Recasting the Role of the Ceo Essay

In the case study, â€Å"Recasting the Role of the CEO†, Vineet Nayar, Nayar used messaging to communicate to his employees while focusing the organization’s efforts on creativity and innovation, that address change and the adaptive challenge. He was responsible for preparing the firm, its members, and stakeholders for the future by fostering innovation and creativity through effective messaging. He was able to accomplish this by implementing a portal for the employees called â€Å"MyBlueprint†, and also my merging with a company called AXON. Different Ways Messaging Was Used  Instead of holding a live Blueprint meeting, HCL decided to have all three hundred of their managers record their business plans, which would then be posted on the MyBlueprint portal. Once all of the business plans were posted, they’d be open for review by another eight thousand HCL managers. The idea was to transform the planning process into a peer-to-peer review rather than a top-down judgment. (Nayar, 2010). After reviewing a few recordings, Nayar noticed the plans improved and were more efficient because the managers knew they would be reviewed by a larger number of people than in previous years. The managers were more honest in their assessment of current challenges and opportunities, and they talked more about the actions they would take to accomplish certain goals, as opposed to, what they hoped to accomplish. (Nayar, 2010). This internal messaging of the MyBlueprint portal had a huge impact on the future and innovation of HCL, because it allowed for employees to help each other and point their colleagues toward a recording that might be useful to them. Many of the employees within departments were able to discuss their futures with a better understanding of what’s required of them, and it allowed for the managers to make new connections with one another. Comments were posted about strategies being used, and that provided the managers with new perspectives and ideas. When new employees were hired, they had a place they could go to learn what the team was trying to accomplish and why. (Nayar, 2010). Everyone at HCL felt they were a part of the thinking and planning process. When HCL merged with Axon, Nayar used the concept of sharing responsibilities with the employees and business units in this merger. Nayar understood that acquiring AXON was going to strengthen HCL and help them to grow faster, because they were the largest and most successful independent SAP consulting company. Nayar didn’t force AXON to integrate into HCL’s organization, because he was well aware of HCL’s weaknesses so he only merged HCL’s SAP organization into AXON. (Nayar, 2010). By doing so, this allowed for HCL AXON to become extremely successful and the company experienced a great deal of growth in nine months. After seeing the positive results and advantages of the merger, the HCL AXON leadership team ended up running many other parts of HCL. Also, since Nayar continued to use the â€Å"Employees First, Customer’s Second† approach with this merger, they were able to acquire four more successful acquisitions in that year alone. (Nayar, 2010). External messaging was used by proposing this acquisition deal with AXON to plan for a better future for both companies. This allowed for AXON to leverage HCLT’s brand, customers, solutions, and innovations amongst other things. Effectiveness of Internal and External Communication When the company decided to have the managers record their business plans, it enhanced innovation and creativity on all levels. It gave the managers an opportunity to really analyze the challenges they faced on their teams, and to come up with realistic solutions as to how they’re going to solve them. It also gave them the opportunity to come up with realistic goals and solutions for their teams. The flood gates of creativity opened due to the recorded plans, because everyone had the opportunity to view them, so it llowed for different insights on strategies that were currently being used, and opinions on new strategies that could possibly be beneficial to the teams. â€Å"By involving the employees and giving them more power, choice, and information, they begin to believe that they can influence different situations and their outcomes. † (Hickman, 2010). The messaging was also very affective with the HCL AXON merger because HCL was successful before they acquired AXON, but once they merged, that made HCL’s brand stronger and allowed for innovation. The HCL AXON leadership team was so effective; they took charge of running many other parts of HCLT businesses after nine months of the acquisition. The merger generated such powerful results that four more successful acquisitions were completed in that same year. Effectiveness in Using Messaging to Prepare the Firm, its Members, and Stakeholders for the future Nayar was very effective in using messaging to prepare the firm, its members, and stakeholders for the future. The internal and external messaging was very affective for HCL in both cases. It proved that when a CEO focuses less on governing and more on enabling, the executive can accomplish much that might otherwise have been too risky to undertake. (Nayar, 2010). When the managers at HCL were required to post their business plans on the MyBlueprint portal, this was a form of workshop that allowed for all of HCL’s employees to be involved in, and discuss challenges and solutions that can be put into action. This also created a deeper understanding of each teams projects/tasks and how they fit into the overall objective of the organization. The managers now feel as though they have a sense of direction and they have the support of management as well as their peers. By using this form of messaging, it encourages the employees to communicate with their team members. Nayar was also effective with external messaging in reference to acquiring AXON. By acquiring the largest, most successful independent SAP consulting company in the world, this strengthened HCL and it allowed for them to grow. This acquisition prepared their employees, customers and stakeholders for the growth opportunities that were about to take place, whether it was internally or externally. Conclusion: Nayar had a responsibility to prepare his firm, its members, and stakeholders for the future. He was successful at this by fostering innovation and creativity through effective internal and external messaging. He found a way to communicate to the employees through a portal called â€Å"MyBlueprint†, which promoted innovation and creativity through an abundance of feedback from the organization. And he acquired a company called AXON which propelled HCL’s brand to new heights, and allowed for lots a growth and new business.

Early year’s child care Essay

Being able to motivate members of staff is a progression towards this. As Mayo found with his workforce, if the staff felt valued, they were more willing to work harder and longer for their manager. Motivating the staff is by no means a simple task, as it means utilising a balance of both people and interpersonal skills. These skills can be grouped into various management styles and each member of staff will require the manager to adapt the style according to their own personality. The setting, which is the subject of this work, provides a good example of the various styles of management needed in order to supervise the workforce. One member of staff is very carefree and relaxed in her work and therefore needs an autocratic, or coercive management style. She is, however, always willing to do as she is told and thrives on carrying out instructions as they are given. Were the manager to employ a laissez-faire approach here, the jobs allocated to this member of staff would not get done. To examine this in more detail, just one of the manager’s duties is to ensure that craft supplies are adequately stocked. As with many of the manager’s tasks, this is one that can be delegated to another member of staff. This particular worker is given this task to do and due it being given to her as a direct instruction, she is happy to proceed with enthusiasm and little procrastination. If, however a more laissez-faire approach were used, she could feel that the task was not important and may leave it until such a time as she chose to do it. These skills and qualities of the manager are familiar with Herzberg’s (1968) two factor theory of motivation. He recognised that offering staff the opportunity of achievement, recognition, involvement, responsibility and empowerment, is the path to true motivation (Dale, 1992). This is the opinion of Ridderstrale and Nordstrom. In early years leadership it is particularly important. The manager constantly has to implement change, often following government legislation. It is the role of the manager, as the leader to ensure all staff members can adjust to these new implementations, instead of clinging on to methods previously followed. The manager of the chosen nursery has an effective method of executing change. If the change has occurred at nursery level, the chances are it has arisen and been discussed during a staff meeting. If the changes come from elsewhere, for example, a government paper, the manager would first address the urgency of the change, before deciding on a course of action. The agenda for meetings is always displayed onto a notice board for all the staff to view. If the change is one that does not require immediate action, it will be added to the board, next to the agenda. However, should it be necessary to act immediately, then a meeting will be called, either with all the staff, or with individual members accordingly.

Going Green To Save The Environment Essay

The purpose of this essay is to enumerate and discuss several ways to save the environment through the principle of green living. Conservation is really an umbrella principle for all of green living. It really means using only what truly needs to be used in order to save something for coming generations (Green Living Ideas, 2007). Conserving energy by way of recycling is a crucial environmental benefit. As the natural energy sources become scarcer it is important to learn how to save energy. Making smaller, more fuel efficient cars can help conserve energy. Riding a bike instead of a car is much better since a bicycle doesn’t use gas. Making new houses that are well insulated also helps to save energy. According to Seventh Generation (2007), â€Å"Municipal Solid Waste (MSW), more commonly known as trash or garbage, consists of everyday items such as product packaging, grass clippings, furniture, clothing, bottles, food scraps, newspapers, appliances, paint, and batteries. This is commonly generated from peoples’ homes, but it also comes from commercial, institutional, and industrial sources. † One man’s trash is another man’s treasure† is among the many adages being revived with fresh significance and recycling supports this idea. It has been in the American vocabulary for years now and in many households it is a way of life. Very simply, it finds new uses for old materials, mainly trash. According to the Environmental Protection Agency, recycling, including composting, diverted 72 million tons of material away from landfills and incinerators. Not only does this spare the environment, the EPA said a study found that recycling can create jobs as well. The consumer-oriented economical and environmental merits of reuse were easily recognized by our grandparents. And even today having a jar of salvaged nails, bolts, and screws can save several trips to the hardware store. Recycling paper products saves our trees and water resources as well! Making a ton of paper from materials that were recycled protects 17 trees from harm and consumes 50% less water, or 7,000 gallons (Quest4glory, 2004). But, while the philosophy of reuse is working its way into the business sector, the complexities of a global economy demand that the practical advantages and disadvantages of reuse be continually discussed and evaluated. However, industrialized nations are coming full-circle: governments are passing regulations, businesses are cutting costs, and consumers are reducing waste in the realization that applying the reuse philosophy in all areas will help to sustain our comfortable quality of life, enhance it for others, and maintain it for future generations. Furthermore, the most appealing reason to recycle is because of its ability to create a myriad of jobs, which can consequently improve the US economy. Recycling creates eight times the amount of jobs incinerator and landfill companies generate. Reuse, recycling, and waste reduction offer direct development opportunities for communities (Quest4glory, 2004). In conclusion, the benefits of recycling and conservation of energy cannot be overemphasized. Technology is making it easy to be green. Renewable energy can make your home more efficient. Efforts to clean up our air and water, preserve our non-renewable resources, and stop endangering plant and animal species, will ultimately lead to happier, healthier humankind living in partnership with the earth. Reference Green Living Ideas. (2007). Reuse. Retrieved on September 7, 2007 from http://greenlivingideas. com/reuse/reuse. html Quest4glory. (2004, July 5). Recycling: It’s time to clean up. Retrieved September 7, 2007 from http://www. echeat. com/essay. php? t=26204 Seventh Generation. (). Living Green: Reduce, reuse, recycle. Retrieved September 7, 2007 from http://www. seventhgeneration. com. /living_green/reduce_reuse_recycle. php

