Contract Law Doctrine of Consideration

Question: Discuss about the Contract Law for Doctrine of Consideration. Answer: Introduction: A lawfully binding exchange of promises from one person to another has been defined as a contract which would be enforced by the law. Also, contract law has been observed to be founded on the phrase pacta sunt servanda. It specifically means that promises must be kept. But in order to create a valid contract there have to be four main essentials that must be present which includes an offer, acceptance, consideration, intention to create lawful relations and capacity.[1] If any one of the above mentioned essentials would not be present then a valid contract could not be formed. So, it has been clearly stated that consideration has been one of the most significant constituent of a lawful agreement. In creating a valid contract the first step was to make an offer which must be made by one person to another. Acceptance would be regarded as when the individual who receives the proposal accepts the terms of the offer which was made. Consideration has been regarded as same as the intention to create lawful relations.[2] Agreements which do not include a price which has to be paid for the promises were unenforceable if not they have been carried out by a legal document under seal. The elements of Intention to make lawful relationships have been descriptive constituents of a contract. The final element of a valid agreement was the capacity of the parties. It was whether an individual has the freedom to enter into an agreement or not. The below mentioned essay would spotlight on the constituents of a price in an agreement and more particularly it would dispute that price must be sufficient but need not to be adequate. Not every promise which was made would be enforceable in law by the tribunals, as doing so would be specifically being impractical. As it has been observed clearly that a promise which would be backed up by consideration would grant a reason for enforcement. It has been clearly observed that the Doctrine of Consideration has been one of the five major indispensable ingredients of a valid agreement. In an agreement, if consideration would not be instituted as a part of an agreement then it would determine whether it was enforceable or not unless it was integrated into a deed under a seal. Consideration has been defined as the price that was asked by the person who made an offer in exchange for their promise. As per the requirement of common law, in order to make a contract to be binding the person to whom the promise was made must grant a price for the promise. Consideration has been regarded as prone to much condemnation as it was stated to have a very slight extent as a meaning with a number of suggestions stating that the slightness of the doctrine displays was is now more about refuting the lawful effect in most of the promises.[3] The thoughts behind this disparagement were that a number of tribunals bring consideration into the matters without thinking twice and utilize it as a tool to direct their verdicts. This then show the way to it which was open to many more possibilities. As in the case of Williams v Roffey Bros Nicholls (Contractors) Ltd [1989] EWCA Civ 5[4], it was stated that a practical assistance attained by an individual could be calculated as a sufficient consideration. This would then lead to unauthorized assertions as never before which states that such consideration has been brought into a case containing a pre-existing contract. In the case of Currie v Misa (1875) LR 10 Ex 153[5], it has been concluded that consideration could be defined as some privilege, interest, profit accrued to an individual who was the party or some loss or harm undertaken by another. So, in order to rotate an otherwise unenforceable promise which was made by an individual into a lawfully binding contract a person to whom such promise was made must in return grant to the person who initiated a promise a price.[6] The meaning of what comprise of a price which was paid for such promise was distinctively found in the matter of Dunlop v Selfridge [1915] AC 847[7]. In this case it was concluded that price i.e. something of value could be defined as an act of tolerance of the guarantee. So, it was defined as the value for which such guarantee of the other was bought, and the promise thus would grant for worth would be enforceable. There was numerous numbers of rules which were made in regard to the procedure of consideration that could also be found in the matter of: Tweddle v Atkinson (1861) 121 ER 762[8] as in this case it was stated that the price paid for a promise must be send from a person who accepted the offer; or In Re McArdle [1951] Ch 669[9], where it was held that the price paid must not be paid in past; In Thomas v Thomas (1842) 2 QB 851[10] it was concluded that such consideration must be sufficient, but require not be adequate but must have something of value. This value which was paid for the promise should be more than merely financial. In the matter of Ward v Byham [1956] 1 WLR 496[11] promises which were made to take care for an individual have been concluded to be sufficient. But at first instance, it seems that the rule of consideration is anything wrong with terms. For most non-specialists "sufficient" means the same as "adequate." However, the rule makes sense, because it means that although consideration should be sufficient to maintain the contract (i.e. it must have some value in terms of law), it may not necessarily be appropriate in the sense to be of the same value as and consideration other.[12] In order to consider that the price paid for the promise was valid it could be done so by stating that such price need not to be adequate but must be sufficient. This statement could be meant that the price does not have to reveal the value of the promise to be adequate. But at the same time such promise must be lawfully sufficient that means to say that it must be somewhat that the law gazes at as been competent of concluding to a valid price.[13] This has been a controversial problem as many feel that it has been an inequitable method of shaping a verdict but such decision which was brought to limelight in the matter of Chappell v. Nestle [1960] AC 87[14]. In this case it was clearly concluded by the majority of the judges that the wrappers of the chocolate were considered as a element of price even though they were of small monetary price which was frightened away by the respondents on delivery.