Language and Memory Essay

Language is the medium of communication. It can be verbal or written, making use of different conventional symbols and sounds. All social creatures on Earth have their own languages such as bees, ants, and apes. Human language is the most complicated of all because of speech. It is an evolving process of signs and symbols. It consists of different elements such as phonemes, syllables, words, grammatical categories, sentences, discourses, and many more. One of the characteristics of language is that it is symbolic. It makes use of symbols like pictures, diagrams, letters, numbers, and alike. Examples of this characteristic of language involve the hieroglyphics of ancient Egypt and the ancient symbols of the Mayans. Thus, it is important for humans to be able to understand and memorize the symbols in order to establish communication. Memory plays an important role in the process of language. It is the faculty of the mind which stores knowledge, previous thoughts, impression or events. Every word that is used, whether in isolation or used in a sentence has a meaning and that is stored in our brains (Kutas, et al, 2000). There are different types of memory. The first one is the short-term memory which recalls events that happened from a few seconds to a less than a minute ago. Long-term memory, on the other hand, is a stronger memory, which can recall events a few minutes after it happened. Episodic memory is responsible for personal experiences. Since language is composed of symbols and sounds, the human brain acts as a catalog of these symbols and their corresponding meanings. This is called semantic memory (â€Å"Types†, n.d.). Nature and Function of Semantic Memory Semantic memory is essential in language. It consists of independent ideas. These consist of information such as the location of the Great Wall, the shape of an apple, or the colors of the rainbow. Semantic memory organizes ideas and assigns them to words and language, which are essential in establishing communication. In a book entitled, â€Å"Essentials of Human Memory† written by Alan D. Baddeley, semantic memory does not actually mean an association between words (1999). Baddeley pointed out that semantic memory is actually concerned with concepts or ideas, having relation to words but are not words themselves. He argued that much of the information stored in the semantic system consists of perceptions and acquired knowledge. It is mainly a collection of experiences, more than what words can convey (p. 157). There are many views as to the nature of semantic memory. Baddeley quoted a number of psychologists that have their own theories. Roger Brown and Eric Lenneberg described the nature of semantic memory using colors. According to them, focal colors, or colors that have short names are easier to remember such as red, blue and green. The findings support the Whorfian hypothesis, which states that shorter words can easily be remembered (157). Functions of Language Language is a medium of expression that can either be spoken or written. According to Patrick Lockerby, language is â€Å"a coding system and a means by which information may be transmitted or shared between two or more communicators for purposes of command, instruction or play† (2009). Language has many functions but can be simplified into three. The first is the informative language function. This is essential in communication and channeling of information. It is used to describe the world or ideas towards it. This function involves statements with value or truth. The second is expressive language function. Here, language is used as a medium of feelings and attitudes. Examples of this are poetry and prose. There are two aspects in this function of language. These are evoking certain feelings and expressing feelings. The third function of language is called the directive language function. It is commonly found in requests or commands. It is not normally regarded to as true or false. There are other functions of language aside from the three basic functions. The ceremonial language, for example, is used in a way that it mixes the expressive and the directive language for the use of performance. The statement â€Å"I do† in a marriage is an example of performative utterances denoting action. There is also phallic language where there is a transition from spoken language to body language (â€Å"Functions, n.d†.). Stages of Production Basically, the process of language production begins at the source of the information, which is the sender. The message is conceptualized and then encoded to linguistic form, which involves the usage of words and sentences. The linguistic form is then encoded to speech. Speech is the one responsible for delivering the encoded information to the listener through sound. The sound is decoded by the listener into its linguistic form, which is then decoded to its original meaning (â€Å"Language†, n.d.). Memory and Language Bruce A. Crosson and Bruce Crosson discussed the relationship between language and memory in their book, â€Å"Subcortical Functions in Language and Memory†. Before any information is stored in the long term memory, it must first be converted to linguistic system with semantic characteristics. Thus, the ability to retrieve verbal memory of a certain entity is dependent on how the represented entity is accessed. This supports the importance of language since it is dependent on verbal memory (1992). Moreover, meanings or words and symbols are stored in the semantic memory. An evidence of this is the ability to develop one’s vocabulary (325). There are also studies which suggest a significant relationship between the semantic memory and language. A study by Marta Kutas and Kara D. Federmeier proved that semantic memory plays a role in language comprehension as revealed by electrophysiology. An electrophysiological brain component called the N400 reveals the nature and timing of an active semantic memory during language comprehension. Results show that sentence processing is influenced by the organization of semantic memory. In the left hemisphere, the semantic memory appears to pre-activate the meaning of forthcoming words (2000). The relationship between memory and language was studied by Viorica Marian and Margarita Kaushanskaya. Their study involved testing accessibility of general knowledge across two languages in bilinguals. Mandarin–English speakers were asked questions such as â€Å"name a statue of someone standing with a raised arm while looking into the distance†. The respondents were likely to answer Statute of Liberty for the English speakers and Statute of Mao for the Mandarin speakers. When the accuracy of the answers was measured, it showed that language-dependent memory has an effect on both languages. In measuring the speed of answering was measured, it showed that only the bilinguals’ more proficient language is the only ones affected by language-dependent memory (2007). The results of this study suggest that there is a strong relationship between memory and language. Also, linguistic context at the time of learning may become integrated into memory content. Conclusion In conclusion, language plays a very important role in communication and learning. It represents ideas, thoughts and attitudes that are embedded in the linguistic system. Language also has many different functions. Basically, these functions are informative, expressive, and directive. Memory and language are closely related. As mentioned before, any information, before, entering to the long term memory must be converted to a linguistic system first. Semantic memory thus, is significant in language production since the information in the verbal memory is dependent on how to access its representations. References Baddeley, A. D. (1999). â€Å"Essentials of Human Memory†. The Psychology Press, Ltd. â€Å"Common Forms and Functions of Language† (n.d.). Introduction to Logic. Retrieved 16 May 2010 from http://philosophy.lander.edu/logic/form_lang.html. Crosson, B. A., & Crosson, B. (1992). â€Å"Subcortical Functions in Language and Memory†. New York, New York: The Guilford Press. Kutas, Mand & Federmeier, K. D. (2000). â€Å"Electrophysiology Reveals Semantic Memory use in Language Comprehension†. Trends in Cognitiv Sciences, 4 (12). â€Å"Language Production†. (n.d.) Wikepedia. Retrieved 16 May 2010 from http://en.wikipedia.org/wiki/Language_production. Lockerby, P (n.d.). â€Å"What is Language?†. The Chatter Box. Retrieved 16 May 2010 from http://www.scientificblogging.com/chatter_box/blog/what_language. Marian, V. & Kaushanskaya, M. (2007). â€Å"Language Context Guides Memory Content†. Psychonomic Bulletin & Review. 14 (5), 925-933.   Ã¢â‚¬Å"Types of Memory†, (n.d.). Brain Training Software. Retrieved 16 May 2010 from http://www.positscience.com/about-the-brain/brain-facts/types-of-memory.

