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The Social Costs and Benefits of A Business Activity - Paddington Basin

Extracts from this document...

Introduction

1 2 THE SOCIAL COSTS AND BENEFITS OF A BUSINESS ACTIVITY - PADDINGTON BASIN 1 INTRODUCTION 4 2 PRESENTATION 5 2.1 NOTES 5 2.2 NOTES AFTER MEETING 5 2.2.1 LOCAL COUNCIL 5 2.2.2 LOCAL BUSINESSES 5 2.2.3 RESIDENTS 6 2.2.4 NWC SCHOOL 6 3 STAKEHOLDERS 7 3.1 LOCAL COUNCIL 7 3.1.1 SOCIAL BENEFITS 7 3.1.2 SOCIAL COSTS 7 3.2 LOCAL BUSINESSES 7 3.2.1 SOCIAL BENEFITS 7 3.2.2 SOCIAL COSTS 7 3.3 LOCAL RESIDENTS 8 3.3.1 SOCIAL BENEFITS 8 3.3.2 SOCIAL COSTS 8 3.4 NWC SCHOOL 8 3.4.1 SOCIAL BENEFITS 8 3.4.2 SOCIAL COSTS 8 3.5 SUMMARY 8 4 ENVIRONMENTAL COSTS AND BENEFITS 9 4.1 PRESSURE GROUPS 9 5 ENVIRONMENTAL LEGISLATION 10 5.1 ENVIRONMENTAL PROTECTION ACT 1990 10 5.2 PLANNING ACT 10 MEETING 11 5.3 NOTES 11 5.4 NOTES AFTER MEETING 12 5.4.1 COUNCIL 12 5.4.2 RESIDENTS 12 5.4.3 BUSINESSES 12 5.4.4 NWCS 12 5.4.5 CHANGES 12 6 ARTICLE 13 7 PUBLIC MEETING 15 7.1 COUNCIL'S VIEWS 15 7.2 RESIDENT'S VIEWS 15 7.3 BUSINESSES VIEWS 15 7.4 NWCS VIEWS 15 7.5 FUTURE CHANGES 15 7.6 IMPACT 16 8 ENVIRONMENTAL IMPROVEMENTS 16 9 RECOMMENDATIONS 17 9.1 ECONOMIC GROWTH 17 9.2 SOCIAL INVESTMENT 17 9.3 EMPLOYMENT 17 9.4 HOUSING QUALITY 17 9.5 TRANSPORT 17 9.6 WATER QUALITY 18 9.7 LAND USE 18 9.8 SUITABILITY 18 10 SOURCES OF INFORMATION 19 10.1 SOURCE 1 20 10.2 SOURCE 2 20 10.3 SOURCE 3 20 Report Social Costs & Benefits - Paddington Basin To: From: Samir Mobasher 3 INTRODUCTION The Paddington Basin development is to take this area to new heights and to make this 'the place to be'. The Paddington Basin regeneration will last for 15 years. In this time, various stakeholders will be affected in some way. This is why research has been conducted on each stakeholder and how he or she feels about the project. The developers' main interest apart from making a profit is to create a new area for Paddington, to regenerate it. ...read more.

Middle

(School & Residents) Here are some possible answers. * The cost of living will rise over the years as will peoples salary. * We are still looking into the matter of the school. Refurbishment? * We have already given compensation for the noise to the school, looking into other matters. 7.4 Notes after Meeting 7.4.1 COUNCIL * The council are in favour of the development and more or less fully back the development. * The council are also the most important stakeholder. 7.4.2 RESIDENTS * The resident like the idea of the development but still have doubts. * The residents dislike the noise. * They are worried about future rent increases. * Some of the older residents feel that maybe a new community centre should be built. * Many of the local residents were also asking for compensation in some form. 7.4.3 BUSINESSES * Local businesses are not happy with the construction work even though some businesses trade has actually increased. * Some of the businesses feel they are getting no benefits from this development. * They also fearful of the rent increasing. 7.4.4 NWCS * Only one argument from the school and that was in terms of money as compensation for noise. 7.4.5 CHANGES * The residents and businesses would like to be informed of any changes. * Cleaner streets. * Playground for children. * Facilities for the elderly and disabled. * New garden or park. 8 ARTICLE ONWARD AND UPWARD SAY THE DEVELOPERS By Samir Mobasher The reconstruction of the Paddington area over the last couple of years has been diminutive so far, but now as bigger, plans start to unfold the community start to ask questions. After a public meeting about the development, which included the stakeholders and developers, the developers were put under some pressure. The developers still claim that the development is running smoothly and everything is under control. ...read more.

Conclusion

money * Attractive area- with all the new houses and businesses being built and a suggestion of a new park as well as a new river stream the area is bound to look better * It will be easier for tourists and people coming into work to get to Paddington as a new railway station is to be built. 12 SOURCES OF INFORMATION Source 1: A-Z business studies (book) Source 2: www.sustainable-development.gov.uk (Internet) Source 3: local residents, businesses, council, school, developers (conversations with public) 12.1 Books David L, Ian M & Barry M (2000) A-Z business studies hand book third edition 12.2 Reports None recorded 12.3 Websites www.sustainable-development.gov.uk 12.4 Interviews Mr Bloom, Council representative, Westminster council, London. (8 October 2001) Mr Morton, Head of School, NWC School, London. (5 October 2001) 12.5 Exhibitions and Visits PA staff, Business Design Centre, London (10 September 2001) Reception, Hilton London Metropole, (16 October 2001) 12.6 Acts of Parliament Environmental Protection Act (1990) 12.7 Source 1 This book gave me an insight into some of the environmental legislation surrounding the development. This information was easy to access as I own the book and I have found the information in it to be very reliable. 12.8 Source 2 This information was very helpful in my recommendations. It clearly explained what sustainable development is and gave me an in-depth insight of other related areas. The information came from a reliable source as this is a government funded website. 12.9 Source 3 The information we collected from the local stakeholders was not that reliable as many had mixed views and some did not have time to talk. Therefore, we could not get a detailed response from them however they did briefly give us their views on the development. This information was relatively easy to collect as all the stakeholders are situated in the local area. The views from the developers however would certainly be biased, as they would not say anything bad about their own development. ?? ?? ?? ?? 1 ...read more.

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