Constructing a Bridge to Link the Riverina Highway to the Hodge Island Reserve

Constructing a Bridge to Link the Riverina Highway to the Hodge Island Reserve Introduction The Murray River is one of the most important waterways in the entire Australian continent. The river is the lifeline of hundreds of thousands of people who live along its banks. This proposal presents the requirements for constructing a bridge to link the Riverina Highway to the Hodge Island Reserve. The Bridge will open up the Island for tourist activity, and in the process, it will improve the economy of New South Wales (NSW).Advertising We will write a custom report sample on Constructing a Bridge to Link the Riverina Highway to the Hodge Island Reserve specifically for you for only $16.05 $11/page Learn More The aim of the bridge construction project is to provide tourists with a means of accessing the Hodge Island Reserve for camping and for leisure activities. The project objective is to build a 100-meter bridge to serve as the access route to the Hodge Island reserve. The rationale for the construction of this bridge is as follows. First , the Hodge Island reserve is currently uninhabited and it serves as a breeding ground for various animals. The island has the potential of employing more than 5000 people directly and indirectly if the NSW government opens it up for tourism. The Island is an ideal camping ground and can serve a mooring bay for boats. The government will not construct permanent structures on the reserve. It will identify ideal camping spots and make sites for pitching tents. This will ensure that there is minimum disturbance of the environment of the island. Figure 1: Map Showing the Proposed Location of the Hodge Island Bridge Bridge Design The Hodge Island Bridge should meet the following design constraints. First, the construction process and the final structure should not lead to major disturbance of the natural environment of the Hodge Island Reserve. The reserve serves as a breeding ground for several species of animals. Extensive damage to their habitat because of bridge construction may lea d to permanent loss of breeding grounds for these animals.Advertising Looking for report on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Secondly, the bridge should avoid the riverbanks to ensure that the water way is not disturbed. Thirdly, the final design of the bridge and its access road should not disturb traffic on the Riverina Highway. The bridge should be large enough to accommodate camping trucks, and should be able to support light traffic. The bridge should also have a pedestrian walk way. Since the bridge will lead to a reserve, it will require a barrier to ensure that only authorised traffic enter the Island. The best bridge design for this project is a cable stayed suspension bridge. This will require only two supports in the waterway, and minimal works on the riverbanks. The proposed design for the is shown in Figure 2 below Figure 2: Sketch of a Cable Stayed Suspension Bridge The dimensions of the Proposed Bridge are as follows. The central span will be 100 meters, the deck spans will be 20 meters each. The width of the decks will be 5 meters to accommodate two-way traffic and a pedestrian walk way. The abutment will be 10 meters. SWOT Analysis Table 1 below presents the SWOT analysis for the bridge construction project Strengths Weaknesses The chosen bridge design is popular in Australia. This will make it easy to conduct accurate feasibility studies and impact assessments. The construction company has experience in making such bridges in many part of Australia There will be little or no disturbance to the traffic on the Riverina highway because of the proposed location of the bridge The inclusion of a barrier will promote controlled access. This will eliminate overuse and will increase the confidence of the environmental regulators in the sustainability of the reserve There will be some disturbance to the environment during construction from debris and noise . This may lead to pollution of the river water, and the death of some organisms The project will also lead to the loss of some trees and plants to make way for the embankments and the anchorage blocks. Micro ecosystems in the immediate area of the bridge will be lost. Opportunities Threats The bridge will help create 5000 jobs in the post construction phase, and another 300 jobs in the preconstruction and construction phases. This will help reduce unemployment in NSW The bridge will position NSW as a tourist destination because it will make the Hodge Island Reserve accessible to tourists The Bridge will also increase the sense of ownership of the reserve among the locals because it will enable them to enjoy its benefits There may be resistance from environmental activists who would not like to see the Island opened up for human activity. This may influence the state government The riverbanks may prove unstable because of the silt deposited during the formation of the is land. This may complicate the construction of the embankments, and may increase the cost of the project Unstable prices of construction material and the high cost of labour will also complicate the project Table 1: SWOT AnalysisAdvertising We will write a custom report sample on Constructing a Bridge to Link the Riverina Highway to the Hodge Island Reserve specifically for you for only $16.05 $11/page Learn More Technical Challenges This project has three main technical issues. These are the design of the bridge, the construction process, and the maintenance requirements in the post construction phase. The design of the bridge is a technical challenge because of the possibility that the riverbanks may not support the weight of the bridge. This means that extensive civil works may be necessary to ensure that the final structure is stable. The choice of a cable-stayed bridge came from the need to for minimal disturbance of the waterway. The construction process will also be technically challenging. Any construction process inevitably leads to the accumulation of debris. It is crucial for the contractors to come up with construction processes that will lead to the least accumulation of debris in the construction site. One of the options of achieving this goal is to commission a secondary site for the construction of all steel parts for later assembly. The third technical challenge associate with the project is the maintenance requirements of a cable-stayed bridge. Cable stayed bridges require regular inspection to ensure that all parts are functioning well. The bridge will have exposure to local humid conditions, as well as fluctuations in the weather patterns. The NSW government will need to appoint a maintenance contractor after the commissioning of the bridge. Economic Analysis The main costs associated with this project are as follows The Net Present Value The following calculation gives Net present Value (NPV) of the project.A dvertising Looking for report on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More F = P(1+i)n Where F = Future Value P = Principal i = Interest rate (10% pa) n = number of years (5 years) The NPV for this project is $ 7649922.5 Payback Period The projected income from this project is estimated at $2,000,000 per year. The Simple Payback Period (SPP) in this case is given by F/I Where F = Future Value I = Income Therefore, SPP = F/I = 7,649,922.5/2,000,000 = 3.8 years Environmental Impacts This project will have a varied number of environmental impacts. Table 1 below provides an analysis of these impacts and the mitigation measures applicable for each case. Category Impact Mitigation Measures Direct Indirect Cumulative Cultural Impacts The arrival of tourists at the Hodge Island reserve will lead to cultural interaction between the local population and the tourists Tourists will become potential immigrants to the region if they like the environment A population surge will occur as more people join the nearby communities, leading to alterations in the local culture. A greater population will lead to more pressure on resources Stricter immigration policies to guard against a population surge Economic Impacts NSW will make money from tourist activities at the Hodge Island Reserve, and from other supporting industries such as transport, and entertainment. There will be more jobs for locals directly at the reserve and indirectly in industries supporting activities at the reserve. Jobs will be created during the construction phase of the project The increased earnings from the reserve will increase the capacity of the NSW government to take care of the reserves in its jurisdiction The GDP of NSW will increase based on earning from activities at the Hodge Island Reserve Ensure that all businesses operating in the reserve are licensed and are tax compliant Water Quality Debris from the constructions site will pollute river water. Siltation will result from the drying of concrete lumps on the river bed D ebris (concrete remains, silt from excavation works, )will affect water flow characteristics and Debris will also have an adverse short term impact on current downstream uses of the river water for the period of construction Alteration of the water quality Divert the river course during construction work on the river bed Use construction nets to catch falling debris Flora and Fauna Permanent loss of Flora and Fauna displaced by bridge Loss of breeding and nesting grounds due to changes in water flow characteristics along the river Debris may lead to death of certain species that are not tolerant to constructions waste. Loss of breeding and nesting grounds due to changes in water flow characteristics may lead to an upset of the ecological balance of the river basin, leading to further unpredictable ecological changes Permanent changes in the ecology of the river basin with greater effects being felt downstream Assess flora and fauna that will be affected and develop a response strategy based in extent of effect Table 2: Environmental Impact Assessment Risk Analysis A construction project always has a number of inherent risks. The risk management Matrix below in Table 3 presents the profiles of the risks, their assessment and management options. Risk Profile Risk Assessment and Management Category Specific Risks Sources of Risk Impact Probability Priority Actions Technical Risks Design failures Design failure can result from wrong assumptions about the conditions of the construction site. Design failures can also result from poor design skills. 5 1 5 Carry out a site assessment before the commencement of the construction Use of low quality materials This risk can occur if the suppliers of the raw materials do not provide the right kind of materials for the project 5 2 10 Procure materials from reputed firms. Test each batch delivered before committing them to the project Financial Risks Cash flow constrains Cash flow constraints can result from failure by the NSW government to remit payments in tandem with the construction schedule. This can in turn affect the overall project duration leading to an increase in overheads 1 4 4 Negotiate for large payouts Budget overshoot The project can go above budget if there is need to repeat the construction process because of poor construction material or poor applications of the materials. This risk can also occur of there is an increase in the work needed to deliver the project objectives such as the need to carry out more excavation to ensure the stability of the final structure. 2 4 8 Cost underestimation The cost of materials can change very rapidly. If this happens, then the finances of the project will be insufficient. It may also occur if the company conducts a poor project appraisal 1 5 5 Ask the NSW government to allow for fluctuations in the cost of materials for the project. Appoint a project economist to appraise the proposal to elim inate underestimation of costs. Environmental Risks Noise Pollution Construction equipment will cause noise during the construction of the project. 5 3 15 Warn the neighbor of the noise levels that will emanate from the site, and schedule all noisy activities to reduce the number of people affected by the noise Water pollution Falling debris and excavation works will lead to the pollution of the water in the river 3 5 15 Use construction nets to catch falling debris Destruction of Flora and Fauna It is necessary to cut down some trees and to clear bushes around anchorage of the bridge 3 4 12 Cut as few trees as possible Project Risks Labor unrest Labor unrest may result from poor working conditions, poor pay, or because of dangerous working conditions 2 5 10 Ensure that all workers have adequate protective apparatus while at work Negotiate with the workers for competitive rates that are within the budget estimates Ensure that workers have comfortable and predictable workin g schedules Project scope creep There will be need to construct a driveway to the bridge and one after it to access the part. These driveways are not part of the bridge construction process. 2 5 10 Ensure that the scope statement is agreed upon before the construction process starts Time (Approvals and getting supplies) This risk can occur of there are delays in approvals or the release of funds. Such delays can occur in case on an instability in the government 2 4 8 Negotiate for large payments reduce the need for approvals during the life of the project. Table 3: Risk Management Matrix Reference List FHWA 2011, Technical Manual for Design and Construction of Road Tunnels Civil Elements. Web. Karim, SBA, Berawi, MA, Yahya, IA, Abdul-Rahman, H Mohamed, O 2007, The Integration of Value and Risk Management In Infrastructure Projects: Learning from Others, Quantity Surveying International Conference., Value Management Centre (VMC), Faculty of the Built Environment, Universit y of Malaya, Kuala Lumpar. Kerzner, H 2009, Project Management: A Systems Approach to Planning, Scheduling and Controlling, 10th edn, John Wiley and Sons, Hoboken, NJ. Lingard, H Rowlinson, SM 2005, Occupational Health and Safety in Construction Project Management, Taylor Francis, Oxon. Othman, AA 2005, Value and Risk Management Protocol for Dynamic Brief Development in Construction, Emirates Journal for Engineering Research, vol 10, no. 2, pp. 23-36. Tejavibulya, P Eiamkanchanalai, S 2011, The Impacts of Opinion Leaders towards Purchase Decision Engineering under Different Types of Product Involvement, Systems Engineering Procedia, vol 2, no. 1, pp. 12-22.