Elimination of Television Jerry Mander Essay

Four Arguments for the Elimination of Television Jerry Mander thinks that with television â€Å"there is ideology in the technology itself. † The four claims in this particular article are that: (1) television itself had come to define the people who use it, (2) the forms by which it is used, (3) its influence on people, (4) as well as the other significant outcomes that may later come from its use. He argued that television is a medium or a means through which people derive, process, and build ideas from. He used parallelism in his challenge or rebuttal argument when he likened television to the army. The army’s mandate is to fight wars that necessitate fighting, killing, defeating and winning over the enemy. It does not follow that the generals chosen to lead the army are the kind born to fight and kill, the same way that television was not conceived to breed the kind of people who watch it. In the concept of the automobiles, he used the climatic word order in his narrative argument. He enumerated the consequences of the invention of the automobile, the need for gas, oil to source it, refineries to process the oil, stations to pump gas into the car. Mander used emotive language in his causal argument to emphasize the change cars brought to people, like when â€Å"they evolved into car people †¦. Cars replaced human feet. † Television like the automobile triggers a lot of reaction from its existence and subsequent use. Advertisements are made on television because consumers watch TV, manufacturers make big sales because their products are advertised, and the line goes on. This argument is related to Mander’s take on Advertising. The evaluative argument on the comparison of television to advertising used a balanced sentence with equal and parallel ideas, when Mander wrote that advertising was â€Å"designed to persuade and dominate by interfering in people’s thinking patterns. † Television for its part has a strong influence on people to take a side of an issue, or to change their minds on others. In his concluding argument he takes the strong position of getting rid of television quickly if ours is to be restored to a sensible and rational and free-thinking society basis the above reasons. Reference Mander, Jerry. (1978). Four Arguments for the Elimination of Television. Harper Perennial.

