...Peter Lawrence and Dianna Frazier formed the Fox Venture Partners planned to form a private equity investment pool. They estimated they would be able to pool $100 million from private equity investors each contributing about 5% to 10% of the total fund value. They plan to invest the accumulated fund of $100 million in to 20 separate investments with $5 million in each investment. Issues and problems faced by FVP Lawrence and Dianna conceptualized the formation of “funds of funds” to garner funds from wealthy families and redirect those funds to invest into Venture Capitalist and private equity firms. They have discussed this idea with a number of Venture capitalist firms as well. These firms supported the concept also. On the other hand, their discussions with potential investors were also fruitful. As investors they selected only the HNIs. Being convinced with the merit of their concept, they set out to raise fund for their endeavor. They sent 172 private placement memorandums to 172 selected families. However, they got a very lukewarm response: 1% of the potential investors showed further interest. They cannot wait longer as it’s been 6 months already since they sent their proposal. Dianna foresees disbursement upto 7 years. Hence they need to hurry in fund raising. So what might be the problem? Analysis: First let’s understand the structure and the stakeholders associated with a “fund of fund” concept. So a fund of fund has got two side: 1. Investor: The side from...
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...Fox Venture Partners: Enriching the Private Equity Investor Pool This HBS Case majorly discusses about a proposal from Peter Lawrence and Diana Frazier where they want to create an investment fund through which they will take investments from wealthy families and then reinvest the same into Venture Capital funds through private equity. The target group of investors for this new fund was clearly the wealthy families of United States who had been thus far investing in venture funds in an unstructured manner. Assumptions made by Lawrence and Frazier: 1) Wealthy class required educated and guided direction in channelizing their money into Venture funds to get better returns. 2) Private Equity investment needed to be diversified across funds based on geography, industry and maturity stage. Such diversification would reduce the risk from investing in Venture Capital 3) Families investing in Private equity for the first time had to do so in less established firms and hence would get pathetic returns and hence would have been dissatisfied with this asset class. Based on the above, Lawrence and Frazier thought that they would be able to bring in a qualified set of fund managers who would work along the principles of diversification of private equity based on the factors mentioned below and deliver returns. This proposition itself would make the fund attractive to wealthy families was the assumption. Guidelines for investing decided by Lawrence and Frazier: 1) Convince and educate...
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...COMPANY CASE Netflix: Disintermediator or Disintermediated? PRESENTED BY: DANIEL RICARDO ORDOÑEZ 201312625 MARIA LUCIA PACHON 201311104 YALILE KATHERIN ROA 201313192 THE SABANA´S UNIVERSITY BUSSINESS ADMINISTRATION MARKETING GROUP 1.2 2015 1. BACKGRAUND Netflix is a company that was created from the need generated by getting movies to watch from the comfort of the house, although at that time the companies who led this market were Blockbuster and Redbox , but to get them you had to approach a local Blockbuster or go a supermarket or store nearby where a dispenser Redbox addition these had a specific time to be returned, if not met you could have a fine is found, Netflix identify these weaknesses in them and became its advantages as well when you wanted to watch a film could access the internet make your Netflix account and solicitabas the list of movies you wished to see them received and send you the movies , these could be the time you wished and return , so Netflix quickly gained the lead. But with technological advancement and different devices that were created Netflix realized that people prefer to search online movies so they should not leave home or wait for them to arrive , so the company decided to create direct platform on which there are not only movies but also get series , plus Netflix decided also be associated with the different technological advances for these Netflix had already built into the device as we see when we buy a PlayStation...
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...With The Wind and Wizard of Oz. But the studio fell from grace in the 1950s before being gradually carved up by corporate raiders. In 1996, MGM bought back its independence and restored some of its lost glory. But it remained the smallest of the movie majors, heavily reliant on its back-catalogue and the periodic resurrection of its James Bond franchise. The company went into play in 2004, and was eventually acquired by a consortium of investors. However, this strategy also failed to deliver significant results, and the studio filed for bankruptcy in 2010 as part of a pre-agreed plan to merge with independent production company Spyglass Entertainment. Metro-Goldwyn-Mayer Studios (MGM) has joined hands with Brand Sense Partners to explore new business ventures focused on MGM's brand. The brand-extension and business-development firm believes in developing and...