Research about Andre Crouch (famous gospel singer) Paper

About Andre Crouch (famous gospel singer) - Research Paper Example He was a vocal arranger for LA recording sessions and was quick to infuse the much needed gospel sounds into the songs. He worked with various artists, perhaps picking their styles to create a unique intonation for his music. His gospel music genius can perhaps be seen by listening to his songs such as He’s Worthy, Can’t Nobody do me like Jesus, Man in the Mirror, The Force behind the Power, and Let the Church say Amen (Jones 83). Besides composing gospel sons, crouch is also the author of the best selling and an award-winning book Playing God: Redeeming the Gift of Power, among other books that have been acclaimed internationally. Andy was the senior editor of Christian today, a magazine that majorly talks about Christianity and perception of people about religion in the contemporary times. He has directed religious documentary videos as well as a number of missionary works all over the world. He served as a senior board member of Fuller Theological Seminary, Christian organization concerned with child exploitation in Southeast Asia and Haiti. He has contributed in a number of articles tackling diverse topics ranging from religion to economy; politics to social warfare. He is rightly referred to as the founder of modern gospel. He did help to bridge the gap between black American and White churches (Reed 23). His signature style is the slow and tuneful gospel music that has mostly be mistaken to be secular. His spiritual growth was inherited from his father, a staunch church founder who greatly influenced Crouch’s spiritual growth Although he is dead, Andrew Crouch will be best remembered for his role in black American gospel music. He influenced Americans in every simple way possible. He was charismatic and perhaps helped to bridge the gap of the racial divide that has been part of American identity for a considerable length of time. He communicated through his song in a unique way than others of others before his time. He

Semantic Web + Parallel Distributed data Research Paper

Semantic Web + Parallel Distributed data - Research Paper Example In tally, the Semantic Web is devoted to offering an info distribution model and platform that is suitable for both machine and human to comprehend and collaborate. Cognitive web search engines are one of the introductory structures that permit processor PC systems to spontaneously become intuitive and artificial intelligent over Semantic Web data conferring to some implication rules. Diverse neurodata sources and warehouses commonly use diverse data models and stock heterogeneous data. In the dynamic data federation method this is addressed concurrently to the glitches of data basis heterogeneity and data delivery. It depends on on the central federator, and a set of data suppliers. Given an exceptional inquiry, the federator is accountable for the intelligible sub-querying of the confederated data sources and for uniting all outcomes originated into a universal outcome set. This evades dependability and harmonization or synchronization subjects commonly witnessed in data stores whe re data alteration is done sporadically. Another related research associated to semantic web language includes is the active use of programmes algorithms which focus on the principle of the algorithms comprising of iterating codes over and over each in the design forming a triple pattern in the initial SPARQL query. Subsequently, The World Wide Web Consortium (W3C) has commended and normalized an amount of codes or values, web languages, and programmable web frameworks and the best performances which permit and allow the communication between the numerous metadata into a more understandable format for the next-generation web, that is, the Semantic Web. As a researcher, the assumption that the programmers have a comprehensive control over the machines in which the data is handled, then one is able to manipulate the queries and offer a commendable output on in iterative and interactive end user interface for examination and conclusion. Ultimately, the distribution and querying of data storage using high data base schemas is an appropriate approach towards implementing essential management of distributed semantic web data. Numerous semantic web requests need the incorporation of records from dispersed, independent databases. Pending to recent techniques it was relatively problematic to access and request for data in such a scenario since there was no customary request semantic or machine interface. The introduction of the SPARQL, and the W3C school endorsement for an RDF query semantic and procedure, this condition has altered. It is now conceivable to brand RDF data obtainable and accessible over a normal PC interface and request for it by means of a customary query semantic. The data does not require to be kept in RDF but can be generated on other interactive databanks. On the other hand, DARQ suggests a sole interface for enquiring on the numerous, dispersed SPARQL end-points and varies inquiry confederacy to the customer. A unique important characteristic of DARQ is that it exclusively depends on the SPARQL custom configuration and consequently is well-matched to several SPARQL endpoints applying this standard. Utilizing facility images delivers an influential way to enthusiastically add and remove endpoints to the inquiry engine in a way that is totally translucent to the end user. To decrease performance costs we present straightforward inquiry optimization for SPARQL inquiries. The web has developed a major automobile in executing research and instruction related

Should governmet impose trade sanctions Essay Example | Topics and Well Written Essays - 250 words

Should governmet impose trade sanctions - Essay Example This means restricted import and export. Trade sanctions result in deprivation of the people from the things and services they need. This helps create a tension within the country on national level wherein the government feels obliged to adhere to the moral and ethical expectations of the other countries so that the trade ties can be opened with them and people can be provided with the things they need. Trade has a direct impact on the economy of a country. The more the trade, the stronger the economy. Imposition of trade sanctions breaks the backbone of a country by bringing its economy down. In an attempt to restore the strength of their economy, countries change their policies for the better. Imposition of trade sanctions, if use constructively, can help change the world by reducing crime, violence, corruption, and genocidal occurrences. However, in order to bring about the optimal results, a number of countries should unite in their policy of trade

Discovering Art, Design and Cultural Movement Essay

Discovering Art, Design and Cultural Movement - Essay Example Through intensified interaction especially with the advanced telecommunication, technologies in the contemporary society the world became a global village in which people freely share cultural values. The manifestation of a culture is in its art, arts represent the society as the people observe their actions and relations and capture such in such works of arts as music, paintings and sculptures among others. Cultural movement on the other hand refers to the distinctive change in the way in which the different disciplines in the society approached their work. With time, the human societies developed thus adopted newer mindsets. With every progressive development, the cultures of the societies changed thus compelling great changes in the manner in which the people approached their works and formulated their relations. Among the great tenets of the cultural movements were arts. Throughout the history of humans, art has often exhibited great intellectual prowess among the people. In such different times, leading artists used distinct technologies to influence the development of the art thus portraying the society more evidently to their diverse audiences. The development of art and its manifestation in the representation of the society was always a representation of the developments in the society. ... The period was marked with great religious influence of the early Christian society. The church wanted to use art as a means to increase its spread and influence. To achieve such, the Roman Catholic employed the great minds in arts such as Michelangelo and used their minds to influence the consumption of products of arts by the common public. During this definitive period, arts targeted the common public and the artists provided as much information about their work as possible. Unlike in the renaissance period in which artists such as Leonardo concealed their messages in artistic sophistication, the baroque period was characterized with detail and provision of as much information about the artifact as possible. Michelangelo as the epitome of arts at the time sought to gain more relevance with the masses. His choice of models was specific, as urbanization had just began in the early Roman society. He used street models such as prostitutes who posed for him in his paintings. One of his greatest paintings for the Roman Catholic was the death of Marry, which just as most of his works he uses the locals as models and employs the commonly available features of the population to influence the population’s understanding of the church and its teachings. In the painting, Marry, Jesus’ mother is a depiction of a local prostitute in the street who models to him. The woman is dressed in normal clothes used by the poor who lived in the neighborhood and targeted by the church in their campaign in an attempt to regain the confidence and sympathy of the people. The tactic worked as the church received more sympathy from the populace. While the Roman Catholic achieved their primary

Analysis of news article in relation to macroeconomic concepts Term Paper

Analysis of news article in relation to macroeconomic concepts - Term Paper Example It is important to strengthen the Canadian economic vision that is built on innovation and knowledge, which is driven by a diverse and successful university sector (Yusuf & Nabeshima, 2012). Using this approach, the Canadian government can fully realize the contributions made by universities, especially those that are business-engaged. This paper aims to discuss the role that universities can play in growing the country’s GDP and in decreasing the rate of unemployment. Universities at the Center of GDP Growth A permanent hike in university funding, for instance, by use of taxpayers’ money, could emerge, as a cornerstone for the government to increase Canada’s GDP. A report by the Universities of New Zealand and NZIER concluded that an increase of government investment in universities would lead to a permanent and significant increase in the country’s GDP. In illustrating how increased funding would affect the economy, they modeled an additional $200 millio n in university research and funding over the next five years (Yusuf & Nabeshima, 2012). ... The Canadian government, at present, invests just more than $1 billion every year in universities with a similar amount supporting university students financially (Yusuf & Nabeshima, 2012). The Canadian government increased investment levels significantly in education following a report by KPMG Econ Tech in 2009. The report called, for increased university funding, to boost the Canadian productivity levels nationally by 4.6% by the year 2040. The same report also estimated that the implementation of these recommendations could also add up to 6.4% to the GDP. It is important for the government to increase university learning and teaching base funding by 10% by 2020 and ensure that they maintain internationally competitive funding levels (Yusuf & Nabeshima, 2012). It could be expected that implementation would do more for living standards and GDP than any single reform that is publicly identified and costed. Boosting university investment could lead to a more skilled and smarter, work force and improve wealth distribution that would reduce the two-speed economy problem where there is a boom in some sectors while others continue to struggle. The cumulative benefit to the treasury from these reforms taken over the period between 2010 and 2040 is projected at $325 billion, which is the public funding that is required for Canada’s major future needs (Yusuf & Nabeshima, 2012). This information also confirms that investment in universities from the government will continue to provide a dividend in productivity for many years to come. Expanding university reach in Canada is central to the productivity agenda fronted by the Canadian government. In this century, the

What does it take to become a successful leader in today's business Research Paper

What does it take to become a successful leader in today's business world - Research Paper Example An essential requirement for the business leader of today is to clearly understand major societal and environmental forces that shape business. Central in creation of value is knowing where and how to respond to societal demands in terms of the daily running of business. This calls for s strong sense of vision and emotional intelligence. The core of leadership in business still remains; leaders should be able to motivate employees, inspire and foster the spirit of teamwork among the people they lead so as to achieve common business goals. But the business environment has undergone tremendous changes in the past few decades presenting new management challenges to the business of today. They have to work in an environment with more challenges and expectations while leading teams in accomplishing the set business objectives. The implication of all these is that the modern business requires more than managers; people who can lead by vision and create the working environment in which the common vision is shared by everyone one involved. With the evolving purpose of the business leadership role, modern leaders must approach their work with a different perspective, lead change across & beyond the boundaries of business and effectively work in collaboration with relevant stakeholders in achieving the missions (Gitsham and W ackrill, 2012). A leader in the modern business world must keep up with developments in technology. Technological trends especially in business are evolving at the speed of lightning and this renders even a management tool that rocked the business world just in the past few years completely obsolete. Some leaders may face great challenges but keeping the pace would mean taking advantage of technological tools to the competitive benefit of the firm. The leader should be capable of utilizing tools such as social media and at the same time an environment in the firm where technology

