The theme of the novel Russlander (By Sandra Birdsell) :: essays research papers

The October revolution of 1917 in Russia was a turning point that defined Russia as a nation. It was one of the most dramatic events in the history of the Russia that had completely changed the lives of the people at that time. The Russlander by Sandra Birdsell describes the live of a girl who was raised on a wealthy Mennonite estate. It seemed like her parents were ignoring all the troubles in the outside world, living a happy life together. But nothing lasts forever, and their happiness ended with the start of the revolution. At that time Katya was only 16 years old. Just like many people at that time she lost her family and friends, who were killed by the Bolsheviks. The conflict with the new leaders of the country started when her father refused to pay taxes and support his country, and ended with this horrible tragedy. Katya had lost everything that her family owned and was forced to move to another country, where she had to start a new life from scratch. Even though she had relatives living in Canada, it was not an easy task. Just like other immigrants to Canada, she had to face many difficulties, like the learning of the new language, and adapting to the new lifestyle. Many years later, she came back to her homeland to visit the places she grew up in. After more than fifty years she still remembered the tragedy that suddenly ended the happy life of her family. People should value other things, besides money and their estate. Everyone should show more love and attention to the members of their family, because nothing can be compared to the importance of the family to any person in the world. It is unfortunate that in many cases, people realize how important their family is after they lose one or more of their relatives.

M & a of China Automobile Industry Essay

The Researches on Overseas Mergers and Acquisitions of China Automobile Industry in Post-Crisis Period? ZHU Qin School of Economics, Zhejiang Gongshang University, P. R. China, 310018 Zhuqin9871@163. com Abstract: Since the 2008 financial crisis, the overseas mergers and acquisitions (M&A) of China automobile industry have become a topic the world’s automobile market most concerns about. This paper views that the rapid growth of the domestic automobile market, the adjustments in overseas auto industry and much support from government’s policies provide a good background and favorable conditions to overseas M&A of China automobile industry. It also points out that although China’s state-owned enterprises are still the main body of overseas mergers and acquisitions of China auto industry, private enterprises are playing an increasingly important role. Through studying specific cases, the paper proposes countermeasures concerning overseas mergers and acquisitions of China automobile industry in post-crisis period. Keywords: Post-crisis period, the automobile industry, overseas mergers and acquisitions 1 Introduction The rapid growth of China’s economy since the reform and opening, the explosive increase of automobile industry in recent years and government’s supporting policies on the automobile industry altogether offer new opportunities and conditions to overseas M&A of China automobile industry. At present, China has become the largest automobile producer in the global. In 2009, the top ten automobile manufacturing countries were: China (13791000), Japan (7. 935 million), United States (5. 697 million), Germany (5. 206 million ), Korea (3. 513 million), Brazil (3. 183 million), India (2. 628 million), Spain (2. 17 million), France (1.935 million), Mexico (1. 561 million). Large-scale production capacity endows China auto companies with a base to expand overseas. Following the 2008 financial crisis, the global economic downturn has had the international Automotive Group faced with overcapacity problem; meanwhile, the global credit shortage has brought great pressure to the survival and development of the automobile business. Funding gaps emerged in many international auto giants. After the financial crisis, the asset value of many foreign enterprises is seriously underestimated, which gives a good chance for Chinese enterprises to take a shot. Through overseas M&A access to the dreaming international auto brands, the core technology and international marketing channels can be acquired at low costs. At the same time, Chinese auto companies have sufficient capital reserves at the present stage, and with the strong support from the government and national financial institutions, there is a potential for them to become competitive buyers for part of the international Automotive Group’s quality assets. It is worth mentioning that related departments in the Chinese government treat the auto industry as a pillar industry of national economy, giving it much positive policy support. â€Å"The automotive industry restructuring and rejuvenation program†, promulgated in 2009 increased efforts to support the automobile industry. First, the program states that â€Å"it is required to promote the restructuring of the automotive industry, to support M&A of large-scale automobile enterprise groups, to expand the scale of major auto parts enterprises through M&A. † Previously, the major auto companies were not willing to conduct cross-regional restructuring because of too many barriers. â€Å"The automotive industry restructuring and rejuvenation program† can effectively solve this kind of concerns. In related detailed ? [Sustentation Fund]: National Science Fund of China (70703030) , Zhejiang Province Science Fund (Y6080222), Humanity and Social Science Fund of Chinese Ministry of Education (07JA790083, 09YJC790240) 43 M & D FORUM regulations, associated guidelines are made which involve the acquirer and acquiree, such as the source of acquisition financing, tax issues that may arise in acquisition, the asset disposal of acquired companies and employee relocation and other problems prone to cause disputes or already existing barriers. At the same time, it will lift the standard of admitting foreign asset and acquiring related domestic enterprises to (protectively) enhance the competitiveness of domestic auto companies. In addition, in March 16, 2009, the Ministry of Commerce issued † procedures for the administration of foreign investment † to further reform foreign investment management system, promote the facilitation of foreign investment, support Chinese enterprises to â€Å"go out† and participate more in international economic cooperation and competition. These help to raise strong and positive support for overseas M & A of China automobile industry. 