Creating an Organizational Culture Article Example | Topics and Well Written Essays - 1750 words - 1

Creating an Organizational Culture - Article Example Different experts have tried to explain its influence on an organization according to their experiences, theories, and their point of views. In this regard, we will try to define, discuss, and analyze different perspectives of an organizational culture, and will try to understand different steps that are carried out for its creation, amendment, and maintenance, in order to influence collective effort in an organization or institution. Different experts have given a lot of importance to the culture and cultural perspectives in an organization. According to an author, specific environment and conditions are coming up with the help of development of an organizational culture in an organization. Today, many complex issues and problems are confronted by organizational leaders, when the organizational achievement is attempted by them in a number of different environments, such as VUCA environments. In this regard, it has been suggested that it is very necessary and important to define and understand the term of organizational culture properly, which plays a vital role in the success of an organization, as well as, its leaders. Therefore, it has been notified that organizational culture is, and has become an important part and factor of an organization’s success. In this regard, different multinational companies, as well as, small industries are trying to implement the organizational culture in their sectors, in o rder to provide opportunities to their employees for a successful future and prosperity. In addition, the inability of understanding organizational culture was traced out to be the reason of problems and complex issues that are being confronted by the leaders and managers in different companies. Failure has been also been observed in different and various business and marketing strategies that oppose the organizational culture and seems to be inconsistent with it. Therefore, creation of new strategies and their implementation also requires

Fashion Culture Essay Example | Topics and Well Written Essays - 2750 words

Fashion Culture - Essay Example The essay "Fashion Culture" states the culture of fashion. The society, in the modern times, is deeply influenced by fashion as they see in the popular media; represented by their favorite celebrities and icons. Fashion is often criticized for affecting the society in a negative manner through its portrayals of beauty. These portrayals of beauty compel the ordinary people to go to extreme measures in order to be labeled as beautiful and chic. As fashion influences society, it is also influenced by the society in which it resides. The fashion of Paris would be altogether different from the fashion of an Arab country. Thus fashion in a way is constricted by the dictates of the society. Individualist expressions also find a way into contemporary fashion and fashion becomes a mode of expression. The history of fashion in America is a testimony to this fact. However, it is difficult to understand the extent of the impact of fashion on the culture as culture is also impacted by fashion and this two-sided affect makes the situation difficult to evaluate. In this paper, we attempt to understand the role that fashion plays on culture and vice versa for the role that culture plays on fashion. Each is impacted by the other and this paper will attempt to generate a conclusion on the extent of the influence of both fashion and culture on each other. Fashion in America was predominately inspired by the British. It was the British who came into America in large numbers and brought their fashion with them. In the earliest days, American fashion was exactly like the British fashion with its gowns with mutton shaped sleeves and corsets that stressed on the hour glass figures of the women. Fashion, at that time, was inspired by the society’s ideal of beauty. During the 1920s, the ideal beauty was petite and feminine. For this reason, corsets were a necessary part of every woman’s wardrobe; also shoes where pointed and small, so as to give the impression of a delicat e being who could be compared to a bird. Fashion at that time was thus not about comfort but about looking beautiful and presentable (Boyer and Dubofsky, 137). The next change in fashion began with the industrial revolution. Industrial revolution was an era of mass production that led to an increase in consumerism and materialism. As products were produced in mass quantities, they cost cheaper and fashion was available to the common public. This was aided with the boom in cotton industry of America that allowed Americans local access to the crop. Thus these mass products were sold in retail shops throughout the country along with catalogues for consumers outside the reach of the retail shops. Fashion at this time was still dictated by the Europeans. Also the concepts regarding women was changing as women were getting liberated and moving out of the constraints of their corsets and moving towards adopted the brassiere (Frings, 30). Another change in fashion came with the civil war. A s social unrest in the country increased, individuals became more expressive with their sense of fashion. The blacks began to express their African origins while the Middle Class adopted the hippie fashion. T-shirts were adopted by the hippies as a means of protest and propaganda (English, 91)However, during the 1960s and

Uganda Pipeline Project Management

Uganda Pipeline Project Management International oil and gas management INTRODUCTION Energy is a key component of all economic activities in any country. It not only improves the quality of life but is fundamental for sustainable social and economic development in both the developed and developing countries. A secure adequate, affordable and reliable supply of energy is thus a necessary precondition for sustainable development[1]. Energy security is therefore a major concern of most governments and thus remains a top agenda. To ensure energy security, its mandatory to have a well balanced supply and demand[2]. Fossil fuel (Crude Oil) still remains the main energy source in most countries both in the developed and developing economies. High oil prices and supply disruptions therefore have significant negative impacts on all social and economic activities especially to countries that are net oil importers. Such countries are faced with the challenge of always having enough stock of oil or oil products to avoid any ultimate shocks due to supply disruptions or