...Exercises Lecture 2. The Rise of Multinational Companies Case: MUELLER: China Bound? (A), (B) and (C). (308-358-1, 308-359-1 and 308-360-1). Discussion Questions: 1. What are the primary ownership advantages of Mueller? 2. What are the major ways in which Mueller could serve the China market? 3. What are their primary advantages and disadvantages?? 4. If Mueller decided to invest in China, what would be the main functions of its subsidiary? 5. How could the risks involved in the FDI to China be managed? Lecture 3. The Myth of the Global Company Case: Lafarge: From a French Cement Company to a Global Leader (304-019-1) Discussion Questions: 1. What are the main characteristics of Lafarge’s internationalisation strategy and competitive competences and how do these differ from those of other cement companies such as Cemex and Holcim? 2. What were the assumptions underlying Lafarge's strategy and how justified were these? 3. To what extent is Lafarge a French company with foreign operations, as distinct from a global MNC, and how is it likely to develop as a MNC? 4. What are the implications of Lafarge’s growth for the internationalisation of other French firms? Lecture 4. Competing Capitalisms in the 21st Century Case: Messier's Reign at Vivendi Universal (9-405-063) Discussion Questions: 1. What was Messier's strategy in transforming CGE into Vivendi, what assumptions was it based on and how justified were these? 2. What does this transformation reveal about the French business environment...
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...Cemex’s Foreign Direct Investment In little more than a decade, Cemex, Mexico’s largest cement manufacturer has transformed itself from a primarily Mexican operation into the third largest cement company in the world behind Holcim of Switzerland and Lafarge Group of France with 2007 sales of $21.7 billion and more than $2.6 billion in cash flow. Cemex has long been a powerhouse in Mexico and currently controls more than 60 percent of the market for cement in that country. Cemex’s domestic success has been based in large part on an obsession with efficient manufacturing and a focus on customer service that is best in the industry. Cemex is a leader in using information technology to match production with consumer demand. The company sells ready-mixed cement that can survive for only about 90 minutes before solidifying, so precise delivery is important. But Cemex can never predict with total certainty what demand will be on any given day, week, or month. To better manage unpredictable demand patterns, Cemex developed a system of seamless information technology - including truck-mounted global positioning systems, radio transmitters, satellites, and computer hardware, that allows Cemex to control the production and distribution of cement like no other company can, responding quickly to unanticipated changes in demand and reducing waste. The results are lower costs and superior customer service, both differentiating factors for Cemex. The company also pays lavish attention...
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...LafargeHolcim Cement Limited‖ Prepared by Asmina Akter; ID-35 Mohoan Chowdhury; ID-46 S. M. Yusuf Mallick; ID-71 Md. Harun-Ur-Rashid; ID-73 Supervisor Suborna Barua Assistant Professor Department of International Business University of Dhaka Date of Submission: 01.07.15 1|Page Letter of Transmittal 1st July, 2015 The Course Instructor Suborna Barua Department of International Business University of Dhaka Subject: An application for acceptance a term paper on “Merger of Equal of LafargeHolcim Cement Limited” Dear Sir, It is a great pleasure to submit you a term paper on ―Merger of Equal of LafargeHolcim Cement LTD‖. This paper is prepared to learn the motives, process, integration and result of merger of Lafarge and Holcim two giant cement company. We request you to excuse us for any mistake that may occur in the paper despite of our best effort. We believe that you will view all mistakes with your generous consideration. Yours sincerely Asmina Akter, ID-35 Mohoan Chowdhury; ID-46 S. M. Yusuf Mallick; ID-71 Md. Harun-Ur-Rashid; ID-73 Department of International Business (MBA 7th Batch) University of Dhaka 2|Page Executive Summary Corporate restructuring is becoming popular day by day and merger and acquisitions are being considered as the big steps towards corporate restructuring. Being a part of strategic issues, merger and acquisitions are subject to lots of issues related to strategic planning, time management, resource...
