Economics Essay

by admin | Mar 20, 2023 | Uncategorized

Economics: How Markets Work Essay
Introduction
Economics can be defined as the study of how scarce resources are utilized by people either individually or collectively. A specialist in the study of economics is referred to as an economist. A number of reasons have been advanced in the study of economics not necessarily by economists only (Ashby, p. 1).

Importance of understanding economics
The study helps to clear any anxiety that may arise in the day to day life experiences. This anxiety may be prompted by various aspects such as interest rates and fluctuation of prices. This helps in avoiding unnecessary stress that would have been caused by lack of understanding of the economic changes that take place.

It equips one with skills that are helpful in making informed choices even in the choosing of leaders. In this case, an individual can assess the potential leader with a policy that will address social issues like education, health, poverty, and employment among others. Thus, an understanding of economics will improve one’s life and those of the people around in general (Ashby, p. 4).

Basic concepts in economics
For an individual to have a comprehensive understanding of economics, it is important to understand the related concepts. In this case, one should be knowledgeable about economic concepts. Thus, there are various terms and concepts that are used in economics. “Descriptive/positive economics” is a term used in reference to an analysis done by economists. This term explains and tries to predict the choices that individuals are likely to make and the reasons for their choices.

In such a prediction, the economists may give their opinion on what choices the people should make. Such a practice is referred to as “normative economics”. When an economist does a study on the performance of an individual, that is termed as “microeconomics”. On the other hand, if the study is concerned with the performance of a whole entity such as the state, it is called “macroeconomics”.

Though economists cannot predict with a guaranteed accuracy, most often, their results reflect the correct position of a given matter. This can be attributed to the fact that economists deal with large numbers of people, and thus getting the average of how they will respond is not hard.

For example, the economists conduct analyses on how some people will react in a same scenario and then draw a conclusion of a larger group of the population. This has been used over time for the study of suppliers of goods since they will most often want the same result of greater outcomes. The same applies to buyers and sellers. However, the practice of these different players has to be regulated. In this case, the government develops regulation parameters for this purpose.

Troublesome terms
Some terms used in economics are troublesome. This is especially the case to those who have little or no understanding of what these terms mean. For instance, the term economists’ “self interest” is more often taken negatively to imply a negative aim by the economists. However, it connotes the study of an issue so as to get relevant information that a conclusion can be based on by an economist (Ashby, p. 9).

There are other economic terms that are misunderstood by individuals. For instance, “profits” is another term that is often misunderstood to mean undeserved gains. However, the term should be understood to mean a financial return to those investing in a business. It is well known that no one will want to venture into anything that is not gainful. Therefore, business people make business investments with the hope of reaping profits.

Economists also differentiate between “accounting profits” and “economic profits”. In this case, the accounting profits are normally lesser than the economic profits. Accounting profits are further subdivided into “necessary profits,” which include total costs and “economic profits,” which refer to an excess of the expected profits.

Other terms that are most often used by economists include “price”, “market value” and “average revenue”. All these are used in reference to the amount a given product sales. Another differentiation made by economists is that of “demand” and “want”. The former is that which a person is willing, ready, and able to have whereas the latter refers to the things that are just desired.

The term “efficiency” is used in two respects related to production and allocation. Productive efficiency refers to the cost of generating one unit of output. On the other hand, allocative efficiency refers to how well the economy utilizes factors of production. The factors of production include resources, labor, capital and entrepreneurship.

Visualizing possibilities
Opportunity cost emerges in every choice that one makes including a choice not to spend (Ashby, p. 19). This is the basis of the common saying that there is nothing for free. This aspect can be illustrated by the graph of a production possibilities frontier. Under this, it demonstrates that the economy can satisfy demand if factors of production are managed properly.

Market Basics
This refers to the factors that do influence the decision of a buyer when he or she is in the market. The first aspect that comes is that of price. The buyer is bound to assess if the price quoted by the seller of a given product is consistent with the value he or she stands to gain if that commodity is purchased. Factors such as the buyer’s tastes and preferences play a big role too (Ashby, p. 34). The buyer will most often buy a product when its price is low.

There are different factors that affect decisions that are made in the market. All the market players have different situations that face them. The buyer has to assess the price expected to pay and compare it with what he or she stands to gain. Nevertheless, the seller too has in mind how he acquired the said product from the supplier. The seller also thinks of how much he will gain if he sold the product at a given price (Ashby, p. 43). These are self interests that shape the decisions of the market players.

Demand and supply
In most instances, a buyer will buy a given product if its price is low. The buyer will always see that it is in his self interest that he gains from a product by incurring the lowest possible cost (Ashby, p. 38). In addition, buyers find it easy to buy a limited amount of a product per period during a time when the price is higher.

On the other hand, the suppliers face a big challenge in fixing the price since they lack the advantage that the seller will have of assessing the reaction of the buyer on mention of the price. An excess supply situation will arise if the suppliers fix a very high cost of the product (Ashby, p. 43).

Ordinarily, supply and demand affect tangible commodities like agricultural products, which are sold in a number of commodity exchanges across the globe. Bodies like the Chicago Board of trade and Tokyo commodity exchange foresee this process of exchange. The offers of demand and supply apply to these exchanges and the traders fix the prices so as to balance supply and demand.

