University of Ghana http://ugspace.ug.edu.gh UNIVERSITY OF GHANA READINESS OF VRA HOSPITALS SBU TO OPERATE AS A STAND-ALONE COMMERCIAL VENTURE BY DOH BENJAMIN KAFUI (10289583) THIS THESIS IS SUBMITTED TO THE UNIVERSITY OF GHANA, LEGON, IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF MASTER OF SCIENCE (MSC) DEVELOPMENT FINANCE DEGREE JULY, 2019 University of Ghana http://ugspace.ug.edu.gh DECLARATION I do hereby declare that this thesis is the result of my own research and has not been presented by anyone for any academic award in this or any other University. All references used in this work have been accordingly acknowledged. I bear sole responsibility for any shortcomings. …………………………………………. ……………………………………………… DOH BENJAMIN KAFUI DATE (10289583) i University of Ghana http://ugspace.ug.edu.gh CERTIFICATION I hereby certify that this thesis was supervised in accordance with procedures laid down by the University. …………………………………………… ………………………….. PROF. AQQ ABOAGYE DATE (SUPERVISOR) ii University of Ghana http://ugspace.ug.edu.gh DEDICATION To My wife, Mrs. Perfect Venunye Doh, To Our three lovely children Benedicta, Klenam and Kekeli I love you all iii University of Ghana http://ugspace.ug.edu.gh ACKNOWLEDGEMENTS I am most appreciative to Almighty God for presence, security and sustenance to experience this program. My colossal appreciation additionally goes to my supervisor, Professor A.Q.Q Aboagye, for his bearings and direction all through this investigation. This work would not have been conceivable without his protective help. I additionally express gratitude toward Dr. Charles Andoh and Dr. Lordina Amoah at the department of finance for their commitments during the Seminar arrangement. I respectfully thank Mr. Ralph Punamane, and Madam Love Grace Ofori, both managers at VRA Hospitals SBU for their immense support and facilitations. I thank Mr. frank Yirenkye at the MIS Department for his IT support in designing the electronic questionnaire. My next thanks goes to my wife, Mrs. Perfect Venunye Doh, my mum, Agnes Ama Klu and my siblings Dr, Robert Doh, Mrs. Rose Geli; Etornam Henrietta Doh. I respectively thank Rev. and Mrs. Love Srebi for their spiritual support. To all my Master of Science programme colleagues and those who played various roles during my studies, I say a big thank you for your support. iv University of Ghana http://ugspace.ug.edu.gh Table of Contents DECLARATION ……………………………………………………………….………………………………………………………………………. i CERTIFICATION ……………………………………………………….…………………………………………………………………………….. ii DEDICATION ………………………….…………………………………………………………………………………………………………….. iii ACKNOWLEDGEMENT…………………………………….…………………………………………………………………………………….. iv TABLE OF CONTENT………….……..….…………………………………………………………………………………………………………. v LIST OF TABLES …………….……….…………………………………………………………………………………………………………….. vii LIST OF FIGURES …….……………………………………………………………………………………………………………………………. vii CHAPTER ONE ............................................................................................................................................... 1 1.1 Introduction ........................................................................................................................................ 1 1.2 Problem Statement ............................................................................................................................ 1 1.3 Research Objectives ........................................................................................................................... 3 1.4 Research Questions ............................................................................................................................ 3 1.5 Significance of the Research ............................................................................................................... 3 1.6 Research Limitations .......................................................................................................................... 4 1.7 Profile of Volta River Authority ......................................................................................................... 4 1.8 Chapter Outline .................................................................................................................................. 6 1.9 Definition of Key Terms ..................................................................................................................... 6 1.9.1 Corporate Restructuring ............................................................................................................. 6 1.9.2 Foreign Direct Investment .......................................................................................................... 6 1.9.3 Readiness to Change ................................................................................................................... 7 CHAPTER TWO .............................................................................................................................................. 8 LITERATURE REVIEW ................................................................................................................................ 8 2.1 Introduction ........................................................................................................................................ 8 2.2 Corporate Reorganization and the VRA Strategy .............................................................................. 8 2.3 Foreign Direct Investment ............................................................................................................... 10 2.3.1 Trade openness ......................................................................................................................... 12 2.3.2 Labour cost ................................................................................................................................ 13 2.3.3 Market size ................................................................................................................................ 13 2.3.4 Infrastructure ............................................................................................................................ 14 2.3.5 Economic Security and Development Prospects ...................................................................... 15 2.4 Realities of FDI Regulations ............................................................................................................. 15 2.5 Employee Readiness to Change ....................................................................................................... 17 2.5.1 Individual factor: Intelligence ................................................................................................... 18 v University of Ghana http://ugspace.ug.edu.gh 2.5.2 Process factors: Participation from employees and Quality of communication .................... 19 2.5.3 Context factors: Trust in top management and History of change ......................................... 21 2.5.4 Commitment to change ............................................................................................................ 21 2.6 Conclusion ........................................................................................................................................ 22 CHAPTER THREE .......................................................................................................................................... 24 METHODOLOGY ...................................................................................................................................... 24 3.1 Introduction ...................................................................................................................................... 24 3.2 Research Design ............................................................................................................................... 24 3.3 Sources of Data ................................................................................................................................. 26 3.4 The population of the Study ............................................................................................................ 26 3.5 Sampling and Sampling Techniques ................................................................................................ 26 3.6 Data Collection Tools ....................................................................................................................... 27 3.7 Quantitative Data Analysis .............................................................................................................. 27 3.7.1 Descriptive statistics ................................................................................................................. 27 3.7.2 Non Parametric test .................................................................................................................. 27 CHAPTER FOUR ........................................................................................................................................... 34 RESULTS AND DISCUSSION OF FINDINGS .............................................................................................. 34 4.0 Introduction ...................................................................................................................................... 34 4.1 Summary of Descriptive Statistics ................................................................................................... 34 4.3 Examine the in-depth knowledge of staff on the road map to the New VRA in VRA Hospitals SBU ................................................................................................................................................................ 36 4.4 Examine the strategic position of VRA Hospitals SBU that will attract FDI as proposed .............. 38 4.5 Investigate readiness of staff in VRA Hospitals SBU to support proposed FDI .............................. 44 4.6 Discussion ......................................................................................................................................... 45 CHAPTER FIVE ............................................................................................................................................. 49 SUMMARY, CONCLUSIONS AND RECOMMENDATIONS ........................................................................... 49 5.1 Introduction ...................................................................................................................................... 49 5.2 Summary of key Findings ................................................................................................................. 50 5.3 Recommendations ........................................................................................................................... 53 5.5 Future Research ................................................................................................................................ 54 REFERENCE ………………..……………………………………………………………………………………………………………………….. 55 APPENDICES ………………………………………………………………………………………………………………………………………… 59 vi University of Ghana http://ugspace.ug.edu.gh LIST OF TABLES Table 2. 1: Demographic Index .............................................................................................. 34 Table 2.2: Results of Estimations of the Knowledge Variables ............................................ 35 Table 4.3: Employees commitment to support FDI................................................................. 43 LIST OF TABLES Figure 1.1: Conceptual Framework explaining the relationship among individual, process and contextual factors & readiness to change ………………… .................................................. 22 Figure 4.1: Availability of potable water supply…………........................................................ 37 Figure 4.2: Availability of good road network and Helipad ...................................................... 38 Figure 4.3: Information technology leveraged ……..…..…...................................................... 39 Figure 4.4: Availability of uninterrupted power supply …........................................................ 40 Figure 4.5: Availability of strategic power plant ………........................................................... 40 Figure 4.6: Availability of corporate and public communication network ................................ 41 Figure 4.7: Availability of employees housing units ………..................................................... 