Balanced Equation Definition and Examples

Balanced Equation Definition and Examples A balanced equation is an equation for a chemical reaction in which the number of atoms for each element in the reaction and the total charge are the same for both the reactants and the products. In other words, the mass and the charge are balanced on both sides of the reaction.Also Known As: Balancing the equation, balancing the reaction, conservation of charge and mass. Examples of Unbalanced and Balanced Equations An unbalanced chemical equation lists the reactants and products in a chemical reaction but doesnt state the amounts required to satisfy conservation of mass. For example, this equation for the reaction between iron oxide and carbon to form iron and carbon dioxide is unbalanced with respect to mass: Fe2O3 C → Fe CO2 The equation is balanced for charge  because both sides of the equation have no ions (net neutral charge). The equation has 2 iron atoms on the reactants side of the equation (left of the arrow), but 1 iron atom on the products side (right of the arrow). Even without counting up the quantities of other atoms, you can tell the equation is not balanced. The goal of balancing the equation is to have the same number of each type of atom on both the left and right sides of the arrow. This is achieved by changing the coefficients of the compounds (numbers placed in front of compound formulas). The subscripts are never changed (small numbers to the right of some atoms, as for iron and oxygen in this example). Changing the subscripts would alter the chemical identity of the compound! The balanced equation is: 2 Fe2O3 3 C → 4 Fe 3 CO2 Both the left and right sides of the equation have 4 Fe, 6 O, and 3 C atoms. When you balance equations, its a good idea to check your work by multiplying the subscript of each atom by the coefficient. When no subscript is cited, consider it to be 1. Its also good practice to cite the state of matter of each reactant. This is listed in parentheses immediately following the compound. For example, the earlier reaction could be written: 2 Fe2O3(s) 3 C(s) → 4 Fe(s) 3 CO2(g) where s indicates a solid and g is a gas Balanced Ionic Equation Example In aqueous solutions, its common to balance chemical equations for both mass and charge. Balancing for mass produces the same numbers and kinds of atoms on both sides of the equation. Balancing for charge means the net charge is zero on both sides of the equation. The state of matter (aq) stands for aqueous, meaning only the ions are shown in the equation and that they are in water. For example: Ag(aq) NO3-(aq) Na(aq) Cl-(aq) → AgCl(s) Na(aq) NO3-(aq) Check that an ionic equation is balanced for charge by seeing if all of the positive and negative charges cancel each other out on each side of the equation. For example, on the left side of the equation, there are 2 positive charges and 2 negative charges, which means the net charge on the left side is neutral. On the right side, there is a neutral compound, one positive, and one negative charge, again yielding a net charge of 0.

Historical events that have shaped America Essay

Historical events that have shaped America - Essay Example When breaking down the essence of America in this way, it becomes possible for a few key events to float to the top of each category as being critical in the evolution of the United States. Of course, this determination is largely a matter of opinion. Nevertheless, a concrete case can be made for three major historical developments as the most essential factors shaping America. In the political realm, the Enlightenment is the first factor. In the economic realm, the Industrial Revolution is the second factor. And in the military realm, World War II is the third factor. Taken together, these three factors comprise a triad of events in whose absence the America we know today could never have possibly come into being. The Enlightenment was arguably the most important historical event influencing the United States governmental and political system. Not only did it spawn a philosophy of good government and a view of human rights that directly impacted the thinking of the Founding Fathers as they crafted the American system of government, but it also indirectly informed modern views of social justice that precipitated such developments as the Civil Rights movement, universal suffrage, and social security. The Enlightenment, while more of a European phenomenon than an American one, took place at just the right time, directly preceding the American Revolution and heavily influencing the thinking of the great men who would be instrumental in setting the initial course of America (http://www.wsu.edu/dee/AMERICA/ENLIGHT.HTM). The Enlightenment was the point in history when some of the most influential political philosophers of history wrote their seminal works. These include the writings of John Locke, Jean-Jacques Rousseau, Thomas Hobbes, and John Stuart Mill. Together, these great thinkers laid out the philosophical underpinnings of what would become the American government. Such concepts as separation of powers, the right to life, liberty and property, the importance of a strong central government, and the common good, all came into play as the Framers developed their formula of "good government" that is laid out within the U.S. Constitution. These "enlightened" thinkers, among others, brought about a fundamental shift in the way humans viewed their world and their natural place in it. The Enlightenment essentially set the philosophical parameters surrounding the way humans interact with one another and agree to govern one another. The Founding Fathers, most notably James Madison and Thomas Jefferson, injected a heavy dose of Enlightenment philosophy into the American governmental system, with its protection against the tyranny of the majority, its preservation of individual liberty and property rights, and its perpetuation of the sovereignty of the states in the face of a strong central government. As such, the Enlightenment provided the cornerstone of American government, and was perhaps the most critical world historical event shaping America. The Industrial Revolution Just as the Enlightenment was key to America's political development, the Industrial Revo

Spirituality and Holistic care Essay Example | Topics and Well Written Essays - 1500 words

Spirituality and Holistic care - Essay Example old among the Australian adults is low (Dick, 2003), it remains a fact that there is a higher probability that individuals who suffer from at least one type of chronic illness may end up becoming partially or totally dependent on other people when performing their own activities of daily living (ADL) such as walking, bathing, dressing, and feeding. The family structures In Australia has significantly changed over the past twenty years. As reported by the Australian Bureau of Statistics (2007), it has been very evident that the number of divorce rates had increased whereas the marriage rates had decreased. Considering the high number of divorce, separation, and never been married cases, the number of elderly including the physically and mentally disabled individuals who continuously seek for a long-term care and treatment from the professional nurses has significantly increased over time. Managing chronic illnesses can be very time-consuming and inconvenient on the part of the patients’ family members. (Sawyer et al., 2003) For this reason, spirituality has considered as a principle of practice when rendering holistic care to the patients (Dyson, Cobb, & Forman, 2007). As part of the study, the student nurse will first discuss about the essential nature of spirituality as a core component of holistic care. Aiming to prove that the student nurse has gained a better understanding with regards to the role of nurses in supporting individuals spiritually when taking care of patients who are chronically ill, disabled, and/or dying; several real-life clinical examples wherein nurses should care for the patient will be provided in the study. Caring for the sick individuals is not limited to the administering of medications, symptom management, and personal care. When providing holistic care to the patients, it is essential for nurses to know that their health care practice should be delivered not only to the patient but also the patient’s family members. This

