Impact of Privatization on the Economy of Abu Dhabi †Free Samples

Question: Discuss about the Impact of Privatization on the Economy of Abu Dhabi. Answer: Research Questions The current is a research work focused on examining the impact of privatization on the economy of Abu Dhabi. The research will explore the various aspects of privatization on the economy of Abu Dhabi. The research question for the current research can be framed as: What is the extent of privatization in Abu Dhabi? What are the effects of privatization on the Abu Dhabi economy? What economic issues have been created with the privatization of Abu Dhabi Economy? Relevant Literature In the perspective of Whitfield (2016) most of the major and the leading economies of the world have a quest for the economic growth. Several economies have pursued the population control, human capital investment and obtaining financial aids as a replacement for the economic growth. However, the economic crisis has not been able to be addressed by any of the following factors. In addition to it, several factors such as the investment, technological innovation and education have been critical in creating a fundamental change in the economic structure of the countries. According to Powell, Miller (2014) the privatization can be defined as the method of reallocation of the assets and business control from the private entities to the public enterprises. Privatization has been adopted by majority of the countries of the world and is rapidly spreading to different parts of the world. Privatization brings radical changes in the economic structure as it formalizes and established property rights and creates incentives for the individuals which motivate them to work harder. Innes, A. (2017) has discussed that privatization leads to the development of free market economy which is dependent upon specific property rights of the people. It encourages large number of low-cost exchange which increases specialization and enhances economic productivity. Otten, J. M. (2015) has stated that the privatization increases the efficiency as it solves the extreme problems in the business environment. The engaged parties examines a business situation with the cost-benefit analysis and obtain the best-fit solution. A large number of governments are also pursuing privatization strategy, because of the notion that the government is overloaded with work and they cannot handle efficient organizations as they consists of several layers of bureaucracy. The private sector also responds quickly to the market demands whereas the public sector is not driven by the financial incentives or the external market conditions. The privatization can also have a positive impact on the fiscal situation of a country. The privatization is used to finance the government expenditures and pay off the future debts. In addition, it can also be used for paying off a portion of the governments debts so that interest rates of the existing investments can be reduced. Li Xu (2002) have stated that the government can reduce the total expenditure by increasing privatization. In addition, the government can also begin collecting taxes from the private business enterprises. It can also reduce the process of over-borrowing and increase in the national debt. Privatization has numerous benefits. It gives ownership to large number of population which establishes their property rights; the individuals become more motivated towards work and invest in their enterprises. There are several modes of privatization, and the selection of a particular mode is dependent upon the political ideology of the government. The most common method of privatization is selling the state-owned enterprises to the private organizations. The government needs to decide which institutions will be privatized and the private buyers can buy the shares of these companies. It can generate revenue for the government and these organizations can get restructured with the help of these investors. nis (2011) has stated that voucher privatization is another method of privatization wherein the government sells some vouchers to the investors and these vouchers can be exchanged for other institutions being privatized. It consolidates the privatization process and diversifies the r isks to the citizens. Internal privatization is another method of privatization in which the employees or themanagement buys out the shares of the state-owned enterprise. The enterprises are sold to the managers who are familiar with the firm and its infrastructure; however, this method creates minimal revenue for the government. According to Etemad, Denicolai, Hagen Zucchellla (2016), in Dubai, there is Abu Dhabi investment council which focuses on diversifying the economy by suggesting the government to divest and create globally diversified portfolio. The privatization process has been beneficial in Abu Dhabi as it has resulted in better access to health care and education sector. The public-private partnership has been the first step towards privatization in Abu Dhabi. Currently, most of the development projects in Abu Dhabi have been handled with the help of world-class partnership between the private and the public entities. Although private organizations have started operating in Abu Dhabi, the inclination of the people towards private organization is less. Today, most of the workers in these organizations are foreign workers. The government needs to create appropriate opportunities in the private sector so that the human resource issue in these organizations can be resolved (Schwab, 2010). Methodology The research methodology is an integral part of the research process. It refers to the process of selection of different methods for the research (Bernard Russell, and Ryan, Gery 2010). The research methodology presents an outline of the entire research process and guides the researcher regarding the direction of the research study. The research process requires the application of various research methods, philosophies, and research design and research approach. There are two types of research philosophies, namely, positivism and interpretivism (Creswell, 2013). In the positivism research paradigm, the researcher is considered different from the research process. The personal perception and belief of the researcher should not impact on the research outcomes. Interpretivism is another research paradigm which states that the researcher is a part of the research process (Bui, 2013). According to this paradigm, the viewpoint of the researcher impacts on the research process. In the prese nt research, the positivism research paradigm has been used (Creswell and Clark, 2011). Along with it, the deductive research