Implementing Enterprise Resource Planning †Free Samples to Students

Question: Discuss about the Implementing Enterprise Resource Planning. Answer: Introduction: The main purpose of the project is to develop a network for the information system for the STP and secure the information system from unauthorized access. The information system is developed according the goals of the business for supporting the future growth of the organization. The information system should be developed for improvement of the business goals of the organization and the privacy of the organization should be kept confidential for securing the organizational data. The growth of the business should be kept in mind for management of the employees of the organization. The information system should be developed for increasing the efficiency of the business process of the organization and decrease the response or waiting time of the users. The scope of the project is to include the different functionality of the business process in the information system for increasing the efficacy of the business. The manual process of the organization can be automated with the development of the information system. The cost of operation of the current business process should be minimized with the implementation of the information system. New equipments and technology should be implemented for improvement of the business process and report should be generated from the information system to show the current sales record and the stocks available in the warehouse of the organization. To develop the information system to meet the current requirement of the organization and comply with the regulations. The network administrator is responsible for monitoring the progress of the project and each of the module should be developed for including the functionality The project should increase the efficiency of the current work process and reduce the workload and complexity of the employees working in the organization. To increase the return of investment and the information system should be developed for facilitating employees to get real time monitoring of the sales report and develop the customer relationship. Strategic alignment of the project The project should aligned with the current business process to view the sales and the stock record and monitor the records at a real time for the increasing the efficiency of the current workplace of the organization. The account manager is responsible to maintain the sales record and the information system should be developed to automatically record the sales of the product sold by the sales representatives and record in the database to generate a sales report. The database of the information system should be encrypted with the application of encryption algorithm and provide permission to the users. Read / write permission should be provided for reducing the risk of illegal access. The data residing in the database of the information system should be stored in different tables and the tables should be normalized such that it can be joined to provide an appropriate result of the querry (Sousa and Oz 2014). The database should be regularly backed up to ensuring the protection of the database and password should be used for the access of the data. Authorization should be added for removal of the risk of access of the content by the employees and accidental damage of the files. A secure connection is required to be established between the database and the interface of the information system for increasing the efficiency of the information system (Rouhani, Ghazanfari and Jafari 2012). The standalone system present in different branches of the organization should be replaced with the information system and the interfaces are required to be hosted on a web platform and connected with a central database server for storing the information generated and inputted into the system. The information system should be connected using mobile devices to increase the flexibility of the system and allow the user to access it from remote locations. The mobile device should be encrypted and antivirus program should be installed for the reducing the risk of virus and corruption of the database of the information system (Oseni et al. 2014). The theft or lost of the mobile phones that is connected with the information system can compromise the security of the information system and make it vulnerable for the attackers to exploit the contents of the information system. The mobile device can be used as an intermediate device to access the content of the information system. The encryption of the data in the mobile phone can use of strong password can reduce the risk of illegal access of the cell phone for accessing the resources of the information system (Jouini, Rabai and Aissa 2014). The operating system of the mobile phones used by the employees to connect with the informat ion system should be kept updated for protecting it from harmful software. Plan for hardware purchases Different hardware are required for the development of the information system and they are categorized as follows: Input devices- This are the devices that takes the input from the users of the information system and it can be mouse, keyboard or touch panels. The choice of the input device that is used for providing input to the information system depends upon the users and the data should be entered on different scales. The information system can be based on several features and it may require different input device. Processing devices- The processing device is required for processing the data residing in the database of the information system and different function of the modules developed. The increasing the processing power of the cpu used for the management of the information system increases the efficiency of the system (Fragkiadakis, Tragos and Askoxylakis 2013). The clock speed of the cpu is used for determination of the number of instruction that is required to be processed