Why Renault entered into joint venture with Mahindra

Why Renault entered into joint venture with Mahindra Internal Benefits: Joint ventures are formed in quest of managing companys resources in efficient manner. This includes techniques to reducing cost and risk that the firm faces, obtaining scarce resources, obtaining cheap factors of production (land, labour and capital), to include new information and increase the managerial know how so that productivity can be increased and to retain innovative employees of the firm. There are many capital intensive techniques followed by companies in oil and gas exploration, metals processing and mineral extraction. Internal benefit include building companys core strengths  Ã‚   Helps in to develop economies of scale by gaining access to other financial resources Joint venture help company to acquire new technologies and customers and gives access to knowledge, skills and better management Competitive Benefits: Joint venture helps companies to restructure their organisational structure. Competitive advantage is achieved by vertical integration or consolidation of the firms. This also helps the firms to have an influence on industry structure and competitors. Responding to the new globalisation trend this approach may help in creation of more effective competitors. Some other benefits are: Joint ventures are helpful in building competitive barriers against the new entrants. They act as a defensive strategy in response to the converging markets Helps in creation of small and competitive units of the firm in various geographical locations It also helps in reducing the time cycle to the market they are involved in Strategic Benefits: Joint ventures help in companies to implement change in their strategic position. This helps in better creation and exploitation of synergies among the two companies. Joint venture facilitate in the transfer of technology and diversification of the firm. Technology transfer helps in building knowledge to expand into key markets It also helps to develop new products and improve productivity by shared expertise and lower costs because indulging in research activities to develop new products can be time-consuming and costly. Small businesses also gain lead-time In the total number of joint venture formed, many were international joint ventures. Many of them were due to the cost involved in the operations. Companies in some industry depend on the technology to reduce costs. Joint ventures are favourable for them because they help them in accumulating money and people to work in short time, with not much time wasted in training and later to develop specialisation in a specific activity. This all leads to reduced exploration and production costs and thereby increase in the profit margins. Joint ventures are not as easy to manage as we are talking about. Sometimes companies are forced to follow a joint venture strategy because of the host countrys business regulations. For example China does not allow outside company to own a majority of domestic business. Mexico requires the companies for any foreign company which is operating in the country to have a joint venture with a domestic company. In addition to government regulations, other reasons f or multinational joint ventures as mentioned above are cutting the costs of doing business, sharing risks with acquiring technological information and management expertise from other companies. Kogut (1988) gave 3 different reasons for the existence of joint ventures. They were: Transaction cost approach: The cost aspect of a transaction in joint ventures helps in explaining joint ventures in terms of market failure for intermediate inputs in the production, various asset specificity, and high uncertainty over specifying and monitoring performance. As inspired by Penroses (1959) work, it is specified and shown in recent development in management research that to one should analyze and develop a firms strategy by focusing on its resources instead of the external environment. Two key behavioural assumptions of TC theory are opportunism and bounded rationality (Williamson 1991a). The transaction theory suggests that if firms with complementary resources try to produce individually then they will have to fight for the scarce resources and acquire them at greater cost. Another major motive behind joint venturing is the possibility of creating Ricardian rents. A Ricardian rent means the presence of scarce resources which generate higher profits than other resource s of the same type. Strategic behaviour approach: A joint venture addresses the difficulties faced by the organisation by providing a superior alignment of incentives through the mutual dedication of resources and by sharing the residual value of the venture. Joint venture is established in a spirit of mutual trust and commitment to its long-term success, the potential threats posed by opportunism and a small-numbers condition can be reduced. Organisational learning approach: Joint Ventures help in organisation learning Williamson (1991b) extends his analysis to strategic alliances, which is said to have the hybrid mode of governance, which are considered to occupy positions between the two ends of the market-hierarchy continuum. These hybrids in joint ventures are said to have stronger incentives and adaptive capabilities than hierarchies, which helps in providing more administrative control than markets. In global industries with globalisation there is higher need for organisational learning. This asks the firm manager to look for global efficiency, which later plays an important role in resource based theory. In a joint-venture setting, there is interaction and communication between the members of different firms. This information flow increases the boundary permeability with respect to the partners resources. This helps in offering an opportunity for learning. A popular example of this is ToyotaGM joint venture, in wh ich both partners had clear learning objectives (Adler and Cole 1993). Another