42 vii University of Ghana http://ugspace.ug.edu.gh LIST OF ACRONYMS/ABREVIATIONS BRAIS E Build, nurture and develop our human capital Restore our finances Advance internal and external business processes Improve operational and project implementation efficiencies Sustain our position as market leader Ensure development in a sustainable manner FDI Foreign Direct Investment MNCs Multinational companies SBU Strategic Business Unit VRA Volta River Authority viii University of Ghana http://ugspace.ug.edu.gh ABSTRACT Restructuring in the energy sector of Ghana‟s economy is ongoing and Volta River Authority, a lead actor, is not an exception. The Authority intends to adopt public private partnership (PPP) vehicle to convert all non-power businesses (health, education, hospitality and transportation, local government administration of the Akosombo Township) into stand-alone commercial ventures. It therefore outlined the „BRAISE‟ strategy and tasked the Change Management Team to sensitize all staff on the process towards the New VRA. Using 150 respondents, mainly permanent employees, this study investigated readiness of the health services department, now VRA Hospitals Strategic Business Unit (SBU) to operate as a stand-alone commercial venture. We employed non-parametric sign test and descriptive statistic to analyze primary data gathered. The results show that there is enough evidence to suggest proportionate in-depth knowledge of „BRAISE‟ strategy among staff across the locations. However, the evidence suggest lack of staff support for the foreign direct investment (FDI) process. The results for infrastructure readiness has average mean of 4.5 (out of total score of 5) and standard deviation of 0.7. This suggest that the facilities are infrastructure ready to attract FDI. Further, there is sufficient evidence to suggest that staff are not dedicated and willing to do additional work. Since it is costly to attract FDI to execute PPP arrangement we encourage the Authority to ensure a good balance among infrastructure readiness and employees‟ commitment and willingness to do additional work. Government should educate public servants on the importance of FDI, how it will enhance their skills and make them more efficient and productive. ix University of Ghana http://ugspace.ug.edu.gh CHAPTER ONE 1.1 Introduction Restructuring in the Energy sector of Ghana‟s economy is on and VRA a lead actor is not an exemption. With the introduction of VRA beyond aid, the process seemed to be fast-tracked. The company in the bid to convert all non-power businesses of the authority into stand-alone commercial ventures set the year 2020 to achieve this target. The authority, by its creation, is involved in other businesses in non-power sectors such as health, education, hospitality and transportation, and is responsible for local government administration of the Akosombo Township. These entities are said to have been causing a drain on the operations of VRA in the light of challenges confronting the power sector. The legacy debt, financial sustainability of entities and imprudent management of hydro resources are a few of the challenges facing the authority. Following this development, the entire non-power sector were converted into strategic business units (SBUs). 1.2 Problem Statement The traditional vertical SBU seems not to be yielding the kind of result it was set to achieve and therefore the need for SBU across organizational boundaries. This, in the contention set forward by Gillis J. J. (2007) will make cross‐ unit cooperative energies, advance radical redistributing, cultivate the development of new organizations out of what had once been capacities, and seek after development through key coalitions at this equivalent useful dimension. Both corporate and SBU officials need down to earth help to choose which chances to seek after and how to 1 University of Ghana http://ugspace.ug.edu.gh organize them. But, that is not the focus of this work. Irrespective of the kind of alliance a firm will adopt requires massive support from the existing human and infrastructure resources of it. Success or failure of the radical of a corporate reorganization in both structure and ownership ought to be cursorily looked into by the application of employees‟ readiness to change tool. According to Fixen & Blaise (2008), three factors are vital to readiness for change assessment: Supportive organization, the requisite level of staff skills and effective leadership. Now, employees' absence of versatility to change has been observed to be a vital purpose behind the high disappointment rate of hierarchical change endeavors, contended Hong and Kim (2002). The unique nature of the VRA Hospitals SBU, for instance, is that a chunk of their demand base is National Health Insurance Scheme clientele with a limited credit facility with few corporate clientele. Being used to the culture of public service with Corporate Social Responsibility mindset (nonprofit motive) and the need to switch code to public service with profit motive under the proposed investment arrangement requires many adjustments on the part of the employees. It is perhaps due to this that the Authority guaranteed salaries and welfare commitments to all staff but whether or not this intervention is enough to transform and operate the kind of hospital that will be a model of excellence in the market as enshrine in its vision statement, is not yet established. VRA Hospitals SBU, in an attempt to accelerate growth and development, has always encouraged foreign direct investment through many collaborative efforts with UK Motech Life health programmes. 2 University of Ghana http://ugspace.ug.edu.gh It is in view of these concerns that this study seeks to investigate VRA Hospitals SBU‟s readiness in the manner that will attract foreign direct investment (FDI) to become resilient, sustainable and financially sustainable. 1.3 Research Objectives The study set out specific objectives to achieve. These are: 1. Examine the in-depth knowledge of staff on the road-map to the New VRA in VRA Hospitals SBU. 2. Examine the strategic position of VRA Hospitals SBU that will attract FDI as proposed. 3. Investigate readiness of staff in VRA Hospitals SBU to support proposed FDI. 1.4 Research Questions Questions guiding the study are: 1. What is the depth of knowledge of VRA Hospitals SBU‟s staff on the road map to New VRA? 2. How does VRA Hospitals SBU strategically position itself to attract proposed FDI? 3. What is the extent of readiness of staff in VRA Hospitals SBU to support FDI? 1.5 Significance of the Research The importance of the examination can be seen from three points: future research, practice, and policy. Concerning the examination importance, the study seeks to delve into staff readiness to corporate restructuring rather than downsizing characterized with restructuring. The literature on 3 University of Ghana http://ugspace.ug.edu.gh staff readiness to change, with the issues centred on other factors rather than staff welfare, is arguably not common in the public sector. Regarding significance, in practice, the work will provide a guideline to other public companies. On policy, it will serve as a feedback to VRA and other companies undergoing reorganization. Since the New VRA wants to maintain its leading role in the energy sector this work will mean a lot to it. The contribution to practice and policy will become necessary to revitalize the public-private partnership in the Ghanaian economy. 1.6 Research Limitations As indicated in the methodology, 100 staff will be selected randomly based on proximity and against time constraint for the study. The study will not cover the other non-power sectors of VRA. Besides time and cost constraints VRA Hospitals SBU is the largest in terms of population and hence can form the basis of generalization. The study will focus on critical assessment of both the employee and the business unit‟s readiness in the manner that will attract public-private participation as a way of refocusing VRA to become a resilient, sustainable and growing multi- business holding company. 1.7 Profile of Volta River Authority The Volta River Authority (VRA) is an entirely possessed Ghanaian statutory open organization built up by an Act of Parliament, Act 46 on April 26, 1961, with an essential goal to produce and supply electrical vitality for mechanical, business and household use in Ghana. The present vision is a model of magnificence for power utilities in Africa. 4 University of Ghana http://ugspace.ug.edu.gh The Volta River Authority has since 1961 bridled the assets of the Volta River to give electrical vitality to modern, business and local use in Ghana, just as transportation, fishery, and diversion. Beginning with an age limit of 588MW from the Akosombo hydro dam, VRA now works more than 2,300MW from its hydro, warm and sun based plants. This quantum growth has not come without dire challenges; having to operate its thermal plants with crude oil, interspersed with a coincidence of very low water levels and erratic gas supplies whilst ensuring the affordable cost of electricity. For 57 years, VRA has operated as an excellent public institution and have largely delivered on the mandate, that is, to provide power to support the economic and social development of Ghana. The environment of business has however changed. There is competition, the policy, regulatory environment is rapidly changing, and the global change in how the energy sector operates is affecting business. Consequently, the Management of VRA, during its 57th Anniversary celebrations in April 2018, launched the “NEW VRA”. The “NEW VRA” strives to run the various businesses with a different mindset. It, therefore, set for itself a target to continue to provide public service, which remains its mandate, but with a private sector orientation, in a way that provides value to shareholders and customers. The Authority has commenced the implementation of a three-year Financial Recovery Plan, and other initiatives across all areas of operations, to restore the Authority‟s finances and ensure efficiency in service delivery. The objective of the “NEW VRA” is to create a Resilient, Sustainable & Growing Multi-Business Holding Company through investment portfolios of the non-power business. The authority, by its creation, is involved in other businesses in non-power sectors such as health, education, hospitality, and transportation, and is responsible for local government administration of the Akosombo Township. 5 University of Ghana http://ugspace.ug.edu.gh 1.8 Chapter Outline This study comprised six chapters. Chapter one comprises the research background, research problem, research purpose, the objective of the study, research questions, research significance, scope and limitation of the study and the chapter organization of the research. Chapter two provides a review of the literature relevant to the study. The third chapter entails the context of the study, which entails the context of the study, which covers the brief overview of VRA Hospitals SBU and the profile of the case setting. Chapter four deals with the methodological approaches which highlights on the study area, source and study population, sampling techniques and sample size, data collection instrument and method, data processing and mode of analysis, variables and ethical considerations. Chapter five entails data presentation, analysis, and discussion of findings. Finally, chapter six comprises the summary, conclusions, and recommendations. The references and appendices follow this chapter. 1.9 Definition of Key Terms 1.9.1 Corporate Restructuring Corporate rebuilding is a corporate move made to change the structure or the activities of the organization. This normally happens when an organization is confronting critical issues and is in money related danger. It is along these lines basic to take out all the monetary inconveniences and improve the presentation of the organization 1.9.2 Foreign Direct Investment Foreign direct investment refers to capital investment in a foreign firm with the aim of establishing and maintaining permanent equity relations with the foreign firm and at the same time exercising a noticeable influence on the management of that firm. 6 University of Ghana http://ugspace.ug.edu.gh 1.9.3 Readiness to Change Readiness to change is the psychological state involving convictions, frames of mind, and expectations toward a change exertion (Armenakis, Harris and Mossholder, 1993). At the point when preparation for change exists, the association is prepared to grasp change and obstruction is decreased. On the off chance that authoritative individuals are not prepared, the change might be rejected, and hierarchical individuals may take part in negative responses, for example, damage, non-attendance and yield limitation. 7 University of Ghana http://ugspace.ug.edu.gh CHAPTER TWO LITERATURE REVIEW 2.1 Introduction The purpose of this study was to investigate the readiness of the Volta River Authority (VRA) Hospitals Strategic Business Unit (SBU) to operate as a stand-alone commercial venture. Specific objectives outlined to embark on this study include examining the in-depth knowledge of staff on the restructuring change processes, assessing the strategic position of VRA Hospitals SBU to attract proposed FDI and investigating readiness of staff to support the proposed FDI.The chapter contains related literature on the above-mentioned subject area using the objectives of the study as a base. The first section discusses corporate reorganization and the VRA‟s strategy to diversify the non-power sector assets to operate as a stand-alone venture. Discussion on FDI determinants occupies the second section. Employee readiness to change is reviewed in the subsequent section. The conclusion narrowed the issues down to the relevant aspects that will be analyzed methodically. 