United States Constitution and Progressive Movement

What, in your opinion, were the key principles of the Progressive Movement? In your opinion, what were Progressivism’s most significant successes and failings? Can the First World War be regarded as a particularly Progressive conflict, or did it derail the Progressive Movement—or are both of these statements true? What, in your opinion, were the key principles of the Progressive Movement? Characteristics of the Progressive Era include refining of the government, rebuilding, a concentration on family and education, segregation and womens suffrage. The key principles of the Progressive Movement concentrated on the need for production in all areas of society. The refining of the government to get rid of corruption was†¦show more content†¦World War 1 cannot be regarded as a particularly Progressive conflict. The Progressive Movement was a complex, and sometimes conflicting era. Some of the occurrences that took place promoted the growth of democracy. While at other times the Progressive movement encouraged that the roles of government should be assigned to professionals. The movement adopted some of the worst national problems of its time, but it ignored the widespread problem of racism which worsens racial injustices. Even though Afro-Americans fought in the war and were as stated in ou r text book, â€Å"one of the best examples was the African American pilots, the famed Tuskegee airmen, who had participated in the segregation protest. In total, the 332nd Fighter Group flew 15,000 sorties and shot down more than 200 German aircraft (Moye, 2010). However, while these men were willing to die for the country, they were not eligible for many of the honors for their service.† (Bowles, 2011) Reference Bowles, M. (2011). American history 1865–present: End of isolation. San Diego, CA: Bridgepoint Education, Inc. (2002). The progressive era [Television series episode]. In America in the 20th Century. New York, NY: Films for the Humanities Sciences. Retrieved fromShow MoreRelatedProgressive Era Essay1701 Words   |  7 PagesThe Progressive Era Have you ever thought about the Progressive Era and the impact our amendments have on it, or the impact it has on our amendments? The sixteenth, seventeenth, eighteenth, and nineteenth show great examples of the Progressive Era. The sixteenth shows the political and social change just like the eighteenth amendment . The seventeenth amendment was the outgrowth of the progressive era, leaving the nineteenth amendment to be the political corruption and social change of theRead MoreThe Progressive Movement Of The United States982 Words   |  4 PagesThe Progressive Movement The rapid industrialization of United States in the late part of the 19th Century challenged the political, economic and judicial system in every possible way. 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Many progressives believed that these changes marked the end of the old order and invited the beginning of a new era fit for the industrial age. Others believed that these changes marked a necessity for improvement rather thanRead MoreThe Countercultures: Once Pooh-poohed, Now Revered1275 Words   |  6 PagesEnglishmen began to migrate to Pennsylvania that Native American and Pennsylvanian ties were broken. Although that progressive step forward of the counterculture, Quakerism, was neutralized, remnants of their beliefs were kept and ingrained into the United States of America’s own set of core values. This is especially evident in the United States’s first governmental document, The United States Declaration of Independence. Found in the Preamble, the line â€Å"We hold these truths to be self-evident, that all

Ever thought youd see car parts transformed into...

