Benefits and limitation Essay Example | Topics and Well Written Essays - 500 words - 1

Benefits and limitation - Essay Example It is worth to note that health information system adoption constitutes benefits and limitations towards planning and implementation of hand hygiene compliance re-education program (Peter, 2010). Some of the benefits include health information system’s ability to enables access to comprehensive, legible, and organized patient data and reference literature at the point of healthcare service. This boosts compliance of the nurse as far as hand cleaning compliance is concerned. Health information system constitutes networked computers that are located in each exam room and physician’s office; a provider can also access data over the Internet which is effective in promoting re-education program. The main limitation concerns set-up and training. The time to set up and learn to use a system is often a challenge. However, users share common lists, data entry templates and text macros to decrease start-up time for users. This means that much time should be allocated at the beginning of the re-education program so that the nurses can master how to use the health information system. The planning must also constitute extensive outlay of the training shifts and adjustable time frame that allow for smooth transition from the paper charts to health information system (Carroll, 2009). The overall goal of adopting health information system is to improve on the compliance on hand hygiene which is the main cause of hospital acquired infections. Time is the central resource that will be taken into consideration when implementing the adoption of health information system (Peter, 2010). In the acute setting, the patient requires immediate attention and this puts significant pressure on the nurse. In this regard, it is appropriate to allocate much time in training the healthcare providers on how to apply health information system in hand hygiene compliance so that once they assigned a patient in ambulatory condition, it would be easy to work. Availability of

Fundamental Strategies Towards Sustainable Construction Construction Essay

Fundamental Strategies Towards Sustainable Construction Construction Essay Abstract- Since the construction industry has great impact on the environment, the consideration of sustainable development through sustainable construction is needed. Sustainable construction is a way for the building industry to move towards achieving sustainable development, taking into account the environmental, socio-economic and cultural issues. Specifically, it involves issues such as design and management of buildings, materials and building performance, energy and resource consumption. Therefore, sustainable construction provides solutions that require optimization all sort of environmental impacts since global warming is no longer a remote concept but a real threat to the future of mankind. This paper is review of sustainable practice in construction industry. Mixed methods of quantitative research by way of questionnaire survey and qualitative research using semi structured interview will be applied. For the first stage of data collection, the quantitative method will be a pplied to identify the barriers in implementing the sustainable construction. On the other hand, qualitative method will be used to produce strategies for the Malaysian construction participants to implement the sustainable construction. Interview session will be conducted among experienced professionals in construction industry in order to generate their opinion towards the implementation of sustainable construction in Malaysian construction industry. At the end of the research, discussion and recommendation will be covered, summarising the research content. This research is attempted to develop a framework policy of sustainable construction in Malaysia. A new strategies and guidelines seem to be part of the framework design. The framework derived from this research will be used as the criteria to benchmark the gaps in process and strategy for sustainable construction industry in order to capture good practices in terms of minimising environmental impacts and improve Malaysian read iness towards the sustainable issues. Keywords- Global warming, sustainable development, sustainable construction, environmental impact, policies Introduction The newly launched National Green Technology Policy in 2009 reflects Malaysian Governments seriousness in driving the message that clean and green is the way forward towards sustainable construction which will benefit current and future issues related to economic, social and environment and also quality of life. Such policy showed that government were seriously encouraged the efforts in tackling all related green issues in the country that complement the global vision on sustainable development. This research will be looking into the sustainable practices in Malaysian construction industry and will be focusing on the sustainable policy in other Asian countries such as Singapore, Thailand, Indonesia and Japan which very much active in Green Technology and sustainable projects. The reason for this is to show the gaps that should be filled in by the policy makers in order to catch up with the current developments that have been happening in other countries. The purpose of this paper is to disclose the overall structure of the research that is currently being undertaking by the researcher. Therefore, it is beyond the scope of this paper to discuss any findings from any of the research methodology adapted to date. PROBLEM STATEMENT Nowadays, one of the most pressing concerns for this industry is global warming which is an increase in the average temperature of the Earths atmosphere and oceans as a result of the buildup of greenhouse gases in the atmosphere [1]. Global warming, sometimes called climate change, is causing an increase in the earths near-surface temperature due to changes in the atmospheric composition. Many scientists believe recently observed global warming is partially caused by greenhouse gas emissions from energy production, transportation, industry and agriculture [2] (Oh and Chua, 2010; Radhi, 2009). In Malaysia, the major contributor of the greenhouse gas is carbon dioxide emissions and the trend has been increasing every year since 1982. The global carbon dioxide emission has risen significantly from 19,380 million tons in 1980 to 31,577 million tons in 2008. It is predicted that carbon dioxide emission will increase to 40 billion tons in year 2030 if no tremendous effort are thrown in to mitigate it [3-4]. In addition, according to Dato Sri Peter Chin Fah Kui Minister Of Energy, Green Technology And Water in his speech in the ASEAN Affairs and the Malaysia-Europe Forum, greenhouse gas emissions in Malaysia has increased substantially by 13% and 32% per GDP and per capita respectively between 1994 and 2000. Malaysian total greenhouse gas emissions increased by 55% in 2000 when compared with the 1994 levels. Furthermore, he stated that Malaysias emission of CO2 per capita which is about 7.1 tonne per capita was higher than the average for Asia Pacific of 2.6 tonne per capita based on the National Communications Report. Since global warming has emerged as the most serious environmental issues of our time and since sustainability becoming an important issue of economics and political debates worldwide therefore, it is vital important for Malaysian construction industry to further implement the sustainable construction which eliminates the negative impact on the construc tion industry. At present, Malaysia is a population with about 27.73 million covering area of 329,750 km2 based on the latest census in 2008 and the GDP grew at an average rate over 5.7% during the last 6 years [5]. As such, being a fast industrializing country, it is expected that an increased need for more houses, buildings and public infrastructure. Due to that matter, the government introduces the Sustainable Concept that can be applied to the construction industry to maintain the ecosystem and built environment as well. While standard building practices are guided by short term economic considerations, sustainable construction is based on best practices which emphasize long term affordability, quality and efficiency (Isover, 2009). Sustainable construction, which has inevitably been dubbed green construction, describes the responsibility of the