Wednesday, May 27, 2020

Freddie Mac Company Analysis Essay - 275 Words

Freddie Mac Company Analysis (Essay Sample) Content: Freddie Mac Company AnalysisNameCourseCollegeTutorDateIntroductionFreddie Mac also known as Federal Home Loan Mortgage Corporation (FLMC) was created by the Congress in the year in 1970 in order to expand mortgage secondary markets in the country. It is government sponsored enterprise which buys mortgage in the secondary market by issuing guaranteed mortgage related securities. The mission of Freddie Mac is to create liquidity, stability and affordability in US housing market. Currently, the enterprise is working under conservatorship since 2008 and works under Federal Housing Finance Agency (FHFA) instructions. Freddie Macà ¢Ã¢â€š ¬s primary stakeholders are home owners and investors in the housing sector and all tenants.Freddie Mac is focused to create and meet liquidity needs in the residential mortgage market. This can be done through lowering cost for mortgage borrowers. By having Freddie Mac, the government is supporting stabilization of the economy through pro viding housing incentives, of low cost. Freddie Mac is currently running a program by the name "Making Home Affordable Programà ¢Ã¢â€š ¬Ã‚ , which is expected to make rental housing and homeownership more affordable by meeting the needs of the mortgage market. The program is also being driven towards helping families keep their loans by obtaining more sustainable mortgage and avoid foreclosures. By ensuring that mortgages are cheap and that home owners retain their loans, Freddie Mac is committed to reduce the number of foreclosures.Freddie Mac has been able to increase the number of homeowners in America to most citizens. Through its mission of creating liquidity in the mortgage market, the cost of mortgage has gone down and most people in America can afford owning a home. The corporation also ensures that there is stability in the market and avoid situations where the cost of acquiring a home goes beyond a point where most people in the country. These situations will lead to def ault of the mortgage by the homeowners and foreclosures. Freddie Mac has achieved success in that most Americans own their homes or rent houses at very affordable price (Morris, 2012).Five forces of competition analysisThe forces of competition for Freddie Mac are grouped into Porterà ¢Ã¢â€š ¬s five forces of competition. The company has Fannie Mae and Boston Properties as the major competitors in the mortgage industry.Bargaining power of suppliersIn the aspect of bargaining power of suppliers, there is low concentration of suppliers. Low concentration of suppliers indicates that those suppliers have limited bargaining power. Limited number of suppliers does not augur well with the mission of Freddie Macs who have a mission of protecting the mortgage industry and would need increased suppliers to lower costs of mortgage borrowing.Bargaining power of the buyerIn the mortgage industry, which Freddie Mac operates, there is large number of customers who need the entity services, there is limited information available and consumer choice is limited. Freddie Mac has a challenge when customers have limited information on the mortgage market and works to ensure that mortgage information is available to everyone and freely. There is need for different types of mortgages which will increase consumer choices, currently, only floating rate mortgage and fixed rate mortgage are existing.Rivalry of the existing firmsThough Freddie Mac has top rivals such Fannie Mae and Boston Properties Corporation, the firm is very competitive in trading in the secondary mortgage markets. The existing firms do not provide intense competition for the firm. With limited rivalry from the existing firms, there is uncertainty on whether the firm will offer the best services to its clients; the homeowners.Threat of SubstitutesFreddie Mac being a public corporation, which was passed by the Congress and given mandate to lower the cost of borrowing in the mortgage industry, and thus create afforda bility in the housing sector, has limited number of substitutes. Having limited number of substitutes enables the corporation to work out the best strategies which will assist the mortgage industry to be better and limit cases of mortgage default.Threat of new competitorsFreddie Mac is faced with threat of new competitors who will trade in mortgage secondary markets to bring who will bring a better change in the mortgage sector. If Freddie Mac does not give the best to mortgage and homeowners, there is threat that a new corporation will take over the mortgage secondary markets (Porter, 2010).SWOT Analysis of Freddie MacStrengthsFreddie Mac being a corporation which targets individuals and institutional who need investment mortgage has several strengths. Freddie Mac has the benefit of being the market leader in this business. When a firm is the market leader, consumers view it as