[15] In another case of Thomas v Thomas (1842), 2 QB 851[16] it was held that the motive of the husband was the only reason for the contract and a reason could not amount to price. Though, the promise which was made by the applicant to pay 1 and keep the house in good way was considered to be a sufficient consideration. Although it has been observed that the terms Adequacy and sufficiency in the common language have similar meaning as they were considered to be synonyms to each other. Though under law adequacy have been described to be such situations where the money which an individual has paid for something was inconsistent with the cost of what an individual obtains in return. It was the only privilege that the tribunals do not take into account whether an agreement which was initiated contains adequate consideration, as it would be unfeasible and away from the means of the tribunal to ascertain. Consequently, a person must fix a price for all of the goods and services that were enclosed in the agreements which were put forward before the tribunal. In a Canadian case of Zecevic v The Russian Orthodox Christ the Saviour Cathedral [1988]O.J. No. 1282[17], it was held that there was no intention to create legal relations from both the individuals who were the parties to the contract. Also, there had been no payment of money which was promised which clearly implies that there had been an inadequate consideration in the contract. So, it could be stated that for a consideration to be measured as satisfactory enough to sustain a easy agreement under law it must be have certain monetary worth. In addition to the fact that it must contain a monetary value, such price must also be of such a type which was recognized by law as lawful. On the other hand, there have been a number of examples that were measured to be insufficient consideration in the eyes of the lawful authorities such as natural love and affection, moral obligation and prayers were but to name a few. For instance, where an individual makes a guarantee to do something, which, they were previously bound by law to do it then this does not amount to satisfactory price in the construction of an agreement. This would merely be recurring as a duty which the person to whom such offer was made was already compelled to do so in other they were promising to do nothing at all. It was then the law stated and founded price to be an deficient consideration if the applicant carries out an obligation which he already owed.[18] There have been two main forms of considerations which could be considered as insufficient such as: Past consideration: It has been regarded as something which was granted unreasonably or in connection to other as it would not be regarded as a ground which would be sufficient in relation to a new promise. In the case of Stewart v Casey [1892] 1 Ch. 104[19] it has been stated that an exception to the past consideration rule subsists in connection to promises which were made to pay for services. It has also been stated that where it would be implied that the performance of services would be paid for then the performance of those services would be a good consideration.[20] Existing of Lawful duties: This rule was most likely to take place where the contractual duties were varied or An innovative agreement was completed and an innovative agreement was substituted by replacing it. Also for the above declarations which were made in relation to the rules of consideration in persistence to the fact that there were certain exceptions to the instance which was granted in relation to past consideration. But in order to create simplicity and lucidity, there has exceptions to the rules of consideration which were defined above. With regards to the doctrine of price i.e. consideration its exception was that of the person who made an offer who had formerly asked the other individual to grant goods or services. In the case of Lampleigh v Braithwait [1615] EWHC KB J 17[21] it was stated that a promise which was made after providing them would be treated as a legit. Though if it was known to be a trade deal then it must exhibit and perform in an unmistakable manner. In another matter of Re Caseys Patent [1892] 1 Ch. 104[22] it was upheld that the payment of price must ensue for the good and services which were to be provided as it would then also be measured to be obligatory. It has been the principle of promissory estoppels which was regarded as an impartial remedy that permits an individual from not turning back on a promise which was not sustained by the price paid under a contract. Estoppels could act as a guard but not as a weapon in relation to the point of consideration. So, it was simply about fairness to the other side of which may the person who made a offer could get benefit and so that the person to whom such promise was made does not violate the contract. It was in the case of Hughes v Metropolitan Railway (1876-77) LR 2 App Cas 439[23] that the doctrine of consideration was established. But at the same time it was this doctrine of Consideration only which drew divergence of view as a doctrine such as the attack which was made by Lord Mansfield on consideration for not recognizing it as part of contract law. In another matter of Tool Metal Manufacturing v Tungsten [1955] 1 WLR 761[24], that the modern version was enhanced by the court by confirming that the doctrine of promissory estoppel exists in contract law. In Waltons v Maher [1988] HCA 7[25] it was concluded that where the development of the Doctrine of Promissory Estoppels, under which a promise that has been dependent upon to the detriment of the other person may be imposed by that other in spite of the fact that there was a lack of consideration. Also, as a general rule of the part payment of a balance which was due was not a good consideration for the promise of the creditors to relinquish the balance. In the payment of a part of the balance which was due which was owed the person to whom an offer was made was observed to be doing a work which was no more than performing an existing contractual obligation which he owed. Similarly, a promise which was made