construction industry in attaining sustainability (Nazirah, 2009). Besides that, sustainable construction aims at reducing the environmental impact of a building over its entire lifetime, while optimizing its economic viability and the comfort and safety of its occupants (Aguilar, 2008; Isover, 2009; PediaPress, 2009). Furthermore, sustainable construction is all about maintaining a balance between the human need for buildings for shelter and business operations and infrastructure for higher quality of well-being at one hand, and preserving natural resources and ecosystems, on which we and future generation depend at the other hand (Singh, 2007; Nazirah and Aini, 2010). As mentioned previously, sustainable construction is seen as a way for the construction industry to contribute to the effort to achieve sustainable development. However, in Malaysia, the green movement is still at low level where sustainable projects in Malaysia are mostly at the pioneer stage [6]. She pointed out that the modest number of sustainable projects being built in Malaysia is a sign of the slow intake of the sustainability concept among construction prac titioner. Thus, this indicates that the concerted efforts by the government, non-governmental and education institutions have not fully penetrated into construction activities. Looking the above statement, it can be conclude that there is still lack of effort in the application of the sustainable concept among construction practitioner and this scenario shown that it seems difficult for the Malaysian construction industry to further implement the sustainable construction. Thus, more efforts are needed and should be directed towards realising the green agenda of the industry to enhance the level of environmental awareness and civic consciousness among the people to build sustainably in the future. Therefore, this research will identify the barriers in implementing the sustainable construction in Malaysian Construction Industry. Government policies have been recognised as important instruments in driving the market for sustainable buildings [7]. At recent, the green technology promotion was further emphasized in the 9th Malaysia Plan (2006-2010). This indicate that government were seriously encouraged the efforts in tackling all related green issues in the country that complement the global vision on sustainable development. The establishment of the Ministry of Energy, Green Technology and Water to replace the Ministry of Energy, Communications and Multimedia in early 2009 reflects Malaysias seriousness in driving the message that clean and green is the way forward towards creating an economy that is based on sustainable solutions. The launch of the new National Green Technology Policy in April 2009 by the current Prime Minister, Datuk Seri Najib Tun Razak, shall provide guidance and create new opportunities for businesses and industries to impact on the economic growth positively. The National Green Technol ogy Policy is built on four pillars which are seek to attain energy independence and promote efficient utilization, conserve and minimize the impact on the environment, enhance the national economic development through the use of technology and improve the quality of life for all [8]. The National Policy on Environment seeks to integrate environment considerations into development activities to foster long-term economic growth and human development and to protect as well as enhancing the quality of environment. Thus, the National policy is seen as a major catalyst of the governments strategies in order to promote sustainable construction since sustainable construction is a way for the building industry to move towards achieving sustainable development. More strategies and actions should be pursued actively to speed up the process in creating sustainable oriented construction industry which is paramount towards building a sustainable future. Therefore, this research is an attempt to address the issues of sustainable construction and what approaches needs to be implemented for sustainable construction in Malaysia. THE EMERGENCE OF SUSTAINABLE DEVELOPMENT Sustainability has become an important issue worldwide. There is a growing concern for sustainability due to severe negative impacts of human development activities in the earth. The term sustainable development is basically emerged from The World Commission on Environment and Development established by the United Nations in 1983 and now known as the Brundtland Commission. The report, Our Common Future in the publication of Brundland Report provided the most simple and widely used definition for sustainable development as development to ensure that it meets the needs of the present without compromising the ability of future generations to meet their own needs [9]. The concept was given currency at the United Nations Conference on Environment and Development (UNCED) in 1992, and reinforced at the World Summit on Sustainable Development (WSSD) in 2002. UNCED saw the first global agreement on programmes for action in all areas relating to sustainable development, as documented in Agenda 21 [10]. During the United Nations Earth Summit held by the United Nations Environment Programme (UNEP) in Rio de Janeiro (1992), a sustainable development was defined as improving the quality of human life while living within the carrying capacity of supporting eco systems. This definition has an impact on the economic, social and environmental development and was later formally adopted worldwide [11]. This has lead to a growing concern around the world to improve the way of our development into a more responsible way without destroying the world we lived in. SUSTAINABILITY IN CONSTRUCTION Buildings, infrastructure and the environment are part of our living environment thus affecting our living conditions, social well-being and health. Hence, it is important to explore environmentally and economically sound design and development techniques for buildings and infrastructure for them to be sustainable, healthy and affordable, and also which encourage innovation in construction [11]. Previously, the concern on environment is relatively a small part of most of construction development. However, with the growing awareness on environmental protection due to the depletion of non-renewable resources, global warming and extremity of destruction to ecology and biodiversity impact, this issue have gain wider attention by the construction practitioners worldwide. Many efforts are being directed to build sustainable in construction world. The direction of the industry is now shifting from developing with environmental concern as a small part of the process into having the developme nt process being integrated within the wider context of environmental agenda [12]. With the implementation of sustainable construction, the construction industry is bound to bring about positive and proactive changes such as less pollution, waste and even constitutes to the well being of future generations. Therefore, the construction activities must work and comply with the need to protect and sustain the environment. As a consequence, achieving sustainability means achieving quality of life. Existing research shows that construction activities are a major contributor to environmental pollution [13]. Hence, sustainable development is an answer to reduce the major impact on the environment. Sustainable development requires the construction industry itself to be sustainable first. There are three elements that are related to sustainable development, which are economic, social and environment element [14]. Sustainable in economic includes increase profitability and competitiveness. Sustainable in social elements covers aspects of the delivery of buildings and infrastructures that meets the satisfactorily meets the requirement of the users and stakeholders. While sustainable in environment would consider the concerns on the conservation of natural ecosystems and minimization of environmental impacts and the consumption of energy and natural resources [10, 14]. Apart from that, sustainable construction is seems as a way for the construction industry to contribute to the effort to achieve sustainable development [6]. In brief, sustainable construction is the construction that contributes to the sustainable development. Abidin [15] suggested that the approach of sustainable construction will enable the construction practitioners to be more