per second. Memory- the memory of the computer can be divided into internal and external memory and the data that is held on the memory can be stored in the external device for increasing the flexibility of the system. The running process are stored in the computer memory and the size of the memory depends on the handling of the queue (Bernroider, Wong and Lai 2014). The size of the memory used for processing the queue of the information system is dependent on the controlling and the processing power of the information system. Output devices- The output devices the screen of the information system and the monitors used for getting the output of the results of each of the querry. The printer can also be called as an output device because it is used for printing out the report. Mainframe- The mainframe are used for processing the large scale of data and it is used for recognition of the existing processes and meet the needs of the organization and implement a change over ion the organization. Business continuity To maintain a continuity in the business the information system should increase the customer relationship management of the organization. A business continuity plan is important for the success of the business and a strategy is required for the recognition of the threats acting on the information system. The potential risk acting on the information system and their effect are evaluated for the creation of the business continuity plan and the plan should be periodically reviewed for bringing in the changes in the organization and mitigation of the risk (Acemoglu, Malekian and Ozdaglar 2016). The operational risk such as the human errors and the sudden change in the organizational culture should be included in the plan for creation of a fully functional plan. The areas of improvement of the information system and the dependency of the internal and the external factors such as the decision from the management or higher authorities are seen as higher cost and the human interaction should be minimized for minimizing the risk. The recovery of the system and the interruption should be avoided and a proper risk management is necessary for the implementation of the business continuity plan in the organization. The stakeholders included in the business process and their potential to cause harm to the information system should be identified and the permission for accessing the resources of the organization should be defined to them for reducing the impact of the threat and reducing the complexity of the management of the risk associated with the information system (Golriz and Jaber 2015). The recovery point and the time required for the recovery of the information system in case of failure should be analyzed and maximum tolerable data loss should be ensured for the recovery of the critical functions and maintaining a continuity in the current business process. Risk management Risk management is an important process for the success of the information system and it should be able to automate the different business process and minimize the cost of the development and running of the information system. The supply chain of the products should be managed and the information of the supplier and the customer should be recorded for minimizing the loss of data that may occur at one end of the information system (Harmon 2014). The information system should record the data according to different departments and the accessibility of the data should be given to the manager of the department for improvement of the current business process of the organization. An architecture of the information system should be created for the access right should be provided to the users and a maintenance log should be maintained for storage of the evidence of the illegal activity (Kale 2014). The risk can be categorized into different types such as physical security, hardware security, communication security and data storage security. Physical security of the information system- The data storage rooms and the server rooms should be kept under lock and key and entry of the unauthorized persons should be restricted. The physical access of the servers can make the system vulnerable and the data may be access by the people or virus can be implanted in the server to make the information system unavailable for the users. Security of the hardware- Proper air conditioning should be used routers and the servers and the firmware of the software versions should be upgraded with recent patch and updates to protect the information system from sabotage attacks. Communication - The client relationship management employees must be included for taking criticism about the necessity of the system. A self-appraisal polls is utilized that helps the group to distinguish the hazard related with the framework (Jouini, Rabai and Aissa 2014). The eHealth security strategy is dissected by the security group and they are recorded and lined up with the present framework arrangements for checking on. Meetings were led with the distinctive partners for understanding the framework and approve the assembled data in regards to the framework Data storage security- There are different testing tools available and it should be used for accessing the vulnerability of the network and the configuration should be reviewed for protecting the data center and increasing the efficiency of the information system. Conclusions The report expresses the present status of the STP in executing new PC framework and new advances for dealing with the general population customer. The task is contrasted and the sound undertaking administration practices and proposal is given to close the project. Facilitate proposal for the change of the STP future administration rehearse is likewise given in the report. The aptitudes that a task administrator should have to legitimately deal with the undertaking are examined in the report and in conclusion some guidance is given to the CEO for dealing with the