Criminal Law as a product of Social Engineering Essay

Criminal Law as a product of Social Engineering - Essay Example When the number of inmates the various prisons also increases as a result of the high rate of crimes, then the catering of these inmates becomes another head-ache of the government. All these things do not allow governments especially in developing countries to be able to use the scarce resources they have on more useful and profitable things which will bring them more income to be able to develop their economies. This when studied further will in a long term becomes another cause of crime. This is because when a country's economy is very poor there will be no jobs for the citizens hence poverty will be on the increase. These citizens therefore in an attempt to be able to earn some money to feed themselves and their families tend to engage in criminal acts. This makes the whole process become more or less a viscous circle. The governments not only will not be able to generate more revenue to improve their economy ,but also they will not be able to provide the basic amenities all thei r citizens may need. these include good drinking water,electricity,medical services and so on. When it comes to the social effects crime has ,it is quite obvious that communities where crime rates are high ,the younger generations or citizens grow up to become very violent people .This is because they are e always surrounded by violence and this affects them psychologically. It makes them believe in nothing else but violence and illegal ways as the only way to get what they want. They have not even the slightest idea about what peace is really about or even what the laws of their country are and their significance. If a country or community has its younger generation who are supposed to be the future leaders of that community have such a character and wrong perception, you would agree with me that that community really has a lot to do to have a good future. Social engineering as labeled above as a very important issue in the combat against crime ,can be described as the use policies that are base don the findings of social science to deal with social problems of which crime is no exemption. Policies made by governments come in different forms, but the one that comes to light in this context is the regulatory policies. This policies as the name implies, are meant to give limits to individuals and co-operate bodies in their decision making and actions. These policies when made serve as a guideline or step to step actions or procedures the government needs to follow in order to be able to achieve a set goal. Before policies are made, various things are taken into consideration ,these include the purpose for which the policy is been made. These is when the governments need the ideas of the experts in the specific sector within which the policy is been made. that is whether it is an education, health, est. policy. When it comes to policies o f social engineering ,the ideas of experts in the social sciences are needed in order to structure out the policies in such a way to be able to achieve its set goal or purpose .Social science involves of how groups of people behave ,often in effort

SUMMERY CULTURE OR EDUCATION EVENTS Essay Example | Topics and Well Written Essays - 500 words

SUMMERY CULTURE OR EDUCATION EVENTS - Essay Example By the 20th century, ballet dance had become a concert dance with many version coming up. There are different ballet styles including the classical ballet based on the traditional French accomplishments and movements. Neoclassical ballet shares many feature with the classical style except that it involves higher speed tempos and application of modern technical feats. Contemporary ballet contains a lot of modernity influence in terms of art; however, its fundamentals are based on traditional moves but permits a greater range than the classical style (Wolf, 1998, p44). Holi festival is celebrated during the spring; it is the festival of colors and love for one another. The festival originated with the Hindus but soon spread among non-Hindus outside Asia. However, its impact is felt in regions of the world dominated by the Hindus. The celebration starts with a Holika bonfire during the night and the next day is a free for all to play with points. Both men and women, boys and girls, old and young play with the paints. The fight with paints everywhere and anywhere irrespective of social status or age is a fair game. Greetings are in the form of playing with points. The word Holi have its origin from the name Holika who was sister to demon king Hiranyakashipu who were burnt by Vishnu symbolized by the bonfire (Ester, 2009, p34). The celebration have cultural significance of bringing people together, it is a day that marks and end to past quarrels and rebuild the broken bonds, people pay debts, forgive debts as well as enter into new deals with family members. The origin of shaolin art can be traced back to the three forms of self-defenses of Asian origin, The Shaolin Temple where the art is called temple boxing or just boxing. The monks had developed five fighting stances attributed to unique animal behavior; they include the crane, tiger, snake, leopard and the dragon. Yoshida and Komatsu clans of Japan stances and movements together with

Sarbanes Oxley Act of 2002 Essay Example for Free

Sarbanes Oxley Act of 2002 Essay Descriptions of the main aspects of the regulatory environment which will protect the public from fraud within corporations are going to be provided in this paper. A special attention to the Sarbanes – Oxley Act of 2002 (SOX) requirement; along with an evaluation of whether Sarbanes-Oxley Act will be effective in avoiding future frauds based on their implemented rules and regulations. The main aspects of the regulatory environment are based on the different laws and regulations the different governmental institutions such as federal, state, and local developed to create control over business practices. The regulatory environment creates a positive business financial operational environment as well as efficiency in management, integration of capital flow and domestic savings. For instance, the Securities Act of 1933 which provides regulations and laws to those offering corporate stocks to the public (University of Phoenix, 2014). Another regulatory environment is the Securities Act of 1934. The Securities Act of 1934 regulates and uses laws for trading stocks on markets that are consider as secondary markets like the New York Stock Exchange. The Securities Act of 1933 also provides the requirements for financial reporting and auditing for corporations (University of Phoenix, 2014). When looking at the history of the business environment regulatory compliance has been part of the process of conducting business. In addition, in most industries the different organizations are going to find different rules and regulations that are presented by the government, requiring companies to follow them. In the event, these are not followed the business will be confronted with penalties for not following the regulations that are clearly defined by the government. As time progresses, many regulations were created to help and prevent fraud against the public. Some of these regulations include the requirement of state filing, and laws to create fair lending to the public. An example of this is the Securities and Exchange Commission also known as the SEC. The SEC is a major aspect of the regulatory environment. â€Å"The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation † (SEC, 2013, para. 1). In today’s environment, many are utilizing the market as a way to secure their future. The way to secure the future is by purchasing and paying for a home, pay for children college tuition, as well as any  other expenses. As investors, it is important that the SEC does protect these individuals. According to the SEC (2013) â€Å"the common interest of all Americans in a growing economy that produces jobs, improves our standard of living, and protects the value of our savings means that all of the SECs actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth† (para. 4). The U.S. Securities and Exchange Commission (2013) states â€Å"the laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it† (para. 6). To ensure this rule is followed by ever organization the SEC requires public companies to make the appropriate financial state available to the general public. Making this statement public, future investors as well as current investors can clearly see and determine whether or not the investor wants to purchase, sell or hold an investment. The SEC (2013) also states â€Å"the result of this information flow is a far more active, efficient, and transparent capital market that facilitates the capital formation so important to our nations economy† (para. 7). The SEC is proactively working with other major markets that participate in environmental securities to certify that this guideline is being followed. One of the SEC functions is to supervise the participants in the area of securities world. The securities would include the areas of securities exchanges, securities brokers and dealers, mutual funds as well as investment advisors. Another function the SEC provides is the promotion of disclosure of market related information and to maintain appropriate dealings. In addition, as a yearly procedure the SEC submits civil enforcement actions to those individuals and companies violating any of the securities laws. The infractions can include accounting fraud, trading misconduct, and providing deceptive as well as false information in regards the company’s procedures or securities. In doing this yearly event and disclosing market related data, it allows the SEC to protect companies and individuals against fraud. The SEC is an organization that works closely with other institutions to ensure rules and regulations are implemented and followed by the public. Some of the institutions that work with the SEC include Congress, self-regulatory organizations such as stock  exchange, federal departments, the state securities regulators, and different private sector. The Securities and Exchange Commission is one of the main regulatory environments that assist to protect the public from fraud that a corporation can commit. Another regulatory environment that collaborates with the enforcement of the rules and regulations is the Sarbanes – Oxley Act (SOX). The Sarbanes – Oxley is a regulatory act â€Å"passed by Congress in 2002 in response to a series of massive corporate frauds (i.e., Enron, WorldCom)† (University of Phoenix, 2014, p. 3). When Congress passed the Sarbanes-Oley Act, it was â€Å"to provide greater protections to investors, creditors, and other stakeholders† (University of Phoenix, 2014, p. 3). SOX will provide greater protection by â€Å"reducing unethical corporate behavior† (University of Phoenix, 2014, p. 3). The SOX play a major function with the SEC because not only this also helps protect the public from fraud a corporation can commit, but because this can provide solutions to issues, the SE C is confronted with based on fraudulent accounting practices. A scandal and major concerns on how American Corporations are governed was the Enron and WorldCom scandal of a series of massive corporation frauds. As a result, the Public Company Accounting Reform and Investor Protection Act of 2002 were developed. The act was established to improve transparency, and to create new standards for accounting firms, for management at senior level, for executives, and for board members of public companies. According to Corporate Secretary (2014) a condition this act present is that companies are required â€Å"to have robust internal control systems that can be built into their compliance processes to promote integrity and accuracy within their business operations (para. 2). With the passing of the Public Company Accounting Reform and Investor Protection Act, Congress intent was to help reduce unethical behavior and to eliminate future corporation scandals. As a result of the creation of the Public Company Accounting Reform and Investor Protection Act the penalties for fraudulent financial activities are more severe (Corporate Secretary, 2014). The Sarbanes – Oxley Act has played an important role in the regulatory environment which will protect the public from fraud within corporations. Even when this act has played an important role it is clear the implementation of the act by legislation is not going to solve the problem of fraud. However; with the implementation of The Sarbanes – Oxley  Act, of The Securities and Exchange Commission, The Securities Act of 1933, and The Securities Act of 1934 it has assisted with minimizing fraud as well as to create transparency when companies are following rules and regulations presented by the gover nment. References Corporate Secretary. (2014). Ten events that have changed corporate governance. Retrieved from http://www.corporatesecretary.com/articles/regulation-and-legal/12277/ten-events-have-changes-corporate-governance/ University of Phoenix. (2014). Week 1 Study Guide: Introduction to Financial Reporting. Retrieved from University of Phoenix, ACC561 Accounting website. U.S. Securities and Exchange Commission. (2013). The Investors Advocate: How the SEC Protects Investors, Maintains Market Integrity, and Facilitates Capital Formation. Retrieved from http://www.sec.gov/about/whatwedo.shtml U.S. Securities and Exchange Commission. (2013). Codification of Staff Accounting Bulletins. Retrieved from http://www.sec.gov/interps/account/sabcodet1.htm

