Definition and Examples of Aphesis

Aphesis is the gradual loss of a short unstressed vowel at the beginning of a word. Adjective: aphetic. Aphesis is commonly regarded as a type of aphaeresis. Compare with apocope and syncope. The opposite of aphesis is prothesis. Generally speaking, aphesis is more common in everyday speech than in formal varieties of spoken and written English. Nonetheless, many aphetic word forms have entered the vocabulary of Standard English. In International English Usage (2005), Todd and Hancock observe that while clipping tends to be rapid and usually applies to the loss of more than one syllable,  aphesis is thought to be a gradual process.   See Examples and Observations below. Also see: AphaeresisClippingEllipsisMetaplasmSound Change EtymologyFrom the Greek, to let go Examples and Observations Cute is an aphetic form of acute; longshore is the truncated form of alongshore. This explains the American usage longshoreman for our [Australian] stevedore. Stevedore is itself an aphetic adaptation of the Spanish estivador, which derives from estivar: to stow a cargo.Likewise, sample is an aphetic form of example; backward is an aphetic form of abackward; and vanguard was once avauntguard, from which avant-garde also derives.Ninny is an aphetic and abbreviated form of an innocent. More recently, we have squire from esquire, specially for especially. In the language of the law, several ambiguous forms survive: vow and avow; void and avoid.(Julian Burnside, Word Watching. Thunders Mouth Press, 2004)The Aphetic  Way as an Intensifier- [As an adverb and intensifier] way is an aphetic form of away; it used to be printed way with an apostrophe, but is rarely so today. It means a great distance or all the way, as in We were way off the mark and We went way to the end of the trolley lin e. Some dictionaries consider this adverbial way colloquial, and indeed it often has a conversational or informal tone, but others consider it appropriate for use at all levels except the most formal or oratorical. It also frequently functions conversationally as an intensifier, as in She was way underprepared for the assignment and the student slang exclamations Way out! Way cool! and the like.(Kenneth G. Wilson,  The Columbia Guide to Standard American English. Columbia University Press, 1993)- I was tired—way tired. I had been on the road—on the run—I dont know—several weeks—a long time.(Andrew Klavan, The Long Way Home. Thomas Nelson, 2010)-  Im really  way too lazy  to try to locate all those ingredients.(Sarah Mlynowski,  Frogs and French Kisses. Delacorte, 2006)-  Ã‚  The widespread, if witless, use of way to mean much or far, very or especially reveals how people favor simplicity over precision, easiness over elegance, popularit y over individuality. Its unacceptable to use this sense of way in your writing, and its unbecoming in your speaking.(Robert Hartwell Fiske,  Robert Hartwell Fiskes Dictionary of Unendurable English. Scribner, 2011)An Aphetic Verbal DoppelgangerDavid Brinkley welcomed Vice President Al Gore on his Sunday morning ABC program with a cordial Thank you for coming. Mr. Gore--as so many guests now do--answered with the aphetic thank you with a slight emphasis on the you.Youre welcome used to be the standard response to thank you, writes Daniel Kocan of Orlando, Fla. Now thank you is the stock response to thank you. Since when, and why? Can you explain this recent doppelganger phenomenon?First to doppelganger: this is from the German for the ghostly double of a living person, and is an apt description of the returned thank you. Next to the aphetic, or shortening of words or phrases by the elimination of the unstressed word or syllable: the I is lost in I thank you.(William Safire, On Lan guage: Let Er Rip. The New York Times, November 28, 1993) Pronunciation: AFF-i-sis Also Known As: aphaeresis, apherisis

Competitive Strategies of Honda Corporation - 3233 Words

HRM 3003 Strategic Management Assignment Title: Honda Corporation Student ID: 0808174 Submission Date: 18th Nov 2011 Tutor: Shanthi Rajan Introduction In the modern corporate culture the level of competition is increasing day by day. The main objective of each organization is to enhance its performance and to attain sustainable competitive advantage in relation to its competitors. Change is a constant in present corporate culture. In such changing environment having a single strategy is not enough for organizations success. To attain sustainable competitive advantage the organizations try to adopt strategies better than their competitors. Organizations strategies help them to achieve a different and unique place in market. Only†¦show more content†¦Collis amp; Rukstad (2008) stated that, â€Å"A strategy statement must begin with a definition of the end that the strategy is designed to achieve. â€Å"If you don’t know where you are going, any road will get you there† is the appropriate maxim here†. While formulating objective the organization should not only focus on the end result but it should also t ry to frame the time limit