project. The data framework is intended to record every one of the records of the items sold by the organization and the points of interest of the clients for expanding the proficiency of the framework. The report is set up to depict the foundation of the undertaking, scope and the objectives of the task. The security of the data is the principle worry for the advancement of the project as per the necessity. The information utilized by the data framework ought to be secured from illicit access and the gadget interfacing with the data framework ought to likewise be secured for evacuation of the hazard related with the improvement of the framework. Recommendations The following recommendations n are made for the improvement of the efficiency of the information system deployed in the organization. Increasing the availability of the information All the organizational information such as the stocks available, shipment details, invoice, payment records, customer information should be recorded in the database of the information system such that it can be used for generating report and reduce the chances of the human errors. Inclusion of accurate information A proper validation should be used and the development of the data entry page using drop down list or check box reduces the chances of wrong entry of data in the information system. The information provided should have the option of modification such that the user go back to the previous stage for solving the errors. Checking the compatibility of the application software The external software used in the information system should be checked if it is compatible and works according to the requirement because a flaw in the application software can cause a loop hole in the information system and open path for the hackers to intrude into the information system and get the access of the data. Identification of the authorization The person who are given the full control of the information system should be listed and the improvement can be made in the authorization for making recommendation and taking appropriate action to revise the organization policy and procedures and ensuring that the policy are followed by the group of employees working on the organization. Submission of the proposal A proposal regarding the problems and the actions that is required to be performed for the improvement of the information system should be submitted by the stakeholders involved in the development and using the information system for the removal of the constraints and increasing the efficiency of the system. Bibliography Acemoglu, D., Malekian, A. and Ozdaglar, A., 2016. Network security and contagion.Journal of Economic Theory,166, pp.536-585. Bernroider, E.W., Wong, C.W. and Lai, K.H., 2014. From dynamic capabilities to ERP enabled business improvements: The mediating effect of the implementation project.International Journal of Project Management,32(2), pp.350-362. Chang, J.F., 2016.Business process management systems: strategy and implementation. CRC Press. Drumm, O., Lutz, B., Palmin, A. and Wolf, G., Siemens Aktiengesellschaft, 2016.Planning and Engineering Method, Software Tool and Simulation Tool for an Automation Solution. U.S. Patent Application 15/083,525. Fragkiadakis, A.G., Tragos, E.Z. and Askoxylakis, I.G., 2013. A survey on security threats and detection techniques in cognitive radio networks.IEEE communications surveys and tutorials,15(1), pp.428-445. Galy, E. and Sauceda, M.J., 2014. Post-implementation practices of ERP systems and their relationship to financial performance.Information Management,51(3), pp.310-319. Golriz, A. and Jaber, N., 2015, October. A High Assurance Firewall in a Cloud Environment Using Hardware and Software. InInternational Telemetering Conference Proceedings. International Foundation for Telemetering. Harmon, P., 2014.Business process change. Morgan Kaufmann. HassabElnaby, H.R., Hwang, W. and Vonderembse, M.A., 2012. The impact of ERP implementation on organizational capabilities and firm performance.Benchmarking: An International Journal,19(4/5), pp.618-633. Jouini, M., Rabai, L.B.A. and Aissa, A.B., 2014. Classification of security threats in information systems.Procedia Computer Science,32, pp.489-496. Kale, V., 2014.Implementing SAP CRM: The Guide for Business and Technology Managers. CRC Press. Kumar, M., Kaur, N., Kaur, S. and Singh, R., 2016. Different Security Threats and its Prevention in Computer Network.International Journal of Advanced Research in Computer Science,7(6). Oseni, T., Rahim, M.M., Smith, S.P. and Foster, S., 2014. An initial empirical evaluation of the influence of erp post-implementation modifications on business process optimisation. Parvizi, R., Oghbaei, F. and Khayami, S.R., 2013, May. Using COBIT and ITIL frameworks to establish the alignment of business and IT organizations as one of the critical success factors in ERP implementation. InInformation and Knowledge Technology (IKT), 2013 5th Conference on(pp. 274-278). IEEE. Pearlson, K.E., Saunders, C.S. and Galletta, D.F., 2016.Managing and Using Information Systems, Binder Ready Version: A Strategic Approach. John Wiley Sons. Rouhani, S., Ghazanfari, M. and Jafari, M., 2012. Evaluation model of business intelligence for enterprise systems using fuzzy TOPSIS.Expert Systems with Applications,39(3), pp.3764-3771. Schniederjans, D. and Yadav, S., 2013. Successful ERP implementation: an integrative model.Business Process Management Journal,19(2), pp.364-398. Seo, G., 2013.Challenges in implementing enterprise resource planning (ERP) system in large organizations: similarities and differences between corporate and university environment(Doctoral dissertation, Massachusetts Institute of Technology). Sousa, K.J. and Oz, E., 2014.Management information systems. Nelson Education. Teittinen, H., Pellinen, J. and Jrvenp, M., 2013. ERP in actionChallenges and benefits for management control in SME context.International Journal of Accounting Information Systems,14(4), pp.278-296.

