Paul Van Dyke Concert Critique Essay Example | Topics and Well Written Essays - 750 words

Paul Van Dyke Concert Critique - Essay Example The costumes of the artist are a black shirt and black trouser. The staging of the singer is on a podium. The shooting of the video makes him appear to be moving across the podium from left to right and vice versa. A large part of the song mixes music, light, and motion using electrical control. The musicians were well prepared since the song achieved all the musical elements and styles in an efficient manner. The song is quite entertaining and has a message too. This is evidence that the musicians had a good command to the instruments (Ann 103). The song acted as an informative device to me. It made me feel the different and contrasting situations that humans undergo just because of the existing difference in time (Ann 98). The vocal style of the song is a soft one, which is not easy to understand. The next song is â€Å"the other side.† The song is categorized under the electronic dance music. The song has employed instruments such as guitar, drums, and piano. The vocal style used in the song is a soft one, and is easy to comprehend and interpret, with relevance to the video. Analyzed and interpreted, it is a political song showing the necessity of a good relationship between the top leading politicians in a given society and their subjects within the same society. The rhythm of the song is a complex one since there more than one rhythms in the song. It is easy for a dancer to get lost while listening. The song has a strong beat which changes in pitch and speed throughout the song. The tempo of the song is a medium a fast one. The costumes of the singer is a uniform black, both shirt and trouser. Other characters are in white attire. Considering the song’s choreography, there is no dancing on the performance of the song as the entire song takes place in the house of an old man. It looks like a story, in the making. The song was performed on a concert in New York. The musicians were not well prepared as there were difficulties hearing their voices. The instruments were high in volume submerging the performer’s voices. The lighting was red, in color making the background of the show appear red. The performers had a good command of music. Like other audiences, the song made me feel bad about the political system in our nation, where the top leaders behave like totalitarians towards their poor subjects. â€Å"Crush† is another song done by Dyke. There is the use of guitar, saxophones, trumpet, and drums in the song. It is electronic dance music. It is also classified under classical music. The vocal style is shouted, as there is a rising and falling of tones within the performance. The words or lyrics are difficult to understand. The core message

Nursing Profession in Australia Essay Example | Topics and Well Written Essays - 1500 words

Nursing Profession in Australia - Essay Example In 1856, she pressed the need for better hygiene conditions in all military hospitals of U.K. On her insistence, Royal Commission on the Health of the Army was established. It was in 1860 when the Nightingale Training School was established on two basic principles; first, that nurses should get training in hospitals and second was that nurses should live in a home devoted to discipline and moral life. Through this school, Nightingale transformed nursing from its disreputable past to a respectable career for all. (Florence Nightingale)Nursing Profession in AustraliaIt was in 1902, that the Australian Army Nursing Service was formed and since then more than 6,700 nurses have served not only in two world wars but in the wars of Korean, Vietnam, and the Gulf wars. (South Australians†¦)Before World War II, the training and education of nurses in Australia was modelled on apprenticeship.   Students got selected on the basis of their moral and educational standards. Students were not charged for lodging, boarding or for vocational training. After completion of the training they were supposed to provide the services to the hospital. Students used to gain valuable experience under the supervision of the 'Ward Sister' in different areas. Ward Sisters were trained and qualified nurses and capable to train student nurses. The system was known as 'Nightingale System’ and got established so firmly that it remained unchanged for several decades. (National Review†¦)... (South Australians†¦) Before World War II, the training and education of nurses in Australia was modelled on apprenticeship. Students got selected on the basis of their moral and educational standards. Students were not charged for lodging, boarding or for vocational training. After completion of the training they were supposed to provide the services to the hospital. Students used to gain valuable experience under the supervision of the 'Ward Sister' in different areas. Ward Sisters were trained and qualified nurses and capable to train student nurses. The system was known as 'Nightingale System’ and got established so firmly that it remained unchanged for several decades. (National Review†¦) Another era of nursing is said to have started from 1943 that remained until 1984.That started with the pressure on old system of training. Recurring shortages of nurses was due to resignation of many practicing nurses and also due to high dropout ratio among nurses under train ing. The reasons were mainly status of nursing, their wages, and work conditions. In 1943, the Kelly committee suggested various measures to improve the status of nurses and the complete overhauling of the training of nurses. The committee further suggested to appoint sister tutors and sister instructors to all training schools at the postgraduate level and to establish a College of Nursing. (National Review†¦) Subsequently, almost 25 years later in 1967, the Institute of Hospital Matrons of New South Wales along with Australian Capital Territory came forward to appoint a Committee to look into the various aspects of nursing. The report emphasised to prepare for training on nursing