Culture In Australian Universities Essay Example | Topics and Well Written Essays - 1250 words

Culture In Australian Universities - Essay Example From my point of view, this culture is widely based on inquisitiveness that involves the search of information on almost everything regardless of its importance to the students. This comes in the perspective of practical use and application. This phenomenon has made it difficult for thousands of students in Australia to cope up with its demands. The kind of rampant interest that comes along with the curiosity has called upon the emergence of innovative and inventive aspects among students from a varied perspective. Many people have also come to criticize the innate curiosity behavior, though it has over the years been linked with advantageous aspects like the development of involving disciplines. This is in the field of biotechnology, computer science and nuclear physics that demand immense research and involvement in an aspect that most Australian universities have come to blend into. The latter culture unlike in other regions calls for a lot of critical thinking. Despite the fact that academic works in universities having to be built through a lot of involving processes. The same calls for immense adaptation to rational argument developments, testing and observations with support and evidence forming a core to almost any academic work done. Such kind of a culture is always rampant not only in Australian universities but in almost any university, with a strong reliance on intuition, unsupported opinions from a personal perspective or hearsay aspects being shunned with immense energies. Australia is well known as a good university study destination especially for the English Speaking states. Currently, more than two hundred thousand international students are enrolled in all universities across Australia. It is essential to comprehend that universities have their particular culture and adjusting to the universities culture usually takes a lot of effort and time. In studying both Australian and International first year students, it is evident that most of these students lack the experience needed in critical reading, appropriate citing and complete understanding of the academic games. Although most students do not provide information about the difficulties associated with settling in universities especially during the first year, enough contests have been organized and incredible information acquired. It is essential to have the university management have complete involvement in the entire process of settling down especially in the case of international students. In this research paper, a lot of information will be provided regarding the varied ways in which different students adapt to the university’s culture and the methods used in avoiding difficult experiences. One main factor that students should fight to overcome in their initial university years is culture shock. This phenomenon includes experiences related to transitions that are encountered by various individuals due to inability of using familiar or well-known cultures in the universities. These cultures could be used to convey, validate, reference and understand key aspects included in a culture and as used in identifying others. The impacts of culture shock are caused by continued or rather prolonged periods of conflicting self or personal ideas since the cultures are not well identified. Among the many difficulties are those

Media Censorship Essay Example | Topics and Well Written Essays - 1750 words

Media Censorship - Essay Example As the research stresses media professionals do extend their freedom of speech and communication by over reacting to specific situations in their respective fields. Recently, media has really led to brainwashing of young children. This is seen through programs on televisions and on some social sites on the internet. The effects are devastating, as in some cases, these have led to the overspread of diseases due to engaging in premarital sex, which is highly appreciated in movies and even TV programs. The rate at which the media fraternity creates controversy in situations is alarming. This has led to either to mass hysteria or calmness in times of calamity. These reasons have led most national governments censor some media classes from conveying what it feels but rather conform to some set regulations. It is necessary though in some areas, these controls have gone beyond the extent of reason. According to the paper findings Media Censorship is a topic that generates a vigorous discussion in the global platform. Many are the times media have censored some information, to some the act may be considered unreasonable while to others the act maybe considered necessary. Censorship can be defined as the suppression of words, images or ideas that are offensive. There are different types of media censorship, one is the age for viewing different programs or channels and the second is banning of some topics or words. The opponent find it as a subtle idea the proponent use to impose their moral value, ideas, beliefs and personal opinion on others.

Virginia State Government Essay Example | Topics and Well Written Essays - 500 words - 1

Virginia State Government - Essay Example 18, making monies available for â€Å"grants to pay for temporary housing, minor home repairs and other serious disaster-related expenses† (1). There is little argument that these services were needed, but the number of requests in the years to come might speak volumes. In June 2004, aid was given to Virginia once again. The â€Å"Federal Disaster Aid Authorized for Virginia Storms† press release read that funds were requested for a â€Å"series of severe storms† (para. 1). Most of the money went to southwestern Virginia to help residential families and small businesses affected by flooding from rainstorms, and damage done by tornadoes. In December 2006, the state of Virginia made application to FEMA once again for damage done by Tropical Storm Ernesto. This time, however, the state was denied FEMA help. In â€Å"FEMA Denies Richmond’s Housing-Money Request,† Michael Martz writes that the city was denied â€Å"more than $198,000 †¦ spent to house people in hotels and apartments after their North Side neighborhoods were flooded Sept. 1† (para. 2). Even with the rejection, Martz reported that Virginia officials still planned to apply for $35 million to fix a collapsed sewer line, and to take preventive measures against further flooding in the city’s Battery Park. Later that year, a news story titled â€Å"Blame the Weather† appeared in Economist. Although Virginia was not named specifically, the main idea of the article was that â€Å"bad weather and bad government may be related† (para. 1). The story read that the large influxes of cash provided by FEMA made it easy for government officials to skim money off the top by inflating the actual amount of damage done, demanding kickbacks from contractors hired to rebuild, etc. It was revealed that if FEMA were defunct, government corruption would be â€Å"cut by more than 20% in the average state† (para. 4). That is based on the idea of each state’s resident being cheated out of only $1. This

