Business Strategy Essay Example | Topics and Well Written Essays - 2000 words - 5

Business Strategy - Essay Example Ample opportunity has already past for the business houses to create proficient system, lining up with the evolving situation, so they can continue the changing occasions successfully. Primark has been a worldwide name of notoriety in the garments business utilitarian in Europe. It was in the time of 1969 that the principal store of this driving dress brand was initiated at Mary Street of Dublin in Ireland. The accomplishment of the principal store prompted foundation of four additional stores with in a year with in the outskirts of Greater Dublin. By 1971, the organization had in excess of 15 stores in Ireland. In 1974, the gathering extended to Great Britain with two high road stores in Derby and Bristol. Before the year's over 1984, the gathering had 44 stores, half of which were in Ireland and the other half in the United Kingdom. 1984 had been a surprising year for the planned dress gathering as it observes first different acquisitions by the gathering in lieu of five Woolworth stores (Primark, n.d.). An auxiliary of the Associated British Foods, Plc, Primark likewise have numerous different acquisitions, takeovers and mergers in its credit. In the year 1995, it gained BHS One-Up Discount Chain and Co-Op which additionally included Reading Property. Among other outstanding acquisitions by Primark incorporates that of Littlewoods and six stores from Allders. Aside from the quantity of stores being opened in the Ireland and United Kingdom, the organization wandered in to other European countries as well. In 2006, Primark opened its first store in Madrid (Plenilunio) of Spain. It moved to Netherlands (at Rotterdam) in the time of 2008 and this year it has additionally entered in to Portugal (Lisbon) and Germany (at Bremen). Statement of purpose of an organization characterizes the genuine saying of the association. Indeed, it underscores the very explanation of presence of the organization alongside its future game-plan. The strategic, vision and the goals of the organization additionally empowers the investors and other

Cafes Monte Case Essay Example for Free

Bistros Monte Case Essay The organization situated in Milan, Italy. It was found by Mario Salvetti as a producer and merchant of premium best espressos. The organization faces a hard choice that may influence their future. The organization needs to know whether they should continue working in a similar contributing. A significant gathering was there among the top administration team’s individuals to examine the fate of the organization. The company’s execution was acceptable in 2000. Benefit was appeared at the budget report. Giacomo Salvetti the CEO of the organization needs to conclude which to pick as the business methodology for the organization: 1) Keep working in the top notch espresso advertise. 2) Transfer to the private brands showcase. The present limit of the espresso creation in 2000 was 350,000 K/M , with included extra limit of 150,000K/M. The expense of the extra units was 6 billion liras. More realities about the productivity and the liquidity were required adjacent to the income and the benefit intend to measure vital other options and to help in settling on this choice. Changing was difficult to the CEO to acknowledge without an away from of the money related outcomes. The report was given by the advertising administrator indicated that the superior market is unstable. Then again, the private brands advertise is progressively steady. (Full limit at the cost of 8,800 liras). Cost is lower in the private market than the premium. The volume is depending of the quantity of retailers. ( Every extra retailer need at any rate 500,000 K/Y). The report was given by the assembling chief indicated that expenses are diverse in each measure of the volume and nature of beans. These expenses incorporate the expense of beans, work and fixed expense. The organization can spare 65% of selling costs, 75% of R&D expenses and half of authoritative expenses, in the event that they pick the private brands market.(Director of vital arranging). Private brands’ retailers will pay gradually 90 days rather than 30 days. (Money related official). I took the business cost as the present cost 8,800 liras. The majority of the costs are decay contrast with what they were in 2000 adjacent to likewise the benefit. Promoting costs were no longer there in light of the fact that the advertising rate got 0% in this volume of the private market. The explanation of having this decrease is the gross edge of the private market contrasting with the edge of the excellent market. Deals cost and cost in private market are not as much as what they are in the exceptional market. Incomes are not steady during the year. It looks shift from quarter to another. In the incomes, the retailers will pay in 90days (3months) timeframe as what it is in the private market. The money opining was half in the main month and 25% in next 2 months. Different costs were partitioned by the a year similarly. Variable and selling costs are appearing in page(5). I don’t prescribe the full change to private market. The benefit will be lower than what it is regardless of whether it is less unstable. There is no purpose behind the organization to lose its top notch showcase if the benefit is low, as well. I would bolster the opportunity of blending the premium and the private markets together, due to the benefit there. Bistros Monte Case. (2016, Apr 28).

