Category: Research Paper

VOLUNTEERS IN NFP AND NGOS

VOLUNTEERS IN NFP AND NGOS
VOLUNTEERS IN NFP AND NGOS

VOLUNTEERS IN NFP AND NGOS

Want help to write your Essay or Assignments? Click here

VOLUNTEERS IN NFP AND NGOS

The Victorian equal employment opportunity law stipulates volunteers’ rights. The law states that, volunteers in not for profit and non-governmental organizations should have equal protection against harassment and damages as the other paid employees. Volunteers are important recourses for NGOs and NFP organizations. Most of these charitable organizations are run and managed by volunteers (Taylor, 2011).

They offer their services free of charge to the organizations that deliver charitable programs to disadvantaged countries and communities. They have no interest in financial compensation. Most of them derive personal satisfaction from offering their services free of charge to charitable organizations. The importance of volunteers is attached to their contribution towards achieving an organization’s mission and objectives. According to Ralph (2006), qualified volunteers should be retained through motivation. They can be encouraged by training incentives and rewards.

CHARACTERISTICS OF VOLUNTEERS IN NFP AND NGOS

 Volunteers are very important resources for NFP and NGO’s. They are expected to deliver their services like the other employees.  They are not entitled to any payment by the organization. There services are considered to be of good faith and charitable (Farmer & Fredor 1999). The fact that they are not entitled to monetary compensation, does not oblige inefficiency and lack of commitment. They work voluntarily, they cannot be forced to work, they can stop their services any time and the organization can dismiss them any time.

Volunteers should be willing to learn and train in order to acquire the necessary skills and qualification required in the organization. Choudhory (2010) found out that, most of them have different professional backgrounds that may not correspond to the nature of the organizations work. They should be flexible to acquire appropriate skills and experiences that are necessary through training. 

Want help to write your Essay or Assignments? Click here

Taylor (2001) states that, volunteers do not have tenure of employment and when unproductive they are dismissed by the organization. The organizations objectives should be achieved through volunteers who should be willing and are committed to provide their services to the respective organization. They should be flexible in delivering their duties, some organizations work in risky and hardship areas, these calls for volunteer resilience and endurance.

Volunteers should be productive, efficient and motivated in carrying out their duties. Transparency and accountability is an important aspect in volunteering, they should be able deliver their services in a diligent and honest manner (Boraas, 2003).

Agreements between the volunteers and the organizations are not legally binding. The organization is not obligated to act in accordance to the volunteers’ specifications and the volunteers have no legal obligations with the organization. However, some organizations provide insurance cover for the volunteers, such covers shield against work related injuries and liabilities. In an occurrence of losses or damages, such organizations are liable to cover for the respective damages. 

Want help to write your Essay or Assignments? Click here

            According to Vitner & Yodfat (2008), organizations may award volunteers minimal payments as incentives but the organization is free from obligations. They can be entitled for allowances, rewards and should be reimbursed for their out of pocket expenses. They can also receive non monetary benefits like free air tickets and free access to services provided by the organization. Volunteers are entitled to work in good working conditions and in safe environments like the other paid employees. The equal opportunity Act protects their rights. 

These charitable organizations have their responsibilities to fulfill. Qualified volunteers with proper skills, experiences and interests should be recruited so as to reduce turnover rates. The organization should provide proper training and orientation to volunteers. Proper induction facilitation should be enhanced so as to enable volunteers to work towards achieving organizational objectives.

RECRUITMENT OF VOLUNTEERS IN NFP AND NGOS

Non for Profit and Non governmental Organizations have significant intentions of attracting and recruiting qualified volunteers.  In order to establish long- term productivity and relationship between the volunteers and the organization, volunteers should have appropriate skills, interests and qualities that correspond with the objectives and mission of the organization.  

Attracting and recruiting volunteers with these characteristics, ensures good performance, such volunteers have high chances of being retained. Once qualified volunteers have been recruited, it is important to specify and delegate duties, responsibilities, expectations and tasks between the organization and the volunteers.

Want help to write your Essay or Assignments? Click here

Recruitment of volunteers depend on the organizations specifications regarding skills and competences. Background checks are also considered during recruitment.  Background checks vary in accordance with the nature of the work the volunteer will be entitled.  Volunteers working with children, elderly and disabled individuals should have distinct background check. The nature of the organization should correspond with the background checks.

 It was established by Bruney (1999) that during recruitment, a written agreement is not necessary. However an agreement stipulating the roles and responsibilities is initiated between the organization and the volunteers. These will help to resolve any disputes concerning obligations between the volunteer and the organization. An organization should not take anyone as a volunteer if it believes he is incompetent and cannot perform the required tasks.

A volunteer may take action against the organization if he is discriminated in respect to personal characteristics. The Victorian Equal opportunity and Human rights commission stipulate laws that protect the volunteers against discrimination.

TRAINING VOLUNTEERS IN NFP AND NGOS

Training of volunteers is very important in ensuring efficiency and effectiveness in service delivery. Most volunteers do not have a background of professionalism in their assigned line of duties.  Training is necessary towards achieving important organizational objectives. The aims of training volunteers include; maintaining long term motivation and orientation of duties and responsibilities to the volunteers. Volunteers are equipped with tools, experiences and exposure in their line of duty, further more leadership lessons and skills are facilitated through training (Courtney 2001).

Training volunteers is an aspect of supporting, attracting, rewarding and retaining volunteers. It enhances improvement in performance and quality in service delivery. Volunteers from different backgrounds with diverse needs and duties are catered for through training and proper orientation. Companies that train their volunteers attract potential volunteers; this is because motivation is provided through training and careers development. An organization that trains its volunteers is committed to supports its volunteer’s welfare and needs for career development. 

Want help to write your Essay or Assignments? Click here

 According to Johnson (2007), volunteer training involves either formal or informal training. The training is administered through out the volunteers’ lifecycle. Informal training involves induction programs while formal training involves college training for a specific period of time. Organizations train their volunteers according to their specific needs. Important aspects to be included in training include, determining the training needs, establishing the training objectives, designing, implementing and evaluating the training program.

DESIGNING A TRAINING PROGRAM FOR VOLUNTEERS IN NFP AND NGOS

A training program should be designed according to the organizations’ needs. Important aspects to be considered when designing training program include, determining the type of training to be administered, identifying the facilitators, determining the content of the program, sourcing for the appropriate materials and determining the setting through which the training will be facilitated. Settings for training may include, on job training, classroom or in the field training (Zullo, 2011).

Individual volunteer needs should be considered when designing training programs. Suitable training should be administered to different groups of people. Younger and older volunteers should be trained differently according to their needs and duties. Volunteer’s diverse cultural settings should also be considered (Nagbhushanam & Sridhar, 2010).

Want help to write your Essay or Assignments? Click here

Implementation of the training is the most important stage of volunteer training. The training contents should be appropriate and to be delivered effectively. Facilitation and coordination of the training is very important because it determines the outcome of the program. The success or failure of the program will be determined by carrying out an evaluation on the effectiveness of the program.

Evaluation questionnaires are usually used to collect feedback from the program participants. Criticisms, suggestions and proposals are obtained from the evaluation.  According to Thomas (2007), criticisms from the participants can be used for continuous improvement in future trainings. A strategy can be formulated from the strengths and weaknesses established from the program. 

It was observed by Allhyari (2000) that, evaluation should be carried out to determine if the volunteer target competency was achieved.  It is very important in determining the effectiveness and reliability of the program. Volunteer training should be an on-going process. Volunteer’s skills and competencies should be frequently updated to suit the rising needs of the organization. Through training volunteers will be able to achieve career development and leadership skills. 

Want help to write your Essay or Assignments? Click here

MOTIVATION AND RETENTION OF VOLUNTEERS IN NFP AND NGOS

Not for Profit and Non-governmental organizations should develop strategies that will enable them retain and motivate their volunteers. The success of such organizations highly depends on the workforce which majorly constitutes the volunteers. Many NFP and NGO’s have experienced a significant percentage in losing volunteers. This emerging trend has necessitated the need for motivation, so as to retain volunteers. Elshaug & Metzer (2001) established that, most volunteers serve briefly in their respective organizations.

Such organizations fail to provide sufficient motivation to retain the volunteers. Recent studies show that older volunteers most likely serve longer than younger volunteers. The younger volunteers have 20% lower retention rates than adult volunteers.  The retention rate in adults is high up to 69.9%. 

Various organizations employ different motivation strategies. It has been established that proper recruitment and motivation strategies leads to successful strategies for retention. Retention is affected by barriers and factors which discourage or encourage volunteers. Major barriers that discourage volunteers include risky and costly nature of their work, lack of appropriate skills and experience, insufficient time, poor working conditions, poor reward systems and lack of personal and career development (Odenheirmer, 2011). 

Want help to write your Essay or Assignments? Click here

Volunteer retention can be achieved through various strategies. Frequent training is a strategy that motivates volunteers. Their personal and career development needs are enhanced through training.  Another strategy to ensure volunteer retention relates to attraction and recruitment strategies, the recruitment process directly relates to retention. Recruiting interested and qualified volunteers improves the retention rates. Other important factors that contribute to volunteer retention include proper skills experience and qualifications, improved reward system, flexibility, recognition, leadership roles and career development. 