The corporate history of Canadian Tire Corporation Case Study

The corporate history of Canadian Tire Corporation - Case Study Example In relation to the study the company which has been selected is the Canadian Tire Corporation. Canadian Tire’s extensive range of products and services reached each and every house in Canada over the last two decades and the company made every Canadian life easier. The firm operates an interconnected business network including petroleum and apparel products, financial services, hard goods, and automotive services. The corporation’s retail operations include Canadian Tire, Canadian Tire Petroleum, Mark’s Work Wearhouse, PartSource, and FGL. The firm is well known for its creative advertising and acquisitions and partnerships. The organization’s corporate history indicates that nearly 85% of the Canadian population lived within a 15 minute drive of their local Canadian Tire store by the end of the 20th century. The company has been introducing timely business changes and new customer service facilities since 1922 and this innovativeness assisted the company to complete 89 years of successful Canadian market operations. Canadian Tire Corporation is a family oriented business organization and the firm serves its customers with flexible business hours and a range of other benefits. Recently, the company has introduced MasterCard facilities and other banking facilities in order to assist customers to make their purchases more convenient. The company offers extensive retail offerings including automotive, sports and leisure, and home products under one roof, and hence the Canadian Tire management provides better shopping experiences to its customers. The Canadian Tire possesses a large group of dedicated and efficient employees from different parts of the country and this workforce aids the company to make sure that its products and services are accessible to everyone. Canadian Tire’s corporate information shows that it gives extensive employment opportunities in every region of the country and provides the Canadian society with a ra nge of welfare programs. Therefore, the organization benefits the nation as a whole by offering cheap and quality products to Canadian population and by contributing to the economy’s overall GDP growth. However, like any other leading organization, the Canadian Tire Corporation has some pitfalls and disadvantages for its customers, employees, and society. The company has been often criticized for its service issues. Majority

What Makes People Attractive to Others Essay Example | Topics and Well Written Essays - 1000 words - 1

What Makes People Attractive to Others - Essay Example As adults, they are more likely to be married, can pull off more sex partners, earn a higher salary, and have a better job. People can naturally trust them, and some perceive them to be healthier and smarter. They are more likely to be elected if they go into politics. Have we ever considered why do we categorize some features as attractive and others as less attractive? According to scientific research, it is all dependent upon oxidative stress and anti oxidants. However, for some people it can be subjective. Therefore, this paper would discuss the essential aspects, which makes people attractive to others. People have researched on the different facets of being attractive. Research shows that an attractive person has many life advantages, which an unattractive person might be vulnerable to. Some researcher however thinks that being attractive is simply a learned criterion. The school of thought who opposes this theory argues that attraction to specific features is not learned. But over the period it has evolved as a way of distinguishing the virile from the weak. A lot of research has been done on this theory, and is hence supported. It suggested that if a person is attractive physically, then it depicts a biological signal of good health. Looking back at ancestral times, if any one feature of the partner would be attractive, it was considered as an omen for elongated survival (Dobson, 2010). A BBC study reveals that a newborn, just like an adult would be more fascinated to see an attractive face. In a research when an attractive and a less attractive picture was shown to an infant, he would look at the attractive picture for longer period of time as compared to the less attractive picture. This shows that everyone is born with a pre-programmed understanding of what makes a person attractive (Babies prefer beautiful faces, 2004). The old concept and expression which has batted for centuries is the concept of ‘opposites attract’. This idea can be considered as subjective when it comes to work, colleagues, or friends. This is because one generally does not like dealing with a person who are unlike of us. On the contrary, this concept can be considered ideal when it comes to love relationships. Research shows that on the Extraversion/Introversion and Judging/Perceiving scales, people are usually attracted to opposites. People who are exciting and different tend to attract us more naturally. It is more due to the quest of completion rather than the exciting difference that plays a role in being attracted to others. Every person has strengths and weaknesses. Individuals who possess strengths that are missing in us are more likely to be seen as attractive. This makes the couple a well rounded, functioning unit. This is how being attracted to opposites can make one as a more complete individual (Personality and Relationships). Apart from the biological features, the color, which a person opts to wear, might also play a vital role in being a magnet to attraction. If a man chooses to wear the color red so it makes him more attractive and desirable to woman. However, research shows that women are unaware of this arousing effect. According to a psychology professor, Andrew Elliot, the charm of cherry color makes men appear more powerful. He conducted a research through which he found that men who wear red are considered by women as higher in status, more likely to make money, and more likely to be social. Hence, the high status judgment makes a man attractive to women (University of Rochester, 2010). The question of beauty and attractiveness remains unanswered since the time humans have been civilized. Research shows that majority of men and women spend one-third of their income on