Tastes, preferences, one’s income, and the product’s price affect the demand level. Shifting of the demand curve illustrates this aspect. Supply is also affected by changes in demand. Factors that move the supply curve to the right include increased number of suppliers while issues like technological breakthroughs will move the curve downward (Ashby, pp. 63-68).

Imperfect markets
Imperfect markets refer to an aspect that emerges in the market. This is when the point of agreement of a product’s price is supposed to be reached at willingly by the seller and buyer in the market. This point is referred to as the equilibrium point (Ashby, p. 60). The price that is agreed by the buyer and the seller often apply to the entire community. However, it is only determined by the buyer and seller. These make the market an imperfect place since it lacks allocative efficiency

Stocks versus Flows
Whereas supply can be taken as a flow of product into the market, demand can be looked at as a flow of products leaving the market. Supply and demand are thus flows of amounts of products supplied and those demanded whose magnitude is affected by buyers, sellers and producers. In a market led economy, price adjustments is used to regulate the flow of demand and supply which are otherwise independent of each other (Ashby, p. 71).

Market Equilibrium
This refers to the point of agreement between buyers and sellers such that, neither feels displeased with what he or she gets. The equilibrium price is that which supply equals demand. This reflects the current market reality of relative scarcity of products. Demand and supply conditions play equal roles in determining the equilibrium price.

Thus, both buyers and sellers are involved in this exercise. Finding the equilibrium price guards against product shortage and surplus of a given product. This helps both the market players since suppliers cannot sell more than what people are demanding (Ashby, p. 71-80).

Resource misallocations
Society depends on resources that are scarce and need to be distributed properly so as to satisfy the demands of society. Therefore, maximization of the net profits gained ought to be practiced by all market stakeholders.

Proper allocation of resources prevents dead-weight loss, which involves losing potential benefits to no one. In order to have a fulfilling market, some factors ought to be left undisturbed by external forces. That is why government intervenes in determining market prices destabilizes either the supply or demand of a given commodity.

For instance, after the Second World War, production shifted to military related materials and it took the intervention of the government to introduce rationing and universal wage control that helped prevent impending inflation. In general, prices do reflect the underlying reality that is present in the market. Thus, policies that are in line with the market realities should be implemented (Ashby, pp. 82-92).

Conclusion
Economics is a critical subject in the society. It is an arena that studies the forces that drive people to make certain choices. It is a helpful in one area to society since it gives people the basis of forming their choices.

In economics, there are other factors that come into play such as demand, supply, and opportunity cost among others. The buyer and seller in the market place develop varied opinions that are inclined to each’s self interest. There is no perfect market since they all lack inclusiveness of the entire community in decision making related to the setting of prices.

Works Cited
Ashby, David B. How markets work. Lake Oswego, Oregon. EconAnalytics, 2011. Print.

Construction Essay

by admin | Mar 20, 2023 | Uncategorized

Construction Law: Review Essay
Key conditions used in construction contracts
The first condition entails the intentions of the parties involved in the contract. The parties are bound to act in a contractual spirit based on mutual trust and cooperation for the contract to be wholly successful (10.1). The terms and conditions used in the contract ought to be helpfully and fully defined to both parties of the contract so as to enhance clear understanding (11). Communication is very essential while entering into the contract to ensure that all the parties are in agreements as they fully have an understanding of the terms. All forms of communication that ensues in the contract are formal and should all be done in writing and incase a period for reply is specified in the contract data, then this should specifically done within that period (12).

The employer has the power and is in lead control of the contract. He may consequently give instructions or directions that alter or change the works information on how the contract will be carried out (13.2). Such are binding and must be followed to the letter to ensure a workable contract. The site that the construction will take place should be accessed by the contractor to enhance early planning of the construction. The contractor must be allowed by the employer to access and use the site and should provide the services well stated in the works information (14). Where the contractor may notice or may require to bring attention to the employer about something in regard to the contract, such early warnings in regard to how the contract should be carried out are a significant requirement (15). This further helps in ensuring that the parties very well understand the terms binding them in the contract.

As regards, the condition of time to the contractor may not start before the set date and completion may be on or before the set completion date (30.1). The contractor must submit a scheduled forecast or programme of activities to be carried out throughout the contract (31). He may not start before, and the completion of the contract may be before, or after the completion date as stated in the contract. The element of time is a major concern in the construction industry as failure to meet the scheduled time may lead to inconveniencing the employer. The employer is entitled to instruct the contactor to stop or restart the work according to how he sees its progress. In cases where there are delays due to certain events occurring, this may constitute compensation (60). Such events may arise from the action or inaction by the employer though also includes some neutral causes such as physical conditions beyond the control of the employer. The procedures for notifying quotations, compensating events are stipulated in the contract forms (62 and 63).

In regard to the condition or element of control, to start with, the early warnings obligation as regards the contract and its practice may constitute a control mechanism which is very vital in the contract (15). The employer has the overall say as pertains the working out of the construction contract. The employer may delegate any actions and may similarly cancel any delegation (13.4). An employee may be removed through his instructions (21.3). Hence the control condition will cover the employer’s requirements and the expected standards of the project. The quality of the project should not be compromised, and any defects noticed should brought to the attention of the employer and a defects certificate produced (41.3). Before a defects certificate is issued, the contractor is liable for replacement of lost plant and materials and any damages to the works (43.1).