Fair Values in the Preparation of Financial Statements Essay

Fair Values in the Preparation of Financial Statements - Essay Example Relevant Information Information needs to be relevant to the needs of users in order to serve its purpose. However, there are also other fundamental qualities that financial statements need to have. These qualities include comparability, faithful representation, consistency, completeness, understandability, and reliability (BPP 2009a). Information is useless if it is not reliable and in a number of cases, the values described as fair values in the accounts do not provide a reliable estimate of the value of assets and liabilities. According to Bath (n.d.) concerns also focus on this matter. It should also be noted the more reliable the information is the less relevant it will be. Relevant information has predictive value, feedback value, and timeliness. Reliable information is verifiable Comparability of financial statements Financial statements need to be comparable from one year to the next and between one company and another. However, even though fair values may be said to be curre nt and therefore more comparable, the fact that judgment needs to be exercised brings subjectivity into play. In addition to that, those judgments on which investors and other stakeholders depend have their own agenda. In some cases, they may exercise their judgment in such a way as to manipulate the accounts. This, therefore, brings us back to the reliability of the figures in the financial statements. ... Â  the International Financial Reporting Standards (IFRS) requires that the classification of financial instruments be recorded at fair value in a hierarchy consisting of three (3) levels. The first level (level 1) relates to quoted prices that have not been adjusted for identical assets and liabilities in active markets. The second level (level 2) relates to input prices but excludes quoted prices which are included in the first level and which can be observed directly for assets and liabilities, in the form of prices or in the form of derived prices indirectly. The third level relates to both assets and liabilities that are not based on market data that can be observed. IASB concluded that this would result in improvement for comparability purposes as well as assist in the convergence process of the IFRSs to the United States generally accepted accounting principles (GAAP). The basis that was given for that conclusion relates to the disclosures required by IFRS 7 and ASC having no differences in terms of their application. Khalik (2008) in his paper entitled ‘The case against fair value accounting’ indicated that its critics have suggested that in times of poor economic conditions fair value (FV) accounting leads to the generation of pessimistic assumptions that further result in significant reductions in asset values as well as major reductions in earnings because of the fact that unrealised losses are taken into account in the income statement.

The International Marketing Mix Case Study Example | Topics and Well Written Essays - 3000 words - 4

The International Marketing Mix - Case Study Example In terms of product, PepsiCo utilizes a wide variety of different positioning strategies for each product brand. However, as each food and beverage product is being distributed to different multinational consumers and a high volume of competition exists in this market, PepsiCo must use its marketing focus to create a connection with consumers through various branding activities. For example, if the typical Aquafina (bottled water) drinker is the athletic and motivated consumer fitting the psychographic profile of social and recreational enthusiast, PepsiCo must position Aquafina as a brand which befits lifestyle and utilizes various marketing communications (as an integrated bundle of marketing messages) to appeal to this demographic. In some developing countries, Aquafina might be more of a staple drink in an environment where clean, city water systems are not common in foreign neighborhoods. This would provide PepsiCo with the opportunity to position Aquafina as a reliant brand suc h as emphasizing its quality or mineral content. For instance, PepsiCo, in an attempt to appeal to the international consumer with a dedication for environmental advocacy, created a partnered marketing strategy with Sam’s Club (a Wal-Mart company) entitled Return the Warmth to promote recycling and other environmental initiatives (Annual Report, 2007). This indicates how the company utilizes various social trends and a desire to make brands appeal to different demographic segments as a means to give PepsiCo brands competitive advantage and boost international profitability. Â   Â   Â   Â  The company also utilizes creative marketing practices, such as new logo design and product packaging visuals, to appeal to the diverse multinational consumer. With the recent decline in global demand for PepsiCo products, the company is attempting to reinvigorate the Pepsi brand by changing cans. In an attempt to appeal to the foreign, contemporary U.S. consumer, the Pepsi brand designed the cans to reflect various emotions which are used in countries where text messaging is popular (Birchall, 2008).

