Family Business Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Family Business - Research Paper Example This can foster a feeling of resentment among family members who are not qualified enough to do the necessary work, but share the name of the company’s founder. In such cases, the heads of family-run organizations have to deal with the uneasiness of other family members at the thought of hiring outsiders to be privy to the long-held family secrets. According to a survey conducted by PricewaterhouseCoopers to determine how family-run businesses achieve success, a number of the heads of such corporations choose not to involve extended family members in the making o important decisions even if the said members are considered as part-owners. In this survey, 15% of the surveyed family business leaders said that relatives such as in-laws do not have to be involved in decision-making (Miller and Le Breton-Miller 38). In a different survey conducted by the Egon Zehnder International organization among 720 family business executives and owners from Asia-Pacific, the Americas and Europe , over 60% of business managers felt that the lack of professional procedures and administrative structures is the biggest shortcoming of family-run businesses (Brun de Pontet and Aronoff 45). In addition, 55% of executives surveyed indicated that divergences among family members, due to a lack of accountability are another big problem. 60% of the respondents in this survey confirmed that family quarrels often get in the way of making good business decisions such as hiring external experts to deal with recurring problems (Brun de Pontet and Aronoff 46). From these two surveys, it appears that family conflict can result in the wrong decision being made due to the absence of an objective perspective. According to the KPMG and Family Business Australia’s biennial survey, which was conducted with 658 family-run businesses based in Australia, 57% of participants indicated that as family business leaders, they were concerned about the intentions of their potential successors, wheth er their children, or other relatives. In addition, 63% of the polled family business leaders indicated that they were not impressed by the abilities of their potential successors (KPMG and Family Business Australia Survey of Family Businesses 3). This corresponds with the findings of the Egon Zehnder International organization survey which also established that 60 % of the family business leaders had doubts about the proficiency of family members. According to these leaders, this was a common cause of conflicts among the family members (Brun de Pontet and Aronoff 46). It would seem that the biggest problem that family business leaders have to grapple with is the refusal of family members to accept the fact that they may not have the necessary skills to function in specialized operations. This can be a particularly difficult problem to solve because any skilled outsiders who are hired are likely to be met with hostility and subversive acts from disgruntled family members. Another pr oblem often faced by family business leaders has to do with making decision on strategic planning. Today, the family that is successful in progressing at a steady rise from generation to

Travel to Peru for Yoga Essay Example | Topics and Well Written Essays - 500 words

Travel to Peru for Yoga - Essay Example Other elements such as product price and ease of acquisition come into play. For instance, you have a car and you want somebody to clean it every day (ideal situation) because you feel bad about cleaning it every-day (actual situation) so you decide to outsource the services of an individual or a specialized firm to do this task at whatever cost. You don’t judge how to reach this ideal situation. So you won’t have a purchase in this situation. This is the second most important element in the buying process of a consumer. Once the consumer had identified the need for a product, the consumer will explore possible solutions to the needed problem. They will look for more information or less information depending on the choices they need to make as pertains to the identified need. There are two main sources for gathering information. They are external and internal sources. The internal source is already present in the consumers’ memory while the external source is obtained from either friends, family or from the press. The consumer will pay much attention to the internal information as opposed to the external information to make purchase decisions. Once the consumer collects all the information, they will explore more alternatives that seem suitable to satisfy their needs and pick the one that befits them. To make this possible, they will evaluate the attributes of a product. Each consumer has a unique way of evaluating these attributes. All brands are not equal to all consumers; consumers prefer different brands to others depending on how they perceive these brands.Consumers will also use the information that they had collected previously to make the evaluation easier for them. At this stage the consumer has evaluated all the options available with regards to the products. The remaining part is to make a purchase for the product that ultimately fulfills their need. This stage may also be

How Technology Affects the Business Environment Essay Example for Free

How Technology Affects the Business Environment Essay During the last century, the world has been through a technological revolution. We have in few years moved from being a world where it could take months to receive a message, to being a world where it takes microseconds. Within most industries, technology is a very important factor to succeed. Especially in certain industries, like energy, transport and financial services, technological innovations have been vital to make those industries develop into what they are today. Companies are always struggling to acquire better technology, so that they in a more efficient way can produce their products or carry out their services. It is therefore important for companies to keep an eye on new technological innovations. The technological elements of the external environment are a part of the LoNGPEST analysis, which is being used to scan a firms environment, so it in a best possible way can adopt to it. In this essay, I will attempt to explain how technology has been a vital reason for the globalization, and how it has made the world more efficient. There is no doubt that the development of information and communications technology is one of the causes for globalization. The table below shows the reduction in communicating and travelling prices. According to the table, the price of a 3 minutes phone call have been reduced by 98,6%. The reduction in air transport costs per mile is 74%. There is no doubt that such reductions encourage companies to expand geographically. In addition, the rapid growth of the internet has made it possible to share information with the rest of the world in microseconds. Eric Samuels states that one of the industries that has grown because of information technology is the financial service industry. He states that â€Å"delivery of services has become more efficient because of the application of technology.