Low volunteer retention is a vital problem that such organizations face. High rates of volunteer turnover affect the capabilities of these organizations in service delivery. In order for these organizations to achieve their missions and goals volunteer retention must be achieved. Proper working relationships should be enhanced between the volunteers and the organization (Ralph, 2006).

VOLUNTEERS IN NFP AND NGOS: VOLUNTEERING AND ITS BENEFITS

Vitner & Yodfat (2008) argued that, despite the current trend of low volunteer retention rates, enormous benefits can be derived from volunteering. Individuals are able to acquire more skills and career development through volunteering. One of the greatest benefits of volunteering is the impact it creates on the community. Charitable services and activities offered by NFP and NGO’s are aimed at improving the status of the community. Most of these organizations’ activities address social and development needs in the community. The disadvantaged countries and poor nations are the major targets of these organizations.

Want help to write your Essay or Assignments? Click here

Volunteers are able to expand their social skills, make friends and create networks through wide interactions with the communities. Some individuals derive personal fulfillment and satisfaction through community service. These individuals attach themselves to the society and are determined to impact positively on the society. Such individuals desire to give back and may commit their own resources to improve the community. Recognition and appreciation in the community provides personal satisfaction (Zullo, 2011).

Career development is enhanced through volunteering. Individuals are able to acquire important work place skills such as problem solving skills, teamwork, project management and task management through voluntary exposures.  Individuals with these qualities have high employability rates and a competitive advantage in career development. Professional experience is acquired through volunteering. Such experiences are useful in acquiring long-term professional career. Furthermore, volunteering may lead to a well paying job in similar organizations.

VOLUNTEERS IN NFP AND NGOS: BARRIERS TO VOLUNTEERING

Recent studies show that voluntary services have declined drastically. The perception that volunteering is charitable and has no monetary benefits has prevented individuals from volunteering their services in charitable organizations. The most significant barrier against volunteering is lack of time. Individuals who could be willing to volunteer are committed in their families or in other activities (Boraas, 2003). The notion that volunteering requires a long-term commitment is another challenge. However, most individuals dismiss voluntary work because it has no monetary benefits.

Want help to write your Essay or Assignments? Click here

 Economic conditions and needs have severely affected voluntary work. Voluntary work has no monetary benefits yet economic conditions are worsening. There is high demand for money, which dictates the preference for individuals to work in paying institutions. The impact of economic changes has forced employees to multi-task with various employers.  Such employees hardly find time to volunteer in charitable organizations.

Voluntary work is associated with lots of risks and costs. Some organizations work in hardship and risky areas. Volunteers are exposed to risks of injury, death, financial loss or legal action.  These risks discourage potential volunteers from joining charitable organizations. Thomas (2007) observed that, technological advancement has impacted on voluntary work. Potential young volunteers spend most of their time operating gadgets. They prefer to try out new things and very entrepreneurial. The young generation lack commitment in voluntary work because it is very involving and have no substantial benefits.

Odenheirmer (2011) suggest that, charitable organizations should implement strategies to reduce the barriers to volunteering.   Organizations should reimburse volunteers out of pocket expenses and should be able to provide incentives such as transport allowances among other incentives. Allocating roles according to individual’s preferences and interests is another strategy.

Adequate training and support should be provided to volunteers as well as their needs should be considered. In the case of organizations administering charity in risky areas, insurance covers should be secured for volunteers. The covers will shield against any losses and damages that may arise due to the nature of the work.

Charitable organizations should initiate programs that will facilitate successful volunteers to be absorbed in to long-term career opportunities. This strategy is very effective in attracting and retaining volunteers. They will be able to gain professional experience in their line of careers giving them competitive advantage as compared to the other potential recruits.

This strategy addresses their long- term objective of professionalism and career development. Organizations that implement these strategies are advantaged in volunteer retention. When volunteers are motivated and satisfied, the retention rates will be high (Courtney, 2001).

Want help to write your Essay or Assignments? Click here

In conclusion, volunteers are very important resources in the community. They constitute the major work force in charitable organizations. The fact that they are not entitled to any monetary benefits does not authorize any neglect, mishandling, harassment and frustrations on the volunteers. Organizations should adopt appropriate attraction and recruitment strategies in order to draw many volunteers. Proper motivation and retention strategies should be employed to reduce volunteer turnover rates.

   REFERENCES 

Allahyari, R. A. (2000). Visions of charity: Volunteer workers and moral community. Berkeley, CA: University of California Press.

Boraas, S. (2003). Volunteerism in the United States. Monthly Labor Review, 126(8), 3-21

Brudney, J. L. (1999). The effective use of volunteers: Best practices for the public sector. Law and Contemporary Problems, 62(4), 219.

Choudhury, E. (2010). Attracting and managing volunteers in local government. The Journal of Management Development, 29(6), 592-603. doi: http://dx.doi.org/10.1108/02621711011046558

Courtney, R. (2001). Strategic management for voluntary nonprofit organizations. New York: Routledge.

Elshaug, C., & Metzer, J. (2001). Personality attributes of volunteers and paid workers engaged in similar occupational tasks. The Journal of Social Psychology, 141(6), 752-63. Retrieved from http://search.proquest.com/docview/199837239?accountid=45049; 

Farmer, S.M., & Fedor, D.B. (1999). Volunteer participation and withdrawal. Nonprofit Management and Leadership, 9(4), 349-368.

Johnson, J. A. (2007). Getting and staying involved: What motivates volunteers in a non-profit organization? Capella University). ProQuest Dissertations and Theses, , 111-n/a. Retrieved from http://search.proquest.com/docview/304720694?accountid=45049; 

Nagabhushanam, M., & Sridhar, M. (2010). Voluntary Organizations – Growth, Trends and Challenges. Vilakshan: The XIMB Journal of Management, 7(2), 143-166.

Odenheimer, M. (2011). Integrating Volunteers In- to Long-Term Sustainable Development. Journal Of Jewish Communal Service, 87(1/2), 81-87. 

Ralph, C. (2006) “Recognising current competencies of volunteers in emergency service organisations”, Journal of Workplace Learning, Vol. 18 Iss: 7/8, pp.451 – 463

Taylor, A. (2011). Volunteers are a neglected resource. Third Sector, (672), 18-18. Retrieved from http://search.proquest.com/docview/887547857?accountid=45049; 

Thomas, C., Newell, J. N., Baral, S. C., & Byanjankar, L. (2007). The contribution of volunteers to a successful community-orientated tuberculosis treatment centre in an urban setting in nepal. Journal of Health Organization and Management, 21(6), 554-72. doi: http://dx.doi.org/10.1108/14777260710834346

Vitner, G., Shalom, V., & Yodfat, A. (2008). Training volunteers for the elderly in israel. Industrial and Commercial Training, 40(4), 216-225. doi: http://dx.doi.org/10.1108/00197850810876271

Zullo, R. (2011). Labor unions and charity. Industrial & Labor Relations Review, 64(4), 699-711.

Want help to write your Essay or Assignments? Click here

Technical evaluation of a project

Technical evaluation of a project
Technical evaluation of a project

Want help to write your Essay or Assignments? Click here

Technical evaluation of a project 

Managing the design and construction of an electrical power station for a community of 20,000 resident

Abstract

In any project, it is imperative that proper planning   is done before designing and construction of an electrical power station.  The stakeholders in this project are diverse and all of them should participate in the whole project in order to ensure that it is given support. This project is based on three fundamental factors that need to be considered in evaluating the authenticity and appropriateness of a project.

These include technical, economic and environment. It is imperative that evaluations on these is conducted and even put into consideration in the designing and construction of this project to ensure that it is successful. The literature review covered demonstrated the importance of ensuring that these three issues are well investigated in designing and construction of the power station. The research design used to solicit views included use of questionnaires and interviews that enabled success of the project. 

Outline

  1. Introduction
  2. Problem identification
  3. Objectives and aims
  4. Literature Review
  5. Economic evaluation
  6. Technical evaluation
  7. Environmental evaluation 
  8. Research Methodology
  9. Assumptions and limitations
  10. Results
  11. Findings
  12. Potential for future direction 
  13. Conclusion
  14. Reference list 

Managing the design and construction of an electrical power station for a community of 20,000 resident

Want help to write your Essay or Assignments? Click here

Introduction 

Before designing and carrying out any construction work, it is imperative that proper planning is done to ensure that the project meets the objective set.  Designing and construction of an electrical power station for a community of 20,000 residents should be carried out with precision and proper planning.  In such project, the three major factors that need to be considered include technical, economic and environmental factors. These three are crucial in determining whether the project will be set up and be able to provide or meet the intended goals and objectives. This project report is analyzed in four major areas, introduction, literature review, research methodology, and the results of the study.

Technical evaluation of a project 

Problem identification

Designing and construction of an electrical power station not only requires enough skills, and expertise of the constructors but it requires consideration of various factors.  For the project to be viable there is need to ensure that factors such as economic, technical and environmental are factored in the whole process of designing to ensure that the project is able to meet the set standards.

Many projects may be viable in one area but not in another area. For instance,  setting up of an electrical power station in one location may  improve the economic  status of the people in the area but due to environmental factors such as  poor weather conditions the project may not be viable. It is therefore important that all three factors, which interrelate, are considered to ensure viability of a project. Many projects fail to achieve their objectives and goals because of the lack of proper management in term of design and construction hence the need for more research to find out the best ways to alleviate such problems.