Curriculum definitions and reference point Article

Curriculum definitions and reference point - Article Example Thus, the two settings where the notion of a curriculum did persist were Scotland and the United States. In the United States, the development of a structure for the curriculum, in administrative and managerial terms, proceeded rapidly. However, the concept of what the realm of curriculum might be became highly diffused, and two consequences persist. 1. The curriculum as a concept, as a discrete idea, was almost without boundaries. It could mean anything from the â€Å"bundle† of programs an institution offered, to the individual experience of a particular student. 2. Systematic description, that is, an orderly, technical terminology that enhanced insights on practice and linked ideas to application, had not developed. Often faculty at work on the curriculum had to invent their own labels to describe what they did. 1. The word can connote either formal structural arrangements or the substance of what is being taught (split in definition). Most faculty would side with the notion that â€Å"the structural aspects of the curriculum had much less to do with the quality†¦quality instead was more importantly linked to matters of substance.† In sum, application of the concept of â€Å"curriculum† spread in the United States, but it did not achieve the refined meaning, precise definition, or consensus among professors that standards of professional practice normally require. 1. The concept of the curriculum as a plan for learning is well developed based on a comprehensive analysis of the literature on the subject. Further field research among faculty led back to the course as the fundamental component of such a plan, not the curriculum. 3. The concept of system has been extended to consider the curriculum as a major subsystem of the university, thus opening analysis of inputs and outcomes. This approach can be characterized as â€Å"systemic curricular planning.† One great asset of the concept of

Online Bookstore E-marketing Term Paper Example | Topics and Well Written Essays - 1000 words

Online Bookstore E-marketing - Term Paper Example Online bookstores have altered the way in which readers and writers interact and are expected to have a huge impact on the book retail business in the future. Starting a website to sell books will benefit Book Bunker in numerous ways, not least by increasing their stock space. Physical bookstores are limited in space, which is not a problem for online bookstores. Online bookstores are perfect for popular titles as well as rare ones, thus being a perfect avenue for Book Bunker as these rare titles receives the same space in relation to popular titles on the bookstore’s website. Ordering rare titles online will take the same time for delivery, as it would be for popular titles. Online bookstores are also convenient for customers in rural areas; they do not require physical access and are open for 24 hours including winter. Finally, an online bookstore will allow customers to post reviews about titles, which will aid Book Bunker since this feedback will affect the ratings of the title online, especially for rare titles, and will make for a unique interactive shopping experience that will attract other customers to the site. Online Bookstore Website Design One thing that needs to be considered when designing a website for a book store is that Book Bunker should ease up for their clients to buy titles and make the experience unique and interactive (Gay et al, 2010). The website should provide the client with extra information on top of the author and title. A system such as this has search as its lifeblood, and thus, it should include all information that a person browsing for a book would be searching for, including name, types of available copies, information on editions and whether it constitutes of a bigger pack (Gay et al, 2010). Simply, the website must capture and maximize the physical bookstore experience as much as possible. The website should also provide an opportunity for customers to add information on the titles that Book Bunker does not have, s uch as literary events, reading marathons, envision lists, book clubs, book marks, discussion boards, ratings, tagging, and detailed reviews. The website should also be designed in such a way that it works as a link between customers and suppliers with the store acting as an intermediary (Gay et al, 2010). Therefore, it becomes irrelevant whether the book is in stock. Book Bunker should factor in flags and notifications in their website coupled to appropriate icons, as well as allow effective forms to input and wish lists. Book Bunker also needs to network its website with other similar bookstores in order to possess a comprehensive catalogue, which caters to all book readers in multiple formats. This will also allow a review system that provides valuable and honest advice for purchase (Gay et al, 2010). The website should also possess the look inside section where the customer is allowed to have a peek into the book before buying it. Redemption facilities such as gift vouchers shou ld also be included in the website, as well as making it easier to order, pre-order, back-order, and return books (Gay et al, 2010). In addition, the website needs to be colorful and attractive on top of the text and white background, even with the necessity of optimization and fast loading. There should be a visual color-coded separation between the books to make it appealing to search for books. The site should also allow for a trail-back to the previous link levels clicked to get to the book itself in case the client decides that the clicked book is not the correct one (Gay et al, 2010). The â€Å"list page† should be in grid-style, which would enable Book Bunker to list more books with reduced vertical scroll. This would also allow the bookstore to increase the

