Influence of Integration Managerial Accounting Skills on Small and Essay - 1

Influence of Integration Managerial Accounting Skills on Small and Medium Enterprises Business toward the Success and Growth of SMEs in Thailand - Essay Example This research will begin with the statement that SME has always been a very important aspect of the growth of national economies. Therefore, it becomes quite necessary to maintain the stability of the SME. The past evidence has the given enough of the significant contributions made by these SME toward the growth of an economy. The concentration of the SME within an economy is very higher and they face the completion from other SME’s and multinational enterprises. Therefore, maintaining a sustainable SME is the quite challenging task that requires a very effective integration managerial accounting skills. Besides, Thailand is rapidly developing the nation and in this regard, Thai SMEs have played a very vital role. Thai Government also strives to impose effective policies for SME developments. However, the government keeps trying to bring economic prosperity through SME development. On the other, the growth of SME also depends on the managerial skills of accounting and others. Chartered Institute of Management Accountants (CIMA) has identified the accounting skill set that includes analysis, strategy, risk, planning, and communication. In context to the rapid development of the Thai economy, the role of managerial practices in the growth of SME should be assessed for future of development. SMEs are exposed to a number of risks and challenges due to their vulnerable nature and size. The primary aim of the managerial practices in to overcome these challenge. Therefore, in order to present the theoretical background relating to this topic, the necessary theories that must be explained are managerial accounting skills like costing systems, risk management, budgeting, performance evaluation, financial communication and information for decision making and strategic analysis. Based on the core management accounting skills that include five major aspects i.e. financial communication and information, performance evaluation, risk management, and financial planning four hypotheses are framed and these are given.

Casing an Integral Part in Oil Drilling Assignment

Casing an Integral Part in Oil Drilling - Assignment Example Conductor casing does vary in diameters from 18’’ to 30’’ (Mid Continent, 2014). Freshwater zones are isolated from the well of oil by surface casting. This makes sure that the waters remain uncontaminated in the drilling and completion process. Such environmental issues have compelled some countries to put in place regulations governing cement quality as well as casting depth. A surface casting classic size is 18 5/8 inches. Intermediate casting helps minimize the hazards, which underground formations could pose to the well. It also prevents blowouts by supporting maintenance of hydrostatic pressure at the appropriate levels. Intermediate casing happens to the longest casting section found in a well. Liner strings at times can be used as an alternative to intermediate casting. They are less permanent compared to an intermediate casing and are used often for cost reduction (Mid Continent, 2014). The liner is hung right from the base of the prior casting interval and not from the surface, as a replacement for being cemented in place. Production casting is the final and it happens to be the deepest section of well casing. It does provide a channel for petroleum producing formation to the surface. Its size does depend on several considerations. For instance for a well expecting future deepening, production casing should wide enough for a drill bit to pass through. Well, a casing is done in sections (joints) of around 40 feet long and joined together in order to form long lengths known as casting strings (Rigzone, 2014). Every end of a casting joint does have male threads, which are under the protection of a thread protector, till the casings become ready for joining. A coupling or collar made of a cylindrical pipe that is short but longer slightly in diameter than the joints and has female threads connects the male joint ends (U.S. Department of Labor, 2014).  Ã‚  

Sport and Physical Activity in Social Exclusion Policy

Sport and Physical Activity in Social Exclusion Policy Critically assess the contribution that  sport and physical activity can make  in meeting social policy objectives  around social exclusion Introduction This report seeks to assess the contribution that sport, along with physical activity can make in contributing to and meeting social policy objectives with regard to social exclusion. The preceding represents an interesting as well as complex discussion in that it weaves a number of important terms into its framework. The first of these terms that will be explored is social policy, as this forms the foundational platform. Social policy, as noted by Alcock et al[1] is a difficult concept to define. They state that it, social policy, represents â€Å"†¦ an academic field of study is one of those curious items, rather like an elephant, which we recognise when we see it, but is notoriously difficult to describe†[2]. Considine[3], in furthering Alcock et al’s[4] statement, adds, â€Å"†¦ policy is a deceptively simple term which conceals some very complex activities†. Given the preceding, a more defined explanation of social policy shall be approached later in this examination. This report shall seek to accomplish its objective through a review of varied materials