responsible to the environmental protection needs without neglecting the social and economic needs in striving for better living. Therefore, the challenge of the construction industry is to find the balance between three main pillars; environmental, economic and social in order for the construction industry to move towards sustainability. Since the construction industry has a great significant impact on the environment, the implementation of sustainable construction is a must. According to Tan, Shen and Yao [13] sustainable construction refers to the integration of environmental, social and economic considerations into construction business strategies and practices. It is the application of the principles of sustainable development to the comprehensive construction cycle from the extraction of raw materials, through the planning, design and construction of buildings and infrastructure, until their final deconstruction and management of the resultant waste. However Hamid, Noor, Kamar, Ghani, Zain, and Rahim [16] further explained that sustainable construction is the creation and responsible maintenance of a health built environment, based on ecological principles and by means of an efficient use of resources. In addition, sustainable construction is a way for the building industry to move towards achieving sustainable development, taking into account the environmental, socio-economic and cultural issues [11, 17]. Aguilar [18] pointed out that the adoption of sustainable construction practices also offers environmental protections as well economic advantages for consumers and communities offering substantial savings in the buildings life-cycle operating costs. Singh [19] further added that sustainability in construction is all about following suitable practices in terms of choice of materials, their sources, construction methodologies as well as design philosophy so as to be able to improve performance, decrease the environmental burden of the project, minimize waste and be ecologically friendlier. Consequently, sustainable construction deals with limited resources especially energy and how to reduce the impacts on the natural environment. Previous studies related to the research There were various research has been conducted in the area of sustainable construction and the quantity seems to increase over the years since environmental issues become more concerning worldwide. The research that has been done in the area of sustainable construction can be grouped into four which are research on sustainable practices, research on opportunities and awareness, research on materials and research on policy. The research that has been done in sustainable practices for instance is by Tan, Shen and Yao [13] which conducted a research on sustainable construction practice and contractors competitiveness which focuses on the relationship between sustainability performance and business competitiveness. The findings showed that there is no unique relationship between the two variables. But using a long-term view, sustainability performance will have greater contribution to business competitiveness in the future. Whereas Chen, Okudan, and Riley [20] conducted a research on sus tainable performance criteria for construction method selection in concrete buildings. The study was based on a qualitative research approach. In her study, she has identified a list of possible opportunities and strategic directions for government and industry stakeholders consideration in view of the future development. While Shen, Tam, Leona and Ji [21] discussed major challenges of conducting project feasibility study to the sustainable construction practices with reference to Mainland China construction industry. The study demonstrated that there is a need for shifting the traditional approach of project feasibility study to a new approach for embracing the principles of sustainable development. Besides, Shafii [11] has done a research on sustainable Construction in the developing countries of Southeast Asia and found that the status of sustainable construction in Southeast Asia is still in its infancy. Reffat [22] in his research addressed the essential requirements for develo ping sustainable construction in developing countries including considering sustainability as a necessity, efficient management of resources, shared responsibility, quality improvement of construction processes and products, improving the capacity of construction sector, and the need for integrated research. The innovation of building materials and technologies as an opportunity of sustainable construction in developing countries is introduced. A tool for sustainable building is also presented. Mohamad [23] conducted a research on Principles of Sustainable Development in Ibn Khalduns Economic Thought which focused on the nature of pursuable development in the economic model of Ibn Khaldun. The researcher cursorily examines Ibn Khaldun famous work al-Muqadimmah, as well as the interpretations of his work offered by contemporary scholars. This research reinterprets those views and concludes that the economic growth theory of Ibn Khaldun suggests sustainable development if one opts for a moderate rate of integrated development. Ibn Khaldunà ¢Ã¢â€š ¬Ã… ¸s theory of development runs towards the same direction as that of Basic Needs, Dematerialisation, and de-growth in our time. Overconsumption, corruption of morality, and the greed for luxury are recognised the indicators of fall of civilisations which are taken here to be the indicators of unsustainable development. His views can guide Muslim countries in drafting development policy and also can be used by educators for promoting sustainable development in Muslim Countries. A research done by Destatte [24] discussed that foresight could be a major tool in tackling sustainability as well as one of the best methods of preparing sustainable strategies and policies since the efforts made to construct specific methods dedicated to building sustainable strategies seem rather weak. Futurists themselves underestimate the relationship between sustainable development and foresight, even if they are talking about sustainabl e planning. Research on opportunities and awareness for instance has been done by [6, 15] on awareness and application of sustainable construction concept by Malaysian developers. This study has been conducted to investigate the level of awareness, knowledge and implementation of sustainable practices based on the perceptions of the project developers in Malaysia. The findings was only large developers are beginning to take heed towards sustainable implementation in their projects. Due to limited understanding and the concern about cost, many developers are still reluctant and uncertain concerning pursuit of sustainability in their projects. Whereas in the research, The Way Forward of Sustainable Construction and Green Technology In Malaysia conducted by Hamid, Noor, Kamar, Ghani, Zain, and Rahim [10] investigated the challenges facing by the industry in developing sustainable agenda and discusses Construction Industry Development Board (CIDB)s initiatives in implementing sustainable agenda. Fur thermore, he highlighted current research on sustainable construction and green technology and provides strategic recommendations as the way forward. While Shafii, Ali, and Othman [11] in their study focused on the public private initiatives, partnerships and international co-operations to support sustainable building development in Malaysia. The finding was there is increasing public awareness and interest in how buildings affect the environment, worker productivity and public health. As a result, both the public and private sector are beginning to demand buildings that optimize energy use; promote resource efficiency; and improve indoor environmental quality. Developers, owners, operators, insurers, and the public at large are beginning to value and market the benefits of sustainable building. Despite these responses and demand, the development in sustainable building is relatively slow; this in part, might be due to the lack of incentives and regulatory procedures to guide susta inable building construction. The Green Building Mission launched recently by the Malaysian Government is an indication of a promising effort to ensure sustainable production and delivery of the construction industry products to fulfill these demands. The paper also discussed on the trends, challenges and