Lamb The Gospel According to Biff, Christ’s Childhood Pal Chapter 11 Free Essays

string(101) he had it close by, he uncovered inside and pulled the dried newts he’d purchased from the old hag. Section 11 Since my break endeavor, I can’t get the holy messenger to leave the room by any stretch of the imagination. Not in any event, for his cherished Soap Opera Digest. (What's more, truly, when he left to acquire the first, it would have been a decent time to make my departure, however I wasn’t believing that way at that point, so chill out. We will compose a custom paper test on Sheep: The Gospel According to Biff, Christ’s Childhood Pal Chapter 11 or on the other hand any comparative point just for you Request Now ) Today I attempted to get him to present to me a guide. â€Å"Because nobody is going to know the spots I’m expounding on, that’s why,† I let him know. â€Å"You need me to write in this figure of speech so individuals will comprehend what I’m saying, at that point why utilize the names of spots that have been away for a large number of years? I need a map.† â€Å"No,† said the blessed messenger. â€Å"When I state the excursion was two months by camel, what will that intend to these individuals who can cross a sea in hours? I have to know present day distances.† â€Å"No,† said the holy messenger. (Did you realize that in a lodging they jolt the bedside light to the table, along these lines making it an incapable instrument of influence when attempting to bring a willful blessed messenger around in your mind? Figured you should realize that. Pity as well, it’s such a significant light.) â€Å"But by what means will I relate the courageous demonstrations of the lead celestial host Raziel in the event that I can’t tell the areas of his deeds? What, you need me to compose, ‘Oh, at that point some place for the most part to one side of the Great Wall that maggot Raziel appeared seeming as though hellfire considering he may have voyage a significant distance or not?’ Is that what you need? Or on the other hand would it be advisable for it to peruse, ‘Then, just a mile out of the port of Ptolemais, we were by and by graced with the sparkling superbness of the lead celestial host Raziel? Huh, what direction do you need it?† (I know what you’re thinking, that the holy messenger spared my life when Titus lost me the boat and that I ought to be all the more lenient toward him, isn't that so? That I shouldn’t attempt to control a poor animal who was given a self image yet no through and through freedom or limit with regards to innovative idea, correct? Alright, valid statement. Yet, do please recollect that the heavenly attendant just mediated for my benefit since Joshua was petitioning God for my salvage. What's more, do please recall that he could have spared us a great deal of trouble throughout the years on the off chance that he had helped us out more regularly. Also, if you don't mind don’t overlook that †in spite of the way that he is maybe the most attractive animal I’ve ever looked at †Raziel is a stone goof ball. In any case, the self image stroke worked.) â€Å"I’ll get you a map.† What's more, he did. Lamentably the attendant was just ready to discover a guide of the world furnished by an aircraft that accomplices with the lodging. So who realizes how precise it is. On this guide the following leg of our excursion is six inches in length and would cost thirty thousand Friendly Flyer Miles. I trust that clears things up. The trader’s name was Ahmad Mahadd Ubaidullaganji, yet he said we could call him Master. We called him Ahmad. He drove us through the city to a slope where his convoy was stayed outdoors. He claimed a hundred camels which he drove along the Silk Road, alongside twelve men, two goats, three ponies, and an amazingly simple lady named Kanuni. He took us to his tent, which was bigger than both the houses Joshua and I had experienced childhood in. We sat on rich floor coverings and Kanuni served us stuffed dates and wine from a pitcher molded like a mythical beast. â€Å"So, what does the Son of God need with my companion Balthasar?† Ahmad inquired. Before we could answer he grunted and giggled until his shoulders shook and he nearly spilled his wine. He had a round face with high cheekbones and limited bruised eyes that crinkled at the corners from a lot of chuckling and desert wind. â€Å"I’m sorry, my companions, yet I’ve never been within the sight of the child of a divine being previously. Which god is your dad, by the way?† â€Å"Well, the God,† I said. â€Å"Yep,† said Joshua. â€Å"That’s the one.† â€Å"And what is your God’s name?† â€Å"Dad,† said Josh. â€Å"We’re shouldn't state his name.† â€Å"Dad!† said Ahmad. â€Å"I love it.† He began snickering once more. â€Å"I realized you were Hebrews and weren’t permitted to state your God’s name, I simply needed to check whether you would. Father. That’s rich.† â€Å"I don’t intend to be rude,† I stated, â€Å"and we are surely appreciating the refreshments, however it’s getting late and you said you would take us to see Balthasar.† â€Å"And in fact I will. We leave in the morning.† â€Å"Leave for where?† Josh inquired. â€Å"Kabul, the city where Balthasar lives now.† I had never known about Kabul, and I detected that was not something to be thankful for. â€Å"And how far is Kabul?† â€Å"We ought to be there in under two months by camel,† Ahmad said. In the event that I knew, at that point what I know now, I may have stood and shouted, â€Å"Tarnation, man, that’s more than six inches and thirty thousand Friendly Flyer Miles!† But since I didn’t realize that at that point, what I said was â€Å"Shit.† â€Å"I will take you to Kabul,† said Ahmad, â€Å"but what would you be able to do to help pay your way?† â€Å"I know carpentry,† Joshua said. â€Å"My stepfather showed me how to fix a camel saddle.† â€Å"And you?† He took a gander at me. â€Å"What can you do?† I considered my experience a stonecutter, and promptly dismissed it. Furthermore, my preparation as a town bonehead, which I figured I could generally depend on, wasn’t going to help either. I had my newly discovered aptitude as a sex teacher, however by one way or another I didn’t think there’d be require that on a two-month trip with fourteen men and one simple lady. So what would I be able to do, what aptitude had I to delicate the way to Kabul? â€Å"If somebody in the troop croaks I’m an incredible mourner,† I said. â€Å"Want to hear a dirge?† Ahmad giggled until he shook, at that point called for Kanuni to present to him his travel bag. When he had it close by, he uncovered inside and pulled the dried newts he’d purchased from the old witch. You read Sheep: The Gospel According to Biff, Christ’s Childhood Pal Chapter 11 in classification Paper models â€Å"Here, you’ll be requiring these,† he said. Camels nibble. A camel will, for reasons unknown, spit on you, step you, kick you, roar, burp, and fart at you. They are difficult at their best, and surly past all conviction best case scenario. On the off chance that you incite them, they will chomp. In the event that you embed a got dried out land and water proficient elbow-somewhere down in a camel’s bum, he views himself as incited, doubly so if the methodology was performed while he was resting. Camels are shrewd to covertness. They nibble. â€Å"I can recuperate that,† Joshua stated, taking a gander at the tremendous tooth stamps on my brow. We were following Ahmad’s procession along the Silk Road, which was neither a street nor made of silk. It was, truth be told, a thin way through the rough cold good country desert of what is presently Syria into the low, aloof desert of what is currently Iraq. â€Å"He said sixty days by camel. Doesn’t that imply that we ought to ride, not walking?† â€Å"You’re missing your camel buddies, aren’t you?† Josh smiled, that nasty, Son-o’-God smile of his. Possibly it was only an ordinary smile. â€Å"I’m simply worn out. I was up a large portion of the late evening sneaking up on these guys.† â€Å"I know,† said Joshua. â€Å"I needed to get up at day break to fix one of the seats before we left. Ahmad’s devices leave something to be desired.† â€Å"You feel free to be the saint, Josh, simply disregard what I was doing throughout the night. I’m trying to say that we ought to get the opportunity to ride rather than walking.† â€Å"We will,† Josh said. â€Å"Just not now.† The men in the band were all riding, albeit a few of them, just as Kanuni, were on ponies. The camels were stacked down with incredible packs of iron apparatuses, powdered colors, and sandalwood headed for the Orient. At the primary good country desert spring we crossed, Ahmad exchanged the ponies for four additional camels, and Joshua and I were permitted to ride. Around evening time we ate with the remainder of the men, offering bubbled grain or bread to sesame glue, the odd piece of cheddar, squashed chickpeas and garlic, infrequently goat meat, and once in a while the dim blistering beverage we had found in Antioch (blended in with date sugar and beat with frothing goat’s milk and cinnamon at my recommendation). Ahmad ate alone in his tent, while all of us would feast under the open overhang that we developed to protect us from the most sweltering piece of the day. In the desert, the day gets hotter as it gets later, so the most sweltering piece of the day will be in the l ate evening, not long before dusk carries the blistering breezes to filter the last dampness from your skin. None of Ahmad’s men spoke Aramaic or Hebrew, yet they had enough utilitarian Latin and Greek to prod Joshua and me about any number of subjects, their top pick, obviously, being my activity as boss camel deconstipator. The men hailed from about six distinct terrains, numerous we had never known about. Some were as dark as Ethiopians, with high temples and long, agile appendages, while others were squat and bent-legged, with ground-breaking shoulders, high cheekbones, and long wispy mustaches like Ahmad’s. Not one of them was fat or powerless or moderate. Before we were seven days out of Antioch we made sense of that it just took a few men to think about and manage a troop of camels, so we were confounded at why somebody as sagacious as Ahmad would bring along such a significant number of unnecessary workers. â€Å"Bandits,† Ahmad stated, altering greetings

Nike and Reebok an Example by

Nike and Reebok by Expert Prof. Cecil | 13 Dec 2016 Portrayal of the Primary Industry of the fragment: Need paper test on NikeandReebok point? We will compose a custom article test explicitly for you Continue Nike and Reebok have a place with the athletic gear industry. They produce sportswear for everyone in both indoor and out entryway sports. They have additionally been creating sport observing gear and devices. Nike is situated in Oregon, in US. (Foot wear worldwide market, Online)Reebok then again was procured by Adidas by 2006 for $8 billion. Reebok are British based. (Reebok, Online) Current Annual Sales: Before the finish of year 2007, Nike's yearly deal had ascended to $17 billion. (Foot wear worldwide market, Online). Only in front of take over by Adidas, Reebok had income of $825 million in the 2005 first quarter. (Reebok Earning, Online). Today, Adidas has income of about $8 billion in the wake of taking over Reebok. Reebok contributed $ 4 billion to these deals. (ESPN, Online). Piece of the overall industry comparative with its rivals Nike has 37% of the piece of the pie and is really the market heads in that portion. It is trailed by other blend of firms at 29% then Adidas is third with 22%, Puma is fourth with 7% and new parity is fifth with 6%. (Foot wears worldwide market, Online) Reebok then again takes 8.8% available offer after the procurement by Adidas. (Reebok Earnings, Online). Notable development rate: Trends and qualities identified with the business all in all (life cycle stage in industry) This industry has been developing at a diminishing rate. Refering to from 2003 to 2004, the development for sports attire went up by about $7.5 billion which meant over 12%. In the accompanying money related year to 2005, there was a development of under $ 4 billion which meant just 6%. In this manner the existence cycle right now is at slack stage. (Foot wear worldwide market, Online).Reebok has had a moderate development rate up to the time it was obtained by Adidas. (Reebok Stores, Online) Anticipated development rate By and large, Nike will have a diminished development rate in the all out market. Explicitly Europe will have a diminished development while China has a consistent development that will blast toward 2008 when they have the Beijing Olympics. Nike will support the occasion. Nike has a task development pace of 7% for the following 10 years. (Foot wears worldwide market, Online). Reebok have a 10 years anticipated development pace of 4.7%. (Fortunes 500, Online). Significant client bunch inside the business (organizations, government, shoppers and anticipated interest) The pattern for the clients has been a consistent move to the low execution buyer who isn't really engaged with sports. The huge markets have kept on being in US and Europe. For the most part the low entertainers are the most expended at normal 88 - 100% followed by the athletic items at normal 58-87% lastly the design items at normal 0-57%. (Foot wear worldwide market, Online). How comparative items are conveyed inside the business Over the business for Nike, footwear contributes $7.965 billions, Apparels contribute $ 4.168 billions, Equipment contributes $0.873 billions while different items contribute $ 1.954 billions. (Foot wear worldwide market, Online). Deals power choices/media accessible Nike utilizes low promoting techniques to push the deals up. In 2006, they spent $ 1.74 billion on the total publicizing procedures which meant only 11% of its income. Anyway their power for deals lies on very much arranged retail framework. Nike has in the past utilized the Beetles tunes, and Chinese topic promotions. (Foot wear worldwide market, Online). Reebok then again have been dynamic on sponsorships, for example, the NBA and other donning capacities. (Reebok Stores, Online) Obstructions to exit to work in this commercial center The obstructions for exit for Nike from this market section are the multi billion sponsorship course of action and agreements that have been made by the particular game organs and competitors. They are additionally the market heads. (Foot Wear Global Market, Online). The leave boundaries for Reebok are high because of its obtaining by Adidas whom the have become element. (ESPN, 2008.) Full scale - natural investigation The Sociological conditions that sway on Nike are the inclinations for low execution items. This has seen the ascent of interest of minimal effort footwear and attire consistently from the center game apparatus. (Foot wear worldwide market, Online) The Technical Conditions that influence Nike are its assembling areas. Nike has the vast majority of its assembling plants in Asia and particularly in China however that will before long effect on its disseminations details with rising firm rivalry. (Foot wear worldwide market, Online). The specialized conditions that influence Reebok are it current securing status that implies the board won't be as autonomous as in the past. (ESPN, Online) The monetary conditions that face Nike are the rising pay bill particularly in China which takes too much. This has been going up by over 10% every year. From 2002 to 2005 there was an ascent of over 17% in wage bill. Nike likewise has the second most noteworthy working edge at 8.8% after Adidas. They spend over 11% of the income in publicizing. Nike has 418 uber store around the world. (Foot wear worldwide market, Online). The Economic conditions that influence Reebok are its lessening deals because of poor brand situating. (Reebok Stores, Online). The Environmental conditions that influence Nike are its acceptable consistence with item reuse that has earned it a high space in worldwide evaluations. (Foot wear worldwide market, Online). Reebok then again was as of late fined $1million for infringement of Federal Hazardous Substances Act. This was following an import of lead loaded wristbands which are viewed as harmful. (Condition News Service, Online). The Political Conditions that influence Nike are worries for human right. Nike has been blamed for abuse of workers in Far East, Asia, Mexico. They have likewise been blamed for undermining ladies with a portion of their battle procedures in the East Asia. There are additionally claims of kid work. (Foot wear worldwide market, Online). The political conditions that influence Reebok are the market picture following the obtaining by Adidas. (Reebok Stores, Online) Any Cultural Changes that impact Nike and Reebok Both Nike and Reebok has been moving from the social item notice to big name advancement styles. They are contracting significant game characters to sell their brands universally. (Foot wear worldwide market, Online) Works Cited ESPN: Adidas purchase of Reebok would support US piece of the overall industry. Footwear Global Market: Nike Market Share. Accessible at http://www.wikinvest.com/stock/Nike_(NKE)#Market_Share . Gotten to on March 21, 2008. Fortunes 500: Reebok. Accessible at http://money.cnn.com/magazines/fortune/fortune500_archive/depictions/2003/1113.html . Gotten to on March 21, 2008. Reebok Stores: Available at http://store.reebok.com/home/index.jsp Accessed on March 21, 2008. Reebok Earning. Accessible at http://www.reebok.com/useng/ir/press/2005/Q1_2005_Earnings.htm Accessed on March21, 2008.