for achieving it. Objectives are also formulated at two level; short-term objectives and long-term objectives. Mostly the organizations focus only on short-term objectives as they are easy to achieve. For organization it is of equal importance to focus on long-term objectives as well. Martella (2001) defined long range objectives (long-term objectives) as, â€Å"The process by which the leaders of an organization determine what the organization wants to look like at the end of a specified period of time – usually three to five years – then use that vision to establish multi-year goals and objectives which describe what the organization wishes to accomplish, and develop programs, tasks, and timelines for achieving them†. As the long-term objective takes more time to accomplish and to pay off, hence managers least focus on it. Long-term objectives can be referred as organizations goals that determine their true strengths. The long-term p lanning helps the organization to predict the futureShow MoreRelatedSwot Analysis Of Honda1603 Words   |  7 PagesHonda has continued to embrace the changes that happen around its operations to ensure sustainability and profitability. The current global motorcycle manufacturing sector is full of competition. It, therefore, becomes crucial for every manufacturer to evaluate their strengths and weaknesses and then identify the opportunities to exploit to gain competitive advantage. Honda is Japanese based automobile company; it has numerous subsidiaries in Asia, Europe, and North America. Due to the advancementsRead MoreHonda Vietnam1218 Words   |  5 Pagesa talk about Honda- one of the famous motorcycle brand- names in Viet Nam. There are 7 parts in our presentation: 1-Introduction to Honda Vietnam 2-Vietnam’s potential powers for developing motorcycle industry 3-The distribution of Honda Heads 4-Prices 5- Case: Price of Honda Vietnam vs Honda Thailand motorcycle 6-Competitive abilities of Honda verse other firms 7-Development since establishment 1-Introduction to Honda Vietnam name:  Honda Vietnam Corporation. Honda Vietnam CorporationRead MoreEssay about International Strategic Management857 Words   |  4 PagesInternational Strategic Management Strategy is usually related and sometimes confused by people with planning. But as time course shows in the study of companies, there are different approaches of how a company can develop its strategy. Johnson, and Shcoles, in their book â€Å"Exploring Corporate Strategy† had studied the different ways that companies develop their strategy. The authors had formulated and structured three general ways how companies build it, there are: the design, experience andRead MoreToyota s Current Supply Management Strategy1223 Words   |  5 PagesINTM 543: Purchasing: Viren Kheni Assignment 5: Honda Motors Case How does Mr. Honda’s history with suppliers relate to Honda’s current supply management strategy? Honda’s current supply chain management strategy reflects Honda’s long-term goal of manufacturing products where they are sold, and its determination of buying parts where it manufactures vehicles. †¢ Increased local content is due largely to purchases Honda makes from many of the other 3 Japanese automobile firms that were establishedRead MoreToyota Motor Corporation: Analysis1253 Words   |  5 Pages External Analysis of Toyota Motor Corporation Introduction Automotive industry is one of the most competitive, profitable, and fastest growing industries of the world. The uncertainties and challenges present in the external environment enforce them to think beyond their limitations, take risks, and make decisions in strategic perspective (Kurtz Boone, 2011). Toyota Motor Corporation is one of the top market leaders in the automobile industry of the world with respect to the scale of operationsRead MoreHarley Davidson Case Analysis1201 Words   |  5 PagesINTERNAL ENVIRONMENT: STRENGTHS AND WEAKNESSES (SWOT) A. Corporate Structure 1. How is the corporation structured at present? a) Is the decision-making authority centralized around one group or decentralized to many units? The decision-making authority is decentralized around domestic and foreign operations. b) Is the corporation organized on the basis of functions, projects, geography, or some combination of these? Read MoreThe Honda Effect Case Study1579 Words   |  7 PagesIntroduction Honda is a Japan based company and is the world’s largest manufacturer of motorcycles as well as the world’s manufacturer of motor vehicles, producing more than 14 million internal motor vehicles each year. The Honda Motor Company was founded by Soichiro Honda in 1948. In 1959, he opened the American Honda Motor Company, so he could fulfil his dream of building a high performance motorcycle and marketing it globally. The discussion below briefly emphasises on the strategy used by Honda to gainRead MoreThe Five Competitive Strategies For Wal Mart1540 Words   |  7 Pages Five Competitive Strategies The five generic competitive strategies are low-cost provider, broad differentiation, focused low-cost, focused differentiation strategy, and best-cost provider strategy. According to the textbook, â€Å"a company’s competitive strategy deals exclusively with the specifics of management’s game plan for competing successfully† (Gamble, 93). The main objective of a low-cost provider is to achieve a lower overall cost than its main competitors and rivals by means of underpricingRead MoreEssay on Critique Analysis of Crafting Strategy1514 Words   |  7 PagesA Critical Review Of Crafting Strategy - Henry Mintzberg Table Of Contents Introduction ............................................................................................. 