† What he is saying, is that the financial services provided are being done more effective and at a lower cost than before. By using the internet, companies can reach out to the whole world without spending a pound. In addition to claim that the financial service industry has grown due to the information technology, Dr. Nicolas Pologeorgis also states that the industry, since 1998, has gon e through a rapid geographic expansion. This especially applies to wealthy nations, like countries from Europe and USA. He claims that â€Å"customers previously served by local financial institutions are now targeted at a global level.† Dr. Pologeorgis believes that one of the reasons for this, besides deregulation and more trading between countries, is the information technology. Services like ATMs and websites is being used to develop a more efficient relationship between long distance customers and suppliers. A study about globalization of the banking industry, states that improvements in technology â€Å"have facilitated greater geographic reach by allowing institutions to manage larger information flows from more locations and to evaluate and manage risks at lower cost without being geographically close to the customer.† One example of a company from this industry that expanded geographically in the 90’s is Goldman Sachs (GS). I 1990, Robert Ruding and Stephen Friedman decided to focus on GS global operations. During the 1990’s, GS went through a rapid geographical expansion. Today, GS has offices located in all major financial centres around the world. I have made a comparison between the growth in the financial service sector and the use of internet worldwide. It was in the 90’s that the internet use exploded. In 1995, 16 million people were connected to the internet (0,4 of world population). The table below shows that the use of internet exploded about the same time that the financial service industry, according to Pologeorgis, really started expanding geographically. However, it is not only the improvements in communication and information technology that has contributed to a more efficient and globalized world. Another industry that has been affected by improvements in technology the last century is the oil and gas industry. An article made by naturalgas states that â€Å"new innovations have reshaped the industry into a technological leader9.† A report made by the U.S. Department of energy in 1999 shows that if technology had stagnated in 1985, America would have needed twice as many wells to produce the same amount of oil and gas. However, because of technological improvement, we only need half as many wells to produce the same amount in 1999. In 1999, the America used 22 000 less wells to produce the same amount as they did in 1985. A statistical review of world energy made by BP illustrates how much oil and natural gas that has been produced in each country and worldwide from 1965-2010. Worldwide, the total development of oil has increased from 31,806,000 barrels daily in 1965, to 82,095,000 barrels daily in 2010. The development of oil has increased from 96,9 billion cubic feet daily in 1970, to 309 billion cubic feet daily in 2010. The main reason to the increase in production is off course the growing demand, but according to naturalgas it would have been impossible without the improvement in our technology. Consumption of oil increased from 30,783,000 daily in 1965 to 87,382,000 barrels daily in 2010 and consumption of gas increased from 63 billion cubic feet daily in 1965 to 306,6 billion cubic feet daily in 2010. Another industry that has developed because of new technology is the nuclear industry. Numbers taken from NEI shows that 13,5 of the world’s electricity production IN 2010, was provided by nuclear power. Furthermore, NEI states that â€Å"in total, 15 countries relied on nuclear energy to supply at least one-quarter of their total electricity†. According to NEI, one example of a country that is dependent of nuclear energy is France. 74,1 percent of the energy produced in France was generated through nuclear energy. The statistical review published by BP, shows that the consumption of electricity generated from nuclear power has increased tremendously since 1965. In 1965 the global consumption of terra hours has increased from 25,7 in 1965 to 2767,2 terra hours in 2010. FINN UT OM DAILY In this essay, I have tried to show how technology has been a vital part of both the globalization and the development of a more efficient world. I have found that information and communication technology has been important for globalization. Lower costs of travelling and communicating overseas encourage people to expand geographically. In addition, the fact that use of internet has developed into a common thing, especially in developed countries, makes customers able to do services that they could not do before. My essay also shows how the oil and gas industry have become more efficient, and how the nuclear industry has grown due to technological improvements. Reference list: Department for Business Enterprise Regulatory Reform (2008) Globalisation and the changing UK economy, page 3 [online]. Available from: http://www.bis.gov.uk/files/file44332.pdf accessed at 22.11.2011. British Petroleum (2011) Historical data [online]. Available from: http://www.bp.com/sectionbodycopy.do?categoryId=7500contentId=7068481 (then click on historical data) Accessed at 23.11.2011. U.S. Department of energy (1999) Environmental benefits of advance oil and exploration and production technology [online]. Available from: http://www.fe.doe.gov/programs/oilgas/publications/environ_benefits/4envben.pdf Accessed at 22.11.2011. U.S. Department of Energy http://www.fe.doe.gov/programs/oilgas/publications/environ_benefits/3innov.pdf Funding Universe, The Goldman Sachs group INC [online]. Available from: http://www.fundinguniverse.com/company-histories/The-Goldman-Sachs-Group-Inc-Company-History.html Accessed at 22.11.2011. Goldman Sachs (2011), who we are – at a glance [online]. Available from: http://www2.goldmansachs.com/who-we-are/at-a-glance/index.html Accessed at 22.11.2011. Internet World Stats (2008), internet growth statistics [online]. Available from: http://www.internetworldstats.com/emarketing.htm Accessed at 21.11.2011. Internet World Stats (March 31, 2011), internet usage statistics [online]. Available from: http://www.internetworldstats.com/stats.htm Accessed at 21.11.2011. Dr. Nicolas Pologeorgis (2009), The Globalization of Financial Services [online]. Available from: http://www.investopedia.com/articles/financial-theory/09/risk-free-rate-return.asp#ixzz1eNeBhksO Accessed at 20.11.2011. Eric Samuels (2011), Marketing of Financial Services [online]. Available from: http://www.measurethat.com/?cat=5 Accessed at 20.11.2011. Natural Gas (2010), Natural Gas and Technology [online]. Available from: http://www.naturalgas.org/environment/technology.asp Accessed at 22.11.2011. Nuclear Energy Institute (2011), world statistics, nuclear energy around the world [online]. Available from: http://www.nei.org/resourcesandstats/nuclear_statistics/worldstatistics/ Accessed at 22.11.2011. Wall Street Journal (2010), A Brief History of Goldman Sachs [online]. Available from: http://online.wsj.com/article/SB10001424052748704671904575193780425970078.html Accessed at 21.11.2011 Allen N. Berger, Qinglei Dai, Steven Ongen, David C. Smith (2002) To What Extent Will the Banking Industry be Globalized?A Study of Bank Nationality and Reach in 20 European Nations, page 3 [online] Available from: http://siteresources.worldbank.org/INTFR/Resources/banking_industry_globalization.pdf Accessed at 22.11.2011.