Discussion Essay Example | Topics and Well Written Essays - 250 words - 141

Discussion - Essay Example It comprises of both the internal and external attributes of the business. Selecting output as an indicator demonstrates to the customers that the firm values environmental, economic and social development. It also illustrates that Coca-Cola considers product safety and the changing customer demands. Hence, reporting on the firms output and giving the consumers a chance to contribute towards the same improves Coca Colas public image (Pride, Hughes & Kapoor, 2014). Customers behavior is an indicator of satisfaction or the reverse. Incorporating it gives Coca Cola an opportunity to gauge the products progress. A dissatisfied consumer base is an indication that the firm should invest in product innovation. It also enables efficient marketing and formulation of pricing mechanisms. Therefore, observing customer behaviors through comments, photos guides policy formulation and organizational culture. A customers attitude can result in either high profits or loss to the business. A bad attitude lowers the profit margin while a positive attitude enhances sales. Therefore, taking into consideration the customers attitudes gives Coca-Cola a competitive edge. It also facilitates product awareness across the globe (Pride, Hughes & Kapoor,

Berlin Wall Essay Example for Free

Berlin Wall Essay What Was the Berlin Wall? The Berlin Wall was both the physical division between West Berlin and East Germany from 1961 to 1989 and the symbolic boundary between democracy and Communism during the Cold War. Dates: August 13, 1961 November 9, 1989 Overview of the Berlin Wall The Berlin Wall was erected in the dead of night and for 28 years kept East Germans from fleeing to the West. Its destruction, which was nearly as instantaneous as its creation, was celebrated around the world. A Divided Berlin At the end of World War II, the Allied powers divided conquered Germany into four zones, each occupied by either the United States, Great Britain, France, or the Soviet Union (as agreed at the Potsdam Conference). The same was done with Germanys capital city, Berlin. As the relationship between the Soviet Union and the other three Allied powers quickly disintegrated, the cooperative atmosphere of the occupation of Germany turned competitive and aggressive. Although an eventual reunification of Germany had been intended, the new relationship between the Allied powers turned Germany into West versus East, democracy versus Communism. In 1949, this new organization of Germany became official when the three zones occupied by the United States, Great Britain, and France combined to form West Germany (the Federal Republic of Germany). The zone occupied by the Soviet Union quickly followed by forming East Germany (the German Democratic Republic). This same division into West and East occurred in Berlin. Since the city of Berlin had been situated entirely within the Soviet zone of occupation, West Berlin became an island of democracy within Communist East Germany. Mass Emigration Within a short period of time after the war, living conditions in West Germany and East Germany became distinctly different. With the help and support of its occupying powers, West Germany set up a capitalist society and experienced such a rapid growth of their economy that it became known as the economic miracle. With hard work, individuals living in West Germany were able to live well, buy gadgets and appliances, and to travel as they  wished. Nearly the opposite was true in East Germany. Since the Soviet Union had viewed their zone as a spoil of war, the Soviets pilfered factory equipment and other valuable assets from their zone and shipped them back to the Soviet Union. When East Germany became its own country, it was under the direct influence of the Soviet Union and thus a Communist society was established. In East Germany, the economy dragged and individual freedoms were severely restricted. By the late 1950s, many people living in East Germany wanted out. No longer able to stand the repressive living conditions of East Germany, they would pack up their bags and head to West Berlin. Although some of them would be stopped on their way, hundreds of thousands of others made it across the border. Once across, these refugees were housed in warehouses and then flown to West Germany. Many of those who escaped were young, trained professionals. By the early 1960s, East Germany was rapidly losing both its labor force and its population. Having already lost 2.5 million people by 1961, East Germany desperately needed to stop this mass exodus. The obvious leak was the easy access East Germans had to West Berlin. With the support of the Soviet Union, there had been several attempts to simply take over West Berlin in order to eliminate this exit point. Although the Soviet Union even threatened the United States with the use of nuclear weapons over this issue, the United States and other Western countries were committed to defending West Berlin. Desp erate to keep its citizens, East Germany decided to build a wall to prevent them from crossing the border. The Berlin Wall Goes Up There had been rumors that something might happen to tighten the border of East and West Berlin, but no one was expecting the speed nor the absoluteness of the Wall. Just past midnight on the night of August 12-13, 1961, trucks with soldiers and construction workers rumbled through East Berlin. While most Berliners were sleeping, these crews began tearing up streets that entered into West Berlin, dug holes to put up concrete posts, and strung barbed wire all across the border between East and West Berlin. Telephone wires between East and West Berlin were also cut. Berliners were shocked when they woke up that morning. What had once been a very fluid border was now rigid. No longer could East Berliners cross the border for  operas, plays, soccer games, etc. No longer could the approximately 60,000 commuters head to West Berlin for well-paying jobs. No longer could families, friends, and lovers cross the border to meet their loved ones. Whichever side of the border one went to sleep on during the night of August 12, they were stuck on that side for decades. The Size and Scope of the Berlin Wall The Berlin Wall stretched over a hundred miles. It ran not only through the center of Berlin, but also wrapped around West Berlin, entirely cutting West Berlin off from the rest of East Germany. The wall itself went through four major transformations during its 28-year history. The Berlin Wall started out as a barbed-wire fence with concrete posts, but just a few days after the first fence was placed, it was quickly replaced with a sturdier, more permanent structure made out of concrete blocks, topped with barbed wire. The first two versions of the wall (barbed wire and concrete blocks) were replaced by the hird version of the Berlin Wall in 1965. This version consisted of a concrete wall, supported by steel girders. The fourth version of the Berlin Wall, constructed from 1975 to 1980, was the most complicated and thorough. It consisted of concrete slabs reaching nearly 12-feet high (3.6 m) and 4-feet wide (1.2 m), plus it had a smooth pipe running across the top to hinder people from scaling the Wall. And tentatively approached the border and indeed found that the border guards were letting people cross. Very quickly, the Berlin Wall was inundated with people from both sides. Some began chipping at the Berlin Wall with hammers and chisels. There was an impromptu huge celebration along the Berlin Wall, with people hugging, kissing, singing, cheering, and crying. The Berlin Wall was eventually chipped away, into smaller pieces (some the size of a coin and others in big slabs). The pieces have become collectibles and are stored in both homes and museums. After the Berlin Wall came down, East and West Germany reunified into a single German state on October 3, 1990.