Want help to write your Essay or Assignments? Click here

Objectives and aims

The objectives and the aims that the project seeks to achieve include:

  1. To investigate on the need for considering economic factors in designing and actual construction of a an electrical power station that supports 20,000 residents
  2. To establish the significance of considering technical capabilities in the construction of electrical power station
  3. To investigate why environmental factors are important factor in designing and constructing of an electric power station
  4. To find out appropriate ways to ensure that an electrical power station is designed and constructed to meet the objectives and goals of the residents

Literature review

Under this review, various, issues will be discussed relating to the management and construction of the electrical power station that is able to serve a population of 20,000 residents. The variables to guide the literature review include; technical, economic, and environmental factors when designing and constructing an electrical power station. Evaluation of a project on these three attributes makes the designers to incorporate all of them to ensure that the project upon its completion satisfies all the stakeholders concerned.

Want help to write your Essay or Assignments? Click here

Economic evaluation

In these modern days, availability of electricity is one of the preconditions of ensuring that society functions and thrives forward.  Electricity is used in various areas, including, household use, running of information and communication technologies, and even in industries.  

According to Wagner & Antonio (2012),availability of electricity is important in facilitating industrialization, which provides employment to many people (p. 20). Electricity also stirs development in a given area because it contributes to the sprouting up of informal sectors such as blacksmiths that plays a pivotal role in the general economy of the country.

            Various forms of energy provide electricity to the locals and industries. These electricity may be generated from, water, wave and tidal, wind, solar, geothermal, and nuclear power energy just to name but a few. These different forms of energy are then converted to electricity at a central location from where distribution is done.  The cost of every kind of designing and constructing the station varies due to the logistics involved.

Want help to write your Essay or Assignments? Click here

According to El-Kordy et al. (2002), it is important to evaluate the economics of energy systems basing on the four forms of cost; maintenance costs, capital costs, fuel costs and external cost (p. 319).  In deigning the electricity power station, the cost of maintenance should be considered to ensure that the project is sustained over a considerable duration of time. This cost includes repair, human capital to ensure that the station is well manned to protect it from external distractions and costs that are related to proper functioning of the station.

Capital cost is the initial costs that require the station to be set up in a given area. The company or the contractors should put in priority or budget sufficiently for the start up costs to ensure that the project is initiated and completed within the required period. External costs involve any other costs incurred during the process of setting up and operating the electricity power station.

Electrical power station 

            It is also important that economic parameters such as inflation and escalation of rates, discounts and taxes be considered when designing and constructing power station for the 20,000 residents.  Inflation may affect the progressive of a project causing a stall due to lose of value of the funds that reserved for the project. It is therefore important that such considerations are put in the mind of the designers especially if the project is going to take long time before its completion. Therefore, future sums of money should be discounted based on the inherent risks of future events not turning out to be as planned (Zati & Toosi, 2011, p. 22) 

Want help to write your Essay or Assignments? Click here

.           It is also important that electrical energy generation costs are calculated, plus all other installments of the power plant to be known during the designing of a power station to serve a certain population.  The cash flow of such project includes expenditures in relation to acquisition of land, fuel and maintenance costs and the construction costs.  

This costs should be broken into units to enable the constructors know the estimated amount of money required. Some of the cost analysis tools that can be used include cost benefit ratio, total-life cycle cost, levelized electricity generation cost, net present cost and unitary present average cost among many others (Gokcek & Genc, 2009, p. 2732)  

            When it comes to economic evaluation, it is also important to consider the economic impacts that project will have on the residents or the consumers of the electricity. Economic benefits should surpass the negative aspects that the project brings to the users or the clients (Wagner & Antonio, 2012, p. 22).  When the project is designed, it should be able to improve the living standards of the people by enabling them to develop and grow in terms of their level of developments.

The benefits associated with setting up an electricity station in a given locality or a community should be to benefit the locals economically. Electricity is a cheap source of energy compared to other sources of energy at home and even in industries. Furthermore, the station should be able to serve all the residents with adequate supply of energy to enable them carry out their duties well. 

Want help to write your Essay or Assignments? Click here

Technical evaluation of a project 

            Therefore, in designing the project, all these issues need to be factored to ensure that the residents as well as the company benefits from the station. The company will accrue some benefits from the charges they levy on the consumption of power, but they should also provide enough power to serve the entire target population.

Technical evaluation of a project 

Electrical power station 

            Technical evaluation of a project ensures that all the necessary details that can ensure successful completion of the project are put into consideration. In technical evaluation, it is important for the designers and the constructing company to take note of all the issues that surrounds the project (Zati & Toosi, 2011, p. 23) 

.Want help to write your Essay or Assignments? Click here

            Technical evaluation encompasses many areas of considerations in the designing and construction of an electricity power station. The team should evaluate its capability and expertise to know if they have the required skills and competence to finish the project successful. This is a very important factor in the project. The availability of work force to carry out the project is vital.

            Technical evaluation should also be carried out to determine the durability of the equipments and the long life of the assets, their performance and price stability to find out whether the project is sustainable or no (Zati & Toosi, 2011, p. 22). Other technical evaluation include, finding out whether the area has enough rivers or dams to be exploited for power production during emergencies. 

            Technical evaluation is therefore important in ensuring the success of a project of this nature. The costs and logistics of setting up and constructing an electricity power station   must be well defined and known to enable the construction team to finish the project successful.  For the project to be sustainable, maintenance costs should be provided to ensure that in case of any problem immediate action is taken to remedy the solution. For instance, vandalism of electric equipments should be controlled through installation of CCTV to ensure that those involved are pursued and persecuted (Gokcek & Genc, 2009, p 2732).

Technical evaluation of a project 

Environmental evaluation

According to Zati & Toosi (2011) environmental evaluation or assessment, if paramount before any project is undertaken (p. 24). This is not exclusion to the electricity power station. The station, even though, is important to the survival of the people in the area, it is necessary for the effects it has to the environment be accessed. The location of the station will have to be assessed before construction work begins to ensure that there are no future environmental effects to the resident (El-Kordy et al. 2002, p. 318)  

Some of the environmental concerns associated with projects of setting up and constructing an electricity power station includes, effects of the exposed cable to the people in the area, power shocks and outages, rugged landscape that poses threats to the stability of the electricity lines and re-channeling or overuse of water depriving the local residents water to carryout their farming activities. These are environmental concerns that should be investigated and assessed to determine the magnitude or impact that they have on the residents before constructing the power station.

Summary of the Literature Review

            Various stakeholders need to be consulted in the designing and construction of an electricity power station. These stakeholders include the government, the construction company, the residents and any other important party. This ensures that consensus is reached as well as it ensures that all the logistics concerning project are put into consideration.  The three factors; technical, economic and environmental are important and should be scrutinized to allow the successful completion of any project.

Want help to write your Essay or Assignments? Click here

Research Methodology

            Research methodology is the procedure and processes that the researcher uses to gather information, analyze and present data.  The nature of the project required use of survey descriptive method.  This method allowed the study to gather information through questionnaires, interviews and observations from the relevant stakeholders that the project affected.

The residents or the population where the project was to be set up were sampled through simple random sampling method to give a sample size that was representational of the entire population. 100 respondents responded to the questionnaires and interview questions.

The research design was descriptive survey method, which allowed questionnaires and interviews that sort to know how the residents viewed the project in terms of economic, technical and environment implications. This method was used because it can be repeated for verification. The information gathered was then analyzed and presented in the pie charts, graphs and table for ease of interpretations. 

Assumptions and limitations

            During the study, it was assumed that the respondents came for the areas where the project was to be set. The information that was collected was taken with a lot of confidentially and was assumed to be true and to the best knowledge of the respondents

             During the study, there were a number of limitations that the researcher faced. One of the limitations was inadequate time to carryout an extensive research on how the residents felt about the setting up of the power station in the area. Furthermore, the fact that, the population was very large, the sample size was not enough to elicit the views of the larger population hence a limitation to the study.

Want help to write your Essay or Assignments? Click here

Technical evaluation of a project 

Results

            The study findings helped the researcher to make decisive decision on the appropriate ways to design and constructing the electricity power station in the area. Results of the study were presented in the form of tables, and graphs.

Findings

            From the study, it was revealed that, economic factors were important in designing and construction of the electricity power station in the area.  Most respondents said that, the establishment of the station was welcome because it could spur economic growth in the area. It was also going to improve their living standards since they were going to use the power to do their domestic chores and other works at a low rate.

 Yes No Percentage 
Important of evaluating economic factors8020100
Percentage 8020100

Table 1.1: Economic evaluation

Figure 1.1: Economic Evaluation            

The table illustrates the importance of evaluating the economic factors before designing and constructing an electrical power station. Form the table, 80 percentage agreed that evaluation was important while 20 percent were of the contrary opinion.

            Furthermore, the findings showed that, those projects that were designed and constructed after enough economic evaluation were carried out were sustainable and provided economies of scale to both the resident and the company.  Most of the respondents supported the notion that, economic evaluation was essential because it was through such information that sufficient data on the viability of the project was to be determined.