Enron Accounting Scandal: Changes to SAS 99

Enron Accounting Scandal: Changes to SAS 99 The Enron accounting scandal is one of the most shocking nightmares in the professions history. Enron rises to success quickly after its establishment in 1985. However, despite attracting huge share prices, the company files for bankruptcy in December 2001 and its share value plummets from $92 to $0.67 within a span of one month. The question that most stakeholders still have is how such a huge company, one of the most promising in the United States, comes crumbling down overnight. The underlying problem in Enrons case is the lack of sufficient accounting oversight to ensure that the figures executives post reflect a true and fair view of the companys position (McLean Elkind, 2003). Massive deregulation and the lack of an independent accounting firm to audit Enrons books helps to keep the con going for years. Though the company starts failing in the late 1990s, it is not until late 2001 that the world realizes what is going on behind the scenes. Main players in the scandal including CEO Jeffery Skilling, Enron former CEO Kenneth Bay and innovative CFO Andrew Fastow are all convicted of insider trading and fraud related charges. Arthur Andersen LLP, the accounting firm that fails report Enrons misrepresentation is closed and convicted for obstructing justice, though this conviction is overturned. The SEC works with a tight regulatory framework looking to prevent companies from pulling stunts like the ones in Enrons case. However, there are loopholes that allow Enron to thrive. Among them is a mechanism that allows companies to influence the progress of their share values on the stock market. Mark-to-market accounting allows Enron to peg its share value on the market price, rather than the value reflected on its books(Collins, 2006)On top of this, allowing companies to hedge their stock using SPVs in the balance sheet represents a failure in preventing companies from unfairly influencing the progress of their stock value. These are only basic aspects that Enrons exploits, but there is a bigger safeguard of them all, an independent audit firm. Arthur Andersen LLP fails in its obligation to provide a true and fair view of Enrons operations. This allows the company to continue its fraud over an extended period of time. At this time, rather than report to the board of directors, t he audit firm directly reports to the company executives, which limits its independence significantly, as well as introduce a loophole in the mechanism that allows executives to perpetuate their own interests at the expense of the shareholders (McLean Elkind, 2003). Changes to SAS 99 Communication of potential fraud: SAS 99 improves look to ensure that there is greater oversight against corporate fraud. As a result, the reporting framework has been expanded to include more than just management. The board of directors and other stakeholders are now more engaged in the communication of fraud process (Thomas, 2002). Furthermore, the obligation of the independent auditor has shifted and they now cover a wider stakeholder scope, which means that offering information to management alone is not enough. Failure to provide a thorough breakdown of the audit to other stakeholders now amounts to a failed engagement. Fraud risk factors: auditors heavily rely on information that they gather in the course of an engagement to make a decision about the nature of a companys financial statements. However, revisions to SAS 99 means that they can now establish ways to detect fraud by assessing the audit environment. That is, auditors can rely on more than just the financial information that a company presents to determine whether or not there is any misrepresentation in the information sent to the public or board of directors. Greater auditor independence: SAS 99 reviews what is expected of an independent auditor in the course of an audit engagement. The greatest transformation that occurs to SAS in this regard is to distinguish the role of management from that of auditors. Initially, there is a small line between the auditor and management to the extent that the auditors are allowed to have other interests that are connected with management. What this change in the standard does is to eliminate the conflict of interest by drawing a line between these two key stakeholder groups when it comes to preventing accounting fraud. Greater independence not only comes because of regulations, but also a greater scope in the number of stakeholders that auditors report to (Thomas, 2002). Clients illegal operations: SAS 99 does provide a new perspective when it comes to reporting illegal acts that the audit discovers are conducted by the client. Initially, failing to report these acts fell under the jurisdiction of criminal justice and was labelled as obstruction of justice. However, SAS 99 offers a fresher approach to the issue by outlining procedures and obligations of an auditor when it comes to reporting and handling perceived illegal operations by the client. Therefore, for the first time, the auditor does have a responsibility under accounting principles when it is suspected that there are illegal acts by the client. References Collins, D. (2006). Behaving Badly: Ethical Lessons from Enron. Dog Ear Publishing, LLC. McLean, B. Elkind, P. (2003). The Smartest Guys in the Room. New York: Portfolio Trade. Thomas, W. (2002). The Rise and Fall of Enron. Journal of Accountancy. Retrieved from http://www.journalofaccountancy.com/issues/2002/apr/theriseandfallofenron.html