use of joint ventures is to get rid of a business unit, that is, disposal of resources. Nanda and Williamson (1995) have argued that converting the business unit into a joint venture between the parent and buyer helps in selling of the unit. The joint venture operates for several years during which buyer learn about the operations of the unit is going to acquire and slowly resources will be integrated with those of the buyer. By initially running the business as a joint venture, the buyer in benefit of obtaining hands-on management experience and an insiders s view of its operation. Seller also has interest to teach the skill and tricks to buyer of business, since the price that the buyer is willing to pay when buying out the business depends on the joint ventures performance. Firms often go for the local partners in the domestic market in which they want to mark a presence, these are because of the following reasons: Items readily capitalised Human resource needs Government regulations and incentives Market access needs and speed of entry Knowledge needs and learning of new marketing methods A joint venture is formed only when all the organizations involved individually arrive at a positive net benefit calculation. For example, one partner considers the joint venture as an opportunity for learning a new technology while the other uses the venture to further exploit the technology. When two firms have had a great deal of experience of working together, they get to know more about one anothers culture and management style, and adjust their own accordingly thus the two firms are in a better position to explore collaborative opportunities compared to other firms which dont form any alliance with other firms. This all leads to identify ways of complementing joint venture their resources effectively for creating rents. This involves the proper analysis of costs involved in different companies. For example If there exist two oil companies which want to set up a new drilling platform in ocean areas, and neither one has capability to finance the project on its own, so the simple solution to them is to look for joint venture. That way, they share the costs of setup of drilling platform and other projects which later helps them in reducing their individual risk should they find no oil. That is a decided advantage to many business people. A complete study of operation, management and finance has to be done to successfully implement the joint venture. Joint ventures are quite helpful to some companies in gaining access to foreign markets. Sometimes both the firms forget the primary objective of their operation and just form joint venture to come into foreign market. These products bring in the foreign domestic investments in the host country through the firm with which joint venture is formed. So many governments give incentives for joint ventures. Joint ventures are a sometimes used to boost up the creeping sale. This can be the first step in acquisition of a business. It can also be used to act as catalyst for change, which is by bringing in a partner one, can stimulate more entrepreneurial activity in a particular area of a firms business. Joint venture also helps in expansion of customer base by expanding the scope and utilising other firms strength in different geographic market, using its distribution or sales network International joint ventures have also been pushed by international financial institutions such as the International Monetary Fund, the World Bank, and the World Trade Organization, who have given incentives by forming policies to eliminate trade barriers and deregulate foreign ownership restrictions and the international flow of capital. This helped in creating a climate in which international investment and partnerships have become increasingly attractive. In new scenario joint ventures have become means by which companies seek to expand profit margins and market share. In addition, regional trade areas such as the North American Free Trade Agreement (NAFTA), the European Union (EU), and the Association of South and East Asian Nations (ASEAN) have worked to establish favourable conditions for joint ventures within specific, relatively localized regions. Why Renault entered into joint venture with Mahindra Mahindra? As told by the CEO of Renault Mr. Carlos Ghosn this joint venture was seen to be useful to mark a new step in Renaults global expansion strategy. The joint venture has started the Renault operation in the Indian market which is highly emerging market with respect to automotive sector. As Renault had no experience with the needs of Indian customer joint venture with MM was seen to help to create the first right hand drive version of Logan created to meet the needs of our Indian customers. Renault was also eyeing to mark its presence in Indian market in short period of time, Mahindra and Mahindra gave them that adequate platform. In the beginning of 2005 Renault designers visualized a low-cost car that was to retail for under Euro 5000. The car had quite good features however it looked robust and trustworthy compared to the sleek beauties manufactured by the Japanese and the Koreans. The car became a big hit and enjoyed pampering from buyers in most parts of Europe. Europeans liked the cars no-frill appeal. Renault thought of entering into Indian market, when it analysed the companies it sought upon Mahindra and Mahindra which was the main force behind the Tata Group. Mahindra and Mahindra helped Tata Motors for over ten years helping them build the modern day passenger vehicle. Mahindra also in seeing the future prospects of snatching the opportunity and mark its presence in Indian market started working in unison with Renault and started building and selling the Logan in India. Both Mahindra and Renault shared the profit of gaining knowledge and expertise. MM would get all important expertise needed to build monocoque or unitary construction. Renault, on the other hand, would gain direct knowledge of the cost-effective supplier base