providing the best services in the industry and opt to go for it. The corporation being government sponso red gives the customer the perception that it is a more secure enterprise than others. Freddie Mac has been recognized by the business community and has also been ranked by the Forbes. The firm has an advantage of having the best skilled labor, and they possess more than 6000 employees providing services.WeaknessesThe company does not have new strategies when it comes to mortgage secondary markets. Freddie Mac should be innovative enough to beat its competitors, who are taking most of their customers. Previous decline in net assets and income in their audited financial reports for 2012 chased away investors. The financial statements shook the confidence of the investors, and the corporation needs to do better with the coming years.OpportunitiesFreddie Mac can benefit if the home loan interest is lowered. Decline in interest market can bring confidence in the residential mortgage market and attract increased investors. As the government is working towards low cost and affordable home s, this opportunity will soon open up to the Freddie Mac. Government efforts to minimize the debt crisis, which were caused by global financial crisis, resulting from housing bubble will help Freddie Mac, through decline in default cases and increased mortgage lending.ThreatsWhen the government opts to change mortgage policies based on lending rules and procedures, investors might feel that the rules are too tough for them to adhere to, and reduce their buying and selling. This would be detrimental to Freddie Mac business. After housing bubble, which occurred in the past four years, there is increased risk in mortgage business. Furthermore, increased competition from existing and threat of new entrants poses a huge threat to Freddie Macs (Morris, 2012).Freddie Mac should work towards maximizing its strengths and minimizing its weaknesses. Every firm has weaknesses, and its only through minimizing them that it attains competitive advantage. Freddie Mac should utilize its position of being the market leader in mortgage loans and increase customers and deliver high quality services. Furthermore, the enterprise being government sponsored should woo more clients, who have the perception that it is secure, and assure its clients that they a secure enterprise. They should create have promotional campaigns in that their investment is less risky than other private owned mortgage firms. The firm having a large pool of competent employees should work on providing the best quality of services. To ensure that these employees do not move to their competitors, the firm should come up with motivational programs aimed at enhancing service delivery. The firm should also retain employees through increased salaries and wages, extra benefits and also provide the best working environment. On the aspect of opportunities, the firm should encourage the government to reduce the rate of mortgage borrowing, and through this strategy, they will increase confidence in the residential mortg age market.To maximize the shareholders value, there is also need to minimize weaknesses and threats. The firm should come up with the best business strategies and avoid risky investments which reduce its assets and the net income. The firm should also think of diversification, which means that these should act as back up incase unfavorable market conditions. Rise in the value of net assets and rise in net income will indicate growth and stability in an organization and this will grow confidence among the investors. In order to eliminate threat of existing and new entrants in the market, Freddie Mac should provide the best mortgage rates and streamline all its in that most of new entrants will find it hard for them to enter the market, and the competitors will find it hard to beat Freddie Mac (Kaplan Norton, 2013).Business Level and Corporate Level StrategiesFreddie Mac can also maximize its competitiveness and profitability through utilizing business level strategies and corporate level strategies. Business level strategies are the actions and procedures that firms take to provide value to customers and attain competitive advantage through their core competencies. Business level strategies in an organization are centered on customers and their goal is to create customer satisfaction, and attain competitive advantage at the same time. Freddie Mac can utilize business level strategies though providing mortgage loans at the lowest price in the market. This business strategy is known as cost leadership. Having the lowest rates while at the same time providing high quality services will make Freddie Mac attain competitiveness among its rivals, and also attract more customers leading to increased profits. Low mortgage rates are also hard to default for most customers and this will lead to minimal foreclosures on property of the clients who have defaulted. This is