Red Badge Of Courage Essays (772 words) - The Red Badge Of Courage

Red Badge of Courage The Red Badge of Courage by Stephen Crane follows the impacts of war on a Union officer, Henry Fleming, from his fantasies about soldiering, to his real selection, and through a few skirmishes of the Civil War. Henry Fleming was not content with his exhausting life on the ranch. He needed to turn into a legend in war and have young ladies adoring him for his great accomplishments in fight. He realized his mom might not want to see him do battle, however it was his choice to make. He longed for the leaving skirmishes of war and the adventure of taking on heavenly conflicts. He would not like to remain on the ranch with nothing to do, so he made the official conclusion to enroll. In the wake of enrolling he gets himself simply lounging around with nothing to do. He figures out how to warm up to two different officers, John wilson and Jim Conklin. Wilson was as left about doing battle as Henry, while Jim was certain about the achievement of the new regiment. Henry began to acknowledge following a couple of long periods of walking, that their regiment was simply meandering randomly, going around and around, similar to a tremendous blue exhibition. They continued walking on without reason, heading, or battling. Through time Henry began to consider the fights in an alternate manner, an all the more close and experienced way, he begun to become apprehensive that he may run from fight when obligation calls. He felt like a servent doing whatever his bosses let him know. At the point when the regement at long last finds a fight occurring, Jim gives Henry a little parcel in a yellow envelope, revealing to Henry that this will be his first and last fight. The regiment figured out how to hold off the renegades for the primary charge, however then the radicals returned like machines of steel with re-requirements, driving the regement back. One man began to escape, at that point one more and again, still. Henry was terrified, confounded, and in a daze as he saw his powers depleating. He at last kicked up and off running like a notorious chicken, who has lost the bearing of security. In the wake of fleeing, Henry began defending his conduct in the wake of running from the adversary. From the outset he fells he was an inept weakling for running, at that point he believes he was simply sparing himself for afterward. he felt nature didn't need him to pass on, eventhough his side is losing. He accepts he was insightful for running and expectations he will kick the bucket in fight only for show disdain toward. A similar time Henry met Jim, he additionally met a worn out man. In the following charge, Henry and the worn out man see Jim die in some horrible, nightmarish way a moderate, and excruciating demise. After Jim's demise, and a little talking, Henry,though not understanding it, disregards the worn out man on the combat zone, harming inside, and hazardous to himself. In the charge ahead, Henry begins asking the warriors for what reason they are running. He got a comrad by the arm and asked the man why- why- not relinquishing the keeps an eye on arm, so the man hit Henry over the head with the handle of his rifle, giving Henry his first Red Badge of Fearlessness. Shocked, Henry bumbles around the front line attempting to remain on his feet, until a chipper man comes around and encourages Henry to return to his regement. At his regiment he goes up against wilson and has his injury on his head took care of. After a brief rest he again gets once again into fight. After the regiment lost that fight, the officers had the regiment walking once more. Henry felt the officers were a ton of goof balls for making them retreat as opposed to going up against the adversary. Henry starts to feel that, he and Wilson, are going to pass on, yet goes to fight in any case. In fight, Henry started to rage with rage and depletion. He had a wild detest for the steady adversary. He was most certainly not going to be baited of his life, similar to a cat pursued by young men. He felt that he and his colleagues were being provoked and scorned from genuine feelings that they were poor and diminutive. In one more fight, whenever Henry and Wilson get an opportunity to convey their banner, they battle about who will hold the banner. Red Badge Of Courage Essays (772 words) - The Red Badge Of Courage Red Badge of Courage The Red Badge of Courage by Stephen Crane follows the impacts of war on a Union trooper, Henry Fleming, from his fantasies about soldiering, to his genuine selection, and through a few skirmishes of the Civil War. Henry Fleming was not content with his exhausting life on the homestead. He needed to turn into a saint in war and have young ladies adoring him for his superb accomplishments in fight. He realized his mom might not want to see him do battle, however it was his choice to make. He longed for the leaving skirmishes of war and the adventure of facing superb conflicts. He would not like to remain on the ranch with nothing to do, so he made the ultimate conclusion to enroll. In the wake of enrolling he gets himself simply lounging around with nothing to do. He figures out how to warm up to two different fighters, John wilson and Jim Conklin. Wilson was as left about doing battle as Henry, while Jim was sure about the achievement of the new regiment. Henry began to acknowledge following a couple of long stretches of walking, that their regiment was simply meandering erratically, going around and around, similar to a huge blue exhibit. They