and sources to equate the foundational facets for the initiative, and where it is in today’s terms in achieving its ends. Context As brought forth in the Introduction segment of this report, various utilised herein terms represent areas needing further defining. Social policy represents one of these, which Coffey[5] advises there are three ways of attempting to definition it as the concept is subject to constant revision. This approach is also taken by Considine[6], who states that these three areas representâ€Å"†¦ when governments simply make some public announcement on homelessness, or the need to protect vulnerable children from abuse †¦Ã¢â‚¬  thus making a policy statement. He adds that the word policy is used â€Å"†¦ when public officials commit public resources to a program†, thus meaning that the allocation of money with regard to spending on health and welfare is called a policy. In proceeding with her explanation of social policy Coffey[7] first starts that â€Å"†¦ social policy has conventionally been used as a term to denote a set of policies and practices concerned with promoting social welfare and well being. The preceding definition has applicability with regard to the context of this examination, as it, the preceding definition, is usually â€Å"†¦ associated with the provision of social welfare through institutions of the State†[8]. In offering the preceding definition, Coffey[9] cautions us that the expanded role of social welfare has given rise to the fact that social policies can in fact â€Å"†¦ be made, enacted and implemented within and outside the auspices of the State†. In continuing to the second definition of social policy, Coffee[10] tells us that it builds upon the foregoing understanding, recognizing â€Å"†¦ social policy as a distinctive field of study†. In aiding our understanding, Coffee[11] states that conventionally, the study of social policy has been centred on the â€Å"†¦ Welfare State and its main social services †¦Ã¢â‚¬  as represented by housing, health, social security, education, and personal social services. The preceding areas are limited in that the foregoing does not open the sphere to the many applications of social policy in its modern context. In illustrating this, Coffee[12] advises us that in the broadest sense, social policy can be thought of as incorporating all governmental policy that has a social dimension. The third and last of Coffee’s[13] definition advises that social policy is â€Å"†¦ a distinctive academic discipline – not only with a (re) defined subject matter and empirical agenda, but also with its own theoretical and conceptual frameworks†. The significance of delving into the context and nuances of social policy has been engaged in as it represents a foundational facet of this examination, and as such, it is a fluid area that shifts and changes based upon the social context of the day. Social inclusion, as the other key phrase in this study is discussed by Abery[14] as also being a term that lacks a clear definition. The reason for the problem in establishing a clear-cut definition is that there are no definitive guidelines for a determination of the degree, context and or type pf what determines the amount of social interaction that is necessary for a person to feel included as a part of a community, thus, defining the level for social exclusion, and therefore inclusion remains somewhat ambiguous. In a book written by Atkinson et al[15] titled â€Å" Social Indicators: The EU and Social Inclusion†, they point to indicators as developed by the European Union as guidelines and yardsticks for social inclusion, as a result of the aforementioned ambiguity of the term. Abery[16] aids us in understanding that since social exclusion represents a perceived factor that can take in age, race, cultural background, as well as peer groups and other defining facets, socia l inclusion is also guided by the same processes. It, social inclusion, is a perception in some regards that has backing from definitive factors, thus its status as a program with the European Union as a result of the social diversity in its member countries[17]. Social Inclusion, the Foundations and Approaches Social exclusion was addressed in the writings of Walker and Walker[18], which chronicled the growing financial, diversity and social divides that were impacting the UK as a result of immigration, and parts of the indigenous population as the spread between demographic groups, the lower end, and the middle and upper middle class, continually widened. The factual foundation for this divide, is that the United Kingdom has almost double the amount of households classified as poor than Belgium, Denmark, Sweden, Holland, or Italy, with an unemployment rate in the late 1990s that approximately one fourth of all males[19]. Thus, as Collins and Kay[20] report, poverty represents a foundational facet of exclusion, thereby representing a core facet that needed addressing as part of governmental efforts to include less fortunate groups. In the United Kingdom, the Social Exclusion Unit[21] in a report to the Prime Minister put forth objectives and potential solutions to the problems of the development of a means as to how to †¦develop integrated and sustainable approaches to the problems of the worst housing estates, including crime, drugs, unemployment, community breakdown, and bad schools etc. The report also stated that â€Å"Social exclusion is a shorthand term for what can happen when people or areas suffer from a combination of linked problems such as unemployment, poor skills, low incomes, poor housing, high