Shortcut I vs. Me

Grammar rule: any pronoun that follows a preposition must be an object pronoun (me, her, him, us, them NOT I, she, he, we, they). I realize, however, that most people do not want to think about prepositions and subject and object pronouns, especially while theyre taking the SAT, so now Im going to give you the shortcut: Pretty much everyone employs this rule naturally when using singular subject and objects: you just wouldnt say, me is going to the store, or the cashier gave the change back to he. When subject and objects are plural, however, people tend to get confused. But heres the thing: theres no difference between using pronouns with singular and plural subjects and objects. In fact: Whatever goes for singular also goes for plural. The SAT almost always pairs pronouns with a proper names (e.g. Jesse and I; she and Maria), so if you cross out the proper name, youll virtually always be able to hear whether theres an error. Lets look at a couple of examples Incorrect: After nearly a month, the teacher finally returned the report to Sarah and I. The first thing that we can notice is that we have a name (Sarah) paired with a pronoun (I). If we cross out the words Sarah and, we are left with: Incorrect: After nearly a month, the teacher finally returned the report to I. Would you say that? Of course not. Youd say, The teacher finally returned the report to me. So youd also say: Correct: After nearly a month, the teacher finally returned the report to Sarah and me. Or: Incorrect: Tom and me went to the baseball game yesterday after school. Cross out: [Tom and] me went to the baseball game yesterday after school. If you wouldnt say Me went to the baseball game, you wouldnt say, Tom and me went to the baseball game either. The sentence should therefore read: Correct: Tom and I went to the baseball game yesterday after school.

One Person Company - Free Essay Example

Title of the Article-à ¢Ã¢â€š ¬Ã…“Company Law, 2013: Demystifying NCLT and One Person Companyà ¢Ã¢â€š ¬Ã‚  Abstract The Companies Act 2013 has been a mixed bag of affairs. It has come up with new rules regarding various institutions that were not there till now like the NCLT and the NCLAT and the provisions of one person company. These new introductions are revolutionary steps and a relief for the investors and the companies. The new law has changed six decades old legislation that needed new reforms and a new outlook with the changing time to bring a new prospective to the companies act. The new act has been brought to enhance self-regulation, raise levels of transparency and importantly to protect the interest of the investors and creditors. In the present paper we have tried to explain the effectiveness of enforcing the Companies Act 2013. Introduction The Companies Act 2013 came into force on 30 August 2013. The 2013 Act brings new concepts and it also gave new definitions to simplify the provisions. In this paper we have covered some of the new sections which have been introduced in Companies Act 2013. A few of these aspects are discussed in detail which are as follows: One person Company, National Company Law Tribunal and National Company Law Appellate Tribunal. The Companies Act, 2013 is designed in a way to make a business friendly environment, and it will also help in improving corporate governance. The replacement of high court with tribunal in 2013 act has reduced the burden of the High Court. OPC- One Person Company Provision of à ¢Ã¢â€š ¬Ã…“One Person Companyà ¢Ã¢â€š ¬Ã‚  was introduced in Companies Act 2013. Concept of One Person Company has not evolved in India only but it is well established in practice in different countries like USA, UK and in many European Countries. This theory was firstly introduced in India by Dr. Jamshed J. Irani, Chairman of The Expert Committee on Company Law in 2005. This theory provides the whole new opportunity for those individuals who want to do their own business. It is defined as a company which has only one member.[1] This provision, which is brought by the amendment act, has one exception which is that the person should have been born and be residing in India in order to be eligible to incorporate a one person company. One person company is a new concept in the Indian entrepreneurship. A one person company is a private limited company with having of single member.[2] In the old Companies Act, 1956 it was mandatory for the private company to have m inimum two member to start a business. This was a barrier for the individual who wanted to do individual business. This will bring revolution in the Indian business. This new concept may take time to work efficiently but with the passage of time it will bring big entrepreneurs to the country. It will be truly helpful for the small entrepreneurs, as it will give a platform to them to start their venture and in future they may achieve recognition globally. The important question which arises in one person company is that at the time of incorporation of a company, it has to provide details of the nominee who shall take command of the ownership of the office when original member will not be in capacity to work in the office. Evolution of NCLT and NCLAT Recommendation of Eradi Committee: The history of setting of National tribunals can be traced from the recommendations of Eradi committee report[3] on à ¢Ã¢â€š ¬Ã‹Å"insolvency lawà ¢Ã¢â€š ¬Ã¢â€ž ¢. The department of companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s affair constituted a committee under Justice V. Balakrishna Eradi to examine, draft and recommend amendments in the companies act. The committee recommended an introduction of a separate constitutional amendment bill for setting up of the national tribunal. The report suggested amendments to part VII of the companies act, 1956 to include provisions for setting up of national tribunals that would have jurisdiction that was exercised by the company law tribunal by the 1956 act. Further the power to rehabilitation and revival of companies which is entrusted to BIFR and AAIFR under the sick industrial companies act and the power, jurisdiction of winding up of companies was given to court should be given to the NCLT along with pending winding up proceedings, hence NCLT helped in c reating a platform whereby the entire process of revival, reconstruction, amalgamation and winding up of sick companies came under one roof.[4] The paper will discuss various cases that have helped in the formation of NCLT and NCLAT and shaping it to the form in which it is today. Thiru. R. Gandhi vs Union of India[5] In the above case questions pertaining to the constitutionality of the NCLT were challenged in the madras bar. The issues raised were a) Growing tribunalization of justice by composition of more and more tribunals would lead to erosion of judicial independence and will ultimately lead to trivialization of justice. b) The company law tribunal that came into existence through companies (amendment) act 1988 will be abolished and its powers would be vested with the NCLT after the amending act of 2002 comes in force. The parliament has power to create NCLT and NCLAT under Entry 43 and 44 of List I. Following were the provisions of the tribunal that were proposed by the central government through the amendment act of 2002: Members: The tribunal would consist of the president and members belonging to the judicial and technical streams that are deemed fit by the central government, by notification in the official gazette provided that such person is not above sixty two years of a ge. Benches of tribunal: The president of the tribunal has the power to transfer case, during the hearing of case if it appears to him that the case is of such a nature that it ought to be transferred to a bench consisting of two members. The president would have the power to form special bench compromising of three or more members for the purpose of disposing of cases in areas of rehabilitation, restructuring and winding up of company. There shall be a principal bench in New Delhi in addition to other benches which shall be presided by the president of the tribunal. Order of the tribunal: A) after hearing the case from both the sides, adhering to the principle of natural justice, the tribunal can pass the judgment as it thinks fits. B) The tribunal within two years of passing its judgment can amend the order with the view to rectify its order. C) The tribunal has to send a copy of the order passed to each party concerned. The tribunal is also granted with the power to r eview its orders. Appellate Tribunal A person/party aggrieved by the order of the tribunal can appeal to the appellate tribunal provided that the appeal should be with 45 days of which the copy of order made by the tribunal is received by the appellate. The appellate tribunal shall consist of a chairperson and not more than two members appointed by the central government for the purpose of hearing appeals. The chairperson should be a Judge of the Supreme Court or the chief justice of a high court. Appeal to the Supreme Court: a person aggrieved by the decision of the appellate tribunal can appeal to the supreme court of India within sixty days of communication of the order of the tribunal to him. The Supreme Court in the case of Associated Cement Companies Ltd. vs. P.N.Sharma [6] observed that tribunals are there to entrust them with special matters and questions, one thing that is similar between a tribunal and a court is that both are created by the state and are en trusted with judicial instead of executive and administrative power. They are there to settle disputes between the parties and offer a resolution. Article 323A of the constitution provides for the creation of administrative tribunal and further 323-B enables appropriate legislature by law for trials by tribunals on disputes, complaints. A bare perusal of the aforesaid provisions does not leave an iota of doubt on the legislative competence of the parliament for the creation of special courts and tribunals. The arguments provided by the opposite side questioned the qualifications, tenure, competence, independence and suitability of the members of the tribunal as no article corresponds to the tribunal (except articles 136 and 227 which only provide for appeal to the supreme court with leave and judicial review of the orders of the tribunal by the high courts) further it is not clear whether the jurisdiction of the tribunals is substitute to the court or subordinate to it. Federa l spirit is enshrined in our constitution with provisions of separation of powers where each organ is independent from the other organ, the constitution has inscribed for an independent and impartial judiciary. In L.Chandra Kumar vs. Union of India[7] it is laid down that the power of the judicial review over the legislative action is vested with the high court under article 226 and article 32 is an integral part of the constitution and constitutes the part of the basic structure. Hence the formations of tribunals in a way is interference with this power. The main contention was that if the parliament is not stopped at the right time then it would lead to horrendous results as the temptation to resist power is too much and the parliament is growing its roots into the judiciary deeper and deeper The court held that part of the companies (amendment ) Act, 2002 that have been found defective and the breach of the constitutional scheme of separation of power and independence of judiciary are amended it would be unconstitutional to create a tribunal or an appellate tribunal to exercise jurisdiction now exercised by the high courts or the company law tribunal. The following case provided for the first time a rough draft for the tribunal and suggested its lacunas and the path that it has to follow, some of the provisions of the tribunal were volatile of the constitution and were in a contravention to the basic structure of the constitution. The above case was appealed in the Supreme Court by the Union of India to challenge the impugned order of the madras high court and decide the constitutionality of the National Company Law Tribunal and National Company Law Appellate Tribunal. Madras Bar Association vs Union of India Anr[8] The issues in the following case were: Constitutionality of national tax tribunal. Constitutionality of section 46 of the Constitution (Forty- second Amendment) Act, 1976[9] and Article 323B of Constitution of India. Noncompliance of tribunals with normal rules of evidence as contained in Evidence act. It was put forward that the above section was ultra vires the basic structure of the constitution as it encourages the growth of tribunal systems that lead to interference in the judiciary and further create a parallel system of administration of justice as it takes away power of review from the high court. The Indian legal system follows the golden rule of innocent until proven guilty, this rule is established with the help of evidence act, tribunals are not bound by these strict rules and they follow their own summary procedures and its members are also not legally trained. However the apex court held that since National Company Law Tribunal does not involve article 323 B and its roots are derived from entries in list I and III hence there is no challenge to this article. Highlights of changes between the Companies Act 2013 and Companies act 1956 In the new act the term of the president who is a High Court Judges for atleast 5 years but the same was not defined in the for the High court be appointed as a president. The criteria for appointing the judicial member and technical member is also changed and NCLAT will have both members but not more than 11 while in old act only 2 members were there. The new act also provide office of president to the serving supreme court judges or chief justice of high court but in the old act only retired judges of either Supreme court or High Court was appointed as the chairman of National Company Law Appellate Tribunal In the new act the time period of disposal of cases is also defined is 3 months while this was not there in the old act of 1956. [1] 2(62) of the Companies Act, 2013. [2]3(1) (c) of the Companies Act, 2013. [3] Justice Eradi Committee on Law Relating to Insolvency of Companies (March 30, 2014), https://pib.nic.in/focus/foyr2000/foaug2000/eradi2000.html [4] Richa Mishra, Eradi panel proposals on insolvency law Core Group to examine changes in Cos Act, The Hindu, September 3, 2000. https://www.hindu.com/businessline/2000/09/03/stories/14031801.htm [5] Thiru. R. Gandhi v. Union of India (2004) 120CompCas510 (Mad). [6] Associated Cement Companies Ltd. vs. P.N.Sharma, (1965) AIR SC 1595. [7] L.Chandra Kumar vs. Union of India, (1997) 3 S.C.C 261. [8]Madras Bar Association vs Union Of India Anr (2010) 2CompLJ 640(SC). [9]The Constitution (forty-second amendment) Act, 1976 (March 30, 2014), https://www.constitution.org/cons/india/tamnd42.htm.

