Report on Improving PSC performance using a risk-based approach

Methodology of Improving PSC performance using a risk-based approach

In this research, there is a specific methodology that has been selected and it will be described in this section. It will involve all the steps that have been considered for performing the research and collecting the necessary and relevant information. All the methods which have been utilised will be described together with the justification why they were chosen in the first place. Other than just justifying the methods, it will be determine this section whether all the necessary legal, technical, and safety requirements were ensured and considered while conducting the research or not. 

Actually, methodology is recognised as one of the most critical and integral aspects of a research. In fact, it can be said that it is the bridge or connector between all the results obtained from the research and the objectives of the research. In simple words, it is the base or foundation of any study or research because it seems to justify and outline why some specific techniques and methods were selected for finding the necessary information. It helps significantly in the justification of chosen approaches and methods as to why they were more suitable to the research rather than other methods. Hence, it cannot be replaced in a research (Flick, 2015). 

Research Design of Improving PSC performance using a risk-based approach

This section of the research study explains about the research structure that is adopted to conduct this study in effective manners.as indicated its name and term this chapter explains about the materials and methods that are particularly utilized in this dissertation. Furthermore, the Research philosophy, Research philosophy, Research Strategy, Sampling, Population, Sample Size, Data Collection Method, Data Collection Instrument (Questionnaires) and Limitations of Methodology is explained in this chapter along with detailed of the ethical considerations. The research design is considered as the framework that is required for conducting the complete research work. The design of the study is required to identify the type of research related to conducting the work. The design of the research is considered as the framework that is required to the answer the particular research questions of this study and it also used for further investigations. In the above given paragraph the types of the entire research is discussed in effective manners. It provides theoretical support to understand that which set of the methods or method can be proved as the best practices that can be implemented for the particular case; for instance for calculating the various results. The process of the research design is also explained as the set of systematic techniques that are using in the research. Simply it can be said that the research design can explore the guide to research along with the process of how it will be conducted. The methods of analysis are also described under this heading that throws more reflection on their resources and limitations. This process also clarifies the consequences and presuppositions that are relevant to their personalities for the various zone of knowledge.

Research Types of Improving PSC performance using a risk-based approach

There are the various types of the research or research methods and it all depends upon the nature of the study. Types of the research are always considered by considering the nature of the study.  There are numerous kinds of the research that are known as the types of the research. It includes Creative Research, Action research, experimental research and descriptive research.

 Descriptive research of Improving PSC performance using a risk-based approach

Usually, this kind of research is known as the case study research, it also includes; studying the particular situation for determining that how the general theory can be raised; how the existing theory has born for various particular situations. It includes; anthropological studies. Under the descriptive research study the various kinds of the case studies are analysed. The interviews are conducted from the ten experts. Yet it means the interviews approach has been used particularly.   

Research Approach of Improving PSC performance using a risk-based approach

There are different types of research approaches which can be considered for finding information. For instance, two of the most common approaches include deductive and inductive research approaches. In this paper, inductive research approach is adopted because this approach considers qualitative methods for finding information. The main difference that exists between deductive and inductive approach is concerned with the fact that while the aim of deductive approach is to test a theory, the objective of an inductive approach is concerned with the development of a completely new theory while utilizing the existing information. When a deductive approach is considered, it is important to form a hypothesis while in the inductive approach, research questions are considered for narrowing the scope of study(Armat, Assarroudi, Rad, Sharifi, & Heydari, 2018).

Research approach is considered as the particular approach that is used for conducting the research. The research approach is usually decided by considering the selection of research question; it also explains the particular conceptual framework that has been adopted to conduct the research study. The selection of the appropriate source data collection n are considered by following the research approach. Both kinds of the research approaches are utilized in order to conduct the subject study and these are deductive and inductive research approaches. The deductive research approach is usually starts with the development and testing of the hypothesis. Meanwhile; the inductive research approach is particularly utilized the research questions in order to slandering the scope of the study. The emphasis is particularly causality under the deductive research approach meanwhile the inductive research approach is usually focusing on the exploration of the phenomena in order to seeking the previous research phenomena. In this study, inductive research approach is considered more important and has been utilized because it not only includes the formation of research questions but also other qualitative methods for collecting data and finding information.