Ever thought youd see car parts transformed into jewellery? Or clothing? Shoes? Eye wear? Well that’s exactly what the Lexus Fashion Workshop did. The Lexus CT Hybrid is a gorgeous, sleek car. Which is also 90% recyclable, so Lexus decided to dismantle a Lexus CT Hybrid and bring in four fashion designers, and see how they would use pieces of the car, and up cycle them into amazing bits of work. Fashion designer John Patrick, used floor mats made from plant-based plastic, sustainable sound-dampening material, wire harness, leather seat covers and cargo covers, to create a stunning grey trench coat, a fabulous pair of shorts, and a simple clutch bag, and named it Nomadic Sanctuary. John Patrick is a interesting fashion designer who†¦show more content†¦The Environmental Crown of Virtue was created by Moss Lipow using transmission started and exhaust manifold gasket, to create a fascinating, unique eye piece, which has instead of 2 lenses has four and does not only rest upon the ears, but has a head piece connected. Moss Lipow realized his destiny to be an eye wear designer in his teens when he discovered he needed prescription glasses, although he actually studied film before finally settling on his career as an eye wear designer. One of his designs, framed in ostrich and alligator leather was priced at $3,800 and has become one of the most expensive pairs of sunglasses in the world, he also claims to have the largest collection of vintage 20th century eye wear in the world, with a collection of over 3,000 different frames. Finally, Alejandro Ingelmo, shoe designer created The Lunar shoe. Using the armrest leather trim, tire tread and the clear plastic tubing used for wiper fluid, to create an out of this world pair of shoes. Black and silver and absolutely stunning, these shoes where more than a pair of well designed shoes, they were a piece of art. Alejandro Ingelmo followed in his great GrandfathersShow MoreRelatedMaybelline1247 Words   |  5 PagesIndia. Now HUL (Hindustan Unilever Limited) has about 110 salons all over India providing beauty services. Lakme has been ranked as 47th most trusted brand in India by  The Brand Trust Report[2]  The company is the title sponsor for  Lakme Fashion Week  (LFW) a bi-annual fashion event which takes place in Mumbai.[3] Maybelline The Maybelline Company was created by lanaya New York chemist T.L. Williams in 1915. Williams, in his early 30s noticed his younger sister applying a mixture of  Vaseline  andRead MoreEmotion Detection Using Sobel Filtering And Retrieving With Sparse Code Words2097 Words   |  9 Pagesetc.To improve content based image retrieval we use attribute enhanced sparse codewords to retrieve similar images from the database.To evaluate the performance of these methods, we conduct extensive experiments on separate public datasets named LFW. These datasets contain faces taken in unconstrained environment. To sum up the contribution of this work, First, it takes an image, then by skin color segmentation, it detects human skin color, then it detect human face. Then it separates the eyesRead MoreThe Family And Medical Leave Act2286 Words   |  10 PagesOn the other hand, there have been some negative feedback for those employees who do not request FMLA. In the medical standpoint of FMLA, issues have arrived due to the lack of communication between employee and employer. Examples such as Burnett v. LFW, Inc., can shows these issues of communication that could interfere when it comes for leave when taking care of a child. Burnett v. LWF, Inc. to explain how an employer’s responsibility to undergo any eligibility for FMLA leave. A lawsuit was created

Agile Project Management in Construction

Question: Discuss about the Agile Project Management in Construction. Answer: Introduction The paper discusses on the agile approaches to the concepts of project management as developed within construction industry. The agile methodology consists of various methods as well as tool, which are used to perform the construction project that will support within mission in order to pursue values as well as principles (Kerzner 2013). There are two concepts in the agile methodology such as adaption to change as well as collaboration among people. This particular methodology uses interactive process, which can help the customers to describe their requirements (Burke 2013). It is appropriate for complex construction projects where it is critical to detail the products in advance. Within the construction project, large sums of money as well as time are the challenges. As the market is changing, therefore the construction business requires taking countermeasures to keep up. Alotaibi and Mafimisebi (2016) stated that creation of flexible as well as adaptive way to carry on with plan as well as design phase can make communication between various actors within the project. It results into accurate prototype as well as design. Kumar and McArthur (2015) argued that the prototype with different errors before the production sets up will lesser the risks for costly changes at the phase of production. It is cheaper as well as easier to make probable changes in initial stages of project work. Agile project management in the construction industry Garel (2013) suggested that agile methodologies have developed in various types of construction projects. They are various advantages the typical methods used in the project management. There are various ways to improve as well as streamline the design phase of