Business turnaround

The Renault company best known for its innovative and design was to undergo a turnaround with the Japanese motor giant, Nissan. The Nissan has a prolonged fame of producing quality engine systems. The two companies agreed to form a major strategic alliance. This alliance would be the fourth largest car making company across the globe. The Renault was to assume $ 5.4 billion of Nissan’s debt.Advertising We will write a custom coursework sample on Business turnaround – Renault and Nissan company specifically for you for only $16.05 $11/page Learn More This alliance made sense for both sides since the Nissan Company’s strengths would cover the gaps of the Renault company and vice versa. The Renault was to reduce the much debt owed to the Nissan industry. The success of the alliance would purely depend on the conversion of the Nissan of the Nissan industry into a profitable and rising business as proposed by Schweitzer. An earlier attemp t by the Renault Company to merge with Volvo was not successful due to the traditional state control of the player countries. Before the idea of turnaround had emerged, Nissan Company was really struggling to earn the estimated profits. The cost of making a Nissan vehicle was extremely high hence; its market price for its products were high compared to other firms in the industry. The company stock had to accumulate since it would pile more than million more cars each single year. This made the company accumulate more and more debts. In order for the company to protect its identity and maintain self-esteem for its people merger was the most appropriate option as at that time. Currently, the turnaround has achieved more success beyond its imagination. Nissan is very profitable, and its identity has been on the upward growth. The successful turnaround of the two companies is due to the mobilization of the Nissan managers through cross-functional teams meant to spearhead radical change s and maintenance corporate culture by the Renault Company. The Nissan Company made new culture by dramatically breaking its past traditional culture. This enabled it to save money and alienate form the persistent loss making habit associated with the former method. The company had to dismantle the Keiretsu investments to realize its capital locked up in these in this real-estate investment. In a close analysis, the major problem of the Nissan Company was not only financial constraint but also cultural difficulties. Its older employees stuck down more money and power than they did actually perform breeding complacency to the company hence undermining its competitiveness. This culture made the company realize more loses, as its customers did not consider how the company undertook the process. However, what the customer required was well-designed and quality products at affordable prices. The company had no choice but to drop this culture and ditch the seniority rule. The company also revamped its compensation system and focused on performance. The company also had another culture of blame where in the case of failure it was due to another persons fault.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The success of such turnaround is ensured by building a trust through transparency within the operations of the two parties. In this alliance, building transparency was through keeping promises and providing totally clear and verified reports. The transparency was through ensuring each party knew what the other was doing and had a record the expected outcome. The alliance has moved form cross-function to cross company. The two companies had to set up series of joint ventures and formed legal structures that effected the cross-company plan. The companies set respect as the motivating factor for their combined dealings. Since the Renault was not the Nissan’s pref erred partner bestowing respect was an important aspect for long-term friendship. Generally, Nissan’s identity and culture have been the main cause of its success. The relationship between the two companies has grown greatly despite the fact that at the inception Nissan was more of a leaner than the Renault. This coursework on Business turnaround – Renault and Nissan company was written and submitted by user Eliseo Mcgowan to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Mary Cassatt essays

Mary Cassatt essays She was a woman who soared to the stars across the firmament of the male-dominated international art world. She was the only American, male or female, to become a member of the French Impressionists. Most women of her time were confined to the circumscribed world of marriage, homemaking and motherhood, but not her. Who is she? She is Mary Cassatt, certainly the greatest American female artist of her time, and arguably the greatest artist produced by any nation. Born in Pittsburgh on May 23, 1844, this American artist studied at the Pennsylvania Academy of Fine Arts in Philadelphia before traveling extensively throughout Europe. The daughter of an affluent businessman, Cassatt's parents were not enthused with their daughter's aspirations to become an artist, preferring instead for her to return home to marry and settle down. But the independent Cassatt made Paris her permanent home in 1874, the year of the first Impressionist Exhibition and Cassatt's first Salon success. She met Degas in 1877 and the relationship had an immediate effect on Cassatt's work. While she employed an impressionist style and exhibited at 4 of 8 Impressionist exhibitions, her paintings express a uniqueness of their own. Most famous for her mother and daughter paintings, Cassatt also called upon other motifs which depicted the world around her. Access to the cafes and corridors of her male counterparts were denied to women, yet Cassatt's paintings are expressions of her ability to circumvent these limitations and reflect another aspect of Parisian modern life. She produced genre paintings and portraiture, and Cassatt's depictions of women are ones of independent and powerful beings. The first three decades of Cassatts career was largely shaped by outside influences- art school in the 1860s, the masters of realism in the 1870s, and the French Impressionists in the 1880s. The decade of the 1890s marks a period when her unique creativity and ...