2 Wider Debate Of Strategy .................................................................. 2 Placing The Article In The Wider Debate.................................... 4 Strengths Weaknesses of the article......................................... 4 Conclusion...................................................Read MoreHonda Entry Into Us Market1529 Words   |  7 Pagesmotorcycle market? In the late 1950’s Honda contemplated a bold move: entering the motorbike market in the United States. Today, Honda is a dominant player in the US, selling a wide range of models in large numbers. But its start could not have been more improbable or less likely to succeed. It was only by staying flexible to an emerging understanding of what the problem and the opportunities were, that Honda succeeded in its long shot. Honda’s Native Success Honda had done well in its native Japan

Manchester United Ltd Free Essays

string(73) " a small railway team into one of the leading global brand in the world\." 1. 0 INTRODUCTION Whether, we realized it or not, from the moment we are brought in this world and growing up in our everyday live we are living in and going through a life a full of organization with a certain mission and goal to achieve. We can take something that is truly close to our heart as an organization, our dearest family. We will write a custom essay sample on Manchester United Ltd or any similar topic only for you Order Now A family has a systematic structure as an organization; we have our father who sit at the top and make most of the important decision, our mother who is second in command. And also their children who assist in accomplish the goal and purpose. Even thought this is just how I see a successful organization, but what is truly the meaning of organization thought the eye of a book. An organization defines as a systematic arrangement of people brought together to accomplish some specific purpose. A common characteristic of organization are have a distinct goal and purpose, comprise people working together to accomplish certain objectives, a systematic structure and an aim to serve the society. Through this assignment we are going to look into an organization of a company and look through all the characteristics in making them an organization. For my organization I have chosen Manchester United Football Club Limited as my choice of organization. Almost all part of the world, where ever you step your feet in this world people will recognize the global brand of Manchester United so this include them as one of the biggest organization in the world. The reason I choose Manchester United because of my passion for this club and my enthusiasm in football as a leading market in sport or maybe even the world. Other than that, Manchester United is also a perfect family oriented company, where their responsibilities is not just for the owner, director and staff but also to the supporters and fans of the club who gave almost everything to our beloved club. They have the obligate not just for the owner and director but also to the fans. MANCHESTER UNITED FOOTBALL CLUB LIMITED 2. 0 Introduction The club was formed as Newton Heath LYR F. C. in 1878 as the works team of the Lancashire and Yorkshire Railway depot at Newton Heath, changing its name to Manchester United in 1902. Prior to the 2005 takeover by the Glazer family the company had traded as Manchester United plc on the London Stock Exchange since 1991 and prior to flotation was registered as Manchester United Football Club Limited. Manchester United is one of the wealthiest and most widely supported football teams in the world. As of July 2011, the club is number one in Forbes magazine’s annual ranking of the world’s 50 most valuable sports teams, valued at $1. 86  billion. 2. 1 Nature of business Manchester United business revenues come in from mainly five sources: 1. Match-day Income (money made from home games through ticket sales and other match-day activities) 2. Broadcasting Rights 3. Commercial Tie-ups (sponsorships, etc) 4. Merchandise 5. Catering Manchester United main nature of business is football. Ticketing for Football matches play a big part in generating income for Manchester united. And with this Old Trafford was build to accommodate football matches for Manchester united. With Old Trafford’s having capacity boosted to 75,800. The crowds of about 250,000 should generate match day revenue of ? 2. 8m on each occasion, more than ? . 