Comparison of UK Building Contracts

Comparison of UK Building Contracts Assessment: Terms of Contract; Critical Evaluation; Question standard practise Samuel Perkins Introduction This assignment aims to compare and contrast the various aspects of both the SBC/Q 2011 Standard Building Contract against the NEC 3 Engineering and Construction Contract: priced with Bill of Quantities 2013. Throughout the assignment I will abbreviate these to SBC/Q 2011 and NEC3. I aim to evaluate the documents involved in the making of the contracts (10%/350 words), the roles of those involved in the performance of the contract (20% / 700 words) , the Contractors responsibility towards the design (20% / 700 words) and finally concentrating on the payment aspect of each contract (50%/1750 words). The contracts will be assessed regarding revisions made in September 2011 to the Housing Grants, Construction and Regeneration Act 1996. My word count will be including the above mentioned areas not exceeding the 3500 words as required. Documents Making up the Contracts In the SBC/Q 2011 contract under provisions, the contract documents are defined in clause 1.1. The issue with this is that the contract sum analysis and any schedule of rates are dependent on the respective party and can therefore not be deemed as contract documents under this condition. For the employer this would mean that the main, responsibility for the correct descriptions and quantities would be placed upon them mitigating risks for the contractor. Regarding any discrepancies within the contract documents it is the responsibility of the Contractor to inform the Architect of any differences, however it should be noted that they are under no obligation to freely search for any discrepancies. Yet under condition 2.15 it states that if the contractor becomes aware of any such departure, error, omission or inadequacy as referred to in clause 2.14 that he shall immediately give notice with appropriate details to the Architect/Contract Administrator, who shall issue instructions in th at regard. The discrepancies are related to items found in condition 2.15(1,2,3,4,5) which cover the contract drawings, contract bills, instructions issued by the architect of contract administrator and finally the CDP documents. From the above we can see that SBC/Q 2011 shows a reasonable understanding to identifying contract documents. The main difference between the NEC3 and SBC/Q 2011 is that the NEC3 document doesnt define the term Contract, therefore there is no defining contract documents unlike SBC/Q 2011. It combats this within the guidance notes providing samples concerning a standard form of tender and form of agreement substituting themselves for actual contract documents. In the Core Clauses 12.4 it states that the contract is the entire agreement between the parties therefore combining the previously mentioned procedures involving the project management and contractual duties, liabilities and obligations. As discussed by Eggleston (2006) the term entire agreement has no legally definable definition however the term entire contract which is also known as a sole agreement clause does. Therefore the contract can only be completed to the written terms and conditions, this excluding any implied terms of common law remedies this relating to any legislation created by parliament as noted in (Galbraith, 2014). Like SC/Q 2011, NEC3 makes provisions regarding any discrepancies and contradictions between contract documents in Core Clause 17.1 however is much less distinct and clear cut in its definitions and clarity. The Clause states that The Project Manager or the Contractor notifies the other as soon as either becomes aware of an ambiguity or inconsistency in or between the documents which are part of this contract. The Project Manager gives an instruction resolving the ambiguity or inconsistency. However this does conflict with Core Clauses namely 12.3 and 18.1 which would then suggest that the responsibility to report inconsistencies lies solely with the Project Manager. Roles involved in the performance of the contract The JCT contracts require the Architect to act as the Contract Administrator in regards to performance of the contract on behalf of the employer. Under SBC/Q2011 the role of the architects expressed duties is covered in conditions 2.8 (1.2.3.4), 2.9, 2.11 and 2.12. These range from ensuring documents are supplied to the Contractor in accordance to the release schedule and initial contract documents to discharging the contract. As these are obligations of the architect they are therefore legally accountable for the area of contract administration. Given the Architects professional position and experience it is there duty to ensure the contract is carried out under the implied terms of common law and to the terms and conditions of the contract, it is crucial that the Architect stays unbiased when making decisions. SBC/Q2011 states under condition 2.4 that it is the duty of the Contractor to continue with the work on a regular basis and attentively and have the works finished by the agreed completion date. The work should progress steadily and in accordance to the contract in regards to time as noted in (Chappell 2012). If the Contractor is to make a breach of duty in respect of non-performance (not partial performance) of the contract would result in complete disregard to the contract terms and conditions which would cause total non-performance. Provisions are made to non-performance regarding the employers in conditions 8.4, 8.5 and 8.7 which guarantees the Contractors continual advancement of works in the event of unpredictable circumstances delaying works and the rectification of defect works. Unlike SBC/Q 2011, NEC3 does not mention the Architect under any of its clauses which removes any context of the Architects involvement. Under Core clause 10.1 it stipulates that the legal transitions and agreements and between the Employer and Contractor and subsequently the Project Manager and Supervisor. The provision of NEC3 states that the association of the Employer is to be related regarding their participation within the roles of the contract administration and are therefore a legal entity. The Project Manager exclusively has authority to change the work information, including issues and discharging any works instruction all of which is stated under Core clauses 14.3 and 27.3. Therefore the Project Manager is acting as the Employers Agent , allowing them to have a greater influence in decisions, which contrasts SBCQ/2011 whereby the Architect of Contract Administrator is more independent and acts in sovereignty. It is vital that the appointed Project Manager under NEC3 be it a single person or firm is competent and professional in order to achieve successful completion of the works and the contract due to the wide-ranging duties and obligations they are assigned. The Project manager and Supervisor can delegate works to other staff members in order to carry out their duties. This is noted under Core clause 14.2 however, before this can be done the Contractor must be notified of what actions each member of staff has been assigned. NEC3 also differs variably from SBC/Q2011 in its lack of expressed terms stating the Contractors obligation to continue with the works regularly. Consequently it relies on the provisions of Core clause 20.1 which state the Contractor is to Provide the works as defined in clause 11.2(3) along with disciplinary procedure that corner any delays to key dates, damages and or the payments scheme. It is important to note that NEC3 has no provisions in any of its Clauses that concerns any expressed terms that state the Project Manager should be neutral and equal, as mentioned above they are effectively acting as the Employers Agent. Therefore any concerns regarding the issues of impartial and unbiased contract administration is an implied duty and should therefore be overseen