Direct-Object Pronouns in Spanish

In Spanish as in English, a direct object is a noun or pronoun that is directly acted upon by a verb. In a sentence such as I see Sam, Sam is the direct object of see because Sam is who is seen. But in a sentence such as I am writing Sam a letter, Sam is the indirect objects. The item being written is letter, so it is the direct object. Sam is the indirect object as one who is affected by the verbs action on the direct object. A difference with Spanish, however, is that the set of pronouns that can be direct objects differs slightly from those that can be indirect objects. The 8 Direct-Object Pronouns of Spanish Here are the direct-object pronouns along with the most common English translations and examples of their uses: me — me — Juan puede verme. (John can see me.)te — you (singular familiar) — No te conoce. (He doesnt know you.)lo — you (singular masculine formal), him, it — No puedo verlo. (I cant see you, or I cant see him, or I cant see it.)la — you (singular feminine formal), her, it — No puedo verla. (I cant see you, or I cant see her, or I cant see it.)nos — us — Nos conocen. (They know us.)os — you (plural familiar) — Os ayudarà ©. (I will help you.)los — you (plural formal, masculine or mixed masculine and feminine), them (masculine or mixed masculine and feminine) — Los oigo. (I hear you, or I hear them.)las — you (plural feminine formal), them (feminine) — Las oigo. (I hear you, or I hear them.) The differences between these pronouns and the indirect objects are found in the third person. The indirect third-person pronouns are le and les. Note that lo, la, los, and las can refer to either people or things. If they are referring to things, be sure to use the same gender as the name of the object being referred to. Example: Where the noun is masculine: Tengo dos boletos.  ¿Los quieres? (I have two tickets. Do you want them?)Where the noun is feminine: Tengo dos rosas.  ¿Las quieres? (I have two roses. Do you want them?) If you dont know the gender of the direct object, you should use lo or los: No sà © lo que es porque no lo vi. (I dont know what it is because I did not see it.) Word Order and Direct-Object Pronouns As you can see from the above examples, the location of a direct-object pronoun can vary. In most cases, it can be placed before the verb. Alternatively, it can be attached to an infinitive (the form of the verb that ends in -ar, -er or -ir) or a present participle (the form of the verb that ends in -ndo, often the equivalent of English verbs that end in -ing). Each sentence in the following pairs has the same meaning: No lo puedo ver, and no puedo verlo (I cant see him).Te estoy ayudando, and estoy ayudà ¡ndote (I am helping you). Note that when the direct object is added to a present participle, it is necessary to add a written accent to the last syllable of the stem so that the stress is on the proper syllable. Direct-object pronouns follow affirmative commands (telling someone to do something) but precede negative commands (telling someone not to do something): està ºdialo (study it), but no lo estudies (dont study it). Note again that an accent needs to be added when adding the object to the end of positive commands. Le as a Direct Object In some parts of Spain, le can substitute for lo as a direct object when it means him but not it. Less commonly in some areas, les can substitute for los when referring to people. You can learn more about this phenomenon in the lesson on leà ­smo. Sample Sentences Showing Use of Direct Objects Direct objects are shown in boldface: Me interesa comprarlo, pero mà ¡s tarde. (I am interested in buying it, but much later. The me in this sentence is an indirect object.)Tu nariz està ¡ torcida porque tu madre la rompià ³ cuando eras nià ±o. (Your nose is bent because your mother broke it when you were a boy. La is used here because it refers to nariz, which is feminine.)Puedes vernos en el episodio 14. Nos puedes ver en el episodio 14. (You can see us in Episode 14. Both of these sentences mean the same thing, as the direct object can either come before the verbs or attached to the infinitive.)Te quiero mucho. (I love you a lot.) Key Takeaways A direct object is a noun or pronoun that is acted on directly by a verb.In Spanish, direct- and indirect-object pronouns can differ in the third person, unlike in English.When the direct object of a verb is the equivalent of it, in Spanish you need to vary the gender of the pronoun according to the gender of the noun being referred to.