continued walking on without reason, bearing, or battling. Through time Henry began to consider the fights in an alternate manner, an all the more close and experienced way, he begun to become apprehensive that he may run from fight when obligation calls. He felt like a servent doing whatever his bosses let him know. At the point when the regement at long last finds a fight occurring, Jim gives Henry a little bundle in a yellow envelope, revealing to Henry that this will be his first and last fight. The regiment figured out how to hold off the renegades for the principal charge, however then the radicals returned like machines of steel with re-implementations, driving the regement back. One man began to escape, at that point one more and again, still. Henry was frightened, befuddled, and in a stupor as he saw his powers depleating. He at long last kicked up and off running like a famous chicken, who has lost the course of wellbeing. Subsequent to fleeing, Henry began supporting his conduct subsequent to running from the adversary. From the outset he fells he was an idiotic defeatist for running, at that point he believes he was simply sparing himself for afterward. he felt nature didn't need him to kick the bucket, eventhough his side is losing. He accepts he was canny for running and expectations he will kick the bucket in fight only for demonstrate hatred for. A similar time Henry met Jim, he likewise met a worn out man. In the following charge, Henry and the worn out man see Jim die in some horrible, nightmarish way a moderate, and excruciating passing. After Jim's passing, and a little talking, Henry,though not understanding it, disregards the worn out man on the war zone, harming inside, and risky to himself. In the charge ahead, Henry begins asking the warriors for what good reason they are running. He got a comrad by the arm and asked the man why- why- not relinquishing the keeps an eye on arm, so the man hit Henry over the head with the knob of his rifle, giving Henry his first Red Badge of Fortitude. Shocked, Henry falters around the combat zone attempting to remain on his feet, until a happy man comes around and encourages Henry to return to his regement. At his regiment he faces wilson and has his injury on his head took care of. After a brief rest he again gets again into fight. After the regiment lost that fight, the commanders had the regiment walking once more. Henry felt the commanders were a great deal of dimwits for making them retreat as opposed to going up against the foe. Henry starts to feel that, he and Wilson, are going to kick the bucket, however goes to fight in any case. In fight, Henry started to rage with rage and depletion. He had a wild detest for the steady adversary. He was most certainly not going to be bullied of his life, similar to a cat pursued by young men. He felt that he and his mates were being insulted and ridiculed from true feelings that they were poor and tiny. In one more fight, whenever Henry and Wilson get an opportunity to convey their banner, they battle about who will hold the banner.

How Do Both Wilfred Owen and Siegfried Sassoon Show Their Dislike Toward the War in Their Poems free essay sample

Their stunning, practical War verse on the revulsions of the channel and gas fighting finished in them being regulated for their convictions. Right off the bat, Siegfried Sassoon will be dissected in Base Details and investigate how he misuses the War in his sonnet. Base subtleties depends on Sassoon illuminating the perusers of reality with regards to the Majors in the War and what they were truly similar to. Sassoon incorporates himself into the sonnet to depict to the peruser how on the off chance that he were a Major, how his disposition would vary, ‘If I were furious, and uncovered, and shy of breath. ’ This starting line unequivocally shows to the crowd Sassoon himself is envisioning he was one of the Majors during the war. Cunningly, Sassoon is here disparaging the Majors by simply calling them old, overweight and that they were menaces. Straight away the peruser feels a feeling of Sassoon is going to come clean in this sonnet and stand up for what he puts stock in. We will compose a custom paper test on How Do Both Wilfred Owen and Siegfried Sassoon Show Their Dislike Toward the War in Their Poems? or on the other hand any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The structure of the sonnet is exceptionally basic and set out in two verses with ten syllables on each line. This gives the cadence of the sonnet to stream and represent a nursery rhyme. Language in sonnets shows to the peruser the tone and authority of the sonnet. Sassoon, all through the entire sonnet utilizes untainted language that speaks to a nursery rhyme rhythm. ‘†¦Last scrap’ this citation demonstrates how the majors think about the War to be a game and that it significance to them. Sassoon intentionally utilizes the reference of ‘scrap’ to present to the peruser that the war was inane to the Majors and how they didn't see the genuine frightfulness the War caused. By utilizing the similar sounding word usage of ‘puffy petulant’ it shows the plosives utilized of the ‘P’ sound; which unequivocally demonstrates the inconvenience in Sassoon’s tone toward the Majors and more extensive, to the War. To proceed, Sassoon utilizes plosives and honest language to depict the Majors in a shocking light, as we the crowd know and see how appalling the war was. There are numerous expressive gadgets that demonstrate of Sassoon’s disdain toward the War. ‘†¦And speed sad legends