Global Review Of Market Entry Strategies Economics Essay

Global Review Of Market Entry Strategies Economics Essay When a firm is going to explore a foreign market, the choice of the best mode of entry is decided by the firms expansion strategy. The main aim of every business organization is to establish itself in the global market. Thus, the process calls for developing an effective international marketing strategy in order to identify the international opportunities, explore resources and capabilities, and utilize core competencies in order to better implement the overall international strategies. The decision of how to enter a foreign market can have a significant impact on the results. Companies can expand into foreign markets via the following four mechanisms: exporting, licensing, joint venture and direct investment (Meyer, Estrin, Bhaumik, and Peng, 2008). All of them have their advantages for the firm to explore as well as disadvantages which must be considered by the firms top management. What entry mode that a multinational company chooses has implications for how much resources the company must commit to its foreign operations, the risk that the company must bear, and the degree of control that the company can exercise over the operations on the new market. (Zekiri and Angelova,2011, pp 576) 1.1.1 Global Review of Market Entry Strategies Taylor, Zou and Island (1998) conducted a study on a transaction cost perspective on foreign market entry strategies of USA and Japanese firms and concluded that several transactions costs affected the decision making of market entry mode for the US firms but did not affect the market entry mode for Japanese firms. Meyer, Estrin, Bhaumik, and Peng (2008) conducted a study on Institutions, Resources, and Entry Strategies in Emerging Economies to investigate the impact of market-supporting institutions on business strategies by analyzing the entry strategies of foreign investors entering emerging economies. The authors made three contributions, to enrich an institution-based view of business strategy (Oliver, 1997; Peng, 2003; Peng, Wang, and Jiang, 2008) by providing a more fine-grained conceptual analysis of the relationship between institutional frameworks and entry strategies. Secondly, they argued that institutions moderate resource-based considerations when crafting entry strategies and finally, by amassing a primary survey database from four diverse but relatively underexplored countries and combining such data with archival data, they extended the geographic reach of empirical research on emerging countries. Stiegert, Ardalan, and Marsh (1997) conducted a study on foreign market entry strategies in the European Union where the study utilized intra-firm, socio-cultural, geographical-proximity, and political-stability variables to explain bimodal foreign direct investment (FDI) patterns by agri-food and beverage multinational companies into and within the European Union. A logit framework incorporated a unique-count database of firm-level investment patterns from 1987-1998 and the results showed the 1992 structural changes under the Maastricht Treaty increased the probability of wholly owned FDI modes such as greenfields and buyouts, and also found that past modal strategies of firms, language barriers, and exchange-rate volatility all correctly explained modal investment patterns. The authors asserted that these results provide important contributions toward understanding modal investment strategies including the role of macroeconomic changes within a custom union. Czinkota Ronkainen (2003) carried out a study on the motivation factors for market entry and asserted that several factors results in firms taking measures in a given direction as in the case of internationalization. These are a variety of motivations both pushing and pulling companies to internationalize which are differentiated into proactive and reactive motivations. 1.1.2 Market entry strategies for Multinationals in Kenya Multinational corporations (MNCs) operate in a global environment unfamiliar in political, economic, social, cultural, technological and legal aspects. Increased competition among multinational corporations and the entry of other players in the Kenyan market necessitate the design of competitive strategies that guarantee performance. Creating strategies for coping with competition is the heart of strategic management which is critical for the long term survival of any organization. MNCs in Kenya have adopted a number of strategies including: better quality, excellent customer service, innovation, differentiation, diversification, cost cutting measures, strategic alliances, joint venture, mergers/acquisitions and not forgetting lower prices, to weather competitive challenges. Kinuthia (2010) suggests that Foreign Direct Investment (FDI) has risen in Kenya from the 1990s due to the liberalization of the economy. It is mainly concentrated in the manufacturing sector and is mainly Greenfield in nature. Most of FDI in Kenya is export oriented and market seeking. The most important FDI determinants are market size in Kenya as well as within the region, political and economic stability in both Kenya and its neighbours and bilateral trade agreements between Kenya and other countries. The most important FDI barriers in Kenya are political and economic instability in Kenya, crime and insecurity, institutional factors such as corruption, delayed licenses and work permits among other factors. According to the Financial Post (2010), well-established and hitherto dominant multinational companies in Kenya are suddenly finding themselves sailing in turbulent waters. The latest multinational to leave the scene with a bloodied nose is the 200-year-old Colgate Palmolive, a global business concern which begun in New York as a small soap and candle business. The list also includes, Johnson Johnson, Agip, Unilever, Procter Gamble, and recently, ExxonMobil, just to mention a few. The Financial Post (2010) suggests that majority of the multinationals who have so far relocated, shut down or downsized their operations consider Kenya as one of the least competitive investment destinations worldwide. Apart from the notoriously high cost of power in Kenya, difficulties in obtaining licenses and visas, inefficiencies at the Port of Mombasa and deteriorating infrastructure are among other non-tariff barriers to investment in this market. Financial Post (2010) notes that it is in the petro leum sector where the multinationals are finding it difficult to cope. A few years back, Agip shut down its pipes and sold out to BP Shell. BP sold it stake to Kenya Shell, a move that changed shareholding of BP Shell, which has been operating as a joint venture company. Recently, ExxonMobil sold its Kenya franchise to Tamoil, who will now take over the companys over 64 service stations countrywide. Ndegwa and Otieno (2008) conducted a study on market entry strategies for a transition country, Kenya, a case study that focused on mode of entry strategies that would be used by a Finnish firm, YIT Group to enter a developing country, Kenya. The focus was on motives to enter developing countries, the strategies used to enter developing countries, the factors influencing the decision of entry strategy, and finally problems facing companies entering developing markets experience. The study concluded that the most significant motive to enter developing countries is potential growth of the market, the most suitable entry mode strategy is joint venture, the most significant factor influencing the entry mode decision is the legal framework, and the largest problem experienced by companies investing in the country is bureaucracy. 