The condition concerning the costs involved in the project, price and other forms of payment, that is, money, the contractor is required to make an application for payment by the stipulated assessment day, once a month (50.1). The application entails a detailed account of how the money has been used and assessed (50.2). A certificate is normally issued to certify the amount to be paid in accordance to the work performed, that is, the degree of completion. Ordinarily, the employer is to pay within three weeks after the next assessment day (51). Officers such as the quantity surveyor help in the certification of work completed.

The statutory obligation condition is implied, and arises in instances of breach of the statutory duty by the employer. The contractor in such cases is indemnified against claims or proceedings and costs arising thereby (81.1). Specifically, in regard to the health and safety and CDM stipulated regulations, there is no express reference in that regard. The only instance of such provision could be through the provision of reasons for termination of the contract by the employer for the contractor breaks a regulation (90.3).

Insurance is very vital in the construction contract. There is an insurance table provided in the contract within which the contractor is to provide joint names for insurance purposes (82.1). There are several forms of insurance with basic and a major reason for compensation or replacement cost in respect of loss or damage to plant, materials, individuals and the works. The insurance cover extends from the starting date to the completion date in the case of plants and materials and defects certificate in the case of the works. The other form of insurance is the liability insurance. This insurance insures the owner from possible accruing legal liabilities for another person’s loss. Moreover, insurance is also required to cover the contractor’s liability for damages to property other than works, and injury or death to persons for the minimum cover as stated in the contract. The contract stipulates the extent to which the contractor’s liability for loss or damage to the employer’s property will be covered with the insurance (80.1).

Termination is another basic element of the contract. This clause should be included. Both the employer and the contractor have the right to terminate the contract though this is not expressly stated in the contract. A construction contract can be terminated for a cause purposes or convenience reasons. Other reasons, which may lead to the termination of a contract includes insolvency of the contractor, the parties may also bring the contract to an end by basically modifying the agreed contractual terms and conditions. Owner’s deficiency in fulfilling his obligation may also lead to termination of the contract among other reasons. The employer must issue a termination certificate (90.1) after which the contractor must cease work and leave the construction site (91.1) and may have the work completed by others. The amounts accruing on termination are as stated according to the reasons which dully apply (92).

Additionally, the contract has the condition for miscellaneous or provision for other unforeseen occurrences. It stipulates for instance that use of NEC Engineering and construction short sub-contract would be necessary. With reference to the contract data, payments provisions in regard to Addendum Y (UK) 2 may be considered though not allowed within a short contract. The Addendum Y (UK) 2 on the third parties rights is a state as suitable for use within the short form. Additionally, Clauses 93 to 95 on dispute resolution in the short form should be replaced by clauses93UK to 95UK, for use in the United Kingdom where the Housing Grants, Construction and Regeneration Act 1996 applies.

Where disputes arise between the employer and the contractor, their settlement should be in reference to the adjudication (93) and other forms as specified in the contract. Under the adjudication process, this requires the presence of an appointed adjudicator whose name may be given in the contract. The adjudicator has the power as indicated and based upon the relevant sections of the Housing Grants, Construction and Regeneration Act 1996 and supplemented either by the statutory Scheme for Construction Contracts, or whichever adjudication process has been named in the contract. The adjudicator’s decision is final and binding unless and until referred to a further tribunal. The arbitration process should be well stated in contract data.

Reference list
Clamp,H.,Cox,S. &Lupton,S. (2007) Which contract? RIBA Publishing15.Bonhill Street London.

Construction Essay

by admin | Mar 20, 2023 | Uncategorized

Automation and Mechanization and Improving Productivity in Construction Essay
Introduction
The level of complexity in construction projects is quite high, especially in large construction projects where the magnitude of work is high. Among the issues that emerge in construction projects, which reduce efficiency, are physical accidents, health hazards, and the wastage of construction materials, among other issues. These are setbacks when it comes to production efficiency (The Modular Building Institute 1). This paper suggests that a higher deployment of technology (automation) and mechanization is necessary for improving production efficiency in construction projects. The paper explores how these factors that reduce production efficiency can be dealt with through automation.

Automation and the reduction of accidents in construction sites
More often than not, construction sites have an array of activities going on at the same time. Given the nature of workload in construction sites, people working in these sites are at a high risk of being injured by the falling objects because they cannot detect such objects (Zou, Zhang, and Wang 1-2). Navon and Kolton (733) argue that construction professionals pay less attention to the issue of safety in the construction sites because of concentrating on the progress of the project. Most fatalities and injuries on construction sites come from objects that fall from heights. Therefore, most researchers in the field of construction engineering are looking at the possibility of automating the safety procedures to reduce the exposure of people in the sites to accidents. One of the suggested technologies is the automation of fall prevention procedures. Such a safety model helps in identifying areas that pose a risk in construction projects. With the model, it is easy to identify the hazards in the construction sites. Besides identifying areas that pose a risk, the model also proposes the mechanisms that can be used to protect people from such risks. Such models are established and run on a continuous basis throughout the lifecycle of construction projects (Navon and Kolton 2006, 739-741). According to Navon and Kolton (2007, 226-27), it is important to incorporate automated safety models into project management cycles in the preliminary stages of the project; that is, the design stage. This helps in minimizing the faults and risks in the early stages of the project, thereby enhancing the stability of the projects.