2 The Main Body of Overseas M&A of China Automobile Industry Before 2008, although there were many cases of overseas M&A in China automobile industry, such as SAIC’s acquisition of Ssang Yong in 2004, Nanjing Auto ’s acquisition of Rover in 2005 and so on, the overall impact and scale were still limited and attention from the domestic and international was not intense enough. From 2006 to 2008, the scale of M&A China’s major automobile companies has been further reduced, with the total number of only 7. It only covered 19% of the total number of Chinese car companies’ various overseas investment. Other overseas investment approaches were: 21 cases of joint ventures or strategic alliances, accounting for 57%, 8 cases of factory founding directly, accounting for 22%, and 1 case of technology transfer. But after 2008, when the world auto market is still full of financial cold haze, the Chinese auto companies went against the trend. A number of enterprises joined with foreign auto brands in carrying out cross-border marriage. In this short year, both the vehicle industry or parts manufacturers lunched many acquisitions either far-reaching or with extremely high degree of concern. Beijing Automobile Works acquired Saab, Geely acquired Volvo, Beijing West Industry’s acquisition of the U. S. Delphi, Geely DSI bought Australian automatic transmission companies, to name just a few. Overall, in the current automobile industry, China’s M & A main body is evolving towards a diversed boom. China’s automobile companies participating in overseas M & A are no longer confined to state-owned ones. Due to their growing strength and government’s supportive policies, private enterprises have become the new force, injecting new vigor and vitality into the overseas M&A of China automobile industry. However, state-owned enterprises are still the most important main body in cross-border M & A activities [7]. In this M & A wave, the Beijing Automotive, as one of the state-owned enterprises, successfully finished the acquisition of the Swedish brand Saab in December 2009. State-owned enterprises have an advantage of large scale, but often there is a serious deficiency in the governance, a general lack of motivation of in the management. A majority of state-owned operators have an incomplete momentum for cross-border M & A. The private enterprise, with their natural clear property rights, fewer policy constraints, and a flexible structure and mechanism are playing an increasingly important role in the wave of automotive M&A. Thanks to less intervention from the government and following less protection compared with the state-owned enterprises, private enterprises possess stronger self-awareness, risk awareness and a sense of competition. Increasingly powerful private enterprise group is supposed to become an important force in the cross-border M & A in the future [15]. In this M&A wave, the most distinctive representative of private enterprises is China Geely Group. As a leader of China’s private auto enterprise, in March 2010, it successfully reached an agreement with General Motors, purchasing 100% of the shares of GM’s Volvo. 3 A Study of Overseas M & A Cases in China Automobile Industry 44 M & D FORUM 3. 1 Overseas M & A cases of automobile enterprises In the choice of overseas M & A targets, China’s auto enterprises prefer developed regions like Europe and the United States, especially concentrating on world’s top 10 auto-producing countries besides China such as the United States, France and other places. The vehicle industry in these areas has long history, with many powerful brands, more developed economy, higher living standard and stronger consumer ability. In the choice of specific targets, Chinese enterprises are in favor of those enterprises that are of highly well-known brands, a long history, as well as advanced technology and experienced management. However, during this financial crisis, a serious setback in operating performance led some of these companies or brands to great losses or even near-collapse. Geely’s acquisition of Volvo and Beijing Auto’s of Saab is representative ones. They are very typical in this M&A wave starting after the financial crisis. 3. 1. 1 Beijing auto’s acquisition of Saab On December 28, 2009, Beijing Automotive Holdings formally announced the acquisition of relevant intellectual property rights of Saab cars at a cost of 200 million U. S. dollars. By then, Beijing Automotive has gotten the core data of the complete research, production, marketing, quality control system. This international transaction is the first successful case for a domestic automobile enterprise to carry out the acquisition of foreign advanced and complete vehicle power technology since 2009. As one of a few China’s Automotive Groups who not yet have their own brands, Beijing Automotive is very urgent on owning its own brand-related technology. So the successful marriage with the Saab is of great significance for Beijing Automotive to speed up the process of independent R & D and internationalization. 3. 1. 2 Geely’s acquisition of Volvo On December 23, 2009, Ford Motor Company released a statement of reaching a framework agreement to sell its Volvo to Geely. In March 28, 2010, Geely signed a definitive stock purchase agreement with Ford to buy 100% of the shares of Volvo Car at a cost of 1. 8 billion U. S. dollars and then signed a definitive agreement concerning related assets [32]. This saliva battles full of troubles ended with Geely tenaciously achieving its dream of â€Å"snake swallows elephant†. It is a spur for other domestic auto enterprises, also a major step for Geely towards the international market Simultaneously it helps the Volvo brand to further open the Chinese market,. However, it is not easy for Geely to â€Å"digest† Volvo. Whether it is because of the picky European Union, or high operating costs for brand, or cultural integration, especially the integration and management of Volvo’s distributors, factories and suppliers scattering over more than 100 countries and 2,400 regions. There are a series of huge problems. 3. 2 Overseas M & A cases of automobile parts enterprises After the financial crisis, overseas auto parts enterprises were faced with greater difficulties than full-vehicle enterprises. Bankruptcy and M&A happened frequently. Influenced by this round of auto industry structure adjustment, the integration of parts suppliers intensified, and M & A wave aimed at supplier groups resurged. Foreign well-known auto parts enterprises like Australian transmission company DSI, Delphi in the United States and so on occupy pivotal positions in the auto parts industry, and even have a significant impact on the development of the full-vehicle market. Direct purchase of foreign auto parts enterprises is local suppliers’ one way of gaining access to core technology. After the current financial crisis, the M&A cases of auto parts enterprises are quite frequent and also larger and more far-reaching than that of before the crisis. Such as Geely’s acquisition of the Australian transmission company DSI, Beijing West Industry’s acquisition of U. S. Delphi, WanXiang Group’s acquisition of the U. S. DS automobile steering shaft and so on. 3. 