1.1.3 Performance and non financial performance Performance Measures are quantitative or qualitative ways to characterize and define performance. They provide a tool for organizations to manage progress towards achieving predetermined goals, defining key indicators of organizational performance and Customer satisfaction. Performance Measurement is the process of assessing the progress made (actual) towards achieving the predetermined performance goals (baseline). Traditional, financially based performance measurement approaches have a number of serious drawbacks (Kaplan Norton, 1992). These include the element of outcome focus. Established financial indicators such as turnover and profit before tax are outcome indicators. Profitability measures the extent to which a business generates a profit from the factors of production: labour, management and capital. Profitability analysis focuses on the relationship between revenues and expenses and on the level of profits relative to the size of investment in the business (Gilbert and Whe elock, 2007). Four useful measures of firm profitability are the rate of return on firm assets (ROA), the rate of return on firm equity (ROE), operating profit margin and net firm income. The ROA measures the return to all firm assets and is often used as an overall index of profitability, and the higher the value, the more profitable the firm business. The ROE measures the rate of return on the owners equity employed in the firm business. It is useful to consider the ROE in relation to ROA to determine if the firm is making a profitable return on their borrowed money. The operating profit margin measures the returns to capital per dollar of gross firm revenue. Recall, the two ways a firm has of increasing profits is by increasing the profit per unit produced or by increasing the volume of production while maintaining the per unit profit. The operating profit margin focuses on the per unit produced component of earning profit and the asset turnover ratio (discussed below) focuses on the volume of production component of earning a profit (Crane, 2011). Net firm income comes directly off of the income statement and is calculated by matching firm revenues with the expenses incurred to create those revenues, plus the gain or loss on the sale of firm capital assets. Net firm income represents the return to the owner for unpaid operator and family labour, management and owners equity. Like working capital, net firm income is an absolute dollar amount and not a ratio, thus comparisons to other firms is difficult because of firm size differences (Gilbert and Wheelock, 2007). 1.1.4 Manufacturing Sector in Kenya Kenya has the biggest formal manufacturing sector in East Africa (UNIDO, 2008). This sector has grown over time both in terms of its contribution to the countrys GDP and employment. It is evident from these trends that the sector makes an important contribution to Kenyas economy (KAM, 2009). The average size of this sector for tropical Africa is 8 percent. Despite the importance and size of this sector in Kenya, it is still very small when compared to that of the industrialized nations (KIRDI, 2009). Awino (2007) and KObonyo (1999) argues that Kenyas manufacturing sector is going through a major transition period largely due to the structural reform process, which the Kenya government has been implementing since the mid-eighties with a view to improving the economic and social environment of the country. The manufacturing industry in Kenya can be classified under three main sectors, namely, the agro-based industrial sector, engineering and construction industrial sector and the chemical and mineral industrial sector (GOK Vision 2030). However, the three major classifications can still be categorized into two: (i) agro-based and non-agro-based (KObonyo, 1999). The agro-based industrial sector in Kenya consists of seven sub-sectors and provides the bulk (68 per cent) of value added from the manufacturing industry, (KAM, 2009). KObonyo (1999) argues that the agro-based industrial sector has developed on the basis of traditional domestic resource activities. The major challenges faced by this sector are related to the quantity, quality and price of raw materials mostly produced by small scale farmers. The seven sub-sectors that form the agro-based industrial sector are food processing, animal feeds, beverages and tobacco, miscellaneous food products, tannaries and leather products, woods and wood products and pulp and paper (Awino, 2007). 1.2 Problem Statement Mode of entry into an international market is the channel which organization that want to operate in international markets employ to gain entry to a new international market. The choice for a particular entry mode is a critical determinant in the successful running of a foreign operation. Therefore, decisions of how to enter a foreign market can have a significant impact on the results. However, it may seem that the use of particular strategies by international firms may yield higher growth and performance than others. There are several strategies that manufacturing firms can select from when they want to gain entry to a new international market such as exporting; licensing and franchising; strategic alliances; and wholly owned foreign subsidiaries. This study wants to investigate and indicate the particular modes of entry that manufacturing MNCs in Kenya use and of what value they are. Studies on the relationship between the choice of international market entry strategy and firm performance are abundant. These include Taylor and Zou (1999); Zekir and Angelova(2011) ; Chung and Enderwick (2001); Zand (2011); Sadaghiani, dehghan, and Zand (2011); and Mushuku(2006). There lacks conclusiveness on these studies about the choice of market entry strategy and firm performance. There exist glaring knowledge gaps as far as scarcity of local studies, context, conclusiveness and difference in opinions is concerned. This implies that there are scarce studies in developing economies such as Kenya. Studies on the choice of international market entry strategy and firm performance seem to concentrate on the developed and emerging countries which leave a knowledge gap for developing economies such as Kenya. There is a paucity/scarcity of studies on the marketing strategies techniques used by firms in Kenya and the researcher is not aware of any study that has been done on the influe nce of international market entry strategies on the performance of manufacturing multinationals in Kenya. This study therefore wishes to bridge this knowledge gap by assessing the influence of market entry strategies in manufacturing firms performance in Kenya. 1.3 Study Objectives The study attempts to achieve the following study objectives To identify the international market entry strategies by manufacturing multinationals in Kenya To establish the motive behind the choice of market entry strategies by manufacturing multinationals in Kenya To examine the influence of market entry strategies on the performance of manufacturing multinationals in Kenya 1.4 Significance of the study The study may be of use to management of manufacturing concerns in Kenya. This is because it will highlight the impact of choice of entry strategy to growth of a firm. Managers may therefore use these results to select the optimal strategies that would optimize growth of multinationals. The study will aid managers of prospective firms, and also those other people that want to go into other markets. The study will also provide ample information to those firms already in the market with strategies that are not working for them. The study results may be used by the implementation panel for vision 2030. Perhaps, they can craft a policy based on the study results that would increase the impact of entry strategies on growth of multinationals operating in Kenya. This would consequently lead to higher productivity and achievement of vision 2030 goal of annual economic growth of 10%. The study may also be a valuable addition to literature review and scholars of international business management, business strategy and growth. 