1m of that figure from corporate sales. And with match-day ticket prices having doubled since over the past few years, United can make a bulk of their earning through ticket sales. As we all know football match is play on television all around the world and Manchester United is not excluded from this. In England the Football Association is the one responsible in collectively sells TV rights for the E nglish football club. Because higher league placement results in a greater share of television rights, success on the field generates greater income for the club. Since the inception of the Premier League, Manchester United has received the largest share of the revenue generated from the  BSkyB  broadcasting United have also significantly income in their Commercial revenue, through sponsorship deals with AON and NIKE. Also the whopping ? 10m/yr training kit deal with DHL given that the AON deal for the jersey itself is ? 20m/yr. Manchester United has also consistently enjoyed the highest commercial income of any English club. The club’s commercial arm generated ? 51  million. A key sponsorship relationship is with sportswear company  Nike, who manage the club’s merchandising operation as part of a ? 03  million 13-year partnership established in 2002. Through  Manchester United Finance  and the club’s membership scheme,  One United, those with an affinity for the club can purchase a range of branded goods and services. Additionally, Manchester United-branded media services – such as the club’s dedicated television channel,  MUTV  Ã¢â‚¬â€œ have allowed the club to expand its fan base to those beyond the reach of its Old Trafford stadium. Other than that, the opening of red devils cafe at the stadium and around the world helps in exploring a new kind of business and also revenues. Figure 1. 1 Manchester United: Revenue source and percentages 2. 2 Country of origin. Manchester United was formed in Newton Heath, United Kingdom in 1878 as Newton Heath LYR Football Club by the Carriage and Wagon department of the  Lancashire and Yorkshire Railway depot. But the club changed its name to Manchester United in 1902 and moved to  Old Trafford, Greater Manchester, United Kingdom in 1910. 2. 3 How long has it been in business? Manchester United was formed is 1878 and it is still operating of as now. So the company have been in business for 134 years. . 4 How global is the company. Manchester United globalization is a very special one indeed. Football main customers in business are the fans, Manchester United is not just broaden England but across the world in that fact. But how did this happen? From a small railway team into one of the leading global brand in the world. You read "Manchester United Ltd" in category "Essay examples" It all started in 1956, Manchester  United  became the first English club to take part in the European cup, a competition that are watch all over the world, thru this showing the growth in the club and how it is started in becoming ore global and In 1968 Manchester  United  became the first English club to win the European cup and opening the eyes of people. Since that, Manchester United have been a hugely dominating force in the worlds scene, in England, in Europe, and ultimately around the world. Another reason is the ownership of the club. Manchester  United  generally tended to be owned by hundreds of shareholders, primarily from the UK and Ireland. However in 2005, after J. P. McManus  and John  Magnier (two Irish men) sold their shares in the club to Malcolm  Glazer he brought his stake in the club up to 75%, thus gaining control. Glazer is an American business tycoon, this contributed in the spread of Manchester United  to America. The globalization of Manchester  United  can certainly be seen through the companies that sponsor the club. Out of the 12 main sponsors of the club, not one is British, instead coming from America, Germany, Switzerland, Turkey, Russia, China, Korea, Malaysia and the Middle East. We can also see the globalization thru the squad Manchester united, out of 30 players, 17 are not from the UK, instead, coming from places such as Brazil, Portugal, Spain, Serbia and Bulgaria, amongst others. We take Park Ji Sung as an example, a Korean player. Park is a mega star in his home country and thus has increased Manchester United’s fan base significantly in Korea, and Asia. But there were other events that contribute to the Manchester United Globalization such as the Munich Air Disaster in 1958, were the Manchester united plane crash after a match in Munich. People felt sorry for the club and public heart was touched thus creating more fan base. 2. 5 Market values Estimated value: $1. 83 billion (? 1. 19 million) United have reaped the financial benefits of lucrative sponsorship deals with the likes of Nike and Aon, as well as a myriad of other income-generating endeavours such as their in-house television channel MUTV, which is currently beamed into over 190 million households worldwide to secure themselves an estimated global value of over $1. 8 billion (? 1. 