Conflict management in the workplace - Free Essay Example

Sample details Pages: 4 Words: 1339 Downloads: 3 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Conflict Management in the Workplace Introduction Conflict management in the workplace is an issue that every leader, manager, or employee has to deal with at one time or another. The basics of conflict management include improving communication, teamwork, and a systematic approach to solving the disagreement. This paper explores various techniques that can be utilized to manage conflict in the workplace. Workplace Conflict Management Conflict is defined by Hellriegel, Slocum and Woodman as the process in which one party perceives that its interests are being opposed or negatively affected by another party (p. 362). Sometimes conflict that be a positive force within an organization, while at other times it is a negative force. Don’t waste time! Our writers will create an original "Conflict management in the workplace" essay for you Create order An example of conflict as a positive force is that the creation and resolution of conflict may lead the company to constructive problem solving. It may also lead people to search for ways of changing how they do things. The conflict resolution process can ultimately be a stimulus for positive change within an organization (Hellriegel, Slocum and Woodman, p. 364). However, conflict may also have serious negative effects on an organization. For example, conflict may divert efforts from goal attainment or it may deplete resources (particularly time and money) (Hellriegel, Slocum and Woodman, p. 364). Conflict also may negatively affect the psychological well-being of employees and cause stress (Hellriegel, Slocum and Woodman, p. 364). Indeed, conflicting workplace ideas may lead to anger, tension, and anxiety. Deep and lasting conflicts that continue without conflict management may even lead to violence between employees and others (Hellriegel, Slocum and Woodman, p. 365). Therefore, it would be fair to say that conflict may sometimes be advantageous and at other times destructive. Workplace managers must be sensitive to the consequences of conflict. These consequences range from negative outcomes (such as loss of skilled employees, sabotage, low quality of work, stress and even violence) to positive outcomes (such as creative alternatives, increased motivation and commitment, high quality of work, and personal satisfaction) (Hellriegel, Slocum and Woodman, p. 365). Conflicts (whether they are negative or positive) will arise in organizations whenever interests collide and when these differences affect the relationship between interdependent people, they must be constructively managed (Hellriegel, Slocum and Woodman, p. 365). According to Hellriegel, Slocum and Woodman, some ways to manage conflict include: the forcing style, the accommodating style, the compromising style, and the collaborating style. The forcing style refers to assertive and uncooperative behaviors and reflects a win-lose approach to interpersonal conflict (Hellriegel, Slocum and Woodman, p. 374). This forcing style relies on coercive power and dominance to resolve the conflict. In the forcing style, the person who is trying to resolve the conflict feels that one side must win and that one side must lose (Hellriegel, Slocum and Woodman, p. 374). The accommodating style, according to Hellriegel, Slocum and Woodman, refers to cooperative and unassertive behaviors (p. 376). The accommodation style manifests itself as a long-term strategy to encourage cooperation by others, or as a submission to the wishes of others. The accommodator tries to reduce tensions and stresses by reassurance and support (Hellriegel, Slocum and Woodman, p. 376). This style shows concern about the emotional aspects of conflict, but does not deal with substantive issues this style simply results in covering up or glossing over the issue (Hellriegel, Slocum and Woodman p. 376). According to Hellriegel, Slocum and Woodman, the compromising style refers to behaviors at an intermediate level of cooperation and assertiveness (p. 377). This style is based on give and take, which usually involves a series of concessions. This technique is commonly used and widely accepted as a means of resolving conflict. A collaborating style refers to strong cooperative and assertive behaviors. It is the win-win approach to interpersonal conflict handling (Hellriegel, Slocum and Woodman, p. 376). In this stylistic approach to workplace conflict management, it is sharing, examining and assessing the reasons for the conflict that leads to the development of an alternative that is fully acceptable to everyone involved. This effectively resolves the conflict (Hellriegel, Slocum and Woodman, p. 377). Studies on the use of these different interpersonal conflict handling styles indicate that collaboration is the best approach to managing workplace conflict (Hellriegel, Slocum and Woodman, p. 378). The collaboration style tends to be characteristic of (1) More successful individuals and (2) High-performing, rather than medium- and low-performing organizations (Hellriegel, Slocum and Woodman, p. 378). Furthermore, the use of the collaboration style of conflict management appears to result in positive feelings from employees (Hellriegel, Slocum and Woodman, p. 378). So, it appears that the best style to resolve conflict is the collaborative style. Another suggestion for workplace conflict management is to take a step-by-step approach no matter what style the manager is employing. Author Rudy M. Yandricks article, Integrating Behavioral Strategies: A Solution to Workplace Problems, suggests that a systemic approach to workplace issues by management is essential in todays workplace environment. For example, a step-by-step process can be taken to resolve any workplace conflict. This enables the leader to follow a systematic approach to resolving a conflict. A detailed example of a step-by-step systemic approach is the following: First, the employee reports an issue to his supervisor. Second, the supervisor gathers information in order to gain the best understanding possible of the potential hurdle. Third, the supervisor identifies possible causes of the conflict by collecting information from the team members and from anyone else impacted by it. Fourth, the supervisor meets with a Human Resources specialist who will build a list of potential solutions to the conflict. Fifth, the Human Resources specialist, in conjunction with the supervisor, decides on an appropriate solution to the problem. Sixth, the Human Resources specialist and the supervisor present the solution to the workers. And, finally, the solution must be administered. Additionally, there are exercises that can be done to resolve conflict and tensions in the workplace. For example, in the article by Boss and McConkie, the authors suggest an exercise for situations of conflict where there are contradictory personalities. They suggest a writing exercise where the people in conflict write answers to three questions: What does he or she do well? What do I think I do that bugs him or her? What does he or she do that bugs me? (p. 50) This exercise, according to the authors, gives those in conflict time to get used to an explicitly confrontational situation before either of them has a chance to pop off at the other. It forces some rationality into an emotionally charged situation. Also, those in conflict are forced to look at their own behavior before making any accusations against the other. Completing this exercise will create a non-contentious atmosphere for continuing the conflict resolution. Frequently, after doing an exercise such as the aforementioned, it will become clear that neither person involved in the conflict is intentionally causing problems for the other. Each of the foregoing systemic techniques and styles regarding workplace conflict management can be utilized either separately, or in conjunction with each other, in order to promote a more cohesive work environment. Conclusion Conflicts are part of individual relationships and organizational development, and noorganization can hope to mature to productivity and be successful without being able to resolve conflicts effectively (Cottringer, p. 6). Thus, conflict resolution is an integral part of maintaining a thriving workplace and the techniques and systemic approaches discussed in this paper should be utilized to resolve differences in the workplace. Bibliography Boss, Wayne R. and Mark L. McConkie. Conflict Management in Surgery: Third-Party Intervention. 5/1/2000. Public Administration Management: An Interactive Journal. Available at:https://www. pamij.com/5_1/v5n1_boss.pdf. Retrieved May 22, 2003. Cottringer, William. Conflict Management. Executive Excellence Magazine, 14.8 (1997):6. Hellriegel, Don, John W. Slocum, Jr. and Richard W. Woodman. Organizational Behavior, 8th Edition. Cincinnati, OH: South-Western College Publishing, 1998. Yandrick, Rudy M. Integrating Behavioral Strategies: A Solution to Workplace Problems. Competere Consulting Group. Available at: https://www.competere.com/rudyarticle.html. Retrieved May 22, 2003.

Walt Whitman A Strong Minded and Anxious American Author...

THESIS: Walt Whitman was a very strong minded, and anxious American author, who accomplished goals and made a great impact on the world today. introduction: The great life of Walt Whitman is still talked about today. He went from being a student, to a journalist, then an editor. He was very successful and thoughtful, and made many accomplishments during his 73 years of life. BODY: 1. Walt Whitman didn’t have a terrible life, but it wasn’t perfect.(Walt Whitman.† Encyclopedia Brittanica. Encyclopedia Brittanica online edition. Encyclopedia Brittanica inc. 2012. Web.13 Nov.†¦show more content†¦He was proud of the way he stayed confident, and focused while editing the paper. Walt made it very clear for the readers to understand. Walt’s brother read one of his articles, and next time he wrote Walt, he let him know that he was proud of him for achieving his lifetime goal, and that he wanted to see him soon. On the day that Walt heard that his brother was wounded at war, he traveled up to Fredricksburg, and stayed in a camp about 2 mile away from the base. ( Walt Whitman.† Encyclopedia Brittanica. Encyclopedia Brittanica Academic online edition. Encyclopedia Brittanica inc, 2012. Web.13 Nov.2013 http:// www.brittanica.com / Eb checked/topic/642866 ) He spent his spare time visiting the wounded and dying soldiers. Walt sta yed there until he saw that his brother was doing better, then he returned to Brooklyn and received good news; Whitman had got a promotion, this was January of 1865 but in June he was dismissed because the secretary of the interior thought that â€Å"The leaves of grass† was indecent. That same year, he entitled a poem called â€Å"Drum Tops†, the sequel of this poem contained his great elegy on president Abraham Lincoln. Walt greatly admired Abe’s work. He held the theory that the chief function of the poet personality in his verse. 3. He remained a poet for as long as he could. Walt was one of the oldest poets there was at the time. He started at an early age, and never gave up. He had been getting sick, but he alwaysShow MoreRelatedManagement Course: Mba−10 General Management215330 Words   |  862 Pagesin a Demanding Economy Text  © The McGraw−Hill Companies, 2004 Feigenbaum−Feigenbaum: The Power of Management Capitol 1. New Management for Business Growth in a Demanding Economy Text  © The McGraw−Hill Companies, 2004 3 the strong business growth of pacesetter companies in the United States and throughout the world? How can companies renew and sustain those factors in the face of the business slowdowns and major fluctuations that challenge the longterm continuation of profitable