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...FUTURE STRATEGIES Disney’s theme park strategy underscores the importance of vertical integration for the company as a means to exert total control not only over the individual segments of the media value chain, but also over the individual value chains of its business units. For example, by owning all elements of the theme park value chain, starting with travel agencies, over food and merchandising, to the accommodation of the parks’ visitors, Disney made sure that all possible revenue streams were channeled into the group without intermediary-related losses. Despite its precarious financial situation, Disney further extended its vertical reach by investing in the development of a new cable venture, The Disney Channel, launched in 1983, which allowed the exploitation of Disney content on the additional distribution platform cable television. Disney also decided to vertically integrate into syndication in order to exploit further revenues by licensing the individual film rights of Disney’s by now extensive television content library to independent television stations. The merger presented substantial benefits for both sides: Miramax gained guaranteed access to Disney’s national and international distribution network, and Disney could increase its content product diversity by securing content of the type that it lacked in its Disney, Touchstone and Hollywood Pictures output (Lyons, 2003). Through the Miramax acquisition Disney increased movie output from 18 films per year...
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...International Journal of Business and Management; Vol. 7, No. 16; 2012 ISSN 1833-3850 E-ISSN 1833-8119 Published by Canadian Center of Science and Education Cross-Cultural Etiquette and Communication in Global Business: Toward a Strategic Framework for Managing Corporate Expansion Ephraim Okoro1 1 School of Business, Howard University, Washington, USA Correspondence: Ephraim A. Okoro, Department of Marketing, School of Business, Howard University, 2600–Sixth Street, NW, Washington, D.C. 20059, USA. Tel: 1-202-806-1545. E-mail: eaokoro@howard.edu Received: March 22, 2012 doi:10.5539/ijbm.v7n16p130 Abstract The expanding scope of business corporations in the first decade of the twenty-first century is drawing much scholarly attention, and the trend has been described as a fact of life that defies the stretch of human imagination. The concept of global economy has expanded consumer awareness, defined new standards and rules of operations, and increased the need for national and corporate interdependence. Multinational organizations are exploring opportunities around the world, demonstrating sensitivity towards cultural differences in order to gain from the proliferation and growth of international enterprise. Recent studies indicate that while some corporations compete successfully in the global marketplace, others have failed to sustain their competitive advantage because of cultural imperialism or inadequate acculturation of their managers on international assignment...
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...HMV Group plc Annual report and accounts 2010 Contents Overview 1 2 4 6 8 Introduction Strategic progress and future focus Market overview Chairman’s statement Business review The basics Inspirational brands HMV and Waterstone’s are renowned for their specialist appeal, offering the widest ranges of entertainment and books in their markets. Our stores and the people who work in them strive to be always passionate and inspirational about the products we sell, and provide great service and value for money to ensure that our customers get closer to the entertainment they love, or feel every word between the covers of a good book. We attract the most enthusiastic customers in our markets, with over 4 million loyalty card holders across both brands. Business and financial review: 18 Financial review Governance 24 Board of Directors 26 Corporate governance 30 Directors’ remuneration report 40 Corporate responsibility 46 Directors’ report 51 Independent auditor’s report to the members of HMV Group plc Financial statements 52 Consolidated income statement 54 Statements of comprehensive income 55 Balance sheets 57 Statements of changes in equity 59 Cash flow statements 60 Notes to the financial statements 103 Group financial record HMV In-store Online & digital Live HMV is evolving rapidly as an entertainment brand. Our market-leading retail businesses operate through 417 stores in the UK, Canada, Hong Kong and Singapore and transactional local territory websites...
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...Arundel Partners: The Sequel Project Question 1: Arundel Partners thinks they can make money by buying the rights to sequels because of the possible arbitrage opportunity between the price they would pay for an option to sequels and the sequels’ real value. Therefore, valuing the option correctly takes great importance. The partners want to buy a portfolio of rights in advance rather than negotiating film-by-film to buy them because it is of critical importance to Arundel that a number of films and a price per film are agreed upon before either Arundel or the studio knows which films would generate the option of a sequel. If not, once production starts the studio would inevitably have more information on the likeliness that a sequel would be possible. This would put Arundel at a disadvantage, because they would then have to negotiate the price for sequel rights on each film produced while knowing much less than the production studio about the film. For example, if the studio knew that obtaining the rights for the literary work the first movie is based upon took a lot of haggling and work, and that the script has gone through fifteen revisions with six different writers, then the studio may be keen to get rid of the sequel rights. While a film’s profitability is always a gamble, there are often early signs such as these that a movie is going to be a jumbled mess that cost the studio way too much money to produce in the first place. These films tend to do...