crime, bad health and family breakdown†[22]. The initiative involving social inclusion in the United Kingdom emanated from the Lisbon Summit[23], whereby the member states of the European Union were committed to proceeed with the promotion of social cohesion, along with inclusion, as a what they termed as a strategic goal. One of the areas that Collins and Kay[24] identified as a means to combat social exclusion was sport. They cited the works of Goodale and Witt[25] that uncovered that there were barriers that people in lower income groups faced in partaking in recreational activities. However, income was not found to be the only factor, as other constraints as represented by appearance, social and physical factors were also identified as being facets that contributed to exclusion by what were termed as gatekeepers such as facility managers, sports development officers, coaches, teachers, and or club officers â€Å"†¦who select who is in and who is out of groups, and societys representatives who label people as different†[26]. The impact and range of the preceding is brought forward in a study conducted by Harland et al[27] they chronicled the constraints as well as exclusionary aspects in sport and leisure activities in the UK, as shown by the following: Table 1 – U.K. Constraints and Exclusion Charts for Sport and Leisure Activities in the United Kingdom[28] The preceding reveals that poverty does add an extra dimension, intensity, to the other factors as it locks people in through the accentuation of â€Å"†¦their feeling that they are not autonomous agents, capable of bringing change to their lives†[29]. In a report as conducted by Driver and Bruns[30] 105 differing benefits were listed that accrued to individuals for participation in sports. In many instances, the benefits enhanced the community as well. The preceding findings led to the development of a report that was made by Sport England, in collaboration with the Local Government Association that looked at the value of sport participation: Table 2 – The Benefits of Sports Participation[31] NOTE: â€Å"a† stands for Parks and Recreation Federation of Ontario (PRFO), â€Å"b† represents the Hillary Commission (HC), â€Å"c† stands for Sport England (SpE), and â€Å"d† represents Local Government Association (LGA). In taking the foregoing and soliciting the views of the staffs of local authorities in the United Kingdom, Long and Sanderson[32] surveyed leisure officers as well as departments, and found the following: Table 3 – Potential Benefits of Sport as Perceived by Local Authority Staff (Percentage Citing as very important) [33] The inequalities in sport participation were brought forth in a study conducted by Sport England[34] to bring forth the facets of social exclusion, highlighting social disadvantage, gender, disability, and ethnicity, looking into the equity policies as well as programmes for twelve sport zones. The study, along with the other studies and reports referred to, reveal that sport inclusion for lower income as well as minority groups is limited overall, indicating what Collins and Kay[35] term as an â€Å"†¦ economic gradient in sport and leisure†. Table 4 – Inequalities in Participation in Sport by Social Class. Conducted from the 1960s to the 1990s[36] The foregoing examples and information has been utilised to provide a clear framework of understanding that social exclusion has many veneers, of which unemployment, income, ethnicity, disability, along with being a single parent are its faces. Thus in looking into the subject of social inclusion, and policy objectives these broad factors must be considered. Discussion and Analysis Coalter[37] tells us that from an organisational context, the United Kingdom has a history of strong voluntary associations and social capital invested and utilised in sport. As an entertainment medium, sport has long been known as a vehicle that initiates and fosters social change, as evidenced by the participation of minorities in sports that that have been long associated, as well as new sporting areas whereby they are paving new participation grounds, such as golf, with Tiger Woods, motor sports, with Lewis Hamilton, and tennis, with the Williams sisters. The previous segments of this report have brought forth past circumstantial facets that are important underpinnings and information base foundations from which to understand the nuances of social exclusion and sport in the United Kingdom. That foundation represents an important facet in the understanding of the economic as well as political aspects that underpin sport policy. The PAT 10[38] advises that sport participation has beneficial aspects in terms of social impact. The report stated that the use of sport in community settings can encourage the building and maintaining of strong community groups, build confidence, contribute to neighborhood renewal as well as improve health, reduce crime, aid in employment, and bring benefits in higher grades[39]. The foregoing is claimed by the Policy Action Team[40] as resulting due to â€Å"†¦its wide popularity and inherent properties, sport can contribute to neighbourhood renewal by improving communities performance †¦Ã¢â‚¬  citing the prior four key indicators (health, crime, employment and education). The findings of the PAT 10[41] report found that the preceding four areas are impacted positively in deprived communities as a result of 1. the appeal of sports to the interests of individuals in the development of their self confidence and potential, 2. providing a foundation for community identity through collective