price ch anges. Like many developing countries, the main sources of energy in Kenya and Uganda are biomass and commercial energy sources. Biomass is used mainly in the rural areas and accounts for up to 80% of the overall energy mix in the region. Commercial energy sources on the other hand are used mainly in the urban areas. The figure below shows the energy sources consumption patterns in the region. Kenya and Uganda are heavily dependent on oil especially in the transport sector and partially for electricity generation and commercial purposes. The lack of a commercially viable substitute fuel remains the main reason behind the over dependence on oil in the transport sector. These two countries are net oil importers faced with the challenge of ensuring there is enough supply of oil products to meet the demand of the various sectors of the economy. This over reliance on imported oil has constantly exposed these two countries to externalities of market power by the powerful suppliers[4]. Kenya and Uganda import crude oil and finished products from the Gulf region through the Indian Ocean to Mombasa Port. There is a fully functional Oil refinery at Kenyas Mombasa Port where the imported crude is received, refined and later on pumped to the major towns through a petroleum pipeline in the country[5]. Uganda being a land locked country relies to a greater extent on Kenya (some of the i mports come through Dar es Salaam in Tanzania) for its oil import which is first refined at the Kenya Petroleum Refineries before being pumped through the Kenya Oil pipeline to the Eldoret fuel depot[6]. The products are then transported by road or rail from the depot to Uganda. This process has proved quite inefficient causing supply disruptions that finally impact all the socio economic sectors in Uganda negatively. This inefficiency made the two governments draw a game plan to ensure efficient transportation of petroleum products to Uganda. These developments facilitated the signing of a Memorandum of Understanding between the Government of Kenya and Uganda that led to the establishment of a Joint Coordinating Commission (JCC) in 1995[7]. The JCC was charged with the responsibility of coordinating a feasibility study for constructing an oil pipeline from the Eldoret Depot in Kenya, an extension of the already existing Kenya pipeline, to a terminal to be constructed in Kampala, U ganda. In 1998 a feasibility study funded by the European Investment Bank (EIB) was conducted by JCCs consultants, Penspen Limited of UK. The report by the consultants presented in May 1999 concluded that the project was feasible and viable[8]. JCC was later on given the mandate in 2000 to implement the project. However due to time lapse between the feasibility study and the decision to go ahead with the project implementation, taking the dynamic nature of the oil and gas industry in these two countries, a second feasibility study was conducted funded by the two governments[9]. The report from the consultant, like in the first study, concluded that the project was still viable and could be taken to the next phase. JCC therefore made a decision to proceed with the project implementation on Public Private Partnership with the two governments having a share of 24.5% each and 51% for the private investor[10] An invitation to Tender was floated inviting interested bidders internationally to bid for the execution of the project on BOOT basis for a period of 20 years. Tamoil East Africa Ltd (TEAL) won the bid in 2006 to finance and construct an 8 inch pipeline at a cost of US$78.2 million[11]. An agreement, The Heads of Agreement, between the two governments and TEAL was then signed in January 2007 to enable the investor to start the development phase of the project[12]. A number of developmental phase activities had to be completed before commencing the construction activities. These included the preparation of all the legal agreements affecting the Project, the pipeline Route Survey to determine the right of way, the Environmental Impact Assessment Study in compliance with the environmental laws in the two counties, updates of the Market Study and revised product demand forecast leading to optimum sizing of the pipeline and finally carrying out the Front End Engineering Design (FEED)[13]. The successful completion of the above phase was the main determinant of the project costs upon which the developer was expected to make a final investment decision to proceed with the construction phase of the project[14]. TEAL had finished all the tasks at the development phase by 2008 when large Oil discoveries were made in Uganda in commercial quantities[15]. This therefore meant the initial 8 inch pipeline design, having considered only one way flow from Kenya to Uganda, could only serve Uganda in the initial years before production begins and would be rendered inactive thereafter as the there will be need to transport oil from Uganda to the Neighboring countries and to the other international. With these new developments, JCC therefore considered a redesign of the pipeline to accommodate reverse pumping from either direction. This would satisfy Ugandas petroleum needs in the short run, importing fuel through Kenya, and finally in exporting its refined oil products to the other markets through the Kenyan Port of Mombasa. A new financial analysis of the project based on the redesigned pipeline diameter was therefore necessary to capture the new CAPEX and projected throughput as this would have an impact on the project cash flow when product will be pumped from Uganda side. TEAL through its consultant, Matt MacDonald UK, finished the new design earlier this year and came up with the new project cost as shown in Table 1 in Annex 1( the table also shows the cost breakdown of the initial design)[16]. TEAL also carried out additional economic analysis to come up with a new tariff based on the new developments. TEAL was therefore faced with the challenge of carrying out a more detailed financial and project analysis to justify the viability of the project to its shareholders and to present the same to JCC for review and approval. It is at this stage that I joined the company as an intern to assist the project team on various tasks but more specifically on the financial analysis of the project based on the new project developments and to analyze the effect of scope creep on the projects viability. This report aims at elaborating more on the tasks undertaken during the internship period. However the main task undertaken was working with the financial consultant of the company in carrying out the financial