Company Law for Trevor v Whitworth (1887) -MyAssignmenthelp.com

Question: Discuss about theCompany Law for Trevor v Whitworth (1887). Answer: The Doctrine of Capital Maintenance The doctrine of capital maintenance is considered most vital principle amongst the principles of the corporate law. This stipulates that the amount of capital received by a company must be paid to the members only under certain circumstances as the company is bound to receive appropriate consideration for the shares issued by it. In order to ensure the safety of the creditors, the companies hoard the capital. Acting as a supervisor, the court ensures the lawful dispersion of capital (Birt 2014). Trevor v Whitworth (1887) was the case in which the doctrine of capital maintenance was established. In this case, the House of Lords stated that the company is not permitted to acquire its own shares as it results in reduction in the companys capital. Further it was held that the capital shall not be received by the members unless there is a deduction in the capital as per the authorization of the court. According to the vital features of this doctrine mentioned by Jessel M.R, in context of the Flitcrofts Case, the company does not have the permission to buy its own shares. A company is bound to pay dividends to the shareholders out of the profits earned. A company is not allowed to provide any kind of assistance in terms of finance for the purchasing of its own shares. Lastly, the various legal rules relating to the deduction in share capital and the reserves of the company are outlined by this doctrine (Ferran and Ho 2014). Section 256 A, 256 C of the Corporations Act 2001 of the Australian corporate law has incorporated the Doctrine of capital maintenance. The provision focuses on ensuring that the interests of the shareholders and creditors are protected and there is fair dealing between the two parties. Section 256 C states that the company is allowed to reduce its share capital only after obtaining permission from its shareholders and only after ensuring that the company shall be able to make proper payments. Due to changes in modern businesses, certain facets of the doctrine were relaxed in 1998. However, section 256 B permits the companies to reduce share capital and section 257 A allows the companies to buy back their shares. The more effective capital system provides better protection to the creditors (Hannigan 2015). Therefore, it can be concluded that the doctrine failed to provide legal protection to the creditors despite several amendments. It is recommended that the Australian corporate law must reduce the restrictions imposed on the companies in order to ensure effective expansion of businesses. References: Birt, J., Chalmers, K., Maloney, S., Brooks, A., Oliver, J. and Janson, P., 2014. Accounting: Business Reporting for Decision Making 5e. Ferran, E. and Ho, L.C., 2014.Principles of corporate finance law. Oxford University Press. Hannigan, B., 2015.Company law. Oxford University Press, USA. Trevor v Whitworth (1887) 12 App Cas 409

Purchase Essays Tips

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The Easiest Topic to Write About For an English Paper

The Easiest Topic to Write About For an English PaperThe easiest topic to write about for an English paper is one that has a high 'cliff' for students to climb. A topic that involves grammar rules, or vocabulary that students need to know for a subject, is a natural choice. Many students will accept this as their easiest topic to write about, and they can get them from the material that is offered by their textbook.However, there are some easier topics to write about for an English paper. Topics like 'environmental problems', 'science and health 'technology' all come with low levels of difficulty. Students can then use these topics as stepping stones to more difficult ones, allowing them to build up a good vocabulary base without having to jump through any hoops.When considering the easiest topic to write about for an English paper, it is helpful to keep in mind the age of the student and the kind of subject that they are trying to write about. For example, there are some students wh o are very interested in discussing medicine. While this topic can be easy to write about, it may be harder to determine which topic to use for the rest of the paper. Students who are not interested in this subject may find it hard to figure out what to write about, while others may be better off writing about other subjects.For younger students, the easiest topic to write about for an English paper is science. These students need to learn a lot of concepts relating to this topic, and many of them will want to read the whole chapter in one go. For this reason, it is important that students are given plenty of reading material to help them.The easiest topic to write about for an English paper for older students is technology. These students need to be able to apply new information and ideas, but they do not need to understand every concept or word. These topics can be written easily as essays, while the students can often practice using the technology to further their understanding o f it.One of the reasons why the easiest topic to write about for an English paper is 'technology' is because students tend to have many other things to do outside of class. As such, it is often possible to give students easy reading material on technology. Some students will be able to read the text on their own, while others may require help.Students should also consider whether or not they want to write about a topic that is based on factual or logical concepts. Some students would rather be given a topic that is based on their understanding of the subject. While this type of subject might seem difficult, it is often possible to give students easy reading material on a topic that they are familiar with.An easy topic to write about for an English paper is often one that has a relatively high level of difficulty. In fact, there are many topics that can be easy to write about for an English paper. Students can find topics that are based on their understanding of the topic and also ge t some practice in preparing their own essay.