According to Mikami et al. (1), most construction sites or industries pose great health risks, resulting in high rates of employee turnover and sick-offs. These reduce productivity. One of the modalities of reducing the health-related risks is the development of mechanical systems that can help in detecting the dangerous levels of wastes that are released during construction. For instance, there should be systems that provide warnings when the dust levels are too high. In addition, mechanization can help prevent employees from getting into contact with the hazards through the development of machines that handle the tasks for such tasks.

Material wastage minimization through automation and mechanization
According to van Gassel and Maas (44), the ability of companies in the construction industry to minimize resource wastage depends on the pace at which they can adopt computer-aided technologies in their construction projects. One of the modalities of reducing resource wastage is through the use of automated systems like robots to deliver materials. One thing that increases the costs of construction projects is the rampant wastage of construction materials. The costs of construction projects can be far much lower if such wastages are put in check (Zhai et al. 747). According to Mikami et al. (1), the wastage of materials in the construction industry can be dealt with through the deployment of effective structural stability technology in the development of construction materials. This is patterned by the construction operations, like the automation of most of the material handling processes in the actual phases of production to reduce the chances of damage and overuse of materials by the laborers.

Wakisaka et al. (111) observe that large construction projects, like the construction of high-rise buildings, can be more labor-intensive when there is an immense use of manual labor. Moreover, there is a high chance of material wastage in such projects. However, the researchers ascertained the essence of using a parallel material delivery system and a system of managing materials using computer-aided design technology. Under a single material delivery system, several cranes are attached to ensure that there is speedy delivery of materials. This ensures that there is quickness and efficiency in construction. It also reduces the cost of manpower and the possible wastage of materials by the laborers (Wakisaka et al. 112). van Gassel (1019) observes that the most desired technique in construction is the mechanizing of Removable Modular buildings to embrace the construction of new and permanent structures. Embracing higher standards of mechanization in most of the components of the RMB enhances the standards of construction.

Effective management of urban construction
The complexity that is exhibited in the construction projects that take place in the urban areas requires the deployment of the best project management techniques to cut down the costs of such projects. Therefore, the deployment of information technology enhances the quality of practices in such construction processes (EIO 5). Effective management of urban projects depends on the ease with which the supply chain process is structured. Automated management of risk and value in urban construction projects enhances the ability of project managers to influence the manufacturers to adjust the materials to fit the specific building standards and codes in the urban areas (Gudnason and Scherer 398).

There is a need to have a comprehensive strategy when it comes to the management of urban construction projects. In this case, urban planners must be involved in the assessment of construction plans to ensure that all key considerations are taken into account by the construction companies. Among these are the hydraulic grade lines, the flood paths, and the velocities of different places in town. Local construction plans must look into these infrastructural issues as they all determine the sustainability of the urban construction projects. For example, the lack of consideration of the flood paths in the construction plans can result in the soaking up of buildings in case of flooding and heavy rains (Calabrese 203).

Urban construction projects entail a lot of demolitions and the disposal of materials. Therefore, the enhancement of mechanical recovery techniques is one of the best ways of reducing the costs of disposing of materials. The debris can be mechanically recycled and redeployed in the construction sector (U.S. Environmental Protection Agency 1-2). Moreover, there is the issue of ensuring that the risks that are associated with the projects are known and taken into the consideration by the project managers, thereby reducing the possible effects of such dangers (Hou 11).

According to Calkins (390), urban construction projects are quite complex due to the complexity of the infrastructure platform in the urban areas. Urban areas have huge and dense populations, a factor that points to the need for a higher level of consideration of risk management in project construction (Maas and van Gassel 435-436).

Conclusion
The argument presented in this paper denotes that there are numerous ways in which productivity efficiency can be attained in construction projects through the deployment of information and mechanical technologies. Such technologies reduce the cost of labor. They also save on the cost of material, as well as increasing quality in construction projects.

Works Cited
Calabrese, Luisa. The Architecture Annual 2007-2008. Delft University of Technology. Amsterdam: 010 Publishers, 2010. Print.

Calkins, Meg. The Sustainable Sites Handbook: A Complete Guide to the Principles, Strategies, and Practices for Sustainable Landscapes. Hoboken, NJ: Wiley, 2012. Print.

EIO. Resource Efficient Construction. 2012.

Gudnason, Gudni and Raimar Scherer. EWork and EBusiness in Architecture, Engineering and Construction. London: Tylor and Francis Group, 2012. Print.

Hou, Zhixiang. Measuring Technology and Mechatronics Automation in Electrical Engineering. New York, NY: Springer, 2012. Print.

Maas, Ger and Frans van Gassel. “The Influence of Automation and Robotics on the Performance Construction.” Automation in Construction 14.4 (2005): 435-441. Print.

Mikami, Yorihito, Shirou Sukenari, Seiji Aso, and Ryohei Takada. “Development of Mechanization and Labor Saving Technology for Refractory Maintenance.” Nippon Steel Technical Report No. 98. 2008. Web.

Navon, Ronie and Oren Kolton. “Algorithms for Automated Monitoring and Control of Fall Hazards.” Journal of Computing in Civil Engineering 21.1 (2007): 21-28. Print.

Navon, Ronie and Oren Kolton. “Model for Automated Monitoring of Fall Hazards in Building Construction.” Journal of Construction Engineering & Management 132.7 (2006): 733-740. Print.

The Modular Building Institute. Improving Construction Efficiency & Productivity with Modular Construction. 2010. Web.