2.2 Corporate Reorganization and the VRA Strategy Corporate rebuilding is a corporate move made to change the structure or the tasks of the organization. This typically happens when an organization is confronting noteworthy issues and is in money related danger. Frequently the rebuilding is alluded to the approaches to lessen the extent of the organization and make it little. Corporate rebuilding is fundamental to dispense with all the money related inconveniences and enhance the execution of the organization. The troubled organization's administration contracts legitimate and money related specialists to help and exhort in the arrangements and the exchange bargains. The organization can go similarly as selecting another Chief particularly to settle on the dubious and troublesome choices to spare or 8 University of Ghana http://ugspace.ug.edu.gh rebuild the organization. Largely, the organization may take a gander at obligation financing, tasks decrease and offer of the organization's segment to intrigued speculators (eFinanceManagement, 2017). For absence of a more advanced definition, Bowman and Singh (1993, p. 10) recommend a straightforward structure when examining corporate rebuilding. Initially, budgetary rebuilding includes changes in an organization's obligation introduction, its administration structure, and its connections to investors and the capital market. Also, portfolio rebuilding alludes to changes in an association's extent of organizations, to mergers and acquisitions, and additionally to divestitures. Thirdly, hierarchical rebuilding alludes to changes in an organization's structure, forms as well as individuals. Generally, the rebuilding writing has taken a gander at the first and second points of view (Bühner, R., Rasheed, An., and Rosenstein, J., 1997). This paper bargains, particularly with the second definition, however connected to the first perpetually. This is consistent with VRA‟s move to diversify the non-power portfolio investment of its operations. The company in a bid to achieve this set for itself objective to create a Resilient, Sustainable & Growing Multi-Business Holding Company. It is therefore open to private investors and merger processes. With the introduction of IPPs in the Ghanaian power market, the Authority‟s long-standing position as power generator monopoly is long gone, hence, the need to restructure and refocus our business to fit in and compete within the market. This is challenging because it has the public-sector mandate, however, if there is a turn in the way it 9 University of Ghana http://ugspace.ug.edu.gh does things itself, it can transition into a high performance and financially sustainable institution. The BRAISE strategy has therefore been developed to approach the change. BRAISE stands for: i. Build, nurture and develop our human capital ii. Restore our finances iii. Advance internal and external business processes iv. Improve operational and project implementation efficiencies v. Sustain our position as market leader vi. Ensure development in a sustainable manner A critical perusal of the above brings home the fact that corporate reorganization is a complex process that involves the commitment of both the employees and management. 2.3 Foreign Direct Investment Foreign direct investment (FDI) is an investment by multinational corporations (MNC) in local firms in which the former take control over management. In short FDI is a form of equity investment that cede management control to the MNC. FDI has been generally affirmed to be the best source of external capital inflows yet there are ill feelings on the factors that determinants. For example, Nunnenkamp (2002) contended that conventional market-related determinants are as yet overwhelming elements for FDI. Couples of parts sway and deal with the dimension of FDI from a source into a host country. As shown by Lokesha and Leelavathy (2012), the characteristics of both scaled down scale and enormous scale condition sway the outcome and the flood of capital. FDI determinants can 10 University of Ghana http://ugspace.ug.edu.gh similarly be gathered into three zones: a game plan structure, money related, and business help (UNCTAD, 1998) alluded to in Sahiti, An., Ahmeti, S., and Ismajli, H. (2018) appropriation. Sorts of determinants perceived as to different countries move from one onto another (Wijeweera and Mounter, 2008). In addition, as demonstrated by Asiedu (2002), the determinants of FDI change even across overworld regions. Along these lines, understanding the determinants of FDI is of chief importance for host countries to procure a layout and a portrayal of the segments that effect the flood of capital into their economies. Along these lines, this empowers separate governments to take fitting measures concerning macroeconomic plans, to bring forcefulness up in a solicitation to make their country more engaging than others (Bénassy‐ Quéré, Coupet, and Mayer, 2007 alluded to Sahiti et. al. (2018). UNCTAD (1998: 108 ff.) referred to in Nunnenkamp (2002) production contends that globalization has prompted a reconfiguration of the manners by which MNEs seek after their asset chasing, advertise looking for, and productivity looking for goals. In like manner, Dunning, J., and Narula, R. (2003) contend that the intentions in, and the determinants of FDI have changed. As indicated by them, FDI in creating nations has moved from market-chasing and asset looking for FDI to more (vertical) proficiency looking for FDI. Because of globalization-incited weight on costs, MNEs are relied upon to move a portion of their creation offices to low (genuine) cost creating nations. Market-related factors unmistakably emerge among customary FDI determinants. In a much of the time cited review of the before writing on FDI determinants, Agarwal, S., and Mohtadi, H. (2004) found the measure of host nation markets to be the most well known clarification of a nation's inclination to draw in FDI, particularly when FDI streams to creating nations are considered. 11 University of Ghana http://ugspace.ug.edu.gh In view of the examined writing survey, our examination measures an arrangement of potential determinant factors that impact the FDI streams and we characterize the factors into five general classifications, viz., Exchange receptiveness, Work cost, Market estimate, Foundation offices, Monetary security, and Development Prospects. 2.3.1 Trade openness According to Dowrick and Golley (2004) alluded to in Sahiti et. al. (2018) creation, trade openness reflects the extent of total trade inside an economy. Toward the day's end, it addresses the aggregate of total admissions and imports to the Gross household item. Composing relating to determinants sees trade straightforwardness as a basic variable that effects the nature and dimension of FDI inflows. Factors that effect openness join both trade checks and trade restrictions constrained by host countries. Inconvenient trade confinements that run counter to overall organizations' interests will when all is said in done addition trade preventions for getting to the host country's business areas. In the long run, such a condition impacts their essential administration structures dependent on the theory. Regardless, the significance of trade openness is seen particularly by MNCs and depends upon the endeavor type they should participate in. While a couple of firms slant toward increasingly changed markets with least trade checks to diminish trade costs, others attempting towards passage related theories are more for host publicizes that power limits and confinements on trade against imports beginning from adversaries with the ultimate objective to acquire and expand existing possible advantages in the family advertises (Asiedu, 2002). 12 University of Ghana http://ugspace.ug.edu.gh 2.3.2 Labour cost This variable is predominantly proxies by compensation rate and implies the rate change of work cost in a host country. It is commonly believed that trashy work cost is inclined to encourage MNCs to place assets into remote markets allowed to dispense with age costs. By examination, higher business related costs will when all is said in done create backwards impacts (Cohen, 2007). Regardless, test examinations portray heterogeneous effects on the association between work cost and FDI inflows. The association between FDI and pay rates seem to seek after the related example both in made and less made countries. 2.3.3 Market size The composing exhibits that market size can be proxies by GNP, Gross domestic product per capita or Gross domestic product. This is seen as among the most basic FDI determinants for MNCs that attempt to expand their assignments into remote markets. Market sizes genuinely do have any kind of effect for a few, MNCs given the prospects to secure broad aggregates of advantages. Thusly, sizeable markets will without a doubt pull in a progressively conspicuous number of remote firms and thusly raise the power. The greater the market, the more open entryways for MNCs to achieve their economies of scale and decrease age related expenses (Cohen, 2007). In any case, the centrality of market measure scatters in reference to exchange based MNCs that don't have the perfect target business focuses in the host countries, when contributing abroad, fought Sahiti et. al. (2018). Their examination includes that MNCs may take an interest in FDI to get to another center market for charge related purposes. Furthermore, given the relevance of government approaches as for prompting of FDI flood in a host country, publicize size may potentially deliver advancement as long as the family unit institutional framework and macroeconomic condition wear not run counter to MNCs' short and whole deal 13 University of Ghana http://ugspace.ug.edu.gh key goals. Countries like Singapore and Malaysia, paying little mind to their little economies diverged from Argentina, Brazil, and India, are yet prepared for battling insistently as a result of significantly increasingly well-arranged FDI approaches (Oman, 2000). On the other hand, an examination driven by Asiedu (2002) reflect a negative relationship for Mauritius and sub- Saharan Africa countries, separately. The last examination tries to legitimize disclosures given the evident peril of the region by MNCs. In any case, as opposed to Africa, the country of Mauritius has been compelling in pulling in outside monetary authorities notwithstanding the decently little market gauge because of existing incredible opportunities to attract toll based MNCs. 2.3.4 Infrastructure The nature of infrastructure is a basic determinant that can deal with the pace of progress, yield levels and advancement rates (Kirkpatrick, Parker, and Zhang, 2006). The possibility of foundation on a host country can affect MNCs' dimension of productivity and capability and, accordingly, in the long run choose the FDI inflows and theory types. As shown by Kumar (2006), foundation add to FDI advancement if each other variable that effect inflows remain relentless. Additionally, exchange based MNCs accurately consider the availability of the structure of a host country with the true objective to get to various markets given the congruity of transport, communicate correspondences, water, and power supply. The more individual governments place assets into an establishment that can facilitate with the possibility of MNCs' key focuses on, the more significant the odds to pull in greater amounts of grandiose organizations because of an adequate theory climate. Zhou et al. (2002), by concentrate the 14 University of Ghana http://ugspace.ug.edu.gh determinants of Japanese FDI in China, found that the establishment had expected a basic occupation and massively influen 2.3.5 Economic Security and Development Prospects A country that has a stable macroeconomic condition with high and managed development rates will get more FDI inflows than an increasingly unusual economy. The middle people assessing improvement rate are Gross household item advancement rates, Mechanical age list, financing costs, Expansion rates (Vijayakumar et. al., 2010). Conflictingly, when swelling is taken as a go- between for the dimension of budgetary quality, by then the commendable symptoms of monetary or cash related control would result in unbridled development. With respect to, monetary masters like to place assets into even more unfaltering economies that mirror a lesser dimension of weakness (Nonnenberg and Mendonca, 2004). Therefore, it is ordinary that Gross household item improvement rate, Modern creation list, Loan expenses would affect FDI streams unequivocally and the Swelling rate would affect decidedly or oppositely. 