Strategies to Meet Energy Demands in the UK

Strategies to Meet Energy Demands in the UK 1.0 Introduction The question of how Britain will be able to meet its energy demand in the next 10 10 years is a matter of concern for the British Government. With aging nuclear plants, replacing these with cleaner and more energy efficiency plants is going to be a challenge. This dissertation aims to investigate the governments proposals to construct a new generation of nuclear plants and rely more on renewable technologies, whilst meeting the energy demand in next 10 20 years and cutting C02 emissions. 1.1 Aims If Government proposals for new nuclear plants and renewable technologies will be able to meet Britains energy demands 1.2 Objectives Is the current proposals the only answer Can they meet their targets of cutting C02 emissions whilst meeting demand Will they be able to construct the nuclear plants on time Have all issues been addressed, such as safety concerns when considering constructing the nuclear plant. Should renewables have a bigger contribution 1.3 Rationale The British Government have been concerned with the gap of meeting the British demand in the next 10 20 years. With aging nuclear plants and questions surrounding what is going replace these, and the commitment of meeting targets to cut C02 emissions. The government has proposed to build a new generation of nuclear power stations and rely more on renewable energy to meet these demands. The conversational decision on this issue has raised further questions on whether this will be enough to make sure Britain does not suffer power black outs in the medium term. Experts in the nuclear sector have also questioned the proposals in terms of are these nuclear plants going to be build on time, who is going to pay for these plants and will the design be right to avoid any health and safety issues. Other plans that the government proposes includes relying more on renewable energy to meet demand. Heavy investment will be needed to meet this target and it remains to seen if this will be enough to meet the demand. 2.0 Literature Review 2.1 World Energy Demands Energy is fundamental in how we all lead our lives. As the years goes by and the higher the world population grows, this means that global demand for energy can only increase. The UN has predicted that as of 2005, 6.5 billion made up the worlds population, and this could grow up to 9.1 billion within 45 years (Asif and Muneer 2007). If the worlds population reaches this figure, then the world is going to face a challenge to meet the energy needs of all of these people, especially with the emerging nations such as China, India and Brazil. 2.2 Energy Usage We use energy in all ways of life and we use them in a number of ways. Areas that energy is used includes Buildings Industry Trasport Buildings Buildings consume over 60% (International Energy Outlook, 2009) of energy produced around the world. Buildings are split into domestic householders and commercial buildings. Domestic buildings usage includes space heating, lighting, air conditioning, ventilation, and general electrical appliances. The volume of the property will determine its final energy consumption. The bigger the property, the more heating and lighting it will need to make it into comfortable surroundings. For residential buildings, the physical size of the structures is one key indicator of the amount of energy used by their occupants (International Energy Outlook) Commercial buildings can include offices and government buildings such as schools and hospitals. Commercial buildings are of a similar nature to domestic buildings, but will be to a much bigger scale. For example, an office could consist of a dozens or even hundreds of computers, compared to maybe one in a domestic house. Industry Industry consumption uses around 29% (International Energy Outlook) of the total energy produced around the world. Industry energy usage includes manufacturing metals, chemicals, materials and agriculture. The industry uses the energy it receives to operate manufacturing assembly lines, processing, space heating and lighting. Transport Transport uses the vast majority of oil that is consumed around the world. Transport energy accounts for cars, trains, planes and lorries. In comparison with the other energy sectors, the transport is largely constricted to oil and cannot operate with the other fuel options. In IEA (International Energy Agency) countries, the transport sector is taking an increasing share of oil demand (Taylor) 2.3 Threats to World Energy Supply As the demand for energy grows, the threat of not producing this energy increases. 2.3.1 Fossil Fuels Fossil fuels currently produce the majority of our energy needs and take many forms. Developed countries use oil, gas and coal and all of this fossil fuel usage heavily contributes to climate change because of the C02 emissions that they produce. Developing countries will use firewood etc and in comparison to the developed countries, the developing countries will produce alot less C02 because of their methods of producing energy. As well as the effects of the fossil fuels, the fuel reserves will decrease as the years and decades go on, particular since the demands for fuels will only rise. The security of getting these fuels is also a concern because of the political divides in the Middle East, where the biggest oil fields are. The political differences between the EU and Russia are also a concern because Russia is biggest exporter to the EU. The energy policies of Britain and France take these threats into account and are putting in place measures to reduce the threat. The threats t hat Britain and France predict is the increasing importation of these fuels, at the same time as demand goes up and the political strains increase. Our increasing reliance on imports of oil and gas in a world where energy demand is rising and energy is becoming more politicised (Meeting the energy challenge, 2007). 2.3.2 Oil Out of all of the fossil fuels, oil is the most precious and scarce. It is the primary source that we use to power our transportation system, to produce energy and used to make many different types of products. The worlds energy demand is expected to grow by 45% in the next 20 years; therefore, the demand for oil is expected to rise by 26% over the same period. Even if we do maintain the optimum amount of oil production over the next 20 years, it is very unlikely that the energy demands will be meet by oil. Oil Prices The issue of the oil peak production and its decline is much debated and opinions vary from a number of sources. One thing that is certain is that oil is not a re-newable fuel and as demands for energy increases year by year, production for oil will increase and this will deplete oil reserves more quickly. The steady growth of spot oil price exploded suddenly in the second halve of 2007: in only twelve months, the price of oil nearly double from $74/barrel on July 2007 to $147.27/barrel on July 2008 (Matutinovic, 2008.) This was a huge hike in a short space of time, caused by the demand from China and India, together with unrest in the Middle East were the main reasons. This increase in price however was short lived and to the present day is back to a manageable price. However, in the future the price will increase and stay there due to a number of factors. Energy demand going up, meaning that supply and demand will be squeezed. The political unrest in unstable regions where the largest oil reserves are As the price of oil increases, so will the price of energy and we this may become uncontrollable over the long term. Security of Oil As mentioned before, the majority of oil reserves are contained within unstable regions or countries and countries that have political issues with the most developed countries. This includes the Middle East, which holds the most of the oil reserves and is almost always unstable. As the developed countries own oil reserves decrease, the importation of oil will increase from these regions and if the regions were to decline further, this may affect security of supply of the energy needs of these countries. The most important implication of such distribution of proven oil reserves is that future oil increasingly dependence on politically instable Middle East (Matutinovic) 2.3.3 Gas In the past natural gas was not used globally to produce energy and by domestic householders. It is becoming increasingly important to meet energy demands around and in particular, the EU region. As with the issues with oil, gas reserves in the European Union and USA regions are dwindling and these regions are fast becoming increasily reliant on Russia and Middle East for their supplies. The UK in particular as a large proportion of its power produced by gas power stations and this has been addressed within their energy policy of the intention to decrease the importation of gas in the long term. However, in the short medium term it is anticipated that Europes dependence on gas will go from 36% up to in 69% (Weisser H, 2005) even with the issue of climate change, as natural gas is less pollutant than coal and oil. Looking at Russia, by far the biggest supplier, for analysing the security of supply equation one has to account for the fact that this countrys energy policy is not only d etermined by economic interest but a least equally by geopolitical, foreign policy and security consideration (Weisser). Political Issues The country with the most natural gas reserves is Russia. As each year goes by, the EU will have to import gas from Russia more and more. The political relationships between Europe and Russia are not the best. This was brought about by the dispute between Russia and the Ukraine over the gas supply. This in turn reduced the supply to Europe, as the pipe goes through the Ukraine to supply Europe. This brought tensions between the EU and Russia, since then Russia has threatened the supply to Europe and dramatic price increases. Apart from the Russia, the Middle East is the second biggest exporter and like oil, is vulrable to political unrest and this may affect supplies to their customers. Gas Prices Gazprom is the biggest gas provider in Russia and world. With demand for gas going to increase in the coming years, this will give the power to increase prices to the EU and other regions. If this were to happen, this would lead to higher costs for the UK to produce power and this would lead to higher power costs for domestic householders. The price of gas will also have to increase to fund investments to find new gas fields and pipes that transport the gas. The main reason for dual gas pricing has been to provide a gas subsidy to the Russian economy. (Spanjer A, 2007) 2.3.4 Coal Coal was the first significant fossil fuel to be used by humans and was the spearhead for the industrial revolution. It is used by both developed and developing due to its availability and value Consumption Developing countries use 55% of the world consumption of coal, which includes China and India. It is predicted that this is going to rise to over 65% in the morelonger term. The availability of coal is vast, which is the primary reason why it is used so much. It is found all over world, including vast reserves in the UK. It is predicted that if the current trend of excavating coal were to continue, it may take up to a few hundred years to exhaust the earths supply. As the coal reserves are spread all over the world, this gives an advantage to the other fossil fuels of providing a greater security of supply. Because of the inevitable decline in world reserves of petroleum and natural gas and rising demand for energy, coal is a major alternative along with nuclear power to meet these meets. (Yilmaz A O, Uslu T, The role of coal in energy production Consumption and sustainable development of Turkey, Energy Policy 35, 1117 1128, page 1, 2007) Cleaner Coal In the future, it is anticipated that cleaner coal power stations are to be constructed as coal is seen as a fuel that will meet the energy demand for the medium term. This is seen as a way of meeting the energy demands because of the reserves of coal offering a much higher security of coal, but also a way to reduce the emissions that coal gives off when used to produce energy. 2.4 Climate Change The issues that are associated with climate change go back over one hundred years when scientists were discovering that greenhouse gases were interfering with the atmosphere. Over the course of history to this present day, the understanding of climate change has jumped dramatically over the past 10 years and scientists are beginning to see the potential effects that may have on the earth if we do not tackle the roots of the problem. 2.4.1 Energy Production Energy production accounts for the vast majority of the green house gases that is produced. Energy accounts for over 80% of the global anthropogenic GHGs (Quadrelli R, The energy-climate challenge: Recent trends in CO2 emissions from fuel combustion, IEA, Elsevier, page 2, 2007). These green house gases are a direct result from using fossil fuels in producing energy. The world energy supply is still very much dependant on fossil fuels to produce the energy needs for the world population, even with the growth of renewable energy. As stated before, the worlds energy demand is expected to grow significantly over the next 20 30 years as a direct consequence of a rising world population and the rapid development of China and India. 2.4.2 C02 Emissions All fossil fuels contribute to green house gases, some more than others however. Coal is the biggest contributor of C02 emissions and this will just increase as coal becomes more popular, especially with China and India. An Energy production accounts for the vast majority of the green house gases that is produced. Energy accounts for over 80% of the global anthropogenic GHGs (Quadrelli R, The energy-climate challenge: Recent trends in CO2 emissions from fuel combustion, IEA, Elsevier, page 2, 2007). These green house gases are a direct result from using fossil fuels in producing energy. The world energy supply is still very much dependant on fossil fuels to produce the energy needs for the world population, even with the growth of renewable energy. As stated before, the worlds energy demand is expected to grow significantly over the next 20 30 years as a direct consequence of a rising world population and the rapid development of China and India. 2.4.2 C02 Emissions All fossil fuels contribute to green house gases, some more than others however. Coal is the biggest contributor of C02 emissions and this will just increase as coal becomes more popular, especially with China and India. An increase of C02 emissions in the last 35 40 years has been substantial and the total amount of C02 emissions due to burning of fossil fuels reaches to about 26 billion tons. (Saito S, Role of Nuclear Energy to Future Society of Shortage of Energy Resources and Global Warming, Journal of Nuclear Materials, Elsevier, 2009). These countries will have to find a guaranteed supply and this fuel will become cheaper than oil and gas over the longer term. These countries will have to look to coal to meet its energy demands for its growing population. If the projections are correct, coal will become more popular amongst the developed nations. This will increase green house gases and that is with the policy of constructing clean coal power stations. The oil and gas sectors will still have a very important part to play in the long term, but it is projected that dependence on these fuels will decrease slowly as the price goes up and the security of supply is not guaranteed. 