1 billion). United are thought to have upwards of 333 million followers across the world, with a core contingent of 139 million supporters 2. 6 Top management of the company Owner: Glazer family via Red Football Shareholder Limited[136] * Honorary president:  Martin Edwards[137] Manchester United Limited * Co-chairmen:  Joel Glazer  Ã‚  Avram Glazer[138] * Chief executive:  David Gill[138] * Chief operating officer: Michael Bolingbroke[138] * Commercial director: Richard Arnold[139] * Chief of Staff: Ed Woodward[140] * Non-executive directors:  Bryan Glazer, Kevin Glazer, Edward Glazer Darcie Glazer[138] Manchester United Fo otball Club * Directors:  David Gill,  Michael Edelson,  Sir Bobby Charlton,  Maurice Watkins[140] * Club secretary:  John Alexander[141] Global ambassador:  Bryan Robson[142] Coaching and medical staff * Manager:  Sir Alex Ferguson[143] * Assistant manager:  Mike Phelan[144] * First team coach:  Rene Meulensteen[145] * Goalkeeping coach:  Eric Steele[146] * Fitness coach:  Tony Strudwick[147] * Reserve team manager:  Warren Joyce[148] 2. 7 Shareholders. Malcolm Glazer is a US based businessman who bought 100% of Manchester United PLC and delisted United from the London Stock Exchange in 2005, through a holding company called Red Football. The Glazers purchased their first share of Manchester United on 2 March 2003, spending around ?   million on a 2. 9% stake. On 26 September 2003, it was reported that he had increased his share to 3. 17%,  taking his shareholding above the 3%. By 20 October, he had increased his shareholding to 8. 93%,  and on 29 Nove mber it was reported that he owned around 15%. On 12 February 2004, Glazer increased his stake in the club to 16. 31% and the following day’s  Financial Times  reported that he had instructed  Commerzbank  to explore a takeover bid. Glazer increased his shareholding to over 19% the following June, although he was still not the largest shareholder. His shareholding continued to increase, nearing 30% by October 2004. Upon reaching 30%, Glazer would have to launch a formal takeover bid. On 12 May 2005, Glazer reached an agreement with  shareholders  J. P. McManus  and  John Magnier  to purchase their 28. 7% stake in the team, giving him a controlling stake with just under 57% of the team’s shares. He then managed to secure the stake of the third largest stakeholder, Scottish mining entrepreneur Harry Dobson, taking his share to 62% of the club. Just hours later, Glazer had bought a further 9. 8% stake taking his total ownership to 71. 8%. On 16 May 2005, Glazer took his shareholding in Manchester United to 75%, allowing him to end the club’s  public limited company  (PLC) status and delist it from the  London Stock Exchange, which he did on 22 June. On 14 June 2005, Glazer successfully increased his share in the club to 97. 3%, sufficient for full control. On 28 June, he increased his share to 98%, enough for a compulsory buyout of all remaining shareholders. The final valuation of the club was almost ? 800  million. 2. 8 Stakeholders Manchester United has a number of stakeholders. Stakeholders are an individual or group with a direct interest in an organisations performance. The main stakeholders are the employees, owners, customers, suppliers, financer, fans and the local community. Manchester United employees apart from the football players also consist of   employees that are responsible in sales, marketing, communication, human resources and finance. These departments exist in football clubs as well as in traditional companies. From the employees their main interests are to get pay rises and to get better training, the team players for example want better training so they can perform better and more effectively. The fans main interests are, that Manchester United play good games, watch good players and win as much possible, and the owners get more profit. The main interests of the financers, example the sponsors wants to make sure there brand name gets advertised and their company logo is seen on the players shirts, they also want a team that wins the matches so that their company can be associated with a winning champion team. The suppliers are also stakeholders and their main interests are that Manchester united keep-purchasing products from them so they will be making lots of profits. . 9 Corporate Social Responsibilities. The Club’s mission is to be the best football club in the world, both on and off the pitch. It also believes that Manchester United should be a part of the community in the widest sense and that its success should not only be measured in the number of trophies it wins, but also by the impact it has on the community in which it exists. Manchester United as it has taken great strides towards achieving a number of off-field goals which have supported its ambition to be a socially integrated and responsible organisation. Manchester United is committed to tackling environmental and social issues at regional, national and international level, using the Manchester United brand to leverage support and create awareness of the issues facing the planet. Here is some of Manchester United CSR program: 1. Hub of the Community: Hub schools are based in secondary schools within Partington, Wythenshawe and Salford. Each has up to 12 feeder primary schools and the structure of the programme allows for a long term relationship to be developed. The participants benefit from consistent provision with sessions being delivered both within and in addition to the curriculum. . Something to Chew On: An interactive project aimed at teaching 7-8 year olds about their own health and wellbeing. 