1.4 Scope of the study There are several strategies that manufacturing firms can select from when they want to gain entry to a new international market such as exporting; licensing and franchising; strategic alliances; and wholly owned foreign subsidiaries. The study will restrict itself to market entry strategies and their influence on performance of multination manufacturing organizations. The scope of this study is the manufacturing sector. The manufacturing industry in Kenya can be classified under three main sectors, namely, the agro-based industrial sector, engineering and construction industrial sector and the chemical and mineral industrial sector (GOK Vision 2030). However, the three major classifications can still be categorized into two: (i) agro-based and non-agro-based (KObonyo, 1999). Kenyas main industries are food and beverages processing, manufacture of petroleum products, textiles and fibers, garments, tobacco, processed fruits, cement, paper, pyrethrum products, engineering, wood products, pharmaceuticals, basic chemicals, sugar, rubber, and plastics products. CHAPTER TWO: LITERATURE REVIEW 2.0 Introduction This chapter reviewed the various theoretical concepts that have been explored in the study. Specifically, the study reviewed the concept of multinationals, market entry strategies and organizational performance. The empirical review addressed the various studies that have been done on the area. 2.1 Theoretical Review This section elaborates on various concepts that are being used in the study. For instance definitions of multinationals, market entry strategies and performance were given. 2.1.1 Multinationals A multinational corporation (MNC) or multinational enterprise (MNE) is a corporation enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation. They play an important role in globalization (Pitelis, and Sugden, 2000). Various attempts have been made in literature to capture the true richness of MNCs with definitions and concepts. Perlmutter (1969) for instance, used a taxonomy which was based on management styles namely geo-, poly- and ethnocentric to measure a firms degree of multinationality. Porter (1986) distinguished between multidomestic and global firms based on the configuration and coordination of the firms value chain. The framework developed by Prahalad and Doz (1987) offers a rather context oriented classification based on the nature of business, differentiating between global, multi-focal and local firms. Probably Bartletts and Ghoshals (1989) four-fold typology of multinational, international, global and transnational companies has been the most influential and extensive one. The typology constructed, inter alia, included, environmental, corporate, subsidiary, control and human resource characteristics. Kinuthia (2010) suggests that Foreign firms in Kenya since the 1970s have invested in a wide range of sectors. Most notably they played a major role in floriculture and horticulture, with close to 90 percent of flowers being controlled by foreign affiliates. In the Manufacturing sector FDI has concentrated on the consumer goods sector, such as food and beverage industries. This has changed in the recent years with the growth of the garment sector because of African Growth and Opportunities Act (AGOA). Of the 34 companies involved in AGOA 28 are foreign most of them concentrated in the Export Processing Zones (EPZs). FDI is also distributed to other sectors including services, telecommunication among others. 55 percent of the foreign firms are concentrated in Nairobi while Mombasa accounts for about 23 percent, thus Nairobi and Mombasa account for over 78 percent of FDI in Kenya. The main form of FDI establishment has been through the form of green fields establishments and Kenya has in total more than 200 multinational corporations. The main traditional sources of foreign investments are Britain, US and Germany, South Africa, Netherlands, Switzerland and of late China and India (UNCTAD, 2005). 2.1.2 Market Entry Strategies International market entry modes can be classified according to level of control, resource commitment, and risk involvement (Hill, Hwang and Kim, 1990). For example, in a study of the international operations of service firms in the United States, Erramilli and Rao (1993) classify market entry modes into two categories based on their level of control-full-control (i.e. wholly owned operation) and shared-control mode (i.e. contractual transfer or joint venture). The classification system adopted by Kim and Hwang (1992) is three fold: licensing, joint ventures and wholly owned subsidiaries. Kim and Hwang believe that these methods provide three distinctive levels of control and require different levels of resource commitment. Kwon and Konopa (1993) indicate that each foreign market entry mode is associated with advantages and disadvantages in terms of risk, cost, control, and return. Their study was designed to examine the impacts of a series of determinants on the choice of foreign production and exporting adopted by 228 U.S. manufacturing firms. Agarwal and Ramaswami (1992) suggest that the most commonly used entry modes are exporting, licensing, joint venture and sole venture. These methods involve varying levels of resource commitment. When multinational enterprises (MNE) plan to expand overseas, they face several entry modes. Root (1994) defines an international market entry mode as an institutional arrangement that makes possible the entry of a companys products, technology, human skills, management, or other resources into a foreign country. Entry modes can be classified into three categories: Export entry mode, contractual entry mode and investment entry mode (Root, 1994). Expansion into foreign markets can be achieved via the following mechanisms: Exporting, Licensing,â‚ ¬Ã‚   Franchising,â‚ ¬Ã‚   Joint Venture, Direct Investment (Kim and Hwang,1992; Agarwal and Ramaswami,1992; Root, 1994; Erramilli and Rao,1993). These are explained below; 2.1.1. Exporting Exporting is the marketing and direct sale of domestically-produced goods in another country. Exporting is a traditional and well-established method of reaching foreign markets. There is no need for the company to invest in a foreign country because exporting does not require that the goods be produced in the target country. Most of the costs associated with exporting take the form of marketing expenses. Therefore, exporting is appropriate when there is a low trade barrier, home location has an advantage on costs and when customization is not crucial (Kim and Hwang, 1992). 2.1.2. Licensing A license arrangement is a business arrangement where a licensor using its monopoly position and right such as a Patent, a Trade Mark, a design or a copyright that has exclusive right which prevents others from exploiting the idea, design, name or logo commercially. The licensee pays a fee in exchange for the rights to use the intangible property and possibly for technical assistance (Erramilli and Rao, 1993). 2.1.3. Franchising Franchising is a similar entry mode to licensing. By the payment of a royalty fee, the franchisee will obtain the major business know-how via an agreement with the franchiser. The know-how also includes such intangible properties as patents, trademarks and so on. The difference from the licensing mode of entry is that the franchisee must obey certain rules given by franchiser. Franchising is most commonly used in service industries, such as McDonalds, etc. (Hill, Hwang and Kim, 1990). 