barriers for implementations of sustainable building with recommendations for establishing clear policy targets. Research that has been conducted on materials basically focused on the sustainable material in construction industry and based on laboratory oriented. For instance research conducted by Voo [25] presents an overview of the material characteristics of a Malaysia blend of ultra-high performance ductile concrete (UHPdC) know as DURA. The comparison studies show that many structures constructed from UHPdC are generally more environmentally sustainable than built of the conventional reinforced concrete with respect to the reduction of CO2 emissions and embodied energy. However, in this paper, the researcher intends to focus on sustainable policy. Generally, there is no similar thorough research which has been done by any other researcher in the Malaysian construction industry regarding on policy since Malaysia still do not have policy on the sustainable construction based on the preliminary interview that has been done with Encik Ishamuddin bin Mazlan from the Ministry of Energy, Green Technology and Water (KeTTHA). If any, it merely focuses on the Environmental policy for instance a research conducted by Ambali [26] on Malaysian Experience in Policy of Sustainable Environment. The findings of the paper have shown an empirical relationship between environmental degradations and indicators of human development activities in Malaysia and elsewhere in the world. However, the paper reflects some fundamental issues that need to be addressed by the government for future direction of its policy efforts towards protection of natural resources and the envir onment at large. Whereas Zhang and Wen [27] in her research, review and challenges of policies of environmental protection and sustainable development in China determine how best to coordinate the relationship between the environment and the economy by taking a look at the development of Chinese environmental policy in order to improve quality of life and the sustainability of Chinas resources and environment. Examples of important measures include the adjustment of economic structure, reform of energy policy, development of environmental industry, pollution prevention and ecological conservation, capacity building, and international cooperation and public participation. While a research conducted by Hezri and Hasan [28] views the recent history of Malaysias evolving policy response to development needs and environmental change as consisting of four distinct stages. Despite an impressive array of policy statements and strategies to implement sustainable development, many challenges remain today. A clear articulation of normative principles of sustainable development is of paramount importance, as is the monumental task of policy implementation. The article argues that the trajectory of Malaysias policy on natural resources and environmental issues bears the characteristics of path dependent evolution. At PhD level, Kumorotomo [29] discussed the process of decision-making on Indonesian fiscal decentralisation policy in order to explain policy changes and continuities. It focuses on developments from 1974 to 2004. Based on the review of the previous studies related to the research that have been discussed above there seems no study that has been done (yet) in the area of sustainable construction policy and this will be discussed by the researcher in this Master research. Therefore, the gap has been identified and in order to contribute to the existing body of knowledge. RESEARCH AIM AND OBJECTIVES The aim of this research is to develop framework policy for the Malaysian Construction participants to move towards sustainable construction. In order to achieve this aim the following objectives were identified: Objective 1: To determined the importance of implementing the sustainable construction in Malaysian Construction Industry. Objective 2: To identified the barriers in order to implement sustainable construction in Malaysian Construction Industry. Objective 3: To develop fundamental strategies in promoting the sustainable construction in Malaysian construction industry. RESEARCH QUESTIONS Research questions serves as a guide in fulfill the aim and objectives of the research. In order to resolve the research problem, the following research questions were applied: Research question for objective 1 What and why sustainable construction is important in the Malaysian construction industry? How important of implementation of sustainable construction in Malaysian? How sustainable construction can reduce the global warming or climate change in Malaysia? Research question for objective 2 What are the barriers in implementing the sustainable construction in Malaysian Construction Industry? How to minimise the barriers? Research question for objective 3 What are the strategies in promoting the sustainable construction in Malaysian construction industry? What are the roles of various sectors in promoting the sustainable construction in Malaysian Construction Industry? 2.1 What are the roles of the government agencies? 2.2 Private sector? Developers? Contractors? RESEARCH METHODOLOGY The research methodology serves as a guide in achieving the aim and objectives of the study. This section would focus on the method of study to be carried out in order to achieve the objective of this research. In this research, mix method of questionnaire survey and case study will be applied. Quantitative Approach For the first stage of data collection, the quantitative method will be applied in order to identify the barriers in implementing sustainable construction in Malaysian construction industry. Qualitative Approach On the other hand, qualitative method will be used in order to produce strategies to further implement the sustainable construction. Interview session will be conducted among experienced professionals who involved directly in construction industry. The aim is to generate their opinion towards the implementation of sustainable construction in Malaysian construction industry. SIGNIFICANT OF THE RESEARCH This research will add to the body of knowledge that with the implementation of sustainable construction the construction industry is bound to bring about positive changes for instance less pollution, waste and even constitutes of well being future generations. This research is expected to develop a framework policy of sustainable construction in Malaysia. A new strategies and guidelines seem to be part of the framework design. This research will emphasize the importance of implementation of sustainable construction in Malaysian construction industry in order to sustain ecological system and enhance the social well being of all Malaysian citizens. Besides that, this research will identify the barriers in implementing the sustainable construction so that methods can be taken in order to minimise those barriers and finally come out with the strategies so that Malaysian participants can further implement the sustainable construction. Apart from that, the findings that meet the objective s of this research will open new fields for future researchers and academicians to carry out extensive researches on the topics concerned. In addition, data and output analyzed from the findings can be further referred or elaborated in any educational deliverance or scholarly materials. Therefore it is anticipated that this research will generate interests from the public, academicians and also practitioners. In short, the outcome of this research will affect various parties involved in construction industry including government and private agencies, construction suppliers and finally end users. Therefore, this research will certainly be beneficial to all parties. EXPECTED FINDINGS This research is attempted to develop a framework policy of sustainable construction in Malaysia since there is no specific policy on sustainable construction. Compared to other developed countries such as UK, Sweden and even our neighborhood countries like Singapore and Thailand have their own policies on Sustainable construction. Therefore, a new strategies and guidelines seem to be part of the framework design. At the end of the research it targets to improve the practice of sustainable policy is Malaysian construction industry and indirectly assists the developers, architects and contractors in improving the performance of our industry towards sustainable issues.