analysis of the project and finally discussing with the project team the impact of the changes in scope (scope creep) on project cost. A report of the analysis was presented to the project team with a summary of the model assumptions and results. The final investment decision was to be taken based on the findings and the results presented in the report[17]. This report gives a brief description of the project from inception to the status during the internship period in its first and second chapters. The third chapter focuses on the financial analysis carried in fulfillment of the allocated task. A brief of other tasks undertaken during the internship is given in the fourth chapter. The final chapter focuses on the conclusions and recommendations of the whole exercise highlighting the benefits of the internship both to the intern and the company. The conclusions details the key challenges of scope creep in effective project management. The report will be based on the information collected from the Project Information Memorandum (document available in TEALs project office), earlier study reports in the project office, skills gained from different modules taken up during my training at CEPMLP and various text books. CHAPTER 1 1. Overview of the Project The need for adequate and reliable supply of oil products to Uganda at affordable cost was the key driver of the Kenya Uganda Pipeline project. However this was also in line with the policies of the Kenyan government ensuring the country also benefits from the project. The key issues of the project are briefly mentioned in the following subsections. These include the main project drivers, the justification for the choice of having a public / private partnership, the economic policies in the two countries and the benefits of the project to the two countries. 1.1 Project Drivers A reliability, efficiency and cost effective means of transportation of oil products to Uganda was the main project driver as already mentioned. In addition to that, there was a need to have a safe and an environmentally acceptable means of transportation of the products in line with the environmental laws in both countries[18]. Various transportation options discussed in the following chapters were considered and the pipeline emerged as the most cost effective option that satisfies the requirements above for both the current and future oil demand. 1.2 Economic Policies of Kenya and Uganda in relation to the Project Both the GoK and GoU look forward to the successful completion of the pipeline project albeit their different economic policy drivers. Ugandas main policy behind the project is to ensure adequate, reliable and affordable supply of energy to the various sectors within its economy. On the other hand Kenyas main driver is the need to create more wealth and employment to its people. The economic policies of the two countries are highlighted below; Uganda Economic Policies The overall policy of the Ministry of Energy and Mineral Development Uganda is to â€Å"To ensure an adequate, reliable and affordable supply of quality petroleum products for all sectors of the economy at internationally competitive and fair prices within appropriate health, safety and environmental standards†[19]. The responsibilities of the MEMD Uganda include; Establishing the available energy resources within the country; Carrying out energy demand forecasting for the various sectors of the economy; To contribute to poverty eradication by increasing access to modern, affordable and reliable energy services to its people; Improving energy governance and administration; Stimulating economic development; Managing energy-related environmental impacts. Kenya Economic Policies Kenya has already established its petroleum pipeline network within the country managed by the Kenya Pipeline Corporation. Kenya economic policy supporting the project as mentioned above unlike in Uganda was based on the countrys Economic Recovery Strategy for Wealth and Employment Creation (ERSWEC) launched in 2003[20]. According to the laid down strategy, the state is expected to facilitate private sector growth and investment. The pipeline project will create a number of jobs from the construction phase through to operation. The KPC has also laid an additional pipeline to ensure there is sufficient product for export to Uganda and the neighboring countries[21]. This expansion leads to an increment in the Countries revenue hence satisfying the policy of wealth creation. On the other hand, one of the key objectives of the Kenya Ministry of Energy is to ensure petroleum products transported within the country and for export purposes is done in the most efficient way with minimal loss es while maintaining the countrys environmental and safety standard, a criteria satisfied by the project[22]. 1.3 Public/Private Partnership Public Private Partnership (PPP) is where a public service is provided through a partnership of the public sector with one or more private companies. The private sector in most cases assumes financial, technical and operational obligations. However accountability remains with the public sector for the provision of that public service. PPP therefore enables most governments to improve on the delivery of public services and proper management of public facilities by sharing the financial obligations with other private investors. The private investor on the other hand gains from the partnership by earning a return on capital employed. The procurement of public services is greatly improved on PPP ventures. However, long term political commitment is mandatory for the success of PPP. Most infrastructure projects are capital intensive but the involvement of the private sector has enabled most countries world over to implement such projects. Figure 1.1 below shows the number and value of priv ate participation in infrastructure projects by region between 1996 and 2006. From the figure it can be seen that other regions of the world have put up many infrastructure projects with private participation well ahead of Africa. Some of the projects implemented under public private partnership in the region include the Songa Processing plant in Tanzania, Maputo port in Zimbabwe and Skida Desalination Plant in Algeria[24]. Energy sector projects are usually capital intensive and the returns take a relatively longer time to be realised. Most developing countries face financial challenges and can only rely on donors or investors for the funding and implementation of projects of this nature. This is the main reason behind the choice of Public/ Private Partnership for the