the construction projects. The paper investigates on the approaches of agile project management that can contribute to mission to develop efficient design phase of the stadium rail project, Australia. This construction of stadium rail project will consist of station construction as well as associated rail infrastructure. The project goal of stadium rail project is to make the public transport infrastructure at the site that will facilitate up to 28,000 passengers in order to leave new Perth Stadium in an hour of event. It will deliver in the year 2017 (Projectconnect.com.au 2015). Construction industry has seen huge changes in both technologies as well as methodologies. There is a requirement to increase construction speed as well as methods efficiency, current agile methods are incorporated. The project work is presently in the system stage in the design phase. Johansson (2013) suggested that the techniques to improve efficiency as well as reliability help to develop construction projects. Kumar and McArthur (2015) stated the advantages of agile project management within the construction industry. In the current era, construction scheduling, planning as well as process of execution would be detailed as well as robust in order to avoid the project issues as well as delays. Apart from the cost of materials, most significant within the construction project is labor. The cost of labor within the construction project increases from baseline plan when there is occurrence of delays. Serrador and Pinto (2015) stated that in order to avoid the project delays, right workers are needed at right location with right materials as well as tools with perfect work information. Project delay as well as cost overrun is resulted from not having proper materials on hand at perfect time (Leach 2014). It occurs within the construction project due to supplier backlogs, delay in shipping, restrictions on funding and others. Padalkar and Gopinath (2016) argued that the project delay occurs from having sufficient work instructions on hand at accurate time. It results from incomplete design, documentation, delay in making of decisions as well as change in scope. Delay from lack of labor occurs due to incapability in order to discover right trades. There is also challenge of coor dination among the workers that can cause delay in the project work (Liu, Wang and Wilkinson 2016). There is requirement of storage as well as maintenance place of the stadium construction project such that the public transport is not affected. It is critical in order to generate entire coordination work efficiently in order to avoid any project complications (Chapman 2016). It is also critical not to disturb the traffic. Within the construction projects, delay results into outworker claims when responsibility begins to identify. Alotaibi and Mafimisebi (2016) demonstrated that the construction projects are considered, as poor candidates for agile approach, as they are in order within nature as well as modification in the projects are classy move added down the lifecycle. For the areas of construction projects, good practices led to increase efficiency of the project (Low 2013). The good practices are regular delivery of product and services to customers and proper planning of needs to be implemented. Mao et al. (2016) stated that the online platforms are used by the organization to run the project, set of fixed deadlines, members of project team as well as highest waste reduction. The good practices are identified with exemption of cyclic deliveries to consumer that are only suitable for the construction projects (Love et al. 2015). Regular meetings among people are involved within the project, which allow better control on the progress of project as well as efficient managing of resources concerned within the project. As delay in the project work as well as over control of the budgeted cost are the main and critical issues in the construction work, therefore agile methodology helps to handle proper materials on hand at perfect time (Serrador and Pinto 2015). It occurs within the construction project due to trader backlogs, interruption in process of shipping, limitations on funding on the construction project plans. Agile methodologies are based in the iterations as an alternative of classical methodologies that decide to do complete development as well as bring the product to the consumer when it is finally ended (Kumar and McArthur 2015). The maximum asset of agile method is the adaptability as well as opportunity of change throughout the lifetime of project. Within the use of agile methodology approach, outsystems methodology follows its principles. The users make evaluations to the progresses. In order to perform the project based on the outsystems methodology, there are concepts to take into considerations such as project backlog, budget, sprint as well as timeline (Alotaibi and Mafimisebi 2016). As per this methodology, all the required collection as well as analysis, project monitoring as well as testing need the participation of the project team members to conduct the work. Appropriate correspondence channel is required for the development venture, for example, up close and personal corr espondence (Liu, Wang and Wilkinson 2016). The development venture is worked around propelled people. Appropriate support from the administration group makes the work simpler. In the construction project of stadium rail project, Australia, it is possible to think the pre-design, design