The Number One Question You Must Ask for Topics for Profile Essay

The Number One Question You Must Ask for Topics for Profile Essay Profile writers must also think of whether readers know about the terminology they wish to use. It is crucial to understand what questions one ought to ask, and in what sequence. You also learn how to analyze and synthesize the information that you have collected. Popular writing services usually provide free samples of their works to acquire new customers. Profiles present an outstanding deal of factual detail about their subject. The following suggestions will work as a guide for you. All your explanations ought to be based on the interview your conducted. Like earlier mentioned in the write-up, acquiring the vital basics and suggestions at hand for the perfect literary work is critical. You shouldn't go for something that's out of the topic. If you're allowed to select a topic yourself, you should select something interesting that you're able to write about. For instance, you can pick a topic for elementary, middle, or higher school. Writing organizations and clubs can turn out to be quite helpful when you must find advice on writing styles, or wish to obtain some writing tips. Some students utilize the very first idea which arrives in their head and work on it, but the outcome isn't profitable. Because of this, most students complain of a feeling of disconnection from poetry. What is Truly Going on with Topics for Profile Essay To acquire the idea of writing a profile essay, you will have to read the works of individuals who have written successful essays. Be conscious of the size it must be and begin writing the narrative essay outline. Inside my experience, descriptive essays are only difficult in regards to deciding just what things to write about. Writing a comprehensive essay about an individual or entity is quite easy as you have all of the vital resources and data available. A distinctive part of profile essays is they're both objective and subjective. A profile is a particular type of research undertaking. Among the exceptional features of profile essays is they can be objective and subjective at the exact moment. The introduction portion of the essay needs to be unique and attention grabber and ought to make readers eager to read further. Thus, to compose a great essay you must brainstorm all thoughts concerning your life experiences. Note the way the introduction is on the subject or the person being interviewed. The essay needs to be built on direct quotations from your subject and factual observations and other informative particulars. Since you may see, writing a profile essay is a quiet interesting and hard job. Writing a profile essay may be hectic activity, but with the most suitable info and preparation, you may actually find it interesting. It gives you the freedom to handpick the subject of your preference. Consequently, it's important knowing how to compose a profile. Since writing a profile essay can seem to be a tedious activity to some, ensuring that you've got the most suitable info, subject and knowing the right means to write will provide you with a simpler experience. That means you should prevent any confusing info or unclear point. So as to write a great profile essay, you will need to get equipped with the ideal tools. Simply speaking, a thesis statement is supposed to provide the reader a succinct idea about what your work is about, and at exactly the same time work as a guideline for you once you're writing, so you keep your arguments in check. If you're on the lookout for help with writing a research paper, you may use a few standard rules to attain success by means of your assignment. The main aim of a thriving essay is to present your readers a whole description of a subject. Possessing an excellent understanding of the way that it's done would make anybody's work very simple and quick.

