An Analysis of the Seniority Problem Essay Example | Topics and Well Written Essays - 2750 words

An Analysis of the Seniority Problem - Essay Example Seniority in Companies can be positive or negative. This paper will discuss the positive and the negative of Seniority in companies non-unionized and unionized. How will Seniority affect the Company, Management, Co-Workers? The concept of seniority refers to an individual or a group who is in charge of or commands another individual or group. In companies seniority is often followed by additional privileges such as higher salary, more authority over subordinates, favorable work hours etc. â€Å"Seniority means precedence of position, especially precedence over others of the same rank by reason of a longer span of service. It is a system often used by employers as a basis for granting job benefits† (US Legal, 2009). Seniority systems help in protecting the employees from indiscriminate termination, occasioned by whims, malice or prejudice of the employer. On the other hand, it also helps in creating a harmonious work environment, filled with co-operation and solidarity amongst the workers (Ezorsky, Nickel, 1987). Several companies are known to offer job bidding rights to their employees which facilitate them in availing several perquisites. However these bidding rights are subject to certain restrictions imposed by the organizations, for instance, the employee claiming such a benefit must be employed in the company for a period of at least 12 months and / or worked in his capacity for a period of at least 6 months in his current job. Those who qualify are eligible to bid for additional benefits offered by the company such as promotion or transfer. According to Edwards (1993) â€Å"The right to seniority preference is closely linked to job – bidding rights†. In some organizations seniority preference rather often tend to be the determining factor in for employment, promotion, or transfer, and where factors such as qualification, skill and work record are more or less equal, seniority is

Advanced Financial Reporting Essay Example | Topics and Well Written Essays - 2000 words

Advanced Financial Reporting - Essay Example Another way of achieving growth is through Merger and Acquisition (abbreviated as M&A). The former is also known is organic growth where the firm uses its own resources (retained earnings, reserves and surplus, or equity capital) for financing growth. The later is also known as inorganic growth where the acquirer firm buys the assets and liabilities of the target(s) as on a given date (Sherman, 2010, p.1). Thus, M&A are external growth strategy that gains popularity mainly due to globalization. It has become an important an important way for firms to expand their product portfolios and gaining new markets. M&A also helps the firm’s to acquire knowledge, latest technology and improved management capabilities. In addition, M&A has been found to be extremely successful for specific sectors like pharmaceuticals where extensive Research & Developments are required. R&D does not only require huge capital investment but also requires knowledge in relevant areas so that the target pro duct remains competent on global scale (Kumar and Yadav, 2005, pp.51-63). The main motive for any M&A is to experience a synergy in existing operations as well as profitability of the firms. However, it is also important to note that not all M&A have been successful in the past and thus some failed to maximise values leading to huge capital losses (Frensch, 2007, pp.48-49). In July 2013, TD Travel of Cheshire acquired Hotel scene, the hotel booking agency of Bristol and consequently created a new entity by rebranding called Corporate Travel International. The combined entity is expected to boost revenues for both the companies to over ?100 million and also employ more than 160 staff across different units. With reference to the above recent acquisition, the objective of this study is to discuss with reasons as to why such business combination has taken place and also explain the probable consequences or problems that the companies might face in future. Merger & Acquisition Strategy As on July 12, 2013, TD Travel completed the acquisition of Hotel Scene. The acquirer in this case is TD Travel where as the acquired is Hotel scene. The deal was finance and backed by private equity investment firm LDC. The acquisition is expected to create one of the largest and independent corporate travel and booking agent entity of UK. The companies have decided to re-brand the combined business into Corporate Travel International. It is also expected that such M&A will create a synergy that can boost the revenues of the new combined business entity of over ?100 million. The companies are also expecting to employ over 160 staffs in different branches located across London, Liverpool, Wilmslow, Bristol, and Hull. From the press release of the company it was found that the director of LDC is very optimistic about the M&A and has recommended the deal. He also believes that the management team of TD Travel is very experienced and motivated and thus holds immense potential to take t he new entity to the next level of stimulating growth trajectory. Regarding the financing of the deal, a package of working capital and senior debt facilities was provided by Lloyds Banking Group’s Finance and Acquisition team. The negotiation was primarily led by Relationship Director of TD Travel, Richard Townsend. The responsibilities of lead manager and advisory of the deal was given to BDO LLP which is also one of the most reputed Accountancy and Business