up the line to death’ this incredible citation comprises of a paradoxical expression. It shows how the Majors would rapidly surge the legends over the channel; just for them to be murdered. Similar sounding word usage gives the steady recognition of specific words; ‘†¦Guzzling and Gulping in the best hotel’ Sassoon clarifies here how during the officers being executed and genuinely harmed by the War, the Majors would be impolitely eating and savoring an awful way. The outflow of ‘gulping’ could likewise be a double importance of swallowing their blame away and concealing their regret through the figurative condition of having fun. All through the entire sonnet, Sassoon utilizes profound implications behind his sonnets to depict his aversion toward the War, ‘I’d live with red majors at the Base’ The utilization of red speaks to the British soldiers uniform of what Sassoon would be wearing, yet additionally the significant importance of blood and demise. On the other hand, the title itself gives the peruser a sign of the sonnet, ‘Base Details’ is a double importance of Army subtleties and furthermore ‘Base’ represents the essential and gruff truth Sassoon is going to enlighten the peruser concerning the war. Base Details has solid symbolism all through. The most grounded symbolism is of bare, old Majors in the best lodging voraciously eating while the fighters are biting the dust for their nation. ‘Poor youthful chap I’d say’ This line speaks to the indignation Sassoon felt toward the War by choosing ‘Young’ as it shows how youthful the officers were during the War. Siegfried Sassoon is attempting to accomplish sway on the peruser. He clarifies all the genuine repulsions of the War and is gruff and too the point about it in his Poem. He sees the war for what is truly is and portrays the Majors to be unaware and oblivious toward the War. The Majors consider the To be as a game with ‘scrap’ ‘youth’ and ‘toddle’ being as often as possible utilized by Sassoon. Sassoon continually shows his abhorrence toward the War, through the Majors. Wilfred Owen presents his aversion toward the War in an unexpected manner in comparison to Sassoon, in his sonnet, Dulce et Decorum Est. This sonnet is a personal sonnet dependent on Owen’s own understanding of the War. He resurrects an eerie memory of a gas assault that executed one of the officers and distressingly remembers the memory through his sonnet. In contrast to Base Details, Dulce et Decorum Est. as three huge refrains with sound similarity that gives the inward musicality of fighters walking. Alternately, like Sassoon, Owen presents his aversion of the War through language. Owen utilizes Pathos; which causes the peruser to feel sympathy and regret to what he is stating. The consistent plosive sounds speak to likewise all through th e sonnet, ‘Knock Kneed†¦ Hacking, cursed’ it gives the peruser again a similiarity of a brutal and exhausted tone of Owens disdain toward the War. The strained is in past as it is a past encounter, be that as it may, toward the beginning of the subsequent refrain, ‘Gas! Gas! the exchange changes here to current state. Owen made this move in tense as he has strikingly ventured into his memory and the particular occasion of animation is clear in his contemplations. In the main verse, Owen lays the right foundation and repudiates the peruser into accepting the soldiers were coming back from fight, ‘Bent twofold like old poor people under sacks’ this starting line is an analogy and emphatically shows the tiredness of the warriors and their symbolism of looking like homeless people. ‘Drunk with fatigue’ this splendid line shows how depleted the officers were they were flushed with it. The subsequent verse is dynamic and contains a great deal of elaborate gadgets that show Owen’s scorn toward the War. ‘As under a green ocean, I saw him drowning’ this allegory shows Owen’s horrible visual of the trooper being ‘drowned’ in a ‘sea’ of a gas assault. It gives the acknowledgment of how horrendous Owen’s past experience is to the peruser and his aversion of the War. Like Base Details, Owen and Sassoon both present themselves in the sonnet. ‘In everything I could ever want before my defenseless sight, he plunges at me guttering, chocking, suffocating. This focal picture of Owen’s dream shows that the War has left a scar upon him and the enchantment 3 of ‘guttering , gagging, drowning’ make the plosives and sound similarity of the withering officers despair. Owen tends to the peruser in the third verse ‘if you also could pace’ Owen is going up against the peruser as though co nsoling himself that there was noticing he could do to spare the officer advertisement that it additionally makes the peruser think about his circumstance for themselves. ‘His hanging face like a villain tired of sin’ this comparison is likewise a ground-breaking devastation. It plainly shows Owen’s abhorrence of the War as he looks at the perishing fighter tired of the War like a fallen angel tired of transgression. It seems useless yet it is reality. The two artists emphatically attempt to get their point and message over that there was no requirement for the war and that lives could have been spared. The two sonnets close with ground-breaking messages which cause the peruser to feel sympathy and an assortment of feelings. Sassoon presents his aversion toward the War by completion with ‘I’d wander securely home and dieâ€in bed. ’ This leaves the peruser feeling irate and bewildered how the officers bite the dust in distress however the Majors fail to help their nation. Likewise Owen utilizes, ‘The old Lie: Dulce et etiquette est. Expert patria mori. ’ This varies from the title as the title is unexpected while toward the finish of the sonnet Owen tells the peruser it is every one of the a falsehood and he isn't energetic of his nation. This shows his total abhorrence of the war. The two endings make various effects on the peruser and both show the aversion the writers looked toward the War. All in all, Siegfried Sassoon and Wilfred Owen present their aversion of the War in their sonnets. The solid utilization of language speaks to the mockery and outrage they feel toward the War, which leaves a stun factor on the peruser which they will recollect.