The Advantages of Using Sample Block Style Compare Contrast Essay

The Advantages of Using Sample Block Style Compare Contrast EssaySample block style compare contrast essay writing could be a very powerful method of generating potential customers, that's why it's becoming so popular in today's industry. With this information you'll have no excuse not to be using this technique. In fact, it could be a very lucrative and successful business opportunity, if you make use of it correctly.In the product development and market research industries, this technique is commonly used to boost revenue by offering prospective customers an informational service. In other words, you are giving them all the information they need to make a good decision, with all the advantages they'll get.In fact, it's been utilized extensively to develop products such as market research survey software, insurance comparisons, and insurance comparison software. One of the most common reasons why companies choose to use this technique is that they want to maximize potential customer s' time. After all, they don't want their competitors to increase their profit margins because they did something right.This means that you should use sample block style compare contrast essay to guarantee that your customers will buy your new product or solution. This technique doesn't only make it easy for your customers to make a decision, but also allows you to track its success, thus you'll know which service to continue developing.At the same time, sample block style compare contrast essay allows you to offer all the information you need to convince your potential customers. That way, you won't waste time asking them to read from the marketing brochure, you'll be able to give them what they need without having to take any extra effort.This new service could enable you to build a strong customer base that could potentially be converted into loyal clients who would consider your new service their first choice in the future. One of the advantages is that your future customers won 't get annoyed with the frequent updates and give the software a good review, so you'll be able to get even more sales.In conclusion, sample block style compare contrast essay is a great way to get more sales, to increase your sales conversion rates, and to develop new leads. It could also save you valuable time that you'd rather spend on things that really matter, like increasing your sales conversion rates.

Development Across the Lifespan Chapter 10 Flashcard

Development Across the Lifespan Chapter 10

US Federal Court System Primer

US Federal Court System Primer Often called the guardians of the Constitution, the U.S. federal court system exists to fairly and impartially interpret and apply the law, resolve disputes and, perhaps most importantly, to protect the rights and liberties guaranteed by the Constitution. The courts do not make the laws. The Constitution delegates making, amending and repealing federal laws to the U.S. Congress. Federal Judges Under the Constitution, judges of all federal courts are appointed for life by the president of the United States, with the approval of the Senate. Federal judges can be removed from office only through impeachment and conviction by Congress. The Constitution also provides that the pay of federal judges shall not be diminished during their Continuance in Office. Through these stipulations, the Founding Fathers hoped to promote the independence of the judicial branch from the executive and legislative branches. Composition of the Federal Judiciary The very first bill considered by the U.S. Senate the Judiciary Act of 1789 divided the country into 12 judicial districts or circuits. The court system is further divided into 94 eastern, central and southern districts geographically across the country. Within each district, one court of appeals, regional district courts and bankruptcy courts are established. The Supreme Court Created in Article III of the Constitution, the Chief Justice and eight associate justices of the Supreme Court hear and decide cases involving important questions about the interpretation and fair application of the Constitution and federal law. Cases typically come to the Supreme Court as appeals to decisions of lower federal and state courts. The Courts of Appeals Each of the 12 regional circuits has one U.S. court of Appeals that hears appeals to decisions of the district courts located within its circuit and appeals to decisions of federal regulatory agencies. The Court of Appeals for the Federal Circuit has nationwide jurisdiction and hears specialized cases like patent and international trade cases. The District Courts Considered the trial courts of the federal judicial system, the 94 district courts, located within the 12 regional circuits, hear practically all cases involving federal civil and criminal laws. Decisions of the district courts are typically appealed to the districts court of appeals. The Bankruptcy Courts The federal courts have jurisdiction over all bankruptcy cases. Bankruptcy cannot be filed in state courts. The primary purposes of the law of bankruptcy are: (1) to give an honest debtor a fresh start in life by relieving the debtor of most debts, and (2) to repay creditors in an orderly manner to the extent that the debtor has property available for payment. Special Courts Two special courts have nationwide jurisdiction over special types of cases: U.S. Court of International Trade - hears cases involving U.S. trade with foreign countries and customs issues U.S. Court of Federal Claims - considers claims for monetary damages made against the U.S. government, federal contract disputes and disputed takings or claiming of land by the federal government Other special courts include: Court of Appeals for Veterans ClaimsU.S. Court of Appeals for the Armed Forces

