Post-transaction brand and model line-up integration in the automotive industry: Case studies of European companies as target of acquisitions by Chinese and Indian multinational corporations

Corporations practice company acquisitions in order to create shareholder’s value. During the last few decades, the companies in emerging markets have become active in the acquisition business. During the last decade, large and significant acquisitions have occurred especially in automotive industry. While domestic markets have become too competitive and companies are lacking required capabilities, they seek possibilities to expand into Western markets by attaining valuable assets through acquisitions of developed country corporations. This study discusses the issues and characteristics of these acquisitions through case studies. The purpose of this study was to identify the acquisition motives and strategies for post-transaction brand and product integration as well as analyze the effect of the motives to the integration strategy. The cases chosen for the research were Chinese Geely acquiring Swedish Volvo in 2010 and Indian Tata Motors buying British Jaguar Land Rover in 2008. The main topics were chosen according to their significance for companies in automotive industry as well as those are most visible parts for consumers. The study is based on qualitative case study methods, analyzing secondary data from academic papers and news articles as well as companies’ own announcements e.g. stock exchange and press releases. The study finds that the companies in the cases mainly possessed asset-seeking and market-seeking motives. In addition, the findings refer to rather minimal post-acquisition brand and product integration strategies. Mainly the parent companies left the target company autonomous to make their own business strategies and decisions. The most noticeable integrations were in the product development and production processes. Through restructuring the product architectures, the companies were able to share components and technology between product families and brands, which results in cutting down costs and in increase of profitability and efficiency. In the Geely- Volvo case, the strategy focused more on component sharing and product development know-how, whereas in Tata Motors-Jaguar Land Rover case, the main actions were to cut down costs through component sharing and combine production and distribution networks especially in Asian markets. However, it was evident that in both cases the integration and technology sharing were executed cautiously to prevent on harming the valuable image of the luxury brand. This study has concluded that the asset-seeking motives have significant influence on the posttransaction brand and model line-up integration strategies. By taking a cautious approach in acquiring assets, such as luxury brand, the companies in the cases have implemented a successful post-acquisition strategy and managed to create value for the shareholders at least in short-term. Yritykset harjoittavat yritysostoja luodakseen osakkeenomistajille lisäarvoa. Viimeisten muutamien vuosikymmenien aikana yritykset kehittyvissä maissa ovat myös aktivoituneet yritysostoissa. Viimeisen vuosikymmenen aikana erityisesti autoteollisuudessa on esiintynyt suuria ja merkittäviä yritysostoja. Koska kilpailu kotimaan markkinoilla on kiristynyt ja yritykset ovat vailla vaadittavia valmiuksia, ne etsivät mahdollisuuksiaan laajentaa länsimaisiin markkinoihin hankkimalla arvokkaita etuja kehittyneiden maiden yrityksistä yritysostojen avulla. Tämä tutkimus pohtii näiden yritysostojen olennaisia kysymyksiä ja ominaisuuksia casetutkimuksien kautta. Tutkimuksen tarkoitus oli tunnistaa sekä yritysostojen motiiveja ja brändi- ja mallisto-integraation strategioita että analysoida kyseisten motiivien vaikutusta integraatiostrategiaan. Tapaus-tutkimuksiksi valittiin kiinalaisen Geelyn yritysosto ruotsalaisesta Volvosta vuonna 2010 ja intialaisen Tata Motorsin yritysosto englantilaisesta Jaguar Land Roverista vuonna 2008. Tutkimus on kvalitatiivinen case-tutkimus ja siinä analysoidaan toissijaista tietoa sekä akateemisten ja uutisartikkeleiden että yritysten omien ilmoitusten, kuten pörssi- ja lehdistötiedotteiden, kautta. Tutkimuksen tulokset osoittavat, että tutkittujen yritysten toiminnat perustuivat motiiveihin, joita ajoivat etujen and uusien markkinoiden tarve. Sen lisäksi tutkimustulokset osoittivat, että yritysoston jälkeinen brändi- ja mallisto-integraatio pidettiin minimaalisena. Pääasiallisesti kohdeyrityksille jätettiin autonomia tehdä omat liikkeenjohdolliset päätökset yritysstrategioihin liittyen. Huomattavimmat integraatiot koskivat tuotekehityksellisiä ja tuotannollisia prosesseja. Kehittämällä uudelleen tuotearkkitehtuureja, yritykset pystyivät jakamaan komponentteja ja teknologiaa tuoteperheiden ja brändien välillä. Tämä mahdollisti kustannusleikkauksia sekä kannattavuuden ja tehokkuuden parantamista. Geely-Volvo –tapauksessa integraatiostrategia keskittyi komponenttien jakamiseen yhteisten tuotearkkitehtuurien avulla ja tuotekehityksen ammattitaitoon, kun taas Tata Motors-JLR –tapauksessa päätoiminnat olivat kustannuksien leikkaus sekä tuotannon ja jakeluverkoston yhdistäminen erityisesti Aasian maissa. Yhteistä yrityskaupoissa oli, että brändi- ja mallisto-integraatio sekä teknologian jakaminen suoritettiin varoen ehkäistäkseen arvokkaiden luksus-brändien tuotekuvan vahingoittamista. Tutkimuksen lopputulokset osoittavat, että yrityskaupan motiiveilla on huomattava vaikutus brändija mallisto-integraation strategiaan. Toteuttamalla varovaista lähestymistapaa luksus-brändin hankinnassa ja integraatiossa, yritykset ovat onnistuneet luomaan lisäarvoa osakkeenomistajille vähintään lyhyellä aikavälillä.