by the implied terms of common law remedies as displayed in Constain Ltd and Others [Corber] v Bechtel Ltd Anor [2005]. The Contractors Responsibility for Design Regarding the responsibility of the design aspect the Contractor should have no involvement, except if it has clearly been requested and defined within the contract documents under the parameter of the Contractors design responsibility Chappell (2012). It is also worth mentioning that the term design should be used broadly and should also encompass not just drawings but also any written documents relating to the Contractors design proportion for example specifications and schedules of work. Lupton and Cornes (2013) The SBC/Q 2011 has previously required an additional supplement which is provided through the Contractors designed proportion part of the contract. With the Contractors design proportion the employer will then prepare their requirements known as the Employers Requirements, which is created from the performance specification that consequently then allows the Contractor to formulate and submit their proposals known as the Contractors Proposals. These are required when creating the contract documents and subsequently the contract sum. Under clause 2.13.2 it states that the Contractor shall not be responsible for the contents of the Employers requirements or for verifying the adequacy of any design contained within them. Furthermore under clause 2.2 titled Contractors Design Proportion, it states what the Contractor should do where the works contain a Contractors Design Proportion. From these clauses it should be made clear the difference between the Contractors Design Proportion and the remainder of the job is to reduce any conflicts or confusion throughout the project. The Contractors liability is noted in clauses 2.1 and 2.19.1 and ensures that they do not exceed the level of works required, due to the Contractors liability being near equal to the Architects the liability is restricted to the Contractors skill and attention to details in their works. The NEC3 differs from SBC/Q 2011 and does not give the Contractor as much flexibility of which the Contractors design can operate. Clause 60.3 of NEC3 states that any inconsistencies with site information are the responsibility of the Employer. It is noted in Eggleston (2006) that due to the fact the Employer should have taken into account the best site conditions as per 60(12) yet logically the Contractor should have allowances and precautionary measures in place, which is contradictive. The Contractors basic obligation is covered in core clauses 20.1 and the obligation for Contractors designed work in clause 21.1 which states what work and designs are required from the Contractor and that the Employer should state the works information, the criteria to which he requires designs to conform. NEC3 is written to take account of common law remedies unlike SBC/Q2011 which uses expressed terms of provisions when discussing the Contractors liability regarding the works being fit for purpose. NEC3 optional clause X15.(1.2) limits the Contractors liability to reasonable skill and care much like SBC/Q2011 clause 2.1. This clause could be interpreted differently regarding fitness for purpose as the Contractor could complete the works with reasonable skill and care however could not be meeting their contractual obligations. Clause 21.2 states that the Contractor is responsible for the design standards, materials and products unless it is stated otherwise in the works information. As common law remedies implied on any warranties unless they are excluded. Payment SBC/Q 2011s provisions states that the parties involved should agree to suitable staged payments or Milestones as they are more commonly known, however if staged payments cannot be agreed upon the contract provisions will default to interim payments as per condition 4.9 (1.2) where a monthly valuation is submitted. It is therefore crucial that all valuations submitted for interim certificates are reasonably accurate and do not need to be perfectly correct, this will allow for any errors from miscalculations created from the difficulty of the matter as revealed in Secretary of State for Transport v Birse-Farr Joint Venture [1993] 62 BLR 36. Interim amounts account for the completed work at Bill of Quantity rates along with a percentage of lump sums, the final amount is due when the whole work has been re-measured in accordance with the Bill of Quantities. Eggleston (2006) Interim valuations should be calculated via gross valuation, which include for the deduction of retention and any previously arranged payments certified as due. Provisions regarding this are found under 4.16 (1.2.3) discussing work executed, site materials and listed items. Yet staged payments should be agreed before the work is commenced and should correlate to relevant milestones and work sections. However this procedure should require periodic re-evaluations due to the administrative nature. Regarding in the event of insolvency as previously mentioned, the site materials in particular any stored off-site can be a difficult to identify whom they belong to, however noted in the provisions of SBC/Q 2011 under Terms of Conditions 4.17 (1-5) these materials become property of the Employer provided they are accounted for in an interim certificate. The Contractor must also provide proof to ensure all offsite materials are insured. Therefore any implied terms of common law remedies regard ing SGA 1979 are in excluded of their respective powers. To act upon the above the retention of title clause must be completed in order to identify the route the transfer of title takes, this is usually done methodically working through the supply chain from the Contractor, Subcontractor and Manufacturer, again checked against interim payments of that Contractor. The principles of payments should be governed by terms of the contract provisions and also by any implied terms of common law remedies like SGA 1979 and SOGSA 1982 as noted in Hughes, Mills, and OBrien (2008). In SOGSA 1982 it establishes that a payment should be made to any provider of work including the provision of any good or services supplied. However if it is expressed in the terms of the contracts provision a right to set off can be put in place to exclude any implied terms of common law remedies as seen in the case of Acsim (Southern) Ltd v Danish Contracting and Development Co Ltd [1992] 47 BLR 59 and Gilbert-Ash Northern v Modern Engineering Bristol) Ltd [1974] AC 689. Any interim certificates under the provisions of the SBC/Q 2011 are to adhere to the dates specified under the contract particulars throughout the contract and its conditions. Condition 4.10 (1.2) under contract provisions the contractor should receive a written notice stating the amount to be paid and the methodology used to calculate the sum, this should be received no less than 5 days after the submission of the interim certificate from the Contractor. It is therefore common practice for a reference to the interim certificate and copy of the valuation to be prepared by the Contract Administer or Quantity Surveyor. It should be noted that in comparison to either the Contract Administrator or Architect they would be held accountable to the parties involved due to the concern of skill and care. Regarding the final payment a few conditions must be mentioned firstly condition 4.12 (1-7) which covers details interim payments final date and amount most importantly that the final date for interim payment shall be no later than 14 days from the original issuing of the interim certificate. It also provides instructions on how to proceed with any pay less notices. Secondly the under the provisions of condition 4.15 (1-9) under title Final certificate and final payment instructs that the final payment will match the final certificate. The final payment should amount to the total of the contract price