Human Management Practices At Japan, China, And South Korea

Every country has different management practices. They all have unique approaches that have been found to be the most adequate or efficient way in accomplishing specific objectives. We have heard the English terms culture, management terms, and business culture, which are commonly used business terms in America. Nonetheless, we don’t have much knowledge about international business terms. International business terms such as â€Å"wa†, â€Å"quanxi†, and â€Å" inhwa†, which are essential management terms in Japan, China, and South Korea. In this paper I will be analyzing my findings on the words culture, management terms, business culture, â€Å"wa†, â€Å"quanxi†, â€Å"inhwa†, what would be similar terms to describe American management practices, and if these terms sufficiently capture American management practices. Culture is a very broad word with multiple definitions. It can be defined as the knowledge, experience, beliefs, attitude and values passed from one generation to another. Culture can also be interpreted as a certain way of thinking and behavior that prevail in a place or organization. On the other hand, management is the act of controlling and most important making business decisions. Whereas term, is an expression used to indicate a concept in a specific kind of language or branch of study. If we combine the two words, management and terms, from the definition provided, the term refers to certain terminology used in the administration process of an organization/ entity. According to theShow MoreRelatedThe Competitive Worlds Growth Of A Business1456 Words   |  6 Pagesgreat extent. In case of few countries, namely Japan and South Korea, that initially functioned as Protectionist, looking after the domestic market, open their markets after WWII and adapted export driven attitude, since being endogenous can’t work well in small populated countries. South Korea proved to have a good model of how a low income country became high income country. 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Breast Cancer Invasive And Non Invasive - 2609 Words

Task 2 Breast Cancer Invasive/Non-invasive Most breast cancers are diagnosed when a tumour has grown from within a duct or lobule into the surrounding breast tissue. Some people are diagnosed when the cancerous cells are still within a duct or lobule. These are called carcinoma in situ, as no cancer cells have grown out from their original site. By looking at a sample of breast cancer tissue under a microscope the cancer can be graded: †¢Grade 1 - cancer cells are slow-growing and less aggressive. †¢Grade 2 †¢Grade 3 - cancer cells are fast-growing and more aggressive. Some breast cancer cells have receptors which allow certain types of hormones or proteins to attach to the cancer cell: †¢Hormones - testing on a sample of breast†¦show more content†¦The treatments used depend on: †¢The cancer itself - size, stage, grade, and whether it is hormone responsive or contains HER2 receptors †¢The patient - age, if they have been through menopause, general health and personal preferences for treatment. Surgery The types of operation which may be considered are: †¢Breast-conserving surgery - a lumpectomy is one type of operation where just the tumour and some surrounding breast tissue are removed. This aims to kill any cancer cells which may have been left in the breast tissue. It is common to have radiotherapy following this operation. †¢Removal of the affected breast (mastectomy) - this may be necessary if there is a large tumour or a tumour in the middle of the breast. †¢A sentinel lymph node biopsy - this is a way of assessing if the main lymph nodes draining the breast contain cancer. This helps to stage the disease accurately and to guide the specialist as to what treatment to advise following surgery. Radiotherapy Radiotherapy is a treatment which uses high-energy beams of radiation which are focused on cancerous tissue. This kills cancer cells, or stops cancer cells from multiplying. The types available are: †¢breast radiotherapy – after breast-conserving surgery, radiation is applied to the whole of the remaining breast tissue. †¢chest wall radiotherapy – after a mastectomy, radiotherapy is applied to the chest wall. †¢breast boost – some women may be offered a boost of

The EU Trade policy aims to develop both multilateral liberalization.. Free Essays