2.4 Realities of FDI Regulations In the contentions of Sun, X. (2002), there exist other prejudicial directions of FDI around the globe. As per him, segregation may work either by favouring the interests of host nationals over those of nonnatives or by favouring the interests of outsiders of specific countries over nonnatives of different countries. Since the extent of activities that may comprise "segregation" is exceptionally wide, even global prescribed procedures miss the mark regarding genuine "non- separation" as far as equivalent treatment of every single outside speculator. In any case, for any country trying to support monetary advancement through remote exchange and venture, it is alluring to recognize the rule that the laws of the host country ought not to oppress or between 15 University of Ghana http://ugspace.ug.edu.gh outside financial specialists. Under these standards, most nations' venture directions concretize into a progression of techniques that screen, support, and screen private speculation, including FDI. While the rundown of strategies changes from nation to nation, they more often than not fall into the accompanying three general classifications. The greater part of these strategies applies similarly to both remote and residential financial specialists, albeit some are obviously expected for outside organizations as it were. According to Sun, X. (2002), country specific factors influencing FDI revolves around these regulations: Incorporation, organization enrollment, sectoral licenses, charge enlistment, measurable enlistment and government disability. The rest are motivation endorsements, visas, work and living arrangement grants for outside financial specialists and remote trade enrollment for remote venture. About area methods, the guidelines are buy/rent understandings, land titling and cadaster, land use authorization/re-zoning, natural freedom/sway appraisals and development license. The rest are site examinations, occupation grants and utility associations. Assessment detailing and examinations, fire, wellbeing and security investigations, import-send out strategies and clearances, specialized standard endorsements/accreditation and work guidelines are viewed as working guidelines. In principle, all these administrative strategies might be vital, with each filling an exceptional need. Practically speaking, be that as it may, incredible varieties exist between nations with respect to which techniques are really required and how they ought to be controlled. Unseemly administrative frameworks can considerably diminish an association's capacity to contend globally, contort venture choices, or prevent speculation totally. It is in such points of interest that a speculator recognizes an ace venture administrative structure from a hindrance one. 16 University of Ghana http://ugspace.ug.edu.gh 2.5 Employee Readiness to Change Lewin's model of the change procedure is one of the most seasoned models on human frameworks. In his model, Lewin has proposed three phases to realize the change in any framework: unfreezing, changing and refreezing Burnes (2004). Schein (1987) additionally investigated Lewin's three-arrange process demonstrate and in this way gave a case of a contemporary way to deal with hierarchical change. He thought about unfreezing as a procedure for making availability for change and inspiration (disconfirmation, the presentation of blame or uneasiness and the production of mental security). The second step for Schein's changing (psychological rebuilding) is the way toward helping individuals to see things distinctively and respond diversely later on. The third step includes incorporating the procedure through close to home refreezing and social refreezing. Holt, Armenakis, Feild and Harris (2007) referred to in Devi, Kamalanabhan and Bhattacharyya (2011) distribution additionally fortified this by recognizing that the way toward actualizing change effectively comprises of three phases, specifically: Status to change reception and regulation. In this way, understanding worker preparation to change could fill in as a manual for authoritative pioneers as they approach changes and decide the best method of executing those changes. The model (Figure1.1) proposed by Devi et al., (2011) in their article on worker availability to change and individual insight will be connected to VRA Doctor's facilities SBU. Though the model was first connected to an assembling firm in India it will be utilized in the wellbeing administration division in the distinctive land territory (Ghana) to test its significance and portrayal. These precursors are examined beneath. 17 University of Ghana http://ugspace.ug.edu.gh 2.5.1 Individual factor: Intelligence Insight is to a great extent a dismissed subject in the region of authoritative conduct. Until the most recent decade, none of the authoritative conduct course books conveyed any reference to the idea of knowledge. Just by mid-90s had the idea of IQ (Insight Remainder) picked up force, on account of the idea of passionate knowledge advanced by Goleman (1995). Well before Goleman be that as it may, as ahead of schedule as 1920, Thorndike had expounded on social insight. As indicated by him, insight was of three structures, in particular - dynamic knowledge, mechanical knowledge and individuals/social insight (as cited in Sternberg, 2000). Wechsler (1950) recognized that the Image Gameplan subtest of the Weschler Grown-up Knowledge Scale (WAIS) may fill in as a proportion of social insight since it surveys the person's capacity to fathom social circumstances. In his view, in any case, "social insight is simply broad knowledge connected to social circumstances". As per him, insight isn't only the capacity to learn, to digest, to benefit as a matter of fact yet, in addition, to alter and accomplish. For the present examination, singular knowledge is conceptualized as far as Sternberg's (1985) triarchy hypothesis of insight – scientific, imaginative and useful insight. Sternberg and his partners have appeared with some achievement the general autonomy of the three proposed parts of knowledge. For instance, a corroborative factor examination of an exploration-based instrument, the Sternberg Triarchic Capacities Test, uncovered three unmistakable and generally autonomous variables relating to the logical, innovative, and pragmatic parts of insight. Nevo and Chawrski (1997) investigated the connection between non-scholastic parts of insight (inferred learning and viable knowledge): commonsense knowledge and unsaid information were found to clarify a noteworthy extent of expert achievement in migration (Nevo and Chawarski, 1997). Social knowledge is regularly viewed as the develop starting point of enthusiastic insight and reasonable knowledge (Roberts, Zeidner, Matthews, 2001). Investigative, useful, and innovative 18 University of Ghana http://ugspace.ug.edu.gh insight were altogether observed to be identified with some degree to self-revealed regular versatile working (Grigorenko and Sternberg, 2001). Sternberg and Hedlund (2002) brought up that albeit down to earth insight is conceptualized as comparative or the equivalent as social knowledge, useful knowledge isn't restricted to its utilization in tackling issues of social nature. Singular representatives' passionate and down to earth insight was observed to be fundamentally identified with their level of a pledge to the association (Humphreys, Weyant and Sprague, 2003). The passionate knowledge of the representative was observed to be decidedly identified with worker state of mind towards change and additionally to encourage the change procedure (Huy, 1999; Vakola and Nikolaou, 2005; Chrusciel, 2006). According to Herkenhoff (2004), another normal region of progress inside associations includes looking for larger amounts of worker activity and development. Inventive individuals adjust effectively to change as well as are additionally more prone to lead it. For the present examination, handy knowledge and imaginative insight are considered as autonomous factors which are taken from Sternberg's (1985) triarchy hypothesis of knowledge. 2.5.2 Process factors: Participation from employees and Quality of communication One of the prior examinations that prominent the centrality of cooperation of representatives in the change procedure is that by Coch and French (1948). Through an assortment of tests at the Harwood Assembling Plant, they saw that gatherings that were permitted to take part in the structure and improvement of progress had a much lower opposition than the individuals who did not. Representatives must trust that their sentiments have been heard and given regard and watchful thought (Reichers, Wanous and Austin, 1997). On the off chance that the representatives are urged to take part and their data sources are reliable and truly enrolled, it is 19 University of Ghana http://ugspace.ug.edu.gh required to build duty and execution, lessen protection from change and some of the time even improve the acknowledgement of moderately negative choices (Wanberg and Banas, 2000). The test that always repeats in all change ventures is administrations' battle to defeat workers' relentless state of mind to stay away from change. In concentrates that straightforwardly inspected the impact of giving data, nitty-gritty data about a change has been appeared to less protection from change (Wanberg and Banas, 2000). Representatives that detailed getting auspicious, enlightening and helpful data around an authoritative change exhibited a more positive assessment of the change and expanded the ability to participate with it (Wanberg and Banas, 2000). A few writers guarantee that correspondence of progress is the essential instrument for making preparation for change among authoritative individuals (Reichers et al., 1997; Armenakis and Harris, 2002; Bernerth, 2004). Inadequately overseen change correspondence regularly results in far-reaching gossipy tidbits, which will, in general, misrepresent the negative parts of the change and fabricate obstruction towards change. In this manner, the nature of correspondence will regularly decide how workers fill in the spaces of missing change data. Along these lines, routine notice about what is going on is a flat out must. Aside from the way that changes ventures ought to be declared in an auspicious manner, and ideally by the administration, another critical issue is with respect to why the change is going on. As such, the administration should answer the inquiry regarding why change is urgent. To finish up, the nature of correspondence characterizes the legitimization for the reasons concerning why change is fundamental, lessens the change related vulnerability and assumes a pivotal job in moulding workers' status for change. 20 University of Ghana http://ugspace.ug.edu.gh 2.5.3 Context factors: Trust in top management and History of change It has been built up that status for change will be firmly undermined when the conduct by essential good examples (i.e. pioneers) is conflicting with their words (Kotter, 1995). A standout amongst the most troublesome things workers encounter when gone up against with change is the vulnerability, the vagueness, the multifaceted nature and tensity related with the procedure and results (Difonzo and Bordia, 1998). Trust in the best administration is observed to be basic in actualizing key choices and a basic determinant of worker's transparency toward change (Korsgaard, Schweiger and Sapienza, 1995; Rousseau and Tijoriwala, 1999; Eby, Adams, Russell and Gaby, 2000). The availability to change is affected by the reputation of effectively executing major authoritative changes (Schneider, Brief and Guzzo, 1996). Individuals will, in general, create pessimism about new authoritative change, as a result of negative encounters before (Reichers, Wanous and Austin, 1997; Wanous Reichers and Austin, 2000). The edge of reference to decide the probability of achievement in the past change record. 2.5.4 Commitment to change Individuals from an association must be the key wellspring of vitality for authoritative change forms, and henceforth their dedication and contribution is essential for effective hierarchical change. The key test of progress lies in picking up representatives' readiness to focus on the change exertion. Herscovitch and Meyer's (2002) conceptualization of pledge to change as a three-dimensional develop – full of feeling, continuation and regulating - is relied upon to go about as an arbiter for the examination. The three segments of a pledge to change were observed to be for the most part recognizable from the three segments of authoritative responsibility. It was likewise seen that responsibility to change contributes far beyond hierarchical duty to the forecast of workers' self-revealed social help for change (Herscovitch and Meyer, 2002). There 21 University of Ghana http://ugspace.ug.edu.gh are very few investigations on the connection between knowledge and pledge to change. In any case, singular workers' passionate and handy knowledge was observed to be essentially identified with their level of promise to the association (Humphreys et al, 2003). Full of feeling a responsibility to change was found to significantly affect the achievement of the changing usage (Ward, Cadwallader, and Busch, 2008). Authoritative responsibility was found to go about as a middle person in the change procedure (Iverson, 1996; Yousef, 2000). Individual factors •Creative intelligence •Practical intelligence Commitment to change Contextual factors •Trust on top management Readiness to change •History of change Process factors •Participation •Quality of communication Figure 1.1: Conceptual Framework explaining the relationship among individual, process and contextual factors & readiness to change 2.6 Conclusion People from an affiliation must be the key wellspring of imperativeness for legitimate change frames, and consequently, their devotion and commitment is basic for successful various levelled change. The key trial of advancement lies in getting delegates' preparation to centre around the 22 University of Ghana http://ugspace.ug.edu.gh change effort. Herscovitch and Meyer's (2002) conceptualization of vow to change as a three- dimensional create – loaded with feeling, continuation and controlling - is depended upon to go about as a mediator for the examination. The three fragments of a vow to change were seen to be generally unmistakable from the three sections of definitive duty. It was in like manner seen that obligation to change contributes a long ways past progressive obligation to the figure of labourers' self-uncovered social help for change (Herscovitch and Meyer, 2002). There are not very many examinations on the association between learning and vow to change. Regardless, particular labourers' enthusiastic and helpful information was seen to be basically related to their level of guarantee to the affiliation (Humphreys et al, 2003). Brimming with the feeling duty to change was found to fundamentally influence the accomplishment of the change utilization (Ward, Cadwallader, and Busch, 2008). Legitimate duty was found to go about as a centre individual in the change methodology (Iverson, 1996; Yousef, 2000). 