Zara Research Study Essay Example | Topics and Well Written Essays - 3500 words

Zara Research Study - Essay Example Research has been made on customer service facilities offered by Zara and customers’ perceptions regarding this subject. Both primary and secondary data have been used for the study. Secondary data have been collected from different databases and existing literature published on past studies. Primary data have been collected by employing quantitative method of study. A sample population of 100 customers having shopping experience with Zara have been interviewed by distributing a structured questionnaire containing 5 close ended questions. The questions have been framed with the objective of understanding customer perceptions about customer service facilities provided by Zara. The secondary objective of this study is to investigate the relationship between age of customers and their perceptions. Responses of the participants have been measured in a five point Likert scale. The alternative hypothesis is that Zara provides satisfactory level of customer service. The responses are analysed using the t-statistic and the estimated value of t statistic is found to be sufficiently greater than the tabulated value. Therefore the alternative hypothesis is accepted. This establishes that customers have strong positive perception about customer service facility provided by Zara. It has also been found that compared to the youths, the middle aged population hold better perceptions about the company’s customer service. Zara is a famous international fashion brand. It is one of the eight store set ups of the Inditex Group, which is one amongst the largest retailers in the fashion industry in the world. The Inditex Group is an assimilation of approximately one hundred textile companies that conceptualize designs, manufactures fabrics and distributes them. The first shop of Zara was opened in the city of Coruà ±a in 1975 (Inditex, n.d.). Presently, the company has expanded its network to four hundred cities in eighty seven

Course work Coursework Example | Topics and Well Written Essays - 750 words - 6

Course work - Coursework Example The same actions that might be considered right in one single society may be unacceptable in another. Ethical deliberations helps to identify and try to understand any ethical obstacles. It is a person’s method of processing what is right or wrong in order to make a decision in order to take an action. A person will take into account their own values and beliefs, their emotions, and also ideas and principles. An individual will then undergo deliberation in which they process that information in a certain situation and even consider any other points of view. A person must use maturity and reasonable when coming to a conclusion during this process. A person must identify an ethical dilemma, consider their own emotions and beliefs, and then determine an action that the individual believes to be ethical. 2. Moral development is a way that a person’s morals and principles on how to treat one another and react to certain situations based on their growth. It is a process that occurs from infancy and throughout adulthood. Lawrence Kohlberg had a set of six stages to define moral development. The first two stages are under the label of preconventional morality and stage one is obedience and punishment. It is the first stage in moral development and applies to young children though some adults also may use this type of reasoning. It is at this stage that a child sees rules as something that is fixed and they follow the rules in order to avoid being punished. In stage 2, individualism and exchange, it is when a child considers their individual ideas and make a decision based on how it will benefit themselves. In the second level considered conventional morality, stage 3, interpersonal relationships refers to being a good boy or good girl. At this stage, a person wants to be nice and their actions are based on how it may affect relationships. A person is also concerned with expectations and roles of their peers. In stage 4, maintaining