3. Premier Men’s Health: Aims to use football to deliver key messages about health and encourage men over 18 to lead a healthier lifestyle. 4. KICKZ: The Foundation has run KICKZ since 2006. The project uses the power of footbal l and the appeal of the Manchester United brand to target hard to reach and challenging communities. The project aims to create safer, stronger and more respectful communities by developing young people’s potential. 5. Girls Centre of Excellence: The Manchester United Foundation Girl’s FA Centre of Excellence aims to provide opportunities for girls to play at the highest level, with the eventual view of developing them into international players. 6. Disability Centre of Excellence: The Foundation runs a Centre of Excellence for disabled players in partnership with the Manchester FA, with the specific aim of developing the more talented players from the Ability Counts leagues into the national squads. 2. 10 Employees Being successful off the pitch as well as on it requires Manchester United to have employees who are as committed to the success of the company. Manchester United currently employing around 505 people including manager, backroom staff and players. 3. 0 Conclusion Manchester United can be proud of every achievement that came in their way. Started from only a railway football team that focus just to play some football into one of the biggest football team, company and brand in the world. The dedication and spirit of the players and community to see their team perform at the highest level is truly something to be wandered, although have nothing to gain from it just pride that came in their mind. From the management of the company to the staff and players, they all made this happen. Without the performance of the football player in the pitch, the organization of the backroom staff and also the fans all of this cannot be achieve, Manchester United is truly a one united company. As conclusion, of course if given an opportunity to work with them it will be a big pleasure. Although not as a footballer but as Director or Head of Marketing Strategy ( Asia) will be an honour for myself. How to cite Manchester United Ltd, Essay examples

Alternative Dispute Resolution System †MyAssignmenthelp.com

Question: Discuss about the Alternative Dispute Resolution System. Answer: Introduction: In any organisation, it is important that the management comprehends and foresee the risks that are associated with the business carried out by the organisation. In general, risks imply loss and if an organisation were capable of turning the loss into a chance, it would be able to avert or diminish such risks completely (Glendon, Clarke and McKenna 2016). In order to diminish or avoid the risks that are associated with any business, it is imperative that the organisation adopts a risk management process. Risk management process requires that while carrying out the business, the management must consider and cautiously assess the situations and the scenarios that may and/or is likely to occur in the future. The risk management process of any organisation enables the management to recognise the risks associated with the nature of business operations carried out by the organisation and provides opportunity to reduce or evade the negative impact of such risks upon the organisation. In the given scenario, in order to enable the business to run smoothly during the project, the entire work has been divided into pre-construction stage and construction stage. The scope of the project during the pre-construction stage includes setting up works related to documentation that include grants and endorsements; scheduling and planning number of exercises. The scope further includes protecting any work related to pounding and digging and a guarantee of employing experienced staffs. During the construction stage, the scope of the project includes extension of the existing building for upgrading the same; to develop the building in a sheltered way and build the structure according to the plan. The scope further includes that the development of the building must be completed within stipulated time and the development is executed under safe condition as per the planned contract. As mentioned earlier, risk management is an essential element in any organisation and identification of risk is considered one of the most crucial procedures in risk management. In the event, the management of the organisation is unable to recognise the risks associated with the business, it would not be easy for the