buddhism Essay -- essays research papers

Zen; Buddhism's trek through history, politics, and America Zen, or Zenno (as it is known by the Japanese word from which it derives), is the most common form of Buddhism practiced in the world today. All types of people from intellectuals to celebrities refer to themselves as Buddhist, but despite its popularity today in America, it has had a long history throughout the world. "Here none think of wealth or fame, All talk of right and wrong is quelled. In Autumn I rake the leaf-banked stream, In spring attend the nightingale. Who dares approach the lion's Mountain cave? Cold, robust, A Zen-person through and through, I let the spring breeze enter at the gate." -Daigu (1584-1669, Rinzai) (DailyZen) Zen Buddhism's history begins where Buddhism's history began. It originated on the continent of Asia around 500 B.C.. The founder of Buddhism; Gotama Siddhattha, a former price in what is now known as India, is known as "The Buddha," which roughly translates to " o ne who is awake" (Merit 102). "At the age of twenty-nine, deeply troubled by the suffering he saw around him, he renounced his privileged life to seek understanding. After six years of struggling as an ascetic he finally achieved enlightenment at age thirty-five" (DailyZen). In 475 A.D. a Buddhist teacher, Bodhidharma, traveled to China and introduced the teachings of Buddha there. In China Buddhism mixed with Taoism, and the result was the Ch'an School of Buddhism, and from there Ch'an spread to Japan where it is called Zen Buddhism (DailyZen). The Buddhist Religion has always been passed down from teacher to student, and through the use of books and sacred works such as the Malind-panha, Pali Tipitaka, and the Pitaka series (Merit 102). These books and teachers taught students of the religion the philosophies of the practice. They taught of Satori, or enlightenment, which is the main goal of the Zen Buddhist, which is to achieve peace of mind despite external turmoi l ( Archer ninety-six). One way to reach enlightenment is through meditation. Zaren is sitting in meditative absorption as the shortest yet most steep way to reaching enlightenment (Zen 233). The Buddhists stressed the fact that existence is painful. They believed that suffering was a result of false human attachments to things that were impertinent, "including the attachment to the false notion o... ...inly Christian population of the time. It also came as a shock because women were welcomed to join. America was in a chaotic state during the 1960s. The country was basically torn apart, and highly tormented by the controversy over the Vietnam war. People were breached by the traditional American ideals of serving the country, and heroic nationalism, and new ideologies and beliefs systems. More Americans were open to try different things. The Hippie era, trials of free love, and experimenting with fresh cultural aspects, all probably led to a sort of flourishing of spiritual awareness. As the cultures' curiosity and confusion led to a blossoming of new religious forms, or at least new to the Americana. Zen Buddhism was among these ideas, that was grasped at by Americans seeking new spiritual enlightenment. Zen went from India to China to Japan to Western civilization, and made a variable impact in each place it traveled to. The ideas, customs, beliefs, and philosophies of the Zen Buddhist religion spread globally due to its universality. From politics to poets, Zen impacts all aspects of life, and forms ethics through guideline, and basic philosophies of human nature and spirit.

Competitive Landscape in Commercial Real Estate

Home  » Property Types  » Retail  » Clash of the Titans: Regional Mall REITs Fight for Limited Outlet Development Opportunities Clash of the Titans: Regional Mall REITs Fight for Limited Outlet Development Opportunities May 9, 2012 12:54 PM, By Elaine Misonzhnik, Senior Associate Editor In the fall of 2010 executives with Taubman Centers Inc. , a Bloomfield Hills, Mich. -based regional mall REIT, began talking about the REIT’s new avenue for growth: outlet centers. Article Tools ? Latest NewsMore Latest News Taubman had recently completed the conversion of its Great Lakes Crossing property in Auburn Hills, Mich. , a 1. 35-million-sq. -ft. enclosed regional mall, into Great Lakes Crossing Outlets. Taubman was able to sign up many tenants that were not present elsewhere in Michigan, including Bass Pro Shops Outdoor World, Disney Store Outlet and Rainforest Cafe. Great Lakes Crossing Outlets was attracting both local shoppers and Canadians from across the Detroit River. As a result, the center’s sales per sq. ft. umbers rose significantly, company officials said during earnings calls. The success in Auburn Hills helped convince Taubman’s management to capitalize on additional outlet center opportunities. Besides, in a market saturated with fortress malls and lifestyle centers, outlet centers represented one of the last opportunities for ground-up construction. Robert S. Taubman, the REIT’s chairman, president and CEO, laid out a goal of developing from five to 10 outlet centers in the span of a decade. Among the first such undertakings Taubman pursued was a site in Manvel, Texas, near Houston.The site seemed a good fit for Taubman’s target outlet center sales level of at least $400 per sq. ft. The median household income in Manvel is $65,864 a year, more than $15,000 higher than the median household income for the state as a whole. In addition, the town’s proximity to Houston would give Taubman access to 2 million po tential shoppers. Taubman’s Texas ambitions, however, did not pan out. Both Tanger Factory Outlet Centers, a Greensboro, N. C. -based REIT that specializes in outlet center development, and Simon PropertyGroup, the largest retail landlord in the country in both the regional mall and outlet center arenas, had laid claims to outlet center development sites in nearby Texas City, just 22 miles away. According to brokers familiar with the market, the greater Houston area could not support two, let alone three, outlet centers. In June 2011, Simon and Tanger took a decisive step to win the market by announcing that they would partner to build a 350,000-sq. -ft. joint development in Texas City under Tanger’s brand name. It marked the first joint venture development partnership in Tanger’s history.Ultimately, the two firms decided to work together on one large outlet center rather than spend money fighting each other, says Michael Rodenas, principal with Rodenas Consulti ng, a national consulting firm that specializes in shopping centers and malls. As a result, Taubman quietly retreated from the market. In July 2011, while discussing the company’s earnings for the second quarter, Robert Taubman admitted to analysts that outlets constitute â€Å"a very competitive space. It’s a very competitive world out there in development generally. † He reiterated the company’s commitment to investing in outlet centers both in U.S. and in Asia, but refused to discuss the Texas project. The Houston saga wasn’t the only time Taubman and Simon