  7 PagesImportance and Characteristics of Literature Reviews A literature review examines existing research that is important to the work that you want to do. Literature reviews provide important background information and details about a specific research topic. Providing background information can help to demonstrate the importance of a topic, and can help to establish understanding of a subject or issue. An effective literature review also provides a space to elaborate on future work to be done on aRead MoreSample Research Paper1642 Words   |  7 Pagesthat exist in the knowledge about this behavior. It might also explain why the specific knowledge gap chosen is of particular importance. Objectives. This section should describe what the investigator hopes to accomplish with the research. After reading this section, the reader should be clear about the questions to be asked, the kinds of answers expected, and the nature of the information to be provided by the proposed research. For example, one might propose to test a drug abuse treatment approachRead MoreLiterature Review On Childhood Trauma Essay1113 Words   |  5 Pages Literature Review Article Critique Jocelyn Claudio Widener University September 25, 2016 Overview The authors of this literature review evaluated studies completed on adults who were 50 years or older and also experienced trauma as a child. They reviewed the impact childhood trauma has on their mental and physical health as older adults. They collected findings from 23 studies that were published between 1996 through 2011 and concluded that childhood trauma did in fact have negativeRead Moreliterature review1550 Words   |  7 PagesWriting a Literature Review A literature review†¦ †¢ Provides an overview and a critical evaluation of a body of literature relating to a research topic or a research problem. †¢ Analyzes a body of literature in order to classify it by themes or categories, rather than simply discussing individual works one after another. †¢ Presents the research and ideas of the field rather than each individual work or author by itself. A literature review often forms part of a larger researchRead MoreFeatures of a Good Literature Review795 Words   |  4 PagesEssay: The Features of a Good literature Review A literature review discusses published information in a particular subject in a critical and thorough manner. It may be placed at the beginning of a research paper or it may be an entire paper by itself, frequently the first phase of a large research. It enables one to know that they are on the right path on that specific research. There are several features of a Good Literature Review that crafts it into making a comprehensive and effective pieceRead MoreEnglish As Second Language Learning776 Words   |  4 Pagesconstraint of such goal (Folse, 2004). As the bedrock of English and as well as language, vocabulary also facilitates the development of other language skills: lexical richness leads to the progress in the use of language, namely listening, speaking, reading and writing skills (Nation, 1994). Reversely, The improvement in such skills may enhance learners vocabulary size as the exposure to more learning materials improves the capacity to acquire new vocabulary. (The impor tance of learning vocabulary/ whyRead More My Development as a Writer Essays1352 Words   |  6 Pages My English Literature major has helped me to achieve an outstanding level of appreciation, enjoyment, and knowledge of both American and British Literature. As a high school AP English student, I struggled through great works like Hamlet and To the Lighthouse. My teacher’s daily lectures (there was no such thing as class discussion) taught me merely to interpret the works as critics had in the past. I did not enjoy the reading or writing process. As a freshman at Loras, I was enrolled in theRead MoreWhat Impact Can Librarians And Libraries Have On The Decline Of Older Children And Teen Recreational Reading1706 Words   |  7 PagesLITERATURE REVIEW The research question â€Å"what impact can librarians and libraries have on the decline in older children and teen recreational reading† can be broken down to discuss several subtopics. This literature review examines peer-reviewed material to provide a basis for the research questions discussed within this study. The review of the literature is divided into four subtopics that were studied using different theories and approaches in an effort to answer the research question. InRead MoreReading Fluency and Its Effect on Reading Comprehension1295 Words   |  6 PagesReading Fluency and its Effect on Reading Comprehension Topic Selection As an elementary teacher, I have often thought reading fluency plays a large role in a child’s reading development. Few reading programs give fluency the recognition it deserves. Reading fluency has been a prominent and reliable benchmark for me, even when students have comprehension difficulties. Once fluency is assessed, the results were used to place students in their reading ability group. Often times,Read MoreCinderella Stories1524 Words   |  7 PagesTitle — the name of a book, movie, song or other work Fairy Tale — a make believe children’s story about magic, fairies, giants, witches, or talking animals. Procedures 1. Ask and discuss â€Å"What is a Fairly Tale?† 2. Tell students we will be reading several Cinderella stories over the next several days. We will be comparing the characters, where they live, and learning about story elements. Story elements include the setting, plot, conflict, climax and resolution. 3. In pairs have students

Is Google making us stupid “What the Internet is Doing to Our Brains free essay sample

In â€Å"Is Google making us stupid? † Carr claims the Internet is altering the brains ability to concentrate and process thoughts. The internet has become our main source for information, but has shape the way we read books or other long articles. The new style of reading promotes a risk of flattening intelligence even as it offers the benefits of knowledge efficiency and immediacy. As technology continues to evolve, it will continuously strip humans from humanity. According to Gorry, â€Å"As technology exposes us to the pain and suffering of so many others, it might also numb our emotions, distance us from our fellow humans, and attenuate our empathetic responses to their misfortunes†. Such prolonged exposure to the internet has made us inhumane of others by not considering peoples emotions. The article explains the effects of the internet has had on both Carr and his colleagues. He explains how hes mind has become more inefficient to comprehend a lengthy article since his use of the internet. Hes unable to concentrate on long pieces of writing and struggles to continue reading until finishing. The way he use indulge himself into books and articles is no longer there, now he must force himself to do so. In addition, he acknowledges the internet has become a useful tool to access information in such a prompt manner. However, his mind has adapt to obtain information in such a swift manner without doing much effort. His colleagues are struggling as well to stay focused after Flores 2 using the internet for long periods of time. Carr colleagues are considered the â€Å"literacy types† but are experiencing similar problems after reading long articles. The effects of the internet doesnt just affect Carr, but also the people that surround him. Internet has significantly diminish cognition by not being able to fully understand the article or the book being read. Carr does use anecdotes to back up his argument that the internet has negative effects on the mind, although no such evidence can be proven. However, he use a recent scientific study from the University College London as the foundation of his argument. The five year study concerning online reading behavior prove a new form of skimming activity from users using the sites. The users jump between several sources and just read less than one or two pages in which they rarely return for a second look. Longer articles were saved to be read later, but theres no such evidence that they took time to read it later on. The way people â€Å"read† has change, and the study proves it. The results of the study showed that readers â€Å"power browse† looking for the most important information out of the immense amount of material available. He cites Maryanne Wolf, a developmental psychologist to explain that â€Å"When we read online read online, she says, we tend to become â€Å"mere decoders of information. † The statement indicates that instead of reading a book or article, people are more willing to just skim through and try to find an understanding of the reading rather than actually doing the effort. Reading isnt what it used to be according to Wolf. People actually need to indulge themselves into deep reading to fully comprehend what the book/article is trying to emphasize on. Doing so would actually force the reader to continue reading just so that he/she did not prove the author right. Carr changes the focus towards the human brain of being shaped or formed, which can be easily Flores 3 manipulated in various ways. Nonetheless, brain researchers say otherwise. James Old, a neuroscience professor at George Mason University attempts to make things more clearly by stating that nerve cells regularly form new connections and dispense old ones. As he has stated â€Å"the human brain† has the ability to reprogram itself, meaning that age isnt necessarily a factor in the brains development. The concept of â€Å"Intellectual technologies† was introduce to the argument, meaning that we essentially incorporate technology as part of our lives. The mechanical clock was used as an example for the concept of intellectual technology. Carr does discuss about the benefits and disadvantages from the evolving new forms of technology. The clock â€Å"helped bring into being the scientific mind and the scientific man. But it also took something away†. Now decisions are being made of when to eat, work, or sleep from technologies rather than our senses. The internet by far has impacted cognition, as it has becomes something we cant live without. Internet is replacing most intellectual technologies from the past such as the clock, map, printing press, typewriter, calculator, telephone, television and radio. The amount of content the internet has, is significantly diminishing concentration by having numerous distractions such as ads or impulsive persuading commercials trying to sell something. Furthermore, Carr discusses about the creators of Googles and strives to figure out their perspective. The creators (Sergey Brin and Larry page) acknowledge of desiring to make Google an artificial intelligence search engine. Their main focus is to make a search engine as smart as people- or smarter. Theyre determine to create a search engine that â€Å"understands exactly what you mean and gives you back exactly what you want. † Their ambition to keep improving Google is quite astonishing, as they aspire to great new heights. However, Carr questions the assumption that well be all â€Å"better off† Flores 4 by incorporating our brains with an artificial intelligence which can be extremely worrisome. He explains intelligence is not something, you can try to manipulate. Theres no certain way to calculate human behavior nor intelligence. Carr does continue to reinforce that humanity is being replace by the new forms of technology that has becomes part of our lives. Carr admits hes skeptical of excessively worrying about nothing as he tries to find flaw in each technological advancement in which we tend to glorify. He refers Plato Phaedrus, in which Socrates is concern of the development of writing because the written word would just be a substitute for the memory. In addition, people would think themselves knowledgeable despite being unable to comprehend the new gain knowledge. The 15th century Italian editor Hieronimo Squarciaficos concerns about printed works were inaccurate as printed works became a beneficial part of human knowledge. The internet has become our main source of information, but we losing ourselves at the same time. As Gorry stated â€Å"Technology is replacing the traditional social structures of the face-to-face community with more-fluid electronic arenas for gossip, preening, and posturing,. Social interaction has decrease over the past few years since the introduction of the cell phone. People are least likely to talk face-to-face and more easily text one another back and forward. As a result, people lack communication skills in which they are crucial to build relationships. The title of Carr’s article is the most revealing clue for the entire argument he is trying to make. â€Å"Is google making us stupid? † The obvious answer might be that Google provides us with an instant access to all types of information from a variety of sources. As a result, we are becoming too use to being able to access information faster and more conveniently. Likewise, the future of technology will continue to evolve as technology importance increases. We don’t know what the internet may become in the future, and how it could make us more like computers. But, Carr does fear that we have lost the ability of deep critical thinking. In essence the internet immersion has dramatically affect us by making us become more machine-like than machines themselves.

Throughput Accounting Theory of Constraints Dr. G Essays - Economy

Throughput Accounting: Theory of Constraints Dr. Goldratt's 'Throughput Accounting' revolutionized the methods by which companies viewed their costs and associated them with profits. Unlike the traditional cost accounting methods, Goldratt argues that accounting should seek to maximize the movement of products through an organization to eliminate potential bottlenecks that prevents efficiency and speed. Goldratt argues that the current costing systems in use were developed almost a hundred years ago based upon the business practices and business designs of that particular era. The traditional accounting system therefore can be understood in the context of a "Cost World". This cost world focuses all aspects of business value and decision making upon the cost of products themselves. In order to connect all of the subsequent aspects of business to costs, very elaborate allocation of expenses had to flow through to products. These "cost schemes" in effect have many different error s and assumptions that impacts the accuracy of accounts and therefore causes misjudgments within management decision making. Goldratt proposes within his book that accounting should be viewed through a "throughput" perspective. Throughput rests upon three specific elements: throughput, inventory and operating expense. Throughput can be defined as the monetary gain a business makes from selling its products. Investment is the monetary value of all fixed assets which enables throughput to occur. Finally, operating expense is all of the operational expenses spent on producing throughput. The reasoning behind Goldratt's analysis for the need of throughput accounting is that the world is no longer based upon flat delineations of costs. Businesses today, unlike the last century, do not commit the majority of their resources on factors, plants and other vehicles of heavy capital investment. Even more important, workers were thought of as variable costs because they were mostly low-skilled and thus easily varied through workforce demand. In today's world, these two moving forces, resources and labor are moving in opposite directions. Resources are becoming much more variable and formerly fixed costs are becoming flexible as a result of changing workflows. At the same time, skilled labor especially in key high skilled industries are becoming much more fixed and necessary than before as well. Thus, allocation of costs to labor or specific products is no longer accurate and rests on faulty assumptions. The foundational principle of Godratt's throughput accounting is that decisions are focused upon the goals of the organization rather than on its costs. All of the decisions made by the business can be related to their ultimate goal. Under this accounting system, individuals are viewed as assets rather than expenses, and traditional mechanisms of inventory and throughput are carefully analyzed and reconfigured to align with organizational goals. Goldratt argues that there are three fundamental relationships established through throughput accounting mechanisms, these are described below. Throughput accounting at the core is the "summation of all the gain from sales of all the individual products" (NOTATION): T= i p T p (p=individual products) This is the first principle of throughput accounting. At the same time, Operating expense is the summation of the individual subsets of operating expense. This would include all subsets of operating expense including employees and their manager resources, interest levels, energy costs, etc. OE = i c OE c (c=individual categories) The role of cost accounting within financial analysis was to develop a mechanism to search for a very good estimation in understanding how production lines impact each other and thus impacts the net profitability of companies. Goldratt argues that cost accounting was intended to make "apples and oranges into apples and apples". This would allow compan ies to have a true metric for cross-comparison. Throughput accounting solves the problem of allocation simply by dividing a company into product by product classes. It uses the formula: NP = i p (T - OE) p The reason that Throughput accounting is necessary according to Goldratt is that cost accounting has become too ineffective in forming solutions for modern corporate problems and diversification. Concepts such as cost drivers and activity based costing are both ineffective in their methodology in truly assessing corporate profit and stakeholders. These above principles make up the foundation of Godratt's Throughput Accounting analysis.By focusing upon the mechanisms for consistent business improvement, Throughput Accounting works