approach has been used in the research. As per this research approach, the research begins with a hypothesis or research question and the process validates it. In contrast to it, the inductive research approach is more open-ended (Kaar, 2009). It is focused on obtaining some new information related to the research subject. The deductive research approach is used with the quantitative research methods (Kasi, 2009). These research methods obtain information which is quantifiable or can be analyzed through statistical methods. The quantitative research methods are used to verify some previous theory or to establish correlation between two variables. This method is commonly used in the research process due to its accurate results and ease. The researcher can also adopt qualitative research methods. Interviews and case studies are the common example of the qualitative research process (Onwuegbuzie Frels,2016). The qualitative research methods are foc used to find some new or novel information related to the research subject. They are commonly used in the social research and used for explaining or understanding some social phenomenon (Saunders, 2011). In the present research, the method of survey will be used. The survey questionnaire will comprise of fifteen questions. The questions will be related to the impact of privatization on Abu Dhabi economy. The participation in the survey will be on the pure voluntary basis. The executives and the business managers at different positions will be asked to participate in the survey process. Initially, a consent form will be sent to the research participants (Stebbins, 2001). The participants who agree to the research will be sent the actual research questionnaire. The sample size for the research has been selected as 100. The random sampling method is used for the selection of the research participants. In this sampling technique, the research participants are selected on pure random basis (Taylor, Bogdan, and DeVault, 2015). In the research process, both secondary and primary research methods are used. The primary data is collected with the help survey. The primary data refers to the data collection methods in which the novel information is collected for the research. The information collected with these methods is exclusive to the research process (Thyer, 2010). On the other hand, the secondary data refers to the data collection methods in which the data collected for other research is used for the research. These methods collect the data which has previously been collected by other researchers. In the present research, literature review will be used as a secondary data collection method. In this method, the view of the prominent and eminent authors will be collected and presented. It will be assured that the resources are qualitative in nature and reliable. Therefore, the unreliable sources such as Wikipedia and blogs will not be used (Wheelen Hunger, 2017). The information will be collected from peer reviewed journal articles, books and government websites. The researcher will also try to abide by the ethical considerations in the research. It is important to abide by the ethical principles to establish validity and credibility to the research. The research outcomes are used and read by a large number of people in the research community; therefore, it is important to establish trust in the community. The researcher should also focus on protecting the privacy and the confidentiality of the research participants. The personal information of the research participants will be saved in a password protected file. Another academic offense is plagiarism. It is the process of using someone else academic work, and passing it to others without giving credit to the author (Wheelen Hunger, 2017). The author has made sure to give credibility to the writers whose work they have used in the researcher. Proper in-text citation and referencing is used to give credibility to the authors. Outcomes The research is focused on identifying the impact on privatization on the Abu Dhabi economy. The research will identify the correlation between Abu Dhabi economy and the privatization. It will examine both positive and negative impact of privatization on the Abu Dhabi economy. A survey will be conducted to explore the impact of privatization on the Abu Dhabi economy. The survey will examine the positive and the negative impact of the privatization on Abu Dhabi economy. The research participants are selected as the managers and the business executives in the leading business organizations in Abu Dhabi. The research participant criterion is established to assure that the participants are aware of the privatization process and its influence on Abu Dhabi economy. The knowledge obtained from the research will help tin getting a broader perspective regarding the influenced of privatization in the economy. With the help for the literature, the current knowledge regarding the correlation bet ween privatization and the economy has been explored. The literature will establish a background for the research study. Timescale The research will be conducted over a period of three years. The research is a complex process and requires the researcher to undertake various challenging tasks simultaneously. In the initial stage of the research, the research and objectives will be determined. In this stage, the project aim and the research question will be decided. The process will take one month. Later, a literature review will be conducted to explore the current knowledge in the research area. After establishing background to the research study, the researcher will determine the research methods required for the research. The research methodology refers to the various methods and procedures required for the research. It is not a method itself, but provides the outline for the research. The research methodology will be established during the second year of the research (Thyer, 2010). Then after, a pilot study will be conducted to assure that the research is going in the right direction. During the third year, th e primary data will be collected with the help of survey method. During this tenure, the researcher will also analyze the data and conclude the research study. References United Nations Publications. (2001). Analysis of the Role of the Private Sector in ESCWA Member Countries with Egypt and Saudi Arabia as Case Studies. United Nations Publications. Etemad, H., Denicolai, S., Hagen, B., Zucchellla, A. (2016). The Changing Global Economy and its Impact on International Entrepreneurship. Edward Elgar Publishing. Schwab, K. (2010, September). The global competitiveness report 2010-2011. 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