one of t... Freddie Mac Company Analysis Essay - 275 Words Freddie Mac Company Analysis (Essay Sample) Content: Freddie Mac Company AnalysisNameCourseCollegeTutorDateIntroductionFreddie Mac also known as Federal Home Loan Mortgage Corporation (FLMC) was created by the Congress in the year in 1970 in order to expand mortgage secondary markets in the country. It is government sponsored enterprise which buys mortgage in the secondary market by issuing guaranteed mortgage related securities. The mission of Freddie Mac is to create liquidity, stability and affordability in US housing market. Currently, the enterprise is working under conservatorship since 2008 and works under Federal Housing Finance Agency (FHFA) instructions. Freddie Macà ¢Ã¢â€š ¬s primary stakeholders are home owners and investors in the housing sector and all tenants.Freddie Mac is focused to create and meet liquidity needs in the residential mortgage market. This can be done through lowering cost for mortgage borrowers. By having Freddie Mac, the government is supporting stabilization of the economy through pro viding housing incentives, of low cost. Freddie Mac is currently running a program by the name "Making Home Affordable Programà ¢Ã¢â€š ¬Ã‚ , which is expected to make rental housing and homeownership more affordable by meeting the needs of the mortgage market. The program is also being driven towards helping families keep their loans by obtaining more sustainable mortgage and avoid foreclosures. By ensuring that mortgages are cheap and that home owners retain their loans, Freddie Mac is committed to reduce the number of foreclosures.Freddie Mac has been able to increase the number of homeowners in America to most citizens. Through its mission of creating liquidity in the mortgage market, the cost of mortgage has gone down and most people in America can afford owning a home. The corporation also ensures that there is stability in the market and avoid situations where the cost of acquiring a home goes beyond a point where most people in the country. These situations will lead to def ault of the mortgage by the homeowners and foreclosures. Freddie Mac has achieved success in that most Americans own their homes or rent houses at very affordable price (Morris, 2012).Five forces of competition analysisThe forces of competition for Freddie Mac are grouped into Porterà ¢Ã¢â€š ¬s five forces of competition. The company has Fannie Mae and Boston Properties as the major competitors in the mortgage industry.Bargaining power of suppliersIn the aspect of bargaining power of suppliers, there is low concentration of suppliers. Low concentration of suppliers indicates that those suppliers have limited bargaining power. Limited number of suppliers does not augur well with the mission of Freddie Macs who have a mission of protecting the mortgage industry and would need increased suppliers to lower costs of mortgage borrowing.Bargaining power of the buyerIn the mortgage industry, which Freddie Mac operates, there is large number of customers who need the entity services, there is limited information available and consumer choice is limited. Freddie Mac has a challenge when customers have limited information on the mortgage market and works to ensure that mortgage information is available to everyone and freely. There is need for different types of mortgages which will increase consumer choices, currently, only floating rate mortgage and fixed rate mortgage are existing.Rivalry of the existing firmsThough Freddie Mac has top rivals such Fannie Mae and Boston Properties Corporation, the firm is very competitive in trading in the secondary mortgage markets. The existing firms do not provide intense competition for the firm. With limited rivalry from the existing firms, there is uncertainty on whether the firm will offer the best services to its clients; the homeowners.Threat of SubstitutesFreddie Mac being a public corporation, which was passed by the Congress and given mandate to lower the cost of borrowing in the mortgage industry, and thus create afforda bility in the housing sector, has limited number of substitutes. Having limited number of substitutes enables the corporation to work out the best strategies which will assist the mortgage industry to be better and limit cases of mortgage default.Threat of new competitorsFreddie Mac is faced with threat of new competitors who will trade in mortgage secondary markets to bring who will bring a better change in the mortgage sector. If Freddie Mac does not give the best to mortgage and homeowners, there is threat that a new corporation will take over the mortgage secondary markets (Porter, 2010).SWOT Analysis of Freddie MacStrengthsFreddie Mac being a corporation which targets individuals and institutional who need investment mortgage has several strengths. Freddie Mac has the benefit of being the market leader in this business. When a firm is the market leader, consumers view it as providing the