U.S. Environmental Protection Agency. Building Savings: Strategies for Waste Reduction of Construction and Demolition Debris from Buildings, 2000. Web.

van Gassel, Frans and Ger Maas. Mechanising, Robotising and Automating Construction Processes, 2005. Web.

van Gassel, Frans. Mechanization and Automation by the Manufacturing of Removable Modular Buildings, 2010. Web.

Wakisaka, Tatsuya, Noriyuki Furuya, Yasuo Inoue, and Takashi Shiokawa. “Automated Construction System for High-rise Reinforced Concrete Buildings.” Automation in Constructions 9.3 (2000): 229-250. Print.

Zhai, Dong, Paul M. Goodrum, Carl T. Haas, Carlos H. Caldas. “Relationship between Automation and Integration of Construction Information Systems and Labor Productivity.” Journal of Construction Engineering & Management 135.8 (2009): 746-753. Print.

Zou, Patrick X.W., Guomin Zhang and Jia-Yuan Wang. Identifying Key Risks in Construction Projects: Life Cycle and Stakeholder Perspectives, 2005. Web.

Construction Essay

by admin | Mar 20, 2023 | Uncategorized

Automation and Mechanization and Improving Productivity in Construction Essay
Introduction
The level of complexity in construction projects is quite high, especially in large construction projects where the magnitude of work is high. Among the issues that emerge in construction projects, which reduce efficiency, are physical accidents, health hazards, and the wastage of construction materials, among other issues. These are setbacks when it comes to production efficiency (The Modular Building Institute 1). This paper suggests that a higher deployment of technology (automation) and mechanization is necessary for improving production efficiency in construction projects. The paper explores how these factors that reduce production efficiency can be dealt with through automation.

Automation and the reduction of accidents in construction sites
More often than not, construction sites have an array of activities going on at the same time. Given the nature of workload in construction sites, people working in these sites are at a high risk of being injured by the falling objects because they cannot detect such objects (Zou, Zhang, and Wang 1-2). Navon and Kolton (733) argue that construction professionals pay less attention to the issue of safety in the construction sites because of concentrating on the progress of the project. Most fatalities and injuries on construction sites come from objects that fall from heights. Therefore, most researchers in the field of construction engineering are looking at the possibility of automating the safety procedures to reduce the exposure of people in the sites to accidents. One of the suggested technologies is the automation of fall prevention procedures. Such a safety model helps in identifying areas that pose a risk in construction projects. With the model, it is easy to identify the hazards in the construction sites. Besides identifying areas that pose a risk, the model also proposes the mechanisms that can be used to protect people from such risks. Such models are established and run on a continuous basis throughout the lifecycle of construction projects (Navon and Kolton 2006, 739-741). According to Navon and Kolton (2007, 226-27), it is important to incorporate automated safety models into project management cycles in the preliminary stages of the project; that is, the design stage. This helps in minimizing the faults and risks in the early stages of the project, thereby enhancing the stability of the projects.

According to Mikami et al. (1), most construction sites or industries pose great health risks, resulting in high rates of employee turnover and sick-offs. These reduce productivity. One of the modalities of reducing the health-related risks is the development of mechanical systems that can help in detecting the dangerous levels of wastes that are released during construction. For instance, there should be systems that provide warnings when the dust levels are too high. In addition, mechanization can help prevent employees from getting into contact with the hazards through the development of machines that handle the tasks for such tasks.

Material wastage minimization through automation and mechanization
According to van Gassel and Maas (44), the ability of companies in the construction industry to minimize resource wastage depends on the pace at which they can adopt computer-aided technologies in their construction projects. One of the modalities of reducing resource wastage is through the use of automated systems like robots to deliver materials. One thing that increases the costs of construction projects is the rampant wastage of construction materials. The costs of construction projects can be far much lower if such wastages are put in check (Zhai et al. 747). According to Mikami et al. (1), the wastage of materials in the construction industry can be dealt with through the deployment of effective structural stability technology in the development of construction materials. This is patterned by the construction operations, like the automation of most of the material handling processes in the actual phases of production to reduce the chances of damage and overuse of materials by the laborers.

Wakisaka et al. (111) observe that large construction projects, like the construction of high-rise buildings, can be more labor-intensive when there is an immense use of manual labor. Moreover, there is a high chance of material wastage in such projects. However, the researchers ascertained the essence of using a parallel material delivery system and a system of managing materials using computer-aided design technology. Under a single material delivery system, several cranes are attached to ensure that there is speedy delivery of materials. This ensures that there is quickness and efficiency in construction. It also reduces the cost of manpower and the possible wastage of materials by the laborers (Wakisaka et al. 112). van Gassel (1019) observes that the most desired technique in construction is the mechanizing of Removable Modular buildings to embrace the construction of new and permanent structures. Embracing higher standards of mechanization in most of the components of the RMB enhances the standards of construction.

Effective management of urban construction
The complexity that is exhibited in the construction projects that take place in the urban areas requires the deployment of the best project management techniques to cut down the costs of such projects. Therefore, the deployment of information technology enhances the quality of practices in such construction processes (EIO 5). Effective management of urban projects depends on the ease with which the supply chain process is structured. Automated management of risk and value in urban construction projects enhances the ability of project managers to influence the manufacturers to adjust the materials to fit the specific building standards and codes in the urban areas (Gudnason and Scherer 398).

