Joint Ventures within the UK Construction Industry

Added on - 04 Oct 2020

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Has the increase in JointVentures within the UKConstruction Industry reducedthe requirement for formalDispute Resolution?
Table of ContentsCHAPTER 1: INTRODUCTION..............................................................................................................41.1 Background to the research.........................................................................................................41.2 Aim of research...........................................................................................................................41.3 Objectives of research.................................................................................................................41.4 Research objectives.....................................................................................................................51.5 Rationale of research...................................................................................................................51.6 Significance of investigation.......................................................................................................51.7 Scope of research.........................................................................................................................61.8 Limitations of the study...............................................................................................................61.9 Dissertation structure...................................................................................................................7CHAPTER 2: LITERATURE REVIEW...................................................................................................72.1 Introduction.................................................................................................................................72.2 Meaning of dispute resolution.....................................................................................................82.3 Formal and informal method of dispute resolution.....................................................................92.4 Issues involved in formal dispute resolution.............................................................................102.5 An increase in Joint ventures in UK Construction industry has reduced requirement ofadjudication.....................................................................................................................................12CHAPTER 3: RESEARCH METHODOLOGY.....................................................................................133.1 Introduction...............................................................................................................................133.2 Research design.........................................................................................................................143.3 Research philosophy..................................................................................................................143.4 Research approach.....................................................................................................................153.5 Research technique....................................................................................................................153.6 Sampling....................................................................................................................................163.7 Data collection.........................................................................................................................163.8 Data analysis..............................................................................................................................173.9 Ethical consideration.................................................................................................................183.10 Validity and reliability.............................................................................................................18CHAPTER 4: DATA ANALYSIS..........................................................................................................194.1 Introduction...............................................................................................................................19
4.2 Descriptive statistics..................................................................................................................19Regression Analysis........................................................................................................................24CHAPTER 5: FINDINGS AND DISCUSSION.....................................................................................25CHAPTER 6: CONCLUSION AND RECOMMENDATIONS.............................................................276.1 Conclusion.................................................................................................................................276.2 Recommendations.....................................................................................................................28REFERENCES.........................................................................................................................................30APPENDIX..............................................................................................................................................34
TOPIC: Has the increase in Joint Ventures within the UK Construction Industry reduced therequirement for Formal Dispute Resolution?CHAPTER 1: INTRODUCTION (1000)1.1 Background to the researchWith booming economy and competitive world, it is quite natural to have opposinginterests, values and needs. Having such conflicts can act as problems and affect the overallbusiness setup as well. Conflicts can be harmful when they take the shapes of disputes. Theycannot be ignored as they can cause real damage and bring a business at the verge of standingstill in terms of revenues, profitability and growth (Lumineau and Oxley, 2012). The situationcan be quite stressful and physically and psychologically draining. The process can be quite timeconsuming and destroy the relationship in between business partners.Dispute resolution is the method which is generally adopted by trained neutrals so thatpeople who are in dispute can clearly communicate, involve in negotiation as well as developand evaluate solutions. It also helps in resolving the conflicts that may be occurring in betweentwo parties. It is an interdisciplinary field that can be attracted through the background of humanresources, social work and law. Generally, there are certain mechanisms that are used to resolvethe disputes. These methods are arbitration, mediation, negotiation, collaborative law, litigation,conciliation and facilitation. Adoption of these methods can help in ensuring that conflictsbetween the two parties can be sorted out (Duca, Rule and Loebl, 2012).However, in Joint Venture construction companies of UK, informal method of disputeresolution has been becoming quite common due to various benefits attached to it. Since, it isless time taking process with maximum benefits of valid results to both the parties, the method ismore preferable by the companies (Sohn and Bal, 2012). It also helps them to continue theirbusiness relationship in longer run. Further, their concern can be kept private without disclosingit to general public which helps in making it more preferable method of dispute resolution.1.2 Aim of researchThe main aim of present study is:“To assess that whether an increase in Joint ventures within the UK Construction industry hasreduced the requirement of formal Dispute Resolution”4