that Mahindra enjoyed in India. A labour-intensive car plant was established as against a fully automated one to analyze the quality and cost-effective work force available in India. The two groups concluded a framework agreement for setting up a joint venture in India with Mahindra retaining a 51 per cent share and Renault 49 per cent. The JV will be called Mahindra Renault Ltd. The estimated project amount was 125 million Euros. With other European automotive counterparties like Fiat and Skoda had little presence this venture was also seen a major competition to them. Mahindra did a customer research in Logan segment and found strong response for this C-segment car. Renault was looking for major global expansion; along with India it was also starting its operations in Romania, Russia, Morocco, Colombia and Iran. Renault was looking for a long term relationship with Mahindra and Mahindra and was looking for greater prospects in coming years of 2010 to 2012. Renault chose Mahindra and Mahindra because of the following reasons: Mahindra Group a US $ 2.5 billion company is the market leader in multi-utility vehicles and tractors in India. Mahindra and Mahindra had 55 years of manufacturing experience MM had built its high network of distributors and suppliers in India efficiently Mahindra group had built a strong base in technology, engineering, marketing and finance (Mahindra intertrade and MM financial services Ltd.). It also has a significant presence in key sectors of the Indian economy High presence in automotive components, information technology telecom (Mahindra British Telecom), and infrastructure development (Mahindra GESCO, Mahindra Holidays Resorts India Ltd.) Mahindra had a reputation of providing TATA Motors the platform to harness the automotive growth in India MM had not much presence in Sedan segment i.e. C-segment so Renault had no fears of having conflicts of interest Mahindra as a brand was a trusted brand in India. With the leverage of Mahindra as a brand Renault was also leveraging its own brand in Logan, as the joint venture was called Mahindra-Renault The transfer of knowledge and technology was mutually beneficial for Renault and Mahindra, it was good symbiotic relationship

History of Translation in Canada Essay

The study of translation has been the center of attention of several scholars and schools of thought during the last three decades. Some terms related to the field of translation studies belong to a common language that it has been incorporated to the everyday language of translators; such as correctness, similarity, fidelity, original text, adaptation, equivalence, translation strategies, among others. However, most of the time these translations and equivalences express a connection between the source text and its final version; in such a way that conveys the same communicative function in their respective cultures. Cuba has not been exempted from the translation studies; most of the research on translatology can be referenced back to Amparo Hurtado, David Curbelo, Rodolfo Alpizar and Lourdes Arencibia whom have done a profound research on this branch of the linguistics science during the last thirty years. However, in the first stage of the current term paper it was established -in the case of the English Language Department at the Universidad de Oriente- that the history of translation in Cuba was lightly treated. A survey conducted among 10 students of the second year of the English Language Major during the present academic course (2011-2012) showed that they had a limited knowledge on what history of translation is; however, they seemed to find difficult to characterize translation in Cuba given that they do not have any source where to find information about the issue and their input on the topic was insufficient. Consequently, a question arose: how could they know about the History of Translation in Cuba? Hence, the insufficient knowledge regarding the history of translation in Cuba by the English Major Students of the Universidad de Oriente constitutes the scientific problem of this research. The object of this term paper is the translatological work of Jose Marti Perez The research domain is the translation of the book Greek Antiquities carried out by Jose Marti Perez. The objective is to carry out a contrastive analysis of the translation work developed by Jose Marti Perez of the book Greek Antiquities, which would help to illustrate the general characteristics of the translatological work in the XIX century in Cuba, in order to propose an instrument in the 3rd stage of the research that facilitates the searching of information on the History of translation in Cuba by the English Major Students of the Universidad de Oriente. In order to accomplish the objective in this second stage term paper some scientific tasks were taken into consideration on this second stage: †¢ To approach the XIX Century translation in Cuba and Jose Marti’s translatological work. †¢ To conduct an epistemological analysis of translation, methods and techniques †¢ To develop a contrastive analysis of some fragments of the book Greek Antiquities together with the translation undertaken by Jose Marti Research Methods Theoretical Methods: †¢ Analysis-synthesis: this method had been used to collect and analyze outstanding information acquired from the bibliography consulted. †¢ Hermeneutic: this approach was used to interpret and understand the information gathered. †¢ Induction-Deduction: In the analysis of the different bibliographical sources that contributed to the theoretical explanation of this research. ` Empirical Technique: †¢ A survey applied to students of the second year of the English Language Major. The idea to defend is that a contrastive analysis of the translations work carried out by Jose Marti Perez of the book Greek Antiquities with the original work may be useful for ELP students to learn about XIX Century translation in Cuba. This term paper is structured into one chapter, subdivided into three sections. The most important