Free Economics Dissertations - E. The Incentive To Cheat By Member Countries, By Producing More Than Their
e. the incentive to cheat by member countries, by producing more than their allocated quota of oil on the world oil market so as to raise income. The selection of a possible solution to this, ranges from the cartel to set a price range within which it could gauge whether the price of oil has fallen below its minimum (currently it is set at $25 a barrel minimum), and when it rises past its maximum (currently set at $45 a barrel maximum) whereby various OPEC members would identify when to increase or reduce their allocated quotas; to member countries taking turns every year to produce more oil than other members in alignment with the budget of the member country so as to fill in the gaps with regard to having enough income to keep their economies healthy. From the processes of group work the best possible solution would be to use the Grasp Scheme (getting results and solving problems), where there are four stages, namely: stage 1, selecting the purpose or objectives and the criteria for success; stage 2, generating different ways of achieving the objective and selecting the best one; stage 3, putting the chosen plan into operation and control the process; and stage 4, reviewing continually each operation and the results arrived at. This can be said to be the best selection process for OPEC working as a cartel. The end results would have to be analysed in correlation with the elements of the problem initially identified, which is for OPEC members to stick within their agreed quota limits to keep the price of oil in a stable criteria. Independent monitor bodies could act as a means to enforcing the agreed quota allocations of the various member countries, in which they could provide reports on the activities within each member countries. The report can be written in words, visually where photographs, and video links can act as a tool to provide a realistic conclusion to ones findings. Finally, clear verbal communication would need to be established so that the analysis and report provided by the independent body is as accurate as possible so that the organisation (OPEC) would have the best answer to its identified problem, which is stated in the latter mentioned above.
Factors that affect group effectiveness are, being able to set clear agendas and boundaries. I.e. be clear about the purpose of the group and each meeting. One would need to decide how long to spend on each item when an agenda has been set for the group. Identifying which meetings are for socialising and for work is of importance here. Meeting times and venues would need to be arranged well in advance, so that everyone can attend them. Task allocation is another factor that affects group effectiveness. One would need to be clear about who is doing what, tasks would also need to be allocated fairly, and deadlines would need to be met for completion of the tasks.
Dissertations - Free Economics Dissertations