2.4.3 Biggest C02 Producers The biggest polluters seem are the countries with the biggest economic development, the rapid development of some countries meaning a higher energy demand and the countries population. The United States was the biggest polluter due to its economic power and industrial size. However, as China has grown rapidly, this has pushed it to become the worlds biggest polluter. This is because China has seen significant economic growth and has required it to increase its energy production to meet its industrial growth. 2.4.4 Affects of Climate Change The affects of climate change will be catastrophic if the current trend of C02 emissions continues. Climate Change threatens the basic elements of life for people around the world access to water, food production, health and use of land and the environment (THE STERN REPORT, Executive Summary (Long), page 6, 2006). Rise in sea levels The affect of the earth heating up will mean the two polar ice caps melting, making the global sea levels rising. This will mean that countries or regions with a low altitude could mean land being lost. Global sea rises will mean millions of people being displaced and having to find alternative areas to live. Vegetation areas These areas could change the whole global landscape, in terms of the areas where crops could be grown. This could mean areas where crops are grown just now, will not able to grow in the future and this again may displace millions of people, especially in the more developing regions such as Africa. Weather systems There is current evidence that the weather pattern is already changing. The likelihood of this worsening is very real if climate change is not tackled. This includes an increase in category 5 hurricanes, increased flooding and an increase in heat waves due to temperature rises. Temperature rises will also lead to sever forest fires in regions such as Australia and California. 2.5 Financial Implications of Climate Change As well as the physical implications of climate change, the financial consequences may well be as bad for all countries if climate change is not tackled and heavy investment put in place 2.5.1 STERN REPORT The STERN report was produced to assess the potential damage that climate change could inflict on economies around the world. The evidence shows that ignoring climate change will eventually damage economic growth (THE STERN REPORT, Executive Summary (Long), page 2, 2006). The report consists and focuses on a number of issues The affects of climate change on the economies The costs of putting in control measures to reduce the affects of climate changes The investment needed to change to an infrastructure that omits less C02 emissions The report highlights the relation of GDP in relation to the increase in temperatures. There seems to be a trend in that for every one degree that the temperature goes up, then 1 per cent of GDP is lost. As well as the GDP, the biggest affect that climate change could have on is the developing countries, particular Africa. The report highlights that the ability to grow crops will reduce and water supplies will decrease dramatically and this will displace millions of people. 2.5.2 Investment The STERN report also points out that investment is now needed to prevent much higher costs being incurred in the longer-term. The report comments that such investment should include the acceleration of cleaner and renewable energy. 2.6 Energy Policies Energy policies are produced by governments to help them plan their countries energy production for the long term, set targets for cutting C02 emissions and evaluating their methods of producing energy. 2.6.1 Contents of Energy Policies The contents of energy policies will wholly depend what country it is, how much GDP it produces and how confident they will be in making sure that they can meet their targets Energy Policies will usually contain the following Security of supply Evaluation of their current energy production methods Methods of making sure that they have sufficient ways in meeting demand Outline any new ways in producing their energy Ways in which they will tackle climate change Their policies of using renewable energy to produce power. 2.7 Renewable Energy Policies Renewable energy is essential for meeting the commitment to cut C02 emissions, to ensure the world can meet the energy demands, security of supply and eventually leading to cheaper energy in the long term in comparison with fossil fuel produced energy. Renewable energy technologies have increased dramatically in the last 5 years. Its essential to have renewable energy in a countries energy policy to help meet all these commitments. To the present day, 73 countries are thought to have included a renewable strategy within their policy. Between 2004 and 2008, over $120 billion of investment has put in place to increase the usage of renewables. Although this investment is substantial, it is predicted that that this type of investment will have to be spent every year to help renewables get to a level to produce energy to a stage where it can compete with coal and gas. While most renewable fuels are free, renewable energy projects have high up-front costs (Sawin J L, National Policy Documents, International Conference for Renewable Energies, page 5, 2004). Renewable Energy types include Solar Power Wind Power Hydro Geothermal Biomass Tidal Power 2.7.1 Wind Power Out of all of the renewable technologies, wind power is by far the most used around the world. Wind power was the largest addition to renewable energy capacity (Renewables Global Status Report 2009, REN21, page 11, 2009). Wind power comes in two forms either on shore or off shore. Wind power is particularly used throughout the EU due to its climate. Wind power production percentage throughout the EU varies, with Germany being the most productive country within the EU. 2.7.2 Solar Power At the end of 2007, solar power production accounted for around 0.5% of the power produced. As with the wind power restrictions, solar power is more effective where countries are better situated to get sun on a regular basis. Also as solar power is expensive to build in comparison to the more conventional power stations, this currently makes it unviable to construct until capital costs come down. 2.6.3 Other Renewables The other options of renweables make up a tiny proportion of energy production, in comparison to the wind and solar. Heavy investment is needed to bring these up to level where they will be seen as a potential energy source as the other options. 2.8 Nuclear Energy Nuclear power has is fast becoming one of the main sources of power for a few countries within the EU and the USA. Apart from the Western countries, nuclear power is fast becoming the one of the major sources of producing energy. There over 100 hundred power stations currently being built in Asia and alot more are being planned. Nuclear Power alone wont get us where we need to be, but we wont get there without it. (Abu-Khader M M, Recent Advances in Nuclear Power: A Review, Nuclear Energy 51, 225 233, Elsevier, 2009) 2.8.1 Production Nuclear power currently accounts for around for 14 per cent of the power produced around the world. It is expected that this will grow rapidly over the longer term as the worlds most developed countries construct more plants to meet energy demands. 2.8.2 Why Nuclear Nuclear power has big advantages over the current main sources of power production. Security of Supply Nuclears raw material is more readily available than other fossil fuels. This gives it a more guaranteed security of supply of generating the energy needed. Importing uranium is expensive to import, however it can be stored for several years and makes it less of a concern. Price Rises Nuclear power is less of risk of being the subject to a large price rise. This is because it is cheaper to run the power plant in comparison to gas and coal power stations. 2.14 Bar Chart Showing Predicted Price Rises for Each Fuel Type (Adamantiades A, Nuclear Power for Sustainable Development: Status and Future Prospects, Energy Policy 37 5149 5166, 2009) A doubling in the price of Uranium would cause a 5-6% increase in the total cost of generation, while a similar increase in the price of natural gas would lead to 65% increase in gasfired costs. ((Adamantiades A, Kessides I, Nuclear Power for Sustainable Development: Current Status and Prospects, Energy Policy, Elsevier, page 2, 2009). Climate Change As with renewable energy, nuclear plants produce little or no C02 emissions. As the world is becoming increasily concerned with climate change, severe cuts of C02 emissions are being set and nuclear is seen a key player in reducing these emissions. 2.8.3 Safety Concerns After the tragic accident at Chernobyl, it was understandable that nuclear power got a bad reputation around the world, with some countries even banning it altogether. However, since safety factors in constructing and operating a nuclear plant have improved greatly and the idea of nuclear power is taking off again. During the past two decades, nuclear power plants have also achieved increasingly higher capacity factors with the same or greater levels of safety (Adamantiades A, Kessides I, Nuclear Power for Sustainable Development: Current Status and Prospects, Energy Policy, Elsevier, page 12,2009). 2.15 Bar Chart Showing Fatalities by Fuel Type (Adamantiades A, Nuclear Power for Sustainable Development: Status and Future Prospects, Energy Policy 37 5149 5166, 2009) The most obvious risk of operating a nuclear plan is exposing the public to radiation poisoning, with Chernobyl being the best example. Strict measures are now in place to greatly reduce such a tragedy happening again. This includes conducting risk assessments and putting in control measure to reduce the risks. 2.8.4 Nuclear Waste The debate of nuclear waste was one the biggest obstacles for the new generation nuclear plants being constructed. Although the storage of nuclear is major concern, the technology is in place to manage safely and effectively. In comparison with the waste that fossil fuels produce, it is signifcently less. 3.0 Methodology My method of research was to use a mixture of both quantitative and quantitative research methods. 3.1 Quantitative and Qualitative Research The method of using quantitative is and will be limited, in comparison with the other forms of data collection. This has used up to this point for comparing statistics, figures and forecasts. This is based on using journals, government reports and reliable websites being used to gather this information to allow me to compare the above. It will be my intention to continue this form data collection when completing my dissertation The method of using qualitative will be the form of research that the bulk of dissertation will be based on. This is based on sources from journals, books, government reports, reliable websites, interviews and case studies. It will be my intention to continue with this form data collection when completing my dissertation. Journals This form of gathering data has helped me gather the majority of my information. I have gathered peoples perceptions, thoughts and opinions of this subject. Information gathered was mostly opinions in the form of text, graphs and diagrams. Government Reports This has allowed me to focus on the subjects that I need to concentrate to be able to answer my aims and objectives. Information gathered included factual statistics and text. Websites This form of sourcing of information allowed me to gather some of quantitative and qualitative information. I made sure that these websites were reliable websites and that the information was as accurate. Information gathered included graphs, statistics and text. 3.2 Interviews My intention is to organise three interviews with three different organisations. This is to allow 3 different opinions based on the subject of my dissertation. This will include getting opinions on people who are involved with the nuclear programme, the renewable sector and an organisation that represents somebody/something for which the nuclear plants or the rapid construction of renewables may have negative consequences. 3.2.1 Initial Contact and Organisations My initial contact to arrange interviews was via e-mail. I asked them for an interview by introducing myself, the reason for the interview and the topic of my dissertation. My first contact was Mr David Cameron, of the Scottish Renewables trust. He kindly agreed to an interview in his Glasgow based office and agreed that I would be in touch when I am ready to conduct the interview. My agenda for this interview is to get his views on the developments of the renewables sector, the developments of the nuclear sector and will this be able to meet the energy demand My second contact was Mr Peter Dobson, of Scottish and Southern Energy who are directly involved with the nuclear program within the UK. My contact with him came about because of the close relationship that my employer and SSE have. My agenda for this interview will be similar to my first contact My third contact I hope to be the Scottish Wildlife trust. I have still to make contact with this gruop. My agenda for this interview will be to get the developments on both nuclear and renewables development in the UK and how this could affect the British ecosystem. When it comes to conducting the interview, I will stress the confidentially is the most important issue when conducting this interview and will ask them to make me aware that a particular question can not be answered without their confidentially being breached. 3.2.2 Interview Technique and Agenda My intension is to make the interview semi-structured. This will allow me to prepare a set of questions that I will ask all three participants, with the possibly of other questions being prepared depending on the organization. By having a semi-structure interview, it will allow me to get the information that I will require, while allowing any other questions or conversations to happen during the interview, as some topics may come to light during the interview. I shall prepare the questions before the interview takes place and sent the interviewees the prepared question paper and the agenda beforehand. 3.3 Case Studies It will be my intention to focus on two case studies. One will be in the form of concentrating on one of the chosen nuclear sites. I will give information on the suitability of the site, the energy that will generated, the benefits of having this plant and the health and safety implications of having the plant at this location. The form of collecting data will involve the use of journals, construction information, site location, government reports on this site and information coming from interviews. My other case study will focus one of a key renewable project that has been constructed in recent times. I will give information on the characteristics of the site, the e Strategies to Meet Energy Demands in the UK Strategies to Meet Energy Demands in the UK 1.0 Introduction The question of how Britain will be able to meet its energy demand in the next 10 10 years is a matter of concern for the British Government. With aging nuclear plants, replacing these with cleaner and more energy efficiency plants is going to be a challenge. This dissertation aims to investigate the governments proposals to construct a new generation of nuclear plants and rely more on renewable technologies, whilst meeting the energy demand in next 10 20 years and cutting C02 emissions. 