Fair Values in the Preparation of Financial Statements Essay

Fair Values in the Preparation of Financial Statements - Essay Example Relevant Information Information needs to be relevant to the needs of users in order to serve its purpose. However, there are also other fundamental qualities that financial statements need to have. These qualities include comparability, faithful representation, consistency, completeness, understandability, and reliability (BPP 2009a). Information is useless if it is not reliable and in a number of cases, the values described as fair values in the accounts do not provide a reliable estimate of the value of assets and liabilities. According to Bath (n.d.) concerns also focus on this matter. It should also be noted the more reliable the information is the less relevant it will be. Relevant information has predictive value, feedback value, and timeliness. Reliable information is verifiable Comparability of financial statements Financial statements need to be comparable from one year to the next and between one company and another. However, even though fair values may be said to be curre nt and therefore more comparable, the fact that judgment needs to be exercised brings subjectivity into play. In addition to that, those judgments on which investors and other stakeholders depend have their own agenda. In some cases, they may exercise their judgment in such a way as to manipulate the accounts. This, therefore, brings us back to the reliability of the figures in the financial statements. ... Â  the International Financial Reporting Standards (IFRS) requires that the classification of financial instruments be recorded at fair value in a hierarchy consisting of three (3) levels. The first level (level 1) relates to quoted prices that have not been adjusted for identical assets and liabilities in active markets. The second level (level 2) relates to input prices but excludes quoted prices which are included in the first level and which can be observed directly for assets and liabilities, in the form of prices or in the form of derived prices indirectly. The third level relates to both assets and liabilities that are not based on market data that can be observed. IASB concluded that this would result in improvement for comparability purposes as well as assist in the convergence process of the IFRSs to the United States generally accepted accounting principles (GAAP). The basis that was given for that conclusion relates to the disclosures required by IFRS 7 and ASC having no differences in terms of their application. Khalik (2008) in his paper entitled ‘The case against fair value accounting’ indicated that its critics have suggested that in times of poor economic conditions fair value (FV) accounting leads to the generation of pessimistic assumptions that further result in significant reductions in asset values as well as major reductions in earnings because of the fact that unrealised losses are taken into account in the income statement.

Politicians and religious leaders Essay Example for Free

Politicians and religious leaders Essay What is courage and how do people define it? A lot of people have their own definitions of courage and a lot of them see it in many different ways. According to Webster’s dictionary courage implies firmness of mind and will in the face of danger or extreme difficulty (â€Å"Courage†). But in my own opinion having courage takes a lot of self confidence and audaciousness to be able to face one thing or do something that is very challenging and difficult. A lot of people define courage in lots of various ways. For other people such as soldiers, it may mean like fighting on a battle and facing all their enemies without any feeling of fear or hesitation to be able to serve their country and other people; willing to sacrifice their lives for the good of mankind and benefit of their country. In many circumstances, each and every individual in the world has courage. Different types of courage can be seen in their actions, words, works and other aspects of every human’s life. There are different kinds of courage and it depends on how an individual wants to illustrate it. There are physical types of courage and moral ones. Physical courage could pertain to facing or dealing with something that has something to do with being valiant and not feeling afraid of getting physically hurt and willing to face any kind of danger that can cause an individual to suffer physically or even face death. On the other hand moral courage is related to becoming brave and the act of doing something that is deemed to be right. It shows the readiness of an individual to demonstrate the right act despite of different consequences such as being put into shame or scandal. Two different kind of courageousness yet they both share only one thought and meaning, which is being fearless and ready to face anything whatever consequence it may lead one person (Welsh). People manifest the act of courage everyday as they live their life. From infants to adults, courage is always present and can be observed to each and every individual on earth. For instance, a one year old child should have courage to be able to learn to walk, children needs courage to go to their first day of school and meet new people, teachers, classmates and friends, even an adult should have courage to apply for a job and start working on a company. Another example is a man who loves a woman should have courage to tell her what he feels to achieve what he wants and he should also be ready for whatever consequence it may lead him, like knowing that the girl loves him too or it could be the other