            When it comes to technical evaluation, the study finding showed that indeed it was paramount for an assessment to be carried out during designing and construction of the power station to know the logistic and the issues that pertained to the projects.

Technical evaluation ensured that the project was completed at the time set because it allowed the project designers and constructors to understand the issues they needed to handle first before embarking on others.

            On environmental evaluation, many of the respondents said that, this was a very important area to consider because, their health and environment was important than anything that could put it at stake. However, they were in support of the project because, it had minimal effect on the environment.

Therefore, by gathering this information, and getting the views of the residents, the designers and constructors were at liberty to begin their project. This is because they got support from the stakeholders and from their visibility and surveys, the area was suitable since it could impact on economic, and had less implications on the environment. 

A table showing the total cost of setting up an electrical power station 

Item/Material Quantity Price per unity Total Price in US dollars
Survey   2000
Land2 acres 2000040000 
Equipments   100000
 Human capital 10050050000
Maintenance costs   100000
    
    

Table 1.2: Cost of setting up a power station

Instruments that is required to support the residents and the costs

Instruments                            Number Total cost  in US dollars
Transformers            3600000
Lightning protectors 50100000
Vehicles4400000
Cables100metre500000
Reading Metres 1000200000

Table 1.3: Instruments required 

Figure 1.3: Instruments required

Cost of setting up the power station 

Section of the stationCost in US Dollars
Walls200000
Signs15000
Foundation200000
Fences50000
Alarm system 10000
Total 475000

Table 1.4: Cost of setting up the power station

Figure 1.4: Cost of setting up the power station

The total amount of power that will be consumed

The station expects to produce 40kWhz of electricity in the year that will be enough for every homestead and the local industries in the area.

Want help to write your Essay or Assignments? Click here

Potential for future direction

            From the study, it is important for any individual or organization to carryout a survey on their project before designing and carrying out the project.  Not all projects are suitable in certain areas and therefore, these factors should be put into consideration. Therefore,   further investigation need to be carried out on how communities influence the design and construction of a project.

Conclusion

            It is imperative for any company or individual to carryout a survey before designing any carrying out a project. Planning is vital as it allows an individual to assess the benefits and the costs of the project. This allows for proper planning and implementation of the project.

                                                                    References                         

El-Kordy, M. N., Badr, M. A., Abed, K. A., & Ibrahim, S, 2002, “Economical evaluation of Electricity generation considering externalities.” Renewable Energy, 25(2), 317-328.

Gokçek, M., & Genç, M. S, 2009, “Evaluation of electricity generation and energy cost of wind energy conversion systems (WECSs) in Central Turkey.” Applied Energy,    86(12), 2731-2739.

Wagner, S. & Antonio, J. 2012. “Optimization model for economic evaluation of wind farms- How to optimize a wind energy project economically and technically.”International Journal of energy economics and policy, 2(1):10-20.

Zati, A, & Toosi, E, 2011, “Technical evaluation-economic execution of hydroelectric project at micro scale.”America journal of scientific research, Issue. 16, pp. 20-25.

Want help to write your Essay or Assignments? Click here

Organizing Staff for Success Research Paper

Organizing Staff for Success
Organizing Staff for Success

Want help to write your Essay or Assignments? Click here

Organizing Staff for Success

Introduction

This paper addresses a case study ‘the overhaul of John’s Business- Organizing Staff for Success’.  According to the case study, John had worked in a steel fabrication industry in his entire life. He began as a trainee boilermaker, but demonstrated determination and enthusiasm that was absent in the colleagues. He had the desire to start his business, and he did so.

Since the business was booming, he realized that he required more boilermakers to assist with the work he was getting. He employed sixteen tradespeople at the workshop. He soon decided to expand his business in providing labor to nearby mines. John realized that he required office workers to assist since he had two divisions in the business: labor supply and boiler making.

John’s business was prospering and being aware of business literature aimed at keeping, attracting and motivating talented staff, he was aware that business coaching was a technique that successful businesses were using. John usually networked with the community’s business people. During one occasion, he spoke with a business coach and decided that he required the services of one to ensure his team remained productive as was the case initially.

John was informed that coaching is effective when done on-job to assist in management development, and employees are helped to develop individual skills. John therefore, decided on an external coach and being the owner and general manager, john had made several organizational changes in the company (Repenning, 2002, 120).

Specific areas were supervised by different managers. Ted, the workshop’s manager had two supervisors; Dave and Matt. Matt supervised the daily work and organized the team. On the other hand, Dave supervised the off-site work. Craig was the labor hire business manager. Louise was Craig’s assistant manager, and her responsibility was to organize the right tradespeople for specific jobs.

Organizing Staff for Success

Want help to write your Essay or Assignments? Click here

The management team met with John every week, to provide updates in the specific areas, discuss business, and receive instructions. John realized that his motivated and dedicated managers never met their targets. In addition, there were several communication problems although he did not know their extent. John informed the team that a business coach had been employed to work with each of them. This was a chance for managers to work through issues they had been experiencing as well as give response to the coach concerning the systems under implementation.

This was a way through which communication would be improved since the staff would get equipped on how to coach the subordinates (Duncan, 2011, 321). John wanted to initiate a continuous improvement culture in the team. The business coach would report the areas that had problems and strategies that could be used to solve the problems. A management meeting was arranged where the coach briefed the team what the coaching was all about, the benefits and what each session would entail.

At the end of the briefing meeting, the staff was enthusiastic about growing the business and having been involved in the process of decision making. The coaching continued for several months, and the coach reported her insights to john. It was realized that Ted was responsible for all the quoting which was extremely time- consuming and remarkably little would be accomplished until the company secured the job successfully.

Unless Ted was effective with quoting, employees would have nothing to do and would be unable to plan for upcoming jobs appropriately. Moreover, Matt would be frustrated as his responsibility was to organize the daily work. Dave would also be frustrated since he would take the workers to work off-site if they were doing nothing at the workshop. Staffs were usually frustrated since there was a lack of communication between the three supervisors and managers.

Apart from lack of communication, workers were confused about who was in charge of them amongst Dave, Matt and Ted). There was resentment present within the team. Dave and Matt were, ambitious, young and perfect mates away from work. The two often discussed Ted that he did literally nothing since quoting was never done on time although he always said that quoting was his key priority. Ted was open on how much he had to do and even though he dedicated long hours and hard work, productivity was not evident from his efforts.

Organizing Staff for Success

Want help to write your Essay or Assignments? Click here

On the other hand, Craig (responsible of supplying the right mines’ tradespeople, and developing and assisting manage the growth of the overall business) did not have much complains. His notion was that everything was alright. The coach himself was unsure of his roles. His assistant, Louise, did all the labor hire team administration work and actual positions filling. The two got along well, but there was a workload imbalance.

Finally, John was never involved in the daily running of the business as he spent most of his time networking. He had experienced massive prosperity and growth in the recent years, and had earned the rewards. He was however, aware that the business was entering hard times. John’s concern was providing some control, give direction and still keep the staff happy and motivated (Boswell, 2003).

This report is aimed at discussing whether the company’s organizational structure is justified for the size. Secondly, suggestions will be offered on how communication can be improved amongst the staff. Thirdly, it will be assessed whether there is overstaffing, and a new organizational chart will be provided. Fourthly, the benefits of an external coach will be discussed. Finally, contingency plans that can be implemented in the company will be suggested. The report is presented to Denise Tomlin, the course coordinator. Articles and textbooks will be used to gather information.

Want help to write your Essay or Assignments? Click here

Organizational structure and size

Organizational structure refers to the type and degree of vertical differentiation, horizontal differentiation, control and coordination mechanisms, centralization of power and formalization. There is one best way through which an organization can be structured, yet structural attributes vary in organizations. Size refers to the number and capacity of resources, outputs and personnel. Differentiation in an organization increases with size, although at a reducing rate.

On the contrary, the percentage of organizations dealing with administrative overhead reduces with size, resulting to economies of scale. Increased size also means more organizational activities’ structuring and reduced power concentration. Managerial practices for example personal assignments’ flexibility in authority delegation and stress in results, as opposed to procedures are linked to the managed unit size (Jacobides, 2007, 460).

John’s business is a small organization, and a tall or centralized organizational structure is appropriate. John should therefore, be relied on to make significant decisions. However, there are several management layers under the principal decision maker. The centralized structure is the most appropriate since the owner has the responsibility of making business decisions. John feels that some level of control is required in the business because he distrusts his managers’ ability to make decisions.

Owners of small businesses struggle, when allotting managerial duties to managers. However, it is imperative that small businesses that continue to expand and grow have the owners assign decision- making responsibilities (Dubin, 2001, 187). If John uses centralized structure in his business, it will be possible to maintain and create a company culture. A company culture refers to an intangible environment where employees, managers and owners work.

John’s business fits in a formal organization culture which is more stressful as opposed to a friendly and open culture. In many companies, organizational structures evolve as businesses expand and grow. Furthermore, individuals can decide the structure a business will use in its operations.

Want help to write your Essay or Assignments? Click here

Improving communication gaps between staff

Effective communication is extremely significant in every organization. From the case study presented, there is a communication breakdown between John and the staffs, and between Craig, Matt and Dave. However, organizations have varying types of people, with different education levels, personality types, cultures and backgrounds. What makes sense might be nonsense to someone else. Priorities and deadlines may be misinterpreted, and productive ideas can be made ineffective, unproductive and low morale can result in employees.