You Will Need To Learn The Language Of An Informational Essay In Order To Write Your Own

You Will Need To Learn The Language Of An Informational Essay In Order To Write Your OwnIt is necessary to be a savvy writer and you need to make sure that when you are studying a sample example of an informational essay that you are not to take a single word of the sample word for word. You should learn to speak the language of the essay and use it to help with your own essay.You will find that when you do this that the essays that you write become easier to write and therefore easier to complete. There are several different types of essays that you can write but there is something about an informational essay that gives you more flexibility than other types of essays. When you are writing an essay that is based on facts and statistics the scope is quite large and you have to be able to take in a large amount of information.The facts and statistics are the way in which the writers convey the information that they are trying to get across. When you look at samples of these type of es says that are available you will see that they cover many different topics. It is important to understand that some people write informative essays about topics that are outside of their areas of expertise.These topics can be very broad but when you look at the sample essay that you are looking at you will notice that they are written by someone who is a specialist in the specific topic. If you are a home improvement expert, you may not have a problem with writing an informational essay about a specific aspect of home improvements. It is easy to find such examples of informational essays but when you are looking at sample examples of an informational essay that are not directly related to the subject matter of the essay you may have problems.It is not that the information that you are looking at is bad but you have to realize that the information that you are looking at is not generalized information. This means that it will be important to put some thought into the format of the es say. When you use a sample example of an informational essay then you will find that the format of the essay will give you more freedom to express yourself and thus you will have more success when you are writing your own essay.Using a sample example of an informational essay is important because you will learn to speak the language of the essay. The fact that you will not be speaking the same language as the other people who are using the sample essay does not mean that you cannot take something from the essay and apply it to your own essay. It is good to be able to write something and make it work for you and not have to spend time re-writing a term paper.When you are using a sample essay to understand how to write an essay, you will find that you can use the information to your advantage. You will find that when you use the information from the sample essay to your advantage you will have greater success when you are writing your own essay. You should remember that it is the lang uage that you are using that is the key to the success or failure of the essay.Once you have mastered the art of using the language and the grammar of the essay you will have greater success in the writing of your own essay. You will also find that you can include the same idea in other places in your own essay and thus make it a little more difficult to figure out what the original purpose of the essay was. When you are working with a sample example of an informational essay, you will find that you have an easier time when you are writing your own essay.

Music And Censorship Essays - Counterculture Of The 1960s

Music And Censorship In our society today, some musicians and their music drain and plague the moral and spiritual well-being of the people; therefore, censorship offers a necessary action that we must take to keep the world from becoming a land of decadence. The musicians lives are not examples for the children or the adults. The lyrics of many songs are not suitable for anyone. All types of music need some kind of censorship. Censorship makes a person realize that music is good for the heart. Censorship totally makes people act better, and when thinking better, this sustains a better society. The lives of some musicians contain types of anarchy and self-gratification. Once the musicians realize that people want not just their music but them as well, they act as gods, which no one can touch. For example, think of it like a secret dictatorship, and we breathe as a fascist society, which puts fun and feelings above the Lord, above all. Many of the musicians consist of non-religious people who live only for fun and only for themselves. Why then would we, especially as Christians, put our total devotion in them? It exists like wanting to ride with a blind driver rather than one with perfect vision. In addition many of the musicians use drugs and stimulants to satisfy their hunger for themselves and for pure fun. The