23 University of Ghana http://ugspace.ug.edu.gh CHAPTER THREE METHODOLOGY 3.1 Introduction This chapter deals with the research methodology. The methodology describes the procedures in conducting research. It identifies the population and sample techniques used to achieve the purpose of the study. In addition, the procedure used in administering the questionnaires in the collection data and data analysis techniques will be explained. The chapter also provides the organization profile of the selected organization (Volta River Authority Hospitals Strategic Business Unit). The research will adopt self-administered questionnaire method, as the objective is to get information from a large number of employees on the readiness of the hospital to operate as a stand-alone commercial venture on the back of FDI and staff support. Data collections will be in the form of primary data. 3.2 Research Design The structured self-administered questionnaire will be used to collect data on the main independent variables. These variables are staff knowledge in the change (restructuring) process, FDI determinant (infrastructure) and staff readiness to support FDI. Demographic index on the respondents will also be collected. The self-administered questionnaires will enable the researcher to cover a large number of respondents from all the four operational areas of VRA. This will also enable the respondents to complete the questionnaires at their convenience and by so doing getting responses that enable valid conclusions to be drawn. The questionnaire will be in four main sections (A, B, C; D) covering all the explanatory variables listed above. The first section (A) will collect data on the respondents‟ background information to develop a demographic index. In the second section (B), the respondents will be presented with both 24 University of Ghana http://ugspace.ug.edu.gh closed-ended and open-ended questions to select or provide most appropriate response. This inventory will measure the level of staff‟s knowledge on restructuring processes. The third section (C) will require respondents to critically assess the existing facilities that have the potentials of drawing in FDI. With the end goal of this investigation, the announcements spread the main framework as the primary determinant of FDI. In the last section, respondents will be approached to respond to articulations regarding status for change as the reliant variable and Participation in Decision Making, Quality of Communication ©, Trust in Management and Commitment to Change as the autonomous factors. Likert scales with a five-point reaction position will be utilized. Segment D set of inquiries is taken from officially existing scales and have effectively demonstrated their dependability, legitimacy and viable significance. The issues of speculation in every single quantitative examination are connected to the nature of the example taken. Issues in regards to examining are talked about here with respect to targets as expressed previously. Just representatives of the VRA Hospitals SBU from the four areas will be qualified for getting the review poll. Aside from Akosombo respondents, the electronic survey will be sent to chosen respondents in different areas. This is conceivable on the grounds that the corporate viewpoint specialized apparatus is accessible to all staff. This implies the components for the conceivable example are outstanding. Because of the moderately little size of the four offices in the examination, it will likewise be conceivable to upset components outside the inspecting outline from cooperation. The example casing intended for the investigation is underneath. 25 University of Ghana http://ugspace.ug.edu.gh High quality and ethical guidelines will be strictly adhered to by acquiring educated assent from members, securing the anonymity and secrecy of members, staying away from tricky practices when planning the exploration and furthermore giving members the privilege to pull back from the examination inquire about whenever. The executives will be guaranteed of keeping up high privacy provision in the corporate approach. 3.3 Sources of Data The primary data source was used in the study. A well-structured self-administered questionnaire on all the three objectives of the study was developed to gather data. 3.4 The population of the Study All staff from the top management, middle to the junior level of VRA Hospitals SBU makeup the population of the research. The target population for the study will be the 150 staff. 3.5 Sampling and Sampling Techniques The study adopts a purposive sampling technique to select respondents. As a result, only permanent medical team, paramedics (Laboratory, Radiology, Pharmacy staff) and administrative support staff who has a permanent office will constitute the respondents. Orderlies, catering attendants, and mortuary attendants are excluded. Purposive sampling is a situation where the researcher will depend on his knowledge of the population and handpick certain members who possess relevant data on the subject under study. One major advantage of purposive sampling is that it ensures that the researcher gets at least, some information from respondents who are knowledgeable and crucial to the study. In this study, the researcher based 26 University of Ghana http://ugspace.ug.edu.gh selection of respondents on the proportion of staff strength of the various locations. This is to help the researcher obtain a fair representation of opinions. The sample included 70 staff from Akosombo, 15 from Aboadze, 10 from Accra and 5 from Akuse. It was based on the size of the various facilities 3.6 Data Collection Tools In an effort to collect information to provide answers to research questions raised, a research self-structured questionnaire will be used to solicit for the needed information from the large respondents. This will cover three sections aligned with the research objectives. 3.7 Quantitative Data Analysis Collected data will first be arranged, codded, captured and analyzed using E-view tool. The results of the study will be presented in graphs, tables, and figures so that readers can relate to it easily. How this will be done is detailed below. 3.7.1 Descriptive statistics SPSS tool will be used to generate data collected. Descriptive statistics will then be used to analyze demographic index, reflective of means, standard deviations and variance for each of the items in Section A of the questionnaire. The items cover sex, age qualification, position and years of experience of respondents. 3.7.2 Non Parametric test Non-parametric tests are used if the assumptions for the parametric tests are not met, and are commonly called distribution free tests. The advantage of non-parametric tests is that we do not 27 University of Ghana http://ugspace.ug.edu.gh assume that the data come from any particular distribution (hence the name). Nonparametric methods are often used on a greater variety of data because they require fewer conditions than their parametric counterparts do. For this reason, it is less likely that nonparametric hypothesis tests will be performed inappropriately. Nonparametric methods can be applied to categorical (qualitative) data. Nonparametric tests replace the actual data values with either positive or negative signs (+ve or -ve). The researcher chose this method of analysis because nonparametric computations tend to be easier than their parametric counterparts are. To improve its efficiency, for a given level of significance (alpha), nonparametric tests require a larger sample size to reject a null hypothesis. It is for this reason the researcher chose sample size of 100. The step-by-step approach to be used in the analysis are detailed below. Objective 1: Examine the in-depth knowledge of staff on the road map to the New VRA in VRA Hospitals SBU. Questions to help analyze this outcome include: Which aspect of the “BRAISE” would you want further explanation? Are you inspired by the “BRAISE” Strategy? Yes [ ] No [ ] Not sure [ ], If Yes, why? How will you rate the “BRAISE” Strategy for the “New VRA”? (Please select) Very Good [ ] Good [ ] Average [ ] Bad [ ] Very Bad [ ]; How will you rate the “BRAISE” Team in terms of delivery? Very good [ ] Good [ ] Average [ ] Poor [ ] Very poor [ ]. 28 University of Ghana http://ugspace.ug.edu.gh Positive signs and negative signs will be assigned to the responses because nonparametric test procedure required so. Find below the approach to the hypothesis test.  State Hypotheses as; Ho: There is no difference in in-depth knowledge on „BRAISE‟ strategy among staff Ha: There is difference in in-depth knowledge on „BRAISE‟ strategy among staff, under 0.05 significance level. Ho represent null hypothesis, Ha represent alternate hypothesis. Significance level of 0.05 means the researcher is 95% confident in the outcome of the hypothesis test.  Find the value of the test statistic (x²): Represent observed frequency result Represent expected observed frequency result  Find the critical value and state the rejection rule. The critical value is read from Chi- Square Statistic table using alpha and degree of freedom (α, k-1). Degree of freedom is k- 1 where k refers to number of cells. The cell represent the number of groups (Akosombo, Aboadze and Accra)  Compare the test statistic with the critical value: This s to find out whether the test statistic is greater or equal to critical value (x² ≥ α) or vice versa. 29 University of Ghana http://ugspace.ug.edu.gh  State the conclusion and interpretation: Base on the findings above, conclusion and interpretation will be offered. If the test statistic is greater or equal to the critical value (x² ≥ α), reject the null hypothesis and upheld the alternative hypothesis and vice versa. Objective 2: Examine the strategic position of VRA Hospitals SBU that will attract FDI as proposed Descriptive statistics will be used to analyze the infrastructure readiness to attract FDI. The variables that will help carry out this analysis listed in the table below. (Where 1 = Strongly Disagree; 2 = Disagree; 3 = Undecided; 4 = Agree; 5 = Strongly Agree) Availability of potable water supply 1 2 3 4 5 Availability of good road network and Helipad at Akosombo township 1 2 3 4 5 Information technology highly leveraged 1 2 3 4 5 Availability of uninterrupted power supply 1 2 3 4 5 Availability of strategic power plant at Akosombo 1 2 3 4 5 Availability of corporate and public communication network 1 2 3 4 5 Availability of employees housing units 1 2 3 4 5 FDI Infrastructure attractiveness Objective 3: Investigate readiness of staff in VRA Hospitals SBU to support proposed FDI The variables that will help test the hypotheses on this objective are listed in the table below. Positive signs (+ve) will be assigned to ratings 4 and 5, negative signs will be assigned to ratings 1 and 2 while 3 will be considered indifferent. (Where 1 = Strongly Disagree; 2 = Disagree; 3 = Undecided; 4 = Agree; 5 = Strongly Agree) 30 University of Ghana http://ugspace.ug.edu.gh I will support any investment that will enhance my skills and delivery 1 2 3 4 5 I feel optimistic that Foreign Direct Investment is preferred to debt financing 1 2 3 4 5 I will work hard to make the public-private participation successful 1 2 3 4 5 I trust management to lead the desired change process 1 2 3 4 5 I take part in decision making 1 2 3 4 5 There is quality communication between management and staff 1 2 3 4 5 The Authority handled major organizational change in the past well 1 2 3 4 5 The change process motivates me to work hard 1 2 3 4 5 I am dedicated and willing to do additional work 1 2 3 4 5 Support for a private investor, commitment and change readiness The steps to undertake this are:  State Hypotheses as; Ho: There is no difference in staff‟s commitment to support FDI process Ha: There is difference in staff‟s commitment to support FDI process Given level of significance (alpha), α = 0.05 Ho represent null hypothesis, Ha represent alternate hypothesis. Significance level of 0.05 means the researcher is 95% confidence in the outcome of the hypothesis test.  Find the value of the test statistic (z): Z = Represent the positive values, factoring error terms ± 0.5. This depends on the position of the population mean ( ) on the kurtosis. You will add 0.5 to the value if it is 31 University of Ghana http://ugspace.ug.edu.gh less than the population mean and less 0.5 from it if the value is more than the population mean. The error term takes care of the degree of errors in the value. = 0.5(n) The expected population mean ( ) is derived by multiplying the total observation (less any indifferent value) by 0.5. This represent the median value of the observed data. Standard deviation ( is derived by multiplying total observation (less any indifferent value) by 0.25 and apply square root to the result.  