HI6008 Research Proposal Assignment Sample
Here’s the best sample of HI6008 Research Proposal Assignment, written by the expert.
Introduction
Australia is one of the leading countries in selling opal in the world. Opal stones are one of the finest stones that are highly found in Australia. It is one of the expensive stones, and has a market all over the world. Demand for the black opal is quite high, as compared to the white one, and so are the sales of the product. This is because of two reasons. Firstly is the high price of black opal and secondly there are various people that perceived that black opal has a negative impact on their health. That’s why; there is short demand of black opal as compare to white opal (Caucia et al., 2013). The finest or higher the carat value, more is the cost of the product in the Australian and international market. Australia leads the sales of the “Welo Stones” that changes its colour when exposed to water. This makes it one of the highest demanded products in the international market. The export market of the opal stones is quite high, and it nearly contributes to demand of 8% of the total export (Boles, 2008). So the demand of “Welo Stone” is also considered as a high in Australia market as it has high value such as AUD $15,000 a carat (Hodgkinson, 2015).
As per a report, around 330,000 opals of approximately 10,000 carats were exported to different nations of the world. The ration is expected to rise higher, with the increase in the demand for the Australian open stones in more than 184 nations. As per a research report it was found that the demand for good quality black opal stone is quite high. It costs around $2000 per carat in the international market. The price is expected to increase further, with the demand increase. Traditional oval shaped black opal has a higher demand, and it also depends upon the carat value (Antonio et al., 2016). It consist of high value due to having an traditional design and pattern which attracts people a lot because people get make relate to it. Brighter the opal colour, higher is the value.
The demand for the opal stones available in the other nations is favourable but they are not as higher when compared to the ones found in Australia. Availability of the black coloured opal is quite low, and this has triggered the cost of the precious stone in the Australian and international market. With the relaxation of the import and export rules for the precious and semi-precious stones in the international market, the sales have improved. This research report examines the market of the opal stones found in Australia in different international markets (Chang et al., 2002).
Project objective
The project objective is to –
- To find how the existing market for the opal stones influence the buyers intention to invest in the stone purchases
- To analyse how the market conditions would change in the future (Edu, 2014)
- To understand own the increase in the price of the opal stone influence the buyers decision to invest in the stone purchases
Project scope
Buyers all over the world are interested in investing huge amount on the purchases of the precious stones. Opal stones found in Australia have a higher demand, as compared to the other stones in the Australian and other markets. Australia exports different carat stones to various European and other nations across the world. The demand of the stones has been increasing despite of the increase in the price of the stones.
With an increase in the purchasing power of the people, the buying capacity of the opal stones has also improved. The present buying pattern shows that people are interested in buying higher carat stones as the price for such stones is constantly increasing. These stones also have a good resalable value, which again increases its demand.
Literature review
Market for the opal stones
The market structure of stones and gems industry are increasing and it values also grows. Thus, it consists of oldest and remaining structure in Australia. However, stone continues to be used in and on new structures. It always consider as a natural beauty and enduring quality. These areas describe that stone structure still hold authenticity. Similarly, industry also keep the stone structure with high valued (Lewis, 2015). The opal stone found in Australia has a greater market potentiality as compared to the other stones. There are different shaped opal stones found in Australia, but the quality of black opal stones is quite higher in various markets. The demand of stone is growing in spite of high cost. A report on the opal market in Australia stated that visitors from different nations, including China have been constantly investigating the potential market to buy middle range opal stones in Australia. Demand for a higher quality opal stones is high in the USA, where buyers usually prefer high quality boulder and black opals (Even-Zohar, 2007).
This grapgh clearly signifies that demand of opal stone grows slowly and steadly after 90s in USA and it will be expected that it goes more & more in future.
Increase in the demand for the precious stones
The living standards of the majority of the people from various markets have slightly improved. Diamonds are still one of the preferred options made by the customers. This is because diamond has values which provide high returns in future (Shoenfelt et al., 2012). But some of the potential buyers are interested on checking a perfect alternative to the products. Opal stones with higher carat values fetch good value in different markets, thus making it one of the most preferred options. The demand for the black and the white coloured opal is constantly increasing, although the miners find it quite challenging to product the required quantity to meet the expectations of the buyers.