in relation to pay a part of a balance due could not represent price for a promise of the creditor in order to relinquish the balance. It was usually referred to as the rule in Pinnels case. In the case of Penny v Cole which was known as the Pinnel's Case [1602] 5 Co. Rep. 117a[26] it was stated that if a sum of money was owing to a creditor by a balance which was due or. And all those individuals enter into an ensuing contract that concluded that the creditor would accept a smaller sum in fulfillment of the entire amount. But the later sum of the contract would usually not be obligatory as the arrears which was due or has not granted price for the promise of the creditor in order to relinquish the balance which was due. Consequently, even if the balance which was due or acts on this contract by paying the smaller amount which was decided and the sum was established by the creditor which he would usually be able to take legal action against the balance which was due or for the arrears. At last, in order to conclude the essay it could be stated that it has been of fundamental importance that consideration has been considered as required in the construction of agreements to make sure those only stringent contracts would be measured to be agreements and individuals would only enter into them deliberately. Also, it has been unreasonable for the tribunals to place a value on goods and services so consideration need not be satisfactory and it should be up to the individuals in an agreement to choose what charge them aspiration to put on goods or services. At last, the tribunals must only permit contracts that enclose price that has a monetary value to be an agreement. As it has revealed in cases, like Zecevic v The Russian Orthodox Christ the Saviour Cathedral [1988]O.J. No. 1282[27], that those contracts where price includes no monetary worth then it was unfeasible to put a worth on the promise made and thus becomes almost impracticable to control under law. References Ewan McKendrick and Qiao Liu, Contract Law: Australian Edition, (Palgrave Macmillan, 2015). W. Ryan, Equity And The Doctrine Of Consideration, The Adelaide Law Review. Chappell v. Nestle [1960] AC 87. Cuurrie v Misa (1875) LR 10 Ex 153. Dunlop v Selfridge [1915] AC 847. Hughes v Metropolitan Railway (1876-77) LR 2 App Cas 439. Lampleigh v Braithwait [1615] EWHC KB J 17. Pinnel's Case [1602] 5 Co. Rep. 117a. Re Caseys Patent [1892] 1 Ch. 104. Re McArdle [1951] Ch 669. Stewart v Casey [1892] 1 Ch. 104. Thomas v Thomas (1842) 2 QB 851. Thomas v Thomas (1842), 2 QB 851. Tool Metal Manufacturing v Tungsten [1955] 1 WLR 761. Tweddle v Atkinson (1861) 121 ER 762. Waltons v Maher [1988] HCA 7. Ward v Byham [1956] 1 WLR 496. Williams v Roffey Bros Nicholls (Contractors) Ltd [1989] EWCA Civ 5.

Macroeconomic Issues Available in the Internet

Question: Describe about the macroeconomic issues with the help of some data available in the internet? Answer: Introduction The macroeconomic policies are the primary source of any economy to decide the path of its development, but it is the most complex issue of the World. The policies taken by the policy makers vary from country to country. It causes the economy to fluctuate as par the recession or boom faced by the economy. The country I have chosen here is United States. I will explain how the economy has grown from the year of 2004 to year of 2013 so that the unemployment, poverty, inflation rate, stability in prices, economic growth got affected over the stipulated time period. I will discuss here the ups and downs face by the economy of United States so that it affects the economys performance of the country (Cavoli Rajan, 2009). Macroeconomic performance Five type statistic like GDP constant price, GDP annual growth rate, real GDP per capital, unemployment rate and inflation rate to discuss the macroeconomic performance of the economy. The point to be noted is that the issue of migration is severe in that country. So the effect of this, along with the other variables also has to be taken into consideration while discussing the overall performance of the economy (Goh, 2004). The United Stated Economy The United Stated economy has triggered the fast forward economic growth from the 2000s. The economy has now become the first and foremost destination of the jobseekers and businessmen. This is sometimes beneficial for the economy as it increases the GDP produced within the geographical area of the economy. The real growth rate has been severely increased from 2004 to 2013 due to this. But the government is also very much infrastructural development oriented so that the urbanization of the country causes to add to the real GDP more than ever within this stipulated time period. But migration has affected it negatively so that it causes the economy to suffer from unemployment (Hoogendoorn, 2012). The United States has one of the most diversified and most technologically advanced economies in the world. Finance, insurance, real estate, rental, leasing, health care, social assistance, professional, business and educational services account for more than 40 percent of GDP. Retail and whol esale trade creates another 12 percent of the wealth. The government related services fuel 13 percent of GDP. Utilities, transportation and warehousing and information account for 10 percent of the GDP. Manufacturing, mining, and construction constitute 17 percent of the output. Agriculture accounts for only 1.5 percent of the GDP, yet due to use of advance technologies, the United States is a net exporter of food. Economy Strategy United States has mainly adopted an export oriented policy framework. It finances most of the foreign direct investment used in the economy. It causes to the economy to urbanize itself and it helps to make a significant status in the map of the worlds economy. United States has no natural resource. In spite of this, the development it achieved causes the economy to step forward to the industrialization to keep the pace of the growth unchanged. The strategies taken by the government of United States can be divided in three ways (Huff, 1994). The strategic role of the government An uninterrupted development of the infrastructure ('Issue Information', 2015) The mobilization of human capital The country taking these above three strategies together has confronted