Find the critical value and state the rejection rule. The Z-critical value is read from Standard Normal Distribution table. P-value is then computed from the Z-critical value.  Compare the test statistic with the critical value  State the conclusion and interpretation Market size will not be considered in this study because apart from Accra facility, the rest of the locations have no competitors in discharging health delivery. For instance, the Akosombo facility, being the headquarters serves as the only referring center in Asuogyaman district. Besides, the facilities renders services to National Health Insurance clientele. Openness as a determinant of FDI will also be of no interest to the researcher because of already existing relationship with multinational company called Motec Life-UK. Per the memorandum of 32 University of Ghana http://ugspace.ug.edu.gh understanding, a team of expert Doctors visit the facility annually to perform complex Elective Procedures purely on fee paying basis. 33 University of Ghana http://ugspace.ug.edu.gh CHAPTER FOUR RESULTS AND DISCUSSION OF FINDINGS 4.0 Introduction This chapter discusses the data analysis, results and findings in line with the objectives and hypothesis outlined in chapter one. The chapter used descriptive statistics to analyze demographic index and infrastructure readiness to attract foreign direct investment (FDI) variables while non-parametric sign test was used to measure employee‟s in-depth knowledge as well as commitment to the restructuring strategy. The relationships among the variables were included while discussing and presenting the empirical findings. 4.1 Summary of Descriptive Statistics The summary statistics of the variables are presented in Table 4.1. There are 150 respondents comprising 42% males and 58% females. The table revealed that 52% are above 40 years and the remaining population, 48% are within 18 and 40 years. The results also show that majority of the employees, 49% report obtaining Diploma or other certificate as their highest level of educational attainment, 30% report obtaining first degree certificate as their highest level of education and 21% report obtaining Master‟s certificate as level of education. Considering the position held as employee, 46% report being within the junior staff category. The rest of the employees are distributed across the other position held as follows: senior staff 40%, management staff 6% and others (mainly Seconded staff) 8%. This shows that majority of staff are split between junior staff and senior staff. The percentage of employees‟ number of years with VRA Hospital Strategic Business Unit (SBU) shows result as follows: majority, 43% serves the Authority for more than 10 years, 29% of employees served for within 5-9 years, those who served within 1-4 years constitute 16% and the rest, 11% served for less than a year. This suggest 34 University of Ghana http://ugspace.ug.edu.gh that majority of respondents are conversant with the corporate culture and can make inform contribution to this research. As suggested, almost all the respondents have tertiary education, as their highest form of education and this is likely to translate into valid responses, as this is relevant to recommendations. In addition, the result reflects a balanced mixed of employee category as this defeat results being skewed to one side. Table 4.1: Demographic index Variable Measure Response Frequency Total Total % Akosombo Accra Aboadze Sex Male 37 6 20 63 42 Female 67 9 11 87 58 Age 18-30 5 3 2 9 6 31-40 38 9 15 63 42 41-50 32 3 9 44 30 51-60 29 0 5 34 22 Highest academic SSCE/WASSCE 0 0 0 0 0 and professional Diploma/Other Certificate 57 6 11 73 49 qualifications st 1 Degree obtained 31 3 11 44 30 nd 2 Degree and higher 17 6 9 32 21 Position held at Junior staff 47 9 12 69 46 VRA Hospitals SBU Senior staff 43 3 14 60 40 35 Demographic University of Ghana http://ugspace.ug.edu.gh Management staff 6 2 2 9 6 Others 8 2 3 12 8 Number of years <1 year 14 0 3 17 11 with VRA Hospitals 1-4 years 8 3 14 24 16 SBU 5-9 years 32 9 2 43 29 ≥10 years 50 3 12 64 43 Source: Author‘s estimate from field survey 4.3 Examine the in-depth knowledge of staff on the road map to the New VRA in VRA Hospitals SBU The first hypothesis of this study is to examine whether the in-depth knowledge on the restructuring strategy is proportional across all the three locations, Akosombo, Accra and Aboadze. The result of this test is in Table 4.2. The result is in respect of the 135 respondents who confirmed to have attended the BRAISE sensitization programme and have responded positively. Among the reasons cited for not taking part in the sensitization programme by the remaining 15 employees, constituting 10% were annual leave or training, and out of location work schedule. 36 University of Ghana http://ugspace.ug.edu.gh Table 4.2: Results of Estimation of the Knowledge Variables, using Pearson’s Chi square test Calculated Critical Expected Chi square value Variables Location Observed Observation Difference (x²) read Decision (f) (ei) (f-ei) [(f-ei)²/ei] 49 53.2 -4.2 0.3315789 Akosombo 6 7.6 -1.6 0.3368421 Accra Are you 21 15.2 5.8 2.2131579 Aboadze Do not reject inspired by the 'BRAISE' 76 76 2.8815789 null strategy? Total 5.99 hypothesis 70 66.5 3.5 0.1842105 Akosombo 5 9.5 -4.5 2.1315789 Accra How will you rate 'BRAISE' 20 19 1 0.0526316 Aboadze Do not reject strategy for the 'New 95 95 2.3684211 null VRA'? Total 5.99 hypothesis 49 48.3 0.7 0.0101449 Akosombo 3 6.9 -3.9 2.2043478 **Do you Accra think your work will 17 13.8 3.2 0.7420290 contribute to Aboadze Do not reject the success 69 69 2.9565217 null of 'BRAISE'? Total 5.99 hypothesis Note: Alpha is 0.05 and the degree of freedom is (df) is 2. The critical values were obtained from Chi-squared distribution table. **Negative response x² Critical value = (α,df) In Table 4.2, the first column shows critical independent variables to measure BRIASE sensitization programme among staff. The variables include “Are you inspired by the 'BRAISE' strategy”, “How will you rate 'BRAISE' strategy for the 'New VRA‟” and “Do you think your work will contribute to the success of 'BRAISE'?”. Similarly, the various locations are in column two, frequency of observed values is in column three (3) with the expected observations in column four (4), the difference between the observed and expected observed values is in column five (5). Column six (6) is occupied by the test statistic (x²) with the critical value (df, α) in seven 37 University of Ghana http://ugspace.ug.edu.gh (7) and the last column is decisions based on results. The results from Table 4.2 are discussed below. The independent variables considered in this study include are you inspired by the 'BRAISE' strategy, how will you rate 'BRAISE' strategy and do you think your work will contribute to the success of the strategy? 4.4 Examine the strategic position of VRA Hospitals SBU that will attract FDI as proposed The idea of infrastructure on a host nation can impact MNCs' level of profitability and proficiency and, therefore, eventually decide the FDI inflows and speculation types. In this section, the results are in two folds. Histogram and measures of central tendency. The following critical infrastructure variables have been analyzed. The first variable examined is availability of potable water supply. The result as shown in figure 4.1 have a mean of 4.71 and a standard deviation of 0.57 from 150 valid respondents. The source of variability may be traced to Accra location, which unlike their counterparts Akosombo and Aboadze locations relies on unreliable urban water supply. As evident in the result both Akosombo and Aboadze which constitute 90% of the population have their own reliable water supply system. This suggest that the Authority is infrastructure ready in terms of water supply system to attract FDI. Figure 4.1 Availability of potable water supply 38 University of Ghana http://ugspace.ug.edu.gh Another major infrastructure in health delivery is availability of good road network and helipad. Again, the result suggest a confirmation of this claim especially in Akosombo Township, which is the headquarters and largest among the three hospitals. The outcome of the study as shown in figure 4.2 indicate a mean of 4.39 and a standard deviation of 0.83 out of 150 valid respondents. Figure 4.2 Availability of good road network and Helipad 39 University of Ghana http://ugspace.ug.edu.gh Internet accessibility and for that matter information technology (IT) is another form of infrastructure the study seek to examine in VRA Hospitals SBU. The result, as shown in figure 4.3 suggests that IT is highly leveraged in the three locations. The outcome shows a mean of 4.42 and a standard deviation of 0.7 out of 147 valid respondents. 40 University of Ghana http://ugspace.ug.edu.gh Figure 4.3 Information technology leveraged Also critical to attract FDI is availability and sufficient supply of power with strategic plant as a backup. The index on uninterrupted power supply to the facilities shows a mean of 4.7 and a standard deviation of 0.6 shown in figure 4.4. Similarly table 4.5 shows a positive result on availability of strategic power plant serving as alternative source of power. A mean of 4.6 and 0.7 standard deviation suggest that energy remain an enviable infrastructure attraction to foreign investors. 41 University of Ghana http://ugspace.ug.edu.gh Figure 4.4 Availability of uninterrupted power supply Figure 4.5: Availability of strategic power plant 42 University of Ghana http://ugspace.ug.edu.gh Corporate and public communication network in all the work locations was also considered. The results from figure 4.6 show a mean of 4.3 and a standard deviation of 0.8. It shows that the majority of employees agree to the existence of corporate and public communication network. This suggest that the Authority and for that matter the facilities have communication network system. Figure 4.6: Availability of corporate and public communication network One other infrastructure variable measured was availability of employee housing unit. This was used because housing has been a major concern not only to the employee but to the employer. From Table 4.7 the housing index shows a mean of impact of 4.2 a standard deviation of 0.8. The standard deviation may be due to the difficulties housing application processes. However, it is positive and significant to mention that majority of the employees is allocated with housing unit. This can be interpreted to mean that the Authority is infrastructure ready in terms of employee housing units to attract FDI. 43 University of Ghana http://ugspace.ug.edu.gh Figure 4.7: Availability of employees housing units 4.5 Investigate readiness of staff in VRA Hospitals SBU to support proposed FDI In this section we test the dependent variable employee readiness to support FDI. A number of independent variables have been outlined to carry out this test. The aim is to establish whether staff are ready to support FDI proposal. The results are presented to reflect the independent variables and this is shown in Table 4.3. The columns are arranged in this order: Independent variables (column 1), total population (column 2), number of positive values (column 3), and population mean (column 4), standard deviation (column5), test statistic (column 6) and p-value (column 8). 