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...Cemex: High Tech Cement Report title page +names of team members To be done Executive Summary To be done Question A. Based on case data outline the strategy followed by Cemex to achieve its position of prominence in the cement industry. What factors and resources equipped the company to grow so successfully over the period described in the case? Also, compare Cemex with Cisco. Where are they similar and where do they differ? Cemex utilized four key strategies to achieve a position of prominence in the cement industry. First, Cemex innovated state of the art technology to outperform competitors. Cemex leaders challenged the operations groups to develop more efficient ways ways to produce concrete and bought technology through acquisitions. A telecommunications network between 11 plants was established as early as 1988. The IT consulting group, Cemtec, was spun off which utilized online surveys to manage customer relations. Second, Cemex converted the commodity business into a specialty business by helping their end users improve profitability. E.g. in Mexico City, by guaranteeing delivery times of 20 minutes or less, the contractors maximize the cost effectiveness of the crews working on the site. Third, Cemex bought out competition in markets they wanted to expand influence. In some geographies, such as Mexico, Cemex owned >70% market share through acquisitions. Lastly, Cemex embraced risk management as one of its core competencies...
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...9-701-017 REV: NOVEMBER 29, 2004 PANKAJ GHEMAWAT The Globalization of CEMEX Geographic diversification enables us to operate in multiple regions with different business cycles. For the long term, we are trying to ensure that no one market accounts for more than one third of our business. Yet we do not diversify simply to balance cyclic downturns and upswings. We do not see volatility as an occasional, random element added to the cost of doing business in an interconnected global marketplace. We plan for volatility. We prepare for it. We have learned how to profit from it. Lorenzo Zambrano, CEO of CEMEX.1 In 1990, Cementos Mexicanos was a Mexican cement company that faced trade sanctions in its major export market, the United States. By the end of 1999, CEMEX operated cement plants in 15 countries, owned production or distribution facilities in a total of 30, and traded cement in more than 60. Non-Mexican operations accounted for nearly 60% of assets, slightly over 50% of revenues and 40% of EBITDA (earnings before interest, taxes, depreciation, and amortization) that year. CEMEX’s sales revenues had increased from less than $1 billion in 1989 to nearly $5 billion in 1999, and it had become the third largest cement company in the world in terms of capacity, as well as the largest international trader. Growth had been achieved without compromising profitability: in the late 1990s, its ratio of EBITDA to sales ranged between 30% and 40%—ten to fifteen percentage...
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...Universidad Nacional de Colombia Foreign Languages Department Written English VI Gabriela Vallejo Matiz December, 2013 04861318 The Martian Chronicles: Illusion over Reality The Martian Chronicles can be interpreted as the choice of illusion over reality. There were many events where the Martians shaped their bodies to the humans’ deepest desires or the humans themselves created illusions to fulfill these desires. By doing so, it could be seen that the characters chose to follow their illusions instead of accepting the reality they were facing. “The choice of illusion is related to the strong emotions of love, hate and empathy.” (Taylor, 2013) In chapter six –the third expedition- is clear that the humans’ illusion is to have their beloved dead ones back. Despite the Captain’s reservations and warnings, everyone accepts the illusion of Green Bluff, Illinois in Mars, which suggests unreality given that it may not be possible to copy an identical place in a different one. However, this acceptance brings comfort to the crew who are blinded by the emotion of having their resurrected family back; these families “were given a second chance to live in a new world” which, at the same time, is unreal because there is no way to bring back a dead person. The Martians linked this illusion to the strong empathy with the crew’s emotions through telepathy in order to carry out a dreadful funeral. Earth men never suspected what was happening until the last moment when they were killed...