Research Philosophy of Improving PSC performance using a risk-based approach

It can be said that positivism and interpretivism are two basic philosophies to research and data collection. For instance, quantitative and scientific methods are considered by positivists while humanistic methods are considered by interpretivists. According to positivism, an individual is influenced significantly by the actions of individuals and the society. Positivists believe that actions and behaviours of an individual can be explained by studying the social norms to which they are normally exposed. However, interpretivism considers that consciousness is possessed by individuals who mean that they don’t just give reactions in response to external forces (Aliyu, Bello, Kasim, & Martin, 2014).

The research philosophy is considered as the particular belief related to ways and means that are required analysing and gathering the data that will be utilized in this study. The major purpose of the research philosophy is to transforming the beliefs of the things in to known things.  There are the various kinds of the research philosophies that can be incurred in order to conducting the research study. By using the particular western traditions two types of the major research philosophies are used in this study. These philosophies are named as; Positivism and Interpretivism. Both kinds of the research philosophies are utilized to composing this research study because the according to the believe of the positivists the reality is always stable and it can be described and observed by the research objective that are established in the earlier parts of the study. The positivism paradigm is leads towards the experiments and it is particularly utilized to test the hypothesis. Interpretivism research paradigm is always explains the concepts of the pre-existing data that is used in any research study (Wickramasinghe & Alawattage, 2017).

In this paper, interpretivism approach to research is considered because qualitative research methods are utilized in this approach for collecting information and analysing it. And considering the nature of this research, the research questions can be answered better by adopting qualitative methods rather than quantitative methods because they are not only time consuming but can provide with inaccurate assumptions.

Sources of Data collection of Improving PSC performance using a risk-based approach

In order to conduct this particular research study data is collected by using the both sources of data collection that are secondary and primary source of data collection. In order to improve the performance by suing the risk based approach in shipping i8ndustrt both of these methods are important. In this study; these reviews has been determined by various aspects.

Primary and secondary of Improving PSC performance using a risk-based approach

For such kinds of the research study, the secondary source of data collection is used as intensive. It makes the work easier by offering the existing data on the particular topic. It is also known as the flexible method that is being used for using the related information and relevant data. For such kinds of the research inspection of the results the significances of the risk based approach has been examined. For empirical exercises as well as systematic techniques the secondary analysis is being absorbed. In order to conduct the secondary analysis as well as used the secondary source of data collection this analysis can be conducted stepped by stepped. It also includes the effective material that is being used in this study in good ways. By considering the systematic procedures of the effective practices this study has been conducted in good ways.(Konopinski, 2013).  Moreover, the literature review is considered as the authentic and reliable ways to synthesizing the research findings that are observed as the evidence for uncovering the various areas that is required for more studies. It is also known as essential and significant component for the theoretical and conceptual models (Durach, Kembro, & Wieland, 2017).

In order to lock description as well as thorough ness both of these typical sources of data collection are explaining and portraying the literature. It also includes the case studies of the various companies that is beings used in for collecting the data from various sources (Ferrari, 2015). The outcomes becomes similar for the sufficient knowledge by observing that what are the arguments of the studies and what are the indication of the studies. Therefore, it is the kinds of the possibility that is created by the authors for their studies and it also includes the study for the assumptions of the erroneous (Sullivan, Weinberg, & Keaney, 2016). Infects, if the researchers are conducting effective studies and selective arguments of the evidences in order to building the studies on particular topics. The various kinds of issues are also discussed that can be faced in this study. Additionally, even when methodology is authentic, there are normally issues with what constitutes a good contribution (Agee, 2019).

 Primary data is being utilized by focusing on secondary analysis. The studies were investigated by the secondary sources, which are in the field of importance of personal finance that reflect the implementation of various organization even individual personnel. The primary source of data collection leads towards the self-generation of the data as well as the view of the various peoples related to the pacific topic, e.g., the importance of personal finance.  

Case Studies of Improving PSC performance using a risk-based approach

Case studies are considered quite important because they are capable of offering necessary and relevant information without any type of ambiguity and confusion. For instance, they allow researchers to study events in a detailed manner. Case studies enable researchers to determine and analyse different concepts thoroughly. They also provide background information on the necessary and related concepts. In general, it wouldn’t be wrong to say that analysing case studies is easier and simpler than researching journal articles and other related articles. When a person is researching about a concept or theory using peer-reviewed articles, he/she is unable to find the relevant information in a detailed manner. However, the same cannot be said about case studies. In comparison with journal articles, the researcher doesn’t have to find numerous articles in which pieces of relevant information is available. 