Discuss The Contention That Conflict And Dispute Are Inevitable

Discuss The Contention That Conflict And Dispute Are Inevitable INTRODUCTION Conflicts as well as Dispute are for sure inevitable in most of the commercial projects whether big or small. To be precise, Conflict and Dispute is always there, not only in commercial projects but are a part of our daily life. There is always a conflict going on; on as big as on an international level like ongoing dispute between Israel and Palestine to small issues like a husband and wife having a confrontation as where to go out for dinner. Conflict in simple words can be defined as a disagreement over a situation between two or more parties/individuals where they have there own vested interests. Conflict is short termed and is easy to resolve, while on the other hand, dispute is when it becomes deep-rooted and none of the parties seems to be able to reach an agreement. Conflict can be resolved easily while on the other hand there is a need for a third party intervention to resolve a dispute, which itself is time-consuming, expensive and unpleasant. In other words, we can say that conflict can be managed, but to an extent of preventing it. If not, it leads to dispute. CLASSIFICATION OF CONFLICT Conflict can further be classified as Functional and Dysfunctional, depending on the outcome. Earlier, scholars believed that conflict is a bad thing and should be avoided at all costs, but this was contradicted by Mary Parker Follett (1925), who coined the idea that effective conflict management ought not to conceive conflict as a wasteful outbreak of incompatibilities, but a normal process whereby socially valuable differences register themselves for the enrichment for all concerned. Functional Conflict: It works towards the goal of a project. Mary Parker Follett (1925) called it Constructive Conflict, which increases the information and ideas, encourage innovative thinking, unshackles different point of views and reduces stagnation at any stage of the project. Dysfunctional Conflict: It is destructive in nature and blocks the project from reaching the goal. It brings tension, anxiety and stress for everyone involved. It drives out low conflict tolerant people form the project and reduces the trust for everyone involved, resulting in poor decision making arising due to withheld or distorted information and diversion of resources on the conflict rather than the project. Conflict, in general, can be dealt with by following three methods: Lose-Lose method In this, each side gives up some of its interests. This is done by Avoidance by staying away from the problem or withdrawing but it is not a permanent solution. The other option is Compromise which is done by bargaining and negotiating, in which each side looses something. Win-Lose method Also known as domination, in which there is a victory of one side over other and is done by Dominance where one party overwhelms the other party. Authoritative Command is another aspect where the person with authority rules in favor of one party. Win Win Method: Also known as Integration where each side refocuses there efforts so that neither side loses anything and in fact gains. This is done by finding the root causes of the problem, due to which conflict has arisen and then try to meet the interests of all the parties which in the end leaves everyone happy. TYPES AND LEVELS OF CONFLICT Intra-organization Conflict: As the name suggests, conflicts that occur within an organization, at the interfaces of organizational functions. It can occur along the vertical and horizontal hierarchy of the organizations i.e. between the managers and subordinates or between different departments and workgroups. Intra-group Conflict: It is between the members of a group, and is usually due to ways of doing the tasks or achieving goals. Inter-personal Conflict: It is between two or more people due to differences in opinions and views. This may also be due to differences in orientation to work and time in different parts of an organization. Intra-personal Conflict: It is more of a psychological issue. It occurs within an individual, when a person feels threatened to ones values, has a feeling of unfair treatment. Inter-organizational Conflict: It is between two or more organizations, when they are working together, especially on a project. It is not related to competition. Typical example can be that of a conflict between a supplier and distributor. CONFLICT AND DISPUTES ARE INEVITABLE Conflict and Disputes as mentioned are an unavoidable part of any commercial project by the virtue of the nature of the project. Any commercial project involves a variety of transactions as well as relationships on a local, national as well as international level. Due to the complexity of a commercial project involving client, consultant, contractors, subcontractors and suppliers it becomes inevitable. There can be a number of issues for ambiguity between different parties like project delays, change in scope of work, payment issues, design issues, change in specifications, administrative problems, personal damages, inflation etc to name a few. Managers have to build up, nurture and maintain a network of relationships to make there projects a success. Project Delays: Time management is very crucial for any commercial project. All the activities in a project are lined up one after another and are interlinked. Any kind of delay in this causes the whole project to be delayed, affecting the cash-flow as well as ruining the relationship of all the involved. In many cases financial losses are also incurred by those involved due to delay caused by one of the involved. For example, project handing over got delayed due to delay caused by one sub contractor, and for which the main contractor gets penalized. This penalty he will try to distribute evenly between all his sub contractors, which in turn will not be accepted by those who have finished there scope of work on time, hence leading to conflict. Change in Scope/Specifications: Once everything had been finalized, any change in the scope of work or change in specifications can have a direct impact on the financial as well as the lead time of the project, which can result in the conflict between the parties involved. For example for a project, contractor has already procured some material, or has outsourced a particular job, but when asked to incorporate those changes by the client/consultant, he suffers a financial loss or he has to change the supplier with whom he has placed the order to meet the required specifications. Payments: Conflict can arise due to delay in payments either by one of the parties involved in the project, due to financial crunch or because there has been some delay or there is some defective performance in terms of quality by the other. Whatever the case maybe, it disrupts the cash-flow whole project, affecting parties involved e.g. If a contractor doesnt pays to a