Drop in the export of the stones
During 2016-17, the value of the high carat black opal has doubled up in different byer market. Potential buyers were willing to pay a price of around $12,000 per carat, which slightly equalled the cost and the value of the high quality and polished diamonds in various markets. Majority of the opal stones are found in Coober Pedy, a remote town located in South Australia. The economy of this region highly depends upon the opal sales and in the promotion of the tourism activities (Fabiask and Staryga, 2009). The region has a positive sign for the future sale as the demand of opal stone is constantly growing so it can give a various opportunities to enhance the sale of opal in near future (Stone et al., 2012).
However, the miners were not able to meet the increasing demand of the opal products in various potential markets of the world. Besides this, the prices for the opal stones of different categories have also doubled up in the recent times. The pressure experienced by the locals of this area is quite high, as the miners constantly work to balance the demand and the supply of the stones in various markets.
Need to explore new investment options
In regards to big minor of opal stone, it is found that Coober Pedy region is considered as a big miner. Likewise, there is ample supply of the opal gem that could be found in this area. There is higher number of fields that has to be yet exploited to find the stone. However the time and the investment cost needed to explore the gem are quite high. New technology and higher investment cost would help in identifying new fields and increase the production works. This also needs the authorities to get bidding offers from different miners from various parts of Australia (Keller, 2008).
The major issue in exploring the potential areas were with the Australian government that didn’t extend the support to explore new fields. There was a lack of any lucrative initiates that were expected from the government members. Besides this, there is no proper co-ordination between the big miners and the other members who work on exploring the gems. Government has not provided any needful support to the authorities, as there was no proper tax extracted from the miners. This has affected the overall market for the opal gem stones in Australia (William et al., 2015).
Research hypothesis
Primary question
- How does the data reflect that the opal exploration in Australia can be improved
Secondary question
- Does the increase in the price of the opal stones in the international market improve the economic condition of the Australian country and the people
- How demands of increasing precious stone give rise to the standard of living?
- What is the reason behind of decreasing sale of black opal stone?
- What is the need to explore new investment options?
Research design
The research design will highlight an accurate process that will be followed to collect the needed research information on the opal market. Facts that will be collected for the research will be analysed for its reliability and feasibility to use for the conduct of the research work. Research design will be created to conduct the analysis part, where the facts will be analysed, and its importance for the findings will be included in the evaluation part. The two recommended options to collect the information will be quantitative and the qualitative method. Both the process for the fact collection will differ from each other and it effectively helps in analysing the facts that will have to be included to find the potential market for the Australian opal in various markets.
Description process for the research will be used to analyse the relevance of the facts that will be included in the analysis part. Survey process will be also used for collecting the views about the opal market from different resources. In the survey method, the researcher will aim to find how the market for the Australian opal market is steady and stabile increasing in different markets. Participants will be sent the survey questions, and will be encouraged to answer these questions and submit them through the email process (Creswell, 2003).
Qualitative research
The qualitative research technique will allow the researchers to find the relevant answers to the research questions. In this method, the researcher will use the social-science method, where the useful information will be sorted from the not-so important ones. A non-numerical method will be used to collect the information and present the facts in the numerical form. This will assist in collecting and evaluating the useful information in an organised and systematic manner.
The qualitative research process will allow the researcher to find how the gap prevailing between the demand and supply of the opal gem stone in Australia can be mitigated. To find the accurate information, statistical process will be adopted to evaluate he information collected from the participants. In this method, the researcher will plan and use a detailed analysis process where the facts and other relevant information will be collected and analysed for the conduct of the research. Analytical process for valuing the information and to analyse the facts will be included in the analysis part.
Quantitative research technique
Quantitative research technique will collect and examine the facts in a systematic and structured format. Interviewing process will be preferred for the collection of the information and to include the relevant information in the analysis. Facts will be presented in a numerical format, where the facts collected from various sources will be included. Through this method, the analysis will be conducted in accordance to the strategic values and plan decided by the researcher. The facts will be presented in the statistical manner, as this will make the understanding about the issue quite simple and precise.