Kenya Uganda Petroleum Products Pipeline Project implementation. The JCC came up with a mechanism to partner with a private investor for the implementation of the pipeline project. The investors responsibility is to finance and operate the project on BOOT basis. The private investor on completion of the project will be expected to manage and operate the pipeline for a period of 20 years before finally transferring ownership and operations of the facility to the two governments. The two governments agreed to have a 49% equity shared equally between them leaving the investor with a 51% share[25]. This was aimed at facilitating the private investors growth for faster economic development in line with the economic policies in the two countries. TEAL therefore partnered with the two governments having come up with the most competitive bid for the financing, construction and operation of the proposed pipeline project. The financial plan of the project is discussed in chapter three of this report. The cost of using the facility will be borne by the users and not the tax payers. 1.4 Benefits of the Project Alternative options of transporting petroleum products to Uganda have been considered in the next chapter. These range from transportation by road tankers, rail wagons, marine ships or ferries and finally pipeline transport. A number of benefits of the pipeline project that were the key drivers have been outlined below[26]; Secure and environmentally acceptable means of transportation of Petroleum products to the Uganda market; Provision of secure and easy access to supply of petroleum products to the other neighboring countries to Uganda; Reduction of road maintenance costs and reduction in the number of road accidents i.e. decongesting the roads; With a reliable supply of petroleum products, the oil marketers in Uganda will be able to maintain low stocks and reduce their costs resulting in low cost passed on to the consumers; The overall reduction in transportation cost will also lead to a reduction in the final market prices of the oil products; The pipeline will lead to a reduction in illegal product movement across the Kenya-Uganda border and ultimately prevent product adulteration which is common when products are transported by road tankers and finally, The pipeline will lead to a reduction on HIV prevalence among truck driver a situation that has become a national pandemic in the two countries. CHAPTER 2 2. Market analysis A number of market studies have been done in line with the Kenya Uganda Petroleum Products Pipeline Project. The most recent study was done in 2007 by TEAL through their consultant, Nexant Limited. The main objective of the study was to carryout petroleum products demand analysis and forecasting. The study was a development of the earlier studies carried out in 1999 and 2001. With an optimistic commencement of works by end of this year (2008) , the consultant focused on the prevailing Market data and carried out a demand forecasting up until 2028 (End of BOOT period). There has been a considerable growth rate in the demand of white products in Uganda and the Neighboring countries. 2.1 Oil Transportation System in Kenya and Uganda As earlier mentioned, Kenya has an already functional oil products pipeline to the major cities operated by KPC. In addition to the pipeline, the country relies on rail and road transportation for distribution of the products to the remaining towns. Uganda on the other hand relies mainly on road transportation from Kenya and distribution within the country. 2.2 Market Opportunities for the Pipeline The main driver of the project was to ensure efficient distribution of petroleum products to Uganda. However there are a number of neighboring countries, relying on road transportation of their petroleum products supply through Uganda that would also benefit from the pipeline. These include Rwanda, Burundi, North Western Tanzania and Eastern Congo. The delays caused by long distance hauling add to the final fuel costs. The pipeline will therefore serve a bigger market beyond Uganda. With the new discoveries, depending on the quantities of crude discovered in Uganda, the pipeline will be used later on in transporting white Oil products from Uganda refineries to the Kenya Port of Mombasa for distribution to the wider international market[28]. 2.3 Competitors to the Pipeline Despite the benefits of the pipeline outlined, it is still subjected to stiff competition largely based on the final tariff charged to the shippers. This will ultimately affect the final cost of fuel passed on to the consumers. If the tariff charged for utilizing the pipeline is relatively high in comparison to the cost of using road or rail modes of transport (that are largely being used currently), then the oil marketers may not use up the facility instead they will maintain the current alternatives[29]. The three main competitors, road, rail and marine transport are discussed below. Road Transportation Uganda is currently relying heavily on road transportation, using oil tankers, for its oil imports through Kenya. There are two alternative routes to Uganda, through the Malaba border from Eldoret depot or Busia border from the Kisumu Depot. The shortest route to Uganda is however through the Eldoret Depot. In addition to the relatively shorter distance is its larger capacity, relative to the Kisumu Depot, to handle the extra transit oil products to Uganda. There have been massive delays in product delivery caused by road transportation of petroleum product. However there are a number of factors that have contributed to this delay the main factor being customs clearance for transit oil at the Kenya/ Uganda border where the trucks are expected to move in regulated convoys to avoid tax fraud. The other disadvantages of road transportation are the safety and environmental problems associated with spillage of products and road accidents. The high unit labor costs make road transport more expensive as compared to rail or pipeline over long distances. Despite the shortcomings of road transportation, it is still considered as the fastest way of transportation in relation to the other existing means in the absence of a pipeline. On the other hand it also provides employment to different groups at different levels, the drivers, mechanics etc. as compared to the other modes. Rail Transportation Uganda has two options of transporting oil products by rail. This can be through the Kenyan railway system managed by Rift Valley Railways Company or the Tanzanian railway system. There are three alternative routes by rail to Uganda, two from