while taking into account all additional works and omissions, less the staged payments that have been paid throughout the projects work. As discussed by Ramsey (2000)the case of Lubenham V South Pembrokeshire DC [1986] 33 BLR 39 showing how the Contract Administrator should abide to the provisions of expressed terms of the contract while performing their contractual procedure, in which the contractor will have no motive or reason to challenge the certificates issued. NEC3 differs from SBC/Q 2011 in the methods used relating to payment schemes. Firstly it is the Project Managers responsibility to assess the amount of the payments due at the assessment date and consequently they are accountable to ensure the submission of application to confirm payment. The Project Manager is also responsible for determining the first assessment date. This is found under Core Clause 50.1 under title assessing the amount due. Clause 51.1 stating that the latest dates that the Project Manager can certify the payment are fixed throughout the contract relating to each assessment date, this is usually a period of 1 week from the date. NECs secondary option Clause X16 (1.2) is similar to condition 4.20 (1.2.3) of SBCQ/2011 in its replication which defaults the retention percentage to either 3% unless otherwise stipulated under the contract particulars. Regarding the Core clauses that relate to retention there are no expressed terms found in the contract provisions. Core Clause 50.3 is designed to be a powerful motivation to the Contractor and can incur a 25% deduction until the Project Manager confirms a programme submitted by the Contractor, however no provisions are made that make any reference to the final certificate, which consequently means that certificates have no order of precedence and controversially no contractual status. As we are aware it is the Project Managers responsibility under Core Clause 50.1 to access and certify each payment amount at the given assessment dates, along with this under Clause 50.4, it states that the Project Manager should take into account any submissions by the Contractor that however the responsibility remains on the Project Manager the amount due regardless if he has not received a submission from the Contractor. Any assessment that is issued after the defect certificate will be considered as is common practise as the final assessment which will lead to the final certificate, therefore from clause 50.4 it is understood that without the Contractors submission of a final account before the last assessment they will lose any influence they have regarding payment. However this clause may cause disputes between the Contractor and Project Manager regarding the information supplied from the contractors original submitted programme, as this considered to meet the requirements of the contracts agreement. Clause 50.3 is biased in its favouring to the Project Manager, therefore the Contractor may wish to seek adjudication if they believe they have any conflicts throughout the project as the clause provides the opportunity to invoke a penalty clause. NEC Core clause 50.5 is designed to provide motivation to the Contractor to submit a programme which contains information required for the contract, within this clause it is understood that if the amount has been inaccurately assessed is difficult to comprehend. It is implied that the Contractor will not be entitled to any correction of the next payment certificate. Usually it is common practice for inaccurate assessments to be corrected on the later payment certificates without the Project Managers admission. However, if the Project Manager does not correct the assessment in question again the Contractor can seek adjudication by an Adjudicator. If the Project Manager does admit to a mistake following a tribunal or adjudication, under the provisions of core clause 51.3 it is liable to attract interest calculated from the date when the increased amount would have been certified if there had been no dispute. Core Clauses 11.2(21), 11.2(22) and 11.2.(28) relate to Payment in Main Option B Priced Contract with BOQ. The Term bill of quantities is defined in clause 11.2(21) which define its meaning and therefore the how the BOQ relates to other clauses. Clause 11.2(21) is very similar to Core Clause 11.2(20) of the main Option A priced contract with activity schedule. Finally Core Clauses 11.2(28) and 11.2(31) define the completed work ensuring it cannot be misinterpreted regarding payment terms. References Chappell, D. (2012) Understanding JCT standard building contracts. 9th edn. London, United Kingdom: Taylor Francis. Eggleston, B.Ce. (2006) The NEC 3 engineering and construction contract: A commentary. 2nd edn. Oxford, UK: Wiley, John Sons. Galbraith, A., Stockdale, M., Wilson, S., Mitchell, R., Hewitson, R., Spurgeon, S. and Woodley, M. (2014) Galbraiths building and land management law for students. 6th edn. Oxon: Routledge. Hughes, S., Mills, R. and OBrien, P. (2008) Payment in construction: A practical guide. Coventry: RICS Books. Lupton, S. and Cornes, D.L. (2013) Cornes and Luptons design liability in the construction industry. 5th edn. London, United Kingdom: Wiley-Blackwell (an imprint of John Wiley Sons Ltd). Ramsey, Vivian. Construction Law Handbook. 1st ed. London: Thomas Telford, 2000. Print. Cases Acsim (Southern) Ltd v Danish Contracting and Development Co Ltd [1992] 47 BLR 59 and Gilbert-Ash Northern v Modern Engineering Bristol) Ltd [1974] AC 689. Constain Ltd and Others [Corber] v Bechtel Ltd Anor [2005]. Lubenham V South Pembrokeshire DC [1986] 33 BLR 39 Secretary of State for Transport v Birse-Farr Joint Venture [1993] 62 BLR 36.

Resolution in A Midsummer Nights Dream :: A Midsummer Nights Dream, William Shakespeare

In Shakespeare's A Midsummer Night's Dream, the conflict is based upon pure confusion. The main characters are involved in a mix-up of epic proportions. The story begins with Demetrius pledged to marry Hermia, daughter of Egeus. Conflict arises immediately when Lysander is shown to have won Hermia's affection and also her undying love. This situation is clouded even further when Helena, a friend of Hermia is found to be in love with Demetrius. The crowning mix-up that throws the events of the play into action is the strange relationship between Oberon and Titania, the ruling fairies. Because of his untamed jealousy over Titania's new servant, Oberon orders Puck to sprinkle love juice in Titania's eye and, taking pity on Helena, the eyes of Demetrius as well. A solution is very close at hand until Puck mistakes Lysander for Demetrius and causes Lysander to fall desperately in love with Helena. This is the main conflict. Characters that are desperately in love are torn apart by forces they c annot control. Helena is in great anguish because she cannot have Demetrius and now it seems that Lysander is mocking her over this very fact. Hermia is also in terrible pain due to the sudden change of heart seen in her lover. Demetrius is still seeking Hermia with no hope of success and Lysander is trapped in the daze of love for a woman that is not his true love. It is with this feeling of utter helplessness that Shakespeare ends act II.   Ã‚  Ã‚  Ã‚  Ã‚  Although this is one of Shakespeare's comedies, an interesting way to resolve the story would be to take the traditional tragic approach: everyone dies. Hermia, caught between her father's wish that she marry Demetrius and her strong love for Lysander, surely will be driven to madness by the loss of Lysander's love. A loss so great will have no other effect than to drive Hermia to suicide when she confronts Lysander and is mysteriously and continuously turned away. With Lysander's own sword, she cuts herself down and bleeds to death at her lover's feet. Confused by the act and possibly shaken back to reality by it, Lysander awakens from his daze and sees his love dead, his own sword plunged through her body.