best services in the industry and opt to go for it. The corporation being government sponso red gives the customer the perception that it is a more secure enterprise than others. Freddie Mac has been recognized by the business community and has also been ranked by the Forbes. The firm has an advantage of having the best skilled labor, and they possess more than 6000 employees providing services.WeaknessesThe company does not have new strategies when it comes to mortgage secondary markets. Freddie Mac should be innovative enough to beat its competitors, who are taking most of their customers. Previous decline in net assets and income in their audited financial reports for 2012 chased away investors. The financial statements shook the confidence of the investors, and the corporation needs to do better with the coming years.OpportunitiesFreddie Mac can benefit if the home loan interest is lowered. Decline in interest market can bring confidence in the residential mortgage market and attract increased investors. As the government is working towards low cost and affordable home s, this opportunity will soon open up to the Freddie Mac. Government efforts to minimize the debt crisis, which were caused by global financial crisis, resulting from housing bubble will help Freddie Mac, through decline in default cases and increased mortgage lending.ThreatsWhen the government opts to change mortgage policies based on lending rules and procedures, investors might feel that the rules are too tough for them to adhere to, and reduce their buying and selling. This would be detrimental to Freddie Mac business. After housing bubble, which occurred in the past four years, there is increased risk in mortgage business. Furthermore, increased competition from existing and threat of new entrants poses a huge threat to Freddie Macs (Morris, 2012).Freddie Mac should work towards maximizing its strengths and minimizing its weaknesses. Every firm has weaknesses, and its only through minimizing them that it attains competitive advantage. Freddie Mac should utilize its position of being the market leader in mortgage loans and increase customers and deliver high quality services. Furthermore, the enterprise being government sponsored should woo more clients, who have the perception that it is secure, and assure its clients that they a secure enterprise. They should create have promotional campaigns in that their investment is less risky than other private owned mortgage firms. The firm having a large pool of competent employees should work on providing the best quality of services. To ensure that these employees do not move to their competitors, the firm should come up with motivational programs aimed at enhancing service delivery. The firm should also retain employees through increased salaries and wages, extra benefits and also provide the best working environment. On the aspect of opportunities, the firm should encourage the government to reduce the rate of mortgage borrowing, and through this strategy, they will increase confidence in the residential mortg age market.To maximize the shareholders value, there is also need to minimize weaknesses and threats. The firm should come up with the best business strategies and avoid risky investments which reduce its assets and the net income. The firm should also think of diversification, which means that these should act as back up incase unfavorable market conditions. Rise in the value of net assets and rise in net income will indicate growth and stability in an organization and this will grow confidence among the investors. In order to eliminate threat of existing and new entrants in the market, Freddie Mac should provide the best mortgage rates and streamline all its in that most of new entrants will find it hard for them to enter the market, and the competitors will find it hard to beat Freddie Mac (Kaplan Norton, 2013).Business Level and Corporate Level StrategiesFreddie Mac can also maximize its competitiveness and profitability through utilizing business level strategies and corporate level strategies. Business level strategies are the actions and procedures that firms take to provide value to customers and attain competitive advantage through their core competencies. Business level strategies in an organization are centered on customers and their goal is to create customer satisfaction, and attain competitive advantage at the same time. Freddie Mac can utilize business level strategies though providing mortgage loans at the lowest price in the market. This business strategy is known as cost leadership. Having the lowest rates while at the same time providing high quality services will make Freddie Mac attain competitiveness among its rivals, and also attract more customers leading to increased profits. Low mortgage rates are also hard to default for most customers and this will lead to minimal foreclosures on property of the clients who have defaulted. This is one of t...