Different types of Mergers and Acquisitions (MA)

Different types of Mergers and Acquisitions (MA) NATURE AND TYPES OF MAMergers vs. AcquisitionsA merger takes place when two companies combine together as equals to form an entirely new company. Mergers are rare, since most often companies are acquired by other companies, and it is more of absorption of operation of the target company. The term merger is more often used to show deference  to employees and former owners when another company is taken over. Mergers and acquisition are a means to a long-term business strategy. New alliances, mergers or takeovers are usually based on company vision and mission statements, and they have to truly reflect company corporate strategy in terms of what it wants to achieve with the strategic move in the industry. The process of acquisition or a merger calls for a disciplined approach by the decision makers at the company. Three important considerations should be taken into account:Company must be willing to take risk, and make investment early-on to benefit fully from the merger, competitors an d the industry takes heed and start to merger or acquirer themselves.In order to reduce and diversify risk, multiple bets must be made, since some of the initiatives will fail, while some will prove fruitful.The management of the acquiring firm must learn to be resilient, patient and able to emulate change owing to ever-changing business dynamics in the industry.Horizontal MergersHorizontal mergers happen when a company merges or takes over another company that offers the same or similar product lines and services to the final consumers, which means that it is in the same industry and at the same stage of production. Companies, in this case, are usually direct competitors. For example, if a company producing cell phones merges with another company in the industry that produces cell phones, this would be termed as horizontal merger. The benefit of this kind of merger is that it eliminates competition, which helps the company to increase its market share, revenues and profits. Moreove r, it also offers economies of scale due to increase in size as average cost decline due to higher production volume. These kinds of merger also encourage cost efficiency, since redundant and wasteful activities are removed from the operations i.e. various administrative departments or departments suchs as advertising, purchasing and marketing.Vertical MergersA vertical merger is done with an aim to combine two companies that are in the same value chain of producing the same good and service, but the only difference is the stage of production at which they are operating. For example, if a clothing store takes over a textile factory, this would be termed as vertical merger, since the industry is same, i.e. clothing, but the stage of production is different: one firm is works in territory sector, while the other works in secondary sector. These kinds of merger are usually undertaken to secure supply of essential goods, and avoid disruption in supply, since in the case of our example, the clothing store would be rest assured that clothes will be provided by the textile factory. It is also done to restrict supply to competitors, hence a greater market share, revenues and profits. Vertical mergers also offer cost saving and a higher margin of profit, since manufacturer’s share is eliminated.Concentric MergersConcentric mergers take place between firms that serve the same customers in a particular industry, but they don’t offer the same products and services. Their products may be complements, product which go together, but technically not the same products. For example, if a company that produces DVDs mergers with a company that produces DVD players, this would be termed as concentric merger, since DVD players and DVDs are complements products, which are usually purchased together. These are usually undertaken to facilitate consumers, since it would be easier to sell these products together. Also, this would help the company diversify, hence higher profits. Sel ling one of the products will also encourage the sale of the other, hence more revenues for the company if it manages to increase the sale of one of its product. This would enable business to offer one-stop shopping, and therefore, convenience for consumers. The two companies in this case are associated in some way or the other. Usually they have the production process, business markets or the basic technology in common. It also includes extension of certain product lines. These kinds of mergers offer opportunities for businesses to venture into other areas of the industry reduce risk and provide access to resources and markets unavailable previously.Conglomerate MergerWhen two companies that operates in completely different industry, regardless of the stage of production, a merger between both companies