Case studies allow researchers to obtain information without having to find different articles and obtaining information from different sources. They are not only convenient to browse through and facilitate the process of research as well. In addition to it, they offer only relevant information which adds to their value.

In this research, case studies on the topic selected in this research have been considered. A number of case studies have been selected and they have been analysed and studied thoroughly. Actually, it has served to reveal quite important and critical information to be included in this research which was not gained from conducting only the literature review. Therefore, it can be said that the decision of studying case studies proved to be quite effective (Gray, 2014).

Literature Review of Improving PSC performance using a risk-based approach

The development of research and its association with the existing or past information is recognised as one of the most integral activities and processes that are related to both practical and academic researches. This process, however, has become quite complicated with time and it has become tough to perform it. The production and development of knowledge are increasing in all fields but in this field, it seems to remain interdisciplinary and also fragmented. In fact, it is considered an important why literature review should and must be performed within this research. 

Actually, a literature review is a structured and systematic method of previous and existing information collection and synthesis. As a research method, an effective and reliable literature review is able to create a strong and strengthened foundation that serves to facilitate the creation of a new concept and theory, and advancing the previously existing information. With the integration of different perspectives and findings from various empirical findings, the aims of research can be aimed with a potential that an individual process research does not possess (Galvan & Galvan, 2017). 

In addition to it, it can also aid significantly in providing an overview of various aspects in which the research is still interdisciplinary and disparate. It is quite a reliable technique of synthesising the findings of research for providing evidence and revealing all the aspects in which more research is required. The development of conceptual and theoretical models is facilitated by it as well. But traditional methods of representing and explaining the literature tend to lack description and thoroughness. In general, this results in insufficient knowledge of what studies are saying and indicating. Because of it, there is a large possibility that researches might be developed by erroneous assumptions. Usually, when evidence is selected by researchers on which they create their studies while ignoring and not considering the opposing arguments, they tend to experience some significant issues. Furthermore, even though methodology is authentic, there are still problems with what is seemingly making a well contribution to the study. 

The recognition of relevant and previous information is considered an important part of every kind of research project. Whether a researcher is reading an article or a book, he tends to start by explaining previous researches for the mapping and assessment of research area for emphasis and focus on objectives of the research and justification of the research questions. Actually, this is referred to as a literature review or a background in some specific cases. Still, in order to incorporate a literature into the methodology, some steps have to be taken. These steps have been considered and ensured in this study. 

In a similar manner to other studies, the value and importance of a review relies significantly on its clarity, what was carried out, and what was identified. In accordance with the objective of literature review, various guidelines, standards, and strategies can be utilised for conducting a literature review. Actually, the process of the literature review can possibly be narrow or broad. Meanwhile, in this paper, existing researches and concepts on the topic have been studied and analysed. Literature reviews are recognised as an immensely useful technique when it is carried out for evaluating a specific concept or theory. In fact, a literature review can be used for developing agendas of research, identifying gaps and limitations in a research, or just for the explanation of a specific issue. 

Lastly, it can be said that a literature review can be quite useful when the aim or objective of the study is associated with the development of a new or existing concept. And in cases which are similar to this one, it is a literature review that provides the foundation of this research. For making sure that this literature review has been effective, only credible researches have been selected and they have been studied. In order to find these reliable resources, keywords which are specific to the topic of this research have been used for finding journal articles and books.

Research methods of Improving PSC performance using a risk-based approach

In general, there are two types of research techniques or methods which are utilised for conducting research including qualitative and quantitative methods. Usually, qualitative methods include literature reviews and case studies and they are also referred to as secondary methods. Meanwhile, quantitative or primary techniques include different methods such surveys and interviews for the collection of data. In this research, only qualitative methods have been chosen due to the nature and the aims of the research. Actually, the secondary techniques which are considered in this study include case studies and literature review. 

Although only a single technique could also be utilised or considered for the collection of information, two techniques are chosen to strengthen the research. Literature review is a strong technique in itself but it is complimented by studying case studies as well for the collection of information. In this manner, it is ensured that any gap which is left out by literature review is covered by case studies (Bryman, 2017).