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...| 14-May-15 | 14-May-15 | Directive regarding distribution of dividend, fractional bonus share and rights share to the margin accountholders of the stock brokers | 13-May-15 | 17-May-15 | Order regarding circuit breaker (here it is given the upward and downward price limit of the reference price) | 04-Mar-15 | 04-Mar-15 | Repeal Directive No. SEC/SRMIC/2007-18/1178/270 dated October 12, 2011 | 02-Feb-15 | 02-Feb-15 | IPO approval Procedure | 27-Jan-15 | 27-Jan-15 | Directive No. BSEC/Enforcement/2137/2014/20 dated January 27, 2015 | 25-Jan-15 | 25-Jan-15 | Repeal Directive No. SEC/CMRRCD/2004-129-378 dated December 19,2004 | 06-Jan-15 | 06-Jan-15 | Order for Extension of Suspension of Rule 3(5) of the Margin Rules 1999 | 18-Dec-14 | 18-Dec-14 | Notification Regarding Conditions for issue of capital, rights issue and IPO | 13-Nov-14 | 13-Nov-14 | Notification Regarding Annul General...
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...Question 1: Answer: SMEs (Small & Medium Enterprises) are those business enterprises which run their business in small and medium level. Small and medium business has no single definition but have some standards on the basis of which we can say they are small and medium enterprises. Different institutions has given different definitions but in Pakistan SMEDA (small Medium enterprises development authority) has defined SMEs as “the enterprises can be small and medium which has up to 250 employees and having annual return about Rs.250 million.” In Pakistan we can say that there are about more and less about 2 million small and micro level business and enterprises are exist. In among these 2 million there are about 400000 are form manufacturing side about 600000 from services side enterprises and about one million are exists from trade sector mean retailers. In Pakistan Small Medium enterprises is almost near to ninety percent of the whole business enterprise. It contributes a lot in almost every sector of Pakistan like manufacturing, agricultural and services based organizations. The part of every province in SME are contributed in SME Punjab province has the highest contribution about 65.26% share is in Punjab, KPK has about 12.21% while Sindh province has about 17.82% share in SME in total of 2.96 million units in Pakistan of which about 93.9% are established enterprises and 6.1% are household enterprises. Baluchistan share is about 2.09% in over all units in Pakistan....
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...VALUE CALL MONTHLY REVIEW AND OUTLOOK 31 May 2011 The Market Index 13,000 The Market ‐ One Year Performance Volume Index Volume (m) 400 300 200 11,000 9,000 100 0 31‐Aug 30‐Nov 1‐Mar 31‐May 7,000 1‐Jun The market was range bound coupled with thin volumes for most of the month under review before activity The Market ‐ May 2011 Index Volume (m) Turnover Index picked up over the final 10 days. The KSE‐100 Index 12,300 140 12,200 120 posted a minor gain of 65 points or 0.5% during May 12,100 100 12,000 2011 to close at 12,123 while the KSE‐30 Index improved 11,900 80 by only 46 points or 0.4% to 11,762. The average daily 11,800 60 11,700 turnover during May 2011 was 71.39m shares compared 11,600 40 11,500 20 to 75.52m shares during April 2011. The net inflow of 11,400 11,300 foreign funds according to NCCPL figures during the 2-May 5-May 10-May 13-May 18-May 23-May 26-May 31-May month under review was US$26.36m while the fiscal year ‐to‐date net inflow was US$321.39m and the calendar STOCK MARKET DATA 29‐Apr‐11 31‐May‐11 %Chg. year‐to‐date net inflow was US$71.40m. Bank AL Habib Ltd. (BAHL) KSE‐100 Index KSE‐30 Index Shares Traded m 12,057.54 12,123.15 11,716.35 11,762.76 1,585.92 1,570.54 0.5% 0.4% ‐1.0% ‐20.7% ‐20.7% 0.3% 0.3% We are initiating coverage on BAHL, the eight largest ...