organisation to mitigate or evade such risks. The identification or recognition of business risks is fundamental, as unidentified risks cannot be treated in a rational manner (McGregor and Smit 2017). The construction industry includes various sources of risks such as availability, quality and expenses of the labour, subcontractors; construction delay, cash flow condition of the contractors and external influences. The construction industry includes certain inherent risks, which may arise owing to the unforeseeable nature of the industry. In the given case, the inherent risks that are likely to arise from both the pre-construction and the construction phase of the project are relatrred to the enumerated factors: Workers Engineering Statutory legislations Construction or development plan Development schedule Business operations Workers- the contractor is responsible to deal with or avoid any form of risks that may likely arise with respect to the workers engaged in the development project. The contractor is under statutory obligation to employ such workers who have adequate skills and suffuicient experience in the nature of work for which they have been employed in the construction project. The contractor must ensure that there is an effective collective bargaining between the workers and the contractors relating to their wage and the nature of work that is expected of them to do (Grey 2014). An ineffective collective bargaining may give rise to ethical issues as the workers may declare strikes or stoppage of work and cause unnecessary disruption (Sadgrove 2016). The workers may stop working owing to their discontentment regarding the progress of the project. If the workers are contented with the wage rate and the nature of work, they may cause disruption. Hence, the contractors are best able to handle such a situation and so the contractor must deal with such issues wisely and cautiously. Engineering- the engineer and the architect are responsible to prepare an effective development plan based on which the construction project is carried out. The developer of the construction project must exercise reasonable standard of care while working on the project. The must be cautious about any flaw in the construction plan and in the event any such shortcoming is detected, it is expected from the engineers and the architects to analyse the defect and deal with it effectively by exhibiting their skill and diligence (McNeil, Frey and Embrechts 2015). The inherent risk associated with this factor that there is a probability that the engineers and the architects may get involved in some malpractices and cause damage or loss to the construction project on the ground that they are entitled to relatively petite share of a project with an unlimited liability. Therefore, the owner of the project must ensure that the participants of the construction project are financially protected and may prepare some mutual indemnification for the participants. Statutory legislation- the construction project is regulated by the following relevant legislations: Building Act 1993; Competition and Consumer Act 2010; Corporation Act 2000; Planning and Environmental Act 1987; Building and construction Industry Security of Payment Act 2002; Victorian Civil and Administrative Tribunal Act 1998; Information Act 2000 and Goods and Service Tax Act 1999 The risks that are associated with the pre-construction and the construction stage of the project phase may be related to the inconsistency with the statutes that regulates the project. The engineer is responsible to ensure that the development project is being carried out in accordance to the relevant legislations. Construction or development plan- the contractor is accountable for any risks that are connected with the development plan. The contractor is best able to deal with the risks that may likely arise out of the construction plan structured by the engineer and the architect. The decisions with respect to the methods of implementing the construction plan are left to the contractor of the construction plan (Ball 2014). Therefore, before engaging the contractor with tye development plan, the management must ensure to distinguish between the risks that are possible for the contractor to handle and those risks, which are beyond the control of the contractors. Development schedule- the scope of the project at the construction stage includes that the project must be completed within stipulated time. The participants of the construction project are statutorily obligated to complete the project within the stipulated schedule. The contractor must ensure that the work is completed as per the schedule and the project is handled in a cost-effective manner. The inherent risks related to the construction projects shall result in purchasing of poor quality products and the architects and engineers will have to rush into the construction, which might give rise to deficiency in the construction project. Therefore a reasonable and an adequate schedule must be framed in order to complete the project