sub-contractor, he in turn cannot make the payments to his suppliers as well as employees and defaults, which directly affects the progress of the project leading to conflict between the sub-contractor and the contractor. Administrative Problems: It is another issue for conflict arising due to mismanagement or lack of coordination between different agencies involved, which lead to project delays, cost over-run which in turn results in loss for the project. For example, in a project, scope of work of two sub-contractors is interdependent. If there is no coordination between them, it will result in unnecessary delay for the project. Conclusion: The above mentioned are a few aspects of conflict which are common in any commercial project, whether its a construction, development or an IT project. From here we can infer that conflict is a set of inter-related elements namely: parties, issues, dynamics and context. Since it is very difficult in any commercial project, involving large number of players, to maintain a balance between all these elements, conflict becomes inevitable. Conflict if taken in a positive note, and if resolved appropriately, can leads towards betterment and successful delivery of a project. If not they lead towards dispute which itself is unpleasant, diverts valuable resources from the overall aim, is time consuming, costly and destroys the relationship between those involved which may have taken years to develop. Dispute at all cost should be avoided and should be resolved still when its at a level of conflict. DISPUTE RESOLUTION TECHNIQUES IN A COMMERCIAL CONTRACT In any commercial project, there is always discrepancy/disagreement regarding the scope of work, deadlines, etc which leads to conflicts and when they get out of hand, leads to Dispute. Disputes in general, in a commercial contract are addressed to by the following three methods: Negotiation Mediation Arbitration Negotiation is a tool by which we deal with our differences. These differences may be over the price of everyday grocery, or an automobile or a labor contract or maybe an alliance between the two companies. In general as per the academicians and theorists, there are two types of negotiation theories namely Positional Negotiation and Principled Negotiation. While in positional negotiation, negotiation is done in such a way that the other party looses its faith in its own case and submits to the first demands of the first party, in Principled negotiation, a softer approach is taken to reach a solution. It is based on the following principles: Separate people from Problem, Focus on interests, not positions and Invent options for Mutual Gains. Mediation on the other hand gets the involvement of a third party (neutral) to resolve the outstanding issues and helps them to reach an agreement. Unlike negotiation, it is somewhat semi-formal, with the outcome may or may not be binding to the parties, as per the agreement. In case of Arbitration, it is a formal, private form of an Alternate Dispute Resolution. Here the disputed parties refer to one or more persons (arbitrator or an arbitrator tribunal), who in turn reviews the facts and gives the decision which is legally binding on both the parties. The major difference between Mediation and Arbitration is that mediator always tries to reach a compromise while an arbitrator gives decision which is lawfully binding to both the parties. While Negotiation is very common and is used frequently as compared to Mediation and Arbitration, Mediation is the fastest means to as compared to the other two options. The cost incurred is solving the dispute is highest in Arbitration but depends on number of factors, but still, as compared to Mediation and Negotiation. While Arbitration is recognized by common law and the decision made by an arbitrator will uphold in court of law, this is not true in case of Mediation and Negotiation, but depends on the mutual agreement of the disputing parties. However, if agreed beforehand, the agreement reached via Mediation can also be binding for all the parties involved. Apart from these, Litigation is another dispute resolving technique, to which the disputing parties can resort to. This is a formal process in which the case of the disputing parties is taken to the court and the proceedings are held in public. Compared to Negotiation, Mediation and Arbitration, Litigation is a Slow, time consuming and a very expensive process, where the trials are held in public and there is no scope for confidentiality. THE POTENTIAL USE OF PRINCIPLED NEGOTIATION IN THE INDIAN CONSTRUCTION INDUSTRY Negotiation is a tool used by means of a dialogue between the two or more parties to resolve issues, bargain or to satisfy ones vested interests which can be broadly classified into needs, aspirations, fears and desires. Negotiation is classified into two types: Positional Negotiation Principled Negotiation Principled Negotiation is a relatively new phenomenon, which was coined in late 70s by Fisher and Ury. They gave four basic principles for the Principled Negotiation which are as under-. Separate people from the Problem Focus in interests and not problems Invent options for mutual gains Select among options by using objective criteria Charles G. Fields has described Principled Negotiation as a 7 elements framework namely Interests, Options, Legitimacy, Communications, Relationships, Commitments and Alternatives. INDIAN CONSTRUCTION INDUSTRY AND PRINCIPLED NEGOTIATION After agriculture, construction sector is the largest industry in India. India being a developing country and estimated to become the third largest economy by 2025, and with an economic growth rate of almost 7%, there is a huge demand for the infrastructure and construction projects. Every year, Billions of US$ are spent, both by public and private sector on construction and infrastructure protects. As the construction market is growing by leaps and bounds, so as the conflict and dispute, which then go to the court of law (litigation) to be resolved. The judicial framework of India moves at a very slow pace and is very expensive, and hence there is a need for an alternative. Principled Negotiation, on the other hand is much less time consuming and expensive as compared to litigation and also the relationships between the parties are also not destroyed and consequently the disputing parties reach to a satisfactory agreement. Due to this, not only Principle Negotiation technique but Alternate Dispute Resolution Techniques have a good potential in India. REFERENCES AND BIBLIOGRAPHY: Conflict [online], available: http://webhome.idirect.com/~kehamilt/ipsyconf.html [accessed 10 September 2009] Gray, C. and Larson, E (2008) Project Management: The Managerial Process, 4th ed., Boston: McGraw-Hill. Fisher, R., Ury, W. and Patton, B. (1991) Getting to Yes: Negotiating an Agreement without giving in, Second Edition, Century Business, London. 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