Chinese Communist Party Essay

Throughout the countries early history, a series of dynasties ruled larger and larger territories to what has now become known as the People’s Republic of China. All through the 19th century China faced European powers that were militarily stronger than they were. The humiliation brought on by the imperialist powers during the previous century sparked an early revolution in the 20th century against the dynastic regime that had ruled for so long. By 1911 the revolutionist won the battle and the first elected president (Yuan Shikai) of the Republic of China was named thereby putting an end to the monarchies that had ruled for so long. Although officially titled the Republic of China, it wasn’t truly a republic until 1949. In 1948 the prevailing Chinese Communist Party (CCP) defeated the then ruling Nationalist Party. The current government was established in October 1949 after CCP chairman Mao Zedong declared the formation of the People’s Republic of China (PRC). This effectively brought an end to Western imperialist involvement in China because the communist government set up a one-party state that was to be ruled by the CCP. Under Zedong’s leadership, China began down the long road of economic recovery. In 1953, with the assistance of the Soviet model of central planning, the Communist set forth a series of Five-Year Plans to dramatically reorganize essentially all aspects of Chinese life. This involved a focus on the development of basic heavy industry, a progressive socialization of Chinese agriculture and the suppression of non-communist ideals within the country’s religion, press and schools. Although the plan reduced inflation, restored communications and reestablished domestic order, the Chinese began to back off from their original dedication to heavy industry, which was a mainstay of the Soviet model. By the end of the 1950’s China began to focus on the agricultural sector again and eventually broke their ties with the Soviets in 1960. In 1966 Zedong launched the Great Proletarian Cultural Revolution, which was a back-to-the-basics movement. The intentions with the Cultural Revolution were to stamp out the heavy industrialization and the â€Å"bourgeois† ideas and customs presented with the Soviet’s central planning model. The movement lasted for a decade and severely set back China’s economy. China’s foreign relations were strained early on in the Cultural Revolution; although, in 1970 things began to take a turn for the better. By 1971 the United Nation’s China seat that had been held by the nationalist government of Taiwan, was given to the People’s Republic of China. In 1976 after Zedong’s death, a group of old-guard radicals known as the Gang of Four were arrested and charged with the crimes of the Cultural Revolution thereby signifying the formal conclusion of the crusade and a new beginning for China’s economy. By 1978 moderate reformer Deng Xiaoping obtained control of the Chinese government after being removed from the vice premier public office by the Gang of Four in 1976. This marked a significant turnaround for China because Xiaoping believed in the idea of alleviating poverty via economic development. He led the economic reform with a simple slogan that promoted the â€Å"Four Modernizations† of agriculture, industry, technology and national defense. Xiaoping backed up his ideals by initiating a reform of the old communal agricultural system. The reform promoted land privatization and gave an incentive for people to work efficiently and sell their surplus. In addition he rejuvenated the military academies that had been neglected during the Cultural Revolution and he sanctioned an Open Door policy with foreign nations. The policy reversed the long lasting self-sufficiency and isolationist viewpoints held in previous decades, thus fostering the foreign relationships necessary to adopt new technology, which has assisted with the modernization of China’s industry. The reforms set in motion by Deng Xiaoping significantly improved the standard of living for many of the Chinese people. His modernization movement was so successful that by the early 1990’s, figures that indicated the people’s average incomes had tripled since he took control of the country. The modernization didn’t come easily though. For example, after people began have a better understanding of the individual freedoms and rights enjoyed by Western culture, student protest became commonplace throughout the 1980’s as the Chinese people struggled for further reforms to add more choice in their daily lives. The unrest came to a head in 1989 when students and others joined together for a demonstration in Tiananmen Square, Beijing. Eventually armored troops stormed the city center killing numerous defenseless civilians to put an end to the demonstration. Although the Tiananmen Square incident hurt the country’s foreign relations to some degree with ti me, ties were mended. Throughout the 1990’s China’s international reputation greatly improved. In fact, the United Kingdom and Portugal, respectively, handed over control of Hong Kong in 1997 and Macao in 1999 to the People’s Republic of China. This was a tremendous accomplishment for the then newly elected president, Jiang Zemin. Zemin continued to pursue the economic liberalization started by Deng Xiaoping. In addition to the transfer of power in Hong Kong and Macao, he also successfully negotiated a trade agreement with the United States that reduced barriers to commerce between the two countries. The world over took this as the next step in China’s Open Door policy. This in turn resulted in bilateral trade agreements with many other nations. By December 2001, China was formally admitted into the World Trade Organization marking what will become the rebirth of the Chinese economy. CULTURE Over 20 percent of the world’s population lives in the PRC. Most of the country’s inhabitants (92 percent) are considered ethnic Han Chinese. Approximately 5,000 years ago people began settling the plains and plateaus of northern and central China. These people eventually absorbed the residents of southern China 2,000 years ago, which spawned a shared culture and the people known today as Han. Minority nationalities make up the remaining 8 percent of the population that include ethnicities such as Mongols and Tibetans. The scarcely settled regions of western and southwestern China are home to most of the minorities. In 1982 China became the first nation with a population that just exceeded 1 billion. By 2004 China’s estimated population has grown to 1,294,629,600. The country is showing signs of decreased population growth rates in conjunction with declining fertility and birth rates. Since the Chinese Communist Party came into rule in 1950, the average number of children born per woman during their lifetime (fertility rate) declined from 6.2 to 1.7 in 2004. Over the same period, the birth rate dropped from an average of 45 births per 1,000 people to an approximated 13. This in turn has had a dramatic affect on the population’s growth rate, which was reduced from 2.25 percent in the early 1950’s to .59 percent in 2004. Even with these reductions, China’s population still increases by the millions each year. Although the nation’s economy grew significantly during this time period, China continually faces the problem of gainfully employing the millions of new wor kers entering the workforce each year. The fertility rate has dropped primarily because of government intervention. For example, couples have been encouraged to marry at an older age than what was previously common. In addition, the state began a campaign in 1979 to prevent couples from having more than one child. To assist with the one-child policy, abortion has remained legal and more public health facilities were created to distribute birth-control devices and information. Beyond these measures, women who become pregnant that already have a child will often be coerced to terminate their pregnancy due to social and administrative forces. Although the one-child policy still remains active, there are times when it’s not strictly enforced. This is often the case for females whom are considered minorities. Due to the high mortality rate among minorities, non-Han people have typically been granted more cultural freedom by the government to have larger families. This stance also serves the government who wishes to appear to be sympathetic towards the desires of the various ethnic groups within China. The one-child policy has led to an uncommonly high ratio of males to females. The preferences for males are due in part to a complicated set of cultural traditions. For example, the birth of a son ensures that the family name will be carried on. Sons are also necessary to be able to fulfill the customary requirements of ancestral worship. Most importantly, men are charged with the obligation of taking care of their natural parents once old age sets in. Women also care for their husband’s parents which can make it difficult financially for the parents of daughters in old age because the Chinese government provides little to no retirement funds in rural areas where a majority of the population is located. To adhere to the one-child policy the Chinese often take what would elsewhere be considered extreme measures to ensure the birth of a son. Males are so preferred that it’s common to see baby girls abandoned and left for adoption in public places. Some employ new technologies to determine the sex of unborn fetuses so that a pregnancy can be terminated if a daughter is expected. It’s also not uncommon to hear of baby girls being killed soon after being born so that another attempt at a son is possible.