string(40) " EU industries to confront competition\." Introduction It is frequently said that the European Union ( E.U. ) is â€Å" an economic giant but a political midget † . We will write a custom essay sample on The EU Trade policy aims to develop both multilateral liberalization.. or any similar topic only for you Order Now If the 2nd statement seems controversial, the first 1 is verified. Indeed, the E.U. is a major trading power as it is the universe ‘s largest exporter ( 16.2 % of planetary exports[ 1 ]) and importer of goods and services, accounting for a fifth of universe trade[ 2 ]. The European Union has been developing its internal market since 1993 and the â€Å" Individual Market Program † . Following the rules of the GATT/WTO[ 3 ], which is â€Å" an organisation for liberalising trade †[ 4 ]as it is written on the web site, the E.U. has borrowed a broad rhetoric based on the aim of liberalisation. Associated with the neoclassical economic theory, the European liberalisation could be defined as an â€Å" unfastened market with free competition † ( art. 119 Lisbon Treaty ) , without obstructions or barriers to merchandise. Article 206 of the Lisbon Treaty underlines the importance of the part of the EU to the â€Å" development of universe trade † and to â€Å" the progressive abolishment of limitations on international trade † . The EU Trade policy, as a tool of entree to the liberalisation, is pursued by the Common Commercial Policy ( CCP ) , which has been a portion of the community competencies since the Treaty of Rome. The implicit in thought is that liberalisation of trade has brought and will convey economic benefits and growing[ 5 ], which is the first measure to a public assistance system and a peaceable society. The EU Trade policy aims to develop both many-sided liberalisation and regional integrating. The OECD defines the EU trade policy as: â€Å" Partially by necessity, partially by design, the EU ‘s trade policy has been ‘walking on two legs ‘ since its early yearss: many-sided liberalization and regional integrating. †[ 6 ]The Lisbon Treaty considered that the CCP â€Å" shall be conducted in the context of the rules and aims of the Union ‘s external action † . Therefore, the external dimension of the EU trade has effects on the SM as the internal policy interplays with advancement in the SM. Presents, the E.U has become an attractive economic pole of about 500 million consumers, developing intra-EU and extra-EU exchanges. However, this attraction, this â€Å" magnet † consequence ( S. McGuire ) , has provoked a defensive reaction from the Member States ( MS ) , fueling the demand to protect the SM from external competition.[ 7 ]The analogue of openness seems to be the containment of external menaces which can destabilise the SM and the whole European economic system. Many physical or administrative barriers still remain and the EU has even created new barriers as proficient 1s, linked to the alleged European values. If the EU is non a complete â€Å" fortress † , these obstructions are harmful and lead to circumvent universe trade understandings. In such a instance, the dealingss between Trade Policy and the liberalisation of the SM are neither systematic nor drone. Sensitive goods: Would all sectors be wholly liberalized? Duties and non-tariffs barriers to merchandise. The EU remains stigmatized for utilizing protectionist mechanisms for sectors such as agricultural merchandises and fabric and vesture. The EU is a chief user of subsidies, anti-dumping steps and voluntary export restraints ( VER ) in order to protect the alleged â€Å" sensitive sectors † which still remain a beginning of tenseness between WTO members. Indeed, the external dimension of the EU Trade policy convergences with the internal Common Agricultural Policy ( CAP ) . The CAP has been created in order to protect the internal European agricultural market, curtailing the market entree to EU trade spouses and lessening exports[ 8 ]. This policy was applied in the model defined by the Uruguay Round which created specific regulations for agricultural-food merchandises and textiles-clothing, leting high duties on some merchandises. Even if these regulations have been weakened by farther WTO statute law, the EU still applies a assortment of techniques. Price support and export subsidies Export subsidies have became the chief instrument of domestic monetary value support in Europe. The sugar sector is one of the most conclusive illustration, being a major receiver of subsidies. To call a few, Tereos Group ( France ) , Azucarera Ebro ( Spain ) , Krajowa Spolka Cukrowa ( Poland ) received severally about a‚ ¬178 million, a‚ ¬119.4 and a‚ ¬135 million in aid in 2009[ 9 ]. 1.5 billion per twelvemonth is spent on subsidizing sugar sector, as a monetary value of 632 euros per metric ton can be guaranteed to manufacturers[ 10 ]. It makes two times the universe monetary value. The EU is one of the important universe ‘s exporter of sugar Beta vulgaris ( EU was the first exporter before CAP reform[ 11 ]) even though its production cost is higher than in Brazil or Thailand. Besides, tariff barriers are still imposed on cane-sugar exporters. Harmonizing to this trade policy, 3rd states have a really restrictive entree to the EU market entree. Brazil , Thailand and Australia succeeded in conveying the instance to the WTO difference colony. WTO assessed that EU sugar exports were â€Å" up to four times more subsidies each twelvemonth than allowed under WTO understandings †[ 12 ], conflicting with the WTO agreemement on subsidies and offseting step ( SCM ) . To this extent, EU trade policy was regarded as