Saturday, May 16, 2020

I Completely Seduced ] Is A Free Form Poem - 1223 Words

[completely seduced] is a free form poem focusing on the efforts and transformative process of motherhood. Brandt utilizes literary elements such as structure and space to directly address an impacting message to her readers. The integration of transformation in [completely seduced] strongly influences a connection between reader and speaker by indulging in the aspects and theme of a mother’s unconditional love. Through literary elements and a strong globally experienced theme, Di Brandt creates a powerfully raw message about the effects of being a mother and raising a child. Background: Di Brandt is a mother of two daughters. While raising the girls, she attended graduate school to further her education in literature; going on to become a†¦show more content†¦The story describes a change in everyday life following motherhood, as well as the seductive pleasure found in providing for, caring for, and sacrificing for a little one-- all to see yourself: â€Å"in the dark pool / of your baby’s eyes† (Brandt, 13/14). The spacing and structure of the poem is set up to allow flow and momentum in the poem and its narrative. The speaker’s voice is present with emotion as emphasised in a natural rhythm of thought offering an honest and bare interpretation of motherhood. The open â€Å"blank space† of the poem encourages a calm and breathy atmosphere, fulfilling a mood of tranquility and bliss. Each stanza is short with a couple quick fragmented thoughts before closing each section with the power of a single word. Each stanza breaks apart a separate thought filled with a loving passion the speaker uses to stress the beauty, wonder, and over-flowing love present in motherhood. To better the structure, the poem itself is broken into three parts, each representing a stage of motherhood. The first segment of motherhood that is represented is during the moments while the baby is still in the womb and the mother waits in anticipation for the baby to arrive. This â€Å"honeymoon† phase is expressed with a tone filtered through a perception of rose-coloured glasses and excitement as the mother is in utter bliss to carry a life into the world. TheShow MoreRelatedA Comparison of The Lady of Shallot by Alfred Lord Tennyson, My Last Duchess by Robert Browning, La Belle Dame Sans Merci by Keats and To His Coy Mist1281 Words   |  6 PagesAndrew Marvell In this essay I am going to compare four poems: 1. The Lady of Shallot- Alfred Lord Tennyson 2. My Last Duchess- Robert Browning 3. La Belle Dame Sans Merci- John Keats 4. To his Coy Mistress - Andrew Marvell The connecting theme of all the poems is that are all written about a woman in love or who is loved by someone else. With the exception of To his Coy Mistress, I would say they are all tragic poems as The Lady of Shallot and My LastRead MoreAnalysis Of The Poem The By Eavan Boland1579 Words   |  7 Pages Anorexic The poem Anorexia, written by poet Eavan Boland who is influenced by Irish political, cultural and historical context. Eavan Boland lived in society according to which a woman has always been given the role of dependent humble housewife with her husband the earner. The poem â€Å"Anorexic† is included in a serial of poems In Her Own Image†, where she considered such subjects as periods, women s diseases, infanticideRead MoreChristina rosetti selected poems annotations Essay4700 Words   |  19 Pages Goblin Market Two sisters: Laura + Lizzie- seduced by goblins – mainly Laura AO2 Form + Structure: Christian allegory of temptation, fall, and Redemption. Rossetti does this to challenge the decidedly patriarchal perception of norms within Victorian culture in terms of sexuality to reconstruct the Christian idea of redemption. Written in loose iambic pentameters, the rising metre often speeds up the pace of the poem. By composing an epic poem, Rossetti emphasises the fast pace of the storeyRead MoreHow to Read Literature Like a Professor Outline Essay3160 Words   |  13 Pagesbecause the snake seduced Eve in the garden. Vampires aren’t just involved in vampirism. 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The Study of Metafictive Devices of The French Lieutenant’s Woman†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...3 2.1 The Employment of Narrator-surrogate†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦.............................4 2.2 The Parody of Victorian Romance†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreThe Black Cat And The Tell Tale3559 Words   |  15 Pagesstories and poems, Edgar Allan Poe revitalized American literature. He was a main author in the nineteenth century during the movement of European literature. He is recognized as one of the leading progenitors of modern literature, in both horror and mystery fiction, and in its more complex and self-conscious form, which represent the essential artistic manner of the twenty century. He investigated the profound corners of the mind and its consciousness, with the abnormalities of his narrators. 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Wednesday, May 6, 2020

Exploring The Alienation Theme Of V.s. Naipaul s A...