Man and the Milieu: Ecocritical analysis of Ernest Hemingway’s “Big Two-Hearted River” and “Indian Camp

Pro Gradu -tutkielmassani tarkastelen Ernest Hemingwayn alun perin vuonna 1925 julkaistuja kahta novellia ”Big Two-Hearted River” ja ”Indian Camp”. Molemmat teokset kuuluvat Nick Adams -tarinoihin, jotka ovat kokoelma novelleja, joissa Hemingway kuvaa Nick Adamsin elämää pojasta mieheksi. Nick Adams on usein tulkittu Hemingwayn alter egoksi ja monet tapahtumat ovatkin suoraa heijastusta Hemingwayn elämästä. Päähenkilön lisäksi monia Nick Adams -tarinoita yhdistää luonnon vahva läsnäolo ja Hemingwayn kuuluisan maalauksellinen miljöön deskriptiivisyys. Käyttämäni ekokriittisen teorian avulla pyrin osoittamaan tutkielmassani, että Nick Adamsin hahmo peilautuu miljöökuvauksessa syventyen dynaamiseksi hahmoksi ja että Hemingwayn luonto- ja ympäristökuvaus peilaa hahmon sisäistä maailmaa hyvinkin läheisesti. Tutkimukseni teoreettinen viitekehys, ekokritiikki, on kirjallisuudentutkimuksen suuntaus, joka tutkii ihmisen ja fyysisen ympäristön suhdetta toisiinsa. Lisäksi hyödynnän tutkielmassani dikotomioita, joiden avulla tarkastelen ja analysoin novelleista nousevia aiheita. Esimerkiksi seuraavat dikotomiat ovat keskeisiä molemmissa novelleissa: kulttuuri vs. luonto, pastoraali vs. erämaa, matka vs. oleskelu, keho vs. mieli, vesi vs. maa, tuli tai valo vs. vesi ja elämä vs. kuolema.

Brazilian, Chinese, and Indian exports: is the regional market really a source of learning?

In some Latin American countries the exporting activity starts at a regional level, with producers only later venturing into more competitive markets. The implicit risk is that a country might never progress from the regional stage to a more global market. This article compares the experiences of Brazil, China and India. It is shown that Brazil relied on the regional market far more intensely than these Asian countries. There were clear gains accruing to China and India for having exploited more sophisticated markets from the very beginning of their export drive.

Stretching the drum skin : an analysis of power relations in leadership and succession in the Evangelical Lutheran church in Tanzania-Northern diocese 1942– 1993

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Creating Shared Value in India: How Indian Corporations Are Contributing to Inclusive Growth While. Strengthening Their Competitive Advantage

Competitividad y valor compartido

Speeches delivered by several Indians chiefs.. also an extract of a letter from an Indian chief /

Reprint of the 1810 ed. printed by Samuel Wood, New York,

Christian Church member at pulpit; Chapman College Chapel, Orange, California

Chapman College Chapel, Orange, California. The wooden-shingled church, constructed in 1909 for the congregation of Trinity Episcopal Church, is located on the northeast corner of East Maple Avenue and North Grand Street. Chapman College (now Chapman University) purchased the church for their chapel when the congregation moved to a new church on Canal Street.

Beamsville Baptist Church papers, n.d.

The material outlines the history of the early Baptist church in Beamsville, from its inception in 1807 until approximately 1859. This may have been the basis of a manuscript on the history of the church.