massive growth of development. In the previous period it used to earn the national income by using the semi-skilled labour force and the physical capital used to develop the infrastructure to make the country urbanized like the western countries. Now as time passes, the country emphasizes to develop a huge amount of infrastructural development so that the economies will try to make the workers highly skilled so that they can use them as another capital named human capital in their own industrialization process (Kang Leong, 2012). Production Output Performance Analysis United States is the first choice now for the investors. They try to exploit the economys resources to develop their own business. This inflow of finance from the global investors also benefitted United States. Here the political dimension of the globalized economy has emerged. It needs the stabilization of the political environment of the economy which is highly noticed in United States. And no doubt, this is an added advantage for the economy to flourish further. The reason is quite obvious. It results in ample time to implement a policy and can give good observational period. If the political stability is not maintained over a country, the government will be changed frequently and it will cause to change the policies it would have taken as economic policies unfortunately varies over political ideologies. Now frequent change in policies cannot implement them properly within short time period. So, effects of the different kind of economic policies result in totally ambiguous policie s. What we can observe in case of United States is its stable political situation has positively affected the economy towards development thus adding dollars to the gross domestic product of the economy (Lovelock, 2001). As we have said above the economy is mostly export oriented. The major part of the Gross Domestic Product comes from the trading business it does with its partners internationally. The economy mostly exported electronics and chemical goods to the foreign countries. American economy has ample natural resources. It is mostly a natural resource abundant country. So no doubt it has a lot of opportunity to develop it makes difficult to the economy to suffer without water as it is also scarce in that country. So they buy it too. The chart above shows the trend in GDP at constant prices of the US for the years 2004-2013. GDP at constant prices is calculated by the total expenditure of the goods and services within an economy for a specified period of time. The GDP of the US is recorded by the World Bank. In the year 2013, the GDP at constant prices was 15500.2 USD Billion and that in the year 2004 the GDP at constant prices was 13706.2 USD Billion of the US. The GDP at constant prices has increased over the years except for the year 2009 where it declined due to the global economic crisis. What we can observe in the above diagram is that the economy has a consistent fall in the Gross Domestic Product Annual Growth Rate over the years. In the year of 2008, 2009 it was even negative. The reason is probably the severity of the recession experienced by the economy. We can better understand by a diagrammatic representation of the diagram. There is a huge fall in the GDP growth rate of the economy of US in the year of the 2009. If we minutely observe that even in the year of 2004 it had more growth rate than it achieved in the year of 2013. There was a consistent fall from the year 2004 to 2007. But after 2007 a sharp fall has been noticed. But here point to be noted that it is severely increased from 2009 to 2010. But after that it has been slightly decreased in 2011. The reason may be the aftershock of the recession. The GDP per capita is obtained by dividing the GDP with the population of the country which is adjusted by the inflation. The GDP per capita was recorded to be 45863.02 US dollars in the year 2013 in the US and it was recorded to be the highest. The graph below shows that the GDP per capita in the US has been increasing over the years except for the year 2010 which is mainly due to the global economic crisis. The chart below shows the trend in GDP per capita in the US for the years 2004-2013. Labour Market Analysis Now we discuss the unemployment rate of the United Stated economy from 2004 to 2013. Here point to be noted that United States itself is not a population abandoned country but as the economy grows, the migration from the other countries created a severe problem regarding employment in this country. The people migrated from other countries are obviously either job seekers or students. Now as United States majorly adopts a capital intensive production technique so that the people migrated here for seeking job are obviously skilled ones who make an added advantage to the human capital of United States. Now as the investors as well as the owner of the firms are not at all bothered about the economic situation, they are solely interested to their profit. And it is quite natural as they are not nonprofit organization, so they will hardly take care of the social impact of their activities as well as the macroeconomic consequences of the event. So what we can observe in the above that the government of United States has taken proper policy so that the unemployment rate is getting decreased in the economy. It had been increased again in 2009 suddenly, but ultimately it has been controlled by the government. Here point to be noted that though US is the tenth largest economy as per the per capita GDP growth rate of the economy, still, its unemployment rate is quite high in spite of being one of the most developed economies of the world. In the recession period there has been huge unemployment which is noticed during 2009-2010 (Stater Wenger, 2015). Now in United States it has been observed that the people migrated their get huge facilities to study over there too. So, from the growing stage of the human capital the natives are getting exploited. The capital intensive techniques demand more of skilled labour which they mostly higher from the migrated people. In case of unskilled labour demand the native people gets hired. On the other way, as the higher study is also easier for the migrated students, the native students remain unskilled and the salary structure in the firms demoralizes them further