Problems faced by countries with low economic growth

Problems faced by countries with low economic growth The economic growth is an increase in gross domestic product (GDP) by measure the amount of income and products that occurring over some time period. How is the economist defining the economic growth? The economists define the economic growth as an increase in real gross domestic product (GDP) measured on per capital and the arrangement for inflation. Furthermore, as an economist, they will look carefully at comparisons of GDP per capital between the countries that are absolutely different economic structures and cultural values. Growth begins when we begin to accept our own weakness said by Jean Vanier. It means that if the people want to growth up the economic for their country, the people have to know about the country weakness and finding out the solution together to solving the countrys problems. This assignment is going to discuss about the country with slow economic growth and what are the problem faced by them and what are the solution to solve these problems. Body Economic growth The economic growth is an increase in gross domestic product (GDP) by measure the amount of income and products that occurring over some time period. When the economic growth is increasing, it will bring many advantages. The advantage of economic growth is improving the living standards. Furthermore, the positive effects on government finances because of government benefits and increase employment opportunities are also the advantages. At the movement, the people will not be unemployed and have a stable life. The last advantage is improving the confidence of firms and consumers which may lead to an increase in investment. Country with low economic growth The country which is in a slow economic growth is Vietnam. In Vietnam, the people are increase the economic growth with agrarian, subsistence, and village-oriented. The sources of economic are come from many sector, such as agriculture, fishing, forestry, mining and minerals, Industry and manufacturing, energy and tourist. The below are table show about the Vietnam GDP from 2003 to 2010. Year GDP real growth rate Rank Percent Change Date of Information 2003 6.00 % 22 2002 est. 2004 7.20 % 23 20.00 % 2003 est. 2005 7.70 % 27 6.94 % 2004 est. 2006 8.50 % 23 10.39 % 2005 est. 2007 8.20 % 29 -3.53 % 2006 est. 2008 8.50 % 28 3.66 % 2007 est. 2009 6.20 % 55 -27.06 % 2008 est. 2010 5.30 % 26 -14.52 % 2009 est. From the 16th century, the Confucianism was losing its influence in Vietnamese society. The money economy was develops on a negative ways. The early commercial ports such as Hoi An were forced and foreign countries with their different cultures and their invasion ambitions were seen as a theat. Finally, this policy led to a degree of stagnation in the Vietnamese economy and finally Vietnam becomes the French colony. Until French colonization in the mid-19th century, Vietnams economy had been stationary with agrarian, subsistence and village-oriented. The French colonizer is intentional developed differently. The import and export have been divisions into the north and south in 1954. The south is for agricultural and the north is for manufacturing. Besides that, the development of exports the coal is from the north and the rice is from south. The French do this is to stimulate the internal commerce. During the year 1954 to 1975, the second Indonesia war was seriously affected the Vietnams economy. The Vietnam economy drops seriously and worsened by the countrys 1.5million military and citizen deaths and its later about one million of refugees, including tens of thousands of workers who are intelligent and can help to improve the economy of country. After that, the government set up a Second Five-Year Plan start in the year 1976 to 1980. The plan they want to achieved between the year are increase the average annual growth rates of 16 to 18 percent in industry sector, 8 to 10percent in agriculture and 13 to 14 percent in national income. Furthermore, they also aimed to combine the north and south again. In the end, the plans aims were not achieved and the economy remained dominated by small-scale production, low labor productivity, unemployment, lack material and technological and insufficient and consumer goods. By following, the Vietnam Third Five-Year Plan was begun in the year 1981 to 1985. This plan is to comprise between ideological and pragmatic fractions. They emphasized the development of agriculture and industry. Efforts were also made to put down the power of government while planning and improve the managerial skills of government officials. From 1970 to 1990, the Vietnam becomes a member of