It is worth noting that the external coach was useful in identifying the communication gaps. John thought there was a communication breakdown but did not know to what extent. Consequently, the worker or device responsible for the breakdown should be assesses (Pugh et al, 1999, 87).

John ought to evaluate interpersonal relationships that exist between employees and communication devices’ calibers. The fact that Ted always says he has a lot to do should be assessed. John should conduct a quick survey to identify how many other employees have the same complaint.

The second thing john should do is gauge feedback and review formal messages to ensure that additional communication is avoided in clarifying principal themes. Grapevine information should not be stifled to avoid misunderstandings and lower productivity.

The third step is to assess the resources required to rectify the problem. Problems that result from acrimonious tension between staffs require a staff meeting or mediation program to disentangle issues. Dave and Matt should be advised to consider all that Ted does and offer a hand where necessary (Child, 2009, 20).

John should organize for training where employees acquire new methods of communication. Staff feedback is crucial in assisting employees’ transit to the new system. Finally, follow ups should be done to ensure that the communication gap is no more. Open communication should be facilitated by welcoming the open- door policy where employees express their concerns without retribution.

Want help to write your Essay or Assignments? Click here

Overstaffing

John’s business is unquestionably overstaffed. It is worth noting that the productivity and efficiency of small businesses heavily depends on maintaining suitable staffing levels and recruiting effectively. Staffing is usually a challenge in all organizations. In my opinion, Ted and Craig should be deployed. Craig should have all he does done by Louise. Dave and Matt are close friends and can therefore, collaborate and handle Ted’s roles.

It is extremely vital that john identifies the company’s needs so as to be able to develop a staffing strategy. This can be achieved through coming up with job descriptions that displays the positions needed to meet different responsibilities. Continual communication can assist john identify staff shortcomings (Braha and Bar-Yam, 1130).  Continual feedback is useful in identifying the need for more employees so that work is completed efficiently without straining current employees.

The process of manpower planning enables an organization assess its department’s net worth. A certain department might be reaping enormous profits but understaffed at the same time. In such circumstances, the existing staffs are pressurized to perform. When small businesses are staffed properly, responsibilities and duties are completed in a timely manner.

Organizational chart

Benefits of external coaches

An external coach acts as a source of fresh perspectives in events and people in the organization. This implies that the coach can make connections and notice patterns which the insiders are unaware of. He is a valuable people’s thinking’ sounding boards where he can identify, ask and give feedback from an outsider’s perspective.

Since the coach does not have a manager’s direct responsibilities, he can devote his entire attention to customer’s needs. This results to high- energy and intensive types of coaching that yields significant results within a short period. Long-term term coaching provides a solid individual development foundation (Stone, 2012, 454).

Coaching is usually confidential between the coachee and coach. Hence, employees are more comfortable discussing personal concerns and sensitive information with the coach, as opposed to john. Unspoken problems that interfere with crucial business processes are therefore, resolved.

Want help to write your Essay or Assignments? Click here

External coaches possess extensive coaching training, as opposed to managers. Therefore, John’s company will benefit from a coaching experience wealth and exceedingly developed coaching skills (Stone, 2012, 455).

In addition to core coaching skills, external coaches possess specialist expertise that makes them suitable for particular coaching assignments. These include emotional intelligence, psychology, creativity, presentation skills, meditation, negotiation, sales and leadership.

Contingency plans

As a human resource practitioner, it is particularly vital that an environment is created whereby employees are empowered to think creatively. It is worth noting that contingency plans require the coordination and cooperation of various organizational areas.

One of the contingency plans that can be implemented is collective bargaining breakdown which requires human resource leadership, as well as public relations, purchasing, operations and sales efforts (Child, 2008, 170). Organizations with corporate planning functions can use this to secure cooperation that is organization- wide.

Want help to write your Essay or Assignments? Click here

Conclusion and recommendations

From the foregoing discussion, John’s business hugely benefited from the services of an external coach. The coach was able to identify the communication breakdown that the company had, and offer appropriate remedies. Since John’s company is under the category of a small organization, a tall structure fits the size of the company. It is advisable that John deploys Ted and Craig so as to avoid overstaffing.

References

Boswell, J. (2003) The Rise and Decline of Small Firms. Allen and Unwin.

Braha, D. and Bar-Yam, Y.  (2007) The Statistical Mechanics of Complex Product Development: Empirical and Analytical Results. Management Science. Vol. 53, iss. 7, 1127–1145.

Child, J. (2008) Predicting and Understanding Organization Structure. Administrative Science Quarter.  Vol. 18, iss. 2, 168-185. 

Child, J. (2009) Organizational Structure, Environment and Performance: The Role of Strategic Choice. Sociologa.  Vol. 6, iss. 1, 1-22.

Dubin, R. (2001) Management in Britain – Impressions of a Visiting Professor. Journal of Management Studies.  Vol. 7, iss. 2, 183-198.

Duncan, R. B. (2011) Characteristics of Organizational Environments and Perceived Environmental Uncertainty. Administrative Science Quarter. Vol. 17, iss.3, 313-327. 

Jacobides, M. G. (2007). The inherent limits of organizational structure and the unfulfilled role of hierarchy: Lessons from a near-war. Organization Science. Vol. 18, iss. 3, 455-477.

Pugh, D. S. et al. (1999) Dimensions of Organization Structure.  Administrative Science Quarter. Vol.13, iss. I, 65-105; 

Repenning, N. (2002). A Simulation-Based Approach to Understanding the Dynamics of Innovation Implementation. Organization Science. Vol. 13, iss. 2: 109-127.

Stone, R. (2012) Managing Human Resources.3rd Edition. John Wiley & Sons Australia. 454 – 455).

Want help to write your Essay or Assignments? Click here

Financial liberalization Research Paper

Financial liberalization
Financial liberalization

Want help to write your Essay or Assignments? Click here

Financial liberalization

“Financial liberalization and increased access to international capital markets brings benefits and disruption to developing countries.”With the above statement in mind, and based on a review of the literature, consider the evidence on the net benefit to developing countries from unfettered access to international markets.

FINANCIAL LIBERALIZATION

Globalization is the process of worldwide integration that occurs as a result of the exchange of global views, goods, ideas, and other cultural elements (Fernando, 2021). Globalization has been fueled by advancements in transportation and telecommunications infrastructure, such as the Internet and mobile phones, which have increased the interconnectedness of economic and cultural activity in countries all over the world (Fernando, 2021).

Though some researchers identify the beginnings of globalization in modern times, others trace its history back to the third millennium BCE, well before Europeans began crossing the Atlantic in the 15th century (Fernando, 2021). Large-scale globalization began in the 19th century, and by the late 19th and early 20th centuries, the world’s economies and cultures had become extremely intertwined (Fernando, 2021).

Following World war ii, leaders worked together to organize the Bretton Woods Conference, which took place from July 1 to July 22, 1944 (Chen, 2021). The conference brought together 730 representatives from all 44 Allied states to oversee the post-World War II international monetary and financial system (Chen, 2021). The conference resulted in key states agreeing to establish the framework for international monetary policy, commerce, and finance, as well as the establishment of various international institutions aimed at facilitating economic growth by eliminating trade barriers (Chen, 2021).

Want help to write your Essay or Assignments? Click here

Financial liberalization

The rapid rise of globalization has sparked a heated discussion among economists, with both supporters and critics. This paper outlines the benefits and risks that financial liberalization entails for developing countries. Financial liberalization is the elimination of government involvement from financial markets.

It involves removing limitations such as bank interest rate limits, mandatory reserve requirements, entrance hurdles, especially for foreign financial intermediaries, and credit allocation choices (Masci, n.d.). These policies limit government intervention in financial markets, resulting in the privatization of state-owned banks, the introduction of currency convertibility on the capital account, capital account liberalization, improved prudential regulation, and the promotion of local stock markets (Masci, n.d.).

Simply phrased, it refers to a country’s local financial system’s integration with international financial markets and institutions. Financial liberalization lets governments and private investors to do business with less constraints, while also allowing financial hosts to access the global market (Banton, 2021). However, because emerging countries or economies are compelled to compete in the same market as larger economies or nations, this might be detrimental to them (Banton, 2021).

Want help to write your Essay or Assignments? Click here

Financial liberalization

The capital account in a country’s balance of payments covers a wide range of financial flows, including foreign direct investment, portfolio flows (including equity financing), and bank borrowing, all of which involve the acquisition of assets in one nation by citizens of another (Kose and Prasad, 2020). It is theoretically feasible to manage these flows by imposing limitations on those that pass via official channels. However, through increased capital inflows and outflows, capital account liberalization is likely to result in a greater degree of financial integration of that nation with the global economy (Kose and Prasad, 2020).

Any action taken by a government or other regulatory agency to restrict the movement of foreign capital into and out of the domestic economy is referred to as capital control (Barone, 2020). Taxes, tariffs, laws, and market forces are all examples of these types of regulations. Many asset types, including stocks, bonds, and foreign currency trading, can be affected by capital regulations. 