as well as specific construction phases independently. In the pre-design phase of the construction project, there are some initial issues such as development, planning, time as well as cost. There is complexity in the pre-design phase. Serrador and Pinto (2015) demonstrated that when the agile principles are applicable within pre-design phase, three criteria are considered to reduce order of validity. Agile principles are used implicitly or explicitly. Problems are identified in which agile principles are provided a solution. Those principles are appropriate, based on general knowledge related to pre-design phase. Mao et al. (2016) stated that project design is intermediate phase where a concept is produced at pre-design phase will expand as well as change into solutions in order to guide construction, maintenance as well as operations of the stadium rail project. Two main i ssues are emerged into the project plan such as incorporation between design as well as creation and self-motivated process of necessities capture (Chapman 2016). Process of design is extremely interactive as well as it requires changes in designing team to reflect on impacts of changes on the product. Padalkar and Gopinath (2016) opined that with use of the agile methodology, the highest priority of the construction industry is to satisfy the requirements of customer throughout continues delivery of valuable products as well as services. The principles of agile methodology are daily cooperation among the business people as well as workers involve in the project work. Kumar and McArthur (2015) stated that proper communication channel is required for the construction project such as face-to-face communication. The construction project is built around motivated individuals. Proper support from the management team makes the work easier (Serrador and Pinto 2015). Development projects are considered, as poor contender for agile approach, as they are all together inside nature and in addition alteration in the activities are classy move included down the lifecycle. Liu, Wang and Wilkinson (2016) stated that for the areas of development activities, great practices prompted to expand profi ciency of the work. The great practices are normal conveyance of item as well as administrations to clients and legitimate arranging of should be actualized. Keeping in mind the end goal to play out the project in light of the agile methodology, there are ideas to take into contemplations, for example, extend build-up, spending plan, sprint and additionally timetable (Love et al. 2015). According to this procedure, all the required accumulation and investigation, extend checking and additionally testing need the cooperation of the project colleagues to direct the work. Mao et al. (2016) opined that execution of project work using the agile methodology should result in completion of project work on time as well as under the estimated budget. There are no safety issues as well as no findings from different mistake as well as authoritarian agencies (Serrador and Pinto 2015). Integrated team approach in agile mindset is resulted into higher than standard productivity for the construction project. Design is transitional phase where a thought is produced at pre-design phase will enlarge as well as modify into solutions in order to direct construction, continuance as well as operations of the stadium rail project. () argued that both cost as well as schedule risk are accepted by the construction industry for the purpose of construction portion of the work (Alotaibi and Mafimisebi 2016). Participation of the participants such as engineers, construction firms, operational as well as leadership team of construction is required. Shared as well as communicated vision helps to keep the project work focused (Kerzner 2013). Agile manifesto requires the project team members to carry responsibility in order to make modifications as well as best process for particular project work (Serrador and Pinto 2015). The standards of agile technique are every day collaboration among the specialists and in addition, laborers include in the construction project plan work. Conclusion It is concluded that the agile methodology in the project management improves value delivery within the construction industry. The enterprise structure as well as project work enables react to changes as well as prospect that such change affords to raise value delivery. The construction projects are complex by nature as well as it is required for human resources to manage its complexity in such a manner that it can deliver required outcomes. Agile methodologies are applied in the project plan, which allows a substantial reduction of the project duration as well as budgeted cost. When agile methodology is applied in the construction project plan, then it becomes a major asset for them as well as for the project participants. Support of the members, for example, engineers, development firms, operational and also administration group of development is required. Shared and in addition conveyed vision keeps the venture work centered. Agile manifesto requires the venture colleagues to conv ey obligation with a specific end goal to make adjustments and additionally best process for specific venture work. According to this agile philosophy, all the required gathering and in addition investigation, extend observing and additionally testing need the support of the venture colleagues to direct the work. Proper correspondence channel is required for the advancement wander, for instance, very close correspondence. The improvement wander is worked around impelled individuals. Proper support from the organization bunch makes the work easier. References Alotaibi, A.B. and Mafimisebi, O.P., 2016. Project Management Practice: Redefining Theoretical Challenges in the 21st Century.Project Management,7(1). Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Chapman, R.J., 2016. A framework for examining the dimensions and characteristics of complexity inherent within rail megaprojects.International Journal of Project Management,34(6), pp.937-956. Garel, G., 2013. A history of project management models: From pre-models to the standard models.International Journal of Project Management,31(5), pp.663-669. Johansson, M.Y., 2015. Agile project management in the construction industry.PDF). KTH. se. Royal Institute of Technology. Retrieved,11. Kerzner, H.R., 2013.Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Kumar, S.S. and McArthur, J.J., 2015. Streamlining Building Information Model Creation Using Agile Project Management.WIT Transactions on The Built Environment,149, pp.229-240. Leach, L.P., 2014.Critical chain project management. Artech House. Liu, T., Wang, Y. and Wilkinson, S., 2016. Identifying critical factors affecting the effectiveness and efficiency of tendering processes in PublicPrivate Partnerships (PPPs): A comparative analysis of Australia and China.International Journal of Project Management,34(4), pp.701-716. Love, P.E., Liu, J., Matthews, J., Sing, C.P. and Smith, J., 2015. Future proofing PPPs: Life-cycle performance measurement and Building Information Modelling.Automation in Construction,56, pp.26-35. Low, N., 2013.Transforming urban transport: the ethics, politics and practices of sustainable mobility. Routledge. Mao, P., Li, S., Ye, K. and Cai, H., 2016. A field theory based model for identifying the effect of organizational structure on the formation of organizational culture in construction projects.KSCE Journal of Civil Engineering, pp.1-9. Padalkar, M. and Gopinath, S., 2016. Six decades of project management research: Thematic trends and future opportunities.International Journal of Project Management,34(7), pp.1305-1321. Projectconnect.com.au, 2015.Stadium Rail Project | Project Opportunity. [online] Projectconnect.com.au. Available at: https://www.projectconnect.com.au/Project_Details.asp?PID=392 [Accessed 4 Jan. 2017]. Serrador, P. and Pinto, J.K., 2015. Does Agile work?A quantitative analysis of agile project success.International Journal of Project Management,33(5), pp.1040-1051. Walker, A., 2015.Project management in construction. John Wiley Sons.

Joint Venture for Chevron Corporation (IOCs) and Texaco (NOCs)

Question: Describe about joint venture for chevron corporation (IOCs) and ttexaco (NOCs)? Answer: 1. Introduction In the contemporary economic scenario, economists are believed that entering into the joint venture is important to attain success of all oil and gas companies. Entering into an alliance not only concentrates on the inimitable challenges they face in recent times, but also it becomes effectual to sustain in this competitive landscape in the longer term (Mo, 2010). There are several studies that concluded that well-structured as well as efficient joint ventures bring about business-related success which ultimately fulfils the mutual interest. There are also several studies that explained such alliances produce new opportunities for both the participant. However, they also mentioned that in order to attain this achievement both the participant need to make sure that they have the accurate conformity in place (Bartek, 2014). This study has provided specific information regarding the trend of joint venture with proper analysis for the collaboration of NOCs with IOCs. Here, the joint vent ure between Texaco (NOC) and Chevron Corporation (IOC) has been selected to assess the trend of the industry. 1.1 Purpose of selection of the joint venture between Texaco (NOC) and Chevron Corporation (IOC): The merger of both Texaco (NOC) and Chevron Corporation (IOC) makes the business more strong in producing more energy and power. Aiming to attain more acquisition over the existing natural energy forces it appears to be a bold step. But seems to have some significant reasons. Reason 1: Leading the Energy Business Emergence of other international energy companies, both Texaco (NOC) and Chevron Corporation (IOC) seem to be loosing its strong hold over the market of energy. It also was hampering the the business This joint venture brings opportunity to capture the market and lord over it. At the same time, it leads to the underwater exploration in Brazil, Gulf of Mexico and other place across the globe. Control over North America and North Sea is literally strenthened. At the same time, the power and gasifiction business of both Texaco (NOC) and Chevron Corporation (IOC) is expected to be profited by this marger. Tang (2013) has oberved that Texaco has been sufering from debt in the power business which expects to get fuelled. It also expects to be helpful for overlording on this business. Reason 2: Cost cutting Thi significant combining casts its impact on saving of around $700 million which can be used for more exploration and more escavation works (Phx.corporate-ir.net, 2015). Combining of the workforce is literally significant to bring more hold in the business. Both the companies were suffering from huge