2.1.4. Joint Venture Joint ventures represent an agreement between two parties to work together on a certain project, Operate in a particular market, etc. Some of the main common objectives in a joint venture:â‚ ¬Ã‚  Market entry;â‚ ¬Ã‚  Risk and reward sharing;â‚ ¬Ã‚  Technology sharing and joint product development, etc. (Kwon and Konopa, 1993) 2.1.5. Foreign Direct Investment Foreign direct investment (FDI) is the direct ownership of facilities in the target country. It involves capital, technology, and personnel. FDI can be made through the acquisition of an existing entity or the establishment of a new enterprise. Direct ownership provides a high degree of control in the operations and the ability to better know the consumers and competitive environment, and the market in general. However, it requires a high level of resources and a high degree of commitment (Root, 1994). 2.1.6. Foreign Acquisition Acquisitions can be defined as a corporate action in which a company buys most, if not all, of the target companys ownership stakes in order to assume control of the target firm. Acquisitions are often made as part of a companys growth strategy whereby it is more beneficial to take over an existing firms operations and niche compared to expanding on its own. (Investopedia.com, 2011) 2.1.7. Green Field Entry Green field can be defined as a form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. In addition to building new facilities, most parent companies also create new long-term jobs in the foreign country by hiring new employees (Investopedia.com, 2011). The main advantages of setting up a new company:â‚ ¬Ã‚  normally feasible, avoids risk of overpayment, â‚ ¬Ã‚  avoids problem of integration, Still retains full control. The main disadvantages of setting up a new company:â‚ ¬Ã‚  Slower startup, requires knowledge of foreign management, â‚ ¬Ã‚  high risk and high commitment We can conclude that acquisition is appropriate when the market is developed for corporate control, the acquirer has high absorptive capacity, and when there is high synergy, whereas Green field entry is appropriate when there is lack of proper acquisition target, in-house local expertise, and embedded competitive advantage (Agarwal and Ramaswami, 1992). 2.1.3 Organization Performance Organizational performance comprises the actual output or results of an organization as measured against its intended outputs (or goals and objectives). According to Richard et al. (2009) organizational performance encompasses three specific areas of firm outcomes: (a) financial performance (profits, return on assets, return on investment, etc.); (b) product market performance (sales, market share, etc.); and (c) shareholder return (total shareholder return, economic value added, etc.). Most organizations view their performance in terms of effectiveness in achieving their mission, purpose or goals. Most NGOs, for example, would tend to link the larger notion of organizational performance to the results of their particular programs to improve the lives of a target group (e.g. the poor). At the same time, a majority of organizations also see their performance in terms of their efficiency in deploying resources. This relates to the optimal use of resources to obtain the results desired. Finally, in order for an organization to remain viable over time, it must be both financially viable and relevant to its stakeholders and their changing needs. A fundamental debate in strategic management and international marketing research is questioning about the performance, especially when the companies involve in international performance (Florin and Agboei, 2004). An accurate understanding of the crucial link between international strategy and performance is especially important in the face of world markets that are increasingly global. Consequently, international marketing research has moved from being descriptive studying the differences between exporters and non-exporters to providing performance explanations (shoham and kropp, 1998). In todays complex business world, performance is an indispensable guide for any company analyzing its level of success, in both the domestic and international arenas. Assessing export performance is quite a complex task, as export performance can be conceptualized and operationalized in many ways. Broadly speaking, the literature considers three aspects of export performance: financial, strategic, and that of performance satisfaction (Lages and Montgomery, 2004). Although considerable progress has since been made, research remains underdeveloped. Defining and understanding performance is problematic, especially in terms of identifying uniform, reliable, and valid performance measures (Katsikeas, Leonidou and Morgan, 2000). Export performance is the dependent variable in the simplified model and is defined as the outcome of a firms activities in export markets. There are two principal ways of measuring export performance: economic (financial measures such as sales, profits, and market share) and noneconomic (nonfinancial measures relating to product, market, experience elements, etc.). Most background and intervening variables were associated with economic measures of performance, particularly export sales intensity (export-to-total sales ratio), export sales growth, and export profitability (Katsikeas, Leonidou and Morgan, 2000). Also, Export performance, a widely studied construct, refers to the outcomes of a firms export activities, althoug h conceptual and operational definitions vary in the literature (Calantone, 2005) 2.2 Empirical Literature 2.2.1 International Market Entry Strategies by Multinationals International market entry modes can be classified according to level of control, resource commitment, and risk involvement (Anderson and Gatignon, 1986; Erramilli and Rao, 1993; Hill, Hwang and Kim, 1990). For example, in a study of the international operations of service firms in the United States, Erramilli and Rao (1993) classify market entry modes into two categories based on their level of control-full-control (i.e. wholly owned operation) and shared-control mode (i.e. contractual transfer or joint venture). The classification system adopted by Hill, Kim and Hwang (1992) is three fold: licensing, joint ventures and wholly owned subsidiaries. Hill, Kim and Hwang (1992) believe that these methods provide three distinctive levels of control and require different levels of resource commitment. Kwon and Konopa (1993) indicate that each foreign market entry mode is associated with advantages and disadvantages in terms of risk, cost, control, and return. Their study was designed to examine the impacts of a series of determinants on the choice of foreign production and exporting adopted by 228 U.S. manufacturing firms. Agarwal and Ramaswami (1992) suggest that the most commonly used entry modes are exporting, licensing, joint venture and sole venture. These methods involve varying levels of resource commitment. Based on the location of products produced, Terpstra and Sarathy (2000) divide market entry methods into three major categories-indirect exporting, direct exporting and foreign manufacturing. Many forms of market entry strategy are available to firms to enter international markets. One classification first distinguishes between equity and non-equity modes. Equity modes involve firms taking some degree of ownership of the market organizations involved, including wholly owned subsidiaries and joint ventures. Non equity modes do not involve ownership and include exporting or some form contractual agreements such as licensing or franchising (Wilkinson and Nguyen, 2003). Caves (1982) identified four basic ways to expand internationally, from the lowest to the highest risk: exporting; licensing and franchising; strategic alliances; and wholly owned foreign subsidiaries. Cateora and Graham (2002) stated there are six basic strategies for entering a new market: export/import, licensing and franchising, joint venturing, consortia, partially-owned subsidiaries, and wholly-owned subsidiaries.