It is a country’s attempt to protect itself against the dangers connected with international capital flow variations. Unrestricted capital flows might make maintaining a fixed exchange rate system more challenging. This is one of the reasons why, under the Bretton Woods system of fixed currency rates, even industrial countries maintained relatively restricted capital accounts during the second world war (Kose and Prasad, 2020). 

One of the major roles of capital control is that it reduces the volatility of currency rates in the economy as well as provide support and stability by shielding it from sharp fluctuations (corporate finance institute, 2015). This is because unrestricted capital can produce inflows and outflows that easily affects the appreciation and depreciation of the nation’s currency (corporate finance institute, 2015). For instance, in the year 1933, President Franklin D.

Roosevelt compelled Americans to convert their gold for US currencies by Executive Order 6102 (Giambruno, n.d.). The official government exchange rate was negative, which comes as no surprise. Until 1974, the United States government prohibited individual possession of gold bullion (Giambruno, n.d.). According to Ballotpedia (n.d.) this major decision made by the late president lead to the revision of the Trading with the Enemy Act of 1917, allowing banks to reopen after a four-day banking holiday and requiring the Department of the Treasury to examine institutions.

Want help to write your Essay or Assignments? Click here

Financial liberalization

The legislation increased the president’s regulatory powers over the banking system, provided the comptroller of the currency the right to restrict the activities of banks with impaired assets, and empowered the Federal Reserve Board to create emergency money backed by commercial bank assets.

Capital controls are also used to prohibit foreigners from acquiring local assets or to restrict domestic individuals’ access to foreign assets. Foreigners’ and residents’ capacity to exchange domestic money for foreign money, and vice versa, has historically been the most extensively employed capital control and it is known as exchange control (Coppola, n.d.).It can disrupt international trade by interfering with floating foreign exchange rates;

when a country’s official exchange rates diverge significantly from market prices and citizens are not permitted to get foreign money, foreign enterprises may find it difficult to conduct business there (Coppola, n.d.).

Financial liberalization

Some systems allow beneficiaries of certain types of exchange to sell a part of their receipts on the free market. A managed exchange rate is frequently higher than a free-market rate, reducing exports while increasing imports. The control authority can limit imports by restricting the amount of foreign exchange a resident may buy (Britannica, n.d.). As a result, the country’s overall gold reserves and foreign balances will not drop.

Regardless of the many advantages of capital control, there are still a number of negative factors to be considered. For instance, the distribution of resources would be inefficient if credit was determined administratively rather than by market price. Because the most promising initiatives would not be supported and hence would not contribute to economic growth, this poor allocation would exacerbate the negative impact on growth (Masci, n.d.).

Financial liberalization

Also, Access to credit would be granted for developmental purposes to big state owned and private companies, while the rest of the economy will only have some access to consumer credit (Masci, n.d.). Moreover, Individuals would find methods to export capital internationally, runaway inflation, putting pressure on the exchange rate. Administrative interest rates would undervalue actual interest rates, give an incentive to reduce savings and investment and also have a negative influence on the pace of economic growth (Masci, n.d.).

Financial liberalization

According to Kose and Prasad (2020), Capital account liberalization should theoretically allow for more efficient global capital allocation from capital-rich industrial countries to capital-poor developing economies, with widespread benefits such as higher rates of return on people’s savings in industrial countries and increased growth, employment opportunities, and living standards in developing countries. It also allows for risk sharing opportunities by demonstrating that international financial integration should lead to a decrease in consumption volatility relative to output volatility (Masci, n.d.).

Financial liberalization

Finally, financial liberalization provides protection against national income fluctuations while also demonstrating a country’s commitment to sound economic policy (Kose and Prasad, 2020). A perceived deterioration in the policy environment for a nation with an open capital account might be penalized by local and international investors, who might rapidly withdraw money. This offers a powerful incentive for governments to adopt and sustain solid policies, with evident long-term growth advantages (Kose and Prasad, 2020).

Want help to write your Essay or Assignments? Click here

Financial liberalization

Federico and Tena-junguito (2016) estimated that since the 1950s, the growth in the proportion of international commerce in GDP had added around 5% to global wealth. With a global GDP of $85 trillion in 2018, the incremental trade advantages since the 1950s amount to around $4.3 trillion in global revenue.

Financial liberalization has also boosted finance, technology, and talent flows, boosting earnings and increasing living standards (Petri and Banga, 2020 p.3). According to other research, the United States has profited from globalization even more than the rest of the globe. According to Petri and Banga (2016), advancements in globalization added $0.8 trillion–$1.5 trillion, or 11 percent–14 percent, to the US GDP of $11 trillion in 2003, between 1947 and 2003.

Financial liberalization

Extrapolating these figures to 2018 GDP, economic interconnectedness has contributed $2.2 trillion since 1947. Unfettered access to international market has brought about both net benefit as well as certain disruptions to developing countries for the past two and a half years. To developing countries, financial liberalization and integration has brought about abundant benefits that are verifiably both theoretically and through empirical evidence as well as a number of disruptions to their economy.

Firstly, liberalization has brought about the elimination of barriers to international investing whereby both the government and private organizations are allowed to business with minimal restrictions. Tax rules, foreign investment limitations, legal challenges, and accounting requirements are all examples of barriers that make it difficult or impossible to access the international market (Barone, 2020).

Want help to write your Essay or Assignments? Click here

Financial liberalization

During the 1980s through to early 1990s, a great banking crisis occurred that is considered to be one of the worst global credit disasters in history. The crisis drove the United States’ state and federal regulatory and deposit banking insurance systems to their breaking points, resulting in broad regulatory revisions (Summa, 2014). The Depository Institutions Deregulation Committee and Monetary Control Act of 1980, which removed many restrictions on thrifts and credit unions, and The Tax Reform Act of 1986, which fundamentally altered the banking landscape and engendered conditions that contributed to the banking crisis, were both passed prior to the onset of the crisis (Summa, 2014).

This was considered to be the primary cause of the banking crisis of that time. In order to rescue the banking sector. The United States’ economic comeback has been aided by liberalization and economic contact with the rest of the globe. Their relatively open borders, which let most foreign goods to enter with no or modest tariffs, have helped keep inflation in control, allowing the Federal Reserve to ride out the good times without raising interest rates as swiftly as it could have otherwise (Summa, 2014).

Financial liberalization manifests its positive impact through the rather increase in demand for domestic goods internationally for both developed and developing countries. By increasing the involvement of developing countries into the international market, it becomes evident through an increasing export and import volumes, as well as expanding outflows of domestic savings into international investment projects and increasing inflows of foreign capital into local enterprises (Masci, n.d.).

According to a report made by the office of the unites states trade representative (n.d.), The United States was the world’s top goods and services trading nation in 2017, with $2.35 trillion in exports. The total value of goods and services traded in the United States in 2017 was $5.3 trillion, up 6.5 percent ($321 billion) from 2016 and up 31% from 2007. The value of US goods trade was $3.9 trillion, while the value of US services trade was $1.3 trillion.

Despite the large number of benefits that are associated with financial globalization, there are also disruptions that come with liberalization. One is the transitional risks that accompany it. Despite a significant rise in global gross capital flows, net capital flows to developing countries have typically been minimal, if not negative (Broner and Ventura, 2016).

Want help to write your Essay or Assignments? Click here

Financial liberalization

Traditional models acknowledge that foreign sources of funding can be problematic, since the incentive for opportunistic default coupled with low-quality institutions can lead to recurring foreign debt crises. They also expect that domestic savings stay in the country and that new foreign sources of financing add to overall development funding (Broner and Ventura, 2016).

The chief concern in the US is that the economy is delivering a disproportionate share of gains to the wealthiest few. According to Census data, from 1970 to 2018 the median US household income rose from $50,545 to $63,179, or by 0.46% per year, while that of the top 5% of households rose from $192,603 to $416,520, or by 1.62% per year (Semega et al., 2019). In 1970, a high-income household earned 3.8 times as much as the median household, but this ratio had grown to 6.6 by 2018.

Want help to write your Essay or Assignments? Click here

Financial liberalization

Still more extreme contrasts emerged between richer and poorer households, and amongst subgroups by levels of education. In turn, inequality may have contributed to other trends such as withdrawal from the labour force, increased mortality and morbidity, and political polarization (Broner and Ventura, 2016). These trends are not direct results of liberalization, but they are often attributed to trade in popular discussions. 

Is it worth the risk of liberalization? It depends, as it would with most things. Capital account liberalization is definitely not a perfect solution, and it comes with significant dangers if it is implemented in poor conditions, especially without accompanying measures (Kose and Prasad, 2020). While data indicate that capital account liberalization is linked with transitory risks, fighting it for a lengthy length of time may be useless and harmful. Closed capital accounts are becoming more difficult to maintain as the forces of globalization progress (Kose and Prasad, 2020).

