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Decision Making on Mega Project

   

Added on  2020-05-16

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Running head: DECISION MAKING ON MEGA PROJECTDecision Making on Mega ProjectName of the Student:Name of the University:Author Note:

1DECISION MAKING ON MEGA PROJECTIntroductionThe considerable growth in Australian businesses has invited many countries to conduct businesswith the help of greater innovation and infrastructure. In current scenario, it has been observed that theAustralians are enjoying access to the commendable infrastructure services that are fruitful in enhancingthe quality of life. However, due to the frequent changes in the country, it is expected that the businesspractices and the infrastructure would also transform drastically in next 15 years. Moreover, as opined byWiewiora, Keast and Brown (2016), the current advancements in the cities are also influencing thebusiness organizations to develop greater infrastructure for the future prospects. The study would thuspresent the concerns regarding the necessity of developing infrastructure in cities. Furthermore, theeffectiveness of the infrastructure on shaping the economy and social aspects would also be discussed. Inaddition to this, the important issues would also be identified in Sydney for the city planning in the future.DiscussionOver the years, the transformation in the business technicalities is shaping up the future of thecountries. Urbanization is a common term that provides the insights regarding the current developmentsin the city planning with the help of world class infrastructure and advanced technologies. Australia is oneof those developed countries that have been using the innovative and greater infrastructure to facilitate theinnovative city planning. Recognizing the growing rate of the population in Australia, it is expected thatthe population would grow over almost 30 million by the year of 2031. It is notable that the growth in thepopulation rate helps in increasing the economic values. According to Love et al., (2015), the growth inthe population provides the opportunity to get access to the greater domestic market, facilitate thedevelopment of innovative ideas, and increase the size of the workforce. However, on the contrary, it iseven increasing the demands of the stakeholders in a larger scale. It has been placing the additionaldemands on regions and cities. The economic structure and the innovative urbanization in Australia arequite opportune for the business markets. The multinational corporations require the effectivetechnologies, greater infrastructure, and adequate resources for shaping up the social and economicstructure. Henckel and McKibbin (2017) suggested that economic development and urbanization areclosely intertwined. The business marketers are now looking forward to expand their business in othercountries to increase the revenues for business. They usually select the countries with higher economicand social impacts. Building the infrastructure is quite beneficial for the businesses to develop theinnovative practices with the help of the advanced technological equipment. In fact, currently,government is also concentrating on developing the infrastructure to invite the other countries forestablishing business entities. The increasing rate of the foreign revenues, import and export

2DECISION MAKING ON MEGA PROJECTdevelopment, and growth in the trade businesses would contribute to the increasing rate of the economicstructure. According to Maghsoudi, Duffield and Wilson (2016) infrastructure is conceptualized as thephysical framework of involved facilities through which the services and products are delivered to thepotential customers. The linking of the infrastructure with the economic and social aspects is quitecomplex and dynamic. It has been observed that it affects the consumptions and production of the goodsand services directly and creates both the positive and negative spillover effects. Goldthau (2014) arguedthat a larger expenditure inflow is involved with the infrastructure building and creates the impacts on thebusiness practices. It can be interpreted the economic growth depends on the helpful infrastructurefacilities, especially for the foreign business marketers. For example, in Australia, the emergence of theurbanization and development of the remarkable infrastructure facilities attract the foreign businessmarketers. On the other hand, the growing population in Australia is contributing to the economic andsocial growth by developing the business industries in a commendable way. More innovativeinfrastructure helps in transforming the business technicalities as the business marketers are prone toutilize the innovative methods (Wiewiora, Keast & Brown, 2016). The infrastructure planning inAustralia suggests that the business industries are focusing on facilitating a comprehensive package forreforming the process of investments, delivery, and utilization of the nation’s infrastructure. Thereformation in the legislative policies is much helpful in shaping the economic and social structurethrough the infrastructure development. This infrastructure plan in Australia has been developed througha collaborative research and consultation process of 18 months. The Australian Infrastructure Audit isnation’s first comprehensive examination of infrastructure across the telecommunications, transport,energy, and water sectors (Infrastructureaustralia.gov.au. 2016). The audit report identifies that theeconomic growth of turning capital and labor inputs into outputs has considerably slowed down. Thedevelopment of the more efficient infrastructure can contribute to the betterment of this trend. Therefore,it is quite recognizable that the infrastructure shapes up the future of the nation both economically andsocially. In past few decades, the structural changes are found in the Australian economy. The growingcompetitive landscape and globalized labor market caused shifts in the workforce and developed thedemands for the mineral resources. The development of the infrastructure requires adequate supports andresources. The government needs to take the hands-on approach to lead the reform process. The dynamicculture and highly educated workforce are suitable enough for organizing the innovative businessfunctionalities. However, the lack of appropriate policy reform incentives is the considerable challengesin building the necessary infrastructure. The major challenges are found in shaping up the productivity

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