There is a need to have a comprehensive strategy when it comes to the management of urban construction projects. In this case, urban planners must be involved in the assessment of construction plans to ensure that all key considerations are taken into account by the construction companies. Among these are the hydraulic grade lines, the flood paths, and the velocities of different places in town. Local construction plans must look into these infrastructural issues as they all determine the sustainability of the urban construction projects. For example, the lack of consideration of the flood paths in the construction plans can result in the soaking up of buildings in case of flooding and heavy rains (Calabrese 203).

Urban construction projects entail a lot of demolitions and the disposal of materials. Therefore, the enhancement of mechanical recovery techniques is one of the best ways of reducing the costs of disposing of materials. The debris can be mechanically recycled and redeployed in the construction sector (U.S. Environmental Protection Agency 1-2). Moreover, there is the issue of ensuring that the risks that are associated with the projects are known and taken into the consideration by the project managers, thereby reducing the possible effects of such dangers (Hou 11).

According to Calkins (390), urban construction projects are quite complex due to the complexity of the infrastructure platform in the urban areas. Urban areas have huge and dense populations, a factor that points to the need for a higher level of consideration of risk management in project construction (Maas and van Gassel 435-436).

Conclusion
The argument presented in this paper denotes that there are numerous ways in which productivity efficiency can be attained in construction projects through the deployment of information and mechanical technologies. Such technologies reduce the cost of labor. They also save on the cost of material, as well as increasing quality in construction projects.

Works Cited
Calabrese, Luisa. The Architecture Annual 2007-2008. Delft University of Technology. Amsterdam: 010 Publishers, 2010. Print.

Calkins, Meg. The Sustainable Sites Handbook: A Complete Guide to the Principles, Strategies, and Practices for Sustainable Landscapes. Hoboken, NJ: Wiley, 2012. Print.

EIO. Resource Efficient Construction. 2012.

Gudnason, Gudni and Raimar Scherer. EWork and EBusiness in Architecture, Engineering and Construction. London: Tylor and Francis Group, 2012. Print.

Hou, Zhixiang. Measuring Technology and Mechatronics Automation in Electrical Engineering. New York, NY: Springer, 2012. Print.

Maas, Ger and Frans van Gassel. “The Influence of Automation and Robotics on the Performance Construction.” Automation in Construction 14.4 (2005): 435-441. Print.

Mikami, Yorihito, Shirou Sukenari, Seiji Aso, and Ryohei Takada. “Development of Mechanization and Labor Saving Technology for Refractory Maintenance.” Nippon Steel Technical Report No. 98. 2008. Web.

Navon, Ronie and Oren Kolton. “Algorithms for Automated Monitoring and Control of Fall Hazards.” Journal of Computing in Civil Engineering 21.1 (2007): 21-28. Print.

Navon, Ronie and Oren Kolton. “Model for Automated Monitoring of Fall Hazards in Building Construction.” Journal of Construction Engineering & Management 132.7 (2006): 733-740. Print.

The Modular Building Institute. Improving Construction Efficiency & Productivity with Modular Construction. 2010. Web.

U.S. Environmental Protection Agency. Building Savings: Strategies for Waste Reduction of Construction and Demolition Debris from Buildings, 2000. Web.

van Gassel, Frans and Ger Maas. Mechanising, Robotising and Automating Construction Processes, 2005. Web.

van Gassel, Frans. Mechanization and Automation by the Manufacturing of Removable Modular Buildings, 2010. Web.

Wakisaka, Tatsuya, Noriyuki Furuya, Yasuo Inoue, and Takashi Shiokawa. “Automated Construction System for High-rise Reinforced Concrete Buildings.” Automation in Constructions 9.3 (2000): 229-250. Print.

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Zou, Patrick X.W., Guomin Zhang and Jia-Yuan Wang. Identifying Key Risks in Construction Projects: Life Cycle and Stakeholder Perspectives, 2005. Web.

Marketing Essay

by admin | Mar 20, 2023 | Uncategorized

Marketing for Maximize Product Sales Essay
Introduction
Marketing is one of the most important activities in an organization. This is more so in the contemporary world where the market has been characterized by a very high level of competition. The main goal of any organization is to maximize its sales. This is because the level of sales is the major criteria that determine the profitability of an organization. Therefore, marketing is of great importance to an organization.

Promotion mix refers to the various methods and choices which an organization has to make in its attempt to bring its product or service to the market (Mind Tools 2011). This process can clearly be expressed through the concept of 4p’s which stands for product, place, price and promotion. This framework provides guidance on how an organization can market its product effectively.

Product in this case is the services or tangible products that are produced in an organization. An organization has to make several decisions on the product. These include the safety of their product to consumers, brand name, quality, packaging among others.

Place is all about the distribution of the product. It ensures that the product is available to the customer on the right place in the right time. Some of distribution decisions include market coverage, transportation, ordering, and distribution centers among others. Price is also an important part in marketing.

Some of the price decisions that can be used in marketing include the volume discounts, price discrimination, retail prices as well as seasonal pricing. Promotion involves the process of communicating to the consumers about the product. It is aimed at building positive attitudes towards the product. These may involve advertisement, sales promotion, personal selling or marketing communication.

Apple Inc is one of the most successful organizations in the world. This success can be attributed to its effective marketing strategy. Ipad2 is the second generation computer which has been designed and marketed by the company.