protectionist, safeguarding the internal market from third-countries exportations. From the external dimension of the individual market, the chief end of liberalisation was non reached. On the other manus, internal integrating suffered trade recreation. These types of ordinances have created biaised competition and have merely permitted to large manufacturers who are capable of run intoing high criterions to come in the market, ensuing in a really restricted liberalisation[ 13 ]. Voluntary export limitations ( VER ) Export subsidies can be associated with voluntary export limitations. VER have been outlawed harmonizing to WTO regulations. However, it remains a tool of EU trade policy, utilizing as a barrier against the flow of Chinese fabric imports for illustration. VER are quantitative limitation as the celebrated illustration is the understanding for restriction of Chinese fabrics measure authorised on the EU market. China â€Å" voluntary † accepted to curtail its imports assisting EU industries to confront competition. You read "The EU Trade policy aims to develop both multilateral liberalization.." in category "Essay examples" Even if import quotas ended in December 2008 with the Multiple Fibre Arrangement ( MFA ) taking to farther liberalisation, VER are still used protectionist tools. Anti-dumping steps Harmonizing to the WTO web site, dumping â€Å" occurs when goods are exported at a monetary value less than their normal value, by and large intending they are exported for less than they are sold in the domestic market or third-country markets, or at less than production cost †[ 14 ]. Article 6 of GATT/WTO allows state to develop anti-dumping responsibilities ( ADD ) if unjust competition consequences from. But the EU circumvents the WTO model, utilizing arbitraly just trade regulations. The European Union uses the â€Å" Community involvement † to warrant the infliction of ADD which can last up to five old ages[ 15 ]. However, voices have risen against a protection maltreatment of these policies. The EU initiated 287 anti-dumping instances in ten old ages, between 1998 and 2008[ 16 ]. Harmonizing to L. Davis, â€Å" 59 % of instances have involved Asiatic exports, 22 % from China entirely † , particularly because of the higher competition in chemical and metal sector increasing with the development of Asiatic economic systems[ 17 ]. China is now the biggest manufacturer of washers and bolts and this led to enforce anti-dumping on its imports: for case, duties for steel and Fe fasteners are risen from 26.5 % to 85 % , as we can see on the pie chart below[ 18 ]. The developpment of anti-dumping instances underlines the â€Å" subsitution consequence † from duties to non-tarrifs barriers[ 19 ]. The rhetoric of liberalisation fells an implicit in protectionism. Beginning: L.Davis, â€Å" Ten old ages of anti-dumping in the EU: economic and political targeting † , Ecipe working paper, No. 02/2009. The policies applied to these sensitive sectors exemplifie what Professor M. Monti called â€Å" the ambivalent feeling ( of the EU ) about the external dimension of its individual market †[ 20 ]. Surely, harmonizing to B.-T. Hanson, it can be possible to liberalise the internal market associated with external protectionism. However, the chief end of EU trade policy is defined as liberalisation of the universe ‘s market. This contradiction between theory and facts is underlined by the indispensable controversial nature of the nexus between liberalising external trade policy and making a individual market for 27 states[ 21 ]. If what is frequently called â€Å" the Fortress Europe † does non be, inclinations to protectionism are still important in specifying EU trade policy. The statement of Pearce, Sutton and Batchelor in 1985 remains relevant: â€Å" Even if the European economic systems revive, and there is no rush in protectionism elsewhere in the universe, de ficiency of international fight will go on to bring forth force per unit area to protect some sectors in some or all member provinces. The disposition if authoritiess to give to these force per unit areas will likely non alter much †[ 22 ]. Then, if a weak nexus between EU trade policy and individual market liberalisation can be found, the part of EU trade policy to the liberalisation of the SM is non obvious and even seems an obstruction to farther external liberalisation. Discriminatory Trade Agreement The Union supports trade liberalisation through many-sided dialogues within the GATT/WTO, which are based on rule of non-discrimination. Beyond WTO model, the EU has signed legion bilateral understandings with states and regional organisations based on article 24 GATT. For illustration, the EU is presently negociating a Free Trade Area ( FTA ) understanding with ASEAN. EU creates its ain pyramid of penchants that divide its â€Å" trading spouses into friends, lesser friends and enemies †[ 23 ]. These understandings create different degrees of trade liberalisation. It can be deep integrating as it is established in Europe ( EEC ) or free trade understandings as with Mediterranean states. The EU has besides signed partnership understandings with many African, Caribbean and Pacific ( ACP ) states or has established Generalized System of duty Preferences for the poorest countries. â€Å"[ 24 ] In general they are called Preferential Trade Agreements ( PTA ) and can be defined as â€Å" a assortment of agreements that favour member parties over non-members by widening duty and other non-tariff penchants † .