Misrepresentation in Business Law - 1672 Words

Introduction to Business Law- Assignment 1B Advise TLC Ltd. as to any possible action they may have for misrepresentation against answer Ltd. _____________________________________________________________________ Treitel in The Law of Contract (2003) defines a contract as: â€Å"An agreement giving rise to obligations which are enforced or recognised by law. The factor which distinguishes contractual from other legal obligations is that they are based on the agreement of the contracting parties.† This quote illustrates the basic criteria for a contract. A contract is a legally binding agreement between two or more parties, it can be written or oral. There is no mention of a written contract between TLC and†¦show more content†¦For this to happen it follows that the reasonable person would consider it an important fact in entering the contract. Museprime Properties Ltd v Adhill Properties Ltd (1990). Answer are the experts and Valentino is their representative, he inspects the needs of TLC and recommends the Bizarre Pentium IV. Therefore it is reasonable to assume that the statements made regarding reliability and suitability were representations made to induce the contract. The issue is whether Valentino purposefully made false statements, was reckless or innocent in those statements. A Fraudulent statement is knowing the statement to be false or being reckless to whether it’s false. Defined in Derry v Peek (1889) by Lord Herschell as a â€Å"false statement made knowingly or without belief in its truth or recklessly careless whether it be true or false†. Recklessly careless means the representee had foreseen it may be false but did not care. There is an element of dishonesty here. In fraudulent cases the burden of proof is on the claimant, this means the claimant must prove the defendants guilt. 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In light of this, the essay will arg ue in favour of Bob Wheelie, with support of relevant case law, that the reckless actions of Mr Spokes constitute the grounds for an action for fraud and damages toRead MoreThe Elements Required For Fraudulent Misrepresentation And If They Are Present1008 Words   |  5 PagesIntroduction This essay is going to discuss the elements required for fraudulent misrepresentation and if they are present in the situations of Mr Wheelie and Mr Spoke. Common law will be used to support Mr Wheelie’s intention of taking Mr Spoke to court. The components of fraudulent misrepresentation in this situation are seen through the actions that Mr Spoke took to seek agreement with Mr Wheelie in the contract. 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The two ways in which exemption clauses can be incorporated in a contract are: (1) Incorporation by notice and (2) Incorporation by signature