the Kenyan Side (direct routes from Mombasa and from Kisumu) and one from Dar-es-Salaam in Tanzania. The routes through Kisumu and Dar-es-Salaam involve lake ferries through Lake Victoria. The preferred route by rail is through the Mombasa route, this is about 100km longer than the Kisumu route, as it takes relatively shorter transit duration than the other routes[30]. The railway systems use roll on ferries for moving across the lake. Railway transportation has the advantage of low marginal costs for incremental freight traffic after the initial capital investment is fully paid up. The major concern on the railway system in the East African region is poor maintenance in addition to the operational problems. The networks are not well developed causing delays. It however has environmental and safety advantages over road transportation. Marine Transport Lake Victoria connects the three East African Countries. Uganda therefore has the option of using either route through Kenya or Tanzania. The routes are however a subsidiary to the railway systems through the ferries. The infrastructure is not well developed and the systems are not so actively used. The oil jetty in Kisumu on the Kenyan side has not been in use since mid nineties when the existing pipeline was commissioned. Plans are however underway in looking at the possibility of constructing a loading Jetty in Kisumu but no work or studies have been carried out so far to this effect. Mwanza port in Tanzania is partially in use, the oil exports currently utilize the existing ferries discussed above. Movement via inland waters is a low cost option due to low maintenance costs. The cost of putting up terminal facilities is relatively low compared to other modes of transport. The main disadvantage of marine transport is the inflexibility due to delivery times and environmental concerns due to oil spillage that can negatively affect the fishing industry. 2.4 Risk analysis of the market and other project risks Risk management involves using past occurrences to forecast future events. By extrapolating from the past occurrences, risk analyst can forecast the probability that a particular risk might occur or not[31]. A good understanding of the project phases is important in risk analysis and finally managing the identified risks. The Capital intensive nature of energy ventures calls for a detailed risk analysis before making the final investment decision. Risk analysis starts with risk identification followed by an assessment of the probability of occurrence of the risk and finally an evaluation of the cost estimates of each risk identified. Quantifying the risks enables the Project management team to make decisions on what measures to take to avoid the risks or mitigate and manage them. Adequate analysis of various risks was carried out at the development phase of the project. Changes cannot be fully avoided in such big projects. A good understanding of risk management principals can theref ore help the project team in managing the ever recurring changes. The benefits of risk analysis and risk management are summarized below; [32] A good clarification of project issues right from project inception to completion, A good support of decision making based on a detailed analysis, Continuous monitoring of project definition and specification, A good understanding of project risks hence finding various options of management at a relatively lower cost, The historical data can be used in future risk management procedures. There are a number of risks associated with the Kenya Uganda Petroleum Products Pipeline Project. These have been briefly discussed below based on the market studies that were carried out by the company consultants. Market Risk Analysis Market risks are risks that results from changes in the market environment. There are a number of external and internal forces at work that all firms need to address in order to remain competitive in any business environment. According to Michael Porter, there are five competitive forces in any market environment[33]. It is rare to find more than one petroleum products pipeline in the developing countries because of the capital expenditure involved. Most pipelines in the developing countries therefore enjoy natural monopoly and are hardly threatened by new entrants. From the discussion in the last section, the pipeline will offer the lowest oil products transportation tariff in comparison to the other modes of transportation in addition to the other benefits. It will therefore have a competitive advantage over the other competing modes of transportation. The customers (oil marketer) will therefore be forced â€Å"naturally† to use the pipeline in transporting their products to Uganda. The only threat left would therefore be oil products substitutes. Oil products are currently used mainly for electricity generation and in the transport sector, the largest consumer being the transport industry. The lack of a commercially viable substitute in the transportation sector leaves oil products as the only option. No market risks are therefore envisaged in the 20 year period that TEAL will operate the pipeline and the following years until the region develops any commercially viable substitute. There are however other project risks associated with the pipeline discussed in the following chapters. Other Project Risks Financing Risk Financial risks are risks associated with changes in the financial value of the portfolio. They are therefore risks that lead to reduction of the investments cash flow. Changes in the interest rates, stock market values etc are but some of the major causes of financial risks. The projects Request for Proposal specified a Debt Equity Ratio of 70:30 financing for the pipeline project. The equity contribution by all the parties is an indication of how much risk they are willing to take on the project. The initial bid by TEAL to finance the project was based on the return on investment from the CAPEX and OPEX assumed at the time of contract award. This has however changed significantly posing great risks to the investor. There have been a number of variations that have come up having significant cost impact on the CAPEX. Some of the variations that were not foreseen during project inception have negatively impacted the projects CAPEX leading to reductions in the project returns. A new fi nancial model has however been developed (discussed in the next chapter) to look at the viability of the project. The time delay in the commencement of construction works has also had an impact on the project revenues that were initially forecasted to