44 University of Ghana http://ugspace.ug.edu.gh Table 4.3: Result of estimation of Employees’ commitment to support FDI process using Z-test Independent variables N μ σ Z P-Value P-Value** I will support any investment that will enhance my skills and delivery 150 86.5 75 6.1237 1.877942 0.96926 0.06148 I will work hard to make the public-private participation successful 150 61.5 75 6.1237 -2.20454 0.01255 0.0251 The change process motivates me to work hard 150 67.5 75 6.1237 -1.22474 0.11123 0.22246 I am dedicated and willing to do additional work 150 62.5 75 6.1237 -2.04124 0.02068 0.04136 ** P-value has been adjusted to reflect a two tail test. Significance level is 5% 4.6 Discussion To assess whether the sensitization on „BRAISE‟ strategy is well understood by all staff, the study seeks to test proportionate in-depth knowledge among staff across the three locations. Hypotheses for these are: Ho: There is no difference in in-depth knowledge on „BRAISE‟ strategy among staff Ha: There is difference in in-depth knowledge on „BRAISE‟ strategy among staff The study first provided the analysis of whether employees are inspired by the „BRAISE‟ sensitization programme. The null hypothesis is „There is no difference among the staff who are inspired by the sensitization programme'. The alternative hypothesis is „There is a difference‟. The result, however, shows that the test statistic (x²) is 2.88 and that of the critical value is 5.99. Since the test statistic is less than the critical value, we fail to reject the null hypothesis. This suggest that staff who are inspired by the sensitization programme have similar in-depth 45 University of Ghana http://ugspace.ug.edu.gh knowledge on the BRAISE strategy. Further, the study examine if there is difference in rating of the BRAISE strategy by staff. The null hypothesis is „There is no difference in the rating‟ while the alternative hypothesis is, „There is a difference in the rating). The outcome shows that the test statistic (x²) of 2.37 is less than the critical value of 5.9 and base on this, we fail to reject the null hypothesis. This therefore means there is enough evidence to suggest that there is no varied views among staff on rating BRAISE strategy. Again on assessing whether you think your work will contribute to the success of BRAISE, the null hypothesis is there is no difference in employees‟ responses. The alternative hypothesis is there is difference in employees‟ responses across the three workstations. From the result the test statistic (x²) is 2.96 and that of the critical value is 5.99. Since the test statistic is less than the critical value, we fail to reject the null hypothesis. This suggest that majority of staff hold the view that their work will not contribute to the success of the restructuring process. This is not consistent with findings of Fixen & Blaise (2008), who maintained supportive organization is one of the critical factors to measure readiness for change assessment. The result suggest lack of supportive organization on the part of employees even though the Authority guaranteed job security and staff welfare and remuneration. On infrastructure readiness, the study seeks to assess availability of strategic assets such as good road network and helipad at Akosombo Township (where the largest facility is located), internet connectivity and information technology, power supply, corporate and public communication network and employee housing units. The results, even though with slight differences on the variables, suggest one conclusion. The Authority is ready in terms of infrastructure. Consistent 46 University of Ghana http://ugspace.ug.edu.gh with argument by Fixen & Blaise (2008) all forms of alliance between firms requires massive support, not only from the existing employees but also from infrastructure resources. The assessment of staff support for FDI processes is based on the these hypotheses: Ho: There is no difference in staff‟s commitment to support FDI process Ha: There is difference in staff‟s commitment to support FDI process Based on these, sub hypotheses were drawn for the variables in Table 4.3. The first null hypothesis seek to establish whether there is difference in staff response with regard to „I will support any investment that will enhance my skills and delivery‟. Null hypothesis is there is no difference and alternative hypothesis is there is difference. The decision rule is reject null hypothesis if p-value is less or greater than alpha (0.05). From the test statistic, p-value (0.06) is greater than alpha and therefore we fail to reject the null hypothesis. To conclude on this, there is enough evidence to suggest that most staff will support any investment that will enhance their skills. Further to our discussion, we seek to establish whether there is a difference in staff‟s opinion on working hard to make the public private participation (PPP) successful. Null hypothesis is there is no difference in opinion and alternative hypothesis is there is difference in opinion. The decision rule is reject null hypothesis if p-value is less or greater than alpha (0.05). We reject null hypothesis based on the result shown in Table 4.3. Thus, p-value (0.02) is less than alpha. In conclusion, there is sufficient evidence to suggest that staff will not work hard to PPP. This conclusion is a bit surprising because evidence suggest staff‟s support for any investment that will enhance their skills. We also pursued to establish whether there is a difference in whether the change process motivates me to work hard. Null hypothesis is there is no difference while alternative hypothesis is there is difference. The decision rule is reject null 47 University of Ghana http://ugspace.ug.edu.gh hypothesis if p-value is less or greater than alpha (0.05). Since p-value (0.22) is greater than alpha, we fail to reject null hypothesis. This means enough evidence is available to suggest that the change process motivate staff to work hard. This finding corroborates the first hypothesis suggesting staff‟s willingness to support any investment that will enhance their skills. Finally, we assessed if there is a difference in staff dedication and willing to do additional work. Null hypothesis is there is no difference while alternative hypothesis is there is difference. The decision rule is reject null hypothesis if p-value is less or greater than alpha (0.05). Since p-value (0.04) is less than alpha, we reject null hypothesis. This means enough evidence is available to suggest that the change process does not motivate staff to work hard. This finding varies from staff‟s willingness to support any investment that will enhance their skills. Now, both working hard to make the public-private participation successful and dedication and willingness to do additional work are essential components to assess staff commitment to support company‟s reorganization and in this case FDI. The results as discussed revealed lack of commitment on the part of staff to support FDI and this support supports the arguments put forward by Humphreys et al (2003) and Ward et al (2008). The implication therefore is any attempt to impose the change process on the staff may not yield the intended purpose of improving on operational efficiencies. The change management team ought to review staff engagement on the FDI process to get their full support. 48 University of Ghana http://ugspace.ug.edu.gh CHAPTER FIVE SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 5.1 Introduction Restructuring of corporate organization remain a trending phenomenon. Readiness of the VRA Hospitals Strategic Business Unit (SBU) to work as an independent business adventure and representative's dedication linkages stay one of the under-investigated zones in drawing in Foreign Direct Investment (FDI). Not many experimental examinations exist on the linkages rebuilding and pulling in FDI to go into open private association. The majority of these investigations as pointed out in the writing survey concentrated on customary variables of pulling in FDI and worker availability to change with few work on linkages between the two. This part begins with the outline of key discoveries of the investigation, which depended on the destinations of this examination. The section likewise plots the ends, just as suggestions of the examination. The last piece of this part recommends the potential zones for future research. The data for this study was gathered from fieldwork survey. Structured questionnaire was self-admin one hundred and fifty permanent staff via corporate outlook. The study employs non-parametric sign test as well as descriptive statistic to analyze data. The research questions addressed in this study include: 1. Examine the in-depth knowledge of staff on the road map to the New VRA in VRA Hospitals SBU. 2. Examine the strategic position of VRA Hospitals SBU that will attract FDI as proposed. 3. Investigate readiness of staff in VRA Hospitals SBU to support proposed FDI. 49 University of Ghana http://ugspace.ug.edu.gh 5.2 Summary of key Findings This section presents summary of key findings on the descriptive statistics, the determinants of financial inclusion and finally the effects of financial inclusion on poverty reduction. Based on the findings on descriptive statistics presented in Tables 4.1, we find that 42% of the population were males and 58% females. This means female staff dominate the Authority‟s health services department now VRA Hospitals SBU. The explanation is that most of the junior staff, mainly staff nurse para-medics, are females. We find that all respondents (n=150) had tertiary education as their highest form of education. The study also show that 46% are junior staff, senior staff 40%, management staff 6% and others (mainly Seconded staff) 8%. This shows that majority of staff are split between junior staff and senior staff. On number of years served, 43% serves the Authority for more than 10 years, 29% of employees served for within 5-9 years, those who served within 1-4 years constitute 16% and the rest, 11% served for less than a year. This implies more than half the population had at least 5 years exposure to the corporate culture. The first objective of this study was to examine the in-depth knowledge of staff on the road map („BRAISE' strategy) to the New VRA in VRA Hospitals SBU. Hypotheses for these are: Ho: There is no difference in in-depth knowledge on „BRAISE‟ strategy among staff Ha: There is difference in in-depth knowledge on „BRAISE‟ strategy among staff Sub hypothesis statements to measure the above hypotheses include; i. Whether there is difference among staff who are inspired by the „BRAISE‟ strategy (H1), ii. Whether there is difference among staff‟s rating of the „BRAISE‟ strategy (H2); 50 University of Ghana http://ugspace.ug.edu.gh iii. Whether there is difference among staff who think their work will contribute to the success of the restructuring (H3). The results from Table 4.2 show that, for H1 the test statistic (x²) is 2.88 and that of the critical value is 5.99. Since the test statistic is less than the critical value, we fail to reject the null hypothesis. This means there is enough evidence to suggest that staff who are inspired by the sensitization programme have similar in-depth knowledge on the BRAISE strategy. Similarly, with H2, the outcome shows that the test statistic (x²) of 2.37 is less than the critical value of 5.9 and base on this, we fail to reject the null hypothesis. It therefore means there is enough evidence to suggest that there is no varied views among staff on rating the „BRAISE‟ strategy. Further, H3 (which is a negative response) shows test statistic (x²) of 2.96 and that of the critical value is 5.99. Since the test statistic is less than the critical value, we fail to reject the null hypothesis. This suggest that majority of staff hold the view that their work will not contribute to the success of the restructuring process. Now, Fixen & Blaise (2008) maintained that supportive organization is one of the critical factors to measure readiness for change assessment. Interestingly, unlike for H1 and H2 outcome, our findings in H3 suggest lack of supportive employees in restructuring process. In conclusion there is there is enough evidence to suggest proportionate in-depth knowledge of „BRAISE‟ strategy among staff across the three locations. The second objective was to examine the strategic position of VRA Hospitals SBU (infrastructure readiness) to attract FDI. Findings from 4.1 through to 4.7 show that Availability of potable water supply has mean of 4.7 and standard deviation of 0.6,Availability of good road network and helipad in Akosombo has mean of 4.39 and standard deviation of 0.83 and Highly leveraged information technology has mean of 4.4 and standard deviation of 0.7. For 51 University of Ghana http://ugspace.ug.edu.gh uninterrupted power supply in the facilities, the mean is 4.7 and a standard deviation of 0.6, Availability of strategic power plant has mean of 4.6 and standard deviation of 0.7, Corporate and public communication network has mean of 4.3 and standard deviation of 0.8, Availability of housing unit has mean of 4.2 standard deviation of 0.8. In effect infrastructure readiness has average mean of 4.5 (out of highest score of 5) and standard deviation of 0.7. This therefore show emphatic infrastructure readiness to attract FDI. The last objective of the study was to investigate readiness of staff in VRA Hospitals SBU to support proposed FDI. Hypotheses for this objective are: Ho: There is no difference in staff‟s commitment to support FDI process Ha: There is difference in staff‟s commitment to support FDI process Sub hypothesis statements to measure the above hypotheses include; i. Whether there is difference in staff‟s support for any investment that will enhance their skills (S1), ii. Whether there is difference in staff‟s commitment to hard work to make the public-private participation (PPP) successful (S2), iii. Whether there is difference in the change process motivation (S3); iv. Whether there is difference in dedication and willing to do additional work (S4). The findings, as shown in Table 4.2, for S1 had p-value=0.06 and α=0.05. Since p-value > α, we fail to reject the null hypothesis. This means there is enough evidence suggesting staff‟s support 52 University of Ghana http://ugspace.ug.edu.gh for any investment that will enhance their skills. Furthermore, result for S2 had p-value=0.02 and α=0.05. Following the fact that p-value < α we reject null hypothesis. This implies there is sufficient evidence to suggest that staff will not work hard to support PPP. This conclusion is a bit surprising as it seems to be in variance with S1 findings. The findings also show for S3, p- value=0.22 and α=0.05 and since p-value > α we fail to reject the null hypothesis. This means there is sufficient evidence to suggest that the change process motivates staff to work hard. The final sub hypothesis statement (S4) had p-value=0.04 and α=0.05. Since p-value < α we reject null hypothesis. This implies there is sufficient evidence to suggest that staff are not dedicated and not willing to do additional task. The findings suggest lack of commitment on the part of staff to support FDI and this corroborate the arguments put forward by Humphreys et al (2003) and Ward et al (2008). 