to make higher studies. So, the people of the country itself remain more unskilled so that they will make a smaller contribution to their own countries economic growth. Price Level Analysis For the inflationary behaviour of the economy, first we explain the term inflation. Then follow by macroeconomic reasons behind the occurrence of it and macroeconomic consequences, how the economy of United States is getting affected, can be picturized ('Referees for July 2012-June 2013', 2013). Inflation observed in any economy is majorly of two types- demand pull inflation and cost push inflation (Risa, n.d.). Demands pull inflation: Increase in price of the product due to increase in demand of that Reasons: If money supply M remains constant or increases smaller than that of price P, M/P increases, which results inflation. If population increases, it creates it creates excess demand which causes inflation (Sng, 2010) Cost Push Inflation: Increase in price of the product due to increase in price of the factor inputs If factor price increase, production cost will increase, thereby causing increase in the price level An increase in wage-rate for either excess labour demand or the collective bargaining of the trade-union (Sng Chia, 2010) It mostly influences the economy as cost of consumption increases, the depreciation of capital goods of the economy began to increase, and this is the ultimate results of the inflation which affects the American economy as a whole. What we can observe along the years in the US economy as par the inflation occurred there is represented tabular form in the following. Here we majorly analyse the inflation with respect to the consumer price index. It majorly had been constructed considering the goods and services for the consumption of household. So the changes on those goods and services considered in that construction affect the purchasing power parity of the consumers of United States. Thus inflation makes people to feel poorer as the value of the income decreases thus affecting their welfare also (Sugimoto, 2011). Here in the above diagram we can see that there are huge ups and downs of the inflation rate in the last few years. From the 2004 to 2008 the volatility was on an average consistent. Here point to be noted among the last few years i.e. within the year of 2004 to 2008, the maximum inflation has been observed in the year of 2008. It was 3.8 percent. But after that a sharp fall has been noticed. In 2009, there was economic recession observed in the economy. So what we can observe in the diagram is that there is a sharp fall in the inflation rate in that year. Not only that, it was negative during the recession period. Now the thing is that in the recession period the income of the people falls. So the demand for the goods and services falls. So, price falls due to the excess supply occurring in the economy, as the gap between the demand and supply decreases. Conclusion Here we have described the macroeconomic issues with the help of some data available in the internet. But here point to be noted that, it is an aggregate level analysis. So, if we consider the disaggregate level, we may see any other results. For example, the analysis regarding the level of unemployment is totally dependent upon the overall population of the economy which includes migrated people as well as natives. So, if it is tried to analyse them separately we may see the result other way, i.e., then the actual picture can be understood about the discrimination among the native people and the migrated ones. But in case of productivity analysis, it has been undoubtedly developed so much so that from travel and tourism department to the manufacturing industry it has been the foremost destination for all the job providers to job seekers, and even for the tourists and travellers (Underhill, 2009).

Narrative Essay Writing Sample - 4 Elements That Create a Good Story

Narrative Essay Writing Sample - 4 Elements That Create a Good StoryAny time you submit a final copy of a narrative essay for consideration, whether it's for a first time or repeat submissions, you'll want to write an example of your prose. A story that is fully developed is an effective essay as long as you properly structure it. Here are four components that form the plot and structure of a good story.A set of events is the basic outline of the plot in any story. This can be something you've heard, or it can come from a personal experience that is related to the argument that you are making. The events in the outline support and elaborate upon the main points you wish to make. The other elements are support and characterization.In a first car accident story, the scene is usually very graphic and very distressing. The accident has occurred suddenly and the passengers are so shaken by the event that they fear to even drive. They are very frightened because the scene is so startling a nd there is so much chaos.In a good illustration of this sort of story, the protagonist suffers from trauma is depicted visually through the images and sounds. The unconscious characters are also used to build and develop character and conflict.Character is an essential element of a good story. While you want to focus on developing the protagonist, it is important to give the other characters some development as well. No character development is more important than the character development of the protagonist. Character development often includes character traits and behaviors that cannot be written about easily.The main characters in a story need to have certain qualities that make them sympathetic. They are all different in some way and every character needs to have a distinct quality. Whilecharacters need to have some traits that they share, they also need to be unique in some way. The uniqueness of each character is also essential for emotional impact.The story can be a great su ccess if you can describe clearly the themes and events of the essay. By writing the descriptive portions of the essay, you will add another element to the essay that could be very powerful. There is nothing more effective than describing your story in detail.All of the elements of a good essay can be found in a hard copy narrative writing sample. Your supervisor can help you decide how to structure the sample so that it best fits your needs.