Qualitative type of research methods are used in order to conduct this research study, and a qualitative research method is a good option for analysing the importance of the personal-finance in generally and particularly for any company. Qualitative research methods lead to concept theories and reteach articles, diaries, and books. This research, the focus is also on the qualitative research on the organization and personal information, which is being conducted research by the researchers, but the Literature review is being focused on the internal audit. Hence that would be the examination for the qualitative research. The interpretations and words are being focused on the research methodology in this study why personal finance is important. In a research paper, an explanation and description are provided.

Research Instruments of Improving PSC performance using a risk-based approach

The self-generated questionnaire is used as a research instrument in this study. This questionnaire is generated by considering the research objectives. The questions are developed in easy English language by considering the respondents' perceptions and their comfort zone.  The results of the different questions and observations have helped to understand the effects of the management on the internal auditing systems. Answers have been collected from the questions through emails and posts. All of the answers are attained by the personal visit or meeting to the places of respondents.  Mostly the results are compiled on the answers to the questions related to the financial performance of the respondents.

This questionnaire is particularly designed for conducting the interviews from the participants who are the experts of the European and Greek shipping industry. These are the ten experts who are performing their roles in various industries in effective manners. The interview is the good approach to know about the reviews of the respondents for nat particular reason or problems. By conducting the interviews the various strategies can be observed in the practical life of the shipping industry to improve PSC performance using a risk based approach. These experts of the shipping industry can explain their views in effective manners.  

Sampling and population of Improving PSC performance using a risk-based approach

The sampling is considered as the methods which alludes the researchers to conclude the information related population that is based upon the results from the subset of the populations. In the research study, the reductions of the numbers of the individuals can reduce the cost of the work load. The professionals of the shipping industry are taken as the sample in this study.  The shipping industry professionals are those individuals of companies that qualified in different areas related to the working in this industry. Moreover, this is vital to reflect the selection of the employees in the research. For this research work, only those experts have been selected who have a good idea about the PSC.  The experts who were participating in this research work were very professional and focused so that they can observe the activities of the organizations and have guts to provide views about activities of the PSC as well. The secondary research is done by the observation and analysis of the primary data collected by the researches. For said research, the respondents are selected from various backgrounds and perspectives. The sample is 10 respondents and all of these respondents are the experts of the shipping industry that are playing their duties in relevant field in good ways.

The strategies of data sampling for literature reviews and interviews are different from each other. For instance, in the case of interviews, 10 officials of the maritime industry have been selected. Meanwhile, for conducting the literature review, a specific criterion was selected. For instance, only relevant journal articles were selected which contained information about maritime safety. Other journal articles were not chosen which didn’t have the required data. In addition to it, relevant keywords were utilized for researching and finding these journal articles. Only these sampling techniques are considered in this research for constructing the arguments, answering the research questions, and accomplishing the research objectives (Taherdoost).  

Data analysis techniques of Improving PSC performance using a risk-based approach

In order to analyse the data in the said study first of all literature review has been conducted on this particular topic in which the reviews of the numerous authors has been explored in effective manners. This study explores this view in good ways. After collecting the authentic literature review on the particular topic it has been written along with particular citations and working of the several authors. After that interview has been collected from the ten experts who are performing their duties in shipping industry.  The reviews of these experts have been collected on PSC. Than these reviews will be compared with the literature reviews that is conducted by discussing the studies of the various authors. It means theoretical reviews will compares with practical lives of the shipping industry for improving performance by using risk based approach. The comparative analysis is the good ways to explain and explores the views on particular topic.   

Research limitations of Improving PSC performance using a risk-based approach

The said research is only confined for the one state of the GREECE regions. There are the numerous factors that distract and attract the respondents towards the particular survey. Due to these factors the environments of the shipping industry can affect in as well. The said research study is conducted only from the professionals of the various companies. Therefore; the literature review discusses the details of the effeteness of the PSC in global economy in good ways. It means there is a limitation for the research methods in this study because only qualitative is utilized in this study.  The research study is limited to the theories and theoretical perspectives. No kinds of the numerical values and figures are included in this study. Even it can be said that this research study is based upon the reviews of the various authors who are working in shipping industry. The performance will be measured by using the risk based approach only for the shipping industry.  The subject of this study is only shipping industry along with its experts and professionals who are working in this industry.

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