Evaluation of Human Resources Essay

Businesses have to control their resources closely, this is because Human resources are needed in the business and is also monitored because if some staff are not doing their work correctly then they are likely to be replaced with someone that is better. If the business is to expand then the business needs to employ staff with certain ability that will benefit their business. The Human resources can improve the businesses performance in many ways. There are two main processes which are looked at when managing human resources. The most important is to employ the correct people for the job, people that will carry out the job role correctly. Then the correct resources have to be provided for them so that they can carry this process out to the best of their standards. Treating these employees with care and sensitivity is important. They are not like physical or technological resources; humans need to be dealt in certain ways, as they are protected by legislations and laws. In some businesses, there will be a constant change of different demand of products that the customers wish to purchase, for this reason the staff will have to be trained for any of these occasions. This is how they improve there human resources. They also look at how many skills the employee has when they are searching for new employees. They will check whether that person can be used in more then one job position of that store, how many skills they consist of. Coordination of the teams in different types of businesses is very important in ensuring that they meet the targets that the company sets them. When all employees of the team complete their assigned roles the team will run more smoothly. It is also important that a manager is always there so that they can supervise his staff and also if there is a problem that they might not be able to handle the manager will defiantly being trained to deal with the situation. Monitoring the performance of a team and letting them know of there good work is a good way to keep the staff motivated. There are certain ways to monitor the way that businesses monitor their staff. Firstly they can make sure that the staffs are reaching the targets that are assigned to them. Also sales figures can be looked at, seeing whether the team has overspent or under spent the budget that was assigned to them. Finally last way to monitor the performance is to record the number of compliments, or complaints that that member of staff has received from the customers. Individual and team appraisals are also a good way to keep the team motivated. Liaising within departments in a business is very important in keeping the employees on talking terms with people in other departments. It is essential that they work with each other so that they can coordinate with each other and progress is completed rather then slowed down. One way to make sure that the teams work together is to encourage team building exercises, so that the employees can get to know each other more. Many people from the same level within the organisation are told to meet with other people from other departments, not necessarily physically, but through the internet. To ensure that the employees know how the business works, and what there job role entitles, they should know about the background of their organisation. There will have to be good communication and respect shown when the people of the company are talking to each other. People will talk to others in a different way depending on there role, or what they have achieved. With there superiors there will be more respect shown then others like people below them in the organisation. In some businesses managers will refer to each other using there titles but many others, they will be referred to on first name bases. It is also important to communicate with the employees, make sure that they know the terms of there contract with the job that they have with you, whether they are allowed to have a second job or not, these little things. If they choose to have a second job, they should tell their role manager about it, and also the job should be in a non-related company. Managers can use incentives to keep the workforce encouraged to work harder and harder. There are many ways in which employees can use these incentives to keep them working, they can be rewards, little things that will make the workforce feel that that are being appreciated. These incentives also have to be worth of value to the employee that is earning them, or they will not want to earn them. It is always good to offer a variety of choices for the employees to choose from. This way they can have different things every time that they work hard. Businesses usually encourage there employees to be creative, and use their initiative. This is to adapt with any change in the market, so that the company is easily adaptable, and these companies are more likely to succeed. Because companies can compete all over the world using the internet, these companies’ encourage their employees to think creatively and use their imagination. Many small businesses become successful by being creative and using their initiative. Organisations can get their work done in two different ways, one in-house, where the employees that they employee do the work for them, or the organisation can outsource their work, where they pay some other company to do the work for them. Evaluation of Technological Resources: When looking at resources which are technological, there are many improvements that can be made in a business. Technological resources would not be hardware; they would fall under the category of software. They are managed in similar ways to other resources to ensure that they are not damaged, and if there is a newer version an update can be made. Intellectual property is the right in which people can own idea’s and decide what happens to them. This is similar to having a patent to an idea or an item, where the person will decide what will happen to the item or ideas. The longer that people work in a job, or different jobs they will start to gain accumulated experience, they will start to learn how to deal with certain issues that may come up in their job. This is a major benefit to the company, as more and more people stay at the company, gradually gaining more experience. The people with experience will be placed as mangers so that they can have an influence on their own sector or department. It is very important for the organisation to build up the skills of peoples so that they can deal with certain issues that arise in the business. It would be wise to train more then a few people at certain things, for instance in their absence, there should be somebody to handle that specific area. If an experienced person was to leave the organisation it would be hard to find another person that would be able to fulfil that job role with the same amount of skill as the previous person. Cascading training is the process in which training is passed on throughout the workforce, so that a backup is available when another individual is needed. Software is used in businesses a lot, and the businesses spend a lot of money on software for its business. Specially made software is sometimes very important to businesses; the reason for this is because it is a piece of software that is specifically designed for a business. Software that isn’t specially made, but owned by people is also used, and to use these businesses must pay a fee for the software license so that they can distribute it to all of their stores. When companies buy these licenses, they usually get a discount due to the amount of computers that they wish to install the software onto. Some companies run the software on more computers they claim to be, and in these cases they are breaking the law, although this can work both ways, as the companies can charge too much. Software reviews can save a vast amount of money for the company, to see which computers need new software and which