2. 1 Beijing West Industry’s acquisition of Delphi On March 31, 2009, Delphi formally agreed to sell its global businesses of braking and suspension to Beijing West Industry. Beijing West was prepared to pay 90 million U. S. dollars in cash to acquire Delphi’s related machinery and equipment, intellectual property and real estate, including its businesses of braking and suspension in eight plants, five technology centers and 14 technical support and customer 45 M & D FORUM service centers which locate worldwide. 3. 2. 2 Geely’s acquisition of DSI. On March 27, 2009 in New South Wales State’s Government Building, the signing ceremony of Geely acquiring Australian Automatic Transmission Company was held. According to a statement from Li Shufu, the Chairman of Geely Group, Geely conducts a wholly-owned acquisition of DSI for it values DSI’s complete designing and manufacturing capabilities accumulated over 80 years. DSI Automatic Transmission Company is an automatic transmission specialist centralizing research and development, manufacturing, and sales altogether. What is more, it is one of the only two global automatic transmission companies that are independent from all automotive vehicle companies. 4 Countermeasures and Suggestions for Overseas M & A of China Automobile Industry 4. 1 The selection of objects for overseas M & A First of all, when making overseas M & A, Chinese auto enterprises need to be careful of those M & A targets who already have no competitive advantage within the industry, and just to sell companies to reject the burden. Therefore, they should be especially cautious in the choice of Objects for overseas M & A and take various factors into consideration. Second, while doing overseas M&A, Chinese auto enterprises can not just focus on targets of low purchase price, but on the potential value of the enterprises after the acquisition. Therefore, the Chinese auto enterprises ought to choose targets that are consistent and coordinated with their own strategic objectives, and can complement their own businesses to achieve synergies; to choose overseas assets with low cost but are able to produce better results through the integration. Finally, in assessing M & A targets, priority should be given to smaller yet high quality objects in accordance with their requirements. M & A are to be done for many times, at small amount and with steady integration. 4. 2 A careful and scientific implementation of overseas M & A After enterprises have determined the strategic premise of overseas M & A consistent with their own development requirements, they need to compare the key links in tactic and carry on related initiatives. First, in M & A planning session, to establish a more comprehensive overseas assessment system; to do a comprehensive and quantitative research with regard to the status of the host country market, national policies and regulations, competition pattern, the main risks; to do further accurate assessment of the target company’s technology, independent intellectual property rights, operation status and potential value, weighing the risks and opportunities. Second, after selecting the target of M & A, a comprehensive understanding of the business-related technology, the details of intellectual property rights should be gained, and the specific items and amounts of M & A be finalized. To maximize benefits at the lowest cost by conducting effective negotiations. Third, after the transaction is completed, to assess comprehensively the differences of both managements in management philosophy, and the differences of staff in culture, values, benefits, remuneration and so on. To orderly propel the process of integration in achieving M & A objects. 4. 3 The implementation of the strategic resource reserves in overseas M & A To obtain opportunities of overseas M&A, auto industry are required to carry out resource reserves in four aspects. First, human resources reserves. The Chinese auto enterprises should consciously reserve all kinds of overseas M & A professionals as soon as possible. Second, M & A experience reserves. By continually accumulating experience through practices, enterprises can learn more about related laws and regulations, operating procedures, and precautions to reduce risks, and then improve the success rate. Third, M & A financial reserves. To fight for access to financial support from the government or large financial institutions. To ensure enough amount of money while minimizing financial costs. 46 M & D FORUM 5 Conclusion During post-crisis period, the China automobile industry is facing an unprecedented good opportunity in overseas M&A. With the support of concerning policies, the China auto industry is adopting an active global strategy. Through the integration of global auto industry resources, the international competitiveness force of China auto industry is enhanced in a great degree. In the process of overseas M&A, the China auto industry needs to actively carry out relevant strategic resource reserves, scientifically select acquisition targets, and carefully as well as scientifically implement specific overseas M & A strategy. Author in brief: Zhu Qin, PHD, Associate Professor, School of Economics, Zhejiang Gongshang University Email: zhuqin9871@163. com. References [1]. Stefano Rossiand Paolo Volpin. Cross-Country Determinants of Mergers and Acquisitions [M]. London Business School, 2002 [2]. Guo Jianhua. The global automotive industry changing situation report [R]. Beijing: Equality in Automobile Research Institute, 2009(in Chinese) [3]. RolandBerger Strategy Consultants. China’s auto industry development, in the current financial crisis the opportunities and challenges [R], 2009 (in Chinese) [4]. State Council Development Research Center of Industrial Economics Research Department, Society of Automotive Engineers of China, Volkswagen Group. China Automotive Industry Development Report [M]. Beijing: Social Sciences Academic Press, 2009. 7 (in Chinese) 47

Comparison of War - Free Essay Example