References of Financial liberalization

Ballotpedia, n.d. emergency banking act. [online] Available at: https://ballotpedia.org/Emergency_Banking_Act[Accessed June 5, 2021]

Banton, C., 2021. Trade liberalization. [online](Updated March 24, 2021) Available at: https://www.investopedia.com/terms/t/trade-liberalization.asp [Accessed June 5, 2021]

Barone, A., 2020. Capital control. [online](updated December30, 2020) Available at: https://www.investopedia.com/terms/c/capital_conrol.asp [Accessed June 4, 2021]

Britannica, n.d.. Exchange control. [online] Available at: https://www.britannica.com/topic/exchange-control [Accessed June 5, 2021]

Broner, F. and Ventura, J., 2016. Rethinking the Effects of Financial Globalization. Available at: https://academic.oup.com/qje/article/131/3/1497/2461106 [Accessed June 4, 2021]

Chen, J., 2021. Bretton woods agreement and system. [online](updated April 28, 2021) Available at: https://www.investopedia.com/terms/b/brettonwoodsagreement.asp [Accessed June 5, 2021]

Coppola, F., n.d.. How capital and exchange controls affect international trade. [online] Available at: https://www.americanexpress.com/us/foreign-exchange/articles/capital-controls-in-developing-economies-affect-international-trade/ [Accessed June 5, 2021]

Corporate finance institute, 2015. Capital controls.[online] Available at: https://corporatefinanceinstitute.com/resources/knowledge/economics/capital-controls/ [Accessed June 4, 2021]

Federico, G. and A. Tena-Junguito 2016. ‘A Tale of Two Globalizations: Gains from Trade and Openness 1800–2010’, CEPR Discussion Papers, No. 11128. London: Centre for Economic Policy Research. 

Fernando, J., 2021.Globalization. [online](updated May 17, 2021) Available at: https://www.investopedia.com/terms/g/globalization.asp [Accessed June 5, 2021]

Giambruno, F., n.d. Capital controls are coming. [online] Available at: https://internationalman.com/articles/capital-controls-are-coming/ [Accessed June 5, 2021]

Kose, M.A and Prasad, E., 2020. Capital Accounts: Liberalize or Not? [online](updated February 24, 2020) Available at: https://www.imf.org/external/pubs/ft/fandd/basics/capital.htm [Accessed June 4, 2021]

Masci, P., n.d. Financial Liberalization, Economic Growth, Stability and Financial Market Development in Emerging Markets. [online] Available at: https://www.bpastudies.org/index.php/bpastudies/article/view/68/146 [Accessed June 4, 2021] 

Office of the united states trade representative, n.d. Benefits of trade. [online] Available at: https://ustr.gov/about-us/benefits-trade [Accessed June 5, 2021]

Petri, P.A. and Banga, M., 2020. The economic consequences of globalization in the United States. [pdf] Available at: https://www.eria.org/uploads/media/discussion-papers/The-Economic-Consequences-of-Globalisation-in-the-United-States.pdf [Accessed June 5, 2021]

Semega, J., Kollar, M., Creamer, J., and Mohanty, A., 2019. Income and Poverty in the United States: 2018 – Current Population Reports. Washington, DC: United States Census Bureau. 

Summa, J., 2014. From Booms To Bailouts: The Banking Crisis Of The 1980s. [online](Updated September 10, 2014) Available at: https://www.investopedia.com/articles/financial-theory/banking-crisis-1980s.asp [Accessed June 5, 2021]

Want help to write your Essay or Assignments? Click here

 

Financial liberalization

RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY
RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

Want help to write your Essay or Assignments? Click here

RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

The product development process in the health and pharmaceutical industries is complicated, time-consuming, and expensive. Research and development expenditures have an impact on policy choices and judgments on how to effectively stimulate innovation to satisfy health demands and make final goods affordable (Swagel, 2021). 

According to a recent research published in the Journal of Health Economics by the Tufts Center for the Study of Drug Development (2016), the cost of developing a new drug that receives FDA clearance is estimated to be $2.6 billion. This is up from $802 million in 2003, which is over $1 billion in 2013 dollars, representing a 145 percent growth during the ten-year research period. 

While the average time it takes to get a medicine through drug testing has reduced, the success rate has dropped by nearly half, to only 12%. Tufts breaks down their $2.558 billion figure per approved compound into $1.4 billion in estimated out-of-pocket payments and $1.2 billion in time expenses.

Pharmaceutical businesses rely largely on patents to preserve their enormous efforts and investments. Patents grant a pharmaceutical business a 20-year monopoly period during which it has market exclusivity and can charge a monopoly price for its medicines. In order to recuperate investments and incentivize them to engage in additional innovation, substantial patent protection is required (Gurgula, 2020).

Want help to write your Essay or Assignments? Click here

When a patent expires, however, other businesses may produce generic versions of a branded medicine and compete with the original for market share. This is what is referred to as generic competition. Generic medications are bioequivalent copies of branded pharmaceuticals whose patent protection has expired (Gurgula, 2020).

Some pharmaceutical corporations, however, may utilize the patent system to get a slew of secondary patents that construct multi-layer protection around their profitable drugs, allowing them to evade merit-based competition. Pharmaceutical corporations can use strategic patenting to improve their monopolistic positions and charge high medicine costs as a result. 

This strategy goes against the common objective of patent and competition laws, which is to incentivize innovation, because it diminishes the incentives for innovators, hurts generic businesses’ follow-on innovation, and upsets the delicate balance between patent monopoly and competition (Gurgula, 2020). Various reasons for high drug prices and the growing focus on incremental innovation are put forward by pharmaceutical companies, including the complexity of drug discovery and development, as well as the expensive and lengthy regulatory procedures involved.

Want help to write your Essay or Assignments? Click here

RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

As the COVID-19 pandemic is sweeping through the world, thousands of people urgently need access to affordable medicines. However, there is concern that patents would limit access to any future vaccinations and treatments, resulting in unaffordable high pricing. This dilemma is aggravated by the fact that, despite purported increases in pharmaceutical R&D spending, current figures show a decline in the number of new breakthrough treatments. Furthermore, rather than breaking new ground, pharmaceutical companies are increasingly focusing their research on incremental medication development (Gurgula, 2020).

RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

References

DiMasi, J.A., Grabowski, H.G., Hansen, R.W., 2016. Innovation in the pharmaceutical industry: New estimates of R&D costs.Massachusetts: Tufts University.

Gurgula, O., 2020. Strategic Patenting by Pharmaceutical Companies – Should Competition Law Intervene? [online](updated October 28, 2020) Available at: https://link.springer.com/article/10.1007/s40319-020-00985-0#Sec10[Accessed June 1, 2021]

Philip L. Swagel, 2021. Research and Development in the Pharmaceutical Industry. [online] (updated April 2021) Available at: https://www.cbo.gov/publication/57126 [Accessed June 1, 2021] 

Want help to write your Essay or Assignments? Click here

 

RESEARCH AND DEVELOPMENT IN THE PHARMACEUTICAL INDUSTRY

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America 2021

Effect of Migration on Marital Quality
Effect of Migration on Marital Quality

Want help to write your Essay or Assignments? Click here

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

The Biblical Rationale :

Marriage has been given profound importance in all religions specifically in Christianity. There is substantial articulation in both Hebrew and Bible about the importance, benefits both in eternal and worldly life, and the impacts of undermining marriage. The basis of marriage is possessed by the Biblical Eden in which it is considered as a holy institution.

The religious importance of marriage can be evaluated and gauged by the fact that God presided over the first-ever marriage by offering Eve to Adam. We all are a generation of Adam and Eve and God itself has given substantial importance to marriage as can be seen in the scripture of the Bible and God adores the marriage in the Church. Therefore, there is no denying the fact that marriage has an inevitable role in strengthening Christian communities and societies.

In addition to the manifestation of the Bible about marriage, many researchers and scholars conceded the fact that marriage is the bedrock of any stable or mainstream community. “And the two will become one flesh’. This is a profound mystery – but I am talking about Christ and the church” (Ephesians 5.31–32). Marriage is the gift of God and God considered marriage crucial not only for the individuals who are marrying but also for the evolving human societies.

The Church, therefore, rejects as false all efforts to understand marriage (and all other human relationships) independently of the call to discipleship. In Christianity, discipleship is the true following of the way of Jesus Christ

You are reading Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Dynamic patterns concerning Christian Marital issues require ordinary, refreshed investigations, trying to dispose of ‘deadly’ obliviousness. Peter Brierley, cited Tidball’s perception; “…something is truly amiss with the congregation” and Riddell’s congregation is in a difficult situation and doesn’t know it”. Among these inconveniences are the expanding circumstances of Marital trouble that bargain certain Christian practices when all is said in done and the Ghanaian Adventist Christian transient couples specifically.

Even though instances of factual records abound and by and large vouch for passionate scars endured by numerous individuals with their comparing consequences for society, the pattern proceeds with unabated. It is accepted inside the Christian people group that scriptural Christianity proposes a potential enduring glad Marital relationship, where magnanimous love may connote Christian development.

You are reading Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

However, the truth of existing relationships including that of GACMs comes up short. While it very well might be viewed as ordinary somewhere else, with resolute non-debatable customs of exacting hierarchical (SDA) translation of Scripture in certain circles, combined with comparing African social impacts, GACMs find nearly everything amiss with troublesome relationships particularly when they end in separate.

In pretty much every culture, separate from influences more than the couples in question. While a few casualties suffer hopelessness peacefully being shy of different choices ladies, experience some friendly demonization for being separated. Thusly a few couples shroud troubles even from companions and the congregation. As such, whole networks generally have a stake and may languish some detachment over family members’ Marital pressures. Such Marital issues whether they end in partition or separation convey with them numerous casualties.