is known as conglomerate merger. This is usually done to diversify into other industries, which helps reduce risks.REASONS BEHIND EACH TYPE OF MAThere are various reasons as to why a company might to decide to merge or acquire another company, although there has to be a strategic reasoning or logic behind the merger. All the successful mergers and acquisitions have a specific, well thought-out logic behind the strategic move. Mergers and acquisitions usually create value for the company in different ways, some of which are listed below:Improve the company’s performanceThis involves improving the performance of the target company, as well as the company itself. It is one of the most important reasons of value-creating strategies of MA. If another company is taken over, its performance can be radically improves, due to economies of scale. Also, the two companies combined would have a greater impact in the market as they are more likely to capture a greater market share, hence higher revenue and profits. Operating-profit margins can be significantly improved under the new management if wastage and redundancies are removed from the operations.Remove Excess capac ityIn many cases, as industries grow, there comes a point of maturity, which leads to excess capacity in the industry. As more and more companies enter the industries, the supply continues to increase, which brings the prices considerably down. Higher production from existing companies and entry of new companies in the industry disrupts the balance as supply increases more than demand, which lead to a fall in price. In order to correct this, companies merge with or acquire other companies in the industry, hence getting rid of excess capacity in the industry. Factories and plants can be shutdown, since it is no longer profitable to sell at that low a prices. Usually least productive plants or factories are retired in order to bring the balance back to the industry. Reducing excess capacity has a lot of benefits as it extends less tangible forms of capacity in the industry. It makes companies rethink their strategy, and nudges them to work towards improving quality rather than quantit y.Accelerate growthMergers and acquisitions are often undertaken to increase the market share. If competitor company is taken over, its share of sales is also absorbed. As the result, the acquirer gets higher sales, revenues and consequently higher profits. Some industries have a mix of very loyal customers, which means that it is very difficult to attract customers from competition by other means, as the industry is highly competitive and consumers are disinclined to make the switch. In such circumstances, merger or acquisition are highly beneficial, since they provide an opportunity to drastically increase market share. It also allows economies of scale, as per unit cost decrease due to higher volume. Smaller players in the market are sometimes taken over to penetrate the market further, where big companies fail to make an impact. Controlling smaller firms in the industry can greatly accelerate sales of those smaller companies’ products and services, since a big name is now atta ched to them. The acquirer also brings in its expertise and experience to bring efficiency to the operations of the target company. The combined company also benefit from exposure to various segments of the industry, which were previously unknown to the acquirer. The new combined company could help introduce new products tailored for the unchartered markets, hence finding new consumers for the same products and services.Acquire skills and technologyCompanies often acquire or merge with other companies in hopes to acquire skills and/or technology of the target company. Some companies control certain technologies exclusively, and it is too costly to develop these technologies from scratch. This means that it is easier to take over a company with the desired technology. A merger / an acquisition provides an opportunity for both companies to combine their technological progress and generate greater value from the sharing of knowledge and technology. These kinds of merger usually lead to innovation and entirely new products and services, hence are beneficial not only to the companies themselves, but to the industry as well. Same goes for skills, which are in certain cases exclusive, and can only be sought out, if the said company is taken over.Roll-up strategiesSome firms are too small in the market and are highly fragmented, which means they experience higher costs, and it is not feasible for them to keep up operations because there are no economies of scale due to a very small volume. An acquisition is such case is more common and can be hugely beneficial to the target company, as it could keep on operating only with an element of economies of scale. It would also help an acquirer, since it would be able to penetrate smaller fractions of the market, as smaller companies have access to these markets. Hence this kind of merger creates value for both companies, and promises greater efficiency in the operational activities. Advertising campaigns can be coordinated to gether in order to increase revenues and save on costs.Encourage competitive behaviorMany companies decide to take over other companies in an attempt to improve the overall competitive behavior in the industry. This is done by eliminating price competition, which leads to improvement in rate of internet return of the industry. If the competition is kept at bay, and new entrants are not allowed, firms dont have to compromise on