way around. Courageousness is the one who pushes somebody to do something no matter what outcome may be. Furthermore, sick people such as those who have serious illness who wants to live longer should have a lot of courage to fight for their lives and survive to be able to live longer. Politicians and religious leaders are also a good example of people who demonstrates courage. As for politicians, they have the courage to lead people and do their best to make things in order while religious leaders teaches people lessons in life and encourage people to do good and to be closer to God. They serve people and they are brave enough to do their tasks no matter what consequence they may get and experience out of their courageous act such as false accusations, mockery and scandals. Simple things in life require courage in order for somebody to do and face it. The true meaning of courage can be seen in every individual’s heart. Being brave is to stand up for what one person believes and act on it. It is something that can be seen in every human being. Courage may sound a very simple word but it has a great meaning and value to every person in the world. Without courage the world would be chaotic and the world will not be a better world. Works Cited Courage. Merriam-Webster Online Dictionary. 2009. Merriam-Webster Online. 2 April 2009 http://www. merriam-webster. com/dictionary/courage Welsh, Bill. Definition of Courage. 116acw. acc. af. mil. 14 September 2006. 2 April 2009 http://www. 116acw. acc. af. mil/news/story. asp? id=123027106

Advantages And Disadvantages Of Jvc Versus Wholly Owned Management Essay

Advantages And Disadvantages Of Jvc Versus Wholly Owned Management Essay When companies enter the international market, they are facing a very important decision-making. That is they enter the target market in which appropriate entry model. There are several entry modes to enter the international market. Two of them were discussed in the report: international Joint Venture Companies (JVCs) and wholly-owned subsidiaries. In light of the influence of the WTO with respect to relaxation of restrictions on foreign ownership across many industries in countries such as China and India, anecdotal evidence suggests that many companies are now opting to set-up wholly-owned subsidiaries rather than international Joint Venture Companies. Reasons they select wholly-owned subsidiaries were analyzed in the report. Disney Paris was taken as the case and the failed joint venture case shows that it is a key issue for companies to select appropriate entry mode to target country when they choose the target market. Advantages and disadvantages of the JVC versus the wholly-own ed subsidiary were analyzed in several aspects. In a wholly owned subsidiary, senior managers almost have the same cultural background and cultural differences and cultural conflicts could be avoided in management, while this cultural differences and cultural conflicts has been there at the time in JVCs. wholly owned subsidiaries have higher control right than JVCs and they can protect commercial secrets in order to avoid losing to the partner and competitors. They put higher investment and get higher returns than JVCs. While compared with JVCs, wholly-owned subsidiaries have some disadvantages in operational risks, higher opportunity cost, relatively large political risk and disadvantage of exit. Wholly-owned subsidiaries have higher operational risks than JVCs due to uncertain factors in operation and higher opportunity cost because they develop new sales channels and advertising channels to operate effectively under the host environment. Political risk is higher as they depend on the host countrys political environment and political stability. Wholly-owned subsidiaries could exit the host country difficultly because the full investment while JVCs are easier to end. More and more companies select a wholly-owned subsidiary as a few reasons discussed above. They hope get appropriate recognition and support from the host country, at the time get larger profit. 2.0 Theory and entry mode Entering the international market is that a business participates in global market competition and international business development with capital, products, technologies, services and policy. Market heterogeneity induces a positive correlation between firms decisions that can be spuriously confounded with positive strategic interactions. (Victor, Mira, Roman, 2007, p.449). Enterprises should elect the appropriate entry mode in understanding various factors. The factors are including companys strategy, international experience, and inherent technology, economies of scale, culture, pricing, promotion, investment costs, market size and market growth, political and legal, risk and so on. It can be seen in figure 1. Figure 1 the Factors of selecting entry mode Political Legal Economic Marketing Research Competitive Analysis Promotions Logistics and Distribution Products Services Pricing Culture Market Entry Strategy Organising/ Restructuring Disney opened the Euro Disney theme park in Paris, France, selecting the joint venture companies with the investment of 1.8 billion U.S. dollars, and 49% of total shares. Which the equity brought about was a considerable control on management and operation. The operating results of Disneyland Paris are not satisfactory so far. The number of tourists in Paris was much lower than expected during the first year and the per capita spending was below the expected level. All these made operating loss reach 900 million U.S. dollars of the Paris theme park, forced the closure of a Paris park hotel, and fired 950 employees. The failed joint venture case shows that it is a key issue for companies to select appropriate entry mode to target country when they choose the target market. The motive of selecting entry mode was to entering the market as fast as possible and to obtain benefit from the existing market share of the local firm.