The eNotes Blog Dantes Confession and a New Circle of Hell forProfessors

Dantes Confession and a New Circle of Hell forProfessors This week, The Chronicle of Higher Education published a lengthy confession of a man who works for a custom essay writing service. It is a growing industry, as plagiarism detectors, like turnitin.com, are increasingly being used to catch cheating in both high schools and universities. Even though the price for a customized essay is high, about $20 per page, students are willing to pay for work that earns them a good grade.   Since the work is original, it passes the plagiarism detectors and professors often cannot take action against the cheater without proof of wrongdoing. The  writer, who calls himself Ed Dante for this article,  Ã‚  is unapologetic and largely blames our educational system for failing to properly meet the needs of its students.   Two of his most frequent types of buyers are ESL students and educationally deficient students (another other group who avails themselves of his services, he says, are lazy rich kids). Dante argues: Students who come to American universities from other countries find that their efforts to learn a new language are confounded not only by cultural difficulties but also by the pressures of grading. The focus on evaluation rather than education means that those who havent mastered English must do so quickly or suffer the consequences. My service provides a particularly quick way to master English. And those who are hopelessly deficient- a euphemism, I admit- struggle with communication in general. Another reason Dante cites for choosing a non-traditional career in writing is the money.   He claims to make about $66,000 a year,   typically much more than your average humanities professor. It may not be right, it may not be fair, but its out there. What can a professor do to combat this type of cheating?

Michael Phelps Coach Shares 3 Steps to Conquering Anything

Michael Phelps Coach Shares 3 Steps to Conquering Anything Ever wonder what sets peak performers apart from the rest of us? Or how it might be possible to reach that level of performance ourselves? Raw talent and intelligence are not enough. Here are the top 3 most important daily habits of champions, at least according to Olympic champion Michael Phelps’ coach–who certainly would know!1. Take Charge of Everything You Can ControlHaving a desire to be at the top of your field is one thing. But having a clear vision for what that looks like is another. There are so many variables in your career that you cannot control. What you can control is the process of doing what you need to do, i.e. getting into the pool every day and swimming fast, every single day, week, month, and year. Stay true to the journey, every step, and focus on the parts you have power over. You’ll be in a much stronger place to grasp your dreams when they come within reach.2.  Visualize Your Best SelfYou have to visualize yourself doing what you know y ou need to do to be the best. You have to do this every day. See yourself winning and achieving your goals. Don’t just fantasize, visualize. Run through your success in a variety of different scenarios with obstacles to overcome. Watch yourself winning. Your brain will get so used to that success, it will be that much more likely to help push you toward it when the time comes to perform. Form a strong mental picture of where you want to be in a year, and hold on tight. Your brain will help deliver opportunities to get you there.3. You Have to Put in the WorkHere’s the catch. You have to work hard. All the talent and drive and intelligence and mental preparedness in the world can’t get you where you want to go. Only hard work can. Practice practice practice. Michael Phelps practiced 365 days a year for 6 straight years to prepare for the Olympics. This is part of what programmed his brain and body for peak performance. Whatever your equivalent is- put in the time and effort. Run through that presentation not just one, but ten or a hundred more times before you give it.Working on these three daily habits won’t necessarily get you a record-breaking heap of Olympic medals, but it sure will help get you where you want to go. Find your equivalent and get to work.

Swot Essay Example | Topics and Well Written Essays - 250 words

Swot - Essay Example ariety of freight including sand, drill cuttings, propane, sulfuric acid, sodium hydroxide, wood products, feed products, and fertilizers (Lehigh Railway LLC , par 1). Moreover, they also boast of a full range of transloading services through their in-house manpower or through their reliable transload service sub-contractor. Railway is also proud of the quality of their highly-skilled employees. LRWY has weaknesses too which they are currently addressing. This includes their problem with the lease contracts with Norfolk Southern. They are also beset with problems of locomotive power shortages. A key opportunity of LRWY is the presence of Marcellus Shale in its location. Marcellus Shale formation is considered by some geologist as a major source of natural gas (Geology.com , par 2). People in the natural gas industry believe that the Marcellus can be a major contributor for the supply of natural gas for the United States. This development presents possible new business opportunities for LRWY. The threats being faced by the company is the presence of other railroad companies in the area. However, the main threat that confronts them is the possible cancellation of their lease contract with Norfolk. As in any infrastructure, they are also aware that their railway may be damaged through Acts of God such as earthquakes, floods or hurricanes. Presently, LRWY’s advantage over its competitors is its location or geography. Its line encompasses a large area from Athens to Laceyville, Mehoopany, Meshopen, Presswood, Rummerfield, Sayer, Skinners Eddy, Towanda, Ulster, Wyalusing, and Wysox (Lehigh Railway LLC , par 1). The strategic issue that will challenge LRWY is the probability of a high growth rate in its business as against their capability to meet the demands of a growing market. The company must be able to gear up for this future growth in its business if it wants to remain competitive. In the next five years, aside from coping with this expansion, the

Businesses within the Small Business Administration (SBA) 8A Program Research Paper

Businesses within the Small Business Administration (SBA) 8A Program - Research Paper Example The Federal Government of U.S has, since a long time, actively promoted the socio-economic welfare of small businesses. It is for this particular reason that the Small Business Administration (SBA) was founded to ensure that small businesses have the business acumen and resources to survive and grow in the competitive marketplace. Several opportunities have been provided to small businesses, including the securing of no-bid contracts and granting of prime contracts. In recent years, the 8(a) business development program by SBA has gained a lot of attention owing to generous incentives and growth capabilities offered by the SBA for businesses that meet the criteria for this program. The 8A program was introduced by the SBA with the main objective of assisting and facilitating small and disadvantaged businesses so that they can compete in the competitive marketplace. The popular 8(a) Business Development program is specifically targeted towards small businesses that where individuals who are â€Å"socially and economically† disadvantaged own and control at least 51% of such businesses (Koprince, 2012). Accordingly, it helps such entrepreneurs to get accessibility to mainstream business in the American market. Furthermore, it helps harness the aspirations of entrepreneurs by securing government contracts for such businesses to help them grow. The 8(a) program is separated into two stages: the developmental 4 year period and the transitional 5 year period (SBA.gov). The 8(a) program offers several benefits for disadvantaged entrepreneurs. Firstly, the program entails the â€Å"sole-source† no-bid contract which implies that participant businesses shall not have to bid for contracts and shall be the sole providers of the products to be provided under the contractual agreement (SBA.gov). This holds true for contracts under $3.5 million worth of

The Story of Us Essay Example for Free

The Story of Us Essay The film â€Å"The Story of Us† that we have watched last week gave me the full of insights and learned how difficult a marriage could be. This movie was about the story of a couple married for about fifteen years and from their perfect marriage, it almost ends up to divorce. They have two children that through them they still pretend as good parents even if their relationship is not working anymore. They decided to send their children to a summer camp so they can start their trial separation before telling it to their kids. In the end, because they still love each other and also for the best of their children, they had chosen to be strong and set aside all the detestation and hatred from them. People may engage into marriage thru various reasons. The majority of it is usually because of legal and social aspects. But the reality is that a person is not only associated to emotional or a feeling to someone but also it is the spiritual and religious aspects that lead to marriage. For me, a person who entered into a relationship with someone should be committed to the person he loved so the partnership between them will be strong and the marriage will be eternal. Marriage for me is not just a formal contract or agreement of two persons who love each other which is usually followed by a wedding ceremony. It is really important for me because it does not only show how relationship works but it is instituted and destined by God for the permanent relationship between a man and a woman. My point of view towards relationship to a good marriage is that it should not be developed according to our anticipation. With the conformity of a husband and wife that are married, they should not be separated and will stand for every hardship that they will encounter. As shown in the movie, like what almost happened to Ben and Katie Jordan in the film was because of misunderstandings and the exchange of throbbing with each other. There are lots of couples nowadays that encountered similar problems like this. They also run into a situation that a couple cannot stand each other anymore which mostly ends up to divorce. Some of the couples may reconcile and choose to stay what is ordained while thers may lead to worst thing like separation or divorce. This film had given me lot of insights on the views of marriage. I can say that this movie made me realized that in order for a marriage to work well it is important that couples should learn how to reconcile and accept the love of their partners despite of their dissimilarities. People choose to marry the person they like not just because of feelings, affection or likeness to their spouse but because they fated their love to God and willingness to accept all the differences of their partner. I have learned that not all marriage will lead to lifelong relationship unless they truly love and vowed to each other. I also recognized that not all relationships are perfect thus we should continue ourselves to be loyal, devoted and still faithful to love ones. This film also taught me on what we should do or the best thing to perform if a situation happened in the marriage life like this. Also, we should learn how to accompany with others and to forgive and forget the mistakes of a person you love which will direct into a good marriage life.

The Future of World Population :: Papers

The Present and Future The growth of the world's population is a problem that many people see as being addressed at some point in the future. While we live in a country that is reaping the benefits of a superpower, most of the United States is disconnected from the problems of population growth. In this paper, I intend to address three major issues. How long will we be able to support our planets food needs? How can we deal with population growth in the present day? And How come certain areas tend to have larger population growth than other areas? But first in this paper, I will see how the theories of sociologists and demographers fit into the Earth's population problem. THEORIES MARX 1818-1883 Karl Marx viewed a capitalist society as an economic system that was bound to fail. In Marx's opinion this eminent failure was based in the design of the system. According to Marx, In the capitalist economy there are two major groups; the bourgeoisie and the proletariat. The bourgeoisie are t hose who own the means of production, have the power. The proletariat are those that work for the bourgeoisie and are at their mercy. At the economy develops, the gap between the bourgeoisie and the proletariat grows wider and eventually all the capital is controlled by a small percentage of the population and the proletariat is forced into poverty. To someone with little or no sociological background, the above paragraph has nothing to do with population as a social problem. But if you fit population into Marx's description of the capitalist system, it is more relevant than at first glance. The best way to make this point clear is to provide two hypothetical situations. Family X is a middle class family that is doing well financially and they tend to have more children than if they are not making so much money. But as the bourgeoisie gains more and more control, families like X have their income driven down and ultimately have fewer children. Families must have enough money, food, etc. to survive. If they don't have these goods and they can't control their wages, they must control they must control an aspect of their lives that would allow them to survive, whether or not to have children. Family Z is an extremely wealthy family that more or less monopolizes an aspect of their economy. As the economy progresses, family Z is able to drive down the wages of their workers thereby increasing their profit.