quality as price is no longer a competing factor. Smaller businesses can only gain share through offering at lower prices, but price competition reduces overall profits for the industry. In order to restore the balance, and invest all effort an energy on quantity, mergers and takeovers are initiated to improve the overall competitive environment in the industry.LEGAL TERMINOLOGY Mergers and acquisition can be categorized according to the nature of merger. Most mergers are simply done when one firm takeover another firm, but there are different strategic reasons behind this decision. In the same way, legal terminology also differs from merger to merger, hence it is important to differentiate and understand the subtle differences. © cleverism.comIn this article we will look at 1) nature of MA and different types of MA, 2) reasons behind each type of MA, and 3) legal terminology.NATURE AND TYPES OF MAMergers vs. AcquisitionsA merger takes place when two companies combine together as equals to form an entirely new company. Mergers are rare, since most often companies are acquired by other companies, and it is more of absorption of operation of the target company. The term merger is more often used to show deference  to employees and former owners when another company is taken over. Mergers and acquisition are a means to a long-term business strategy. New alliances, mergers or takeovers are usually based on company vision and mission statements, and they have to truly reflect company corporate strategy in terms of what it wants to achieve with the strategic move in the industry. The process of acquisition or a merger calls for a disciplined approach by the decision makers at the company. Three important consider ations should be taken into account:Company must be willing to take risk, and make investment early-on to benefit fully from the merger, competitors and the industry takes heed and start to merger or acquirer themselves.In order to reduce and diversify risk, multiple bets must be made, since some of the initiatives will fail, while some will prove fruitful.The management of the acquiring firm must learn to be resilient, patient and able to emulate change owing to ever-changing business dynamics in the industry.Horizontal MergersHorizontal mergers happen when a company merges or takes over another company that offers the same or similar product lines and services to the final consumers, which means that it is in the same industry and at the same stage of production. Companies, in this case, are usually direct competitors. For example, if a company producing cell phones merges with another company in the industry that produces cell phones, this would be termed as horizontal merger. Th e benefit of this kind of merger is that it eliminates competition, which helps the company to increase its market share, revenues and profits. Moreover, it also offers economies of scale due to increase in size as average cost decline due to higher production volume. These kinds of merger also encourage cost efficiency, since redundant and wasteful activities are removed from the operations i.e. various administrative departments or departments suchs as advertising, purchasing and marketing.Vertical MergersA vertical merger is done with an aim to combine two companies that are in the same value chain of producing the same good and service, but the only difference is the stage of production at which they are operating. For example, if a clothing store takes over a textile factory, this would be termed as vertical merger, since the industry is same, i.e. clothing, but the stage of production is different: one firm is works in territory sector, while the other works in secondary secto r. These kinds of merger are usually undertaken to secure supply of essential goods, and avoid disruption in supply, since in the case of our example, the clothing store would be rest assured that clothes will be provided by the textile factory. It is also done to restrict supply to competitors, hence a greater market share, revenues and profits. Vertical mergers also offer cost saving and a higher margin of profit, since manufacturer’s share is eliminated.Concentric MergersConcentric mergers take place between firms that serve the same customers in a particular industry, but they don’t offer the same products and services. Their products may be complements, product which go together, but technically not the same products. For example, if a company that produces DVDs mergers with a company that produces DVD players, this would be termed as concentric merger, since DVD players and DVDs are complements products, which are usually purchased together. These are usually undertaken to facilitate consumers, since it would be easier to sell these products together. Also, this would help the company diversify, hence higher profits. Selling one of the products will also encourage the sale of the other, hence more revenues for the company if it manages to increase the sale of one of its product. This would enable business to offer one-stop shopping, and therefore, convenience for consumers. The two companies in this case are associated in some way or the other. Usually they have the production process, business markets or the basic technology in common. It also includes extension of certain product lines. These kinds of mergers offer opportunities for businesses to venture into other areas of the industry reduce risk and provide access to resources and markets unavailable previously.Conglomerate MergerWhen two companies that operates in completely