1.3 Objectives of researchBased on the above aim, following objectives can be performed:To assess the concept of formal and informal dispute relationship processTo analyse the benefits of not getting involved in formal dispute resolution processTo assess that whether an increase in Joint Ventures within the UK Construction industryhas reduced the requirement of Formal Dispute ResolutionTo recommend the methods of adoption of various informal dispute resolution1.4 Research objectivesBased on the above objectives, following research questions can be framed:What is the concept of formal and informal dispute resolution process?What are the benefits of not getting involved in formal dispute resolution process?Whether, an increase in Joint ventures within the UK Construction industry, has reducedthe requirement of formal Dispute Resolution?What are the recommendations on methods of adoption of various informal disputeresolution?1.5 Rationale of researchIt is important to have specific relevance to the research that an investigator is involved inconducting. Hence, it must hold some worth that thereby helps in serving specific purpose. Itbecomes important for the researcher to go through practical as well as academic aspects ofresearch before finalizing the topic for particular research. The present investigation is based ondispute resolution method and its adoption by various joint venture construction companies inUK. Increasing adoption of informal dispute resolution method helps in ensuring that the processis not time consuming and decisions can be made as per suitability of both the parties that areinvolved in it. Another important aspect is to prepare an assessment of its prevalence in thecountry so as to judge its adoption level (Susskind, 2017). There are various researchers whohave been involved in conducting research on this topic which has generated the requirements toanalyse it in different manner. Hence, it will be helpful in preparing an assessment for presentand future researches as well. It will help in developing and improving current knowledge aspectpossessed by the researcher on stated topic.5
1.6 Significance of investigationInformal and formal dispute resolution have been able to become an important aspect thatholds adequate importance to be understood and applied on various businesses of the country.With increase in number of companies functioning in the country, there can be adequatedifference in them due to presence of different needs and requirements. The problem withdisputes is that it cannot be ignored and hence, it becomes important for the parties involved toignore it. In this scenario, litigation can be an option, but due to never ending trials and variouscourt cases that are already pending, it become tedious to opt for it. There are various informaldispute resolution methods that can actually be assessed and implemented so as to reach at validas well as agreeable conclusion (DuBois and Zografos, 2012). There are various benefits ofconducting research on this topic that are attached to it. Some of them are mentioned as below:Academically:The topic tends to hold greater importance in academic terms. There are variousaspects that are attached to dispute resolution which are required to be analysed and assessed bythe researcher. It will help in making knowledge related to current subject matter concrete.Hence, researching on present topic will prove to be quite helpful in developing the overallknowledge aspects.To ascertain risks:There are various risks that are involved in adoption of formal or informalmethods of dispute resolution. It helps in ensuring that all of them have been taken intoconsideration that can ultimately help in reaching to specific results. Hence, understanding thisrisk also plays an important role in the adoption of dispute resolution methods.1.7 Scope of researchThe overall scope of research is quite wide in terms of present study. It will help inanalysing various factors that are attached to dispute resolution methods. Hence, the presentresearch has been conducted based on joint venture construction companies of UK whereimportance of getting involved in informal dispute resolution has been assessed. A small sectionof UK that is joint venture construction companies have been chosen so as to conduct the presentresearch.1.8 Limitations of the studyThere are various limitations that are attached to present research which may ultimatelyobstruct the researcher to reach to the results. Since, it is difficult for the researcher to conduct6
study with utmost perfection, there can be certain constraints that are attached to it (Talesh,2012). One of the major concerns are related to time and budget which are available in front ofthe researcher. It is important that adequate amount of capital investment is available with theresearcher so that all important tasks with respect to conduct research can ultimately beconducted by researcher. It helps in coming up with effective and efficient outcomes. Budgetconstraints can deviate the overall results and can also barricade the knowledge of researcher.Since, research is a prolonged process, inadequate availability of time can affect its overalloutcomes. Another important limitation that can be presented here is related to unavailability ofadequate amount of secondary data due to restricted access to certain websites. It is necessary forthe researcher to complete research in specific time frame. It can lead to bring adequate deviationin results, conclusion and recommendation aspects of the research.1.9 Dissertation structureIt is important to follow specific structure of the dissertation which helps in makingunderstanding aspects effective for both readers and researchers. Hence, structure for presentdissertation will flow in the following manner:Chapter 1: Introduction:It is the first and foremost chapter of dissertation which helps inframing aim, objectives and background study of research. It helps in presenting the overall ideaof investigation.Chapter 2: Literature review:It helps in collecting secondary data related to subject matter.Critically analysing the views of different authors is the main aim of conducting literature review(Singer, 2018).Chapter 3: Research methodology:It helps in discussing tools and techniques that will be usedto conduct the research. It plays a substantial role in describing, sampling, data collection andanalysis methods.Chapter 4: Data analysis:It helps in analysing data that has been collected by the researcher inprimary format.Chapter 5: Findings and discussions:This chapter is responsible for creating findings anddiscussing collected data with the help of both primary and secondary data collected with respectto subject matter.7
Chapter 6: Conclusion and recommendations:Based on the overall research conducted,ultimate concluding remarks and recommendations can be given by the researcher based on aimand objectives framed (Mulcahy, 2012).CHAPTER 2: LITERATURE REVIEW (3000)2.1 IntroductionAfter introduction, literature review is considered to be one of the most important chaptersof dissertation which helps in defining the observation and analysis that must be prepared by theother researchers on similar topic. Critically analysing the facts helps in understanding the flawsand differences that can ultimately be settled down in the present study. Since, it is a secondarytype of research, it is important to consider each and every result that has been stated by theresearcher in his research. Based on the themes flowing from general to specific, literaturereview will help in understanding each and every aspect that is related to subject matter of theresearch. Hence, thematic analysis has been performed for the same.2.2 Meaning of dispute resolutionAccording toGoldberg and et.al., (2014)dispute resolution is the process of resolvingdisputes in between parties. The term can also interchangeably be used for conflict resolution,where different conflict styles can be adopted as per the scenarios. Some common methods thatare adopted by the organization include arbitration, mediation, negotiation, litigation,collaborative law, conciliation and facilitation. Theoretically, one can adopt war and violence asone of the spectrum, but dispute resolution practitioners generally do not opt for this method.The process of dispute resolution can be in two states, such as, adjudicative as well as consensualprocesses. Adjudicative processes can be in the form of judge, jury and arbitrator whichultimately helps in determination of effective outcomes. There are consensual processes presentwhich can also be used by the organization as well as individuals at the time of disputes. Theseare negotiation, mediation and conciliation. Not all types of disputes tend to end in resolution,rather, such intractable disputes tend to find its place in dispute resolution studies. Disputeresolution is an important aspect that is generally opted for international trade which can beinclusive of negotiation, arbitration, mediation and litigation.However, in comparison to this, as per the views ofWahab, Katsh and Rainey, (2012)legal system has tendency to provide resolution for various types of disputes. Some of them opt8
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