Electronic Payment System

UNIT – 3 Electronic Payment System Contents †¢ What is E-payment? †¢ Types of E-payment Systems †¢ Digital Token-based Electronic Payment Systems †¢ Smart Cards & Electronic Payment Systems †¢ Credit Card-based Electronic Payment Systems †¢ Risk & Electronic Payment Systems †¢ Designing Electronic Payment System What is E-payment ? †¢ E-payment systems is the mechanism of transferring money over the Internet and technology used in this transfer is called as EFT. EFT defined as â€Å" any transfer of fund initiated through an e-terminal, telephonic instrument, or computer or magnetic tape to order, instruct or authorize a financial institution to debit or credit an account. It is mostly used for Business to business (B2B) commerce where companies doing business together tend to use electronic data interchange (EDI) system to send each other bills and notices of payment. E-Payment †¢ Information online offline $Products/services Adva ntages of E-Payment †¢ †¢ †¢ Increase payment efficiency – Reduce transaction costs – Enable trade in goods and services of very low value Increase convenience of making payments – Payment can be made swiftly and remotely using various devices Can be used for – e-commerce / e-Trade – For other purposes like paying bills, taxes, etc MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 1Categories of EFT Banking and financial payments * Large-scale or wholesale payment * Small scale or retail payment * Home banking Retailing payments * Credit cards * Debit cards On-line electronic commerce payments * Token-based payment system ~ Electronic cash ~ Electronic checks ~ Smart cards or debit cards * Credit card-based payment systems ~ Encrypted credit cards ~ Third-party authorization numbers Main factors when selecting e-payment method †¢ Availability (bank system, laws and regulations) †¢ The consideration of size and type of business, type of a target group of consumers, types of products and services. The ability to provide security against fraudulent activity †¢ Being cost effective for low value transaction fees †¢ Being protective of the privacy of the users †¢ Easy to use, and being convenient for purchasing on the web based e-business Token-based E-Payment Systems Electronic tokens are the new financial instruments which are in the form of electronic cash/money or checks.Electronic tokens are same as cash that is backed by bank. They are of three types: 1. Cash or real-time ( e-cash) 2. Debit or Prepaid (smart cards, e-purses) 3. Credit or Postpaid (credit/debit cards, e-checks) E-cash Electronic cash is a consumer-oriented electronic payment. Though it replaces the cash but still cash is quite dominant form of payment for three reasons: 1. Lack of trust in banking system 2.Inefficient clearing and settlement of non-cash transaction 3. Negativ e real interest rates paid on bank deposit Advantages of cash over credit cards †¢ It is negotiable †¢ Cash is a legal tender †¢ Cash is a bearer instrument †¢ It need require bank account to operate †¢ No risk on the part of acceptor that the medium of exchange may not be good MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 2Properties of e-cash E-cash must have following four properties: Monetary values: Interoperability Retrievability Security E-cash in Action †¢ E-cash based on cryptographic systems called â€Å"digital signature† †¢ †¢ †¢ This method involves pair of two numeric keys (very large number or integer) that work in tandem (cycle): one for encoding and another for decoding. Message encoded with one numeric key can only be decoded with other numeric key and none other. The encoding key is kept private while the decoding key is made public. E-checks †¢ E-checks are a nother form of electronic tokens. †¢ †¢ A new electronic version of paper check. E-check is an instruction to a financial institution to pay a given amount of money to the payee. It is a specially formatted email message sent over the Internet. It contains as the same information as on paper based check. Check service providers PayByCheck (http://www. paybycheck. com) CyberSource (http://cybersource. com) Transaction Payment Sequence in E-check system Payer Transfer e-check Payee Deposit e-check Forward e-check for payer authentication Bank Accounting Server MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof.Vanita Joshi, SOM, SIMS, Indore 3 Transaction Payment Sequence in E-check system †¢ Buyer must register with third party account server using electronic check. †¢ On receiving the check, the seller presents it to accounting server for verification and payment. †¢ The accounting system verifies the digital signature on the check. †¢ Proper ly signed and endorsed checks can be electronically exchanged between financial institutions through electronic clearing house. Advantages of E-Check †¢ They work in the same way as traditional checks. †¢ E-checks are suited for micro payments. Eliminate the need for expensive process reengineering and taking advantage of the banking industry. †¢ Financial risk is assumed by accounting server. †¢ E-checks create a float through third-party accounting server. They make money out of buyers and sellers transaction by providing deposit account. Difference b/w EFT and E-check †¢ In E-Cheque, electronic versions of the cheque are issued, received & processed. So, payee issues an E-Cheque for each payment. †¢ In EFT transfer automatic withdrawals are made for monthly bills or other fixed payments; no cheques are issued.Smart cards †¢ A smart card is a plastic card with an embedded microchip containing information about you. †¢ A smart card can store about 100 times the amount of information that a magnetic strip plastic card can store. †¢ A smart card contains private user information, such as financial facts, private encryption keys, account information, credit card numbers, health insurance information, etc. †¢ So far not successful in U. S. , but popular in Europe, Germany, Singapore and Japan to pay for public phone call, transportation.Mondex Smart Card †¢ Holds and dispenses electronic cash (Smart-card based, stored-value card) †¢ Developed by MasterCard International †¢ Requires specific card reader, called Mondex terminal, for merchant or customer to use card over Internet †¢ Supports micropayments and works both online and off-line at stores or over the telephone †¢ Secret chip-to-chip transfer protocol †¢ Loaded through ATM – ATM does not know transfer protocol; connects with secure device at bank MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi , SOM, SIMS, Indore Mondex Smart Card Processing Mondex Smart Card †¢ Disadvantages – Card carries real cash in electronic form, creating the possibility of theft – No deferred (overdue) payment as with credit cards – cash is dispensed immediately Types of Smart cards Smart cards are basically of two types: 1. Relationship-based Smart Cards 2. Electronic Purses and Debit Cards Relationship-based Smart Cards It is the enhancement of existing card services that offer customers far better options like: 1. Access to multiple accounts (debit, credit, e-cash) on one card. 2.Offer various functions ( cash access, bill payment, balance inquiry, fund transfer) 3. Multiple access options at multiple location using multiple access device (ATM, PC, PDA or screenphone etc) Electronic Purses and Debit Cards Electronic Purses or E- wallet are the smart cards embedded with programmable microchip that store sum of money instead of cash. Once a purse is loaded with money it require card reader vending machine which verifies its authenticity . Then after amount is deducted from balance. It shows the remaining balance on the card hence eliminate the small bill in busy stores.E-wallets when depleted can be recharged with money . MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 5 Credit cards-based e-payment system Credit Cards †¢ A credit card is a small plastic card issued to users dealing in e-commerce. Most credit cards are the same shape and size, as specified by the ISO 7810 standard. †¢ A credit card is different to a debit card in that it does not remove money from the user's account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user) to be paid to the merchant.Credit cards-based e-payment system Customers who purchase any goods send their credit card details to the service provider involved and the credit card organization will handle thi s payment. Online credit card payment has following categories: 1. Payment using plain credit card details 2. Payments using encrypted credit card details 3. Payment using third-party verification Entities involved in Credit card Transaction Consumer (Buyer or Card holder) Merchant (Seller) Card Issuer (Consumers’ Bank) Acquirer or Principal (Merchant’s Bank) Card Association (Visa, Master Card etc) Third party processor How an Online Credit Transaction WorksEncryption and Credit cards Encryption process starts when credit card information is entered into a browser and sent securely over network between buyer to seller. Encryption process includes following steps: 1. Customer presents his credit card information securely to merchant. 2. Merchant validates the authenticity of card holder 3. Merchant relays this information to its bank or on-line card processor. MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 6 4. The bank r elays the information to customer’s bank for authorization approval 5.The customer’s bank returns the credit card , charge authentication and authorization to the merchant Processing Payment with Encrypted Third-party authorization and Credit cards In third party processing, consumer register with third party on the internet to verify emicrotransaction. The companies providing third party payment service on internet are: ( First Virtual) †¢ http://www. fv. com †¢ http://www. openmarket. com †¢ http://www. 2checkout. com/ †¢ http://www. paypal. com/ Payment can be made by credit card via clearing house.Online Third-Party Processor (OTPPs) has following steps for buying information online. 1. Consumer registers for an OTPP a/c that is backed by credit card. 2. To purchase customer request merchant by her OTPP account no. 3. Merchant then contact the OTPP payment server with customer’s account no. 4. OTPP payment server verifies the customerâ₠¬â„¢s account no. for vender (merchant) & checks for sufficient funds. 5. OTPP server send a message to buyer that can be responded back by buyer as ; yes/agree; No/disagree; fraud. 6.If OTPP gets ‘Yes’ from customer, merchant is informed & then customer is allowed to download material. MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 7 Online Payment Processing using a Third-party Processor Risk in using Credit cards †¢ Customer uses a stolen card or account number to fraudulently purchase goods or service online. †¢ Many people who will be on the Internet have not even had their first Web experience. †¢ Hackers find the ways into an e-commerce merchant’s payment processing system and then issue credits to hacker card account numbers. Many users are also likely to be younger and have less access to credit and debit cards †¢ Many purchases they make will be micropayments. †¢ Credit cards canno t be used for large sums of B2B transactions †¢ Customer falsely claims that he or she did not receive a shipment Limitations of Online Credit Card Payment Systems †¢ Security – neither merchant nor consumer can be fully authenticated. †¢ Cost – for merchants, around 3. 5% of purchase price plus transaction fee of 2030 cents per transaction. †¢ People living in rural areas don’t have same access to computers and Internet that others do. Social equity – many people do not have access to credit cards (young and old age), disabled, individuals who are not computer savvy and individuals who cannot afford cards ( poor credit risk). Designing Electronic Payment Systems Following criteria should be satisfied while designing any new E-payment System: 1. Privacy 6. Pricing 2. Security 7. Standards 3. Intuitive Interface 4. Database Integration 5. Brokers MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Ind ore 8 Electronic Payment System UNIT – 3 Electronic Payment System Contents †¢ What is E-payment? †¢ Types of E-payment Systems †¢ Digital Token-based Electronic Payment Systems †¢ Smart Cards & Electronic Payment Systems †¢ Credit Card-based Electronic Payment Systems †¢ Risk & Electronic Payment Systems †¢ Designing Electronic Payment System What is E-payment ? †¢ E-payment systems is the mechanism of transferring money over the Internet and technology used in this transfer is called as EFT. EFT defined as â€Å" any transfer of fund initiated through an e-terminal, telephonic instrument, or computer or magnetic tape to order, instruct or authorize a financial institution to debit or credit an account. It is mostly used for Business to business (B2B) commerce where companies doing business together tend to use electronic data interchange (EDI) system to send each other bills and notices of payment. E-Payment †¢ Information online offline $Products/services Adva ntages of E-Payment †¢ †¢ †¢ Increase payment efficiency – Reduce transaction costs – Enable trade in goods and services of very low value Increase convenience of making payments – Payment can be made swiftly and remotely using various devices Can be used for – e-commerce / e-Trade – For other purposes like paying bills, taxes, etc MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 1Categories of EFT Banking and financial payments * Large-scale or wholesale payment * Small scale or retail payment * Home banking Retailing payments * Credit cards * Debit cards On-line electronic commerce payments * Token-based payment system ~ Electronic cash ~ Electronic checks ~ Smart cards or debit cards * Credit card-based payment systems ~ Encrypted credit cards ~ Third-party authorization numbers Main factors when selecting e-payment method †¢ Availability (bank system, laws and regulations) †¢ The consideration of size and type of business, type of a target group of consumers, types of products and services. The ability to provide security against fraudulent activity †¢ Being cost effective for low value transaction fees †¢ Being protective of the privacy of the users †¢ Easy to use, and being convenient for purchasing on the web based e-business Token-based E-Payment Systems Electronic tokens are the new financial instruments which are in the form of electronic cash/money or checks.Electronic tokens are same as cash that is backed by bank. They are of three types: 1. Cash or real-time ( e-cash) 2. Debit or Prepaid (smart cards, e-purses) 3. Credit or Postpaid (credit/debit cards, e-checks) E-cash Electronic cash is a consumer-oriented electronic payment. Though it replaces the cash but still cash is quite dominant form of payment for three reasons: 1. Lack of trust in banking system 2.Inefficient clearing and settlement of non-cash transaction 3. Negativ e real interest rates paid on bank deposit Advantages of cash over credit cards †¢ It is negotiable †¢ Cash is a legal tender †¢ Cash is a bearer instrument †¢ It need require bank account to operate †¢ No risk on the part of acceptor that the medium of exchange may not be good MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 2Properties of e-cash E-cash must have following four properties: Monetary values: Interoperability Retrievability Security E-cash in Action †¢ E-cash based on cryptographic systems called â€Å"digital signature† †¢ †¢ †¢ This method involves pair of two numeric keys (very large number or integer) that work in tandem (cycle): one for encoding and another for decoding. Message encoded with one numeric key can only be decoded with other numeric key and none other. The encoding key is kept private while the decoding key is made public. E-checks †¢ E-checks are a nother form of electronic tokens. †¢ †¢ A new electronic version of paper check. E-check is an instruction to a financial institution to pay a given amount of money to the payee. It is a specially formatted email message sent over the Internet. It contains as the same information as on paper based check. Check service providers PayByCheck (http://www. paybycheck. com) CyberSource (http://cybersource. com) Transaction Payment Sequence in E-check system Payer Transfer e-check Payee Deposit e-check Forward e-check for payer authentication Bank Accounting Server MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof.Vanita Joshi, SOM, SIMS, Indore 3 Transaction Payment Sequence in E-check system †¢ Buyer must register with third party account server using electronic check. †¢ On receiving the check, the seller presents it to accounting server for verification and payment. †¢ The accounting system verifies the digital signature on the check. †¢ Proper ly signed and endorsed checks can be electronically exchanged between financial institutions through electronic clearing house. Advantages of E-Check †¢ They work in the same way as traditional checks. †¢ E-checks are suited for micro payments. Eliminate the need for expensive process reengineering and taking advantage of the banking industry. †¢ Financial risk is assumed by accounting server. †¢ E-checks create a float through third-party accounting server. They make money out of buyers and sellers transaction by providing deposit account. Difference b/w EFT and E-check †¢ In E-Cheque, electronic versions of the cheque are issued, received & processed. So, payee issues an E-Cheque for each payment. †¢ In EFT transfer automatic withdrawals are made for monthly bills or other fixed payments; no cheques are issued.Smart cards †¢ A smart card is a plastic card with an embedded microchip containing information about you. †¢ A smart card can store about 100 times the amount of information that a magnetic strip plastic card can store. †¢ A smart card contains private user information, such as financial facts, private encryption keys, account information, credit card numbers, health insurance information, etc. †¢ So far not successful in U. S. , but popular in Europe, Germany, Singapore and Japan to pay for public phone call, transportation.Mondex Smart Card †¢ Holds and dispenses electronic cash (Smart-card based, stored-value card) †¢ Developed by MasterCard International †¢ Requires specific card reader, called Mondex terminal, for merchant or customer to use card over Internet †¢ Supports micropayments and works both online and off-line at stores or over the telephone †¢ Secret chip-to-chip transfer protocol †¢ Loaded through ATM – ATM does not know transfer protocol; connects with secure device at bank MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi , SOM, SIMS, Indore Mondex Smart Card Processing Mondex Smart Card †¢ Disadvantages – Card carries real cash in electronic form, creating the possibility of theft – No deferred (overdue) payment as with credit cards – cash is dispensed immediately Types of Smart cards Smart cards are basically of two types: 1. Relationship-based Smart Cards 2. Electronic Purses and Debit Cards Relationship-based Smart Cards It is the enhancement of existing card services that offer customers far better options like: 1. Access to multiple accounts (debit, credit, e-cash) on one card. 2.Offer various functions ( cash access, bill payment, balance inquiry, fund transfer) 3. Multiple access options at multiple location using multiple access device (ATM, PC, PDA or screenphone etc) Electronic Purses and Debit Cards Electronic Purses or E- wallet are the smart cards embedded with programmable microchip that store sum of money instead of cash. Once a purse is loaded with money it require card reader vending machine which verifies its authenticity . Then after amount is deducted from balance. It shows the remaining balance on the card hence eliminate the small bill in busy stores.E-wallets when depleted can be recharged with money . MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 5 Credit cards-based e-payment system Credit Cards †¢ A credit card is a small plastic card issued to users dealing in e-commerce. Most credit cards are the same shape and size, as specified by the ISO 7810 standard. †¢ A credit card is different to a debit card in that it does not remove money from the user's account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user) to be paid to the merchant.Credit cards-based e-payment system Customers who purchase any goods send their credit card details to the service provider involved and the credit card organization will handle thi s payment. Online credit card payment has following categories: 1. Payment using plain credit card details 2. Payments using encrypted credit card details 3. Payment using third-party verification Entities involved in Credit card Transaction Consumer (Buyer or Card holder) Merchant (Seller) Card Issuer (Consumers’ Bank) Acquirer or Principal (Merchant’s Bank) Card Association (Visa, Master Card etc) Third party processor How an Online Credit Transaction WorksEncryption and Credit cards Encryption process starts when credit card information is entered into a browser and sent securely over network between buyer to seller. Encryption process includes following steps: 1. Customer presents his credit card information securely to merchant. 2. Merchant validates the authenticity of card holder 3. Merchant relays this information to its bank or on-line card processor. MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 6 4. The bank r elays the information to customer’s bank for authorization approval 5.The customer’s bank returns the credit card , charge authentication and authorization to the merchant Processing Payment with Encrypted Third-party authorization and Credit cards In third party processing, consumer register with third party on the internet to verify emicrotransaction. The companies providing third party payment service on internet are: ( First Virtual) †¢ http://www. fv. com †¢ http://www. openmarket. com †¢ http://www. 2checkout. com/ †¢ http://www. paypal. com/ Payment can be made by credit card via clearing house.Online Third-Party Processor (OTPPs) has following steps for buying information online. 1. Consumer registers for an OTPP a/c that is backed by credit card. 2. To purchase customer request merchant by her OTPP account no. 3. Merchant then contact the OTPP payment server with customer’s account no. 4. OTPP payment server verifies the customerâ₠¬â„¢s account no. for vender (merchant) & checks for sufficient funds. 5. OTPP server send a message to buyer that can be responded back by buyer as ; yes/agree; No/disagree; fraud. 6.If OTPP gets ‘Yes’ from customer, merchant is informed & then customer is allowed to download material. MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Indore 7 Online Payment Processing using a Third-party Processor Risk in using Credit cards †¢ Customer uses a stolen card or account number to fraudulently purchase goods or service online. †¢ Many people who will be on the Internet have not even had their first Web experience. †¢ Hackers find the ways into an e-commerce merchant’s payment processing system and then issue credits to hacker card account numbers. Many users are also likely to be younger and have less access to credit and debit cards †¢ Many purchases they make will be micropayments. †¢ Credit cards canno t be used for large sums of B2B transactions †¢ Customer falsely claims that he or she did not receive a shipment Limitations of Online Credit Card Payment Systems †¢ Security – neither merchant nor consumer can be fully authenticated. †¢ Cost – for merchants, around 3. 5% of purchase price plus transaction fee of 2030 cents per transaction. †¢ People living in rural areas don’t have same access to computers and Internet that others do. Social equity – many people do not have access to credit cards (young and old age), disabled, individuals who are not computer savvy and individuals who cannot afford cards ( poor credit risk). Designing Electronic Payment Systems Following criteria should be satisfied while designing any new E-payment System: 1. Privacy 6. Pricing 2. Security 7. Standards 3. Intuitive Interface 4. Database Integration 5. Brokers MBA-II, EBF (FT-204C) Unit-3, Study material compiled by Prof. Vanita Joshi, SOM, SIMS, Ind ore 8