different industry, regardless of the stage of production, a merger between both companies is known as conglomerate merge r. This is usually done to diversify into other industries, which helps reduce risks.REASONS BEHIND EACH TYPE OF MAThere are various reasons as to why a company might to decide to merge or acquire another company, although there has to be a strategic reasoning or logic behind the merger. All the successful mergers and acquisitions have a specific, well thought-out logic behind the strategic move. Mergers and acquisitions usually create value for the company in different ways, some of which are listed below:Improve the company’s performanceThis involves improving the performance of the target company, as well as the company itself. It is one of the most important reasons of value-creating strategies of MA. If another company is taken over, its performance can be radically improves, due to economies of scale. Also, the two companies combined would have a greater impact in the market as they are more likely to capture a greater market share, hence higher revenue and profits. Operatin g-profit margins can be significantly improved under the new management if wastage and redundancies are removed from the operations.Remove Excess capacityIn many cases, as industries grow, there comes a point of maturity, which leads to excess capacity in the industry. As more and more companies enter the industries, the supply continues to increase, which brings the prices considerably down. Higher production from existing companies and entry of new companies in the industry disrupts the balance as supply increases more than demand, which lead to a fall in price. In order to correct this, companies merge with or acquire other companies in the industry, hence getting rid of excess capacity in the industry. Factories and plants can be shutdown, since it is no longer profitable to sell at that low a prices. Usually least productive plants or factories are retired in order to bring the balance back to the industry. Reducing excess capacity has a lot of benefits as it extends less tangi ble forms of capacity in the industry. It makes companies rethink their strategy, and nudges them to work towards improving quality rather than quantity.Accelerate growthMergers and acquisitions are often undertaken to increase the market share. If competitor company is taken over, its share of sales is also absorbed. As the result, the acquirer gets higher sales, revenues and consequently higher profits. Some industries have a mix of very loyal customers, which means that it is very difficult to attract customers from competition by other means, as the industry is highly competitive and consumers are disinclined to make the switch. In such circumstances, merger or acquisition are highly beneficial, since they provide an opportunity to drastically increase market share. It also allows economies of scale, as per unit cost decrease due to higher volume. Smaller players in the market are sometimes taken over to penetrate the market further, where big companies fail to make an impact. C ontrolling smaller firms in the industry can greatly accelerate sales of those smaller companies’ products and services, since a big name is now attached to them. The acquirer also brings in its expertise and experience to bring efficiency to the operations of the target company. The combined company also benefit from exposure to various segments of the industry, which were previously unknown to the acquirer. The new combined company could help introduce new products tailored for the unchartered markets, hence finding new consumers for the same products and services.Acquire skills and technologyCompanies often acquire or merge with other companies in hopes to acquire skills and/or technology of the target company. Some companies control certain technologies exclusively, and it is too costly to develop these technologies from scratch. This means that it is easier to take over a company with the desired technology. A merger / an acquisition provides an opportunity for both companies to combine their technological progress and generate greater value from the sharing of knowledge and technology. These kinds of merger usually lead to innovation and entirely new products and services, hence are beneficial not only to the companies themselves, but to the industry as well. Same goes for skills, which are in certain cases exclusive, and can only be sought out, if the said company is taken over.Roll-up strategiesSome firms are too small in the market and are highly fragmented, which means they experience higher costs, and it is not feasible for them to keep up operations because there are no economies of scale due to a very small volume. An acquisition is such case is more common and can be hugely beneficial to the target company, as it could keep on operating only with an element of economies of scale. It would also help an acquirer, since it would be able to penetrate smaller fractions of the market, as smaller companies have access to these markets. Hence this kind of merger creates value for both companies, and promises greater efficiency in the operational activities. Advertising campaigns can be coordinated together in order to increase revenues and save on costs.Encourage competitive behaviorMany companies decide to take over other companies in an attempt to improve the overall competitive behavior in the industry. This is done by eliminating price competition, which leads to improvement in rate of internet return of the industry. If the