Key Essays - Deer, Mammals Of New Zealand, White-tailed Deer

Key Deer The Key Deer is a small species (in population and in stature) of deer that lives in the Florida Keys. It is in the same family as the Virginia white tailed deer. The Key Deer is about 26 inches tall and weigh an average of about 55 pounds. The males have antlers, and the antlers grow in cycles. They drop their antlers at the beginning of spring, and they grow back by June. The deer feed on indigenous plants including the red mangrove, the black mangrove, and the white mangrove. The Key Deer can drink water with some salt in it, but needs fresh water to survive. Although it seems awkward, the Key Deer is a fairly good swimmer, and at times will swim from key to key. The Key Deer are endangered for two main reasons, the first and most detrimental is the loss of habitat. The Everglades has been cleared away for highways, and other commercial developments, and it has caused a huge drop in the population of Key Deer, among other animals. Another big reason why Key Deer have been disappearing are the highways in southern Florida. You have heard the expression "like a deer in headlights", and it is used because when deer see headlights, it freezes. This, although it makes for a good simile, causes a lot of road kill accidents with Key Deer. The National Key Deer Refuge was opened to breed Key Deer, and since its opening, the population has increased by almost %600!!! Also, Ms. Riskin, please make sure that you do not feed any Key Deer, because it causes them to be comfortable around humans, which sounds nice, but it is part of the reason that they hang around near the highway. So, that just about sums it up; thanks for not feeding Key Deer, and keep your foot on those breaks. Bibliography "Key Deer" February, 2000 http://www.shadow.net/~grgreen/glades/deer.html Kirkpatrick, Charles M. "Deer" The World Book Encyclopedia. Volume D, 1986 R., Austin. "Key Deer" February, 2000 http://www.miamisci.org/ecolinks/everglades/keydeerinfo.html

Innovation for Global Relationships Management

Innovation for Global Relationships Management Executive summary Global strategy is one of the main tools being used by multinational organizations. Information technology is essential in ensuring that organizations operate and enjoy competitive advantage.Advertising We will write a custom essay sample on Innovation for Global Relationships Management specifically for you for only $16.05 $11/page Learn More Most organizations are ignoring essence of information technology due to complexity associated with it. Airline industry has a global strategy that is integrated and articulated with information technology. The paper will discuss the process of developing a global strategy in relation to airline industry. The information will be useful to all industries as it will identify existing gaps in globalization. Qantas airline will be cited as an example of a company in airline industry. Policy formulators will find the information relevant as recommendations will involve political interventions. Introduction Globalization is integrated and comprehensive as evidenced by its numerous aspects that have been reviewed and researched on so far. Its evolution remains a mystery as some scholars argue that technology has contributed to the spread while others argue that technology is a product of globalization. The world of business is wholly submerged by this development as the strategies that are meant to realize the prioritized goal of every corporation are dynamic. Competitiveness of firms is now measured by it coverage globally that acts as a pace setter. Global business strategy entails plans, objectives and activities that are put in place by the multinational organizations so as to increase competitive advantage. This paper will discuss the process of that is involved in setting global strategy and the essence of global integrated information technology in its implementation process. Integrated global information technology strategy Many studies postulate that an integrated information technology must be well established globally so that global business strategy can be implemented effectively. Most organizations acknowledge the essence of integrated global information technology strategy but are reluctant due to high expenses that are involved in the purchase and the maintenance.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result, information technology strategy precedence is disregarded by most organizations and in event majority of the multinational industries are not truly global. It is only after integration of a global information technology that the industry is regarded as multinational. The process of developing an integrated global information technology strategy is to ensure that airline industry operations are monitored globally and a new approach is implemented as opposed to simple expansion of the already existing strategy in the domestic le vel. Qantas airline must be able to match the pace of technology so as to enjoy the advantages and be competitive in the global market.1 Industry globalization is one of the issues that contribute towards development of integrated global information strategy. Since globalization is on escalation all over the world, inclination towards information technology is more pronounced. More activities including those by airline industry will rely on information technology and therefore reluctance towards its adoption will mean reduced competition advantage for Qantas airline. The national competition level would also influence adoption of the global information technology. For the development of integrated global information technology to be successful airline industry must overcome the negative issues that are aligned in it. Qantas airline should understand that investments at global level are associated with high profitability as opposed to the domestic level. However the performance shoul d match the technology differentiation speed and expect better long term impacts and not short term. Airline industry should proceed towards the chronological process that should start with the required support.Advertising We will write a custom essay sample on Innovation for Global Relationships Management specifically for you for only $16.05 $11/page Learn More This involves prioritization and specification on the areas that require the services of information technology. Further integration of information technology would specify on the level in relation to different geographical sites. When developing the global integration of information technology the desired impact should be well considered based on the differences in geographic and cultural perspectives among the countries2. Competitive advantage Information technology that is globally integrated will offer many advantages to airline industry in three main ways. The entire performance will be increa sed leading to increase in the profitability at both domestic and global level. Effective communication system which is a product of integrated global information technology, would simplify monitoring and management process for Qantas airline. As a result processes that would have taken longer and inconvenienced the airline industry are simplified and enhanced through the action of information technology. Decision making and the control exercise is influenced greatly by the existence of information technology. The management of Qantas airline is entrusted with this crucial role that requires utter finesse. As a result the decision making process is faced with many obstacles like time wastage as well as tendency to make improper decisions. Information technology hinders this by disseminating important information regarding the decision making therefore acting as a guide for the managers. Strategic value endorsement is the overall positive influence that information technology has con cerning the Qantas airline design of the E- business.