Compare and contrast the changes in the character of Baldini in Perfume and Mr. Samsa in The Metamorphosis Essay

Compare and contrast the changes in the character of Baldini in Perfume and Mr. Samsa in The Metamorphosis after they experience empowerment in their lives. Empowerment is when one increases his capability and status within family and career. Often the great satisfaction stemming from empowerment lead those who experience it to become complacent, especially towards those who once held more distinctive positions. This is especially evident the character development of Baldini and Mr. Samsa in Perfume and The Metamorphosis. In Perfume, Baldini is an unoriginal perfumer whose fame is surpassed by the talented Pà ¯Ã‚ ¿Ã‚ ½lissier. On the other hand, Mr. Samsa from The Metamorphosis is an unemployed man who relies on his son, Gregor to support the family financially; that is, before Gregor’s incredible transformation. These two characters are both feeble and insignificant in the beginning. However, after they become accomplished and experience empowerment, they begin to belittle those previously more successful than them through their actions and thoughts. Yet despite the similar transformations, the authors have different intentions because Baldini and Mr. Samsa have opposite endings in the story – one dies and the other prospers. This is an intriguing aspect because the characters develop in almost identical ways although they are written by authors of different cultures. Thus, this investigation will examine the extent to which Baldini and Mr. Samsa are comparable in their changes after they are subjected to empowerment. Baldini and Mr. Samsa are both initially weak in their appearances and actions. For example, Baldini is an incompetent perfumer who lacks confidence and originality before his transformation. This is illustrated by the dialogue in Chapter 10 when Baldini reiterates that he alone can create unique perfumes and Chà ¯Ã‚ ¿Ã‚ ½nier concurs repetitively. For example Baldini says, â€Å"As you know, I create my own perfumes†, â€Å"I alone give birth to them [perfumes]†, and â€Å"I am thinking of creating something†¦ that will cause a veritable furor†. This repetition of similar statements highlights the insecurity Baldini feels about his perfuming abilities. His frequent use of words and phrases such as â€Å"create† and â€Å"give birth† in contrast with his actual actions demonstrate his ineptitude and even cowardly nature. In addition, by changing the structure of this dialogue to a dramatic form, Sà ¯Ã‚ ¿Ã‚ ½skind suggests that both these characters are aware that they are putting on an act. This is further supported by Chà ¯Ã‚ ¿Ã‚ ½nier’s effort to please and conform to Baldini. When Baldini asks whether Pà ¯Ã‚ ¿Ã‚ ½lissier’s â€Å"Amor and Psyche† is â€Å"vulgar†, Chà ¯Ã‚ ¿Ã‚ ½nier responds with â€Å"totally vulgar†. Similarly, when Baldini claims that he â€Å"alone give birth to them [perfumes]†, Chà ¯Ã‚ ¿Ã‚ ½nier immediately replies â€Å"I know†. Chà ¯Ã‚ ¿Ã‚ ½nier’s automatic submissive responses indicate that these two characters are putting on a regular act. This effectively shows that Baldini routinely creates this dialogue to attempt to retain a sense of dignity and importance. However, in reality â€Å"he was old and exhausted† [chapter 11], and he is simply trying to conceal his faults and the fact that he is no longer a great perfumer. Readers can infer from this that Baldini is cowardly in nature, and this is corroborated by the fact that he resorts to claiming Pà ¯Ã‚ ¿Ã‚ ½lissier’s ‘Amor and Psyche’ as his creation because he cannot concoct his own perfume. However, Baldini becomes confident after his business prospers, thanks to Grenouille. In fact, he becomes so confident that he begins to believe that Grenouille is not so phenomenal after all, as this is shown as follows: â€Å"Baldini no longer considered him a second Frangipani or, worse, some weird wizard† [chapter 17] Although this is partly because Grenouille regularly errs intentionally to deceive Baldini into believing that he is â€Å"perfectly normal† [chapter 17], it illustrates Baldini’s increasing ego after he experiences empowerment. Similarly to Baldini before he succeeds in his perfuming business, Mr. Samsa from The Metamorphosis is weak and sickly before he experiences empowerment, which is prior to Gregor’s metamorphosis. He â€Å"used to lie wearily buried in bed† [pg27, lines 44~45]. He also â€Å"as a sign of joy only lifted up his arms†[pg28, lines 2~3], and this illustrates his perpetual exhaustion. Yet after Gregor becomes disabled and Mr. Samsa becomes the family’s backbone, Mr. Samsa is no longer weary all the time. In fact, he becomes alert, as â€Å"he was holding himself very erect† [pg28, line 10] and â€Å"his black eyes darted bright, piercing glances† [pg 35, lines 14~15]when he prepares to punish Gregor. Kafka carefully uses language here to illustrate Mr. Samsa’s newly-acquired confidence and vitality. For example, â€Å"darted† and â€Å"piercing† suggest energy and alertness, something he clearly lacked before. His eyes are â€Å"bright†, and this portrays Mr. Samsa as shrewd and vigilant. Furthermore, Mr. Samsa’s hair has â€Å"a scrupulously exact, gleaming part† [pg28, line 15]. â€Å"Gleaming† serves a similar effect as â€Å"bright†, and this reemphasizes Mr. Samsa’s newly-acquired energy and acuity. He is now a scrupulous and strict father, something in complete contrast with his former self. Evidently, Mr. Samsa has transformed from a feeble to a confident and strong-minded character due to his taste of empowerment. Mr. Samsa also seems to no longer care for his son after his transformation, as he does not hesitate to punish Gregor for frightening Mrs. Samsa by launching apples at him. Indeed, Gregor immediately realizes after his metamorphosis that â€Å"the father considered only the strictest treatment called for in dealing with him† [pg28, lines 23~25]. This indicates that Mr. Samsa has adopted a condescending attitude towards Gregor, who previously held a more successful and distinctive position than him. The example further strengthens the claim that both Baldini and Mr. Samsa start to act and think superciliously once they are superior to those once more prosperous than them. So far it can be observed from this analysis that both Baldini from Perfume and Mr. Samsa from The Metamorphosis are constantly exhausted and weak before they experience empowerment; that is, before Baldini’s perfume business prospers and before Mr. Samsa becomes more capable and acquires more power in his family than Gregor. They also both undergo similar transformations into arrogant and overconfident characters. Yet hidden behind this similarity is the difference between the authors’ intention in developing them in parallel ways. This discrepancy can be inferred from the characters’ contrasting endings in the stories. In Perfume, Sà ¯Ã‚ ¿Ã‚ ½skind arranges the plot so that Baldini dies when his house collapses in the river. This suggests that the author develops Baldini this way because he disapproves of people who become overconfident and condescending in manner when they flourish. It should also be noted that in contrast with The Metamorphosis, Perfume adopts a more fantastic, almost fairytale-like plot. This is supported by endless evidences, the most notable of which is Grenouille’s superhuman olfactory senses that allows Grenouille to create the incredible perfume that frees himself of his crime [chapter 49].Hence, Sà ¯Ã‚ ¿Ã‚ ½skind may have arranged Baldini to receive his deserved punishment as he would in an ideal world. In contrast with Baldini, Mr. Samsa ends with a prosperous and hopeful future despite a dead son. This may be because Kafka had always felt powerless in the presence of his father, who was robust and accomplished in his career. This is evident from Kafka’s letter to his father1, â€Å"†¦you do charge me with coldness, estrangements and ingratitude. And, what is more, you charge me with it in such a way as to make it seem my fault† This extract accurately summarizes the pressure and ineptitude Kafka had felt under his father, Hermann Kafka’s influence. The shadow that Hermann had always casted on him is reflected by the fact that Kafka portrays Mr. Samsa as a dominating character after his transformation. This gives us an insight to why Kafka has let Mr. Samsa thrive in the end despite the latter’s evil towards his son. In addition, since Kafka adopts realism in his writing style in The Metamorphosis, his intention in ending Mr. Samsa this way may be to illustrate the imperfection of the real world. By examining the authors’ intentions in Perfume and The Metamorphosis, Baldini’s and Mr. Samsa’s changes do not seem as similar below the surface. In conclusion, Baldini and Mr. Samsa experience seemingly almost identical changes in their characters when they acquire power and rank. Their confidence and ego increase, and as a result they begin to disparage others through their thoughts and actions. They transform from enervated and sickly characters to healthy and confident ones. Yet they have each metamorphosed this way for contrasting reasons; through Mr. Samsa’s prosperous end, Kafka reflects the shadow his domineering father had casted on him. In contrast, through Baldini’s unexpected and swift death Sà ¯Ã‚ ¿Ã‚ ½skind conveys his disapproval of the character development Baldini undergoes. Thus, it can be concluded that within the stories Baldini and Mr. Samsa both undergo almost identical development to a great extent. But this similarity ceases somewhat when the authors’ intentions and historical backgrounds are closely examined. The editions of the texts used to support this essay are: Perfume – Penguin Fiction Edition The Metamorphosis – Translated and Edited by Stanley Corngold – A Norton Critical Edition.