[ 25 ]Being of such discriminatory intervention can menace the liberalisation of planetary trade by doing trade recreation. Trade recreation exists because states within trading axis will instead merchandise between them even if the states outside the axis would hold a natural comparative advantage.[ 26 ]The most known instance of favoring the regional penchants was the Banana instance when the ACP states have enjoyed discriminatory entree to the EU market even if the manufacturers from Latin America were the cheapest. This caused a excess loss in economic footings. The SM undergoes external factors that limited complete liberalisation. However, the complex system of discriminatory trade policy does non ever have the lone position of trade liberalisation. As for illustration, under economic grounds are frequently concealed political 1s: protections of human rights or labor criterions travel beyond the pure trade issues[ 27 ]. These understandings are frequently asymmetric, between powerful EU and the development states, which is in a weaker economic and political place and can non truly enforce its demands. Trade policy can be seen as a tool of advancing development and assistance to hapless states as in the instance of ACP-EU Partnership understanding: â€Å" Everything but Arms † plan. The last 1 is a good illustration of understanding which in the name of â€Å" trade penchants is allowing zero-tariff entree to EU ‘s market for all merchandises from these states, except weaponries and weaponries, but in world the most competitory goods from these states as bananas or sugar are excluded from the trad e. †[ 28 ]The understandings of this type do non advance the benefits of farther liberalization to developing states, but are protecting their ain involvements.[ 29 ] The last controversial points about application of common commercial policy are non-trade values used by EU to protect internal market. EU values such as wellness, labor criterions, environment, rural development or cultural diverseness are grounds of curtailing the imports from other states.[ 30 ]We can mention to the prohibition on importing of meat from USA that is known to be treated with endocrines. EU argues that there are possible wellness hazards linked to immune system harm in kids.[ 31 ]Refering this issue we need to emphasize the importance of precautional rule which is defined by the Commission as â€Å" the precautional rule applies where scientific grounds is deficient, inconclusive or unsure and preliminary scientific rating indicates that there are sensible evidences for concern that the potentially unsafe effects on the environment, homo, animate being or works wellness may be inconsistent with the high degree of protection chosen by the EU † .[ 32 ]By utilizi ng this rule EU can curtail the importing of goods from its trading spouses on the footing of protection of consumers. Labour criterions and environmental protection are frequently used to condition the decision of bilateral or regional understandings. A «A The EU is steadfastly committed to advancing core labour criterions and nice work for all in its trade policy, and routinely includes cooperation enterprises and inducements to better working conditions in the trade understandings it negotiates.[ 33 ]A A » Servicess Servicess became a topic of international dialogues merely on the Uruguay Round ( 1986-1994 ) and resulted in the sign language of General Agreement on Trade in Services ( GATS ) . Members committed themselves to avoid any favoritism in the application of its criterions or standards for the mandate, licensing or enfranchisement of services providers and to non curtail trade in services[ 34 ]. Despite this declaration, â€Å" the liberalisation of services is still in its babyhood †[ 35 ]. Covering more than 70 % of EU ‘s GDP[ 36 ], services are instead secondary in its trade forms. Merely 20 % of services, produced in 27 Member States, are provided abroad ( including intra-trade )[ 37 ]. Szymon Bielecki, Sylvie Gori. EU27 international trade in services declined in 2009 following the oncoming of the planetary fiscal crisis. Eurostat Statistics in focal point. 