effort, 3. the building of positive links to the broader community, and 4. is associated with industries that are experiencing rapid growth. The issues that need to be overcome in the establishment of sporting and recreational activities are 1. projects that have been tailored to policy and programme criteria rather than the needs of the community, 2. projects and or programmes that are created with perspectives that are short term, 3. the promotion of sports as well as arts in communities whereby they are seen as being peripheral as opposed to being involved in the cultural and needs of the programmes conducted, 4. the need for studies and relevant information concerning the impact of sporting activities and the arts, and 5. the poor connective links between sporting bodies, local authorities, and schools grades[42]. The PAT 10[43] report listed the following areas are being important in the exploitation of sports as a process in communities that contribute to regeneration, 1. diversity needs to be valued, 2. local communities need more control, 3. equitable partnership need to be developed. 4. the defining of objectives that are aligned with community needs, 5. sustainability in programme development, 6. ensuring quality and equality across all spectrums, and 6. setting the programmes for a connection to mainstream sporting activities. The report advised that sports are an activity that people can consume, meaning as spectators and as participants, thus involving the players as well as their friends, family and community to create a binding effect when utilised proactively (Policy Action Team, 1999)[44]. The key glue is participation and involvement that takes in the policy side, meaning planners and staff, as well as the community side. In order to make the lofty objective work as identified in the PAT 10 report[45], the government sought the input of the Strategy Unit as well as the Department for Culture, Media and Sport (DCMS) to provide workable recommendations concerning a long term policy for sport that took in the preceding foundational facets as identified by the PAT 10 report. The objective of the preceding was to uncover ways in which to improve the delivery of governmental support, which resulted in four key recommendations. The first of these was to create and enhance Grass Roots Participation, along with initiatives needed to overcome the barriers to more active involvement, with the focus of the preceding aimed at young people, economically disadvantaged, older age groups as well as women[46]. The second area was termed as High Performance Sport, which called for the prioritization of which sports would be funded in what percentages, including talent development and funding streams that focused on bett er delivery to communities and people[47]. Mega Sporting Events were ide

Sherlock Holmes :: English Literature

Sherlock Holmes What qualities are there in Conan Doyle's Sherlock Holmes stories which have sustained their popularity for so many years? Conan Doyle was among the first writers of detective stories and novels in England. The first novel recognised as a detective story was written in 1868, by Wilkie Collins entitled "The Moonstone". Later in 1870, the popular novelist Charles Dickens also tried his hand at writing a detective novel called "The Mystery of Edwin Drood". These early detective stories have not become as famous as Doyle's creation for a number of reasons, one of which is that when Doyle began writing his novels there was a greater demand in general for stories, as more people were becoming educated and were taught how to read. Consequently, when the stories about Holmes were published, there was a growing readership in England, greater than there had been in Dickens' and Collins' time. Furthermore, the fact that dialect was rarely used in any of the Sherlock Holmes stories, unlike other works of the time, made it easier for people to read and understand the content, particularly those who had only recently acquired the basic skill of reading. In addition, as the stories were originally published in the "Strand" magazine, this made them fairly accessible, and therefore they enjoyed a wider social readership. The stories were often shorter than those of other writers, and thus avoided unnecessary detail. Generally, the stories have a distinct and succinct plot structure and were supported by illustrations, which I suggest, played a part in the general success. Because the popularity of his detective stories increased rapidly, yet at the same time Doyle was becoming more and more uncomfortable with his character. He wanted, out of personal preference to devote greater time to other forms of writing. He decided that the best way to do this was to end the life of Sherlock Holmes with a dramatic story involving Holmes' worst enemy, Professor Moriarty. Doyle sent his famous detective and his enemy plunging to their deaths at the Reichenbach Falls in Switzerland. Doyle, however, had underestimated the popularity of his character, because when his followers read "The Adventure of the Final Problem" there was a public outcry over his action. He received many letters from infuriated readers and some men actually marched through London, wearing black crepe bands around their hats, indicating their remorse for the death of their favourite detective. It has been suggested that it was the popularity of Sherlock Holmes, which kept the "The Strand" magazine in business, and when Doyle's stories did not appear in it, there were fewer copies sold, showing the tremendous popularity of the detective.