Want help to write your Essay or Assignments? Click here

You are reading Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

In actuality, such a choice may affect the actual endurance of the tranquil conjunction of included networks. As a matter of first importance, this examination researches potential purposes for Marital troubles noted among Ghanaian transients explicitly GACMs in Britain which regularly make fears and doubt among couples and local area pioneers. Stories of genuine circumstances proliferate (among GACMs) of how couples’ conduct and mentalities out of nowhere change following settlement in Europe.

Subsequently, some Ghanaians lean toward a drawn-out partition and decide to leave companions in Ghana for genuine feelings of serenity. Ghanaian relationships will undoubtedly get troublesome with a high likelihood of finishing off separate. The gathering’s administration faces the real factors of assimilation and lawful limitations, combined with a misconstrued social view of their issues inside a 21st century’s non-absolute climate.

Other extra issues for the administration include: Dealing with expanding divorce rates, indefinite partition of couples while in Britain with accompanying doubts, Non-responsibility issues, for example, co-habiting believers.

Church Discipline:
For instance, some administrations face allegations of cumbersomeness with anomalies of progressively moral and opinionated contentions against their treatment of marital concerns. Argumentative and frequently begging to be proven wrong church disciplinary inconsistencies, follow co-residence, partition, separation, and remarriages consequently influencing resulting church cooperation trying to keep up chapel discipline.

Existing measurable documents imply that likely the pace of expansion in the overall Christian separation issue is in proportion to the Christian churches needed to address and contextualize the commonsense real factors of contemporary scenes in holy places today. Also, almost certainly, there are a few casualties of these Marital quandaries inside the Ghanaian social direction while kids and different casualties get cleared along by the breakdown of Ghanaian relationships.

You are reading Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Implications regarding Immigrants:
The concept of marriage may vary from societies to societies but nearly all societies see marriage favorably. In the American context too, marriage is also considered as the firm bonding for societal stability but certain causes are undermining this aspect of marriage like migration. The African migrations and the immigrants coming to America are dissolving their marriage substantially which is prompting feelings of distress, depression, and anxieties in the communities.

The interaction of these migrants with natives, clash of cultural norms, and inappropriate guidance from the church leaders further intensify these types of issues. To offer a piece of good advice, Bible also articulates the examples of those immigrants who faced countless challenges at their time. For example, in Genesis 12:1, Bible manifests how God gave instructions to Abraham to leave the house of his father for that new land, which God would show to him. The other examples include Moses and Joseph, who left their native land and became migrants.

Want help to write your Essay or Assignments? Click here

These people were the influencers of that time and due to only one reason, they conceded the order of migration from God and that reason was the inherent trust in God.
Adoption of Culture:

You are reading Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

As the study aims to unveil the inherent prospects of the Ghanaian culture about the impact of migration of marriage, it is crucial to deliberate the cultural impact on the interpretation of the Bible. According to various scholars, it is crucial to consider the cultural framework while interpreting the verses of the Bible and also noted that many different cultures have different world views which have been shaped by their distinct cultures.
For the people who are migrating from their native land to another land, it is formidable for them to adopt the culture of the migrated area.

The evaluation of culture is also important to perceive the message of the Bible accurately. There is no denying the fact that God has created Bible for diverse cultures and these cultures cannot be ignored. Western culture is without a doubt among the powers that have formed the encounters and relationships of transients from sub-Saharan Africa.

You are reading Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Leaving the outsiders feeling secluded and estranged is among the impacts of Western culture. For instance, Massey and Higgins discovered that unfamiliar societies affected foreigners’ confidence. They saw that devotees who were beforehand resolute in their Christian confidence practice were probably going to turn out to be less strict when they moved toward the West. They infer that “detailed church participation at spots of source and in the United States recommend that migration is a problematic occasion that estranges migrants from strict practice instead of “theologizing” them.”

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Clifford MeesuaSibani offers a charming conversation on the progressions that travelers experience when presented to Western impacts. Travelers who move to Western nations receive Western qualities, and subsequently, they can’t assemble relationships that last. For instance, Sibani noticed that in African societies, relationships are a mutual undertaking where families and the local area become engaged with cooperating and issue harsh alerts against such indecencies as infidelity.

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Then again, in the West, relationships are an individual matter, and the local area assumes a restricted part. At the point when they leave Africa, hitched adherents lose the advantage of connection and local areas that are profoundly instilled in African culture. It is little marvel that as Amato and James set up, the U.S. furthermore; Europe leads the world concerning divorce rates. At the point when they get comfortable in these districts, African Christian migrants are presented to a raised danger of separation.
Laws:

The laws in objective nations fundamentally sway the relationships of African transients. Across numerous African countries, polygamous relationships are perceived and cherished in the law. Then again, in the West, polygamy is unlawful, with those discovered taking part in this work on confronting weighty authorizations. The distinction in the ways to deal with polygamy among Africa and the West somewhat clarifies the ascent in separate from cases among African migrants.

For instance, as indicated by Baloyi, the breakdown in African relationships and families is the conflict between the African partiality for polygamous relationships and the Western demand that a man must be hitched to one lady at a given time. The laws overseeing divorce are likewise forming the relationships of African settlers. Tallied accused the higher commonness of separation among these foreigners in light of the fact that, in the Western nations where they settle, the laws on separate are generally careless.

Want help to write your Essay or Assignments? Click here

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Financial Reliance: Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Financial reliance is another factor that seems to impact marriage and separation among African foreigners in the West. For some settlers from Africa, the quest for better financial possibilities is among the fundamental drivers of movement. Basically, the outsiders look for a getaway from the destitution and monetary difficulties that are endemic across the African landmass. Examination by researchers like Hogendoorn et al. has affirmed a relationship between monetary weakness and separation.

Basically, moderately helpless people are more defenseless and bound to encounter issues that set up for separate. A few different analysts have likewise settled that neediness is a critical danger factor for separate and Marital issues. Since they are destitute and monetarily reliant on the West, African foreigners are almost powerless as their relationships lay on the nations’ monetary strength and liberality that have them.

Another way that African migrants’ financial reliance on the West has on marriage is that the dependence forces strains and weights on settlers’ families. For instance, each year, African workers dispatch tremendous entireties back to their nations of origin. While these settlements help to construct African economies, it is sensible to assume that they leave the workers monetarily depleted.

It is for sure conceivable that as they send cash home, the settlers are left with scarcely enough for their food. The monetary troubles that they face could trigger marital issues that finish in separate. Research demonstrates that monetary difficulties are among the indicators of separation. Accordingly, their families and networks’ financial reliance on African settlers causes pressure and can contribute to divorce cases.

Want help to write your Essay or Assignments? Click here

However, different analysts have inspected marriage and separation rates among African workers living in the West, some evident holes underscore the significance of the task. For instance, while some research has investigated outsiders’ encounters from Africa, Ghanaians have not gotten a lot of consideration. Existing research is fairly broad and doesn’t offer explicit bits of knowledge into the encounters of Ghanaian foreigners. Auxiliary, scientists will in general zero in on effect of movement on separate without the fundamental treatment of components of conjugal quality or avoidance of separation.

Consequently, zeroing in on marriage quality this research fits a hole on avoidance. Thirdly, there isn’t surviving writing or research that arranges the issue inside Christian experience. Generally, the current writing examines the causes and effects of migration status on African foreigners’ relationships. By creating explicit mediations that the settlers can embrace, the current undertaking will expand the research scope.

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

References:
Anarfi, J. K. (1993). Sexuality, migration and AIDS in Ghana-A socio-behavioural study. Health Transition Review, 45-67.

Chattopadhyay, A., White, M. J., & Debpuur, C. (2006). Migrant fertility in Ghana: Selection versus adaptation and disruption as causal mechanisms. Population studies, 60(2), 189-203.

Falen, D. J. (2008). Polygyny and Christian marriage in Africa: The case of Benin. African studies review, 51-74.

Charsley, K., Storer‐Church, B., Benson, M., & Van Hear, N. (2012). Marriage‐related migration to the UK. International Migration Review, 46(4), 861-890.

Familusi, OlumuyiwaOlusesan. “Till Circumstances do us Part: A Socio-Ethical Analysis of Divorce among Christians in Nigeria.”Global Journal of Human-Social Science: A Arts & Humanities-Psychology 19.5 (2019), 23-32.

Fenske, James. “African polygamy: past and present.”Journal of Development Economics 117 (2015), 58-73.

Fielder, Klaus. “For the sake of Christian marriage, abolish church weddings.”ERT, 41.4 (2017), 355-68.

Flahaux, Marie-Laurence and de Haas, Hein. “African migration: trends, patterns, drivers.”Comparative Migration Studies 4.1(2016), 1-25.

Garland, David E. Reading Matthew: A Literary and Theological Commentary on the First Gospel. Macon, GA: Smyth &Helwys Publishing, 2001.

“Ghana.”Migration Policy Institute. 2020.

Gonzalez-Garcia, Jesus, Hitaj, Ermal, Mlachila, Montfort, Viseth, Arina and Yenice, Mustafa. Sub-Saharan African migration. Patterns and spillover”, International Monetary Fund; 2016,

Effect of Migration on Marital Quality and Stability of Ghanaian Christian Couples in America

Want help to write your Essay or Assignments? Click here

Effect of Migration on Marital Quality