8 steps to managing your time effectively as an admin assistant

8 steps to managing your time effectively as an admin assistant If you’re an administrative assistant, chances are good that youre supposed to rock at everything related to time management.  This vital job skill might not come naturally to you, but it is something you can learn (and become great at) over time. Even if youre on top of things, it’s always possible to streamline even more.Here are 8 strategies for how to manage your time effectively (or even more effectively) while on the job.1. Stop procrastinating.Getting a sense of just how much you procrastinate is often a good motivator to beat this common habit once and for all. Put a little tick mark or X next to a task on your to-do list for every time you think about doing it, but then put it off for later. Start noticing how many tick marks pile up. Pretty crazy, right? Wouldnt it take a lot less of your mental energy just to get something done? Then, you could cross it off and move on!Tackle your tasks promptly. Handle each email or piece of paper only once, and then get i t off your desk. It’s not doing anyone any good just sitting there.2. Keep your inbox clean.Letting emails and snail mail pile up in your inboxes is the kiss of death. Learn how to quickly process information, synthesize it, and turn it into action. When you get a message of any sort, deal with it then. Sort your emails into file folders, leaving only the actionable items. Then breeze through those until you’ve got a blank slate.3. Don’t try to multitask.Unless youre a whiz at doing lots at once, multitasking often ends up meaning you don’t do any tasks. Tackling a lot of little things will decrease your productivity, no matter how good you are at splitting your focus. Practice mindfulness at work. Take it one task at a time. Go a little slower, and you’ll find your productivity and quality of output both increase. Dare to work slowly- if you do it right the first time, you’ll save time overall.4. Eliminate interruptions.Of course, youll get interrupted throughout the course of a day. Just don’t let each one derail you. Keep interactions short, and don’t put down your pen or change your body language to answer questions. Keep coworkers from lingering for a chat. Be friendly, but dismissive when you’re really in the zone.5. Cultivate efficiency.Don’t make extra work for yourself, and take unnecessary steps. Organize tasks in like bunches–for example, aim to make two trips to the copier per day instead of twelve. Plan your errands to maximize efficiency.6. Set a schedule.Set times for each day where you will check your email, then turn off your notifications- except for things marked urgent. You don’t have to read each one the second it comes in. As long as you’re checking multiple times a day- say for five minutes every hour, or ten minutes every two or three hours- you’re not going to miss anything crucial. (And see step 2: when you do take the time to read messag es, deal with them then and there!)7. Prioritize in order of importance.Always manage your workday so you’re dispatching the most important things first. Log an hour first thing (perhaps even before that first cup of office coffee and that first email check) on your most important project. Even if you can’t get that task done in that hour, you’ll have made serious progress and will be more likely to get back to it and complete it that day.8. Organize the spaces around you.Keep your desk clear of clutter. Keep your web addresses sorted alphabetically, and by category. Keep your to-do list lean and mean by revamping it every afternoon before you leave. If all elements around you are neat, clean, and orderly, its much easier to be efficient. Time spent looking for things is time better spent on completing tasks!

9 Tips to Improve Your Email Communication With Coworkers

9 Tips to Improve Your Email Communication With Coworkers Unless your office has gone back to carrier pigeons and pneumatic tubes carrying memos, email is the king when it comes to office communications. Those â€Å"new message† dings and badges follow us everywhere these days. That said, familiarity doesn’t necessarily mean there aren’t some best practices we should all follow.Here are 9 tips to remember as you craft your 50th email of the day.1. Fast response =/= good response2. No one gets points for being That Guy who corrects others’ grammar.3. Your snarky response: just don’t send it.4. Don’t link to your personal blog in your signature.5. If you absolutely must trash-talk about someone else on the email chain, ALWAYS double-check the â€Å"reply all† setting.6. There is such a thing as TOO formal in a work email.7. Don’t hit â€Å"send† while you’re still angry.8. Don’t be the person who drops by to discuss the email you just sent.9. At some point, your emai l server will push you to the brink of a nervous breakdown.

Career Plan Essay Example | Topics and Well Written Essays - 1250 words

Career Plan - Essay Example After pursuing this professional interest, I would like to work as an accountant in a medium sized or a large organization. As my dream job, accounting has five possible job specializations and career paths that would enable me to fulfill my professional interest in finance. These career paths include audit accounting, budget analysis, financial accounting, management accounting, and tax accounting. This essay discusses the career planning methodology and the process of developing a successful professional career. 2 DISCUSSION ANALYSIS 2.1 Career Planning Methodology Making a choice on a career is a very challenging undertaking. It entails more that making up one’s mind about what they want to do in life in order to earn a living. It involves selecting a profession in which one is competent in, a profession that one is interested in undertaking, and a profession that will provide one with employment opportunities and career development. As such, the career planning process has four main steps that individuals must consider to ensure that they end up following their professional interest. These steps include self-assessment, exploring and choosing career, planning the course of the career, and taking action through job application. 2.1.1 Self-assessment. ... This assessment provides an individual with a deeper understanding of self before venturing into the process of choosing careers. This is particularly significant in aiding one to choose the career that best fits their personality. 2.1.2 Exploring and choosing a career. Based on the results obtained after self-assessment, this step enables one to choose an occupation that best suits their personality and skills. In this step, one also explores different careers and the opportunities available in each of these careers to identify the ones that interest them the most. After a thorough research of the labor market, one should start eliminating the careers that do not interest them while still looking for more information on the available careers that interest them. This will eventually narrow down to a single career. This step should also take into consideration the subjects that one is studying in school to ensure that they are in line with their career of choice. 2.1.3 Planning the co urse of the career After selecting a career of choice, an individual should use this step to set out different career goals they intend to attain and the time required to attain these goals. This stage also includes the acquisition of the necessary career qualifications. In this stage, it is advisable to ask other professionals in the particular career about the required qualifications and the time required attaining these qualifications. One should also check on job advertisements and the required qualifications cross checking them with personal qualifications to determine whether one is still on the right track. Equally, it is important to check out the responsibilities of professionals in this career. This stage helps one to

Reflective of future thinking Essay Example | Topics and Well Written Essays - 1750 words

Reflective of future thinking - Essay Example However, there are a myriad of factors to be considered before developing innovations in a company, including the sustainability aspect of new products and technology. Overall, there are many changes in the world, as well as in the business world. These have mainly been realized because of the advanced changes in technology, which in turn influence the economy of a country and the global economy as well. Various industries today also exhibit great changes in their practice and products, compared to past decades. In this presentation, the main focus is on the car industry, which has not been left behind, with regard to technology. In the world of technology today, new inventions are developed to increase efficiency. Similarly, in the car industry, major new technologies are unveiled on a regular basis. These might be concerned with improving safety of cars, usefulness of cars, cars’ entertainment and luxury aspects, or for purely innovative reasons. Most of the new car innovati ons are exciting and have improved efficiency in various aspects of cars. The first car was invented in the year 1769. Today, this first car cannot be compared to the present supercars, in terms of technology and efficiency. As a result of increased technological advances in cars, today’s cars are more safe and reliable than they were in past years. In the car industry, technological advancement is key, therefore, it is expected that this industry will produce more technologically advanced cars in the future (Christidis, Hildalgo & Soria 2003). However, different factors will influence the extent to which technology is adopted in the car industry in future. These include the availability of fuel and level of pollution by cars. With regard to fuel, the car industry, compared to the pat years, has increased the number of cars that it manufactures, and reduced the cost of cars, thus making cars to be affordable to many people. This therefore, has led to high consumption of fuel, and it is feared that in future, fuel might become scarce, since it is being exhausted today at a high rate. Additionally, the car industry is regarded as one of the top industries that highly contribute to global warming. Most cars today use petroleum, which emits Carbon dioxide gas on combustion. Therefore, in future, the car industry might consider fuel economy and reducing global warming, when it develops new car models, as these factors will promote sustainability (Macrel & Cooper 2011). In order to analyze the future of cars with regard to technological improvement, this paper will employ different tools and techniques of foresight. The initial thinking about the future holds that there is so much unpredictability in the future. It is therefore, not possible for people to perfectly figure out what the future holds, since a myriad of factors, which are beyond human control, influence the events of the future. Human beings have different expectations about the future. Although no human being can peer into the future, these use their minds and imagination to create a picture of the future, which might be unrealistic. Overall, people expect positive things to happen in the future. However, these expectations might not be in line with what the future really holds. This

Movie Juxtaposition Review Example | Topics and Well Written Essays - 1000 words - 1

Juxtaposition - Movie Review Example The director of the film employed juxtaposing to emphasis on some themes that are presented in the film. For instance, we are aware that the colonizers interest in the island is due to their search for treasure such as gold. However, the film does present an unusual treasure in the form of a beautiful land and the people who we know as savage turn out to be social beings (Buescher and Ono 128). The ensuing theme of romance is captured well with a princess in the picture, and although Smith may not be a prince, he is a handsome guy fit to be a prince in the eyes of Pocahontas (133). Pocahontas, the protagonist in the movie, is a beautiful princess who is to be wedded off to a man she does not love. Already the movie presents the idea of a damsel in distress hoping for a rescue from a knight. The victory of love is supported by the possibility of a romance growing between the Smith a foreigner and Pocahontas. In winning the heart of Pocahontas, we have a contrasting image of the usual malevolent colonialism presented by john smith. According to Buescher and Ono, the colonial image presented by Smith is of a benevolent nature illustrated in the film through his accommodation feminism, environmentalism and multiculturalism. This nature of Smith juxtaposed with the nature of Governor Ratcliffe makes Smith a prince charming (135). Pocahontas represents a woman who dreams of an exciting life other than the provincial life. This representation of Pocahontas is juxtaposed with Smiths heroic figure; his colonizing experience makes him the perfect rescuer for Pocahontas. The director of the movie juxtaposes nature and Pocahontas in emphasising on the relationship between nature and women. However, we are aware of the beliefs the Indians have on powers present in nature. In this case, Pocahontas utilised the power of the wind eagle and other natural spirits to save smith from