Religion, Politics and Economy

Through the analysis of archaeological evidence and sources, historians are now able to gain insight into how society functioned in Pompeii and Herculaneum. Though several factors made up these societies, this essay will only examine three; religion local politics and economy to create a picture of how society was. The citizens of Pompeii and Herculaneum were very religious and believed everything in their lives was controlled by the gods. We can see the importance placed on religion from the ten temples in the area, some of which are the Temple Of Jupiter (Capitolium) and the Temple of Apollo.To be a ‘good Roman' pietas, reverence of the gods was required and was an integral part of the persona of any respected Roman. They worshipped many gods, primarily Graeco-Roman deities such as Mars (Aries) and Venus (Aphrodite). The temples had two functions – to house images and objects associated with the god and to be a place where rituals were carried out by priests to honour the gods. They were simply built and contained a statue of the deity which stood before an alter where an offering could be made.The Temple of Apollo on the left and the Temple of Jupiter on the right Gods were orshipped both in public and in the home. Cicero states ‘The most sacred, the most hallowed place on earth is the home of each and every citizen. There are his sacred hearth and his household gods, there the very centre of his worship, religion and domestic ritual. ‘ Most houses had small shrines called Lararia with small statues or painted images of the Lares (household gods who protect the home and family) or other household gods such as Vesta, the goddess of the hearth and Panates, guardian of the pantry.Some houses had images of a genius who was the spirit of the paterfamilias (master of the house). Lararium in the House of the Vetti, showing the Genius between two Lares Statuettes of Lares in House of the Golden Cupid With the spread of the Roman Empire came new foreign religions and cults which were generally tolerated. The Egyptian cult of Isis became popular and appealed especially to the poor and oppressed thanks to the promise of immortality and rebirth. After the earthquake of 62 A.D, the temple of Isis was rebuilt the most elaborately showing how much she was valued. Images of Isis and other Egyptian deities could also be found in homes. Dionysus, the Greek god of fertility and divine intoxication, was worshipped under the ame of Bacchus. A fresco found in the Villa of the Mysteries depicts him initiating members into his secret society. The worship of Mithras that originated is Persia was also common. The Temple of Isis The imperial cult transcended all other cults and the emperor offered every citizen the opportunity of worshipping him.Worship of the emperor was the most important as we can see through the Temple of Vespasian, the temple of Fortuna Augusta which housed a statue of Augustus and the forum which celebrated the imp erial glory through triumphal arches and statues. Altar at the temple of Vespasian ocal politics is shown by the number of political buildings in the forum including the Comitium (voting hall), Basilica, which was originally a law court but morphed into a meeting place for businessmen and politicians, and the three government offices.The electorate consisted of two Duumviri elected each year who has potestas (official power) and the responsibility to oversee revenues and taxation, preside over the town council and perform Judicial roles in court, two Aediles elected each year who were responsible for the care of temples, streets and public buildings and the olding of games, two Duumviri Quinqennales were chosen every five years which performed the same tasks as the Duumviri in addition to revising the citizenship and council roles, and a Prafectus lure Dicundo, who only had power in an emergency.There were various roles that were not accompanied by official political power but were still important. Being a member of the town council (curia), which consisted of eighty to one hundred members, was one such role. The members had influence within the community and needed dignitas and respect from other members before being appointed. A Roman with political ambitions would need to be a free, wealthy man who was driven, had a reputable family or made a good name for himself, have significant dignitas and auctoritas and have connections with those in higher ranking positions.Patrons assisted clients who sought political advancement in return for support in the election campaign. Women