start in 2008. Discussions are however underway between the JCC and TEAL on eliminating or sharing any loses that may accrue to the developer (TEAL) for the successful completion of the project. Technical Risk Technical risks in engineering projects are exposures to losses that occur mainly due to technological changes or design failures. In order to avoid any negative impact on the project during construction through to the operation phase due to technical failures, it is mandatory to do a thorough analysis of all the design parameters and ensure they are closely monitored and implemented during all the phases of the project. Its also important that provisions are made for any future technological changes during the design stage. Technical failures can also cause losses of revenue due to lack of operation of the facility constructed. It is therefore mandatory that stringent checks are made during design through to construction and finally during the commissioning of the facility and operation. TEAL have put in place all the necessary checks and ensured the design meet internationally accepted standards. The pipeline design was carried out by qualified consultants to TEAL and reviewed by d iscipline engineers in the project team[34]. To avoid any design incompatibility with the already existing pipeline on the Kenyan side, TEAL held several design review meetings with the KPC engineers. An agreement was signed between KPC and TEAL (Interconnection Agreement) to avoid any technical failures of the pipeline networks in the future[35]. Detailed manuals have been put in place for future maintenance and operation of the facility to further eliminate any technical risks. Political Risk Political risks are risks that occur due to changes in the political arena in a particular country. These are mainly changes in governance, policy, civil unrest etc and can have significant impacts on an investments returns. The risk increases where an investment involves two countries like in the case of Kenya Uganda Petroleum Products Pipeline Project because of the differences in governing systems and policies in socio-economic environments. The 2008 post election violence in Kenya had a significant effect on the economic activities in the whole Eastern Africa region. During this period, it was impossible to transport petroleum products to Uganda as the roads were impassable due to civil unrest causing serious impacts on Ugandas socio economic activities. Most investors always opt for taking a Political risk insurance to address this risk but the project team opted on forming a commission representing all the involved parties. The JCC was therefore formed to address political ris k issues in addition to the other tasks discussed in the report already. One of the responsibilities of JCC was therefore to address any potential difficulties that would result from political and national differences between the two countries. The JCC therefore put into place the Legal frameworks through which tendering for investors were managed. On completion of the construction works, a Joint Venture Company will take over the operations of the pipeline. The directors of the JVC will come from the two governments and TEAL. The ownership of the pipeline system is established through the Shareholders Agreement, and the Legal frameworks created by the Host Governments Agreements and the Intergovernmental Agreement[36]. It is however important to note that the two countries have a history of good relations but this should not be an indication of lack of any disagreements between the two governments in the future. The JVC will therefore be a neutral ground where all the pipeline oper ational issues will be discussed. CHAPTER 3 3. Finance Structure of the Pipeline The principal objective of any firms directors is to maximize the shareholders value by undertaking investments with positive returns. Shareholders of a firm can earn returns on their capital from taking up investment decisions themselves and investing in other ventures outside the firm but if they ge

How the Authors Create a Feeling of Fear and Terror in The Ostler, The

How the Authors Create a Feeling of Fear and Terror in The Ostler, The Red Room and The Superstitious Man's Story In order to answer this question I read the relevant stories, i.e. 'The Ostler' by Wilkie Collins, 'The Red Room' by H.G. Wells and 'The Superstitious Man's Story' by Thomas Hardy in great detail. I will now attempt to compare the methods the authors have utilised to create the impact mentioned above. In order to see which one has been more effective in conveying fear and terror, suspense and the extraordinary, in my opinion. Furthermore, I will endeavour to point out the similarities and differences in tense, style and prose between the stories, using quotations where appropriate. Moreover, I will discuss the roles the various characters play. These people are important, as the reader needs to identify to some extent with the narrator and his description and interpretation of his 'human props' as well as the setting they are placed in. The opening to any story is crucial, since the reader may not decide to continue with his intention to 'read all' if he/she is not sufficiently interested in the first few sentences. In 'The Superstitious Man's Story' the reader is struck immediately by an air of mystery, and somehow feels privy to a secret. This is a story steeped in 'hearsay'. The narrator (the seedman's father) painstakingly talks us through every minute detail 'putting away the irons and things, and preparing the table for his breakfast in the morning.' By placing so much emphasis on mundane issues the impact of the extraordinary is in stark contrast. It is almost as if the reader is lulled into a sense of security, ... ...e unknown is intriguing to many. Even though the three stories have a different approach they all centre of the supernatural. They are all written pre-1914 - well before the advent of technology, which has accelerated at an alarming rate. Nowadays, our culture revolves around technology and people require proof. It is essential for an author to set the scene, draw the reader in and when that is accomplished deliver the punch line. All of the authors succeed in doing this. 'The Superstitious Man's Story' is too stark, and puts the reader 'on guard' as to its content. I prefer the gradual style of the other two stories. In 'The Red Room' and 'The Ostler' the settings and the characters enhance the plot immensely. The characters are not developed enough in 'The Superstitious Man's Story', and the setting is rather boring.