Financial Management Property Construction -Myassignmenthelp.Com

Question: Discuss About The Financial Management Property Construction? Answer: Introducation Procurement is a very crucial process in every construction project. This is the process that determines how the project will be executed, key stakeholders and the overall efficiency of project execution. Therefore it is very important for clients to ensure that they select the most appropriate procurement method so as to complete their projects within stipulated time and budget, and to the required industry standards and quality. This report aims at analyzing different construction procurement methods so as to select the best method for Southern Cross Station project. The project was executed using public private partnership (PPP) procurement method and so this report will investigate if this method was appropriate or whether there is a better procurement method for the project. Project Description Southern Cross Station (formerly known as Spencer Street Station) is one of the mega projects that was designed to transform and improve transport infrastructure in Melbourne, Victoria, Australia. The project is located in Docklands, Melbourne, on Spencer Street between La Trobe Street and Collins Street. This station is Victorias civic landmark and one of the biggest infrastructure projects in Melbourne, Australia. It is the 3rd busiest railway station in Melbourne, having an average daily commuter traffic of 100,000(Railway Technology, 2018). The railway station is owned by IFM Investors and operated by AssetCo Management. IFM Investors has signed a 30-year lease agreement with Victorian State Government to own, operate and maintain the station until 2036. The agreement is under a PPP. Southern Cross Station has different features, components and facilities. They include the transport interchange redevelopment, 16 platforms, 22 rail tracks, a retail plaza, main office building, residential towers, passenger information screens displaying real time train departure and arrival information, 30-bay coach station, 800-cars parking facilities, 5-minute pick up and drop off area and improved public facilities. The station is characterized by high-quality baggage-handling, ticketing and waiting services. All these facilities are equipped with state-of-the-art passenger information display, lighting and seating systems. The station is renowned for its unique architectural trapezoidal roof system that covers a whole city block of approximately 600,000 m2. The main objectives of this project were to provide practical transport experience by transforming the existing bus terminus and railway station into a first-rate inter-modal transport facility, ease movement of passengers, improve staffs working environment and management Southern Cross Station a major transport and retain hub. The station serves interstate, regional and metropolitan bus and rail commuters. The target of the project was to manage 15 million passengers annually and increase this number to 45 million by 2020. Southern Cross Station project started in 2000 when the then Southern Cross Station Authority, a representative of the Victorian State Government, was mandated to oversee the procurement, financing, construction and operation of the project. In 2002, the Authority signed a Services and Development Agreement with Civic Nexus Pty Ltd, a private consortium, to design, construct and operate the station for a period of 30 years. Construction works started in 2002 and were scheduled to be completed in 2005. Nevertheless, construction works did not commence as expected due to contractual disputes, cost overruns and delays until 2006(McCann, et al., 2015). Other partners involved in the construction of Southern Cross Station were: Grimshaw Jackson Joint Venture (architects), Leighton Contractors (builders), Delaware North Australia, Honeywell Limited, ABN AMRO and Daryl Jackson Architecture. The entire project was executed by Civic Nexus consortium, which contracted the other partners. The p rimary owner of the project is Public Transport Victoria. As stated before, this project was executed under a PPP. It was initially estimated to cost A$350 million but it is estimated to have cost A$700 million. Construction works commenced in 2002 and ended in 2013. Every year, Civic Nexus is paid A$30 million for operating and maintaining the facility. This will go on until 2036 when the 30-year lease agreement expires. Southern Cross Station Redevelopment project was not completed within stipulated time and budget due to the wrong choice of procurement method. Below are some photos of the Southern Cross Station Factors Affecting Choice of Construction Procurement Method There are several factors that should be considered when selecting a construction procurement method. Some of these include: project completion speed, project cost certainty, authority and ability of the client to make changes, the level of quality needed, the cost of implementing the procurement method, risk management techniques, and clarity of defining the responsibility of each stakeholder(Zuo, 2008). All these factors affect the choice of construction procurement method for a particular project. The choice of procurement methods helps in avoiding numerous problems and plays a big role in attaining the specific project goals and objectives(Clamp, et al., 2009). Some of these factors are discussed below: Cost is one of the biggest factors that determine the choice of construction procurement method. The cost is usually determined during the design stage of the project, with some uncertainties. Some procurement methods are more expensive than others hence the client should select a method that he/she can afford. It must be noted that the client will have to pay some of his/her team depending on the type of procurement method chosen. Hence the client should choose a procurement method that he/she is ready and able to pay its associated expenses. The initial cost of Southern Cross Station project was estimated to be A$350 million but the projects final value was about A$700 million. Time is another factor that affect the choice of construction procurement method. Most projects have timelines hence the procurement method selected should enable the tem to complete it within stipulated time. Some methods allow design and construction phases to overlap while others require the project to be designed completely before the start of construction. If the project has a short deadline then procurement methods that allow overlapping of design and construction phases should be considered. However, these methods also have their challenges such as cost uncertainty and unclear project scope, among others. Clients expertise and requirements The relevant knowledge, experience and skills in construction projects also play a key role in the selection of construction procurement method. For this reason, it is important to know the knowledge, abilities, experience and requirements of the client before selecting the most appropriate procurement method. Clients who do not have comprehensive knowledge, skills and experience in construction projects should select a procurement method that will enable them play their role indirectly by involving their knowledgeable and experienced representatives such as consultants, project managers, engineers, etc. Therefore there are different procurement methods that are suitable for clients with different levels of knowledge and experience in the construction industry. The most important thing is for the client to select a procurement method that will ensure that his/her requirements are met and opinions considered in every decision that is made by the project team. Project characteristics Characteristics of the project also affect the choice of procurement method used for a particular project. These characteristics include: project size, location, complexity, uniqueness, risks, use, etc. Each of these characteristics has unique impacts on the project hence the procurement method selected should address them. Ability to make changes Different construction procurement methods give the client varied levels of ability to make changes to the project design or scope. Some methods allow the client to make changes at any time while others have very limited provisions for the same. It is worth noting that making changes to the project scope during construction stage has huge implications on project cost and time. Therefore it is usually recommended that the project scope and design are completed before the start of construction phase. Most importantly is that each procurement method gives the client a different level of ability to make changes to the project scope. Each construction project has unique risks. If these risks are not properly identified, analyzed and mitigated or prevented, they cause a lot of problems. In this regard, the client should ensure that the construction procurement method selected allocates or transfers risks appropriately t various stakeholders. The persons allocated the risks should fully understand the risks and take full responsibility. Industry preference This is also another factor that should be considered when selecting a construction procurement method. The client should consider the procurement method that most stakeholders are conversant with in the area where the project is being executed. This will make it easier for all stakeholders to understand each other and work as a team. Choosing a familiar procurement method also prevents the likelihood of conflicts and legal issues among stakeholders involved in the project. External factors There are also other external factors that influence the choice of a construction procurement method. Some of these factors include: legal factors, political factors, climatic factors, technological factors, social or community factors, etc. These factors create uncertainty if they arise when the project is ongoing. Procurement method used in Southern Cross Station Project The procurement method used in Southern Cross Station project was PPP. As stated before, Victorian State Government signed a PPP with Civic Nexus to design, finance, construct, operate and maintain the project. PPP is a procurement method where governments collaborate with private companies so as to procure mega projects of high value, and signs an agreement to share risks and opportunities of the project(Plantinga Doree, 2016). This procurement method is mainly used for public infrastructure projects such as roads, bridge, railways, etc. In this method, a private party makes an agreement to finance the project. Characteristics of PPP Procurement Method PPP is an innovative procurement method of delivering mega infrastructure projects(Tang, et al., 2010). This method involves collaboration between private and public sector so as to design, finance, execute, manage and maintain a project(Fernandez, et al., 2016). In this method, the project is usually financed largely by the private entity and partially by the government(Robert, et al., 2014). The method is usually used for infrastructure development projects(Al-Saadi Abdou, 2016),(Ke, 2014). In PPP, the public sector and private sector involved have specific responsibilities(Polyakova Vasilyewa, 2016). The method transfers risks to parties (developers, financiers, construction contractors, suppliers, service providers and operators) that best understands them and which are able to manage them effectively. This method is gaining popularity in many parts of the world including Australia(Wilson, et al., 2010). The main characteristics of PPP are as follows: Single private entity: in PPP procurement method, the government awards the whole project to a single private entity or contractor. This allows the private entity to develop smarter and better solutions for the project. Financing: in most cases, the private sector consortium finances the entire project under a PPP project. Once the project is complete, the government starts paying the private sector consortium over an agreed period of time usually 25-30 years. During this period, the private sector consortium owns the project and rents it to the government. Preparation time: it usually takes longer to prepare and submit bids using PPP approach. This is because both the public and private sectors have to perform due diligence and comprehensive analyses of the project management before making the final decision. Risk: the levels of risks in PPP are relatively high due to the size and complexity of projects executed under this procurement method. The risks are shared between the private sector and public sector even though former bears the highest risk(Rodriguez, 2017). The consortium therefore factors these risks into the bid price of the project. Maintenance: since the private sector consortium is responsible for the maintenance of the project once it is completed, the maintenance cost is factored in the projects overall cost. Expertise: PPP allows governments to capitalize on the best expertise in the private sector. Under this procurement method, the government engage private entities with the best knowledge, skills and expertise. Relationships: PPPs fosters building of long-term relationship between the private and public sectors. Advantages of PPP Procurement Method PPP procurement method has numerous benefits. Some of these are as follows: Innovation: PPP procurement method brings great innovation from the private sector to deliver public projects(World Bank Group, 2016). The private consortium involved in the project always selects the most qualified professionals to undertake specific tasks of the project. These professionals usually provide innovative solutions that are cost effective, environmentally friendly and more efficient. Cost certainty: in PPPs, determination of project costs is done in advance. The government, which is the contracting authority, will only pay this cost of the private entity delivered the agreed project outputs. Cost certainty also helps the government to know the exact amount it will pay, when and how to pay it. Faster delivery: most PPP projects are completed on time. This is because each task is assigned to specialists who are able to execute it faster and better. The method also allows overlapping of design and construction phases. Cost savings: projects executed under PPP are said to be cost effective mainly because of the greater innovations used and the alternative solutions provided(Yuan, et al., 2009). Even though some of these solutions may be expense during the construction phase, they reduce the cost of the project in the long term. Proper utilization of public resources: PPP projects ensures that public resources are used properly. This is because PPP projects involve participation of communities and based on their size, the projects attract strict monitoring from the general public. Since the expected project outputs are known even to the public, the private entity is compelled to put resources into appropriate use. Better quality: the final product built from PPP is usually of high quality(Rodriguez, 2017). This is mainly because the products are created by the most competent professionals in their areas of specialization. The infrastructure built is also maintained properly throughout its lifecycle. Collaboration: PPP promotes collaboration between public and private sectors. This collaboration helps in building strong relationships between the two sectors, which is good for the economy. Incentives: the government is likely to give the private consortium incentives to complete the project on time and within stipulated budget, and to improve the commercial and operational performance of the project. Disadvantages of PPP Procurement Method Some disadvantages of PPP procurement method include: Complexity: PPP projects are usually more complex than other projects in terms of design, structure, construction, operation and maintenance processes. This great complexity is associated with high risks and may lead to disputes, which was the case for Southern Cross Station project. Bidding cost: the cost of bidding a PPP project is quite high. For instance, design professionals will spend a lot of time preparing the designs but all these efforts will be useless if their company loses the bid. Therefore if a company bids and fails to win the contract, it will have lost a significant amount of money used in the bidding process. Political exposure: PPP projects are susceptible to politics. If there is a political change before the project is complete, the new government may abandon or reduce funding of the project thus causing delay and wastage of public resources. Procurement time and cost: procurement process for PPP projects takes a lot of time. The government has to do a lot of due diligence and consultation before choosing the private consortium to award the contract. This length procurement time is also associated with higher transaction costs. The cost is even higher considering the complexity of PPP projects. There is also the fear that people will have to pay in order to use the facility or infrastructure being developed. These claims are usually not true and therefore the involved parties have to educate the public on this issue. When executing a project under PPP, there is a possibility of the private consortium being after making profits and not giving other issues adequate attention. This may also not favor the government and public sector because taxpayers money will be used to pay for the project(Sazonov, 2012). This may also lead to low quality work as the private investor may focus on cost reduction instead of quality. Important Procurement Characteristics There are several procurement characteristics that were very important in selecting PPP as the procurement approach for this project. Some of these characteristics include the following: Cost: the initial cost of Southern Cross Station project was estimated to be A$350 million but the final cost was more than this value. Therefore the client of this project selected a procurement approach that did not deliver the project at the stipulated budget. Time: this project was scheduled to commence in 2002 and be completed in 2005. However, the project was commenced in 2002 and completed in 2013. Therefore the procurement method used did not complete the project within the stipulated time. Part of the project was completed in 2007. Quality: this is another very important procurement characteristic. PPP was selected because it had the potential to deliver the project at the required industry standards and quality. Impact: the procurement method selected was also aimed at ensuring positive impacts of the project on the economy, environment and society. Through PPP contracting, the interests of the general public are always considered. Relationship/collaboration: this is another important procurement characteristics that prompted the selected of PPP. The federal and state government definitely chose this procurement method so as to build relationships with private parties in the construction industry so that they can do business together in the future. These governments have several similar projects in the future and therefore they can always work with these parties when necessary. The success factors of a PPP are: capacity of the public sector to effectively manage its part of the project, political stability and commitment, level of competitiveness in the bidding process, appropriate allocation of risks, and affordability and viability of the project. Potential Reasons Why PPP was Selected for Southern Cross Station Project The likely reasons why PPP may have been selected for Southern Cross Station project are: Project value: the value of Southern Cross Station project was about A$350 million even though the final cost was approximately A$700 million. Therefore PPP procurement method was appropriate since the project value was over A$50 million. Risk transfer: considering the characteristics of Southern Cross Station project, t was not necessary to transfer risks since the Victorian State Government will assume responsibility of the project at the expiry of the contract period. This was useful in avoiding problems that would result to project delays and high cost overruns. What this project required was for its risks to be shared among participants. Therefore PPP was not the best method as it transfers most of the risks to the private entity. Clients knowledge and experience: another reason why alliancing contracting was the most appropriate procurement method for this project is the knowledge and experience of the client. The Public Transport Victoria a government agency, has vast knowledge and experience in this kind of infrastructure projects. Therefore the Authority understands the likely challenges to be faced and how to overcome them so as to complete the project as planned. Building relationships: alliancing contracting is a procurement method that is based on collaboration. The parties involved are able to work as a team, build a working relationship and probably work together in the future. Since Melbourne and Australia as a whole are still developing, the government wanted to work with parties and build good relationship for the purposes of similar projects in the future. Popularity of PPP Procurement Method The popularity of PPP procurement method has continued to increase in many parts of the world(Anderson, 2012). Mot governments are preferring this approach because of their potential benefits and advantages(Roehrich, et al., 2014), some of which have been discussed above. Some of the reasons contributing to the popularity of PPP procurement method are: Policy implications: PPPs have great policy implications in the construction industry. The experience the government has when implementing projects through PPP determines the kind of policies that the government establishes. In most cases, the government formulates policies that favor it and the private parties. Organizational structure: PPPs have systematic management and organizational structures that specify the roles and responsibilities of the private and public sectors involved. This helps in avoiding conflicts and disputes. Government commitment: increased popularity of PPPs is also being contributed by the governments commitment to treat private parties equally and fairly, and reward them appropriately. As a result of this, the private sector is now embracing this procurement method. Utilization of private finance and expertise: PPPs enable governments to utilize the finance resources and expertise in private sector. Through this method, these resources and expertise are transferred from the private sector to the public sector. In other words, PPPs make it possible for governments to attain long-term development goals without having to mobilize vast resources at once(Quelin, 2015). Opinion Procurement method contributes significantly to the success or failure of execution of a construction project(Sethuraman, et al., 2016). There are different construction procurement methods, each suitable for different kinds of projects executed under various situations. These methods have varying risk levels that are transferred onto the contractor, client or other key stakeholders. They differ significantly in terms of risk sharing and liability, management structure, design management, determination of contract price and tendering procedures, among others. The most suitable construction method has to be selected after comprehensive analysis of the projects risks, opportunities, budget constraints and time constraints. PPP is a procurement method that is majorly suitable for government infrastructure projects. This method is mainly suitable for projects valued above A$50 million and those that require risk transfer and not risk sharing. Considering these essential requirements, PPP was not the most suitable procurement method for Southern Cross Station Redevelopment project. There are several other construction procurement methods that would have been used instead of PPP. Each of these other methods has its own advantages and disadvantages(Naoum Egu, 2016). Some of them include: traditional procurement method, design and build method, construction management, management contracting and alliancing, among others(Davis, 2008). From these options, the most appropriate procurement method for Southern Cross Station Redevelopment project is alliancing. Alliancing is an innovative and strategic construction procurement method. It is suitable for mega government infrastructure projects, such as the one in this paper. Advantages of alliancing include: greater flexibility that allow the client and other key stakeholders to make changes easily; greater innovation; allows parties involved to negotiate, agree and build strong relationship for future works(Davis Love, 2011); improved collaboration among stakeholders; equal sharing of risks and benefits; responsibility sharing; interest alignment; and quick dispute resolution(Rooney, 2011). Conclusion Construction projects are very dynamic in nature as they are usually executed by parties from different fields or professions. These projects are executed using varied procurement methods. Each of the procurement method used in construction industry has unique characteristics, advantages and disadvantages. This report has analyzed the procurement method used in executing the about A$700 million Southern Cross Station Redevelopment project. Construction of this infrastructure project started in 2002 and was completed in 2013. Its completion was delayed and it ran into cost overruns mainly because of the wrong procurement method that was used. The procurement method used in this project was PPP. The Southern Cross Station Authority, the agency that represented the Victorian State Government, entered into a partnership with Civic Nexus Pty Ltd to design, finance, construct, maintain and operate the project. The partnership is a 30-year agreement. However, PPP was not the most appropriat e procurement method because of the projects characteristics. This project required a procurement method that promotes equal risk sharing among parties instead of risk transfer. Therefore alliancing was the most suitable method for Southern Cross Station Redevelopment project. This procurement method has greater flexibility, promotes collaboration among parties, is based on risk sharing among parties instead of risk transfer, has less disputes and it brings parties with common interests together. References Acott, K., 2017. New Stadium Train Station on TRack for Bouncedown. [Online] Available at: https://thewest.com.au/news/wa/new-stadium-train-station-on-track-for-bouncedown-ng-b88472013z [Accessed 24 January 2018]. Al-Saadi, R. Abdou, A., 2016. Factors Critical for the Success of Public-Private Partnerships in UAE Infrastructure Projects: Experts' Perception. International Journal of Construction Management, 16(3), pp. 234-248. Anderson, S., 2012. Public, Private, Neither, Both? Publicness Theory and the Analysis of Healthcare Organizations. Social Science Medicine, Volume 74, pp. 313-322. Australian Government, 2015. 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The philosophy of economics marketing - Myassignmenthelp.Com