37/2010, p. 4. Service liberalisation is non achieved even on the internal degree of the EU. Monopolies still exist in European states. For illustration, each national railroad company tends to continue dominant place on domestic market. It leads to tensenesss and competitory disadvantages for other possible providers, e.g. such a instance has late occurred between SNCF and DB for the entree to the Gallic web[ 38 ]. Regardless the acceptance of â€Å" Service Directive †[ 39 ], which aimed to advance the freedom to set up a concern in another MS and the freedom to supply services in other MS, the state of affairs with liberalisation of EU Trade in services did non alter significantly. This directive does non merely have considerable spreads in ordinance of legion services, but besides does non concern 3rd states[ 40 ]. The EU for good feels the deficiency of the cohesive trade policy in services. A divided service market is damaging for an economic system largely knowledge-based and service oriented. We should besides take into history the mutuality of services and thenceforth the negative knock-on consequence of barriers[ 41 ]. Technical barriers EU Trade Policy is closely related with other policies, which besides contribute to farther limitations. For case, the protection of the Intellectual Property Rights implies that both trading parties respect and protect rational rights. It resulted in the toughening of EU Customs ordinances[ 42 ]and in a creative activity of a list of precedence states in which state of affairs with IPR protection seems â€Å" the most damaging to EU fight †[ 43 ]. Other barriers are tax-related. The EU has a extremely disconnected revenue enhancement landscape that creates the loopholes for the dual revenue enhancement or revenue enhancement favoritism of consumers and companies. Another instance is the cross-border e-commerce, limited due to the differences in consumer protection regulations, regulations on VAT, recycling fees and levies[ 44 ]. The most dearly-won and hard to get the better of are administrative limitations. Harmonizing to EU jurisprudence a service â€Å" supplier † should hold its registered office, cardinal disposal or chief topographic point of concern within the Community[ 45 ], which about automatically extinguish any foreign provider from the domestic market. It prevents states or companies from â€Å" spread outing their end products in sectors where they have a comparative advantage †[ 46 ]. SMEs ( â€Å" the anchor of the European economic system †[ 47 ]) find themselves in even worse state of affairs than the large companies. The proportion between the antecedently mentioned costs and their size is so immense, that they can non every bit compete with domestic providers and will likely decline to supply cross-border services. â€Å" Now merely 8 % of SMEs are engaged in cross-border trade and merely 5 % have set up subordinates or joint ventures abroad †[ 48 ]. Harmoniz ing to the study, the most of import barriers for SMEs met in exporting are, to call a few, the establishing of a commercial presence abroad ( 16 % of all respondents ) , the deficiency of international criterions for services ( 14 % ) , revenue enhancement issues ( 10 % )[ 49 ]. These limitations have multiple negative effects. They cut down competition between domestic and foreign providers that cause higher monetary values and lower pick for consumers. There are still â€Å" losing links † or â€Å" constrictions † in the Single Market, which exists in theory, but, in world, it is constrained by multiple barriers and regulative obstructions[ 50 ]. Decision Despite the declared EU Single Market ends for the hereafter, such as â€Å" openness to planetary trade and investing † , â€Å" rejection of protectionism † , â€Å" the remotion of behind-the-border obstructions † and â€Å" greater attending to the international dimension †[ 51 ]in fixing the new ordinances, in pattern EU states resemble the half-open doors. By and large they have a free entryway, but the breadth of the transition varies well depending on the EU ‘s â€Å" pyramid of penchants † . the EU is frequently accused of holding an ambivalent attitude towards the GATT/WTO. Simultaneously it actively supports trade liberalisation via Rounds and the edifice up of a universe trade jurisprudence, but refuse to thoroughly implement it. Homes bias + province ‘s different policies. How to cite The EU Trade policy aims to develop both multilateral liberalization.., Essay examples

Comparative Study of Fuzzy Evidential

Question: Discuss about the Comparative Study of Fuzzy Evidential. Answer: Introduction: In every contract between two or more parties, the procurement section is one of the most sensitive parts in the contract that companies have to be keener and dedicated to. The strategy that is to be applied in the procurement section should be highly considered before implementation to ensure that it will in the best interest of the client party. Alliance procurement strategy would best work for the project. It is a strategy that gives the contractor to involve in the project earlier enough. Alliancing is applied in the cases where there is the management and procurement of major capital assets. The strategy appears to be the best for the complex projects that are associated with high risks and in the cases where the alternative strategies for the risk allocation are to be in effective. In the process