musicians tend to use drugs massively, to get out of the very real world that they consist so much a part of. Popularity seems pleasing but when one has the affections and total devotion of a mass of people, that person can not handle it because that person does not have Jesus' personality and only He could truly control that much fidelity. One person who truly could not handle the excitement was Jimi Hendrix(Appendix A). Instead of performing as himself and using his talent for good, he used rebellion and used many drugs. On stage, Jimi Hendrix would put hits of acid in his headband. When he perspired, the sweat, containing acid would run down into his eyes and make him "higher than a kite." Most people never actually saw Jimi Hendrix the person, but a blurred vision of him. When Jimi performed on stage at Woodstock(Appendix B and C), a man from the crowd asked him, "Jimi are you high?" He simply replied back to the man, "Thanks man I got mine," causing the crowd to act wild almost as if he had saved someone's life, but ironically he unintentionally destroyed their lives. In addition Bob Dylan(Appendix D and E) also talked about getting stoned in some of his music. The song "Rainy Day Woman #12 and #13," blatantly says that "everybody must get stoned." That tells people to disobey the law and tells people to mangle the temple of God, our bodies by perverting it with drugs and stimulants. Many musicians make a mockery of their fans. The lead singers subsist to do this the most because of the vocal opportunities they have to express their discontent with life and thrust their ideas upon those who hypnotize with the musician's power position, thus, makes the listeners obey their thoughts without fully knowing. The lead singer Billie Jo, for Green Day, says to his fans, " I'm not going to say anything f****** intelligent, I'm just going too swear a whole d*** lot." The Bible tells us that we should let everything that comes out of our mouth praise Him, and swearing for any reason doesn't really praise Him at all and is degrading for us as well. Almost like if he did not swear than we wouldn't like him or understand him. In addition the lead singer for Kiss would spit on his fans. He would get the crowd to spit in a spittoon-type container, and by the end of the concert, he would drink the saliva and then he would use what dwelled left in the spittoon to spit on the crowd. This creates a bad influence on anybody and makes a person believe that it justifies him to do these actions because he dwells on stage, which totally in fact creates wrong, and not right. The band would also wear face paint and look like demons of some sort. This displays a mockery of what God has given us, and it hides their true identities and make them something they are not. They are only human, trying to be a type of some sort of god, not the God. The lyrics of some

The Rise of the Bric Economies Essays

The Rise of the Bric Economies Essays The Rise of the Bric Economies Paper The Rise of the Bric Economies Paper Question 1: BRIC economies – a critical overview Part 1: New emerging markets and BRIC. Over the last decade there have been significant changes to the world economy and the way once traditional Multinational corporations do business. This has been primarily due to the rise of new markets, particularly the BRIC economies. â€Å"The greatest effect of globalization is the shifting of the worlds wealth centers. Former developing countries are rapidly becoming richer through their use of natural resources, labour forces, and industrialization. An essay published by Goldman Sachs identified the core leaders in this category as Brazil, Russia, India, and China, and subsequently coined the term BRICs. Europe soon realized the vital necessity of building bridges with these emerging economic powers. Portugal saw an opportunity to utilize its historic and cultural ties with Brazil to bolster a strategic partnership with the EU. † (Building Bridges to the BRICs, Africa on the Agenda. Foreign Affairs, 00157120, Mar/Apr2008, Vol. 87, Issue 2). New emerging markets like Thailand, the Czech Republic, and Poland along with many others are now a source for potentially attractive investments. CEO, Cordiant Capital Inc. , David. G. Creighton said â€Å"While we have seen many countries develop fairly quickly over the last fifteen years, including the Czech Republic, Poland, Thailand and Mexico, there are a number of others that, for a variety of reasons, are lagging behind. We continue to find attractive opportunities in Russia and Latin America and are now beginning to engage with the next wave of countries in such places as El Salvador, Bulgaria and Kazakhstan. It’s all about finding the right risk/return profile. † (The New Emerging Markets by Benefits Canada, 2007; benefitscanada. com/pdfs/Reports_TheNewEmergingMarkets. pdf;) New emerging markets, especially the BRIC economies, have been on the rise in terms of industrialization and Gross domestic product growth particularly in the