financial strengencies which may come to an end. The merger can result of slashing down the costs to at least $1.2 billion. This creates an imense effect of developemnt. After completion of merger, the new company reserved more than $11.2 billion barrels of oil, $77 billion assets and $2.7 million daily productions (Phx.corporate-ir.net, 2015). Reason 3: Technical Advancement In the world, the largest National Oil companies are Saudi Aramco, Kuwait Petroleum Corporation, Statoil, Malaysian National Oil Companies, etc (Fedi, 2013). The entire companies of NOCs like Texaco have low technical capabilities rather than the International Oil Companies. With this merger there will be an extensive technical development for both the companies. A broader advantage in the technology is expected to bring an immense output for this venture. In order to access the reserve resources in terms of attaining the competencies of technicality through collaborations is really big deal. Reason 4: Stakeholder Approaches The relationship with stakeholders of both Texaco (NOC) and Chevron Corporation (IOC) for last few years was not so much affuent. This seems to have been creating problems for both of the organisations. But with this merger a legitimacy is expected to be retained. Folloing the rules of US Federal Trade Commission, this merger also brings respite for the stakeholders at the same time. 2. Critical Analysis of Drivers, benefits and the key issues about Joint Venture for Texaco and Cheveron 2.1 Drivers for Joint Venture for Texaco (NOC) and Chevron Corporation (IOC) in energy Sector Mo and Pe rez-Deisboeck (2011) argued that the joint venture between Texaco and Chevron take into consideration "an enterprise approaches". As per the CEO f Chevron, it supports them to operate in the lubricants market in addition to its Havoline as well as Delo brands in terms of trading in the international markets. Right at the same time, Moffett and Unruh (2007) rightly explained that with their Caltex international refining along with marketing joint venture, both the organization should shift quickly in fusing their alike cultures, without the disturbance of upstream action practiced in other megamergers. In the energy sector, Chevron Corporation faces challenges for decrease rate of resources regarding production and sales of oil and gas. After merger, Texaco received .77 percentage share of common stock of the Chevron Corporations. On the other hand, Texaco have resources but faces technological challenges in order to modify or increase activities of their own (Beamish, 2013). Joint venture will be the key process or strategy for both Texaco (NOC) and Chevron Corporation (IOC) because it allows partners in committing assets and equity. After joint venture, Texaco exchange the 18% premium ratio of their closing price of share. Apart from that, joint venture strategy also allows the partners in sharing their profits as well as loss regarding costs. According to Nisa Fitriati (2014), alliances of joint venture will allow the partners in identifying the prevalent condition and efficiency in business. On the other hand, exchange ratio represented the $64.87 share for Texaco and Chevron Corporation share more than $84.25 in the exchange ratio. Apart from that, joint venture improves the quality of relationship between two or more organization when they merger and acquisition their business each other. Figure 1: Graphical representation of joint venture survival (Source: Bartek, 2014, pp- 317) In order to improve the growth rate and make the resources available for business International Oil Companies have to collect more resources from the Texaco in energy sector. On the other hand, in order to improve the technology, National Oil Companies has to take advice from the Chevron Corporation (ChoiChangBeom, 2011). Therefore, the characteristic of strategic alliances such as constant bargaining, multiple decision-making centres, clashes of interests, etc helps in fulfilling their requirement and need. The management control system in Joint venture is also an effective method that helps the partners in managing their resources and share value in a substantial format. Polley (2013) suggested that Joint Venture has three main primary dimensions such as tightness, mechanisms and focus that are multidimensional and complex. According to Prescott and Swartz (2010), partners in joint venture are able to use any of the mechanisms for protecting their resources and share value with each others. In terms of joint venture between Texaco (NOC) and Chevron Corporation (IOC), the control management system properly managed several characteristics such as socialization practices, communications between the parent company, expatriate staffing, delegation of decision making responsibilities incentives of manager performance, etc. Apart from that, Reuvid, (2008) depicted transactional costs of joint venture explain the relationship and structure between the Texaco (NOC) and Chevron Corporation (IOC) hierarchically. 