This research prices will use the quantitative method for the fact analysis.
Sampling process
The sample size will be selected randomly and it will consist of 34 people who work with different mining companies operating in Australia.
Data collection
Primary method for the data collection will be preferred to collect and examine the facts. This method will include the survey process, where the facts will be included in the analysis part.
Research limitations
The limitations with the research would be with time, quality of the information collected, and the processes followed for the fact analysis.
Time schedule
| Week 1 | Week 2 | Week 3 | Week 4 | Week 5 | Week 76 | Week 7 | |
| Introduction | |||||||
| Plan the research work | |||||||
| Literature review | |||||||
| Analysis | |||||||
| Findings | |||||||
| Conclusion | |||||||
| Submissions |
Conclusion
This research work will attempt to find how the opal market in Australia has affected the economic condition of the nation and the demand and supply of the products. Purchasing of opal stones is increasing, but the supply has quite recently reduced due to the non-availability of the gems to meet the needs of the clients (Chakrabarti et al., 2011). The challenges faced at the excising tome, and the processes that could be followed to overcome the issues have been included in the evaluation process.
References
Antonio, P. L., Gronchi, C. C., Oliveira, R. A., Khoury, H. J., & Caldas, L. V. (2016). TL and OSL dosimetric properties of Opal gemstone for gamma radiation dosimetry. Radiation Measurements, 90, 219-223.
Approaches. Thousand Oaks, California: Sage Publications.
Boles, J. D. (2008). Diamond Details and Gem Fraud Status. Journal of Financial Regulation and Compliance, 16 (1), 77–84.
Caucia, F., Ghisoli, C., Marinoni, L., & Bordoni, V. (2013). Opal, a beautiful gem between myth and reality. Neues Jahrbuch für Mineralogie-Abhandlungen: Journal of Mineralogy and Geochemistry, 190(1), 1-9.
Chakrabarti, A., Shea, K., Stone, R., Cagan, J., Campbell, M., Hernandez, N. V., & Wood, K. L. (2011). Computer-based design synthesis research: an overview. Journal of Computing and Information Science in Engineering, 11(2), 021003.
Chang, S., Heron, A., Kwon, J., Maxwell, G., Rocca, L. and Tarajano, O. (2002). The Global Diamond Industry. Chazen Web Journal of International Business, 1–16.
Creswell, J. (2003). Research Design: Qualitative, Quantitative, and Mixed Methods
Edu, M. O. (2014). Superstitious beliefs among African Americans. International Journal of Education and Social Science, 1(5), 113-118.
Even-Zohar, C. (2007) ‘From Mine to Mistress-Corporate Strategies and Government Policies in the International Diamond Industry’, Mining Communications Limited, London.
Fabiask, K., and Staryga, E. (2009). CVD Diamond; From Growth to Application. Journal of Achievement in Material and Manufacturing Enginering, 37 (2), 264–69.
Hodgkinson, A., (2015). A matched pair of opals, with a catch. The Journal of Gemmology, 34(6), 470.
Keller, A. S. (2008). A New Gemological Challenges: Synthetic Diamond Melee. Gems and Gemology, 44 (3), 201.
Lewis, S. (2015). Qualitative inquiry and research design: Choosing among five approaches. Health promotion practice, 16(4), 473-475.
Shoenfelt, E. L., Kottke, J. L., & Stone, N. J. (2012). Master’s and undergraduate industrial/organizational internships: Data-based recommendations for successful experiences. Teaching of Psychology, 39(2), 100-106.
Stone, P. E., Wang, J., Shin, Y. J., & Dougal, R. A. (2012). Efficient harmonic filter allocation in an industrial distribution system. IEEE transactions on industrial electronics, 59(2), 740-751.
William, T., James, P. and Arora, K. (2015), Research Methods: The Essential Knowledge Base, (2nd edn), USA, Cengage
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