did not have the right to vote and weren't allowed to run for any of the political positions but despite these restrictions women could still have a large influence in society as they had â€Å"borrowed† auctoritas from the men in their family. Studies conducted by Frances Bernstein of the University of Maryland revealed that at least seventeen of the electoral notices show women who, with their husbands, were clients of candidates for office.On the wall of a Pompeian house, one Lollia, With her people', most probably her family, urged the election of Gaius Julius Polybius as duumvir, one of the chief magistrates. Most of the evidence for politics comes from inscriptions, graffiti and painted notices. Two thousand of these in Pompeii have been classified as electoral notices announcing support for a candidate and calling on the reader to vote for him. An example of this is â€Å"If upright living is considered any recommendation, Lucretius Fronto is well worthy of office† and Note for Lucious Popidius Sabinus; his grandmother worked hard for his last election†.The Amphitheatre at Pompeii is inscribed with a plaque stating the duumviri paid for it as a gift to the citizens and the statue of Marcus Balbus and memorial alter in the baths at Herculaneum suggest he funded the baths. The economies of Pompeii and Herculaneum were small and local, yet d iverse and successful due to their prime location on the sea and as Strabo recounted surrounded by the fertile volcanic soils of Mount Vesuvius. † A mosaic discovered in the House of Scaurus with the words ‘Profit is my Joy shows that they had enthusiasm for money making.The economies functioned by the circulation of money through businesses such as pistrina (bakeries), cauponae/taberna (inns/taverns), thermopolia (hot food bars) and fullonica (laundries). Jongman stated that â€Å"agricultural production was the largest contribution to the economy. † Trade was vital to create an income and to help the diverse economy flourish. Most of Pompeian imports and exports are deciphered through pottery. The analysis of these sources show that they imported Egypt and furniture from Naples. Evidence of exports comes from garum Jars found in France and wine amphorae in France, Spain, Germany and Africa.Jongman (2009) argues that fullonicas weren't a significant industry but contradictory to this Seneca indicates that 600 sheep died in the earthquake and 18 fullonicas were discovered including the House of the Wooden Partician in Herculaneum where a clothes press was found and the Guild of fullers in the Eumachia building. The fulleries were the clothes makers and cleaners of society and they performed multiple tasks including he processing of wool and the washing, cleaning, rinsing, dying and brushing of cloth. The Pompeian workshop sign of M.Vecilus Verecundus showed the process involved which included the washing of the wool in a combination of what was called fullers earth which consisted of earth, potash, carbonate of soda and urine, which was then trodden on by slaves and hung out to dry. One of the largest fullonicas found was the famous Fullery of Stephanus which was installed in a dwelling on the Via dell'Abbondanza. At the entrance was a machine for pressing tunics, a basin in the atrium and a previous peristyle now containing more basins for the dying rocess.Pots were placed outside the fullonicas and on street corners to collect urine from passer byes as the preferred camel urine was a luxury and costly item. In Pompeii and Herculaneum clothing represented status and keeping clothes clean was necessary to be presentable and maintain that status. Over thirty bakeries have been identified in Pompeii with ovens heated with vine branches. Bread was popular because most homes didn't have ovens and it wasn't expensive. Bakeries grinded grain on lava stone mills which would press it into flour. The flour was then mixed with water and set on tables for kneading.A mule or onkey turned the mill as we can see from donkey skeletons found in the mills of Herculaneum. Bread was usually sent to be sold in shops but not always as some bakeries had connecting shops and sold their own bread. An example of this is N. Popidius Priscus, who used his freedmen to run the Bakery of Modestus in which 81 loaves of bread were found from the day of the eruption. This bakery shows the economic connections between ex-slaves and the upper classes. Twenty five different pans were discovered at Sextus Patulcus Felix's shop in Herculaneum which provides evidence that a variety of cakes and breads were on offer.