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...Jourdan Morris March 10, 2014 MGT499-80 Strategic Management Project Interim Assignment #1 History and Description of the Company The E.I. du Pont de Nemours and Company (DuPont) was founded in 1802 by Eleuthère Irénée (E.I.) du Pont. E.I was trained in gunpowder handling as well as advance explosive production techniques (DuPont). E.I. left his home in France during the French Revolution to embark on a journey to America January of 1800. By the summer of 1802 DuPont opened up his first powder mill located on the Brandywine River. Since that very first mill opened the DuPont Company has been involved in a wide variety of industries; The Automotive, Research and Development, Technology, Communication industries and a whole host of others have all been ventured into by DuPont. DuPont currently is one of the most profitable chemical companies in the world. In 2012 DuPont ranked ninth in the world based on ICIS Top 100 (ICIS). Mission and Vision Statement DuPont’s mission statement is as followed: “DuPont is a science company. We work collaboratively to find sustainable, innovative, market-driven solutions to solve some of the world’s biggest challenges, making lives better, safer, and healthier for people everywhere.” The challenges that DuPont narrows its focuses on are food, energy, and protection solutions (DuPont.) Primary Industry SIC: 2879, Pesticides and Agricultural Chemicals, NEC NAICS: 325320, Pesticide and Other Agricultural Chemical Manufacturing ...
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...HRM 605: LEGAL & REGULATORY ASPECTS OF BUSINESS PROJECT ON: CRITICAL STUDY OF DEFINITION OF COMPANIES AND OF VARIOUS TYPES BY: (Group IV) Piyali Bhattacharjee Manashi Roy Soura Shankar De Sourav Manna INTRODUCTION The Indian economy is one of the fastest growing economies in the world; there is huge potential and capabilities. The growth rate of Indian economy is on a sustainably high growth mode. One of the reasons why there is such a rapid growth rate and sustainable too is there is growing domestic market as well as export market in India. Domestic market is increasing due to rise in disposable income and investment in the economy. India is seen amongst world’s youngest country in terms of age of people residing here, most of the citizens approximately 70% are below the age of 35 years. The shift primarily from agrarian to service economy took place in India which also has a huge impact in boosting the developing economy. India is emerging as a service provider to global market, its developed I.T talent and English speaking skill has helped it to grow worldwide. India is moving from an emerging market to an emerged market. The GDP growth of India over the years has shown the development of India’s different sectors like agriculture, construction & service growth. CEMENT INDUSTRY - OVERVIEW The cement industry across the world is getting concentrated and some of the western...
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...Economic and Financial Outlook in 2015 External Shocks Creating New Opportunities FSDH Research January 2015 Economic and Financial Outlook: 2015-2019 1.0 Global Economic Growth: According to the World Economic Outlook (WEO) Update of the International Monetary Fund (IMF), January 2015 Edition, the global economic growth is forecast at 3.5% and 3.7%, for 2015 and 2016 respectively. The forecasts were reviewed downward by 0.3% The IMF forecasts a global economic growth of 3.5% and 3.7% for 2015 and 2016 respectively. relative to the October 2014 WEO. The revisions reflect a reassessment of prospects in China, Russia, the Euro-area, and Japan as well as the weaker activity in some major oil exporters because of the sharp drop in oil prices. The United States (U.S.) is the only major economy for which growth projections have been raised upward. The IMF added that the global growth will receive a boost from the lower oil prices. However, this boost is projected to be more than offset by the negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many advanced and emerging market economies. The U.S. is expected to grow by 3.6% in 2015 and slow down to 3.3% in 2016, supported by domestic demand due to lower oil prices, more moderate fiscal adjustment, and The U.S. is expected to grow by 3.6% in 2015 and slow down to 3.3% in 2016. continued support from an accommodative monetary policy stance...