of selecting the sub-contractors for a project, the main themes are to reduce the associated risks in the project while maximizing the quality and at the same time maintaining the rela tionship between the partners in the project. On normal cases, the associated problems in the selection and assessment as well as the alternative solutions appear to be limited. In the process when projects are to move through the phases in the management of the capital works, the knowledge of the project phases increases. In this case, alliance procurement strategy would best work for the project. It is a strategy that gives the contractor to involve in the project earlier enough. Alliancing is applied in the cases where there is the management and procurement of major capital assets. In the contracts using the alliance as their methods of procurement, it is seen that the state agency is working in collaboration with the private sector bodies so as to deliver the project (Aghaarabi et al 2014). The alliance is to be formed between the participants of the key project including the principal and the contractors. All the partners in the alliance are to bear a collective responsibility when it comes to the aspects of the delivery of the project. In the strategy, the partnership is structured in a way that the commercial risks and the rewards are shared in betwe en the alliance partners. The strategy appears to be the best for the complex projects that are associated with high risks and in the cases where the alternative strategies for the risk allocation are to be in effective. Among the reasons that leads to the selection of the alliance procurement strategy is due to the fact that the strategy the one used among the major large and more complex projects (Giri Nejadhashemi, 2014). The strategy is mainly applicable in the cases where there is an existence of large amounts of uncertainty and the issue of not being sure that is likely to result in the beneficial advantages in the arising cases of emergency situations. The size and the duration of the project, just as in this case, have to be in a position to justify the investment in the setting up of the project in both commercial and cultural settings (Molenaar, Anderson Schexnayder, 2010). The strategy is characterized by the number of the main features that are known to generally require the involved organs working together comfortably and conducive manner making the best out of the decisions made regarding the project. The risks associated with the projects under the alliance procurement strategy are believed to be jointly managed by the parties even though the financial effects are mainly left to the state. The main advantage associated with the alliance procurement strategy is that the project starts earl y before the risks can be identified where the client of the project is set to face the commercial risks associated in the process (Hajeeh Al-Othman, 2005). In the process of selecting the sub-contractors for a project, the main themes are to reduce the associated risks in the project while maximizing the quality and at the same time maintaining the relationship between the partners in the project. Some of the project owners are considering he costs as being the most important criteria to base their selection process although research recommends, and also to be used in this case, the multi-criteria selection process. Most of the sub-contractors and the project owners are never interested on the parties with low bid. Other criteria to be considered also exist and that includes the history of the reasonable bid price submissions. The section criterion indicates the specialization and the quality of the workmanship in a certain construction skill. The multi-criterion decision making is a tendering process that involves the making of decisions in the process of many and in most cases conflicting criteria. The problems involved in the process are always experienced in everyday life. The problems are seen to be complicated and huge. Although it is a selection process that is known and widespread in many contracts, it is a discipline that is more closely related to the rapid advancing in the computing and technology. Similarly, the advanced in technology and computing services has made it possible to solve and analyze the complex multiple criteria decision making problems. These technological advances have as well resulted in the bulk information making the process more significant and useful in the support offered to the decisions made in the business. There are two known types of problems associated with the MCDM that is as a result of the problem setting. One type is known as the finite number of solutions and the other one is the infinite number of solutions. On normal cases, the associated problems in the selection and assessment as well as the alternative solutions appear to be limited. In relation to the problems connected to the designs, the attributes are expected to take any values to the range. in any case the latter is the