service sectors. To further observe the rise of new emerging markets, specifically BRIC economies the table below shows the top 20 economies for the years 1995, 2001, 2003 and 2006: Table : Top 20 Economies Position1995200120032006 USAUSAUSAUSA 2JapanJapanJapanJapan 3GermanyGermanyGermanyGermany 4FranceFranceUKChina 5ItalyUKFranceChina 6UKItalyChinaUK 7BrazilChinaItalyFrance 8CanadaBrazilCanadaItaly 9ChinaCanadaMexicoCanada 10SpainSpainSpainSpain 11MexicoIndiaIndiaBrazil 12RussiaMexicoBrazilRussian Fed 13South KoreaKorea, RepSouth KoreaIndia 14AustraliaNetherlandsNetherlandsKorea Rep. 15NetherlandsAustraliaAustraliaMexico 16IndiaRussian Fed. Russia Australia 17ArgentinaArgentinaSwitzerlandNetherlands 18SwitzerlandSwitzerlandBelgiumTurkey 19BelgiumBelgiumSwedenBelgium 20AustriaSwedenAustriaSweden Based on World Bank development reports, these rankings show the emergence of new markets as well as the growth and development of BRIC economies. In the report titled â€Å"Dreaming with BRIC’s : The path to 2050† (Goldman Sacs, 2003), the assumption is made that in a period of less than 40 years the BRIC economies could be larger than the combined G6 nations in terms of US dollars. Furthermore, the report states that the BRIC countries alone are worth about 15 % of the G6 nations. This alone would indicate the expected levels of growth from emerging markets, specifically Brazil, Russia, India and China. To further understand the emergence of these markets, we must look at the various social and economic factors that transformed these once developing economies to emerging markets with a strong global presence. Prahlad and Lieberthal (The end of corporate imperialism, 1998) postulate that the emerging middle class as an market force has actually led to significant growth in the BRIC countries. A â€Å"product hungry† consumer and a growing purchasing power has transformed once developing countries to emerging global markets. They further go on to say that consumers are rapidly changing their tastes and choices of products. To quote â€Å"†¦Ã¢â‚¬ ¦Indian consumers tried on an average 6. 2 brands of the same packaged good product in one year, compared with 2. 0 of Americans consumers. † Among all the emerging markets, China has always has a strong manufacturing presence globally and is poised to overtake German manufacturing capabilities by the year in the not-so-distant future. Natural resources and labour have naturally been a source of FDI for emerging markets, since China and India alone account for about 33% of the world population. Russia and Brazil, with its natural resources have turned their once developing economies into strong emerging markets. The emergence of these markets as global players have been accounted to factors like increased levels of privatisation due to disinvestments by PSU’s, Technology up gradations, increased levels of skilled labour and liberalization of trade restrictions. In India, for example, had a BPO industry worth about $5. 7 billion in 2005 and showed growth rates of about 44%. (The Evolution of BPO in India, Pricewatehousecoopers, 2005). The emerging market as secure capital investment is a different story altogether. The risks of emerging markets and BRIC countries are quite prominent in the face of investments from more stable, advanced countries. The volatile nature of these markets in terms of economic viability has actually held back a lot of potential FDI over the years. Political instability, weak infrastructural capabilities and currency appreciation for export led economies have been just a few of the challenges faced by these emerging markets. GDP growth in agri – dependent economies fluctuates depending on seasonal factors and as most of the emerging markets are, in fact, still largely dependent upon agriculture; a measure of economic growth would too be dependent on agriculture as a primary source of capital. These are just a few of the risk factors in these emerging markets that account for very cautious investments by MNC’c. Part 2: Challenging Global Expansion Strategy With the trends of growth of new emerging markets, particularly BRIC economies, approaches to strategy of global expansion and marketing by traditional MNC’s have seen major overhauls. In terms to Global Expansion Strategy, a look at the EPRG framework for global marketing would give better insight as to how these markets led to the evolution of global strategy. a)Ethnocentric orientation: Ethnocentric orientation refers to an attitude towards export that the product requires little or no modification for export to foreign markets. The key characteristic with these products is that it looks to its home market as the major point of reference. So how has strategy changed regarding the marketing of these ethnocentric products? With the increasing trend of globalization, there is no room for a purely ethnocentric viewpoint towards exportable products. The assumption that the domestic techniques and staff are superior to the target market is imperialistic