Sample details Pages: 3 Words: 775 Downloads: 7 Date added: 2017/09/20 Category History Essay Type Narrative essay Tags: Novel Essay War Essay Did you like this example? The two novels, All Quiet on the Western Front by Remarque and The Storm of Steel by Junger, are two different perspectives of a common theme, the theme of war. While Junger’s recollection of the war seems to glorify battle, Remarque strongly emphasizes the horrors of war. Throughout his novel, Junger seems to be a bloodthirsty murderer, whereas Remarque shows regret and remorse for taking a man’s life. Though each book gives a different perspective, both novels give a sense of patriotism to the reader. Throughout Remarque’s recollection of the Great War, he gives a very dark and truthful description of battle. â€Å"I know nothing of life but despair, death, fear, and fatuous superficiality cast over an abyss of sorrow. I see how peoples are set against one another, and in silence, unknowingly, foolishly, obediently, innocently slay one another. (263) This excerpt alone gives the reader a sense of the horrors of war. Remarque emphasizes the point th at people don’t simply kill, but they â€Å"innocently slay† each other. This adds to the dark tone of the novel, whereas Junger emphasizes heroics in his recollection. â€Å"The bravest push to the front shooting and bomb throwing. † (273). Junger glorifies the leaders of war by calling the men brave and at one point he describes a man’s death by saying that, â€Å"he slipped over to death smiling like a child† (274). Junger sees war as an inevitable part of life, and Remarque describes the whole thing as chance. â€Å"†¦every soldier believes in Chance and trusts his luck. † (101) After reading both novels, it is very clear that Junger is much more willing to take another man’s life. He even comes off as blood thirsty in excerpts such as â€Å"†¦ I threw away my rifle and rushed with clenched fists on to the road between the two sides. † (277). This gives the reader a sense the hatred that Junger had toward th e enemy. To charge the enemy with no weapon would be considered ludicrous and suicidal but Junger does it without a second thought. On the other hand, Paul from Remarque’s novel kills only out of the animal instinct of kill or be killed. After killing his first enemy in hand to hand combat he says, â€Å"Comrade, I did not want to kill you†¦ Forgive me, comrade; how could you be my enemy? † (223). This quote clearly shows Paul’s compassion and regret whereas Junger is a hardened officer who knows he cannot show emotions in front of his men. Both accounts of the war show a form of Patriotism. Ernst Junger clearly displays his patriotism by writing, â€Å"†¦we believe ourselves entrusted with the true and spiritual welfare of our people†¦ Germany lives and shall never go under! (318-319) Junger obviously believes in what he did and would do it again whereas Remarque, on the other hand, writes about how Paul and his men often questions why they f ight. Remarque writes, â€Å"We loved our country as much as they; we went courageously into every action; but also we distinguished the false from true, we had learned to see. And we saw that there was nothing of their world left. We were all at once terrible alone; and alone we must see it through. † (13) This is an ideal quote to show how Paul had lost faith in his government and in his commanders. He does not even know what he is fighting for, he doesn’t know who is making them fight and he doesn’t know why he must kill. He realizes that he must finish what he has started. There is no turning back. As you can see, even though both novels share a common theme of war, it is viewed in two very different perspectives. Junger’s book glorifies war and its heroics whereas Remarque views war as the closest a man can come to Hell while his heart is still beating. Junger clearly recalls why he is fighting and is strong in his patriotism but Paul, however, is confused on why he is fighting. He is only playing the cards he has been dealt. It is also very clear that Remarque’s character is not a born killer like Junger. Paul is simply just a kid who was handed a gun but war can harden anyone into a soldier as expressed by Remarque, â€Å"We were eighteen and had begun to love life and the world; and we had to shoot it to pieces. The first bomb, the first explosion, burst in our hearts. We are cut off from activity, from striving, from progress. We believe in such things no longer, we believe in the war. (87-88) Don’t waste time! Our writers will create an original "Comparison of War" essay for you Create order

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Benjamin Franklin And John Winthrop - 1651 Words

Benjamin Franklin and John Winthrop, men with different ideals, present the same notion that America should be presented as a â€Å"city upon a hill.† Franklin believed that the American dream should be presented as an ideal where men and women are equal and can both move up in social class on their own, practicing any religion they desired. On the other hand, Winthrop believed that the new world was a religious safe haven only for the Puritans. American Exceptionalism was overall the main focus, guiding America to define itself as a special nation founded upon democratic values and liberty. Benjamin Franklin believed in developing an America that respected all religions and thought the best of each and every other one. He believed that a†¦show more content†¦Franklin had a lot of respect for women, especially in a social setting. He did not a typical man’s perspective about women, he had a different understanding of women and their role in marriage. In his autobiography, Franklin spoke of his wife with compassion and appreciation quoting an English proverb â€Å"He that would thrive must ask his wife† (Franklin 62). Franklin respected his wife for her work ethic and considered himself lucky to such an amazing woman in his life. Through his respect for his wife, Franklin demonstrated a respect for all women and not just their ability to do basic household chores but their ability to perform difficult tasks in the workplace as well. He believed that there was room for women in the American Dream. During this time, women did not have very large roles in society besides being in charge or maintaining the household, but Franklin foreshadowed an America that would have women as a strong part of the workforce and leadership. He had high hopes that women would climb the ranks of society just as men did. Franklin, himself climbed the ranks society â€Å"having emerged from the poverty and obscurity in which [he] was born and bred to a state of affluence and some degree of reputation in the world† (Franklin 27). He had been raised by a humble middle class family, not being promised much wealth or land, forcing him to make a name for himself. Franklin, a man of the enlightenment,Show MoreRelatedPersonal Definition Of Morality By Benjamin Franklin And John Winthrop1208 Words   |  5 Pagesâ€Å"quintessential American†. Benjamin Franklin and John Winthrop created their own set of virtues to live by. Both of the prominent colonists drew from their past experiences, religious beliefs, and their beliefs about the foundation of human nature. Because he took an individualistic approach motivated by divine reward, Benjamin