( Estrin et al.,1997, p.136). Enterprises should elect the appropriate entry mode in understanding various factors. The factors are including Unified strategic actions, international experience, and Exit barriers, economies of scale, culture, Control right, Profits received, Trade Secrets, market size and market growth, Limited market size, risk and so on. 2.1 International Joint Venture Companies The joint venture enterprise refers to joint investment, management and shares options and a total risk. The Joint venture partners can take advantage of a mature marketing network and they are easily accepted by the host country because of the participation of local enterprises. 2.2 Wholly-owned subsidiaries An enterprise directly invested to set up wholly-owned subsidiary in other countries. They can use a variety of forms such as brand, trademark, patented technology and other investment. 3.0 Reasons for wholly-owned subsidiaries When a company enters the international market, they do not know whether the selected entry mode is the optimal. They make decision and select an entry mode according to various factors. More and more companies now select wholly-owned subsidiaries when they enter the target country. For example, company with internal funds, or low leverage, are more likely to choose wholly-owned subsidiaries while they need to raise investment. (Klaus Meyer Saul Estrin, 1998. p.9). There are several reasons: firstly, technical content and differentiation in their products are so high. Once other companies master technology, they would lose their competitive advantages. So they select wholly-owned subsidiaries in order to avoid these assets and technology used and obtained by competitors. Secondly, products are difficult to imitate by competitors. They can not b e replaced, so the company does not regard to market share when they plan to enter the target countries. Thirdly, their products are scarce in target countries, and they are easily accepted and applied properly once they enter in. they do not need to rely on local sales channels and political relations. On the other hand, wholly-owned subsidiary is better than joint venture. Firstly, setting-up wholly-owned subsidiaries can help companies retain more easily technology and knowledge to increase corporate brand value. Secondly, setting-up wholly-owned subsidiaries can establish good mechanisms for operational control, handling disputes and optimizing resources to enhance the marketing control. For example, American and Japanese manufacturing companies, financial services companies and tourism companies set up wholly-owned subsidiaries can help in Australia. When they chose Australia as the target country, they analyzed all kinds of factors, and finally they took full advantages in the service and quality, the original brand and trademark, to establish wholly-owned subsidiaries. The subsidiary has the same business model a nd service methods with parent company. Relative advantages and disadvantages of the JVC versus the wholly-owned subsidiary When companies enter the international market, they are facing a very important decision-making. That is they enter the target market in which appropriate entry model. The following will discuss and analyze the advantages and disadvantages of two modes. Table 1 advantages and disadvantages of the JVC versus wholly-owned subsidiary Wholly-owned subsidiaries JVCs Control right High Low Trade Secrets Remain Known by others Unified strategic actions High Low Profits received High Low Risk High low Resources Cost High Low Cultural Differences High Low Limited market size High Low Exit barriers High low 4.0 Advantages and disadvantages of the JVC versus the wholly-owned subsidiary 4.1 Advantages of the JVC versus the wholly-owned subsidiary 4.1.1 Cultural Differences Social and cultural factors have a very important effect on international market entry mode, and it is mainly on the cultural differences between the home country and host country. The cultural value pattern may strengthen the relative importance of one of these values over the other one. (Piotr, Agnieszka Krystyna, 2008, p.227). The cultural differences are from language, values, life and work patterns, management and business model. If the cultural differences are obvious, the home country needs to spend more to adapt to cultural distance. In a wholly owned subsidiary, all senior managers come from the home country. They have the same cultural background and the same management philosophy, the same way of thinking and behavior patterns. When they consider the strategic objectives and strategic interests, they take the parent companys strategic objectives and long-term direction as goals. So cultural differences and cultural conflicts could be avoided in management. While in the joint venture company, managers and employees come from different countries with different cultural backgrounds, they have different values, different management attitudes and different operational practices. Unavoidable conflict happens as long as they work together. The stronger partner usually represents their economic achievements, so at rules, which are proposed by globalization and which would become an assumption not only for development of universal market, but also for standards of appropriate cultural behavior that would be suitable for representatives of all cultures. (Hofstede, G. 2001).And this cultural differences and cultural conflicts has been between partners from the beginning of joint venture, discussing cooperation, deciding to cooperate, establishing joint ventures to co-management and co -operation. 