Comecon and trade with the Soviet Union and its allies. After the dissolution of the Comecon, Vietnam was forced to freedom trade, devalue its exchange rate to increase exports and embark on a policy of regional and international economic capitalization. In 1986, Doi Moi reforms a centralized economy to a socialist-oriented market economy. In the year 1990, the business and agricultural is success and evident after reforms under the Doi Moi and the economy was growing at an annual rate of more than 7%, and the poverty was decrease nearly halved. The GDP fell in 1998 to 1999 because the government still holds a tight rein over major state sectors of the economy. Vietnam had a average growth in GDP of 7.1% per year from 2000 to 2004 and the GDP growth in 2005 was 8.4%. On 7th November 2006, Vietnam became the World Trade Organizations (WTO)150th member. Vietnams access to WTO was intended to produce an excellent economic growth to Vietnam, to ensure the continuation of open reforms and create options for trade expansion. The serious challenges were also provided to Vietnam to increased foreign competition. The problems faced by the country Vietnam is facing many problems in their country. The first problem is population. In Vietnam, the population is around 80 million, is the second largest country in Southeast Asia after Indochina. After the Vietnam War, the population is rising rapidly. Increasing population density, pressure on ageing infrastructure and worsening environmental damage prompted a policy of applying does not encourage a families have more than two children. Although the population is slow down, but the previous high rate of young population have make the strains on the education system and labour market. The second problem is poverty, the poverty is still appear in the rural areas. The increasing of cities affluence has cause the migration from the poor rural provinces into the cities and provides the social problems there. The salary for the low-skill jobs is very less and the unemployment rate is high. The third problem is Health. Most of the hospitals are in antiquated colonial buildings. In the hospital, there are only consists a basic equipment and the medical staffs are lack of skills and experience. Moreover, the poor people who are sick refused for treatment and medication because they do not have money to pay. The fourth and is controlling smuggling. Smuggling now is seriously in Vietnam. Smuggling is on a massive scale, mostly between Vietnam and China. About a quarter of Vietnamese import may be entering the illegally across its long, porous border with its mighty neighbour. The last problem is pollution. The flora and fauna and the habitat destroy are not only threat by the pollution. The flora and fauna destroy also caused by poaching and illegal logging especially in the poor rural areas. This problem cause the people cannot have a good standard of living. Recommendation to the country People are a good thing to the country but the population growth is still need to have a limit. About the population problem, the government can reform tax in a way that encourages couple to have no more than two children. The couple still be able to have, but the tax code would no longer subsidize more than two. The second problem is about poverty. The poverty was happened because the people are lack of knowledge. So, the government and citizen need to give the best education to the children. When the children are growing up, they will have the knowledge and develop the country to decrease the poverty percent. The government can also increase the tax of the rich people and using the tax to pay for the poor people and some social activities. The third problem is about the health. In Vietnam, there are consists only the basic equipment and some unprofessional staff in the hospital. For this problem, the government needs to provide the modern equipment, some medicine and increase the knowledge of every staff. Furthermore, the price for the treatment must be able to pay by some poor people. To control the smuggling, the government has to strengthen the law like increase the amount of fine and send to jail about 50 years. The lecturer also needs to give some speech to the new generation to make sure they will not involve in the negative activities. The pollution in Vietnam is very seriously. To solve the problem, the citizens have to cooperate between each other to plant the tree to improve the standards of living. Moreover, government also needs to strengthen the law to stop them to continue illegal logging and poaching. Conclusion

Impact of Project Management on Mergers and Acquisition

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