1.1 Aims If Government proposals for new nuclear plants and renewable technologies will be able to meet Britains energy demands 1.2 Objectives Is the current proposals the only answer Can they meet their targets of cutting C02 emissions whilst meeting demand Will they be able to construct the nuclear plants on time Have all issues been addressed, such as safety concerns when considering constructing the nuclear plant. Should renewables have a bigger contribution 1.3 Rationale The British Government have been concerned with the gap of meeting the British demand in the next 10 20 years. With aging nuclear plants and questions surrounding what is going replace these, and the commitment of meeting targets to cut C02 emissions. The government has proposed to build a new generation of nuclear power stations and rely more on renewable energy to meet these demands. The conversational decision on this issue has raised further questions on whether this will be enough to make sure Britain does not suffer power black outs in the medium term. Experts in the nuclear sector have also questioned the proposals in terms of are these nuclear plants going to be build on time, who is going to pay for these plants and will the design be right to avoid any health and safety issues. Other plans that the government proposes includes relying more on renewable energy to meet demand. Heavy investment will be needed to meet this target and it remains to seen if this will be enough to meet the demand. 2.0 Literature Review 2.1 World Energy Demands Energy is fundamental in how we all lead our lives. As the years goes by and the higher the world population grows, this means that global demand for energy can only increase. The UN has predicted that as of 2005, 6.5 billion made up the worlds population, and this could grow up to 9.1 billion within 45 years (Asif and Muneer 2007). If the worlds population reaches this figure, then the world is going to face a challenge to meet the energy needs of all of these people, especially with the emerging nations such as China, India and Brazil. 2.2 Energy Usage We use energy in all ways of life and we use them in a number of ways. Areas that energy is used includes Buildings Industry Trasport Buildings Buildings consume over 60% (International Energy Outlook, 2009) of energy produced around the world. Buildings are split into domestic householders and commercial buildings. Domestic buildings usage includes space heating, lighting, air conditioning, ventilation, and general electrical appliances. The volume of the property will determine its final energy consumption. The bigger the property, the more heating and lighting it will need to make it into comfortable surroundings. For residential buildings, the physical size of the structures is one key indicator of the amount of energy used by their occupants (International Energy Outlook) Commercial buildings can include offices and government buildings such as schools and hospitals. Commercial buildings are of a similar nature to domestic buildings, but will be to a much bigger scale. For example, an office could consist of a dozens or even hundreds of computers, compared to maybe one in a domestic house. Industry Industry consumption uses around 29% (International Energy Outlook) of the total energy produced around the world. Industry energy usage includes manufacturing metals, chemicals, materials and agriculture. The industry uses the energy it receives to operate manufacturing assembly lines, processing, space heating and lighting. Transport Transport uses the vast majority of oil that is consumed around the world. Transport energy accounts for cars, trains, planes and lorries. In comparison with the other energy sectors, the transport is largely constricted to oil and cannot operate with the other fuel options. In IEA (International Energy Agency) countries, the transport sector is taking an increasing share of oil demand (Taylor) 2.3 Threats to World Energy Supply As the demand for energy grows, the threat of not producing this energy increases. 2.3.1 Fossil Fuels Fossil fuels currently produce the majority of our energy needs and take many forms. Developed countries use oil, gas and coal and all of this fossil fuel usage heavily contributes to climate change because of the C02 emissions that they produce. Developing countries will use firewood etc and in comparison to the developed countries, the developing countries will produce alot less C02 because of their methods of producing energy. As well as the effects of the fossil fuels, the fuel reserves will decrease as the years and decades go on, particular since the demands for fuels will only rise. The security of getting these fuels is also a concern because of the political divides in the Middle East, where the biggest oil fields are. The political differences between the EU and Russia are also a concern because Russia is biggest exporter to the EU. The energy policies of Britain and France take these threats into account and are putting in place measures to reduce the threat. The threats t hat Britain and France predict is the increasing importation of these fuels, at the same time as demand goes up and the political strains increase. Our increasing reliance on imports of oil and gas in a world where energy demand is rising and energy is becoming more politicised (Meeting the energy challenge, 2007). 2.3.2 Oil Out of all of the fossil fuels, oil is the most precious and scarce. It is the primary source that we use to power our transportation system, to produce energy and used to make many different types of products. The worlds energy demand is expected to grow by 45% in the next 20 years; therefore, the demand for oil is expected to rise by 26% over the same period. Even if we do maintain the optimum amount of oil production over the next 20 years, it is very unlikely that the energy demands will be meet by oil. Oil Prices The issue of the oil peak production and its decline is much debated and opinions vary from a number of sources. One thing that is certain is that oil is not a re-newable fuel and as demands for energy increases year by year, production for oil will increase and this will deplete oil reserves more quickly. The steady growth of spot oil price exploded suddenly in the second halve of 2007: in only twelve months, the price of oil nearly double from $74/barrel on July 2007 to $147.27/barrel on July 2008 (Matutinovic, 2008.) This was a huge hike in a short space of time, caused by the demand from China and India, together with unrest in the Middle East were the main reasons. This increase in price however was short lived and to the present day is back to a manageable price. However, in the future the price will increase and stay there due to a number of factors. Energy demand going up, meaning that supply and demand will be squeezed. The political unrest in unstable regions where the largest oil reserves are As the price of oil increases, so will the price of energy and we this may become uncontrollable over the long term. Security of Oil As mentioned before, the majority of oil reserves are contained within unstable regions or countries and countries that have political issues with the most developed countries. This includes the Middle East, which holds the most of the oil reserves and is almost always unstable. As the developed countries own oil reserves decrease, the importation of oil will increase from these regions and if the regions were to decline further, this may affect security of supply of the energy needs of these countries. The most important implication of such distribution of proven oil reserves is that future oil increasingly dependence on politically instable Middle East (Matutinovic) 2.3.3 Gas In the past natural gas was not used globally to produce energy and by domestic householders. It is becoming increasingly important to meet energy demands around and in particular, the EU region. As with the issues with oil, gas reserves in the European Union and USA regions are dwindling and these regions are fast becoming increasily reliant on Russia and Middle East for their supplies. The UK in particular as a large proportion of its power produced by gas power stations and this has been addressed within their energy policy of the intention to decrease the importation of gas in the long term. However, in the short medium term it is anticipated that Europes dependence on gas will go from 36% up to in 69% (Weisser H, 2005) even with the issue of climate change, as natural gas is less pollutant than coal and oil. Looking at Russia, by far the biggest supplier, for analysing the security of supply equation one has to account for the fact that this countrys energy policy is not only d etermined by economic interest but a least equally by geopolitical, foreign policy and security consideration (Weisser). Political Issues The country with the most natural gas reserves is Russia. As each year goes by, the EU will have to import gas from Russia more and more. The political relationships between Europe and Russia are not the best. This was brought about by the dispute between Russia and the Ukraine over the gas supply. This in turn reduced the supply to Europe, as the pipe goes through the Ukraine to supply Europe. This brought tensions between the EU and Russia, since then Russia has threatened the supply to Europe and dramatic price increases. Apart from the Russia, the Middle East is the second biggest exporter and like oil, is vulrable to political unrest and this may affect supplies to their customers. Gas Prices Gazprom is the biggest gas provider in Russia and world. With demand for gas going to increase in the coming years, this will give the power to increase prices to the EU and other regions. If this were to happen, this would lead to higher costs for the UK to produce power and this would lead to higher power costs for domestic householders. The price of gas will also have to increase to fund investments to find new gas fields and pipes that transport the gas. The main reason for dual gas pricing has been to provide a gas subsidy to the Russian economy. (Spanjer A, 2007) 2.3.4 Coal Coal was the first significant fossil fuel to be used by humans and was the spearhead for the industrial revolution. It is used by both developed and developing due to its availability and value Consumption Developing countries use 55% of the world consumption of coal, which includes China and India. It is predicted that this is going to rise to over 65% in the morelonger term. The availability of coal is vast, which is the primary reason why it is used so much. It is found all over world, including vast reserves in the UK. It is predicted that if the current trend of excavating coal were to continue, it may take up to a few hundred years to exhaust the earths supply. As the coal reserves are spread all over the world, this gives an advantage to the other fossil fuels of providing a greater security of supply. Because of the inevitable decline in world reserves of petroleum and natural gas and rising demand for energy, coal is a major alternative along with nuclear power to meet these meets. (Yilmaz A O, Uslu T, The role of coal in energy production Consumption and sustainable development of Turkey, Energy Policy 35, 1117 1128, page 1, 2007) Cleaner Coal In the future, it is anticipated that cleaner coal power stations are to be constructed as coal is seen as a fuel that will meet the energy demand for the medium term. This is seen as a way of meeting the energy demands because of the reserves of coal offering a much higher security of coal, but also a way to reduce the emissions that coal gives off when used to produce energy. 2.4 Climate Change The issues that are associated with climate change go back over one hundred years when scientists were discovering that greenhouse gases were interfering with the atmosphere. Over the course of history to this present day, the understanding of climate change has jumped dramatically over the past 10 years and scientists are beginning to see the potential effects that may have on the earth if we do not tackle the roots of the problem. 2.4.1 Energy Production Energy production accounts for the vast majority of the green house gases that is produced. Energy accounts for over 80% of the global anthropogenic GHGs (Quadrelli R, The energy-climate challenge: Recent trends in CO2 emissions from fuel combustion, IEA, Elsevier, page 2, 2007). These green house gases are a direct result from using fossil fuels in producing energy. The world energy supply is still very much dependant on fossil fuels to produce the energy needs for the world population, even with the growth of renewable energy. As stated before, the worlds energy demand is expected to grow significantly over the next 20 30 years as a direct consequence of a rising world population and the rapid development of China and India. 2.4.2 C02 Emissions All fossil fuels contribute to green house gases, some more than others however. Coal is the biggest contributor of C02 emissions and this will just increase as coal becomes more popular, especially with China and India. An Energy production accounts for the vast majority of the green house gases that is produced. Energy accounts for over 80% of the global anthropogenic GHGs (Quadrelli R, The energy-climate challenge: Recent trends in CO2 emissions from fuel combustion, IEA, Elsevier, page 2, 2007). These green house gases are a direct result from using fossil fuels in producing energy. The world energy supply is still very much dependant on fossil fuels to produce the energy needs for the world population, even with the growth of renewable energy. As stated before, the worlds energy demand is expected to grow significantly over the next 20 30 years as a direct consequence of a rising world population and the rapid development of China and India. 2.4.2 C02 Emissions All fossil fuels contribute to green house gases, some more than others however. Coal is the biggest contributor of C02 emissions and this will just increase as coal becomes more popular, especially with China and India. An increase of C02 emissions in the last 35 40 years has been substantial and the total amount of C02 emissions due to burning of fossil fuels reaches to about 26 billion tons. (Saito S, Role of Nuclear Energy to Future Society of Shortage of Energy Resources and Global Warming, Journal of Nuclear Materials, Elsevier, 2009). These countries will have to find a guaranteed supply and this fuel will become cheaper than oil and gas over the longer term. These countries will have to look to coal to meet its energy demands for its growing population. If the projections are correct, coal will become more popular amongst the developed nations. This will increase green house gases and that is with the policy of constructing clean coal power stations. The oil and gas sectors will still have a very important part to play in the long term, but it is projected that dependence on these fuels will decrease slowly as the price goes up and the security of supply is not guaranteed. 