Critical Review for the Article Essay

The electronic journal entitled: ‘The Long-Term Performance of Horizontal Acquisition’, by Laurence Capron of the Institut Europeen d’Administration des Affaires (INSEAD), published in 1999 by the Wiley and Sons publishing, has studied the creation of â€Å"horizontal mergers and acquisition†. In Capron’s paper, he dated his studies from mid-1980’s to early 1990’s financing strategies of firms in divesting and liquidating its assets which he referred as the â€Å"horizontal mergers and acquisition†. Capron has cited about 253 firms in Europe and America that patterns the financing strategies. According to Capron (1999), examination reveals divestment of assets and capital infusion (re-financing of liquidated assets) makes effective to â€Å"acquisition performance†, but could have potentially detrimental impact. As what Capron emphasized on the performance of acquisition based on â€Å"divestment and redeployment (re-acquisition) of resources†, his study examines the defects and compliments on effective means in â€Å"horizontal mergers and acquisition†. Key points and rationale As reviewed from the journal, the â€Å"horizontal acquisitions† may be exemplified as a means and strategy in establishing the resource-divestment scheme, in which by doing so, it â€Å"optimizes or exploits the values of cost-based and revenue-based synergies† (Capron 1999: p. 988). As explained, it may be perceived that the â€Å"synergy† patterns the continuing acquirement of business values, as a result of divestment wherein merging of the newly diversified firm or business values acquires more assets and capital budget. According to Capron (1999), the cost efficiency theory emphasizes on the significance of cost-based synergies that occur when assets have been divested resulting the integration of cost-saving measures. Thus, the firm performs effectively in enhancing its revenues that synergizes with the redistribution of the capital towards an enhanced capability. It may be analyzed from the findings of Capron that the 1980’s and 1990’s rapid growth of industries brought about by globalization have emerged more investments in the supply chain. One of which is the positioning of developed and high-end industries within raw material sources. Like, for example, diversification process has been developed in Asian countries wherein more investment in cheap raw materials and labor are available and can be acquired easily. The â€Å"horizontal acquisition† could be drawn from establishing partnership, subsidiary in operation, joint ventures and inter-dependency in export and import schemes. Hence, for example â€Å"Company A† has divested in establishing â€Å"Company B† to engage in tire manufacturing that source out the cheapest raw materials. In which case, a diversified industrial firm could venture out into â€Å"versatile† business values that optimize capital investments for a larger revenue generation translated into cost effectiveness that means substantial profitability. In Capron’s finding, the so-called â€Å"economy of scale† became the bases of diversification process that paved the way to a â€Å"large-scale† industrialization. The 20th century practice of the economy of scale has favored more industries to capture the â€Å"investment areas†, specifically in poor countries. The â€Å"dispensation of merging† through open-ended stockholding in small-medium-large enterprises units has put significant relevance in acquiring industrial partnership, wherein capital investment has a critical role in merging companies. As cited from Capron’s findings, the logical economic explanation is capturing revenue-based synergies which are commonly identified as allocating and complementing resources by providing â€Å"core competencies† or â€Å"mobilizing invisible assets† (Penrose 1959; in Capron 1999: p. 989). As cited, Capron also pointed out in his â€Å"theoretical model† of post-acquisition and target redeployment (Capron 1999: pp. 990-995). According to Capron, the theory describes the diversification process as focusing on (1) asset divestiture, (2) cost-saving, (3) resource redeployment, and (4) revenue-enhancing capabilities as an effective means of â€Å"acquisition performance† (Capron 1999: p. 992). The theoretical model refers to and explains the â€Å"basic economic behavior† as outlined in the acquisition performance. Capron further theorized that capabilities in a divested firm are being distributed as an organizational undertaking. Meaning, it can be explained that the system of corporate governance and human resources are distributed or being shared that composes the acquisition performance. However, key â€Å"organic elements† were emphasized to have been integrated in the divestment process, in which the re-deployment (or deployment) of the organizational â€Å"system or setting† are acquired. Conclusion Capron’s examination on the horizontal acquisition and projection of model in strategic post-acquisition and redeployment could be understood as a fundamental undertaking in diversification process. It may be true that most of merging firms in their acquired assets or business are mainly distributing their in-placed â€Å"organizational or corporate system†. However, the merging firms could likewise optimize or â€Å"streamline the existing organizational set-up, which is the common occurrence in most firms that undertaken a â€Å"buy-out†. It may be perceived that the revenue-generation could be largely acquired into options by