Franklin changed Boston’s idea of virtue from the Puritanical, community based morals set by John Winthrop decades previously. Examining the virtues Franklin and Winthrop lived by revealsRead MoreRalph Waldo Emerson, John Winthrop, And Benjamin Franklin1297 Words   |  6 Pagesmultiple years and several different answers have been given. Three American writers who have discussed this topic are Ralph Waldo Emerson, John Winthrop, and Benjamin Franklin. Each author has a different view over this subject. Emerson believes someone should not conform to his or her society, while Winthrop believes conformity is what will benefit society; Franklin on the other hand believes in a mix of both. Between all three, Franklin’s idea of a fusion between Emerson’s and Winthrop’s ideal modesRead MoreThe Ideal American Vision : Benjamin Franklin Vs. John Winthrop2087 Words   |  9 PagesVision: Benjamin Franklin vs. John Winthrop Billions of people all over the nation and world have heard of the ideal American vision to be defined as a perfect set of rules and regulations that provide the ideal conditions for living life. 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Governance and Leadership Management Governance Structure

Question: Describe about the Governance and Leadership Management for Governance Structure. Answer: Introduction This assignment discusses regarding the governance structure and the leadership approach at Wesfarmers Limited, which is one of the biggest conglomerate companies in Australia (Wesfarmers.com.au, 2016). During this assignment, the discussion and evaluation first focuses on the existing or current project governance structure of the company and at the same time, the discussion also covers the existing leadership approach of the company. After that, the assignment suggests an appropriate governance structure and leadership approach for the future benefit of the company. Evaluating the current project governance structure The governance structure of a company is the most important factor behind the success of that company. In the annual report of Wesfarmers Limited it has been mentioned that the project governance or the corporate governance structure of the company is satisfactory enough to secure the organizations success. The annual report has also disclosed that the corporate governance of the company has been formulated as per the 3rd edition of ASXs Corporate Governance Council (Wesfarmers.com.au, 2016). As per the project governance statement of the company, the board of directors is responsible to provide the return to the shareholders at a satisfactory level. At the same time, the board is also committed to meet all the interests of the stakeholders of the company (Wesfarmers.com.au, 2016). The basic role of the board members of Wesfarmers Limited is to prepare the best strategic direction for the company and to monitor the activities of the employees at management level. Apart from that, the board members of the company aim to increase and protect the interests of the stakeholders of the company. Adams (2016) mentioned that the board of directors of Wesfarmers Limited is committed to provide the best corporate governance practice. The primary responsibility of the Managing Director of the company is to monitor the daily management activities of the company (Sullivan and Gouldson 2016). Due to this, for any kind of mistake or faults in the activities at management level, the Manag ing Director is responsible. The program management at Wesfarmers Limited is also affected by the project governance or corporate governance of the company. Any kind of activity, whether it is at operational level or at managerial level is affected by the project or corporate governance of the company (Haigh 2016). The program management of the company became easier due to the strict corporate governance structure of the company. The project governance regulations at Wesfarmers Limited have suggested maintaining the high transparency level in every program management activity. With the help of the high level governance structure, the mismanagement of the programs can be avoided by the managers of the company (Kilroy and Schneider 2016). The corporate strategies of Wesfarmers Limited are aimed to develop a sustainable business in the international market. The higher management at Wesfarmers Limited has stated that the corporate strategies of the company have been formulated on the basis of the corporate or project structure of the company (Gordon 2015). Some of the corporate strategies of the company are as follows: Provide the best quality product and services to the customers of the company. Provide each information related to the operations of the company to the stakeholders in detail. Provide the proper salary package to the employees at fixed time in each month Maintain the high environmental standard during business operations Maintain a friendly working environment within the company and avoid any kind of conflicting situation (com.au, 2016). If all of the above strategies are evaluated then it can be identified that the strategies are developed in accordance with the corporate governance structure or policies of the company. The proper flow of information and providing high quality products and services clearly indicate that the company wants to meet the interests of the customers and other stakeholders of the company (Swoboda, Elsner and Olejnik 2015). Similarly, providing proper amount of salary at the fixed time indicates that the company wants to meet the interests of the employees also. The strategy of maintaining the environmental standard proves that the company wants to meet the interests of the society, which is also indicated by the corporate governance policies of the company (Mehmood and Hilman 2015). Therefore, from the above discussion, it can be understood that the corporate governance structure at Wesfarmers Limited maintains high corporate standard. However, currently, the corporate governance of the company is facing some issues, which is indicated by the management-employees conflict, customers complains and shareholders dissatisfactions (Wesfarmers.com.au, 2016). Currently, the frequency of employees-management conflict has increased at Wesfarmers Limited. Richards, Kjrnes and Vik (2016) stated that as the number of employees of the company has increased than the past years, the company is facing trouble in managing the employees. In support of that, Balogh (2016) added that the corporate or project governance structure at Wesfarmers Limited needs to be revised to handle the internal situation at the company. On the other side, in different surveys, it has been identified that many customers of Wesfarmers Limited have stopped to use the products of the company and they stopped to visit at Wesfarmerss