contribution of this research is to provide English Language Major Students with a contrastive analysis of the translations work carried out by Jose Marti Perez of the book Greek Antiquities that they can use as a bibliographical and practice material for the subject Introduction to translation. An approach to translation undertaken in Cuba in the XIX Century. Jose Marti and his translatological work. Translators in XIX century were people who mostly had the opportunity to travel abroad (mainly Europe and the United States), often motivated by separatist aspirations, therefore, by study or experience, they knew several languages and interacted with other cultures. Among the most important figures of this period were Jose Maria Heredia y Heredia (1803-1839), Gertrudis Gomez de Avellaneda(1814-1873), Antonio and Eusebio Guiteras Font. Even heroes of our independence war like Juan Clemente Zenea and Diego Vicente Tejera made some translation works, but it is undeniable that the most important figure in this period was Jose Marti Perez. Like many men and some women with access to a good education in his time, Marti studied Latin, Greek, French, English and even some Hebrew. Due to his studies, intensive reading and extensive travels; Jose Marti came to acquire a deep knowledge of his mother tongue, virtually in all its variants. His command of English was deepened and strengthened as he lived in the U. S. His travels through Latin America and Europe enriched his knowledge of French and English, in that way he translated the works of Victor Hugo, Ralph Waldo Emerson and Helen Hunt Jackson into Spanish. The translatological work that was carried out in the XIX century will be illustrated through analyzing a sample of a translation developed by Jose Marti. Even when in the XIX century there is no evidence of any translation school in Cuba and those works were made empirically, some epistemological aspects about translation should be taken into account, like correctness and similarity, methods, techniques and strategies, which will help us to evaluate the quality of the translation in this century. Contrastive analysis of some fragments of the book Greek Antiquities and the translation undertaken by Jose Marti. Using the model proposed by Professor MSc. Tania Vivar in her master thesis, a sample of the translatological work of Jose Marti will be analyzed in order to prove that he was able to translate properly and according to the target readers. He translated from English into Castilian to the Newyorker publishing house Appleton and Co. : Greek Antiquities by J. H. Mahaffy (1883) as part of a group of historical-didactic works. Even when Marti never had any academic formation in translation or in history of Greece, his vast culture was a powerful weapon when translating this book. It can be stated that Jose Marti respects the external and also the internal order in his translation of the original text, the number of paragraphs, the order of the chapters and the sequence of the ideas and uses a neutral vocabulary in accordance to the type of text that he is translating. The work is addressed to the Spanish-speaking public so the translation is direct, which facilitates the correct translation of some idioms and helps him to handle properly with cultural issues. The translation is very faithful to the original text and the statements are very clear and concise. To achieve this purpose he used the literal translation in multiple occasions. In order to create a translation as close as possible to the target readers Marti did some necessary additions and omissions which added logical meaning to the Spanish version and made it look as a text written originally in Spanish. Through the use of literal translation it is not always possible to achieve the same tone of the original text; as a solution to this problem Marti used the modulation. Using his enormous culture and his full knowledge of his mother tongue, Marti could change the original text and reformulate many of the ideas using the implicit translation as he did in some other times, but in this specific translation he only makes few adaptations that were necessary to maintain the tone of the original text. In this translation Marti is able to use different methods that go from the literal method (with techniques like the literal translation) to the interpretative-communicative method (modulation and variation). He was not attached to any specific method or technique; this also demonstrates that he could decide the more appropriate one depending on the type of text, the target reader or the complexity of the idea. Conclusions Translation is considered to be the transfer of meaning from one language into another, respecting the author’s intention and taking into consideration the context which will give a particular sense to such meaning. Throughout all of our history translation has played an important role. For those reasons, the authors of this term paper consider that it would be very useful to undertake a research through a three-stage format with the purpose of providing information regarding the history of translation in Cuba. Therefore, a contrastive analysis of the translation work carried out by Jose Marti Perez of the book Greek Antiquities with the original work was developed, which helped illustrating the general characteristics of the translatological work in the XIX century in Cuba. Hence the authors of this term paper believe that an instrument in the third stage of the research will facilitate a thorough search of information on the History of translation in Cuba by the English Major Students of the Universidad de Oriente since it deals with a subject that has barely been dealt with. Recommendations ? It would be advisable to conduct further research on this important topic, due to its relevance to the English Language Major. ? The results of this paper could be implemented in the study material of the subject Introduccion a la traduccion for second year students of the English Language Major.