came to loggerheads in the outlet space. In early April, Simon and Taubman each issued press releases about competing outlet center projects in Chesterfield, Mo. , another market where trade area demographics seem to dictate that only one outlet development can succeed. On Apr. 3, Simon revealed that Saks Fifth Avenue OFF 5th agreed to anchor its St. Louis Premium Outlets, an outlet center sl ated to contain at least 350,000 sq. ft. of space. (St.Louis Premium Outlets is a product of a joint venture between Simon, Woodmont Outlets and EWB Development LLC, all experienced outlet center developers. ) Two days later, Taubman announced it broke ground for Taubman Prestige Outlets Chesterfield, a 450,000-sq. -ft. center. Taubman’s press release noted that it had firm commitments from a number of tenants, but did not identify any retailers by name. It is likely that only one of those two centers will get built in Chesterfield. â€Å"We’ve said publicly, I think, Simon has said publicly that there is only going to be one project built in St.Louis,† Robert Taubman said during the firm’s first quarter earnings call. â€Å"We are way ahead, on a much better site with much better access, much better visibility. †¦ So to us it’s very clear as to which project is going to be built. † Most industry sources, however, are putting their mone y on Simon because of the firm’s size, its existing network of relationships in the outlet center industry and the fact that it has already bagged a major tenant. The large regional mall players, including Simon, Taubman, Macerich Co. CBL & Associates Properties and others, have all made overtures to enter the outlet space. But with limited opportunities for development and an existing group of experienced landlords already competing there, these battles—competing press releases, wars of words and unconventional partnerships— are likely to continue to play out repeatedly throughout the country. CBL & Associates recently invested in The Outlet Shoppes in El Paso (Texas). Last spring, both Simon and Tanger announced outlet center projects in the town of Halton Hills, a suburb of Toronto.Tanger has since moved its project further away and will build it as an outlet addition to Heartland Town Centre, one of Canada’s largest power centers. Simon, meanwhile, st arted construction on its original site in Halton Hills in April. And in the Chicago area, Macerich and AWE Talisman have announced plans to build a $200 million, 528,000-sq. -ft. outlet center in Rosemont while Craig Realty Group, a privately held outlet center developer, has ambitions to develop Chicagoland Outlets at Country Club Hills, a 408,500-sq. -ft. project.Simon Property Group declined to comment for this article. Tanger, Taubman, Macerich and Craig Realty Group, meanwhile, did not respond to calls for comments. â€Å"The problem is—as we saw when developers started to roll out lifestyle centers—that everyone goes after the same markets,† says Jeff Green, president of Jeff Green Partners, a Phoenix-based consulting firm. â€Å"And many times the newer folks to the outlet industry are going to find that it’s a much harder industry to get into when there are relationships that have been in place for so many years. † In certain isolated inst ances, uch as the one near Houston, two big developers might form joint ventures because one of them holds a better site while the other wields more power with retailers. Such examples, however, will be few and far between, according to Richard Hauer, managing director of business restructuring services at BDO, a New York City-based consulting firm. â€Å"Let me put it this way: Neither Simon nor Taubman is going to build a second-rate outlet mall,† he says. â€Å"So if the first guy can get Coach and Polo and Saks and a few of those names that every outlet mall really wants, you’ll see the other guy back down. Mass appeal The reasons the outlet sector has suddenly become overcrowded are easy to trace. During the downturn, outlet center sales rose while mall sales fell or remained flat because shoppers were suddenly attracted to outlets’ value proposition. What’s more, as these centers moved closer to urban areas and proved that they can work in close pr oximity to regional malls, the number of markets that could support new projects increased. With limited opportunity for growth elsewhere, regional mall REITs began to focus on the outlet sector.Real estate owners that want to gain market share in a new property segment typically have two avenues for growth: either through acquisition of multiple assets or another operating company or though development. But when Simon bought Prime Outlets Inc. in 2010 it snapped up the last big privately-held outlet center operator in the market. Today, â€Å"no private guy controls 20 or 30 centers that could be sold,† says Gerard Mason, executive managing director with Savills LLC. What’s more, there is a wide spread on yields between development and investment.For instance, CBL & Associates, a Chattanooga, Tenn. -based REIT, recently invested more than $108 million to provide financing for two outlet centers developed by Horizon Group Properties, a Rosemont, Ill. -based outlet cent er developer. (CBL has also partnered with Horizon on groundup projects in Oklahoma City and Woodstock, Ga. ) But CBL CEO Stephen Lebovitz admits that development projects offer double-digit returns while investing in existing centers brings returns in the 8 percent range. I would expect that our growth will be mainly through new development,† he says. At the same time, Lebovitz notes that the number of markets in the U. S. that would meet CBL’s development criteria, including a trade area of approximately a million people, a sizeable tourist base and lack of existing competition, is limited. One high-ranking industry source says that for developers targeting outlet center sales on par with Simon’s levels, which average about $550 per sq. ft. , there are maybe 10 untapped markets left that fit the necessary trade area characteristics.For developers targeting Tanger’s sales levels, which currently average $371 per sq. ft. , there are about 40 untapped marke ts. â€Å"But there aren’t 100,† the anonymous source notes. By the end of the 2012, there will be 187 outlet centers containing 71 million sq. ft. , according to Value Retail News, a publication that covers the outlet industry. Linda Humphers, editor-in-chief of Value Retail News, estimates that in the long term, the country may be able to support another 250 centers, but that would include conversions.Occasionally, a developer will be able to find a site in an offbeat location that nobody else has thought about, says Gerard Mason. But for the most part, all the REITs are looking at the same markets, and in many cases, at the same piece of land. â€Å"There is clearly room for growth in the sector—every major metro area can certainly support outlet retail,† says Michael P. Glimcher, CEO of Glimcher Realty Trust, a Columbus, Ohiobased regional mall REIT that also owns outlet centers in Elizabeth, N. J. and Auburn, Wash. I just think the reality