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...LOVELY PROFESSIONAL UNIVERSITY DEPARTMENT OF MANAGEMENT Report on Capstone Project “Impact of financial risk on capital structure decision in cement industry of India” Submitted to Lovely Professional University In partial fulfilment of the Requirements for the award of Degree of Master of Business Administration Supervisor: Mr. Rohit Bansal Submitted by: Shalini Sahay 10808654 Khalid Anwar 10805151 Suman Saurabh 10808885 Varun Kakkar 10810014 Gurpreet Singh 10806126 DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY JALANDHAR NEW DELHI GT ROAD PHAGWARA PUNJAB 1 CERTIFICATE This is to certify that the project report titled “Impact of financial risk on capital structure in cement industry of India” carried out by Miss. Shalini sahay has been accomplished under my guidance & supervision as a duly registered MBA student of the Lovely Professional University, Phagwara. This project is being submitted by him/her in the partial fulfilment of the requirements for the award of the Master of Business Administration from Lovely Professional University. Her dissertation represents her original work and is worthy of consideration for the award of the degree of Master of Business Administration. ___________________________________ (Name & Signature of the Faculty Advisor) Date: 2 CERTIFICATE This is to certify that the project report titled “Impact of financial risk on capital structure in cement industry of India” carried out by Mr.Khalid anwar has...
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...http://www.victorianweb.org/mt/theaters/pva234.html Theatres in Victorian London Philip V. Allingham, Contributing Editor, Victorian Web; Faculty of Education, Lakehead University (Canada) [Victorian Web Home —> Authors —> Music, Theatre, and Popular Entertainment —> Theatres] Much of the following information has been gathered from Frederick and Lise-Lone Marker's in "A Guide to London Theatres, 1750-1880" in The Revels History of Drama in English, Vol. VI: 1750-1880 (1975). They, in turn, consulted H. Barton Baker's History of the London Stage (London, 1904), Allardyce Nicoll's A History of English Drama 1660-1900 (Cambridge, 1966), E. B. Watson's Sheridan to Robertson (Cambridge, Mass., 1926), and The London Stage (Carbondale, Ill., 1962-68). Phyllis Hartnoll's Concise Oxford Companion to the Theatre offers more detailed information about many of these 19th c. theatres. For supplementary texts, consult the "Reference List" below. Adelphi (Strand) Built in 1806 opposite Adam Street by merchant John Scott (who had made his fortune from a washing-blue) as the Sans Pareil to showcase his daughter's theatrical talents, the theatre was given a new facade and redecorated in 1814. It re-opened on 18 October 1819 as the Adelphi, named after the imposing complex of West London streets built by the brothers Robert (1728-92) and James (1730-94) Adam from 1768. The name "Adelphoi" in Greek simply means "the brothers." Among the celebrated actors who appeared on its stage...
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...SYMBIOSIS SCHOOL OF BANKING MANAGEMENT Constituent of symbiosis International University Accredited by NAAC with ‘A’ Grade Established under Section 3 of the UGC Act, 1956, vide notification No: F.9.12/2001-U-3of the Government of India. TITLE OF THE REPORT Investment Banking - Studying Private Equity, Financial Modeling and Private Equity trend analysis Internship Report submitted to SIU in partial completion of the requirement of MBA Banking Management at Symbiosis School of Banking Management Pune-412115. NAME OF THE STUDENT: PROJECT MENTOR(SSBM): PROJECT MENTOR Moulshree Mishra Ardhendu Shekhar Singh AT THE BANK: PRN: 12020941033 Mr. Pradeep Das APRIL 02, 2013 TO JUNE 01, 2013 ACKNOWLEDGEMENT I take this opportunity to convey my gratitude to Mr. Pradeep Das, Executive Director at CreedCap Asia Advisors, for streamlining the summer internship program for me at the firm and for providing the necessary guidance. I would like to express my gratitude to Mr. Vishal Pereira, Director at CreedCap Asia Advisors, for permitting me to accompany and assist him for investors meetings and for providing me guidelines regarding the e-commerce research indicating the correlation between US and Indian private equity trends. I’m thankful to Mr. Geeth Vaz, Senior...
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