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...Question 1: In the case study Blu-ray versus HD-DVD: A standards battle in high-definition video (Schilling, 2013,pp 65-66), what factors do you think influenced whether (1) consumers, (2) retailers, and (3) movie producers supported Blu-ray versus HD-DVD? Discuss and justify your answer using the theory behind the selection of dominant designs. Intro; In the early 2000’s Toshiba and Sony, two tech giants went head to head to provide homes with the next generation of high definition video. Toshiba’s new technology was called HD-DVD and was compatible with the old technology, DVD. Sony released Blu-Ray which required a new playing system altogether. After both companies had secured major contracts in the entertainment industry there was one moment that helped Sony to become the dominant product. Time Warner, formerly in alliance with Toshiba, switched to Sony prompting other undecided companies, including Walmart and Netflix, to follow suite. After this the tech war was effectively over and Toshiba ceased production of HD-DVD’s and components. Although at the same time an alternative product for watching movies was growing; online streaming. This provided a similar experience, depending on how fast the internet was in the area, but at a cheaper cost of being digital media. Consumers; in the fight for supremacy the early adopters of the technology are very influential because they will be more likely to have researched about which product was better based on technical factors...
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...of Pennsylvania. After graduating from the University of Pennsylvania, with a degree in economics, he entered into the real-estate market. He quickly became engrossed in everything related to real-estate, thanks to the wealth of his family. The old money he required allowed him to pursue financial ventures without fear of substantial losses. After gaining a stable financial perch, Trump became the owner of Miss Universe, a joint partner in N.B.C., and even started “The Celebrity Apprentice.” After years of fielding the thought of running for the Oval Office, candidate Donald Trump added his name, to an already crowed ballot on June 16, 2015. Joining him on the republican nomination ballot: Jeb Bush, Ben Carson, Chris Christie, Ted Cruz, Carly Fiorina, Jim Gilmore, Lindsey Graham, Mike Huckabee, Bobby Jindal, John Kasich, George Pataki, Rand Paul, Marco Rubio, Rick Santorum, Rick Perry, and Scott Walker. Recently Scott Walker and Rick Perry have dropped out of the race for the Oval Office. The latest polls show Donald Trump (26%) leading followed by Ben Carson (18%) and Carly Fiorina (9%). The trio accounts for more than half of the GOP voter’s support. The above poll, released by Fox News, was completed shortly after the latest Republican Debate. The general consensus was that Carly Fiorina was the winner of the debate, held on September 16 at the Reagan Library. The debate featured many hot button issues, quick jabs, and face saving gestures from the candidates. Among those...
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...Leading Licensing Companies By Dawn Wilensky A combination of new and evergreen properties/brands drove 2006 worldwide retail sales of licensed merchandise. Over the last five years, we have made strategic changes to our Leading Licensors list to ensure up-to-date, accurate worldwide retail sales estimates. This year, we made yet another change. As the line between licensor and licensing agent continues to blur—with many licensors taking on the task of representing properties/brands outside of their portfolio, and many traditional licensing agents being charged with fueling power for the brands/properties they represent—we have widened our list to include overall retail sales figures for licensing agents. As a result, we have changed this feature's name from “Leading Licensors” to “Leading Licensing Companies” to better reflect the power of the licensing business. As for this year’s list, which reflects 2006 worldwide retail sales of licensed merchandise, No. 1 Disney recorded a $2 billion increase in retail sales fueled, in part, by consumer demand for all things Pirates of the Caribbean, High School Musical, Cars, and Disney Princess. Sanrio also saw a significant uptick in sales, rising from $4.2 billion in 2005 to $5.2 billion in 2006. Phillips-Van Heusen makes its debut on the list at No. 2 with $6.7 billion in sales driven by proprietary brands Van Heusen, Arrow, Izod, Bass, and Calvin Klein. Other newcomers include: Carte Blanche Greetings ($700 million); Sean John...