and redundant in the complex market of today. This ethnocentric outlook, where overseas operations are regarded are secondary to the home market and where personnel are trained in context to the data gathered in the home market is a good example of â€Å"corporate imperialism† Prahalad Lieberthal (1998), state that the mere cultural sensitivity is not enough. They go on to say that MNC’s need to drop many assumptions regarding the nature of the consumer and the market. The assumption, for instance, that the middle class consumer in these emerging markets are at the same level as those in developed markets is not just imperialistic, but may lead to critical errors in the formulation of strategy. A good example of this ethnocentric outlook leading to a loss of marketability would be Revlon when it introduced its products to China in 1976 and India in 1994. Revlon’s assumptions regarding purchasing power and the target customer led to its status as a high-end product and loss of potential sales. ) Polycentric Orientation : The next stage in the evolution of a global strategy would be a more polycentric approach towards overseas markets. In view of a changing market scenario, MNC’s could no longer afford to have an ethnocentric orientation towards global strategy, so naturally the focus shifted from home to host country. A polycentric orientation is one where subsidiaries of the mother company are established in the target markets where objectives and plans are established by these subsidiaries. Research and strategies are formulated by these subsidiaries for their specific markets. New emerging markets led to companies drastically changing this strategy of subsidiaries because of the need for quick decisions without the constant approval of the head office, to facilitate the need for sharing of knowledge and most importantly to cope with the fierce competition spearheaded in most part, by China. Williamson, (2005), talks about increasing innovative competition in Asia and attributes these changes to 4 major shifts in the competitive environment viz. he demise of asset speculation, the scattering of the â€Å"flying geese† development, the breakdown of national economic â€Å"baronies† and the decay of â€Å"me – too† strategies. ( Journal of Business Strategy; 2005, Vol. 26 Issue 2, p37-43, 7p) This basically meant that by 1997 strategies based on asset accumulation as a driving force of company worth, or those based on position of low – e nd or high end manufacturing were no longer applicable. A polycentric orientation, therefore, would not allow appropriate speed of operation and decision making in these markets. )Regiocentric and Geocentric orientation : With the breakdown of national economic barriers and the decay of me – too strategies, referring to hanger –ons of strategic success, regiocentric and geocentric orientation towards the formulation of global strategy started to form the most logical and profitable outlook. A regiocentric orientation is where the region is viewed as one market and a geocentric orientation is where the world is regarded as a single market. In order to develop an effective strategy, a series of questions that a firm needs to address have been created. Strategies that fit emerging markets, Khanna, Palepu, Sinha, 2005). Key questions are based on: Political and social systems Openness Product Market Labour market Capital Market For example, companies found that the labour market in India had a highly liquid pool of English speaking management whereas in China the market for managers was small and static, Brazil had managers with varying degrees of proficiency of the English language and the same was in Russia. 2. 1) Why the need for strategic change? You are only going to have two kinds of companies in the future: those companies that go global, and those companies that go bankrupt. † (AT President John Zeglis quoted in Garten. J, 2004, Introduction, World View: Global strategies for the new economy). In today’s economic trends of emerging markets and increasingly profitable global business, strategies that were once acceptable are no longer applicable primarily because of the vast differences in the markets now available to the global company. Some of the reasons we have already discussed are: )Ethnic and cultural differences. b)Economic structure. c)Organizational structure. d)Increasing competition. e)Globalization. A good example o f a strategy that works in advanced economies and does not have the same viability in emerging economies are the â€Å"mantras† of core competencies and focussed strategies. (Palepu, Khanna, 1997 : Why Focussed strategies may be wrong for emerging markets). Here, the authors talk about how a focussed strategy may work in a developed economy but may not have the same effect in an emerging one. They speculate that the infrastructural incapability in these economies just would not allow this kind of a strategy to function. They argue that â€Å" †¦highly diversified business groups can be particularly