situation, the problem may them be termed as the objective optimization problems rather than the multiple attribute decisions problems (Hajkowicz Collins, 2007). In the process of managing a contract plan, one may choose to incorporate the key performance indicators that are to define the factors that the contract have to benchmark and monitor closely. The assessment methods are known to be offering mechanisms that are to be used in the measuring and the assessment of the factors that are defined in the process of the evaluation or the impact. The key performance indicators are known to specifying the things that are being measured as well as the assessment techniques that gives details on how and when the measurement would be conducted. The indicators are measures that are used to define and evaluate the manner organizations are successful. They incorporate the information on the sources, calculations and the definitions for all the measures setting out the timetable for the submissions of data. The performance indicators are known to be beneficial to organizations as they assist in defining and also measuring the progress towards the goals and objectives of an organization. Immediately the company has been taken through the analysis, the mission and goals there needs to be a measure of the progress towards the goals (Herath, 2004). The key performance indicators are used to measure a project and acknowledge that it is on track and that it is working in the right direction aimed at attaining the advantageous result. In most cases, the key performance indicators are normally used in measuring the service delivery. There exist many ways in which performance indicators can be made. They are quantifiable measurements that are seen reflecting on the success elements of the business. The performance indicators are only a single way of measuring and evaluating the initiatives of the project. The indicators are seen to be focused on the monitoring the activities of the project for the progress in the desired direction (Calvin 2011). They are not acting as substitutes for the other measurement and evaluation activities. The monitoring process that is done within the performance elements is able to provide certain important inputs to the impacts of the evaluation. It is unless the activities of the project are having a di rect and quantitative output and they do not in their own give the sufficient data evaluation. The normal and specific risks that are associated with the key performance indicators are that they might be giving illusion of the project. They monitor the activities and the quantifiable outputs they can as well be good at giving reports of the efforts by the project in tangible ways by using numbers and also trend lines although that are never substitute for the evaluation of the performances in relation t the positive acts of the company (Kamodkar Regulwar, 2014). Contract Management Contract management should be among the key principles a contracting party considers before issuing tenders. Outsourcing and offshore outsourcing has been known to be associated with many negative outcomes as observed in most projects and contracts. In this case, the sub-contractor ought to have been trained effectively and their efficiency and experiences be considered in the tendering process. A project is expected to run with the same discipline and planning as well as the system that is well run and implemented. The agreement should have been struck in the presence of lawyers to both parties or in the presence of legal authorities. With this the two companies would have an agreement on whom to bear the associated risks that may be caused by the late deliveries. Outsourcing and offshore outsourcing has been known to be associated with many negative outcomes as observed in most projects and contracts. The outsourcing of the contract for WNSL has had effects on the project. The strategies employed have to be proven effective although it is expected to be associated with significant risks that have to be recognized and managed with immediate and urgent actions. One of the cases that have to be looked at in the project is on the part of the on-time delivery performance and the satisfaction levels of the customer. The risks that could be associated because of the late delivery of services may cause severe risks on the products and services outsourced. The delays are caused by factors that may be out the control of the servicing company (De Jaln et al 2014). The other thing that was poor in the contract was the quality of the services issued. This is a key area that may cause negative effects on the customers in any contracts and should be conside red equally important rather than just focusing on finishing the contract on time. The latter is known to always need transition periods and parallel production and also effective cross training between companies. In this case, the sub-contractor ought to have been trained effectively and their efficiency and experiences be considered