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This involves the knowledge management, the existing relationship between the consumers and the suppliers as well as relationship between the existing enterprises that Qantas airline will be able to establish. For example Qantas will be able to monitor the market progress in different states it operates in3. Information technology further influences the relationships between the consumers by strengthening the external coordination like the modification of the supply chain to meet the needs of the consumers. This can be further articulated by the constant gear towards consumer relationship management that incorporates all the necessary activities. It promotes interactions between the consumers and suppliers often by establishment of networking tools like blogs. Information systems The Human resource information system functioning can only be comprehended by careful scrutiny of all the undertakings by different users and implementation process. It should however be noted that there ar e different levels of usage among the different users in an organization just like the variance between different industries. Airline industry will use the discussed information system to integrate its global business strategy. Oracle application will be used in the airline industry because it ensures confidentiality as well as integrity because entire information is controlled in a central point. The duties and all activities of Qantas airline as well as data access will only be manipulated by the authorized person thereby reducing chances of external or internal sabotage. The application is well established as it has been differentiated consecutively so as to encompass diverse interests of the users. On the other hand the oracle system is very complicated and most users especially from the self service department find it difficult to use it. This means that the application will be mostly used by the experts in airline industry thereby limiting the coverage rate. This means that th e application is highly exclusive as compared to others that are much simpler and should be preserved for the executives of airline industry4. The ADP application will also be used in airline industry. The application is very efficient in the modification of the set query language in to the comprehensible one rendering. It will be useful to most of the common users in Qantas airline. Since the application can modify such setting of information there will be no need of purchasing other hardware thereby saving on time and money. On the other hand high technicality is required in modification of the set query language that is only done by an expert as opposed to other applications like MDB that can be wholly ran by the common users. I would recommend the ERP application as it is simple to operate especially in consideration that the common users are the majority. The application is also well differentiated and contains many in built processors as compared to other applications and woul d save on cost. There is also a centralized management that intensifies on the confidentiality and availability of the information in Qantas airline globally. For example customers will be able to purchase tickets and access relevant information via internet. The software as a service application is very effective and contains many services that reduce cost and saves time. The service costs are reduced because the application supports some services that would be paid for separately by the organization. The inbuilt services also mean that Qantas airline will not spend money purchasing hardware. There are also high chances of security that come along with the onetime service like the pay to use in most software. On the other hand the MS access application is highly insecure due to easy manipulation from either external or internal forces. The application is highly unprofessional and is highly characterized by collapse or corrupt files. The MS application is less standardized and has i nferior system as compared to other applications5. Reorganization process Multiple combinations into a single vendor can only function if only the applications involved communicate or are able to interpret the message. The system may not function in case of disagreement of terms between the applications that are set at the international level. In addition the combined applications may be irrelevant to other users and could only be accumulating space that could lead to slow processing of information. Ill management of the HR system would lead to high insecurity as the information could be manipulated internally or externally in airline industry. There is also likely to be under performance of the workers as transformation leadership would not be practical. This would lead to total failure of the projects and the goals of Qantas airline would not be met. The present system of the HRIS which is dynamic can accommodate additional applications and can be distributed throughout the world. The use of the HRIS can only be effective if well planned and is used in articulation of other applications like EPR or BOB due to the extra services like HTML. Conclusion It is evident that airline is a backbone of many other activities in the world. Collapse of airline industries dictates fall of the related businesses both directly and indirectly. Concern and support should therefore be given by the relevant stakeholders to ensure ultimate success globally. The government being the prime contributor to the financial aid that would boost this industry should be the first to intervene. The emerging inter organization relationship that is strongly influenced by information technology ensures maximum interaction and communication as electronic devises are highly involved. References List Allen, T MS Morton, Information Technology and the Corporation, Oxford University Press, New York, 2004. Cahney, W, The consumer electronics and related industries. Oxford University press, New Yor k, 1999. Stone, DL, KM Lukaszewski LC Isenhour, E-Recruiting: Online strategies for attracting talent, Jossey-Bass publishers, San Francisco, 2005. Walker, AJ, Best practices in HR technology, McGraw-Hill press, New York, 2004. Zampetti, R L Adamson, Web-based employee self-service, McGraw-Hill Press, New York, 2001. Footnotes T Allen MS Morton, Information Technology and the Corporation, Oxford University Press, New York, 2004. DL Stone, KM Lukaszewski LC Isenhour, E-Recruiting: Online strategies for attracting talent, Jossey-Bass publishers, San Francisco, 2005. AJ Walker, Best practices in HR technology, McGraw-Hill press, New York, 2004. W Cahney, The consumer electronics and related industries. Oxford press, Oxford, 1999, p.33 R Zampetti L Adamson, Web-based employee self-service, McGraw-Hill Press, New York, 2001.