well suited to the institutional context in most developing countries. † Therefore it is quite evident that with the rise of BRIC economies and other emerging markets, a change in strategic trends is essential for the MNC to prosper in the changing global economy. Part 3 – Focus on BRIC: Mittal Steel /Arcelor Mittal If there ever was a success story that placed drew attention to the BRIC economies, Arcelor Mittal would be among the top of them. Mittal steel was formed in 2004 when ISPAT international acquired LNM holdings N. V. – both already controlled by now CEO of Arcelor Mittal Lakhsmi Mittal. By 2005, Mittal steel was ranked among the Global fortune 500 companies and after its merger with Arcelor steel in January 2006, it became the first 100 million tonne plus steel producer. Mittal steel was ranked 99 in the Fortune 500 companies in 2007. (rankings on www. oney. cnn. com and company information from www. mittalsteel. com) Mittal steel has an industrial presence all over the globe – Asia, America, Europe and Africa. A Timeline of Mittal Steel 2005: Acquisition of a stake in Hunan Valin ; ISG Acquisition completed ; Mittal Steel Europe created ; Mittal Steel makes Fortune 500 list of top companies; MDA with Liberian government ; Acquisition of Kryvorizhstal ; MoU with State of Jharkhand, India ; Acquisition of Stelco subsidiaries ; Stake lifted in Mittal Steel Zenica 2004: Acquisition of Polski Huty Stali ; Acquisition of BH Steel ; Acquisition of Macedonian facilities from Balkan Steel ; Creation of Mittal Steel and proposed acquisition of International Steel ; 2003Acquisition of Nova Hut 2002 Business assistance agreement signed with Iscor 2001Acquisition of ALFASID ; Acquisition of Sidex 1999Acquisition of Unimetal 1998Acquisition of Inland Steel Company 1997Ispat International NV goes public 1995Acquisition of Hamburger Stahlwerke ; Ispat International Ltd. and Ispat Shipping formed ; Acquisition of Karmet 1994Acquisition of Sidbec-Dosco 992Acquisition of Sibalsa 1989Acquisition of Iron Steel Company of Trinidad Tobago 3. 1) The Strategy From observing the activities of this MNC on the above timeline, it is quite clear that the major Global expansion strategy for Mittal steel has been one of acquisitions. To understand this acquisition – based strategy better, it is imperative to analyse the pre – acquisition negotiation and post â €“ acquisition activities of the acquiring company. It could be safely said that no acquisition process is completely the same compared to another but there are some commonalities. For Mittal Steel, the strategic management of their mergers and acquisitions in the pre and post acquisition stages have led to their phenomenal success on the global scale. So what could be called their process of acquisition? And what would be the strategic advantages of this so called â€Å"acquisition spree† which has taken place over the last 8 years. An example of the activities Mittal Steel would usually follow can be seen by a look at the acquisition of Mexicana Ispat in 1991 . In the pre – acquisition stage, a team of experts were divided into sub –units and sent out to analyse the plant and its operations. Reports of the plants performance in areas of finance, marketing, management etc were analysed and based on the reports of these experts, bids were made by ISPAT. In the post acquisition stage had the following characteristics a)Stopping losses and cutting costs b)Minimal lay –offs c)Implementation of quality control and improvisation programs i)Daily meetings and reports ii)ISO methods iii)Stretch goals iv)Knowledge integration programme It is evident that Mittal Steel, even in that point of time, had a larger strategic plan which integrated this acquisition â€Å"spree†. Cohan and Rangan ( 2006 ) speculate that this strategy is the best for the avoidance of head – to – head competition with incumbent firms. If firms can operate in markets that the already established competition ignores, significant scale of operations can be achieved with minimal competitive retaliation. Once the competitions attention is attracted, the newer firm will be in a position to defend its stance. (Seven Strategy lessons from top entrepreneurs). This strategy has paid off for Mittal steel and has been demonstrated in the Arcelor takeover bid struggle. To answer the question of why it has succeeded where other firms have not, is a combination of both its acquisition process and its innovative market entry strategy. Mittal steel has clearly shown the Global market that emerging markets do have the industrial prowess to finance a takeover in even the most advanced of economies. To conclude, the age of â€Å"corporate imperialism† is now behind us – innovative strategy for a global market being slowly dominated by emerging markets, especially the BRIC economies, must be taken very seriously if a firm is to survive. word count 2683) Sources: EBSCO Google scholar References: Cohan . P , Rangan U. S. 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