in the tendering process. These are the aspects that are often neglected because of the cost saving efforts and may cause serious risk challenges to the client part. Also the scheduling of the budget was poorly done in the contract and it might have been due to the insufficient planning or even limited resources. A project is expected to run with the same discipline and planning as well as the system that is well run and implemented. The suppliers also seemed to be having challenges in their financial viability that exposed their supplies through interruption risk. The company was at a risk of supply interruption because of the financial viability chal lenges faced by the sub-contractors (Pelletier, 2000). To ensure that the project runs smoothly and reaches a completion at the satisfaction of both the involved parties, there must be an agreement that will cater for the areas mentioned above to ensure effective contract delivery. One, considering the issue of the on time delivery, the companies would have had an agreement on the time the contract should have lasted. The agreement should have been struck in the presence of lawyers to both parties or in the presence of legal authorities. With this the two companies would have an agreement on whom to bear the associated risks that may be caused by the late deliveries. The contracting party would not bear or suffer the risks that are caused by the sub-contractor who chooses to delay in the delivery. The agreement should have the sub-contractor work to the best of their delivery to ensure that everything is completed within the agreed timeline (Gamini, 2004). Considering the issue of the quality of the services issued, the selection process should be keen to give the tender to companies that are well experiences and would not need to be reminded about the quality of work they offer to their clients. Before the tender is given to a company, the selection process should focus on the profiles to ensure that the company that is given the contract is good enough to offer these services. There should be a look at the reviews offered by other companies that have worked with the team before they are given any works to do. Another issue arises in the transition phase of the outsourcing session. It should be ensured that the transition is done within the budgeted limits to avoid interruption the contracts because of the cases of insufficient planning (Christos 2014). There should be a system that ensures that the outsourced services are running as scheduled and in the same discipline from the time of the implementation to the time of project comple tion. The production of the company as well as the service functions are expected to be having direct bearing on the companys ability to meet their commitment to the customers and the shareholders. Also, before allocating the company to work on any project, there must be a review on their financial status to ensure that they are financially viable and that they are I a position to offer their services in a comfortable manner without exposing the client to a supply interruption risk (Dwivedi Bhadauria, 2014). Conclusion In every contracts, there must be certain things to be considered that will make the contract efficient and effective. The strategy that is to be applied in the procurement section should be highly considered before implementation to ensure that it will in the best interest of the client party. Alliance procurement strategy would best work for the project. It is a strategy that gives the contractor to involve in the project earlier enough. In the process when projects are to move through the phases in the management of the capital works, the knowledge of the project phases increases. Among the reasons that leads to the selection of the alliance procurement strategy is due to the fact that the strategy the one used among the major large and more complex projects Contract management should be among the key principles a contracting party considers before issuing tenders. A project is expected to run with the same discipline and planning as well as the system that is well run and implemented. The strategies employed have to be proven effective although it is expected to be associated with significant risks that have to be recognized and managed with immediate and urgent actions. The production of the company as well as the service functions are expected to be having direct bearing on the companys ability to meet their commitment to the customers and the shareholders. References Aghaarabi E et al (2014) Comparative study of fuzzy evidential reasoning and fuzzy rule-based approaches: an illustration for water quality assessment in distribution networks. Stoch Env Res Risk Assess 28(3):655679 Calvin (2011) Fuzzy logic decision making. https://www.calvin.edu/*pribeiro/othrlnks/Fuzzy/ fuzzydecisions.htm Christos M (2014) Thinking platforms for smarter urban water systems: fusing technical and socioeconomic models and tools. 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