Breathing Underwater

Breathing Underwater is an interesting story of a young boy’s self discovery. Nick’s journey towards self discovery is somewhat forced upon him when he assaults his girl friend Caitlin. The judge sentences Nick to six months of counseling that involve dealing with anger issues. In addition, due to the fact that nick claims that he doesn’t know how he got into this mess, the judge assigns Nick to write in a journal daily 500 words about what happened in his and Caitlin’s relationship (Finn, 2001). The question of this book is if Nick will lean anything about himself and what he does about it.In addition, it is important to understand that this book is about not judging people’s lives just by looking at them. This book, at first glace has a very odd title; however very early on we get a glimpse at what breathing underwater might mean. The day of the first class, Mario asks all the students if they ever feel like they are breathing underwater and life is coming at you too fast (Finn, 2001, 20). It seems like breathing underwater means that we all are actors in our lives; we try to show people that we are brave when we are actually afraid.Moreover, we are forever trying to show others that we in control of ourselves when in fact we feel completely out of control. Nick hits Caitlin because he feels that he and his life are out of control. However, when he goes to class, he feels as if he doesn’t need anger counseling. In addition, nobody in the class thinks they need to be there. Moreover, when one of the classmates ends up killing is girlfriend and himself, Nick sees that he needs counseling and how anger can and does destroy lives. The end of the book deals with Nick trying to take back his life.He tries to apologize to Caitlin for hitting her and he tells her that he loved her, he and Tom rekindle their friendship, and Nick stands up to his dad. Nick says that he is tired of breathing underwater and by the end of the book he has stopped himself from drowning in his anger. I think this book shows us that there are times when we feel as if we are breathing underwater. It also shows us that there are better ways to manage our anger such as writing about it in a journal. Works Cited Flinn, A. (2001). Breathing Underwater. New York: Harper Collins

The New Fuss About Desciptive Essay Samples

The New Fuss About Desciptive Essay Samples Desciptive Essay Samples A descriptive essay conclusions should supply the reader with a mental picture of a particular matter. Since the content of narratives essay can vary when it has to do with unique institutions, we've resolved to supply you with examples in the event you face an issue. Although descriptive essay obviously requires detailed description, it's not essential to thoroughly go over every part of your subject. For you to develop a great descriptive essay, you should learn how to encrypt a great thesis statement. After you have the columns laid out you may start to fill them with details that help support your thesis. Templates like Descriptive Essay about Office can be beneficial for an individual who's planning to go to an office. A very helpful collection of descriptive essay suggestions and topics are available here. The structure of such essay is contingent on the topic. Before writing, you've got to understand the subject of your essay! Picking an excellent topic for your essay is vital. What You Don't Know About Desciptive Essay Samples When you surf our site for recommendations that might help you write your own essay, you will come across many helpful tips. Even very smart students may face an issue facing a need to make an effective written work. Descriptive Essay on Market can be employed by tourists or visitors that don't have any prior understanding of a marketplace. Descriptive essays about a place are common because when referring to a particular place it is normal t o attempt to make an experience for your reader. The Hidden Gem of Desciptive Essay Samples Essay writing comes in various forms. Though, there are specific patterns that you are supposed to follow when you compose a descriptive essay. Furthermore, you may also take a look at our Argumentative Essay templates. A narrative essay is regarded to be among the most well-known varieties of tasks that students get all too often. Students are requested to explain, comment on, or assess a subject of study in the shape of an essay. The Number One Question You Must Ask for Desciptive Essay Samples Expository essay utilizes formal language to go over someone or something. When you learn to apply the five-common sense well, then you're sure to fulfill your reader. The reader may be confused if you do not attach ideal emotions to the description you're giving. Normally, most readers receive the best representation of something through using their senses! Don't panic if you are not able to receive your descriptive essay right. A descriptive essay will require a creative mind for the reason that it tests one's capacity to express what they are able to see in writing. It can seem boring at first glance, but they're the essays that you can really be creative with. A decent descriptive essay comes out of a knowledgeable and imaginative mind. To define a descriptive essay, it's intended to help the reader feel as they are experiencing what they're reading. Beginning a descriptive narrative essay is much as with any other essay in that you will need to capture the reader's interest. The reader should have the idea of the entire essay from the introduction. Desciptive Essay Samples Can Be Fun for Everyone Also, be sure you're a responsible writer by assuring that all the things which you are write won't hurt anyone or any individual related to what you're describing. Everything is quite a bit simpler. The tricky thing about the narrative essay is there are always some limits to the sum of content it is possible to give your readers with. Sometimes reading something out loud can help recognize any problems that ought to be worked out. To develop a great essay, you must learn the way to make an image of what you're referring to in the reader's mind. In truth, it is a narration with more vivid particulars. Quite a few alternative logical structures for essays are visualized as diagrams, making them simple to implement or adapt in the building of an argument. For descriptive essays, there are a few helpful structures in the event you are still having trouble. Each detail of a particular subject plays an important role in developing a visual representation for such. Sometimes there's no movement whatsoever.