Sigmund Freuds Theory of Psychoanalysis Essay example

Sigmund Freuds Theory of Psychoanalysis Freuds methods of psychoanalysis were based on his theory that people have repressed, hidden feelings. The psychoanalysts goal is to make the patient aware of these subconscious feelings. Childhood conflicts that are hidden away by the patient, become revealed to both the analyst and the patient, allowing the patient to live a less anxious, more healthy life. Methods of hypnosis were originally used by Freud to find the cause for anxiety, but he dismissed them as being too inaccurate. He started to use methods of free association to delve into the patients sub-conscious. By assessing the patients reactions to the analysts suggestions, Freud saw that the analyst could help the†¦show more content†¦Through the slips made when the patient was told to carry out the free-association process, and some of the patients beliefs and habits, Freud could delve into the patients subconscious. These thoughts produced a chain directly into the patients subconscious, and unearthed memories and feelings. This process soon became known as psychoanalysis. Freud also believed that dreams were an important way of getting into the patients subconscious. By analyzing dreams, he could reveal the basis of conflict within the patient. Freud believed the mind was made up of three main parts: the conscious, the preconscious, and the subconscious. The conscious region is the part that people are most aware of and what others can see. The preconscious region holds thoughts and feelings that a person can become aware of but that are mostly hidden away. Finally, the subconscious region consists of thoughts and feelings which are completely hidden away and which one is mostly unaware of. Some believe that the preconscious region is really a small part of the much larger subconscious region. Freud said that the mind is like an iceberg, with most of it, the subconscious, hidden away, and only a small part, the conscious, showing above the water, able to be seen. Why, then, would the majority of the mind be hidden; why is the subconscious region so much larger than the conscious region? Freud explained that the answer is that oneShow MoreRelatedSigmund Freuds Theory Of Psychoanalysis1636 Words   |  7 Pages This passage from â€Å"Psycho-analysis,† Sigmund Freud’s essay detailing the origins, methods, and applications of his theory of psychoanalysis, reveals the utility of his approach in understanding what lies beneath the surface through the interpretation of dreams, which later psychoanalytic critics related to the interpretation of literature. 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The Impact of the Scientific Revolution Upon the...

The age of Enlightenment was a progression of the cultural and intellectual changes in Europe that had resulted from the scientific revolution during the sixteenth and seventeenth century. The scientific revolution and the discoveries made about the natural world would ultimately challenge the way people perceived the world around them. Scientist found real answers, by questioning flawed ancient beliefs that were widely held and maintained by the church. Ultimately, these discoveries and scientific advancements would evolve and effect social, cultural, and political developments in Europe over the course of time. The scientific revolution had provided certainty about the natural world that had long been questioned. With these new†¦show more content†¦At its climax the scientific revolution would bring enormous change with the revolutionary contributions made by Isaac Newton. Newton, building on previous works produced the concepts of gravity, and he developed the three laws of motion which could be accurately proved through mathematical calculations. These discoveries about the natural world would serve to mend past uncertainties which in turn gave people real hope. It was the beginning of an end of Europe’s dark times and the birth of many new innovations and developments that were to come in the eighteenth century. It was truly a new age where through reason one could become fully become enlightened. In addition to the breakthroughs that monopolized the sixteenth and seventeenth centuries, a new model of thought had emerged from the scientific revolution that would dominate the minds of eighteenth century thinkers. With the scientific revolution the world had officially become open for inquiry and it asserted that the only way to gain true knowledge was by becoming rational and objective. Using seventeenth century modes of thinking, primarily those of Descartes, Newton, and Locke, a new group of innovators emerged that would change the way people observed the world around them. At the core of this new movement were the French intellects known as the Philosophes. The French writer Voltaire, influencedShow MoreRelatedSir Isaac Newton And The Scientific Revolution967 Words   |  4 Pagesmathematics to chemistry. While many individuals made substantial contributions to that time, there is one man who stands above the rest for his impact on the knowledge of the Europe of the Scie ntific Revolution and the subsequent Enlightenment. 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