outlets (Swerissen and Duckett 2016). This indicates that the company is failure to fulfill the interests of the customers properly, which indicates that the governance of the company is having some faults. At the same time, the surveys also disclosed that the shareholders of the company are dissatisfied to some extent because they are getting the return not at satisfactory level (Biddle 2016). Therefore, from this discussion, it can be said that the management at Wesfarmers Limited needs to improve the corporate or project governance policies or structure as soon as possible. Evaluating the current leadership approach The operational effectiveness of a company depends on the leadership structure or approach of it. In case of Wesfarmers Limited, the leadership approach is strategic leadership (Wesfarmers.com.au, 2016). The main benefit of this particular leadership approach is the responsibility of the activities is distributed to various people as per the organizational or operational structure of the company. Due to this, the people in the organization become more responsible and their operational effectiveness also enhances (Willmott 2015). At the same time, the flow of information becomes also smooth due to the strategic leadership approach. Gattorna (2015) mentioned that the strategic leadership tool or approach is an effective approach for any strategic project. This is because in this particular strategic leadership approach, the focus is made on each employee separately, which helps to gain the attention of the employees. However, Kilroy and Schneider (2016) stated that in the strategic leadership approach sometimes people take wrong decision, which affects the performance of the company. At the same time, Acker (2015) also commented that in the strategic leadership approach, too much focus is made on the decision of the employees. Due to this sometimes, huge conflicts take place between the employees. At this point of time, it becomes very difficult for the management to choose the decision of any particular employee. Therefore, ultimately the main aim of the leadership approach remains unfulfilled. Moreover, Gordon (2015) stated that the strategic leadership approach is more effective when the company takes any small project, but in order to run the overall business, the strategic leadership approach is not that much effective. Therefore, this is also applicable to the leadership at Wesfarmers Limited also because the leadership style at Wesfarmers Limited depends on the strategic leadership approach. Due to this approach, inter organizational conflicts at the company are increasing day-by-day, which is not good for the company. Moreover, in the strategic leadership approach, the company may face problem, if any dishonest person gets the chance to take decision. Hence, it is important for the company to improve its leadership approach immediately. Suggesting the new governance structure In the above discussion, it has been identified that in Wesfarmers Limited, the corporate or project governance structure and policies are needed to be changed. The company is facing several problems because of the loopholes in the governance structure and policies. Though the annual report of the company states that the corporate governance structure of the company is much good, the problems in the company indicates that there must be some loopholes in the governance structure (Farivar et al. 2016). However, the management of the company can improve the situation by changing the corporate governance structure and policies. In the new corporate governance or program governance structure, the company needs to reshuffle the overall structure of the governance. The head of the corporate governance will be the board of directors of the company. However, the board of directors will be set up as per the suggestions and confirmation of the shareholders (Newman 2015). It will be the prior duty of the board members to fulfill the interests of the shareholders properly. The shareholders of the company will also have the authority to appoint a separate auditing team to audit the financial reports of the company. This will help the company to remain transparent to the shareholders (Willmott 2015). The internal audit committee of the company will be set as per the advice and confirmation given by the shareholders and board members. In the internal audit team, some of the auditors will be appointed by the shareholders of the company and the other auditors will be appointed by the board members of the company. The board of directors of the company will also be responsible for appointing the risk review committee. The main responsibility of the risk review committee will be to assess the risks of the company in a particular year and on the basis of that assessment developing proper strategies to reduce the risks (Swerissen and Duckett 2016). On the other side, the board of directors of the company will also appoint the management team of the company. The board members need to select the best people in the company for the management team. The board members can select the members for management team from the external sources if required. At the same time, the board of directors of the company will also recruit the human resource management and compensation committee and governance committee (Gordon 2015). Therefore, in the above discussion it can be identified that in the new corporate governance structure, the board of directors of the company will be responsible for appointing the different internal management team of the company. However, the monitoring of the day-to-day activities of the company will be done by the lower level management team. The board of directors will only checks or monitors the final reports provided by the management team of the company at the end of each month. This will help the board members to keep a track on the activities of the management team. On the other side, as the shareholders will select the board members, the dissatisfaction level of the shareholders will be reduced to some extent. Apart from the new governance structure, the company will also require to improve the corporate governance strategies. The new corporate governance strategies of the company must consider the followings: The interests of the other stakeholders must be fulfilled properly. The information of the company must be reached to the investors and other stakeholders on right time and in detailed manner (Haigh 2016). The employees must work as a team and no internal conflict must be presented at the workplace. Regular verification of the financial statements must be done by the management team. Proper training and guidance must be provided to the employees at regular interval (Newman 2015). Therefore, if the company considers these needs