is there a re a lot of people in that category and only a small percentage of what’s being announced will actually get built,† Glimcher says. Bloodless war When it comes to handling competition on new developments the big retail REITs have acquired a reputation for being ruthless, employing tactics such as funding community opposition groups to derail each others’ projects, says Patrick Fox, president of Saint Consulting Group, a firm that specializes in zoning and land-use battles. These are mature markets, they are largely over-built and the battle for market share is tremendous,† he notes. But unlike large regional malls that tend to be located in major urban areas, outlet centers don’t normally inspire the same kind of opposition from local residents, according to James Schutter, senior managing director with Newmark Knight Frank Retail, a retail real estate services firm. In fact, many communities want to see outlet centers built because of the tremendous amount of sales tax revenue they bring in. The real battle in outlets’ case is for tenant commitments.Although the outlet industry doesn’t have anchors in the same sense that the regional mall industry does, there are certain key stores that are necessary to attract shoppers and that the rest of outlet retailers follow, notes Hauer. These include Saks Fifth Avenue OFF 5th, Coach and Polo, as well as Neiman Marcus Last Call and Nordstrom Rack. About a decade ago, Hauer tried to develop an outlet center near Syracuse, N. Y. When he started negotiating with potential tenants the answer was â€Å"if you can get Polo, we’ll sign. Otherwise, we are not interested. †When there are two developers competing to build a center in a market that can support only one project it becomes a race to be the first to announce leases with major tenants. The developers try to convince expanding retailers that their center is the one that’s going to happen by putting out announcements about land permits and ground-breakings. Ultimately, however, it’s the line-up of tenants that determines whose center gets built. â€Å"Developers announce that they will put together a mall [all the time], they don’t always make it happen,† says Schutter. If you’ve got this tenant and this tenant and this tenant coming, the other guys in the marketplace say, ‘Let’s go into this project. ’† â€Å"A ground-breaking is not as strong as being able to announce a strong anchor tenant,† Fox adds. So how do those key retailers decide who to go with when the choice is between Simon and Tanger, or Simon and Taubman or Macerich and Craig Realty Group? After Taubman converted its Great Lakes Crossing project into an outlet center, sales rose significantly.Having the best site certainly makes a difference, which is why Simon may be willing to partner with Tanger if Tanger has secured a better location, according to Mic hael Rodenas. When the projects are in the same trade area, the choice might come down to seemingly small differences like which side of the highway the center will be located on or which zip codes in a given area are missing from the retailer’s customer base. But in the outlet industry, having existing relationships with a potential landlord is also very important, according to Hauer, Green,Lebovitz and others. And in this, Simon, which controls the largest mall portfolio and the largest outlet center portfolio in the country, has a tremendous advantage. That might not come into play as much in the Simon/Tanger relationship because the two REITs specialize in slightly different projects, but it will likely loom large in any battle between Simon and other regional mall REITs. â€Å"If you [as a tenant] get Simon angry with you on the outlet side, they can be angry with you on the traditional retail side also,† says Green. Let’s just say that in that case the dev eloper has a large hammer, a larger hammer than any mall-only developer would have. † That’s why most retail industry insiders feel that while Taubman and the other regional mall REITs will eventually be able to build a handful of outlet centers, they will not be able to break into the business in the big way they had imagined. â€Å"The outlet mall industry is kind of a closed world,† says Schutter. Sidebar: Eastern Promises While U. S. retail REIT executives try to build up their outlet portfolios at home, most of them realize that growth opportunities here are limited.So in recent months they’ve been announcing outlet center projects elsewhere in the world, including Canada, Brazil, Japan, China, South Korea and Malaysia. In April, Simon signed a deal with BR Malls Participacoes S. A. to develop outlet centers in Brazil, with the first project scheduled to be built in Sao Paulo by 2013 and started construction on Phase I of Shisui Premium Outlets, a 234 ,000-sq. -ft. outlet center in Shisui, Japan. Both Simon and Tanger have been working on outlet centers in Canada, including Simon’s 500,000-sq. ft. Toronto Premium Outlets in Halton Hills and Tanger’s 312,000-sq. -ft. outlet addition to Heartland Town Centre in Mississauga. And Taubman executives have told analysts they are looking to build outlet centers in Asia, where Taubman already has offices in Hong Kong and Seoul, South Korea. â€Å"In the U. S. , you are not going to see outlet centers double in number,† says Gerard Mason, executive managing director with Savills LLC, a global real estate services firm. â€Å"That’s why Simon is in Brazil and China.In Brazil they might be able to do 15 outlet centers because their middle class is just emerging and they need shopping centers. † —E. M. Sidebar: Mini-Malls With the increase in outlet centers’ popularity, the concept has evolved to represent something different than a small colle ction of factory stores in the middle of nowhere. In the 1980s and 1990s, the rule of thumb was that an outlet center had to be located at least 70 miles away from the closest phone line, jokes one broker. Today, if a shopper goes to Central New Jersey, â€Å"you have the Freehold Raceway Mall [a 1. -million-sq. -ft. superregional center] and then 10 to 15 minutes away, there is an outlet mall,† according to Richard Hauer. Today’s outlet centers have grown larger, sometimes containing up to 450,000 sq. ft. or 500,000 sq. ft. of space, whereas the outlet centers of yesterday tended to average 150,000 sq. ft. The tenant line-up has changed from manufacturers to big retail chains, many of which, including Nordstrom, Neiman Marcus, Saks Fifth Avenue, Bloomingdales, Gap, J. Crew and Aeropostale, have established off-price and outlet divisions.Plus, outlet centers now feature mall-like amenities, such as food courts, restaurants and movie theaters, because people are staying on the properties longer than they used to, notes Michael Rodenas. And when CBL & Associates Properties and Horizon Group Properties were working on the plan for The Outlet Shoppes at Oklahoma City, a 350,000-sq. -ft. center that opened last summer, CBL marked land around the property for the addition of restaurants and hotel facilities. â€Å"We feel it adds critical mass,† says Stephen Lebovitz. —E. M.