2.2 Benefits of Joint Venture for Texaco (NOCs) and Chevron Corporation (IOCs) Both the companies in energy sector Texaco and Chevron Corporation need for some aspect in order to protect challenges that currently faced. Tang (2013) argued that joint venture is one of the most useful as well as successful strategies that will allow the organizations or partners in achieving greater success on a specific project. Figure 2: Benefits of Joint venture (Source: DE HEK and MUKHERJEE, 2011, pp- 175) If the National Oil Companies joint venture with the International Oil Companies they can formed several benefits. These are Sharing Costs: It will be the key benefit when Texaco involved new trend of joint venture with the Chevron Corporation. Chevron Corporation share $84.25 cost in their closing stock and Texaco share $64.87 of their common stock. According to Twum (2013), joint venture allows the partners in participating or undertaking the venture without individuals. According to the business aspects of Texaco (NOC) and Chevron Corporation (IOC), joint venture trend allows them in sharing the revenues regarding research and development, distribution and management, administrative costs, supply costs, labor and management costs, etc significantly (DE HEK and MUKHERJEE, 2011). Thus, both the Texaco (NOC) and Chevron Corporation (IOC) can reduce large investment into project. Furthermore, sharing costs also allows both the Texaco (NOC) and Chevron Corporation (IOC) in reaching with per unit costs that may increase efficiency regarding larger production level. Sharing Assets: In order to improve the business in energy sector, Texaco has required technological resources that helps in producing and selling oil and gas more easily as well as capture the high market share. Texaco share $77 billion asset with the Chevron Corporation after joint venture. On the other hand, Chevron Corporation has required the hydrocarbon resources in order to protect competition. Therefore, involvement of joint venture trend allows both the Texaco (NOC) and Chevron Corporation (IOC) in sharing their collective intangible and tangible resources that pursue their common goals and objectives (Fedi, 2013). For example, joint venture allows the International Oil Companies in taking the hydrocarbons from Texaco and increases their resource level. On the other hand, Texaco will get the technological support from the Chevron Corporation and improve their production system as well as sales. Sharing Business Risks: Wu et al. (2013) presumed that joint venture allows the participants in sharing the risks regarding business for developing the new products or distribution system of the existing products. Apart from that, when the organization is expending their business there were several risks. Joint venture with the other companies allows in sharing the risks and decrease the potential challenges regarding business. From the point of view of both the Texaco (NOC) and Chevron Corporation (IOC), there were several risks in accessing resources such as technology, hydrocarbons, etc (Finger and Hoppe, 2014). When both the companies include joint venture trend within their business, they can light the possibilities of risks with the new investment. Asif and de Vries (2014) suggested that joint venture create enough revenue in order to make the development costs for participants. Sharing critical experience and expertise: Joint venture trend allows the participants the in sharing the critical experience as well as expertise of management with each other. Apart from that, joint venture allows in sharing the technological capabilities, industry knowledge and other necessitates in business sector. However, if the Texaco (NOC) and Chevron Corporation (IOC) joint venture with each other is considered, they can share the management experience and expertise as well as the technical aspects (Futter and Mo, 2009). For example, after joint venture Texaco is able to get information as well as strategies of Texaco for crossing the borders as well as increase the customer base worldwide. On the other hand, Chevron Corporation gets information about the raw materials and suppliers of hydrocarbons that much required for their business in terms of protecting the competition. Flexibility: The structure of joint venture offers maximum flexibilities in business through developing and creating the work relationship between partners. If both the Texaco (NOC) and Chevron Corporation (IOC) enter into trend of joint venture can involved an MA transaction for improving the management process during difficult and costly (Genders, 2013). In addition, the structure of joint venture allows the participants in undertaking the growth opportunities during the maintenance of respective business operation in both existing and identities. In accordance to Sivakunako, Buatama and Fongsuwan (2014), joint venture allows the companies in protecting their individuals profits as well as earning of a venture from the vices studies. From the point of view of accounting treatment, joint venture increase 50 percent more for the participants. Apart from that, joint venture increases the flow of profits, earnings, losses through the financial statements. 