4.1.2 Control right Parent company participates in the management and decision-making, according to the Articles of Association, because they are the controlling shareholder of wholly-owned subsidiaries. All of these companies would benefit from a framework for decision making to determine if entry into this market is feasible for them. (Dennis Chwen, 2002, p.332).The principal leaders are appointed by the parent company, and their appointment, assessment, rewards and punishments are done by parent company. On the other hand, the parent company should regulate the business development plan, the orientation of investment and management activities, while the wholly-owned subsidiaries should formulate or revise their own development strategies and recent planning under the guidance of parent company. On the third, the parent company should supervise operating conditions and asset quality in order to security, value-added and profit of invested assets. At the same time, wholly-owned subsidiaries should rep ort the financial condition and ensure the authenticity and accuracy of the provided information of the production, management and financial operations. The company can accept the common control when they select the entry mode of Joint ventures, and they will find the right partner and selecting lower ownership. Joint ventures companies could not control the company because they are in minority equity position. They could not control the management and operation, and they could not control the productions sales and t infringement of copyright and paten. It is hard to find a reasonable partner who is fully meet the conditions. On the other hand, limited resources could not be used rationally because of contention for control right. The lack of resources are caused scattered resources and new contention for resources started, again and again, leading to a vicious cycle. Finally, they lost their core competitiveness. This will cause instability of the joint venture, which ultimately lead to instability of the dissolution of the joint venture. JVCs Wholly-owned subsidiaries High control right High stockholding Low control right Low stockholding Table 2 the control right and stockholding 4.1.3 Protection of commercial secrets Wholly-owned subsidiary have large advantage in trademarks, and other technology to prevent meddle in its technical and business secrets, protection of basic monopoly position. Running a business of wholly owned subsidiary can be a simple assembly or complex manufacturing activities, and they have total control-right. The company could completely control the entire management and sales, production and promotion. They could independently dispose profits, and they can protect technology and commercial secrets. For the joint venture company, the local partners contributions are often the local knowledge, local government relations, market share, sales organizations and customer groups, which are the knowledge and understanding of environmental conditions, while foreign partners contributions are typically including technology, management and international support. For example, Australian companies established joints venture with China or India, they increased business investment, as well as provided a number of high value-added products and technologies. Therefore, it is possible that technical secrets and commercial secrets are lost to the partner, and develop into the competitors. 4.1.4 Higher returns In the long term strategic objectives, parent companies pursue to maximize the total value of foreign market, and they speed up the penetration and more control to put effectively wholly-owned subsidiaries into global system. Setting up wholly-owned subsidiaries could get a full return as the increasing experience overseas, fully using companys abilities and cultivating international competitive advantage. A firms return on capital is increasing its industrys state of demand, so it can takes advantage of favorable economic conditions.( Jose M. Pleth-Dujowich, 2008, p.2). Wholly-owned subsidiaries could introduce more advanced technology and equipment and management methods to produce highly competitive products. And parent companies adjust business strategy according to business activities to obtain the overall maximum benefit. In addition, the profits and other legitimate rights and interests which foreign investors obtained after investment in the host country are protected by the laws of the host. The legitimate profit and other lawful income can be remitted back to the home countries. On the other hand, wholly-owned subsidiaries may enjoy tax reduction or exemption preferential treatment in accordance with the provisions of the host country tax revenue. Relatively speaking, Joint venture companies put lower investment, and therefore, they get back low control right and lower return. The home countries are mainly investment of technology and capital, as well as the training on production and management of local staff to get successful conversion on technology and knowledge. Joint venture companies must be in win-win state. That means the return of each joint venture partner is larger and enough, if they are in win-win state so as to work hard for the next success. If a companys return is not in the win-win state, which shows one investment is failure and maybe the