2.4.3 Biggest C02 Producers The biggest polluters seem are the countries with the biggest economic development, the rapid development of some countries meaning a higher energy demand and the countries population. The United States was the biggest polluter due to its economic power and industrial size. However, as China has grown rapidly, this has pushed it to become the worlds biggest polluter. This is because China has seen significant economic growth and has required it to increase its energy production to meet its industrial growth. 2.4.4 Affects of Climate Change The affects of climate change will be catastrophic if the current trend of C02 emissions continues. Climate Change threatens the basic elements of life for people around the world access to water, food production, health and use of land and the environment (THE STERN REPORT, Executive Summary (Long), page 6, 2006). Rise in sea levels The affect of the earth heating up will mean the two polar ice caps melting, making the global sea levels rising. This will mean that countries or regions with a low altitude could mean land being lost. Global sea rises will mean millions of people being displaced and having to find alternative areas to live. Vegetation areas These areas could change the whole global landscape, in terms of the areas where crops could be grown. This could mean areas where crops are grown just now, will not able to grow in the future and this again may displace millions of people, especially in the more developing regions such as Africa. Weather systems There is current evidence that the weather pattern is already changing. The likelihood of this worsening is very real if climate change is not tackled. This includes an increase in category 5 hurricanes, increased flooding and an increase in heat waves due to temperature rises. Temperature rises will also lead to sever forest fires in regions such as Australia and California. 2.5 Financial Implications of Climate Change As well as the physical implications of climate change, the financial consequences may well be as bad for all countries if climate change is not tackled and heavy investment put in place 2.5.1 STERN REPORT The STERN report was produced to assess the potential damage that climate change could inflict on economies around the world. The evidence shows that ignoring climate change will eventually damage economic growth (THE STERN REPORT, Executive Summary (Long), page 2, 2006). The report consists and focuses on a number of issues The affects of climate change on the economies The costs of putting in control measures to reduce the affects of climate changes The investment needed to change to an infrastructure that omits less C02 emissions The report highlights the relation of GDP in relation to the increase in temperatures. There seems to be a trend in that for every one degree that the temperature goes up, then 1 per cent of GDP is lost. As well as the GDP, the biggest affect that climate change could have on is the developing countries, particular Africa. The report highlights that the ability to grow crops will reduce and water supplies will decrease dramatically and this will displace millions of people. 2.5.2 Investment The STERN report also points out that investment is now needed to prevent much higher costs being incurred in the longer-term. The report comments that such investment should include the acceleration of cleaner and renewable energy. 2.6 Energy Policies Energy policies are produced by governments to help them plan their countries energy production for the long term, set targets for cutting C02 emissions and evaluating their methods of producing energy. 2.6.1 Contents of Energy Policies The contents of energy policies will wholly depend what country it is, how much GDP it produces and how confident they will be in making sure that they can meet their targets Energy Policies will usually contain the following Security of supply Evaluation of their current energy production methods Methods of making sure that they have sufficient ways in meeting demand Outline any new ways in producing their energy Ways in which they will tackle climate change Their policies of using renewable energy to produce power. 2.7 Renewable Energy Policies Renewable energy is essential for meeting the commitment to cut C02 emissions, to ensure the world can meet the energy demands, security of supply and eventually leading to cheaper energy in the long term in comparison with fossil fuel produced energy. Renewable energy technologies have increased dramatically in the last 5 years. Its essential to have renewable energy in a countries energy policy to help meet all these commitments. To the present day, 73 countries are thought to have included a renewable strategy within their policy. Between 2004 and 2008, over $120 billion of investment has put in place to increase the usage of renewables. Although this investment is substantial, it is predicted that that this type of investment will have to be spent every year to help renewables get to a level to produce energy to a stage where it can compete with coal and gas. While most renewable fuels are free, renewable energy projects have high up-front costs (Sawin J L, National Policy Documents, International Conference for Renewable Energies, page 5, 2004). Renewable Energy types include Solar Power Wind Power Hydro Geothermal Biomass Tidal Power 2.7.1 Wind Power Out of all of the renewable technologies, wind power is by far the most used around the world. Wind power was the largest addition to renewable energy capacity (Renewables Global Status Report 2009, REN21, page 11, 2009). Wind power comes in two forms either on shore or off shore. Wind power is particularly used throughout the EU due to its climate. Wind power production percentage throughout the EU varies, with Germany being the most productive country within the EU. 2.7.2 Solar Power At the end of 2007, solar power production accounted for around 0.5% of the power produced. As with the wind power restrictions, solar power is more effective where countries are better situated to get sun on a regular basis. Also as solar power is expensive to build in comparison to the more conventional power stations, this currently makes it unviable to construct until capital costs come down. 2.6.3 Other Renewables The other options of renweables make up a tiny proportion of energy production, in comparison to the wind and solar. Heavy investment is needed to bring these up to level where they will be seen as a potential energy source as the other options. 2.8 Nuclear Energy Nuclear power has is fast becoming one of the main sources of power for a few countries within the EU and the USA. Apart from the Western countries, nuclear power is fast becoming the one of the major sources of producing energy. There over 100 hundred power stations currently being built in Asia and alot more are being planned. Nuclear Power alone wont get us where we need to be, but we wont get there without it. (Abu-Khader M M, Recent Advances in Nuclear Power: A Review, Nuclear Energy 51, 225 233, Elsevier, 2009) 2.8.1 Production Nuclear power currently accounts for around for 14 per cent of the power produced around the world. It is expected that this will grow rapidly over the longer term as the worlds most developed countries construct more plants to meet energy demands. 2.8.2 Why Nuclear Nuclear power has big advantages over the current main sources of power production. Security of Supply Nuclears raw material is more readily available than other fossil fuels. This gives it a more guaranteed security of supply of generating the energy needed. Importing uranium is expensive to import, however it can be stored for several years and makes it less of a concern. Price Rises Nuclear power is less of risk of being the subject to a large price rise. This is because it is cheaper to run the power plant in comparison to gas and coal power stations. 2.14 Bar Chart Showing Predicted Price Rises for Each Fuel Type (Adamantiades A, Nuclear Power for Sustainable Development: Status and Future Prospects, Energy Policy 37 5149 5166, 2009) A doubling in the price of Uranium would cause a 5-6% increase in the total cost of generation, while a similar increase in the price of natural gas would lead to 65% increase in gasfired costs. ((Adamantiades A, Kessides I, Nuclear Power for Sustainable Development: Current Status and Prospects, Energy Policy, Elsevier, page 2, 2009). Climate Change As with renewable energy, nuclear plants produce little or no C02 emissions. As the world is becoming increasily concerned with climate change, severe cuts of C02 emissions are being set and nuclear is seen a key player in reducing these emissions. 2.8.3 Safety Concerns After the tragic accident at Chernobyl, it was understandable that nuclear power got a bad reputation around the world, with some countries even banning it altogether. However, since safety factors in constructing and operating a nuclear plant have improved greatly and the idea of nuclear power is taking off again. During the past two decades, nuclear power plants have also achieved increasingly higher capacity factors with the same or greater levels of safety (Adamantiades A, Kessides I, Nuclear Power for Sustainable Development: Current Status and Prospects, Energy Policy, Elsevier, page 12,2009). 2.15 Bar Chart Showing Fatalities by Fuel Type (Adamantiades A, Nuclear Power for Sustainable Development: Status and Future Prospects, Energy Policy 37 5149 5166, 2009) The most obvious risk of operating a nuclear plan is exposing the public to radiation poisoning, with Chernobyl being the best example. Strict measures are now in place to greatly reduce such a tragedy happening again. This includes conducting risk assessments and putting in control measure to reduce the risks. 2.8.4 Nuclear Waste The debate of nuclear waste was one the biggest obstacles for the new generation nuclear plants being constructed. Although the storage of nuclear is major concern, the technology is in place to manage safely and effectively. In comparison with the waste that fossil fuels produce, it is signifcently less. 3.0 Methodology My method of research was to use a mixture of both quantitative and quantitative research methods. 3.1 Quantitative and Qualitative Research The method of using quantitative is and will be limited, in comparison with the other forms of data collection. This has used up to this point for comparing statistics, figures and forecasts. This is based on using journals, government reports and reliable websites being used to gather this information to allow me to compare the above. It will be my intention to continue this form data collection when completing my dissertation The method of using qualitative will be the form of research that the bulk of dissertation will be based on. This is based on sources from journals, books, government reports, reliable websites, interviews and case studies. It will be my intention to continue with this form data collection when completing my dissertation. Journals This form of gathering data has helped me gather the majority of my information. I have gathered peoples perceptions, thoughts and opinions of this subject. Information gathered was mostly opinions in the form of text, graphs and diagrams. Government Reports This has allowed me to focus on the subjects that I need to concentrate to be able to answer my aims and objectives. Information gathered included factual statistics and text. Websites This form of sourcing of information allowed me to gather some of quantitative and qualitative information. I made sure that these websites were reliable websites and that the information was as accurate. Information gathered included graphs, statistics and text. 3.2 Interviews My intention is to organise three interviews with three different organisations. This is to allow 3 different opinions based on the subject of my dissertation. This will include getting opinions on people who are involved with the nuclear programme, the renewable sector and an organisation that represents somebody/something for which the nuclear plants or the rapid construction of renewables may have negative consequences. 3.2.1 Initial Contact and Organisations My initial contact to arrange interviews was via e-mail. I asked them for an interview by introducing myself, the reason for the interview and the topic of my dissertation. My first contact was Mr David Cameron, of the Scottish Renewables trust. He kindly agreed to an interview in his Glasgow based office and agreed that I would be in touch when I am ready to conduct the interview. My agenda for this interview is to get his views on the developments of the renewables sector, the developments of the nuclear sector and will this be able to meet the energy demand My second contact was Mr Peter Dobson, of Scottish and Southern Energy who are directly involved with the nuclear program within the UK. My contact with him came about because of the close relationship that my employer and SSE have. My agenda for this interview will be similar to my first contact My third contact I hope to be the Scottish Wildlife trust. I have still to make contact with this gruop. My agenda for this interview will be to get the developments on both nuclear and renewables development in the UK and how this could affect the British ecosystem. When it comes to conducting the interview, I will stress the confidentially is the most important issue when conducting this interview and will ask them to make me aware that a particular question can not be answered without their confidentially being breached. 3.2.2 Interview Technique and Agenda My intension is to make the interview semi-structured. This will allow me to prepare a set of questions that I will ask all three participants, with the possibly of other questions being prepared depending on the organization. By having a semi-structure interview, it will allow me to get the information that I will require, while allowing any other questions or conversations to happen during the interview, as some topics may come to light during the interview. I shall prepare the questions before the interview takes place and sent the interviewees the prepared question paper and the agenda beforehand. 3.3 Case Studies It will be my intention to focus on two case studies. One will be in the form of concentrating on one of the chosen nuclear sites. I will give information on the suitability of the site, the energy that will generated, the benefits of having this plant and the health and safety implications of having the plant at this location. The form of collecting data will involve the use of journals, construction information, site location, government reports on this site and information coming from interviews. My other case study will focus one of a key renewable project that has been constructed in recent times. I will give information on the characteristics of the site, the e