at the time of preparing the corporate governance strategies, then it can be expected that the problems of the company will be solved easily. Suggesting the new leadership approach The discussion in the study has identified that the management at Wesfarmers Limited is currently following the strategic leadership approach. This particular approach is much effective for the success of the company (Biddle 2016). However, there are some problems with this approach, for which the company is facing and may face some problems. In order to avoid any kind of problem related to the leadership style, the company can change its leadership approach. The management of Wesfarmers Limited can adopt the participative leadership style. The participative leadership style is very effective in any kind of business organization. In participative leadership, the management of the company asks the employees to provide their views regarding any particular matter. However, the final decision of the company is taken by the management after considering all the views of the employees (Kjrnes and Vik 2016). Due to this, the decision or the strategies of the management become much effective and at the same time, the employees feel valuable to the company. Another positive side of participative leadership approach is that this particular leadership style is accepted by everybody within the organization (Gordon 2015). This ultimately helps in reducing the internal conflicts among the employees as well as between the employees and management. The morale of the employees can also be enhanced with the help of this particular leadership approach. This is very important factor behind the success of a company. Moreover, if the company applies the participative leadership approach, the employees will be motivated to provide their creative and innovative ideas to the management. Acker (2015) believed that the participative leadership style is very effective for increase the employees retention rate. As the employees of the company remain satisfied because of participative leadership style, they turn to loyal employees and do not want to leave the organization easily. Therefore, from the above discussion, it can be said that if the management at Wesfarmers Limited applies the participative leadership style, then they can run the business more effectively. The problem of internal conflicts among the employees and between the management and employees can be solved. At the same time, the management can easily motivate the employees in improving the performance level of the company. Therefore, it will be better for Wesfarmers Limited if it applies the participative leadership style. Conclusion In this study, it has been identified that the current governance structure and the leadership style at Wesfarmers Limited are much effective. The current governance structure of the company is focused on fulfilling the interests of the stakeholders. The board of directors of the company takes several steps to improve the performance level of the company and meet each requirement of the shareholders. However, currently, the company is facing some issues, which indicate that the governance structure and policies need to be changed as soon as possible. The study has recommended a possible governance structure, which the company can adopt to improve the current organizational situation and satisfy the stakeholders in better way. The study has also identified that the current leadership approach of the company is based on the strategic leadership approach. However, in this approach there are some loopholes, which can negatively affect the performance of the company. However, the situation can be improved by adopting the participative leadership approach. Reference list: Acker, C.D., 2015. Convergence: The Making of the Canning Stock Route Project and Yiwarra Kuju Exhibition.Cultural Studies Review,21(1), p.177. Adams, M.A., 2016. Contemporary case studies in corporate governance failures.Governance Directions,68(6), p.335. Balogh, A., 2016. Does Life-Cycle Influence Board Composition?.Browser Download This Paper. Biddle, I., 2016. The Wesfarmers/Woolworths duopoly war: The Bunnings vs. Masters battle.Busidate,24(3), p.3. Farivar, F., Farivar, F., Scott-Ladd, B. and Scott-Ladd, B., 2016. Growing corporate social responsibility communication through online social networking in Iran.International Journal of Organizational Analysis,24(2), pp.274-290. Gattorna, J., 2015.Dynamic supply chains: How to design, build and manage people-centric value networks. Pearson Higher Ed. Gordon, M., 2015. The long hard road to empowerment.Meanjin,74(3), p.91. 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Russias Entry into the World Trade Organization

Introduction Discussions of the opportunities and obstacles presented by Russia’s accession to the World Trade Organization (WTO) have been ongoing ever since the country entered into negotiations aimed at securing its membership of the world body in July 1995 (Sabelnikov 345; Afontsev 7).Advertising We will write a custom term paper sample on Russia’s Entry into the World Trade Organization specifically for you for only $16.05 $11/page Learn More It is the aim of this paper to critically discuss the opportunities and obstacles resulting from Russia’s entry into the WTO, not only for the country but also for the rest of the world. Opportunities for Russia’s Entry into the WTO Opportunities for Russia Available literature demonstrates that Russia’s accession into the WTO will not only advance the country’s opportunities to participate in international economic cooperation but will also facilitate its incorporation into the formal system of world trade and make its national economy more efficient (Sabelnikov 345). By joining the WTO, Russia will not only acquire new global trading frontiers and their advantages, but will also get access to international markets, as well as achieve non-discriminatory treatments of Russian exports into the international market (Iudaeva et al 8; Iudaeva et al 9). It is believed that WTO membership will have a positive effect on the productivity level of the Russian economy due to the increase in the importation of goods and services from other WTO countries, as well as the increase in foreign direct investment (FDI). As noted in the literature, imported products improve the quality of locally produced commodities; consequently, increased imports and FDI into the Russian economy will not only improve the quality of locally produced products but also the efficiency of producing these products (Afontsev 11). Additionally, Russian families are also bound to benefit immensely as a result of Russia’s entry into the WTO as available literature demonstrate that the decrease in tariffs, coupled with intense competition, will automatically reduce the prices of commodities and services and, as a result, trigger a decrease in annual spending for average families (Afontsev 9).