appropriately. Business Operations- the nature of the construction industry is very complex and it easily becomes subject to unnecessary disputes. The inherent risks included in the business operations may take place from the very inception of the construction project. The site of the project may be different from the site that was imagined. It is highly imperative that the management identifies the risk and deal with the same effectively in order to enable the participants to complete the construction in accordance with the construction plan and within stipulated time (Taroun 2014). In addition to the above-mentioned inherent risks, the construction industry is prone to another vital risk that is, issues related to safety and health environment in the workplace. The contractors, being accountable for the workers engaged in the construction work, must ensure that the workers are aware of the safety rules and are acting in compliance of the safety rules applicable in the workplace. Dispute Resolution Since the nature of the construction industry is fragment and complicated, in case of disputes arising from the project, the parties to the dispute may resort to litigation. However, it is a well-known fact that litigation process is not only time consuming but it also involves huge amount of expenses (Fiadjoe 2013). Consequently, a number of dispute resolution processes have been introduced in the construction industry to relive the parties to the dispute from the lengthy and expensive court proceedings. The different forms of alternative dispute resolution processes include mediation, arbitration, expert determination and conciliation. Mediation is the process where a third party shall be appointed who would address the issues between the parties to the dispute and act as a mediator to resolve the dispute. However, either parties to the dispute may or may not agree with the mediators decision. In this case, the expert determination process may be used as a dispute resolution process to address the issues and resolve the same. This process may used to deal with the inherent risks that may arise during the pre construction and the construction stage (Menkel 2015). The expert determination process is usually used to resolve issues that are related to valuation. In th even of any dispute arising out of valuation with respect to the construction, the expert may determine the same and the decision of the expert shall be binding upon the parties to the dispute. However, this dispute process is economic but the decision of eth expert cannot be enforced without further court proceedings. In the given context, I would prefer the arbitration process of dispute resolution. Arbitration is the process where the parties to the dispute may consensually appoint an arbitrator to resolve the dispute (Pryor 2016). The parties are at liberty to select an arbitrator who is not only qualified but also adequately experienced in the field of arbitration. The arbitrator shall resolve the issues based on the legal principles and material facts of the matter in dipute. Further, this process in economic and less time consuming, thus it would enable to resolve the issues more quickly as compared to the litigation process. Further, the decision of the arbitrator shall be unbiased and impartial by nature, which implies that issues shall be dealt with on fair terms. Furthermore, the decision of the arbitrator shall be binding and enforceable at law and it ensures legal compliance with the statutes as the decision is based on the relevant legal principles. Reference List Ball, M., 2014.Rebuilding Construction (Routledge Revivals): Economic Change in the British Construction Industry. Routledge. Fiadjoe, A., 2013.Alternative dispute resolution: a developing world perspective. Routledge. Glendon, A.I., Clarke, S. and McKenna, E., 2016.Human safety and risk management. Crc Press. Grey, S., 2014. Risk management deficiencies in the engineering sector (1048). InMastering Complex Projects Conference 2014(p. 473). Engineers Australia. McGregor, A. and Smit, J., 2017. Risk management: Human rights due diligence in corporate global supply chains.Governance Directions,69(1), p.16. McNeil, A.J., Frey, R. and Embrechts, P., 2015.Quantitative risk management: Concepts, techniques and tools. Princeton university press. Menkel-Meadow, C., 2015. Mediation, arbitration, and alternative dispute resolution (ADR). Pryor, W., 2016. Alternative Dispute Resolution.SMU L. Rev.,2, pp.3-517. Resolution, A.D., Making, A.D., Policy, C., Cooperation, C., Infrastructure, I.P., Platforms, M.S., Treaties, W.A., Magazine, W.I.P.O., by Unit, A., Reporting, F. and des Colombettes, C., 2013. Alternative dispute resolution. Sadgrove, K., 2016.The complete guide to business risk management. Routledge. Spencer, D. and Hardy, S., 2014.Dispute Resolution in Australia: cases, commentary and materials. Thomson Reuters. Taroun, A., 2014. Towards a better modelling and assessment of construction risk: Insights from a literature review.International Journal of Project Management,32(1), pp.101-115.