Making Hard Decisions Questions Essay

Respond to the following questions from chapter 1 on pp12-13. Use this document to respond to the following question using MS Word. Type your responses below each question shown below and use as much space as you need for your response. 1.2 Explain how modeling is used in decision analysis. What is meant by the term â€Å"requisite decision model†? Ans: Modeling is used in decision analysis in several ways. Models facilitate gaining insights of a decision problem that may not be apparent or obvious on the surface. For example, influence diagrams and decision trees are used to represent the decision problem. Hierarchical and network models are used to understand the relationships among different aspects or objectives. Utility functions are used to model the way in which decision-makers value different outcomes and trade off competing objectives. A requisite decision model is a model that can be considered requisite only when no new intuitions emerge about the problem. In simple words, a requisite decision model is a model whose form and content are sufficient to solve a particular problem. Everything required to solve the problem is represented in the model or can be simulated by it (Phillips, 1987, p.37). 1.3 What role do subjective judgments play in decision analysis? Ans: Subjective judgments are important ingredients in decision analysis. Discovering and developing these judgments involves thinking hard and systematically about important aspects of a decision, which forms an essential part of decision analysis. However, it should also be kept in mind that personal insights might be limited and misleading as human beings are imperfect information processors. Thus, it is essential that personal judgments are taken into consideration, and at the same time human cognitive limitations are understood for improved decisions. 1.4 At a dinner party, an acquaintance asks whether you have read anything interesting lately, and you mention that you have begun to read a text on decision analysis. Your friend asks what decision analysis is and why anyone would want to read a book about it, let alone write one! How would you answer? Ans: Decision analysis consists of a framework and a tool kit for dealing with difficult decisions. It is used to help a decision maker think systematically about complex problems and to improve the quality of resulting decisions. Decision analysis offers guidance to normal people working on hard decisions using fundamental principles such as tools to understand the structure of the problem, uncertainties involved and the trade-offs inherent in alternative outcomes. 1.5 Your friend in Question 1.4, upon hearing your answer, is delighted! â€Å"This is marvelous,† she exclaims. â€Å"I have this very difficult choice to make at work. I’ll tell you the facts, and you can tell me what I should do!† Explain to her why you cannot do the analysis for her. Ans: Although decision analysis provides guidance for systematic thinking in hard decisions, it does not mean that it provides an alternative that must be blindly accepted. The decision maker should understand the problem thoroughly. Decision analysis does not relieve the decision maker from the obligations in facing the problem, or replace his or her intuition. Instead of providing solutions, it merely augments the decision maker’s thought process by providing insights into the objectives, trade-offs and uncertainties. Thus, the friend must go through the process of decision analysis to understand the problem which will help in better decisions. 1.10 â€Å"Socially responsible investing† first became fashionable in the 1980s. Such investing involves consideration of the kinds of businesses that a firm engages in and selection of investments that are as consistent as possible with the investor’s sense of ethical and moral business activity. What trade-offs must the socially responsible investor makes? How are these trade-offs more complicated than those that we normally consider in making investment decisions? Recall, from ISEN 667 the financial objective of the firm (maximize the future wealth of the owners of the firm.) Ans: The key question here is: can good environmental performance can be associated with good financial performance? Since socially responsible investing firms do not invest in a broad mix of stocks, one will expect their performance to lag behind other firms in the market. Expenses are higher and management is time-consuming as socially conscious portfolios require increased managerial oversight and research. However, the market performance of these firms tends to be stable in the long run as they do not invest in volatile ventures. Thus, the decision makers must consider the short-term as well as the long terms effects of the decision in their analysis. The trade-offs are more complicated than those that we normally consider in making investment decisions. This is because financial performances are well-defined, whereas there are no clear definitions for environmental performance indicators. Firms thus, find it difficult to measure their financial performance relative to environmental performance. 1.11 Many decisions are simple, preprogrammed, or already solved. For example, retailers do not have to think long to decide how to deal with a new customer. Some operations-research models provide â€Å"ready-made† decisions, such as finding an optimal inventory level using an order-quantity formula or determining an optimal production mix using linear programming. Contrast these decisions with unstructured or strategic decisions, such as choosing a career or locating a nuclear power plant. Ans: Structured decisions are programmable, preplanned decisions which are made under the established situations that are fully understood. There are limited trade-offs and objectives often are not conflicting with other secondary objectives. Unstructured or strategic decisions are often made under situations that are unclear or uncertain. There are multiple trade-offs and objectives to consider which are often conflicting in nature. There is no one particular solution for a strategic decision. Multiple alternatives must be evaluated and the decision chosen might not necessarily produce the best result. What kinds of decisions are appropriate for a decision-analysis approach? Ans: Unstructured decisions are appropriate for a decision-analysis approach as there is no need for decision analysis when the decision is simple or programmable. Complex, hard decisions require systematic thinking, understanding of the problem and awareness of the uncertainties and trades-offs, and thus, are appropriate for decision-analysis approach. Case Situation: Refer to the DuPont and Chlorofluorocarbons case on page 15 and respond to the following questions. 1. What issues would you take into account and why? I would take into account the following issues: (i) Stakeholders’ needs: Stakeholders are of paramount importance. The conflicting issue is that without pleasing customers it is difficult to maximize shareholder returns, while without regulatory support shareholder returns cannot be assured. (ii) Accountability and public perception: Should the firm accept the scientific evidence and make it public? What will be the public reaction? (iii) Environmental responsibility: A complete ban on CFCs would cause severe economic and health problems because of the loss of refrigeration and air-conditioning. The firm is responsible for developing a substitute before a complete ban is implemented. 2. What major sources of uncertainty do you face? (i) Uncertainty of Science: The scientific evidence that CFCs have a detrimental effect on the ozone layer might suffer from certain setbacks. I would assign scientists to focus more on the connection between CFCs and ozone layer. (ii) Development of substitute: It is not certain that the substitute developed for CFCs would be as marketable as CFCs, and would be as efficient as CFCs. This can have direct effects on the performance of the firm. Also, it is uncertain if they will also have a harmful effect on the ozone. (iii) International cooperation: Development of the substitute and subsequent ban of CFCs requires international cooperation which is uncertain. 3. What corporate objectives would be important for you to consider? Do you think that DuPont’s corporate objectives and the way the company views the problem might have evolved since the mid-1970s when CFCs were just beginning to become an issue? Ans: Taking the course of action that maximizes the firm’s profit would be the most important corporate objective of the firm. However, there is also an environmental aspect involved. Thus, we should search for solutions where the needs of both can be satisfied simultaneously. I think the way the company views the problem might have evolved since the mid-1970s from being profit-oriented to a more environmentally sensitive perspective. References Robert. T. Clemen , Terrence Reilly, â€Å"Making Hard Decisions with Decision Tools†, Duxbury Press; 1 edition, Jun 2000