two investments are failure. the joint venture partners could not accept the strategic mistake and they should restructure or abandon the joint venture. The lower risk means lower profit for the joint venture companies, especially when productions of a joint venture company are for export, the profit of return will not be very high and even less. 4.2 Disadvantages of the JVC versus the wholly-owned subsidiary 4.2.1 Operational risks Wholly-owned subsidiaries have higher operational risks than JVCs due to uncertain factors in operation. There are some problems in the management of wholly-owned subsidiaries, such as imperfect governance structure, inadequate organizational structure, and inappropriate personnel selection. All these problems could cause wrong decisions, collusion, and low efficiency. On the one hand, subsidiaries engaged in related transactions or matters beyond approval authority or the scope of business, which might result in investment failures, litigation and loss of assets. On the other hand, the elected directors, managers and chief accountants and other senior managers can not plenipotentiary the parent company and they did not make strategies and consider the interests from the perspective of the parent company, and these would result in incorrect formulation and implementation of accounting methods and inaccurate information on the consolidated financial statements. The inaccurate informat ion and methods would bring out high risk on investors, and the company and investors would make decision-making mistakes and face to legal proceedings and other aspects of risks. The joint venture company has generally no problems above. On the one hand, the home country needs to learn and adapt to local environmental conditions to better understand the host countrys economic, political, social, cultural, etc., so as to help investors make the right decisions. They can absorb partners business management skills, experienced business and promotion channel to changes in demand and market share. Nippa1, Beechler and Klossek (2007) studied IJV success to find IJV regard to the foreign parent-local parent fit in. On the other hand, every decision-making need to be recognized by both home and host country managers. Once one partner that the other one harms the interests of the joint venture resulting in damage to the company, they would make recommendations to board of directors in order to improve co-operation. The two sides are fighting for the maximizing interests to avoid operational risks. 4.2.2 Higher opportunity cost Wholly owned company needs to develop their own knowledge and capacity, develop new sales channels and advertising channels to operate effectively under the host environment. For example, sales representatives need to look for good advertisers, and communicate with the advertising and coordination. Finding a good advertiser needs time and money, because advertisers are producers of goods and services who are interested in selling their products to customers and post ads on the media support. (Claude, Carole Bruno,2009, p.5). So the home country needs to go through best efforts to develop new business, and achieve the certain level in the strategic mode of a wholly owned subsidiary. They have to pass a long-term cultivation to get new business skills and required knowledge, so there is a higher opportunity cost. Joint venture company has low opportunity cost. They can more easily access the local market knowledge, understanding competitors and the local government policy from the partners. Companies develop network relationships with important customers, suppliers that the local business partners possessed through mutual commitments and learning.(Lee, Jun and Johanson, 2006,p.62). The Joint venture partners can take advantage of a mature marketing network, branding, economic relations, political status, consumer preferences, etc. and they are easily accepted by the host country because of the participation of local enterprises. 4.2.3 High input costs and high risk Establishing wholly-owned subsidiary, the parent company would face new challenges in strategic planning, marketing strategy, organizational design, and resource allocation, especially in financial management and internal control and other aspects. The parent company invests greatly on capital and resources for wholly-owned subsidiary, because the parent company pays the total investment in the host country, so it is extremely risky. The wholly-owned subsidiary has more affected by environmental uncertainties and greater risk. All the capital investment results in difficult changes in the capital, and further results in assets sunk costs. The full amount of capital investment and sunk costs would limit the strategic flexibility and increase the investment risk. At the meantime, large-scale investment of resources will lead to high switching costs, which in turn generates a high risk. So the higher control right, the more capital investment and the higher risk. But the host countries like wholly-owned subsidiaries, because they want to attract foreign investment without their own capital, and they increases tax revenues without the business risk. There is smaller capital and human capital investment for joint venture companies, and relatively speaking, the risk is lower. Risks should be taken to entering international market. Most companies decided to establish joint venture with the local business, because they want to reduce the risk of entering new markets. So they are looking for joint venture partners who are operating related product lines and have a good understanding of local markets. The foreign parent and the local company combined their resources so as to create competitive advantages and create dominant in marke. (Contractor and Lorange, 2002). Firstly the foreign partners started the cooperation from simple sales and marketing operations to a further risk reduction measures. Secondly, they can increase product sales. Finally, the foreign partners can improve or re-design products in order to better adapt to the local market and make large-scale investment. 