5.3 Recommendations Based on the empirical findings above, the study makes the following recommendations for both policymaking and for future research. First, in terms of policymaking, public institutions, especially those with autonomous status might adopt the findings of this study in deciding to attract FDI as a process of restructuring. They can do this by ensuring a good balance between infrastructure readiness and supportive staff to attract foreign direct investment. Second, governments can encourage public private participation by attracting FDI in a cost effective manner. This can be done through sensitization programmes for public servants. They can also assure employees that public private participation (PPP) arrangements will improve 53 University of Ghana http://ugspace.ug.edu.gh their skills as well as enhance operational and projects implementation efficiency and by extension deliver organization that is more resilient. Third, the Change Management Team established by the Authority (VRA) can use these findings as a technical support to deliver on their mandate. This can be done by enhancing staff engagement in a manner that will win their support for the intended PPP through FDI. 5.5 Future Research An important area for future research is further analysis on strategic position of public institutions to attract FDI. Therefore, future researchers can analyze other factors of FDI other than availability of infrastructure to attract multinational companies (MNCs). Finally, future study should test the consistency of these findings by extending the research to all other investment portfolio of the Authority (VRA) billed for restructuring, namely VRA Hotel, Schools, Real Estate and Thermal Unit. 54 University of Ghana http://ugspace.ug.edu.gh Reference Agarwal, S., & Mohtadi, H. (2004). Financial markets and the financing choice of firms: Evidence from developing countries. Global Finance Journal, 15(1), 57-70. Armenakis, A.A., Harris, S.G. and Mossholder, K. (1993). Creating readiness for organizational change: Human Relations, Vol.46, pp 681-703. Asiedu, E. (2002). On the determinants of foreign direct investment to developing countries: is Africa different? World development, 30(1), 107-119. Bénassy‐Quéré, A., Coupet, M., & Mayer, T. (2007). Institutional determinants of foreign direct investment. World economy, 30(5), 764-782. Bowman, E. H., & Singh, H. (1993). Corporate restructuring: Reconfiguring the firm. Strategic Management Journal, 14(S1), 5-14. Bühner, R., Rasheed, A., & Rosenstein, J. (1997). Corporate restructuring patterns in the US and Germany: a comparative empirical investigation. MIR: Management International Review, 319-338. Burnes, B. (2004). Kurt Lewin and the planned approach to change: A re‐appraisal. Journal of Management studies, 41(6), 977-1002. Cohen, D., & Soto, M. (2007). Growth and human capital: good data, good results. Journal of economic growth, 12(1), 51-76. Devi, S., Kamalanabhan, T.J, & Bhattacharyya, S. (2011). Employee Readiness to Change and Individual Intelligence: The Facilitating Role of Process and Contextual factors. ResearchGate, 4(2), 85-91. 55 University of Ghana http://ugspace.ug.edu.gh Dowrick, S., & Golley, J. (2004). Trade openness and growth: Who benefits?. Oxford review of economic policy, 20(1), 38-56. Dunning, J., & Narula, R. (2003). Foreign direct investment and governments: catalysts for economic restructuring. Routledge. st eFinanceManagement. (2017). Corporate Restructuring. eFinanceManagement Retrieved 21 September, 2018, from http://efinancemanagement.com/?isamp=1 Holt, D.T., Armenakis, A.A., Field, H.S. and Harris, S.G. (2007). Readiness for organizational change: Systematic development of a scale. The Journal of Applied Behavioral Science, 43(2), 232-255. Hong, K. K., & Kim, Y. G. (2002). The critical success factors for ERP implementation: an organizational fit perspective. Information & management, 40(1), 25-40. Iwai, N., & Thompson, S. R. (2012). Foreign Direct Investment and Labor Quality in Developing Countries. Review of Development Economics, 16(2), 276-290. Jonk, G. J. (2007). SBU 2.0: A new tool for selecting business opportunities for the multi-unit organization. Strategy & Leadership, 35(5), 17-23. Kirkpatrick, C., Parker, D., & Zhang, Y. F. (2006). Foreign direct investment in infrastructure in developing countries: does regulation make a difference?. Transnational Corporations, 15(1), 143. Kumar, N. (2006). Infrastructure availability, foreign direct investment inflows and their export- orientation: A cross-country exploration. The Indian Economic Journal, 54(1), 125-144. 56 University of Ghana http://ugspace.ug.edu.gh Lokesha, B. K., & Leelavathy, D. S. (2012). FDI Issues: A Comparative Analysis of India and China. Economic Affairs, 57(3), 221-232. Nonnenberg, M. J. B., & Mendonca, M. J. C. (2004). The determinants of direct foreign investment in developing countries. Nunnenkamp, P., & Spatz, J. (2002). Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the Game?. Transnational Corporations, 11(2), 1-34. Oman, C. P. (2000, March 9). OECD Development Centre. Retrieved from OECDiLibrary: https://www.oecd-ilibrary.org/content/publication/9789264181083-en Sahiti, A., Ahmeti, S., & Ismajli, H. (2018). A Review of Empirical Studies on FDI Determinants. Baltic Journal of Real Estate Economics and Construction Management, 6(1), 1-11. rd Schein, E.H. (1980). Organizational psychology. 3 edn. NJ: Prentice Hall. Seetanah, B., & Rojid, S. (2011). The determinants of FDI in Mauritius: a dynamic time series investigation. African Journal of Economic and Management Studies, 2(1), 24-41. Sun, X. (2002). How to promote FDI? The regulatory and institutional environment for attracting FDI. Foreign Investment Advisory Service. Vijayakumar, N., Sridharan, P., & Rao, K. C. S. (2010). Determinants of FDI in BRICS Countries: A panel analysis. International Journal of Business Science & Applied Management, 5(3), 1–13. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=52651405&site=eds-live 57 University of Ghana http://ugspace.ug.edu.gh VRA. (2018, October 3). VRA Business Bulletin. Retrieved from VRA Portal: http://intranet.vra.com/Shared%20Documents/VRA%20News%20(Newsletter)/2018%20E ditions/vbb_q1.pdf Zhou, D., Li, S., & David, K. T. (2002). The impact of FDI on the productivity of domestic firms: the case of China. International Business Review, 11(4), 465-484. 58 University of Ghana http://ugspace.ug.edu.gh Appendix I: Questionnaire Dear participant, My name is Doh Benjamin Kafui. I am a student at the University of Ghana, Legon. As part of MSc. Development Finance programme, I am gathering data on Readiness of VRA Hospitals SBU to operate as a stand-alone commercial venture to execute my Thesis. The following questionnaire is not traceable to individual participants and your employer will not have access to your answers. Even so, it is important that you do not write your name or personal information on this copy. Section A: Demographic background Answer by tagging the appropriate boxes 1. Sex ⎕ Male ⎕ Female 2. Age ⎕ 18-30 ⎕ 31-40 ⎕ 41-50 ⎕51-60 3. Highest academic and professional qualifications obtained ⎕SSCE/WASSCE ⎕Diploma/Other Certificate ⎕ st nd1 Degree ⎕2 Degree⎕ 4. Position held at VRA Hospitals SBU ⎕ Junior staff ⎕ Senior staff ⎕ Management staff ⎕Other, please specify……… 5. Number of years with VRA Hospitals SBU ⎕ Less than 1 ⎕ 1-4 ⎕ 5-9 ⎕10 and above Section B: Knowledge level on a corporate restructuring strategy 1. I attended the recently held “BRAISE” Sensitization Program in my location. Yes [ ] No [ ] Not sure [ ] 2. If No, why couldn‟t you participate? (Select as appropriate) Late communication [ ] Work Schedules [ ] On leave or training [ ] Lack of Interest [ ] Understand it already [ ] Other reason, please state …………………………………………………………………… 3. Which aspect of the “BRAISE” would you want further explanation? ………………………………………………………………………………………………………………………… …………………………………………………………………………………… 4. Are you inspired by the “BRAISE” Strategy? Yes [ ] No [ ] Not sure [ ] 5. If Yes, why? ……………………………………………………………………………………………………… 6. How will you rate the “BRAISE” Strategy for the “New VRA”? (Please select) Very Good [ ] Good [ ] Average [ ] Bad [ ] Very Bad [ ] 7. Do you think your work will contribute to the success of the “BRAISE”? Yes [ ] No [ ] Not sure [ ] 8. If Yes, how? (Give Examples) ……………………………………………………………………………………………………… 9. How will you rate the “BRAISE” Team in terms of delivery? (Select as appropriate) Very good [ ] Good [ ] Average [ ] Poor [ ] Very poor [ ] 59 University of Ghana http://ugspace.ug.edu.gh Section C: Foreign Direct Investment determinant: Infrastructure base 7. To what extent do you agree with the following statements as being strategic infrastructure to attract foreign direct investment? (Please circle) (Where 1 = Strongly Disagree; 2 = Disagree; 3 = Undecided; 4 = Agree; 5 = Strongly Agree). 7.1 Availability of potable water supply 1 2 3 4 5 7.2 Availability of good road network and Helipad at Akosombo township 1 2 3 4 5 7.3 Information technology highly leveraged 1 2 3 4 5 7.4 Availability of uninterrupted power supply 1 2 3 4 5 7.5 Availability of strategic power plant at Akosombo 1 2 3 4 5 7.6 Availability of corporate and public communication network 1 2 3 4 5 7.7 Availability of employees housing units 1 2 3 4 5 7.8 New ultramodern Eye Referral Facility 1 2 3 4 5 7.9 Availability of good drainage system 1 2 3 4 5 FDI Infrastructure attractiveness Section D: Employees readiness to support Foreign Direct Investment 8 To what extent do you agree with the following statements? (Please circle) (Where 1 = Strongly Disagree; 2 = Disagree; 3 = Undecided; 4 = Agree; 5 = Strongly Agree). 8.1 I will support any investment that will enhance my skills and delivery 1 2 3 4 5 8.2 I feel optimistic that foreign direct investment is preferred to debt financing 1 2 3 4 5 8.3 I will work hard to make the public-private participation successful 1 2 3 4 5 8.4 I trust management to attract foreign direct investment 1 2 3 4 5 8.5 I take part in decision making 1 2 3 4 5 8.6 There is quality communication between management and staff 1 2 3 4 5 8.7 The Authority handled major organizational change in the past well 1 2 3 4 5 8.8 The change process motivates me to work hard 1 2 3 4 5 8.9 I am dedicated and willing to do additional work 1 2 3 4 5 Support for a private investor, commitment and change readiness THANK YOU FOR YOUR COOPERATION 60 University of Ghana http://ugspace.ug.edu.gh Appendix II: Summary of raw data Variable Measure Response Frequency Total Total % Akosom Accra Aboadz bo e Sex Male 37 6 20 63 42 Female 67 9 11 87 58 Age 18-30 5 3 2 9 6 31-40 38 9 15 63 42 41-50 32 3 9 44 30 51-60 29 0 5 34 22 Highest academic and SSCE/WASSCE 0 0 0 0 0 professional Diploma/Other 57 6 11 73 49 qualifications obtained Certificate st 1 Degree 31 3 11 44 30 nd 2 Degree and 17 6 9 32 21 higher Position held at VRA Junior staff 47 9 12 69 46 Hospitals SBU Senior staff 43 3 14 60 40 Management staff 6 2 2 9 6 Others 8 2 3 12 8 Number of years with <1 year 14 0 3 17 11 VRA Hospitals SBU 1-4 years 8 3 14 24 16 5-9 years 32 9 2 43 29 ≥10 years 50 3 12 64 43 61 Demographic University of Ghana http://ugspace.ug.edu.gh I attended the recently No 11 5 0 15 10 held BRAISE Yes 93 11 31 135 90 Sensitization Program in my location. Are you inspired by No 34 5 3 41 28 the 'BRAISE' strategy? Not sure 11 0 6 17 11 Yes 49 6 21 76 51 0 0 2 3 2 How will you rate Bad 'BRAISE' strategy for the 'New VRA'? Average 23 6 9 38 26 Good 50 5 20 75 50 Very good 20 0 0 20 13 Do you think your No 29 3 8 40 27 work will contribute to Not sure 20 0 9 29 19 the success of 'BRAISE'? Yes 44 8 14 66 44 How will you rate the Bad 0 0 2 2 1 'BRAISE' Team in Average 17 6 9 32 21 terms of delivery? Good 58 5 20 83 55 Very good 18 0 0 18 12 Positive rank 96 14 23 133 89 I will support any investment that will Neutral 8 2 8 17 11 enhance my skills and Negative rank 0 0 0 0 0 delivery Positive rank 92 9 18 119 80 I feel optimistic that foreign direct Neutral 9 2 11 21 14 investment is Negative rank 3 5 2 9 6 preferred to debt 62 Employees readiness to support Knowledge level on a corporate restructuring strategy ‘BRAISE’ Foreign Direct Investment University of Ghana http://ugspace.ug.edu.gh financing Positive rank 81 6 18 106 70 I will work hard to make the public- Neutral 0 6 2 8 5 private participation Negative rank 23 3 11 37 24 successful Positive rank 80 8 24 112 74 I trust management to attract foreign direct Neutral 9 2 2 12 8 investment Negative rank 15 6 5 26 17 Positive rank 6 2 2 9 6 I take part in decision making Neutral 31 6 15 52 35 Negative rank 67 8 14 89 59 Positive rank 77 9 18 104 69 There is quality communication Neutral 3 2 5 9 6 between management Negative rank 24 5 8 37 24 and staff Positive rank 9 2 2 12 8 The Authority handled major organizational Neutral 61 12 20 93 62 change in the past Negative rank 34 2 9 44 30 well 89 9 9 107 71 The change process Positive rank motivates me to work Neutral 8 3 5 15 10 hard Negative rank 8 3 17 29 19 I am dedicated and Positive rank 81 9 8 98 65 willing to do Neutral 3 2 9 14 9 additional work Negative rank 20 5 14 38 26 63