Product
In order for the product to perform well in the market, it should be beneficial to the consumers. For any organization to maximize its sales, its product must be stronger when compared with the products or services provided by its competitors.

There are several ways through which an organization can modify its product in order to improve its competitiveness. One of the most common methods is through differentiation. Through differentiation, an organization manages to make its product unique from other similar products provided by their competitors in the market.

Ipod2 has several features that make it unique from others especially those provided by its competitors. It is very thin and therefore it is more portable than the other products. This attracts a significant number of customers because most people do not like carrying gorgeous electronic devices.

This product also has batteries which can last for more than ten hours (GJ56 2011). This attribute attracts a large number of customers because it can be used for instance when one is traveling places where they can’t access the power. These unique characteristics win a significantly large number of customers in the market. It also helps in differentiating the product from the similar products provided by its competitors.

Place
In order for an organization to maintain a high level of sales, it must ensure that the product and services are always available and always accessible to both existing and potential customers. For an organization to ensure that its product is available to its customers in the right place and in the right time, it needs to have a clear distribution strategy.

An organization must include the strategies which ensure that the company’s goods and services are available to their customers in the right place and in the right time. Inefficiencies like shortages are likely to discourage the customers and an organization may lose some of them in the process.

Apple Inc is very much determined to ensure that its products are available at the right time and in the right place to its customers in order to avoid unnecessary shortages. For instance, ipad2 is available in all places where other Apple Inc products are sold.

There are significant numbers of retail outlets that sell a wide variety of Apple products. Therefore, it is very easy for the customers to access ipad2 from anywhere. For instance, there are very many Apple stores in the United States. There are also more than 300 Apple stores all over the world from which one can get this product (Apple Inc 2011).

Price
The price of product is also of great significance. It is important for an organization to decide on whether the product or service will either cover the costs of production only or give some allowance for profits. According to the law of demand, when the prices are high, the level of the quantity demanded is relatively lower.

On the other hand, when prices are low, the level of the quantity demanded is higher. It is also important to note that both the level of prices and sales are major determinant of the level of profits an organization makes. This clearly indicates that prices have an important role in marketing. If an organizations sets price levels which are beyond the level in the market, then it will more likely lose its customers to its competitors.

Prices can make an organization fail or perform well in its marketing (The Times 100. 2011). On the other hand, too low prices can dip an organization into losses. Therefore, an organization must be very keen in setting its prices. Prices play a significant role in the marketing process. According to Becatti (2007), pricing is one of the key factors in marketing.

Process plays a pivotal role in determining the realization of the organization’s objectives. However, the pricing is largely determined by the life cycle of the product in question as well as the objectives for the sales turnover. In addition, the pricing will also largely depend on the market share.

Apple Inc has an effective marketing strategy for its products. This has contributed in expanding its market share. The company has been providing consumer friendly prices which has helped in developing good relationship with its customers.

For instance, since the release of Ipad2 in March, the product has recorded a good performance in the market. Soon after the release of ipad2 in March, its price was cut by 5% in United Kingdom to $399 (Anonymous 2011). The company also promised even cheaper prices after increases in the value added tax. In other words, the company has applied all the necessary effort to ensure that it cuts the prices for the ipad2 as much as possible. This increases the attractiveness of the product hence maximizing the level of sales.

Promotion
Promotion is another important component in the marketing mix. It is through promotion that an organization is able to expose its service or product to the members of the public. Through promotion, an organization manages to increase the visibility of its product or service. This practice plays a pivotal role in marketing because customers cannot buy things they are not aware of. They should be informed in order to make appropriate decisions.

One of the main ways through which an organization can do this is through advertisement. Through promotion, an organization pushes its product into the market. An organization can do this through various ways like offering discounts for its product. This is one way of marketing its products in the market. By offering discounts, an organization may attract new customers and also retain the existing customers at the same time (Tuto2 2011).

Over the past, Apple recorded a good track of heavy and effective advertisement and promotion of its products across the world. This has helped the company to maintain a high level of sales for its products.

This product has been successfully marketed through internet advertisement (WebProNews 2011). This is one of the most effective marketing methods in terms of costs and the number of people it can reach. Ipad2 has also been advertised through TV which has also helped in selling the product.

Target market
In any marketing operations, it is important to identify the target market for a particular product or service. A target market can be viewed as a group of customers having similar wants and needs (Moehlman 2010). Identification of the target market plays an important role in organization’s marketing operations because it helps an organization in developing an offering for the parts of the market which they can best serve. This identification is also very important because it helps in reducing operational expenses in an organization.

Market segmentation is an important stage because it forms the basis for the target marketing. Market segmentation involves the characteristics of a certain consumer group which affects their purchasing behavior for a certain product. One form of market segmentation is the geographic segmentation.

This is the form of market segmentation which involves the aspects related to the geography. Some of the geographic variables which are useful in market segmentation are the market density, topography, population density in a region and climate.

Demographic segmentation on the other hand is based on the social characteristics of a certain population for instance in a certain market. Some of the most important variables necessary in the marketing process involve the income, occupation, ethnicity, Education, age and the social class. These variables play a pivotal role in the marketing process.

Psychographic segmentation is a method of market segmentation which involves aspects like the motives, lifestyles or personality attributes. This form of segmentation seeks to segment the market based on how people live their life. These may be determined by such things like the most preferred forms of entertainment.