Die fusion von hewlett-packard

Die fusion von hewlett-packard 1. Einleitung „Aus zwei Verlierern wird kein Gewinner, diese auf die Fusion von Hewlett-Packard und Compaq bezogene Aussage stammt von Bob Djurdjevic. (Schießel, 2001) Ist das wirklich wahr? Mà ¼ssen vermeintliche Verlierer auch immer solche bleiben? Resultiert daraus, dass aus zwei Gewinnern immer ein neuer wird? Fast tà ¤glich berichten die Medien à ¼ber Unternehmenszusammenschlà ¼sse, immer wieder ist die Rede von „Mergers and Acquisitions und jedes hat seine eigene Meinung darà ¼ber, ob die einzelnen Transaktionen erfolgreich waren oder nicht. Es muss sich niemand die Meinung eines Anderen aneignen, wenn er die Mittel dafà ¼r hat, sich seine eigene bilden zu kà ¶nnen. In unserer Seminararbeit geht es um Erfolgsfaktoren von „Mergers and Acquisitions. Wir mà ¶chten nicht nur die Erfolgsfaktoren vorstellen, sondern dem Leser ein Werkzeug in die Hand geben. Mit diesem Hilfsmittel sollte er in der Lage sein Unternehmenszusammenschlà ¼sse von einer neuen Perspektive, nà ¤mlich die des Kritikers, zu betrachten. Es wird ihm eine Checkliste als Grundschema vorgegeben, anhand dessen er seine persà ¶nliche Einstufung eines Zusammenschlusses in Erfolg bzw. Misserfolg vornehmen kann. Zum Schluss unserer Seminararbeit wenden wir unsere aus der Theorie abgeleitete Liste auf das Fallbeispiel Hewlett-Packard und Compaq an. Daher werden wir soweit es unsere Literatur erlaubt insbesondere auf „Mergers and Acquisitions in der IT-Branche eingehen. Eine detaillierte Erarbeitung von finanziellen Aspekten insbesondere Aktienkursen werden wir vernachlà ¤ssigen, weil wir davon ausgehen, dass diese Informationen fà ¼r jeden Interessenten leicht auffindbar sind. Auch das Thema der Unternehmenskultur wird nur erwà ¤hnt, aber nicht bearbeitet, da dieses Thema den Rahmen unserer Arbeit sprengen wà ¼rde. Jeder Leser unserer Seminararbeit soll im Nachhinein sein eigenes Werkzeug, d.h. seine eigene Checkliste zur Beurteilung von Unternehmenszusammenschlà ¼ssen erstellen und auch anwenden kà ¶nnen. Denn wir sind der Meinung dass Erfolg keine objektive sondern subjektive Einschà ¤tzung ist. Die Arbeit ist in die Kapitel Begriffliche Grundlagen, Motive fà ¼r Merger Acquisitions Transaktionen, Wandel der IT-Branche, Die drei Phasen der Fusionen, Kritische Erfolgsfaktoren von Mergers Acqusitions, Praxisbeispiel: Fusion von HP und Compaq sowie einem Fazit untergliedert. Im Kapitel Begriffliche Grundlagen werden die fà ¼r diese Arbeit notwendigen Begriffe definiert. Das Kapitel Motive fà ¼r Merger Acquisitions Transaktionen zeigt aus der Literatur, welche Motivationen Unternehmen haben eine Fusion oder Unternehmensà ¼bernahme zu tà ¤tigen. Im Kapitel Wandel der IT-Branche wird gezeigt wie sich der relevante Markt im laufe der Zeit verà ¤ndert. Im Kapitel Die drei Phasen der Fusionen wird detailliert der Ablauf einer Fusion aufgezeigt. Das Kapitel Kritische Erfolgsfaktoren von Mergers Acqusitions arbeitet aus der Literatur Erfolgsfaktoren heraus welche man bei einer Fusion wahrnehmen kann und arbeitet diese fà ¼r den IT-Markt aus. Im Praxisbeispiel Kapitel wird d ie herausgearbeitete Theorie an einem Vorgestellten Beispiel erprobt. Im Fazit wird der Wert und die Aussagekraft der Erfolgsfaktoren kritisch gewà ¼rdigt. 2. Begriffliche Grundlagen Das Kapitel Begriffliche Grundlagen ist der Grundstein der Arbeit. Es werden die Begriffe Mergers and Acquisitions und Erfolgsfaktoren definiert. Eine Eingrenzung und Definition der IT-Branche, wie sie in dieser Arbeit verwendet wird, erfolgt im dritten Unterpunkt. Alle nachfolgen Kapitel verwenden diese Begrifflichkeiten. 2.1 Mergers and Acquisitions Externe Wachstumsstrategien durch Unternehmenszusammenfà ¼hrungen in Form von Fusionen oder Erwerbe bieten Unternehmen eine Alternative zum internen Wachstum, die durch Aktivierung eigener Potenziale realisiert werden kà ¶nnten.[1] (Bea Haas, 2001: 171ff) Das fà ¼r Fusionen und Erwerbe stehende englische Begriffspaar Mergers and Acquisitions (MA) gehà ¶rt mittlerweile zum deutschen Sprachgebrauch (Picot, 2000: 15), wobei Merger auch als „Verschmelzung, „Vereinigung oder als „Zusammenschluss von Unternehmen à ¼bersetzt werden kann (Macharzina, 2003: 636). Acquistitions steht fà ¼r den „() Kauf ganzer Unternehmen bzw. einzelner Unternehmensteile oder strategischer Anteilspakete () (Mà ¼ller-Stewens, Spickers Deiss, 1999: 1). In einigen Bà ¼chern werden die beiden Wachstumsarten „Merger und „Acquisition nicht differenziert, sondern syonym verwendet (Schrà ¶der, 2007: 2). Falls doch eine Unterscheidung erfolgen soll, so kann diese durch die Bindungsintensità ¤t durch die Analyse rechtlicher und wirtschaftlicher Selbststà ¤ndigkeit vor und nach des Zusammenschlusses ausgearbeitet werden (Lucks Meckel, 2002: 23). „Nach der Richtung der Diversifikation kà ¶nnen horizontale, vertikale und konglomerate Zusammenschlà ¼sse unterschieden werden (Bà ¼hner, 1985: 28) Tà ¤tigen zwei Unternehmen der selben Branche eine MA so spricht man von einem horizontalen Zusammenschluss. Wenn die Unternehmen an einer Produktionskette liegen, so spricht von einem vertikalen Zusammenschluss. Um einen konglomeraten MA handelt es sich, wenn die Unternehmen weder auf Produkt- noch auf Marktebene Gemeinsamkeiten aufweisen.[2] (Bà ¼hner, 1990: 5f) Wir werden in unserer Arbeit die Begriffe „Merger und „Acquisition synonym verwenden. 2.2 Erfolgsfaktoren Nach (Daschmann, 1994: 1) versteht man unter Erfolgsfaktoren alle in einem Unternehmen vorkommenden Determinanten, Maßnahmen und Aktività ¤ten, die den zukà ¼nftigen Erfolg positiv beeinflussen kà ¶nnen. Um seine Wettbewerbsfà ¤higkeit zu erhà ¶hen muss ein Unternehmen seine Erfolgsfaktoren, d.h. seine eigenen Stà ¤rken und Mà ¶glichkeiten kennen und sie bei seinen strategischen Entscheidungen heranziehen. Auch seine Investition sollten gezielt in deren Richtung gelenkt werden um seinen wirtschaftlichen Erfolg verbessern zu kà ¶nnen. (Mandorf, 2008) Der Unternehmenserfolg hà ¤ngt zum grà ¶ÃƒÅ¸ten Teil von sog. kritischen Erfolgsfaktoren ab, wà ¤hrend die meisten anderen Faktoren diesen untergeordnet sind. (Hoffmann, 1986: 832) 2.3 IT-Branche Bei der Definiton der IT-Branche treten methodische Probleme auf, denn es handelt sich um einen à ¼ber mehrere klassische Branchen verteilten Sektor. Selbst die offizielle Wirtschaftsstatistik weist keine allgemein gà ¼ltige Begriffsbestimmung auf, sondern zà ¤hlt einzelne IT-relevante Wirtschaftsbereiche zusammen. (Langenstein, 2006: 14f) Somit ist der IT-Sektor nur durch die Angabe der betroffenen Wirtschaftszweige definierbar. (Menez, Munder, , Tà ¶psch, 2001) In unserer Arbeit stellen wir nur eine Mà ¶glichkeit zur Abgrenzung des IT-Sektors vor: Nach dem Global Industry Classification Standard (GICS) umfasst der IT-Sektor die folgenden allgemeinen drei Bereiche: Softwaretechnologie und Softwaredienstleistung, diese umfasst unter anderem Unternehmen, die Softwareentwicklung in verschiedenen Bereichen wie z.B. dem Internet und Datenbanken anbieten. Auch Beratungs- und Dienstleistungsunternehmen der Informationstechnologie gehà ¶ren in diese Kategorie. Hardware und Ausrà ¼stung, in diesen Bereich fallen die Hersteller und Vertreiber von elektornischen Gerà ¤ten und den zugehà ¶rigen Intsrumenten. Halbleiter und Halbleiterausrà ¼stungs Hersteller 3. Motive fà ¼r Merger Acquisitions Transaktionen Nachdem die begrifflichen Grundlagen im 2.Kapitel geschafft wurden sind, stellen wir nun die Antriebskrà ¤fte, die das Handeln der Unternehmen auf die Akquisitionsziele ausrichten, vor. (Bamberger, 1994: 59) In diesem Kapitel werden die wichtigsten und hà ¤ufigsten Motive fà ¼r MA dargestellt. Achleitner (2002) unterscheidet die Fusionsmotive in wertmaximierende Motive, die generell durch Ertrags- und Kostensynergien ergeben ist, und die nicht wertmaximierende Motive. (Kirchhoff, 2009: 20). Dem zu Folge kategorisiert der (Achleitner, 2002) die Fusionsmotive in Strategische, finanzielle und persà ¶nliche Motive. 3.1 Strategische Motive In diesem Unterpunkt werden die strategischen Motive von Unternehmen in die Punkte Synergieeffekte, Ausnutzung von Marktmacht und Markterweiterung unterteilt und dargestellt. Alle drei Punkt sind von gleicher Bedeutung. 3.1.1 Synergieeffekte Ein wichtiges Motiv fà ¼r MA stellt die Realisierung von Synergieeffekten dar. Es werden die bereits vorhandenen Ressourcen beider oder mehrer Kooperationsunternehmen gebà ¼ndelt. Damit wird auf verschiedenste Art und Weise das Ziel verfolgt, die Effizienz in Unternehmen zu erhà ¶hen und Kosten einzusparen. Aufgrund von Grà ¶ÃƒÅ¸envorteilen ( Economie of scale ) kà ¶nnen produktionswirtschaftliche Synergieeffekte erzielt werden. Dabei sinken die Stà ¼ckkosten durch die Massenproduktion. Dies fà ¼hrt teilweise dazu, dass Rationalisierungsgewinne durch Personalabbau, erzielt werden. (Budzinski Kerber 2003: 42; Park 2004: 51f). Weiterhin treten aufgrund von Verbundvorteilen ( Economies of scope ) operationale Synergieeffekte auf. D.h. die Leistung, die jedes Unternehmen unabhà ¤ngig von einander erbracht hat, wird zusammengefasst. Auf dieser Weise kà ¶nnen hà ¶here Skalenertrà ¤ge erzielt werden. In vielen Branchen mit hohen Investitionskosten ist es von zentraler Bedeutung Forschungs- und Entwicklungs-Synergieeffekte zu erzielen, damit durch Unternehmenszusammenschà ¼sse sowohl die Kosten, als auch das Risiko gestreut werden kann (Budzinski Kerber 2003: 44; Park 2004: 52). Ist die Grà ¶ÃƒÅ¸e eines Unternehmens gestiegen, so kann man von den finanzwirtschaftlichen Synergieeffekten profitieren, da das Unternehmen fà ¼r die potentiellen Anleger attraktiver erscheint. Dies erleichtert die Aufnahme in Bà ¶rsenindices und somit den Anstieg der Kreditlinie bei Banken (Kleinert Klodt, 2002: 43). 