CIF Contracts Essay Example | Topics and Well Written Essays - 1250 words

CIF Contracts - Essay Example This law essay outlines peculiar features of CIF contracts. Cost, insurance and freight (CIF) denotes that the vendor delivers when the products pass the ship's bar in the port of consignment. A CIF contract needs the seller to ship at the port of consignment the required products in the underlying agreement of sale, to acquire a agreement of carriage (bill of lading) under which the products will be delivered to the established destination, to organize for insurance that will be obtainable for the advantage of the buyer, to formulate a commercial invoice and lastly to tender these papers to the purchaser who must be prepared and willing to pay the cost of the consigned products. In such a scenario, the ownership of the products may pass either on consignment or on delivery of the documents. The risk normally passes on consignments or as from shipments, but ownership does not pass pending the documents which symbolizes the products are provided in exchange for the cost. As an outcome , the purchaser, after acceptance of the documents, can claim against the transporter for infringement of the agreement of carriage and against the underwriter for any loss enclosed by the policy. In accordance to a CIF contract, the buyer is required to pay against the tender of a genuine bill of lading that guarantees the products contracted to be sold, an insurance document and a saleable invoice that indicates the price.4 The buyer is obliged to make payment against the tender of the respective papers of contract notwithstanding of fact that the products have been damaged or lost at maritime after the shipment.5 In the incident of loss, such as case of study, the buyer (N&Y Ltd) must pay the value on provision of the documents and necessary remedies, if any, will be against the transporter as indicated in the bill of lading or aligned to the underwriter as per the insurance agreement, but not against the seller (A&W Ltd) under the agreement of sale. If the purchaser declines to pay (as indicated in this case) against the papers without any legal justification, the buyer shall be legally responsible to compensate the seller for damage that may outcome, as enacted in Article 150 within the Commercial Transactions Law (Meiselles 2013). Under a CIF agreement, the seller performs the requirements by providing the documents to the buyer. The seller is not required to deliver the products to the agreed destination but the seller is under a negative responsibility not to avert the goods from being delivered to the buyer at their premises. This might be executed by deterring the carrier from delivering products to the buyer or by transferring them to a diverse destination (Meiselles 2013). However, if the agreement contains a section that imposes on the seller an obligation to transport the products to the contracted destination, it is not regarded as a CIF agreement, even if the documents of ‘CIF’ emerge in the contract.   Not all agreements that ar e expressed to be CIF agreements are such. According to Article 155 of the Commercial Transactions Law,6 it is stated that ’a contract which encloses such status as will make the seller accountable for

Word history Assignment Example | Topics and Well Written Essays - 500 words

Word history - Assignment Example This paper discusses fashion changes during the World War Two. In 1940, the general style that women adopted looked like U.S military uniforms in a big way. The color and the cut of the clothes they wore on the home front always resembled what soldiers wore while fighting in the Pacific and European theaters. The blouses and jackets they wore were more masculine and militarized with shoulder pads. The hats similarly resembled U.S Army berets (Wolfe web). During war time, women took up more labor-intensive works like flying military aircraft, working in shipyards, and driving truck. These works highly influenced how they wore as safety and practicality would take over their glamour and femininity. The popularity of â€Å"Rosie the Riveter† meant that headscarf and slacks would become more stylish. The working class women dressed in silk pants for khaki jackets and blue jeans and high-heeled shoes. They also wore wraparound dresses with less adornments and their hair was pinned back to avoid it from getting caught by machineries (Monet web). With time, women’s clothing had to go with the rationing of certain materials used for military purposes. Silk and wool were in high demand for parachutes and uniforms, therefore, most civilians had to wear clothes made from rayon instead. To ensure that fabric was conserved, the manufacturers and dress makers started designing slimmer silhouettes and shorter skirts. Nylon would be available for civilian use only. Stockings disappeared shortly and women went barelegged. Within a period of four years, many women had joined workforce (Monet web). They demonstrated a lot of good skills, determination and patriotism and this undeniably impacted the fashion world. The people of Chavin first established the dominant civilization from 900 BCE and 200 BCE while Olmec’s people established the civilization in the centuries before 1200 BCE and declined around 400