don’t. Using legislation to protect the technological resources of the company is very important although it is always hard to tell whether people have taken your idea, it is always hard to find the perpetrators. Patents and Copyrights are different area’s which fall under intellectual property law. Patents are protection for inventions, new or improved. Evaluation of Physical Resources: When looking at the physical resources of business, businesses should look at the procedures that it undertakes to carry out its activities. Improvements can be made to make sure that these resources are maintained, refurbished and secured. All businesses need premises where they can operate from. These buildings can have a strong affect on the people that either work there, or the customers of the company. Having buildings located in strong economic areas is also very important for the business, so that many people will be attracted to it, as well as see it as an important building in the area. Importance of how businesses layout their stores all over the country, no doubts show in its success. Businesses have to find ways into attracting the attention of the customers. In businesses that deal with clothing, shoes or accessories, they would need to be aesthetically pleasing to the customers, being attracted to the building will naturally result in them proceeding into the building. Improvements should be made in the materials and waste in businesses. Undoubtedly this would both save the economy as well as money for the business. Different types of buildings within each business will all need to cope with different activities that will need to be completed. The plant will be the place where the machinery for these places will be placed. Although some companies take there machinery on lease, some businesses see it as best to buy the machinery as they can be used in the long run. The correct equipment is essential for a business to operate smoothly. If the necessary equipment is not given then this can result in the incompletion of the task which was required, this can have more impact on the company then some may think. IT is one of the most important, many businesses fail without it. Businesses must consist of both hardware and software, which carry out their main jobs of looking after the amount of stock in the stores, the day’s cash intake, and many other important functions that the company needs. Hardware is the physical items, computers, monitors, things that are visible to people. Software would be the systems that the computer runs on, Microsoft and other applications. All of the factories will always have their premises checked. If the correct maintenance does not take place then the machinery or the buildings can break down, leading to much more large cost with replacing them. Cleaning of the buildings is important in keeping it safe to work in and healthy for the people who work there. Refurbishment of the company consists when the company seems to want to change the appearance of their stores whether it is to the customers in the stores, or for the workers in the other associated buildings. Keeping the buildings fresh will encourage people to enjoy their workplace and result in people working harder. Refurbishment can also have an impact on the environment as well as people, as old resources can be replaced with eco-friendly or energy saving ones. To ensure that the workers and the customers are safe at all times Emergency Provisions will be there in case of an emergency. Evacuation training must be given to all of the employees, so that they know exactly what to do in case of a fire or any other incidence. Other equipment to prevent harm will be placed in the store, such as, fire alarms, smoke detectors, fire escapes and fire extinguishers. To ensure that these are working at all times, regular checks will need to be made. Insurance is a must with all building, whether there leased or owned by the company. This is to cover any damages. Protecting the assets of the company is very important because if any of these were vandalised, they can claim the damage costs back. The building must be made secured at all times, when the employees finish their shift at night; they must lock the premises up so that no intruder can enter. Although this is not always the case, people still somehow find a way in, this is why security guards are hired. The company can also get advice from big security companies about how they can keep their business locked and secure. Evaluation of Financial Resources: Financial resources are needed in the businesses because they have to monitor their finance because; they need to insure that they have enough money in order to buy products and to pay their employees. They then also have to make sure that they have enough money so that they can pay off their bills as well. Financial resources are the cash or loans that a business has, or has access to. A business’s non-financial resources are their employees, technology, equipment, buildings, warehouses and information systems. Within the financial and non-financial category come two more types of resources: internal and external. Internal resources are financial or non-financial resources that a company owns, or has in-house. External resources are financial or non-financial resources that a company does not own, but may be able to use externally. When businesses evaluate their internal environment, they are analysing the areas of their work that they have control over. Internal environments may include, but are not limited to, the organisational structure, purchasing behaviours, research and development and manufacturing processes. Within the internal environment are internal resources, such as finances, staff, equipment, and machinery and information technology. Businesses should perform environmental scans of their internal environments and resources, they should document their findings, examine the trends in their environment, review and analyse the inventory and use the information for decision-making techniques. External business environments are the areas that a business does not have control over, but can still be impacted by. Common external environments can be categorised as environmental, political, economical, technological, legal and social. Within these external environments businesses can identify external resources. Technological advances, for instance, are operated external resources. By knowing what is available to businesses in the external environment, decision makers can analyse risk potential and understand how their business can be progressed or slowed down by external resources. Monitoring Budget Costs: At the beginning of a businesses year, the business will start to start formulate a budget which is their objective to forecast what their profit will be at the end of the year in the assumption that the budget will remain the same through out. The budget will be monitored quarterly or monthly to see if the profit they projected at the beginning of the year is still realistic. Monitoring their budget will give them the flexibility to adjust their wants, needs and must have so that the projected profit is realisable at the end of the year. Profit is the measure of a business performance. Ideally, the process of budget planning for the next financial year should give everyone in the organisation an opportunity to reflect on what they’ve achieved, what the external environment is telling them and where they want to go next. In times of recession, businesses will aim to increase revenues or they may maintain them, they could specifically target a certain market, or invest more in a profitable area. Businesses will focus on these specific areas by everyone in the business. Unfortunately, hardly any business gathers the full rewards of focused engagement with the budget process. Too often businesses are facing the future with budgets that are reluctantly thrown together by cost centre managers with other things on their mind.