3.1.2 Ausnutzung von Marktmacht Bei einem Zusammenschließen erhoffen sich die Unternehmen zum einen Wettbewerber aus dem Markt genommen zu haben und zum anderen den Marktanteil des à ¼berlebenden Unternehmens zu steigern. Die dadurch gestiegene Marktmacht der Unternehmen ermà ¶glicht ihnen eine flexiblere Preisgestaltung gegenà ¼ber Kunden sowie Lieferanten. Somit kann die Marktmacht zu einem erheblichen Wettbewerbsvorteil auf dem Markt beitragen. Die Unternehmen kà ¶nnen durch MA Eintrittsbarrieren fà ¼r die zukà ¼nftigen Konkurrenten aufbauen. Durch den Nichteintritt weiterer Konkurrenten sichern sie sich eine stabilere Preismacht auf dem Markt. (Klopfer, 2008: 44) 3.1.3 Markterweiterung Ein weiteres klassisches Ziel der strategischen Unternehmensakquisition ist das Streben nach dem Marktwachstum. Damit verfolgen Unternehmen in erster Linie das Ziel der Umsatzsteigerung und der Stabilisierung ihrer Ertrà ¤ge. Die Umsatzsteigerung resultiert aus dem Eintritt in neue attraktive Mà ¤rkte und aus der Erhà ¶hung der Wertschà ¶pfungspotenziale. Bei der geographischen Expansion wird zwischen den grenzà ¼berschreitenden, so genannten „Cross- Border- Zusammenschlà ¼ssen und den nationalen MA differenziert. (Jansen Kà ¶rner, 2000: 18) (Jansen, 2000b: 388) Es ist beobachtbar, dass in den vergangenen Jahren die grenzà ¼berschreitenden Zusammenschlà ¼sse mehr an Bedeutung gewonnen haben. Die Unternehmen kà ¶nnen sich dadurch den langwierigen und risikoreichen Eigenaufbau in einem fremden Land ersparen. (Amihud Lev , 2002: 21). Allerdings sind dabei die kulturellen oder sprachlichen Unterschiede nicht zu unterschà ¤tzen. In diesem Zusammenhang bestà ¤tigt auch Wolfgang Wagner, Senior Partner und CEO der PricewaterhouseCoopers Eurofirms ( PWC ) die Relevanz dieses Motivs mit der Aussage: CEOs kleiner und großer Unternehmen aus der ganzen Welt sehen zunehmend Wachstumsmà ¶glichkeiten fà ¼r ihre Unternehmen. Sie nutzen die Globalisierung nicht mehr primà ¤r zum Outsourcing oder der Produktionsverlagerung in Niedriglohnlà ¤nder, sondern um neue Produkte, neue Absatzmà ¤rkte und neue Kunden zu finden (presseportal.de, 2009) 3.2 Persà ¶nliche Motive Als treibende Kraft fà ¼r Fusionen wird hà ¤ufig das Management genannt. Unterstellt man einen perfekten Kapitalmarkt, so ist nach Manne (1965) der Kapitalwert einer Unternehmung direkt von der Leistung des Managementteams der Unternehmung abhà ¤ngig. Er folgert, dass eine schlechter bewertete Unternehmung von einem ineffizienten Managementteam geleitet wird und bei einer à ¼bernahme von einem effizienteren Managementteam abgelà ¶st wird. Dieses kann durch einen besseren Fà ¼hrungsstil die Effizienzpotentiale als Gewinn realisieren. Bei einem intensiven Unternehmenskontrollen Wettbewerb der Managementteams wà ¤ren keine Freirà ¤ume fà ¼r deren eigenen Ziele oder Interessen vorhanden. Nach dieser Theorie sind die Interessen der Eigentà ¼mer und des Managementteams kongruent. Da die Prà ¤missen in der Globalisierten Welt von Heute nicht zutreffen und es keinen perfekten Kapitalmarkt gibt, entstehen Freirà ¤ume fà ¼r das Managementteam um seine von den Eigentà ¼mern abweichenden Ziele zu verfolgen. Es entsteht nach Bà ¼hner (1990, 19) eine Pricipal- Agenten Situation zwischen Eigentà ¼mer und Management. Das Hauptziel der Eigentà ¼mer ist eine Gewinnmaximierung. Das Hauptziel des Managements kann hiervon abweichen. Es kann nach persà ¶nlichen Motiven handeln, um sein eigenes Einkommen zu maximieren. Die Gehà ¤lter hà ¤ngen von vielen Faktoren ab wie z.B. der Grà ¶ÃƒÅ¸e der Unternehmung, der Umsatzhà ¶he, der Mitarbeiterzahlen oder der Aktienkurse. Diese Faktoren kà ¶nnen vermeintlich durch eine Fusion oder à ¼bernahme herbeigefà ¼hrt werden. Das eigene Prestige und der Bekanntheitsgrad sind Eigenschaften des Managementteams, welche durch eine Fusion gesteigert werden kà ¶nnen und sich auf das eigene Einkommen in der Zukunft positiv auswirken kà ¶nnen, aber nicht der Gewinnmaximierung der Unternehmung dienen. Es besteht nun das Risiko von „unprofitablen Fusionen oder à ¼bernahmen von Managementteams, falls diese nicht von den Eigentà ¼mern kontrolliert werden. Eine Kontrolle von den Eigentà ¼mern kann durch ein Anreizsystem geschehen. Nach Faulli-Oller und Motta (1996) mà ¼ssen mit dem Managementteam Vertrà ¤ge geschlossen werden, die einen Anreiz fà ¼r die Entlohnung geben. Sie schlagen eine à ¼bernahmesteuer vor, diese wà ¼rde dem Management von dem Gehalt abgezogen werden. Die Entscheidung fà ¼r eine à ¼bernahme soll aber bei dem Managementteam bleiben, da diese sich mit dem Tagesgeschà ¤ft beschà ¤ftigen und sich besser mit der Materie auskennen. Fusionen dienen auch dem Management als Schutz vor der eigenen à ¼bernahme. Je grà ¶ÃƒÅ¸er ein Unternehmen ist, umso schwerer ist es sie zu à ¼bernehmen. Als Folge dieser Tatsache entsteht fà ¼r das Management ein Arbeitsplatz und dieser ist einer geringeren Bedrohung von Außen ausgesetzt. Als Zusammenfassung kann man bestà ¤tigen, dass es ein heterogenes Feld zwischen den Eigentà ¼mern und dem Management gibt. Neben den strategischen Motiven geben die Management Motive eine Erklà ¤rung dafà ¼r, warum es so viele und auch unprofitable Fusionen gibt. Das gelingen einer Fusion hà ¤ngt somit zum Teil auch von dem Management und dessen Interessen ab. 3.3 Branchenspezifische Motivationen In der Literatur lassen sich spezifische Motivationen feststellen, die insbesondere fà ¼r die IT-Branche gelten. Nach Fox (2002) ist die Motivation von Technologie Erwerb durch MAs in der IT-Branche sehr hoch. Das fà ¼hrt er auf den Wandel in der IT-Branche und dem damit entstehenden Druck sich Sektoren à ¼bergreifend zu positionieren und zu einem Anbieter von Produkten aller Sektoren zu werden. Die schnellste Là ¶sung eine Technologie zugà ¤nglich zu machen, ist der Zusammenschluss mit einem Unternehmen, welches diese Technologie besitzt. Wenn ein sektorenà ¼bergreifendes Angebot von Produkten geboten wird, haben die Unternehmen den Vorteil, dass sie sich nicht auf ein Segment fixieren und von den Wachstumsschwankungen abhà ¤ngig sind. Insbesondere ist dieses bei dem PC-Sektor so. Dieser Sektor ist sehr von der Performance der anderen Mà ¤rkte abhà ¤ngig und neigt zu starken Schwankungen. Die Motivation sich horizontal zu erweitern hà ¤ngt stark von dem Wandel in der IT-Br anche ab. Denn die Unternehmen mà ¼ssen sich den Nachfragen an diesem Markt anpassen. (Westerwelle, 2003: 41ff) 4. Wandel der IT-Branche In den Kapiteln vorhergehenden Kapiteln wurden die Begriffe dieser Arbeit definiert und die mà ¶glichen Motivationen fà ¼r MA insbesondere des IT-Sektors vorgestellt. Wir bleiben in diesem Kapitel in der IT-Branche und erlà ¤utern die anhaltenden Verà ¤nderungen der Branche. „Die IT-Branche ist im Fusionsfieber. Unternehmen versuchen, ihre Konkurrenten durch Expansion zu à ¼berrunden und sich neue Geschà ¤fte zu erschließen. Immer mehr Firmen setzten auf Dienstleistungen. (Berger, 2009) In Anlehnung von Westerwelle (2003: 37ff) kann man den Wandel wie folgt skizzieren. Mit dem Erfolg von Dell, welcher durch die Sà ¤ttigung des PC-Marktes und seinen sehr kostengà ¼nstigen direkt Vertrieb von PCs her kam, wurde der PC-Sektor Ende 2000 zu einem margenschwachen Sektor. Alle großen PC-Hersteller außer Dell machten in dem Jahr ab 2001 große Verluste von Marktanteil dieses Sektors. Der Sektor hatte kaum Wachstumspotential da eine Sà ¤ttigung am Markt bestand. Diese Sà ¤ttigung kam von den Leistungs-Level der PCs zu diesem Zeitpunkt, denn ihre Leistung war ausreichend und folglich waren die Unternehmen nicht mehr willig hohe Kosten fà ¼r die Herstellung von leistungsstà ¤rkerem PCs zu à ¼bernehmen. Die Kundenwà ¼nsche, insbesondere die der lukrativen Großkunden, à ¤nderten sich. Sie gingen zu einem Komplettangebot à ¼ber. Diese Kunden wollten eine ganze PC Infrastruktur kaufen und nicht mehr nur einen PC. Um das zu gewà ¤hrleisten mussten große Unternehmen wie IBM, HP oder Compaq ihre Angebotspalette stetig ausbauen. Da die Technologien im IT-Markt schnelllebig sind, behalfen sich diese Unternehmen einer schnellen Methode, die der MAs, um sich wichtige Technologien zugà ¤nglich zumachen. Der IT-Dienstleistungssektor welcher am margenreichsten ist wurde von IBM dominiert, da sich z.B. IBM auf die Integration von Netzwerkstrukturen verstand wurden von diesem Unternehmen nicht nur das Know-how sondern auch die spezifische Hardware bezogen. Dieses ist Resultat der Erkenntnis, dass eine effiziente und sehr gut abgestimmte Netzwerkstruktur nur mit abgestimmten Komponenten aus einer Hand preiswert realisiert werden kann. Diese gestiegene Nachfrage von effizienten Netzwerkstrukturen kam durch einen Wandel, die Einfà ¼hrung von Verteilung des Unternehmens à ¼ber das Internet. Die Nutzung des Internets von Kunden, hat einen Wandel im IT-Markt gebracht. Was die Spieler in diesem Markt noch immer zu massiven Verà ¤nderungen Ihrer Angebote zwingt. Mit diesem Kapitel werden die Branchenbedingungen von HP und Compaq wà ¤hrend unserer Untersuchungszeitspanne bis zum Jahr 2003 erà ¶rtert. 5. Die drei Phasen der Fusionen In dem folgenden Kapitel werden die Schritte eines Fusionsprozesses allgemein erklà ¤rt. Der Fusionsprozess là ¤sst sich grob in drei Phasen unterteilen, die chronologisch aufeinander bauen. Sie lauten Pre Merger- , Merger- und Post Mergerphase. Diesen Phasen werden wir, die von uns betrachteten, Erfolgsfaktoren zuordnen. 