Question: Discuss aboutThe philosophy of economics marketing. Answer: Every company requires logistic management so as to facilitate performance of activities. Lack of logistic management strategies affect the performance. In this paper, we consider logistic management issues facing Hanjins Shipping Company. Typically, logistic management refers to supply chain management applied to satisfy customer demands via control, planning and implementation of effective storage, movement of goods, services and relevant information from origin to destination. The main logistic management issues affecting Hanjins Shipping Company are overcapacity and supply chain interruptions. These issues result to low shipping rates. In that connection, the company is putting a lot of pressure on the shipment process. These issues affect supply chain services. The main cause of logistic management problems in the company is based on mismanagement of finances required to facilitate supply chain services (Hausman, 2007). Again, poor planning decision in the logistic business aspe cts contribute to overcapacity. Consequently, failure of their mismanagement of financial and planning decision in the logistic business aspects is a shock to global commerce and logistics. This is clearly asserted by Joe Dunlap, the managing director of supply chain services in Hanjins Shipping Company. This is caused by mounting overcapacity in international shipping and depressed container rates. Mismanagement of financial and planning decision in Hanjins Shipping Company have left retailers and importers to face higher costs. They also face challenges in terms of service impacts as they struggle to search for other alternatives of transport. Logistic management facilitates performance of the company by lowering supply chain service costs. However, logistic management issues facing Hanjins Shipping Company pose negative impacts to the performance of the company. First, they interrupt supply chain services. In that connection, Hanjins Shipping Company is forced to freeze shipments. This results to loss of millions of dollars of merchandise held by the company. This affects the store stock for importers and retailers thus affecting the performance of the company. Another impact on performance is loss of competitive advantage in the market (Dann and Dann, 2007). Although Hanjin is one of the biggest shipping company in the world, retailers and importers affected by logistic management issues, mismanagement of financial and planning decisions will be forced to find other shipping companies so as to meet their demands. In addition, the performance is affected in terms of wealth margin. This is caused by exacerbating profit margin pressure. Therefore, additional costs and interruption of supply chain services impact the company negatively. This squeezes the profits earned by retailers who are forced to withdraw from Hanjins Shipping Company. Lastly, the impact of logistic management issues affect macroeconomic aspects of the company. This expose the company to bankruptcy and supply chain impacts. In that case, retailers are forced to re-evaluate their strategies on import so as to mitigate supply chain interruption (Holmes et al., 2015). This make the company to lose potential customers thus reducing the profit margin. Despite Hanjins Shipping Company facing logistic management issues and mismanagement of financial and planning decisions, the following recommendations will be appropriate to recover from negative impacts. Thus, poor logistic planning affects delivery deadline. The company should identify logistic practices that are cost effective. This will reduce logistic costs. This strategy will facilitate the company to achieve competitive advantage in shipping industry. Hanjins Shipping Company does a lot of shipping which will be propelled by this strategy hence remaining financially viable. Hanjins Shipping Company need to hire competent logistic management team. This strategy will assist the company to meet high customer demands. This will also enable the company to withstand fluctuating global business climate (Marshall, 2013). For this reason, the company need to initiate smart logistic management practices. Again, the company should outsource logistic providers so as to implement logistic practices. This will reduce mismanagement of financial and decision planning in the logistic business aspects. It will save money and time. Shipping is a complex process associated with logistic costs. The company need to have a reliable logistic management practice so as to reduce logistic expenses such as transportation, labor, administration and storage costs. The company should use alternative strategies such as private warehouses so as to have sustainable supply chain services. Lastly, the company should incorporate consolidated shipments. This is a method of shipping where an agent combines many shipping companies into one shipment. It is cost-effective and safer (Krugman, Obstfeld Melitz, 2012). Again, use of cargo insurance will assist in logistic planning. It is also important to incorporate strategies in outsourcing, using a single, integrated platform and supply chain visibility. Timely planning and optimized use of resources are among the recommendations to be incorporated by Hanjins Shipping Company. References Dann, S., Dann, S. (2004)Strategic Internet marketing. Brisbane: John Wiley Sons. Dann, S., Dann, S. (2007) Competitive marketing strategy. Frenchs Forest, NSW: Pearson Education. Hausman, D. M. (2007) The philosophy of economics: An anthology. 3rd ed. Cambridge: Cambridge University Press. Holmes, K, Hughes, M, Mair, J Carlsen, J. (2015) Events and sustainability.1st ed. Abingdon: Routledge. Krugman, P. R., Obstfeld, M., Melitz, M. J. (2012) International economics: Theory policy 9th ed. Harlow: Pearson Education. Marshall, B. (2013) Accounting Information Systems. Australian edition. Frenchs Forest, NSW: Pearson Australia.