Apple products are used by a wide variety of people from different backgrounds and various demographic characteristics. The target market of the Apple iPads is mostly the prospective Amazon kindle owners (Cellfanatic not dated). One can access many things without necessarily firing up the laptop or desktop.

Reference List
Anonymous. 2011. Apple cuts UK iPad 2 prices by 5% to £399 and up – yet will make more profit. Web.

Apple Inc. 2011. Apple Retail Store. Web.

Becatti, F. 2007. Marketing Mix: Strategic Marketing Insight. Vol 25 Issue No. 7/8 I 2007 I R25. Web.

Cellfanatic n.d. Understanding the Target Audience for the Apple iPad. Web.

GJ56 2011. Review of the Apple ipad2. Web.

Mind Tools. 2011. The Marketing Mix and 4 Ps. Understanding how to position your market offering. Web.

Moehlman, M. 2010. Target Market. Canada: BeWrite Books LLC.

The Times 100. 2011. Marketing mix (Price, Place, Promotion, Product). Web.

Tuto2. 2011. Promotion – introduction to the promotional mix. Web.

WebProNews.2011. Internet Marketing and Online Business. Web.

Marketing Essay

by admin | Mar 20, 2023 | Uncategorized

Marketing Management and Strategies Essay
Marketing Management
Marketing management is a procedure whereby people/groups produce and exchange good with others to fulfil their needs. Kotler (2002) defines marketing management as the “art of selling products” (p. 4). The aim of marketing management is to collect information relating to the tastes and preferences of consumers and creating goods that satisfy their needs.

Market segmentation entails classifying consumers according to their behavioural and economic characteristics. The firm then creates a market offering for the selected segment. For instance, the Volvo Company markets its automobiles to shoppers who value automobile safety (Kotler, 2002, p. 4).

Market Orientation
Market orientation is defined in terms of the behavioural and cultural approaches. Market orientation is a process of generating information relating to the present and future needs of shoppers and then distributing it across relevant departments (behavioural approach).

In other words, market orientation emphasizes organizational actions pertaining to the production, distribution and receptiveness of market information (Inoguchi, 2011, p. 201).

It also refers to an organizational culture which promotes activities that result in the production of high-quality products (cultural approach). Thus, it focuses on the values and norms of an organization that promote the production, distribution and receptiveness of market information.

Market Orientation and Management of an organisation
Market segmentation entails classifying consumers according to their economic and demographic characteristics. For instance, when Estee Lauder discovered that the income per capita of the minority groups had improved, it introduced an “all Skins” line consisting of 115 shades of various skin tones in the market. As a result, the company achieved a 45% increase in the sales volume (Kotler, 2002, p. 12).

Medium-sized companies have also adopted marketing orientation. For instance, 241 CO is a Japanese firm that manufactures apparel products. The company communicates with shoppers on a regular basis to generate market information regarding their tastes and preferences (Inoguchi, 2011, p. 206).

Strategy and Strategic Planning
A strategy refers to a plan of action. Therefore, strategic planning is a general plan that augments the proper management of a process. In business terms, strategic planning is defined as the process of creating a business plan with the aim of making profit. A strategic plan enables a company to gain knowledge about the environment it operates in.

It also analyses the shortcomings of previous business practices and suggests alternative ways of doing business. For example, a strategic plan explicates the steps that a firm must take to enhance consumer satisfaction and improve profitability (Ward, 1988, p. 192).

Strategic Decisions in a Marketing Context
According to Papadakis et al. (1998), strategic decisions refer to a series of routes or steps adopted by the management to realize a particular goal (p. 116). Strategic decision-making evaluates the procedure adopted by the management to achieve a specific goal. It is usually determined by several factors such as hierarchical decentralization and lateral communication.

These approaches are also associated with the contextual characteristics (i.e. Market characteristics), attributes of senior managers, and decision-specific characteristics. However, a decision – specific aspect is the most influential factor in strategic decision-making (Papadakis et al., 1998, p. 115).

Strategy, Planning, Strategic Marketing Decisions at Coca-Cola Company
Strategic decision-making is an important process that enables a firm to realize specific goals. Thus, moribund marketing decisions may result in poor performance. For example, the Coca-Cola Company experienced a decline in the sales volume in 1980s when it introduced New Coke in the market to replace the original Coke.

The loss was caused by poor market research which failed to capture the emotional attachment and symbolic value of the original Coke to consumers. In addition, the market research did not incorporate key variables relating to the spending behaviour of consumers (Smith & Albaum, 2010, p. 8).

References
Inoguchi, J. (2011). Implementation of Market Orientation in Small Sized Company: Case Study on a Japanese Apparel Manufacturer. Int. J. Emerg. SCI, 1 (3), 200-210.

Kotler, P. (2002). Marketing Management: Millennium Edition (10th ed.). Upper Saddle River, New Jersey: Prentice-Hall, Inc.

Papadakis, V., Lioukas, S., & Chambers, D. (1998). Strategic Decision-Making Processes: The Role of Management and Context. Strategic Management Journal, 19 (2), 115-147.

Smith, M., & Albaum, S. (2010). An Introduction to Marketing Research. Mexico City: University of Mexico.

Ward, L. (1988). The Special Role of Strategic Planning for Family Businesses. The Best of FBR II, 1 (2) 190-195.