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...Annual report 2013 Looking forward to the future Dear Fellow Stockholder, move ahead of our peers. This unique culture allows us to attract and keep the best leaders and talent because it provides opportunities to grow and take on new challenges. That spirit will remain a cornerstone for us, to the benefit of our viewers, colleagues and investors. Shareholders of 21st Century Fox will see value driven by a commitment to bring consumers across the globe the very best stories in film and television, the greatest moments in sports, unrivaled TV news coverage, and an array of satellite products and services that deliver Rupert Murdoch, Chairman & Chief Executive Officer, 21st Century Fox the world like never before. Our potential to expand our franchises outside the U.S. is limitless, and, with many international markets still in their infancy, largely untapped. It is through this lens – dynamic content, global reach and entrepreneurial culture – that we view both the foundation and future of 21st Century Fox. While I’m not one to look back, the past 12 months have made me especially proud. At the same time, our prospects for the next 12 months and beyond are as bright as ever. The following review of our cable business, sports programming, broadcast network, film and television assets and satellite services is a snapshot of the strong foundation we have built over the years, which will serve us well as we focus on the opportunities that lie ahead. Business Segment Overview...
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...decision-making situation when it is desired for an organization. It is use to develop a plan that takes into consideration many different internal and external factors, and maximizes the potential of the strengths and opportunities while minimizing the impact of the weaknesses and threats. This remarkable technique was provided by Albert S Humphrey, one of the founding fathers of what we know today as SWOT analysis. SWOT analysis came from the research conducted at Stanford Research Institute from 1960-1970. A strategic planning method which is used to evaluate the Strengths, Weakness, Opportunities and Threats involved in a project or in a business or in an organizations venture. The team members and the managers mainly use this analysis on behalf of an organization. It specifies the objective of any business venture or project to identify both the external and internal factors which are sometimes favorable and unfavorable to achieve that objective. Strengths, Weaknesses, Opportunities and Threats (SWOT): It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors. The factors (internal and external) may include all of the 4P's; as well as personnel, finance, manufacturing capabilities, and so on. The external factors may include macroeconomic matters, technological change, legislation, and socio-cultural...
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...Founder and Chief Shoe Giver of TOMS, share some of these characteristics. Though they are both well-known for being successful entrepreneurs, they are not in the same categories. Jobs is a serial entrepreneur while Mycoskie is a social entrepreneur. Jobs, as an inventor and a serial entrepreneur, believed in creating great products for the consumers. He started Apple computers with his partner, Steve Wozniak, in 1976, found NeXT in 1985, purchased Pixar in 1986 then returned to reinventing Apple in 1997. “As a boy, Jobs and his father would work on electronics in the family garage. Paul would show his son how to take apart and reconstruct electronics, a hobby which instilled confidence, tenacity, and mechanical prowess in young Jobs.” (“Steve Jobs Biography”, 2012, p.1). His parents, especially his father, gave him a strong foundation and that is how his life as a passionate inventor began. Jobs was a risk taker. He believed in his vision so much that he sold his Volkswagen bus in 1976 in order to raise start-up money for his Apple computer business venture with his partner Steve Wozniak. It was a great success. “Jobs...
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...dividend policy; debt policy; and leasing. Instructor Biography: James Berman, the president and founder of JBGlobal.com LLC, a Registered Investment Advisory Firm, specializes in asset management for high-net-worth individuals and trusts. With over thirteen years of experience managing client portfolios, Mr. Berman is a professional analyst of financial vehicles, including equity and bond mutual funds, and is an expert in global investment, asset allocation and modern portfolio theory. As the president of JBGlobal LLC, the general partner of the JBGlobal Fund LP, Mr. Berman manages a global equities fund that invests in the United States, Europe and Asia. Mr. Berman is a faculty member in the Finance Department of the NYU School of Continuing and Professional Studies where he teaches corporate finance. He serves as sub-advisor to Eitan Ventures LLC, a venture capital fund based in New York. Mr. Berman has appeared on CNBC and the Fox Business Channel and is regularly published and quoted in a variety of publications, including Barron's, Fortune, Bloomberg, and CNN Money. As a regular blogger for The Huffington Post, he covers financial topics ranging from hedge funds to the economy. He holds a B.A., Magna Cum Laude, Phi Beta...
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