2.3 Potential Issues of Joint Venture Within business, joint venture create several benefits for the organization such as share the costs, resources, technology, financial treatment, experiences, expertise, etc. unlike the benefits, joint venture has several potential issues within business such as Lack of experience of joint venture: Law of Murphy is one of the key aspects and useful method when the participants come for joint venture first time. Lack of knowledge in joint venture structure may create difficulties and create potential risk in business (Gutterman, 2009). According to the joint venture trend of Texaco (NOC) and Chevron Corporation (IOC), they have to clear first about the structure and profit margin properly. Moreover, both Texaco (NOC) and Chevron Corporation (IOC) have to build trust with each other. Figure 3: Issues of Joint Venture (Source: ChoiChangBeom, 2011, pp- 169) Endless way of joint venture: It is the potential as well as key risk of joint venture in corporate sector. The structure of joint venture develops in a way that never be end. Therefore, after joint venture with the other company means, organization has to share their profits and resources for long time. It not only affects in their profitability but also affect in improving the business. Van Weert (2014) argued that joint venture is as similar as marriage. Once adopt joint venture then it will be long-term process and in a word it is endless process. Therefore, it is not easy to negotiate the deal. However, if the Texaco (NOC) and Chevron Corporation (IOC) joint venture then Chevron have to share the technological aspects as well as the managerial skills or experience with the Texaco. On the other hand, Texaco has to share resources like hydrocarbons to the Chevron. Fails to recognize the things as equal as partners: In terms of earning the fess, one party gets more rather than the other party. For example, if the Chevron joint venture with the Texaco, then they have to share most profits more according to their earning and they will be liable for the Texaco (Hiribarren, 2013). It not only affects profitability for Texaco but also make the liable to the Chevron. Unable to get regular financial update: When the two or more parties joint venture one of the participants takes charges for managing financial statement of the company. However, in order to run the business successfully, regular update is very much important as well as the key aspects of measuring the business. However, when the company joint venture, they cannot get regular update (Killing, 2013). They only received the financial update monthly. It may affect in the measuring of business. Conflict of Interest: It is also a major issue in joint venture. It has been majorly identifies that when the two or more company joint venture there are huge problems regarding conflict idea. For example, if Texaco (NOC) and Chevron Corporation (IOC) joint venture then they have to consider the for bringing each project. The participants are not allows to start one new project without permission or collaboration with each other (Lorrain, 2014). Therefore, conflict of interest may create difficultly in terms of making good relationship between the participants. 3. Recommendations for the joint venture of Texaco (NOC) and Chevron Corporation (IOC): Recommendation 1: Make simple agreement: Regarding recommendation for joint venture in terms of business process of Texaco (NOC) and Chevron Corporation (IOC), making simple agreement is required because both the companies enter into joint venture first time (Refer to appendix). Therefore, before starting the work, copyright begins need to be fixed. It can help in make easier the business process that down. Apart from that, making simple agreements, both Texaco (NOC) and Chevron Corporation (IOC) is able to increase flexibility as well as usability in working process. It has been majorly seen that participants misunderstood often about the working process of copyrights. Simple agreement can allow the participants in understanding the copyrights rules and regulations properly. Furthermore, most of cases it has been seen that absence of contract regarding copyrights automatically vests (Mar Benavides-Espinosa, 2012). Therefore, simple agreements creation for new joint venture may prote ct the absence of contract and defuse the confusion as well as intention of both participants. Recommendation 2: Establishment of clear protocols: The second recommendation is less important over first recommendation because in order to enter into joint venture making of agreement comes first and then come set of protocols. Regarding the joint venture between Texaco (NOC) and Chevron Corporation (IOC), need to establish the clear protocols such as particular activity regarding the aims and role of the business, activity in terms of success, adequate arrangements, etc. Apart from that, both parties should to discuss the activities of joint venture in their first instance (Mardikian PhD, 2009). At the board meeting, both parties have to submit the formal agreement of particular joint venture. Thus, both Texaco (NOC) and Chevron Corporation (IOC) can establish a string relationship between them and also can maintain the intellectual rearward, financial profitability, long lasting relationship, etc. 4. Conclusion This particular task concluded the factor of joint venture in business especially for the business of International Oil Companies and National Oil Companies in energy sector. The study introduces the reason of joint venture for both Texaco (NOC) and Chevron Corporation (IOC) in energy sector. Apart from that, analyst represented the potential drivers for joint venture regarding business of Texaco (NOC) and Chevron Corporation (IOC). Moreover, after identifying the drives about joint venture in respect to Texaco (NOC) and Chevron Corporation (IOC), analyst describes the key benefits of joint venture in business such as costs sharing, resource sharing, experience and expertise sharing, etc. joint venture is the most effective as well as efficient strategy in business for starting new business or promote the existing business. 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