4.2.4 Relatively large political risk The establishment of a wholly owned subsidiary has very stringent requirements for the host countrys political environment and political stability. The parent company can set up wholly owned subsidiary when the target country is under the situation of political stability, sound legal system, liberal investment policies, and exchange rate stability. In addition, the profits and other legitimate rights and interests which foreign investors obtained after investment in the host country are protected by the laws of the host. The legitimate profit and other lawful income can be remitted back to the home countries. On the contrary, the wholly owned subsidiary would be significant losses if the host country has political instability and investment policies and investment environment get some changes, which might result in the dissolution of wholly owned subsidiary. Joint venture companies get supported by the host governments. For the host countries, on the one hand, Joint venture companies can bring a number of high value-added products and technologies, and new management style. On the other hand, the local companies provide local government relations, market share, sales organizations and customer groups, and they could not lost their control right and equity. While for the home countries, JVCs can reduce the risk of operation and politics in different countries, regions and industries. They could get the support and cooperation on the tax barriers and preferential policies. 4.2.5 Disadvantage of exit For the wholly owned subsidiary, the parent company has to bear all the resources and costs, including costs of human resources, employment, labor costs, the investment of technical support, sales channel development and advertising costs and so on. They have high switching costs. Serious losses would be resulted in if they exit the target countries for some reason. For example, political situation of the host country has undergone drastic changes, and the wholly owned subsidiary can not maintain their normal production and operation, so the parent company had to close wholly owned subsidiary. The parent company may not fully recover the investment cost before they exit the host country, without mention profit. So it is very obvious disadvantage of exit. The joint venture companies are easier to end. JVCs entered the host country with lower cost of investment and some were into target country only with technology. They could end relationship of cooperation and exit target country when political environment changed and economic deterioration was serious. And they end the relationship with lower cost. On the other hand, they can terminate the agreements when market conditions or the business itself have also changed with lower price or cost 5.0 Conclusion Entering the international market is that a business participates in global market competition and international business development with capital, products, technologies, services and policy. The home countries should select the right entry mode for the international strategy and they should clear their own objectives firstly to choose entry mode. Entry mode provides information about the consequences of enter international relating shifts in market demand to changes in the equilibrium number of firms. (Timothy and Peter, 2008, p.978). Two of them were discussed in the report: international Joint Venture Companies (JVCs) and wholly-owned subsidiaries. Different entry mode means different control right. Enterprises should elect the appropriate entry mode in understanding various factors. The factors are including Unified strategic actions, international experience, and Exit barriers, economies of scale, culture, Control right, Profits received, Trade Secrets, market size and market g rowth, Limited market size, risk and so on. Compared with JVCs, wholly-owned subsidiaries has advantages in cultural differences, control right, protection of commercial secrets and higher returns. On the other hand, wholly-owned subsidiaries have some disadvantages versus JVCs. In the long term strategic objectives, parent companies pursue to maximize the total value of foreign market, and they speed up the penetration and more control to put effectively wholly-owned subsidiaries into global system. While, as for the joint venture, the local joint venture partners contributions are local knowledge, local government relations, market share, sales and customer groups because they have well-known about the local market, culture and knowledge and the understanding of economic environment. The foreign partner invested in technology, management and international support. This combination can reduce opportunity cost and switching costs to have clear business and promotion objectives and win the market share. However, there is no general optimal entry mode when enterprises enter the international market, because the international economic environment is perplexing and political environment is complex. The parent companies should select the reasonable entry mode acc ording to their own resources and strategic objectives and strategic policy.