streamlining the existing organizational set-up or re-organizing both human and capital resources. Capron’s findings have emphasized more on the performance capability on the theory of â€Å"horizontal acquisition† referring only to capital budget, as implied on the capital resources or fixed assets of the firms. The human resource aspect [as a critical unit] of the post-acquisition process may have not been well emphasized. What has been generally discussed in the study is the transformative business value in divestment schemes referring to capital investments and fixed asset liquidation. It could be reflected that the capital investment and fixed asset liquidation are the critical factors in the divestment schemes as the primary resource of merging stakeholder. It could be suggested that the â€Å"potentially detrimental impact† [as also pointed out by Capron] could be referred to the human resources or labor force in a diversified industry. The merging stakeholder in Capron’s findings were much given relevance on how they could effectively perform in targeting their post-acquisition and redeployment, in which the study itself envisions to complement the performance capabilities of the stakeholders. At this point, we may re-examine Capron’s â€Å"theoretical model† as giving more â€Å"weight† to the envisioning of transnational and multi-national enterprises in furtherance of globalization, in which the continuing divestment scheme competes in the large scale economy of labor market and capital build-up. We may then conclude that Capron’s findings could be re-examined with further studies relating to human resources re-deployment or deployment on its horizontal development complementing the diversification of industries, in which the parallelism envisions both human and capital divestment. Section B Morrison’s bid to Safeway The electronic magazine of the Financial Times on its December 8th 2003 issue at the www. ft. com web site has published the news article of Richard Milne entitled: ‘Countdown Starts for Morrison’s Bid for Safeway’. According to the news article, the Morrison Supermarket bided 21 days from its competitors, such as Tesco, J. Sainsbury and Asda-WalMart, following the UK government’s offer to sell the Safeway supermarket. The UK Department of Trade and Industry disclosed that â€Å"Morrison was willing to sell its 53 stores if acquisition of Safeway is successful† (Richard Milne 2003; in Ft. com 2008). Morrison’s negotiation was favored by the UK Competition Commission that disqualified the three major competitors from the bidding and upheld Morrison to takeover Safeway with a share of 219-1/2 from the 279-1/2, in which Safeway acknowledged the buy out. In a follow up report in 2004, after a year of the buy out, the Safeway has gained 40% of sales growth. Financial analysts claimed that Safeway has â€Å"migrated customers† to Morrison supermarket, as it cited that â€Å"quality of sales has gone better because Morrison has stopped the Safeway policy of rolling deep discounts† (Martin Dickson 2004; in Ft. com 2008). Perception of the issue Morrison’s takeover of Safeway supermarket has gauged the situation of significant financial divestment venture. The business potentials of Safeway [being an established supermarket that solely competes with Tesco, J. Sainsbury and Asda-WalMart] were the â€Å"strong intent† of financial divestment of Morrison to even offer the sell of its 53 stores. The financial divestment of Morrison could be relating Capron’s findings on the â€Å"horizontal acquisition† of merging stakeholders by way of capital investments through diversified assets. In which case, the Safeway supermarket has found by Morrison as a â€Å"potential divestiture† that shall absorb the vulnerability from tough competitors. The merging of stakeholder through a buy-out or takeover of an established investment [like Safeway] may have validated Capron’s theory of â€Å"post-acquisition and redeployment†, in which Morrison has able to â€Å"contain† the migratory customers and could further develop the acquisition performance of divesting financial investments. The divestment process of Morrison’s takeover to Safeway has likewise described Capron’s finding on merging firms that engages in the economy of scale. One that Morrison has learned from the Safeway’s enterprise approach on rolling deep discounts, wherein it found to be defeating the â€Å"selling schemes†. Thus, managing the risks in â€Å"horizontal acquisition† has gained Morrison’s capability to undertake strategic competition that transformed the â€Å"old Morrison business† through the new outfit of Safeway supermarket. It may be then generally perceived that Capron’s theory on â€Å"horizontal acquisition† has transformative business value in enhancing the financial investment and liquidating a frozen asset [like Morrison’s 53 stores that are non-performing], of which a â€Å"unilateral† financial divestment scheme in managing risk investment, that is vulnerable to tightened competition, gains flexibility upon acquiring an established business venture. However, this assumption is perceptive of a challenge to the continuing financial divestment of core industries in the global market. List of References Capron, L. (1999) ‘The Long-Term Performance of Horizontal Acquisition’. Strategic Management Journal, pp. 987-1018, John Wiley & Sons, Ltd. , CCC 0143– 2095/99/110987–32. Dickson, M. (2004). ‘Companies UK: Safeway Sale’. The Financial Times (2008). [online] available from