Gainsborough [Presbyterian] Church records, 1833-1836, 1841-1846, 1855-1857, 1860-1864, 1866 [photocopy]

The Gainsborough Presbyterian Church was organized prior to 1833, but no records were kept until this date. In 1809, the church was lead by Rev. Daniel Ward Eastman. In 1833 the church became part of the Niagara Presbytery of the American Presbyterian Church. The records include transfer of membership, records of marriages, lists of subscribers and session minutes. Photocopies from originals were made in 1977 by E. Phelps, University of Western Ontario, prior to their deposit with the United Church of Canada Archives, Toronto, Ont.

Grace Anglican Church (St. Catharines, Ont.) collection

Grace Anglican Church was founded as a mission church of St. Thomas', St. Catharines. A large house, originally built and owned by the William and Maria McCalla family, was donated by Colonel R.W. Leonard for this purpose. The mission was dedicated on 29 June 1921. It was not until 1938 that Grace Church became an independent parish. A church building was constructed and opened on 28 November 1939. In April 1956 part of the church was damaged by fire, was rebuilt and enlarged.

Indian and Eskimo Affairs Fonds, 1973-1976

In September 1968, the Indian Affairs Branch of Canada within the Department of Indian Affairs and Northern Development (DIAND), ceased to exist as a result of a major reorganization. In its place the Indian and Eskimo Affairs Program emerged including elements from both the former Indian Affairs and Northern Administration branches. This new structure was based on function rather than on geographic location or ethnic origin. The Program included the areas within the Department responsible for adminstration of; education, social, cultural, community and economic development as well as statutory commitments. After 1978 the Program became known as the Indian and Inuit Affairs Program (IIAP).

British Methodist Episcopal Church Tithing Ticket, 1875

This is a quarterly tithing ticket from the British Methodist Episcopal Church, signed by R. Miller, Minister, and dated November 28, 1875. It was in the possession of the Rick Bell Family of St. Catharines, Ontario. Relatives of the Bell family include former Black slaves from the United States who settled in Canada.

British Methodist Episcopal Church Tithing Ticket, 1874

A quarterly tithing ticket from the British Methodist Episcopal Church, signed by Walter Hawkins, Minister, issued on August 16, 1874. This ticket was in the possession of the Richard Bell Family of St. Catharines.Minister Walter Hawkins was Superintendent of the Conference for the British Methodist Episcopal Church (Brant Co.) This excerpt from the Dictionary of Canadian Biography Online describes his role in reestablishing the BMEC in Canada following a period of reunion with the African Methodist Episcopal Church, an initiative spearheaded by Richard Randolph Disney, a free-born black American Methodist preacher. "By the end of the 1870s the BMEC had 56 congregations with about 3,100 members, the bulk of the latter being in the Danish West Indies and British Guiana. Because mission work outside Canada had overtaxed the church's financial resources, in 1880 Disney began negotiations towards reunion with the AMEC. The reunion was effected that year, and it was overwhelmingly ratified at a BMEC convention held at Hamilton in June 1881. A referendum showed that although a majority in Ontario was opposed, 86 per cent of the membership was in favour. Disney was accepted as an AMEC bishop and was assigned to its Tenth Episcopal District, a region embracing his former territory as well as some of the AMEC churches in Canada which had not joined the BMEC. Reunification appeared to have been a triumph for Disney, but trouble soon occurred. A majority of the Ontario churches and preachers, led by the Reverend Walter Hawkins of Chatham, sought to re-establish the BMEC, fearing the loss of their distinctive identity and perhaps feeling that the Caribbean groups had exercised too much influence on the reunification question. In 1886 this group held an ecclesiastical council at Chatham, at which it was claimed that Disney had defected to the AMEC. At a subsequent general conference that year the BMEC was reconstituted. The conference deposed Disney, agreeing to "erase his name and ignore his authority, and cancel his official relationship as bishop." The conference minutes also refer to a court case instigated by Disney which reached the High Court of Chancery in Britain, but records of this case have not been located. The reconstituted BMEC elected Hawkins as its general superintendent, avoiding the title of bishop for several years." Source: Dictionary of Canadian Biography Online. Government of Canada.

British Methodist Episcopal Church Tithing Ticket, 1879

A first quarterly tithing ticket from the British Methodist Episcopal Church, signed by W. Grayson, Minister, and dated August 1, 1879. This ticket was in the possession of the Rick Bell Family of St. Catharines, Ontario. Relatives of the Bell family include former Black slaves from the United States who settled in Canada.

British Methodist Episcopal Church Tithing Ticket, 1884

A third quarterly tithing ticket from the British Methodist Episcopal Church, signed by the Minister, and dated February 17, 1884. This ticket was in the possession of the Rick Bell family of St. Catharines, Ontario. Relatives of the Bell family include former Black slaves from the United States who settled in Canada.