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lastly, Russia is set to benefit from intellectual property protections and market economy awareness upon its entry into the WTO. Particularly, Russia is set to benefit from technology transfer from other WTO member countries, which is likely to fuel further economic growth and prosperity (Sabelnikov 348). Opportunities for the Rest of the World Russia’s entry into the WTO will not only improve access to its products and services markets by other WTO member countries (Stewart et al 1), but will also provide a ready market to products and services coming from foreign countries (Afontsev 9). On November 10, 2011, President Obama noted that Russia’s entry into the world trade body â€Å"†¦will generate more exports for American manufacturers and farmers, which in turn will support well-paying jobs in the United States† (Stewart et al 1). Additionally, according to these authors, Russia’s entry into the WTO will reduce the tariffs and other taxes imposed on commodities and services from WTO member countries. Finally, entry into the WTO will provide opportunities for international firms to invest in Russia. Obstacles for Russia’s Entry into the WTO Obstacles for Russia Russia must be ready to honor multilateral commitments and other rules and regulations governing the WTO, implying that it must grant access to the home market for foreign products, services and capital (Sabelnikov 346). Upon entry into the WTO, many foreign-based multinationals with more muscle than local companies will inject more FDI into the Russian economy and establish a presence in Russia, a scenario that may bring negative consequences for local companies by virtue of their limitation to compete on a global scale (Aslund 51). Many analysts warn that the opening of the home market to international products and services will crash Russia’s domestic agriculture, service, and industrial sectors (Yin 61).Advertising We will write a custom term paper sample on Russia’s Entry into the World Trade Organization specifically for you for only $16.05 $11/page Learn More Many Russian sectors and enterprises thrive on protectionist approaches (Aslund 50), implying that they will soon face difficulties adapting to competition in a free economy. Indeed, it is noted in the literature that many Russian corporations may soon be engulfed in deep-seated challenges as they attempt to master new rules of behavior on foreign markets (Sabelnikov 346). Russia must be ready to not only eliminate all trade barriers that it has kept for decades to protect local industries, but must also establish mechanisms for settling trade disputes recognized by international trade treaties and conventions (Yin 60). Still, on the market scene, many â€Å"†¦Russians claim that enterprises producing for the domestic market will be swamped by cheaper imports and foreign investors, while Russia will make little progress in entering foreign markets† (Yin 61). While it is not entirely true that many Russian enterprises producing for the local market will be swamped with low-value imports, it is indeed true that Russian firms may experience slow growth and challenges in international markets due to their inexperience in free market competition. Upon entry into the WTO, policy makers and mainstream commentators fear that the Russian economy will face the drawback of losses of sales and profits in competitive markets, particularly in the country†™s energy and agricultural sectors (Sabelnikov 346). Consequently, policy makers will have to find a way to ensure local industries do not close shop in the face of stiff competition from foreign establishments. Another drawback bound to hit Russia upon its entry into the WTO is the decline in the number of domestic jobs available due to stiff competition brought about by globalizing the Russian economy (Aslund 53). Indeed, some economic analysts are of the opinion that Russia may face a social crisis if it joins the WTO as it will definitely experience an increase in unemployment rates, particularly in its labor-intensive industries. Higher unemployment is also likely to occur due to the change in tariff reductions that may be demanded by the WTO (Iudaeva et al 7).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Obstacles facing the Rest of the World Other WTO member countries should also brace themselves for intense competition from Russia’s domestic companies. Available literature demonstrates that Russia is one of the largest economies (Stewart et al 2), and thus may exert considerable pressure in global markets as it compete to have a share of the market. Consequently, some organizations from less developed WTO member countries may be edged out of their traditional markets by Russia’s exports. Conclusion From the discussion, it is clear that Russia is set to benefit immensely from a WTO membership if it puts in place strategies and measures that will ensure its local industries are not adversely affected by the membership. The cumulative effects of Russia’s entry into the WTO include the promotion of economic growth through improved national and international competitiveness, enhancement of business through increased flow of goods and services, and expansion of oppo rtunities for Russian businessmen in other WTO member countries. Other WTO member countries are also set to benefit immensely from the opening of Russia’s economic landscape to the rest of the world. Works Cited Afontsev, Sergei. â€Å"The Political Economy of Russia’s Accession to the World Trade Organization.† Problems in Economic Transition. 46.12 (2004): 7-30. Business Source Premier. Web. Aslund, Anders. â€Å"Why doesn’t Russia Join the WTO?† Washington Quarterly. 33.2 (2010): 49-63. MasterFILE Premier. Web. Iudaeva, Ksenia, Evgeniia Bessonova, Konstantin Kozlou, Nadezhda Ivanova, Denis Sokolov Boris Belov. â€Å"Sectoral and Regional Analysis of the Consequences of Russia’s Accession to the World Trade Organization.† Problems of Economic Transition. 47.12 (2004): 5-67. Business Source Premier. Web. Sabelnikov, Leonid. â€Å"Russia on the Way to the World Trade Organization.† International Affairs. 72.2 (1996): 345-355. Academic Search Premier. Web. Stewart, Terence P., Patrick J. McDonough Philip A. Butler 2011, Opportunities and Challenges from Russia’s 2012 Accession to the WTO. PDF File. Web. Yin, Jason Z. â€Å"Can Russia learn from China in its Quest for WTO Entry.† The Chinese Economy. 42.3 (2009): 60-77. Academic Search Premier. Web. This term paper on Russia’s Entry into the World Trade Organization was written and submitted by user Alicia R. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.