5.1 Pre Mergerphase Am Anfang des Prozesses steht die Pre Mergerphase. In dieser Phase wird zunà ¤chst eine allgemeine Grundstrategie formuliert. Bei dieser Formulierung geht es darum zuerst die Stà ¤rken und Schwà ¤chen des eigenen Unternehmens herauszuarbeiten und zu analysieren. Somit kann à ¼berprà ¼ft werden, ob das Unternehmen à ¼berhaupt eine Fusion benà ¶tigt. Als Abschluss des ersten Schrittes wird ein strategisches Konzept erstellt, welches die zusammenfassenden Erkenntnisse à ¼ber die Unternehmensanalyse sowie Motive und Ziele fà ¼r die bevorstehende Fusion beinhaltet. Ferner kà ¶nnte man aus dem erstellten Konzept erkennen, welche Bindungsintensità ¤t fà ¼r das Unternehmen besser geeignet wà ¤re. (Grube Tà ¶pfer, 2002: 44ff). Es ist wichtig, dass das Konzept sorgfà ¤ltig bearbeitet wird, da letztendlich der Erfolg oder Misserfolg einer Fusion bereits in dieser Phase bestimmt wird. (Middelmann, 2000: 113) „Diese Kenntnisse erleichtern in der anschließenden Phase die Suche nach dem optimalen Partner, das so genannte Screening (Stegmann, 2002: 32) Dementsprechend werden die mà ¶glichen Kooperationspartner auf einer Liste aufgefà ¼hrt und nach wichtigen Kriterien wie beispielweise potenziellen Synergieeffekten bewertet. (Rà ¶dl, 2002: 39) Fà ¼r die Kandidatenauswahl sollte das Unternehmen einen kontinuierlichen und systematischen Prozess einfà ¼hren, bis sie den optimalen Partner gefunden haben. (Wirtschaftswoche, 2008, Nr. 28) 5.2 Merger- Phase Die Merger- Phase beginnt nach der erfolgeichen Suche eines geeigneten Fusionspartners und verlà ¤uft à ¼ber Verhandlungsstrategien bis hin zum endgà ¼ltigen Vertragabschluss. Um eine endgà ¼ltige Entscheidung zu treffen, ob der potenzielle Fusionspartner wirklich geeignet ist, werden externe Spezialisten wie Unternehmensberater und Wirtschaftsprà ¼fer zur Hilfe gebeten, diese bilden das sog. Due Dilligence- Team. Um die in der Pre Merger- Phase formulierten Ziele der angestrebten Fusion erreichen zu kà ¶nnen, à ¼berprà ¼fen die Spezialisten, wo sich die Schwà ¤chen des eigenen Unternehmens und die Stà ¤rken des potenziellen Partners ausgleichen. Dieses Vorgehen wird in der Literatur als strategisches Fit bezeichnet. (Middelmann, 2000: 114) „ Due Dilligence bedeutet, dass die zu erstellenden Analysen mit hà ¶chster Sorgfalt durchzufà ¼hren sind. Dabei sollen Gefahren, aber auch Chancen des bevorstehenden Unternehmenszusammenschlusses erkannt werden. (Scott, 2002: 14) Kommt das betrachtete Zielunternehmen als Fusionspartner in Frage, so werden in einer weiteren Analyse seine Wirtschaftlichkeit, seine Geschichte und das finanzielle Risiko, das mit der angestrebten Fusion aufkommen wà ¼rde, unter die Lupe genommen. (Middelmann, 2000: 114f) Falls die Analyse ein positives Ergebnis liefert und das Zielunternehmen zu einem Zusammenschluss bereit ist, wird unter der Prà ¤misse die rechtlichen Kartellbedingungen nicht zu verletzen, Vertragsverhandlungen gefà ¼hrt und letztendlich ein Vertrag ausgearbeitet und abgeschlossen. 5.3 Post Merger- Phase Am Ende des Fusionsprozesses steht die Post Merger- Phase an, die sich sehr intensiv mit der Integration und deren Planung beschà ¤ftigt. Die Integrationsplanung orientiert sich an den, in den vergangenen Phasen ermittelten, Potenzialen vom Fusionspartner. Eine vorhergehende detaillierte Planung der Integration ist wichtig, um von den Synergien optimal gebrauch machen zu kà ¶nnen. (Grube Tà ¶pfer, 2002: 45ff) Die Aufgabe beider Unternehmensfà ¼hrungen ist es nun, trotz der gravierenden Unterschiede in den Bereichen wie Kultur und Organisation, ein neues einheitliches Unternehmen zu errichten. Des Weitern mà ¼ssen alle betrieblichen Ablà ¤ufe in der Fertigung und Steuerung, wie Controlling, Rechnungswesen und Personal, aufeinander abgestimmt sein. (Middelmann, 2000: 118f) Nicht zu vernachlà ¤ssigen ist die intensive Zusammenarbeit mit der Personalorganisation, damit Unsicherheit und eine eventuelle Demotivation bei den Mitarbeitern vermieden werden kann. Hier spricht man von der internen Kommunikation im Unternehmen, die gestà ¤rkt werden muss. Neben der internen Kommunikation spielt die externe Kommunikation auch eine sehr große Rolle. Das heißt, dass die Gesprà ¤che und Informationen à ¼ber den Ablauf der Fusion in den Veranstaltungen und Verà ¶ffentlichungen sehr gezielt und vertrauenerweckend sein mà ¼ssen, um die Skepsis von Kunden, Lieferanten und Wettbewerbern gegenà ¼ber dem neu entstandenen Unternehmen abzubauen. (Middelmann, 2000: 118f) Die besondere Schwierigkeit dieser Phase liegt bei dieser Integrationsaufgabe. Gelingt der reibungslose Zusammenschluss nicht oder nur unzureichend, so war die Fusion nicht erfolgreich. Darà ¼ber hinaus sollte das Unternehmen die Dauer des Integrationsprozesses genau festlegen, denn meistens treten die gewà ¼nschten Synergieeffekte der Fusion erst nach mehreren Jahren nach der Fusion ein. (Grube Tà ¶pfer, 2002: 45ff) Wird der Integrationsprozess zu kurz bemessen, so kà ¶nnte die Fusion als Misserfolg ausgelegt werden, was wiederum bà ¶se Konsequenzen, wie z.B. extreme Kursschwankungen in der Bà ¶rse und gar die Aufhebung der Fusion, mit sich bringen kà ¶nnte. Der letzte Schritt dieser Phase beinhaltet die Erfolgskontrolle. Es werden dabei die Ergebnisse der Fusion mit der Zielsetzung der Anfangsstrategie verglichen und eine Bilanz gezogen. Werden Abweichungen und Probleme bei der Umsetzung erkannt, wird versucht diesen entgegen zu steuern. 6. Kritische Erfolgsfaktoren von Mergers Acqusitions 6.1 Due Dilligence Due Dilligence hat eine sehr zentrale Bedeutung in allen Mergers und Akqusitionspozessen. Dieser Faktor kà ¶nnte sogar alleine den Erfolg oder Misserfolg einer Fusion bestimmen. „ Der Begriff „Due Diligence stammt aus den angelsà ¤chsischen Rechtswissenschaften und bedeutet unzureichend à ¼bersetzt „gebà ¼hrende Sorgfalt. Der Begriff hat à ¼ber die juristische Verwendung hinaus bei Mergers Acquisitions Anwendung gefunden und stellt bei heutigen Projekten die Grundlage zur Bewertung und Analyse einer Organisation dar. (Bischoff, Jà ¼rgen M.,2007 : 73 ) Im Wesentlichen verfolgt „ Due Dilligence drei Hauptziele: Endecken und beschreiben der wesentlichen Unterschiede zwischen den beiden Unternehmen und deren mà ¶gliche Auswirkungen Generierung von Integrationsrichtlinien sowie von Ansatzpunkten fà ¼r die erfolgreiche Gestaltung der Post-Merger-Phase Unterstà ¼tzung bei der Kaufentscheidung, der Preisfindung sowie zur Risikominimierung (Bischoff, Jà ¼rgen M., 2007 : 74) Die gewonnen Informationen von Due Dilligence bestimmen letztendlich den Umfang und den Schwerpunkt in der Post Merger Integration. Das Due Dilligence- Team besteht aus externen Spezialisten wie Wirtschaftsprà ¼fern, Anwà ¤lten und Unternehmensberatern und internen Mitarbeitern. Die Unternehmen arbeiten bewusst mit unternehmensexternen Spezialisten, weil die eigenen Mitarbeiter emotional und nicht neutral handeln kà ¶nnten. Das Due Dilligence- Team muss ein hohes Maß an Pflichtbewusstsein mitbringen, damit die Grà ¼ndlichkeit der Bewertung und die Interessen des Unternehmens nicht darunter leiden. Die Unternehmensbewertung sollte explizite Informationen à ¼ber den ausgewà ¤hlten Fusionspartner geben. Die zur Verfà ¼gung gestellten Informationen werden auf Finanzkraft, Unternehmenswert und Synergiepotenziale analysiert. Nach Abschluss der Prà ¼fung mà ¼sste der Auftraggeber der Due Dilligence in der Lage sein, zu entscheiden, ob es sich bei dem ausgewà ¤hlten Fusionspartner um ein geeignetes Unternehmen handelt. Ist dies der Fall so wird à ¼ber Due Dilligence eine Verhandlungsbasis fà ¼r die Entscheidung der weiteren Integrationsschritte zur Verfà ¼gung gestellt. (Blà ¶cher, 2002: 35ff) „ Die gewonnen Informationen werden dem Auftraggeber der Due Dilligence in so genannten Data Rooms zur Verfà ¼gung gestellt. Dabei kann es sich sowohl um elektronische Datenbanken als auch um Akten oder Dokumente handeln (Krà ¼ger, 2000: 157ff) 6.2 Personalmanagement Human Resources ist ein weiterer wichtiger Faktor, der zum Fusionserfolg beitrà ¤gt. Das gut ausgebildete Personal wie z.B. Entwickler , Fà ¼hrungskrà ¤fte und Fachleute gehà ¶ren zum „menschlichen Kapital eines Unternehmens. Da die Mitarbeiter ganz unterschiedlich auf die Verà ¤nderungen wà ¤hrend der Fusion reagieren, sollte das Unternehmen deren Auswirkung im Fusionsprozess nicht unterschà ¤tzen. (Klodt, H. , 2002:S. 106.) Das Humankapital beeinflusst eine Fusion positiv sowie negativ. Einerseits kann es als Motivation fà ¼r eine Motivation einer Fusion dienen, das ist dann der Fall, wenn ein Unternehmen auf der Suche nach qualifizierten Mitarbeitern im Zielunternehmen ist. Andererseits entsteht eine negative Beeinflussung, die ihren Ursprung in persà ¶nlichen Anliegen hat. Verlustà ¤ngste des Arbeitsplatzes oder Gehaltverschlechterung kà ¶nnen das qualitative Arbeiten erheblich mindern und fà ¼hren zu einer Skepsis gegenà ¼ber einer Fusion. Das kann sogar dazu fà ¼hren, dass kompetente Mitarbeiter das Unternehmen verlassen. Um das zu vermeiden, muss sich das Personalmanagement zur Aufgabe machen in direktem Kontakt zu den Mitarbeitern zu stehen. Die Organisation muss in der Integrationsphase Antworten auf offene Fragen haben und einen sicheren und ehrlichen Umgang mit den Mitarbeitern pflegen. Die Aufgaben des Personalmanagements kà ¶nnten folgendermaßen in den jeweiligen Fusionsphasen aussehen: In der Pre Merger Phase muss die Bedeutung des Human Kapitals geklà ¤rt werden, damit das Personal im Verlauf der Fusion ausreichend berà ¼cksichtigt wird. In der Merger- Phase werden sà ¤mtliche Mitarbeiterdaten, Lohnabrechnungen oder Arbeitzeiten ausgewertet und miteinander verglichen. So wird die Kombinierbarkeit der unterschiedlichen Strukturen und Systeme der Personalorganisationen auf eine Vereinheitlichung hin geprà ¼ft. In der Post Merger- Phase muss geklà ¤rt werden, zu welchem Zeitpunkt bestimmte Ziele erreicht werden sollen, ob und wann Umstrukturierungsmaßnahmen oder à ¼bergangsregelungen erfolgen und auf welche Art und Weise die Mitarbeiter zu informieren sind (Pribilla, P.: Personalmanagement bei Mergers Acquisitions, in: Picot, A./Nordmeyer, A./Pribilla, P. (Hrsg.), Stuttgart, 2000, S. 64-67.) Um all diese Maßnahmen durchfà ¼hren zu kà ¶nnen ist eine gezielte und gute Kommunikation unausweichlich. Dies kann à ¼ber verschiedene Wege erfolgen. Z.B. à ¼ber Mitarbeiterversammlungen, regelmà ¤ÃƒÅ¸ige Email und Newsletter oder Diskussionsforen. Ferner sollte dem Angestellten ermà ¶glicht werden, direkte Fragen an das Management zu stellen zu kà ¶nnen. . ( Grube, R./Tà ¶pfer, A., 2002, S. 152.) Schließlich erfolgt die eigentliche Integration durch die Integrationsteams, die nur die Aufgabe haben die Fusion zu koordinieren. Damit eine schnelle gegenseitige Akzeptanz unt