competition is kept at bay, and new entrants are not allowed, firms dont have to compromise on quality as price is no longer a competing factor. Smaller businesses can only gain share through offering at lower prices, but price competition reduces overall profits for the industry. In order to restore the balance, and invest all effort an energy on quantity, mergers and takeovers are initiated to improve the overall competitive environment in the industry.LEGAL TERMINOLOGYMergers and acquisitions are highl y complex, and they most often require authorization from central government organization like competition commissions. There are various legal terminologies used when companies decide to merge as listed below:Sale of Majority of AssetsIn a merger / acquisition of one by another company, one company buys out the majority of assets of the other company. The control is transferred to the acquirer after approval of majority of shareholders of the target company. The acquirer usually only takeover liabilities that are attached to the purchased assets, which means that other liabilities are retained by the target company and paid off by them through their own means. Acquirer may, at times, decides to take up liabilities too. Shareholders have the same rights after the merger, since they are entitles to a divided, which is usually higher after the merger.Stock for AssetsIn this type of transaction, one entity buys outs the other one for a certain number of shares. The target company disso lves, passing all its assets to the acquirer. The control is established after approval from acquirer Company’s management. For the target company, vote of approval from majority shareholders is required for the dissolution. All the liabilities attached to the assets of Target Company are passed on to the acquirer company, while all other liabilities are retained by the target company unless acquirer volunteers to take them on as well. Shareholders after the merger are likely to receive a higher dividend.Stock for StockStock for stock transaction involves two companies, where one entity buys shares in another company from its shareholders. The target’s company’s assets are passed on to the acquirer, while the target company is run as a subsidiary of the acquirer. A new stock has to be created for this kind of merger, which means that the majority of the acquirer company’s shareholders are required to approval the merger. The shareholders of the target company are able to ind ividually decide whether they want to participate or not. The merger entails limited liabilities for the acquirer in terms of target’s company liabilities. If shareholders decide not to sell their shares, they might be frozen out.Merger/ConsolidationThis kind of transaction requires the presence of two companies. One company purchased the other, or alternatively both dissolve and become a new company. In this case, both companies require approval from majority of shareholders. The company or the acquirer takes up all rights and all liabilities, some of which are unknown to both corporations. Shareholders retain the right to receive dividends, in addition to retaining dissenter’s appraisal rights. This is the most common sort of merger, which basically means that one company is absorbed into the other one. Assets are taken over, while liabilities are cleared at the time of the merger or takeover the acquirer.DissolutionDissolution involves only one corporation, since the company is being dissolved. If the company wants to dissolve voluntarily, it needs the majority vote by shareholders in addition to filing with the state. At times, courts order involuntary dissolution in certain cases such as a deadlock situation. The control is usually held by majority vote by shareholders. In the case of dissolution, all liabilities must be cleared, although any future liability is absolved. Dissolution usually means that the company does not exist anymore, which means its operations are wrapped up during the process dissolution.Freeze-OutIn this case, the majority shareholders attempt to buyout the shares of the minority of shareholder. Only one company is involved, and control is defined by the majority through board approval. The liabilities in this case remain with the company as there is no other party involved. This is mostly done to reaffirm control by the majority shareholders over the operations of the company, since they face no obstacles once the deal goes thr ough.Tender OfferThis merger is similar to stock for stock, the only difference being the shareholders are offered money in exchange for their shares, after which the target company is dissolved, merged or run as a subsidiary. Management approval is needed since the acquirer usually borrows to finance the merger. While individual shareholders of Target Company may sell at their will, although a controlling percentage of target company’s shared is required for this mergers. After the purchase of shares, the acquirer has limited liability in terms of target’s company financial obligations. After the merger, shareholders can expect a higher dividend, while shareholders of target have no right, since they are no hold shares.Triangular MergerAs the name suggest, this merger involves three companies. The first step involves the acquirer company forming a subsidiary, whose only assets are shares of the parent company. The newly formed subsidiary then does a stock for assets or stock fo r stock as explained above with the target company. Consequently, the target company mergers or completely dissolves.