Cult of Thinness

The author talks about the different ways in which the American popular culture, families, schools, peer groups, and the health and fitness industry undermine women’s self-confidence as they instill the notions that thinness is beauty and that a woman's body is more important than her mind. She makes it known that there are many different factors as to why there is such a need to be thin these days and why there are so many eating disorders in our society. She blames the media as one of the leading contributing factors as to why our society is consumed with dieting, being thin, and body image and I agree with this.I believe that the media system is corrupt and it influences most of our perceptions, especially women. For example on magazine covers, there are usually pictures of women in bikinis, or even topless showing off their skinny bodies. And in beauty commercials, its usually skinny, tall women used to advertise beauty products. This images and frames are what is branded by media and society as â€Å"looking good† or â€Å"being sexy†; as a result of this, women especially adolescents and young adults compare themselves to these models and feel inadequate.They feel like that is how they are meant to look and may end up dieting or starving themselves or even in more tragic consequences undergo surgery. A 12 year old girl stated, â€Å"When I see those twigs of people in the magazines and on TV, I say, â€Å"I’m going to go on a diet. † You almost want to get thin just so you can wear the right clothes. I watch all my junior high friends – they look like something out of a magazine†. However, the author also talks about some cultures that think that voluptuous, curvy women are a sign of prosperity and also an indicator of their ability to cook and take care of their family

Reality Shows Should Be Banned Essay

The main essence of reality shows is to put ordinary people in a social confined setting with extraordinary environment and activities with the aim of entertaining audiences with the illusion that what is going on is not scripted nor rehearsed. Most reality shows attempt to convince the audience that the participants of the show are being pushed to their physical, emotional or physiological limits in order to complete a specific task or attain a certain goal of which audience cheer on their favorite participant. With the change in times and technology most reality shows have gone over board and have forgotten the basic concept of reality shows and are now focusing more on entertainment than reality that has lead to increase in sexual exposure, humiliation and immorality. Reality shows have lost their way from original series like survivor to the new mediocre series of two celebrities living in a farm yard for a week. Reality TV has joined the ranks of day time entertainment and has lost the spark of spontaneous originality from other forms of scripted entertainment. Additionally, the most famous reality shows worldwide are big brother and Idols; these two are examples of scripted and well rehearsed reality shows. In the just concluded episode of idols a judge was dared to sing out of the blue and it so happened just by â€Å"coincidence† that the band started playing a song which the judge joined in emphatically without hesitation. The crowed cheered and applauded for the â€Å"unexpected† performance by the judge. Such reality T.V. shows give viewers and more so children false hope of a â€Å"happily ever after† reality were heroes and heroines live thus insulting the intelligence of the viewers. In the case of big brother viewers are subjected to sex as a form of entertainment. Relationships formed in the big brother house give the participant a better chance of winning the competition and increase his/her ratings thus the audience spends time and money voting for the participant so they can enjoy seeing the participants relationship grow. And due to the full disclosure nature of the show all activities are broadcasted and shown live on our T.V. sets exposing and encouraging our youths, young adults and children to sex, immorality and promiscuous behaviors. Furthermore, the common comic saying â€Å"its funny until someone gets hurt, then it’s hilarious† comes to life in most reality shows. Producers of reality shows capitalize  on the demise and misfortunes of participants. When a contestant falls down or gets hurt in anyway it is taken as a form of entertainment or comedy not knowing the humiliation and psychological trauma they instill in the participant. Examples of such shows are â€Å"show me the funny† â€Å"Real T.V.† and â€Å"Fear factor†. Show me the funny capitalizes on bloopers of home made videos which show family member having accidents such as hitting each other being bitten by a snake or having a ball hit them on their faces. Turning such perilous or even fatal accidents to o form of humor encourages children to view violence and accidents as vivacious events and not the precarious activities they are. Producers also capitalize on the eviction or the inability of a participant to complete a certain assignment. The humiliation and reaction of a participant being evicted or accepting defeat is a high point of most reality T.V. which is morally and ethically wrong. The failure of a fellow human being should be frowned upon and not celebrated. 2) Here are plenty of reality shows which are being shown on television channels world wide, in which one can see lots of aspirants taking to the stunts and heroic acts as they want to win the coveted title and they did some shots which amaze the audiances and keep them on their tender nooks, its also done to increase the rating of the channel in the tele shows. There are plenty of reality shows which are being shown on television channels world wide, in which one can see lots of aspirants taking to the stunts and heroic acts as they want to win the coveted title and they did some shots which amaze the audiences and keep them on their tender nooks, its also done to increase the rating of the channel in the tele shows. I am not sure if they are there in your part of the world, channels like Sony and Zee TV they show lot of enthusiasm in such things. The weird things they shown on the small screen are hair raising and put a lot of questions in viewers minds as to such things can be accomplished in real life or not. But the stunt mania grips the minds of innocent public and kids alike. They all want feats and also want to show off to their genre of friends and foes. In the process they might hurt themselves badly. Although there are several reports of teen-aged children being hurt in the process of macho man image building but to no avail as the generation is fast and furious, they just want their way and life to be left to them. I am not sure about consequences and impact  they could have but it is for sure, every one wants his part of fame and attention in public, for we are mortal beings and success is our ambition in life. Effect on teenagers Social cognitive theory suggests that meaningful sources of identity can be discovered by people in their teens who feel â€Å"connected† to what they’re viewing. Thus, when attempting to understand media’s role in the development of teenagers, it is crucial to be aware of the time they devote to their shows like reality television due to this strong influence[48] America’s Next Top Model is often criticized for it’s portrayal of women and poor body image. When faced with the image of a thin, beautiful, successful models, young girls may feel inferior, leading to low self-esteem and eating disorders. Likewise, Jersey Shore is denounced for it’s representation of being a single, young adult. Young people idolize the show’s cast, making them susceptible to imitate their actions, such as promiscuity, violence, and binge drinking.[citation needed]

Health Care Economics Essays

Health Care Economics Essays Health Care Economics Paper Health Care Economics Paper Almost all current factors influencing health care, such as, increasing medical care service demand, pharmaceutical prices, medical care organizations’ competition and medical care experts’ remuneration,   involve economics. Absence of comprehension regarding fundamental economic standards leads to erroneous decision-making by making persons develop opinions on the basis of feelings and feelings as opposed to logical economic standards (Schafermeyer, 2000). The health care structure in America to some extent represents the principles, aims, and beliefs found in free-market industrialist financial systems governed by contention. Physicians’ competition occurs locally for principal care doctors and amongst specialists on broader geographical extents. Medical doctors and associated practitioners also do compete, for instance, between optometrists and ophthalmologists as well as between psychologists and psychiatrists. Administered care arrangements depict lesser medical care service (tests and hospitals) utilization. Physician conduct is one factor affecting medical care and thus competition as well occurs in location, professional conduct plus waiting duration. The conduct of big urban plastic surgeons, for instance is significantly different compared to country pediatricians’. Therefore, demeanor is linked with health care options, costs, payments, and services. Demeanor is as well linked to state public medical care funding and physician education (Fisher, 2006). The economic law that states that a demand curve slopes downwards is probably the most fundamental of economic principles. It implies that demanded quantity decreases with increasing commodity prices. Demand curves have commodity prices on the perpendicular axes, commodity quantities on horizontal axes, and negatively inclined lines illustrating the relationship between the two entities. Other factors influence commodity demand with Income being probably the most apparent factor in general. Regarding health care, another key aspect is persons’ health condition. Reduced health Care is demanded when health conditions improve. Elevated revenue moves demand curves away from the origins for normal commodities, and reverses to the origins for inferior commodities. Improved health moves demand curves back inwards (Fisher, 2006). Reports regarding a vicious fresh influenza will lead to increased flu medication demand, thus making demand curves shift outwards. This implies that increased flu medication is needed compared to previous figures for every price. Flu medication demand also demonstrates seasonal patterns by moving outwards with the approach of fu periods. Alternatively, many health services’ demand curves sift outwards with Age. Outward demand curve movement implies that, for whatever price stage, there is increased demand following shifts as compared to demand levels at such prices prior to the movement. Demand curves shift as a   reaction to entities different from price, or, as a reaction to factors influencing demand that are not explicitly represented on a single of the graph axes. Such movement is referred to as demand change. Following price change, movement is made from a single demand curve point to a different same curve point. This implies movement happens the length of such curve, however, the curve position, in relation to axes, remains constant. Such an alteration is called demanded quantity change. Therefore, price changes leads to demanded quantity changes and changes in other factors, causing demand curve shifts, leads to demand alteration. Learning the behavior of demand when one decisive factor is altered is vital. Elasticity is a standard responsiveness measure. Commodity price demand elasticity is calculated as a proportional alteration in demanded quantity divided by the proportional price alteration that led to the demanded quantity modification. Since demanded quantity and price are always inversely proportional, own-price demand elasticity always is negative. A minus (-) 3 elasticity implies that a 1% price elevation leads to a 3% demanded quantity reduction (Greenberg, 2002). Demand is regarded as being elastic when own-price demand elasticity is bigger than 1 in total values. Alternatively, when own-price demand elasticity is smaller than 1 in complete value, such demand is regarded as being inelastic. With demand elasticity amounting to minus (-) 1, such demand curves are said to depict unit elasticity. Linear demand curves, having constant curve slopes, have elasticity changing with movement along the demand curves. With extremely low prices, demand becomes inelastic; high prices depict elastic demand. Starting with extremely reduced prices, thus large demanded quantities, and raising such prices, shifting upwards and towards the left along demand curves, demand elasticity progressively shifts from inelastic towards elastic, intersecting at the curve midpoint. Such point’ demand elasticity becomes unitary (Ferguson, 2002). Calculated commodity demand elasticity thus depends on the prices where such calculation was done. High prices lead to increased demand elasticity, although commodity nature remains constant. However, Consumer reactions to price alteration do change; increasing prices makes consumers increasingly responsive to additional alterations. Demand elasticity also influences commodity nature. General doctors’ services demand is very elastic (approximately -0.2) in America. Demand for a specific doctor’s services is much more, (approximately -3.0). The disparity arises due to the fact that for particular physician services, generally additional alternative supply sources are available, as compared to general physician services. Visit demand generally is quite inelastic, however specific physician’s visit demand is somewhat extra elastic owing to presence of different supply sources like walk-in hospitals and crisis rooms (Fisher, 2006). User charges imposed on every office-category visits have comparatively little influence on demanded quantity, however, charges imposed on office-category visits to crisis rooms have greatly bigger influence as regards minimizing demanded quantity since3 it prompts persons to adjust from looking for assistance at crisis rooms and seek such from different sources.