I propose to analyze the alienation theme of V.S. Naipaul’s â€Å"A House for Mr. Biswas† with an angle from cultural criticism which questions traditional value hierarchies and takes a cross disciplinary approach to works traditionally marginalized by aesthetic ideology of white European males or females. Instead of more attention to canon, cultural studies examine works by minority working ethnic groups and post-colonial writer, and the products of the folks, urban and mass culture, Popular literature, soaps, opera, rocks, rap music, cartoons, professionals, wrestling, food etc.----all within the domain of cultural criticism. I am focusing on it particularly as it concerns questioning the ways western cultural tradition expressed in literature defines itself partly by shifting the voices of oppressed groups or even by demonizing those groups. I will focus on how literary tradition was constructed against oppositional literary identities as alienation and how differen t communities of readers might interpret the same text differently due to varied value system of cultural conflict. V.S. Naipaul reflects, â€Å"Suppose that at one word I could just disappear from this room, what could remain to speak of me? A few clothes, a few books. The shouts and thumps in the hall would continue; the puja would be done; in the morning the Tulsi store would open its door.† V.S. Naipaul is a prolific Writer of fiction, stories and commentaries on contemporary events. Similarly writing on theShow MoreRelatedSir Vidiadhar Surajprasad Naipaul was born in Chaguanas, Trinidad, on seventeen August 1932, the3000 Words   |  12 PagesSir Vidiadhar Surajprasad Naipaul was born in Chaguanas, Trinidad, on seventeen August 1932, the eldest son of a second-generation Indian. He was educated at Queens Royal college, Trinidad, and, once winning a government scholarship, in European nation at University college, Oxford. He worked shortly for the BBC as a author and editor for the Caribbean Voices programme. hes a Noble Prize-winning British author acknowledged for the comic early novels of island, the bleaker later novels of the

Tuesday, May 5, 2020

Company and Commercial Law Capacity

Question: Discuss about the Company and Commercial Lawfor Capacity. Answer: Introduction A contract is a legally binding agreement between two or more persons. A contract derives its binding nature from its elements or essentials. The essentials of a valid contract include; offer, acceptance, consideration, capacity, certainty of terms and intention to create legally binding agreement. All the elements must exist for a contract to have the force of the law such that an innocent party in case a breach occurs can move to court to claim damages or specific performance. Contract Formation Whether there was a Contract Between Vanessa and Li Wu and John In determining whether a contract existed between Vanessa and Li Wu and John, the essential elements for contract formation have to be analysed. The Advertisement put by John is not an offer. It is an invitation to treat. It is Vanessa and Li Wu who made an offer by booking through the website. Their offer is accepted by John and communication of the acceptance is done through email which they receive. In Partridge v Crittenden[1] , where the defendant through an advertisement in the magazine offered for sale bramble finches contrary to section 6 of the 1954 Protection of Birds Act. The court of appeal quashed the defendants conviction on the grounds that the said advert was an invitation to treat and not an offer for sale. Courts use the literal rule to interpret and determine whether a valid offer has been made or not. The communication of acceptance has been made by John through mail and therefore, the postal rule as to communication of acceptance is applicable. Communication was deemed to have occurred at the time when the email was received by both Vanessa and Li Wu. An advert can in certain circumstances amount to an offer. For instance, in the case of Carllil v Carbolic Smoke Ball Company[2], it was held that the advert could be construed as an offer as the plaintiff performed the conditions contained in the advert and any reasonable man could have used the smoke balls and that acceptance of an offer can be through performance or conduct. This scenario is distinguishable from Carllil case above as there was no complete performance of the conditions in the advert. It is an invitation to treat to which they made an offer which John accepted and communicated his acceptance. Generally, in contracts for commercial purposes, the intention to be bound is presumed to exist. The contract between Vanessa and Li Wu and John is of a commercial nature and therefore, the parties had intention to be bound by the terms of the contract. Another essential element of a valid contract is the consideration. Consideration refers to a benefit to the offeror or a detriment to the offeree. It is measured through monetary value. Love and affection has been held to amount to consideration. In this case Vanessa and Li Wu both paid the price of $ 80.00, an amount which is considered as the consideration. Therefore, a legally binding contract existed between the parties as all the elements of a valid and legally enforceable contract existed. The contract was made when Li Wu and Vanessa made a booking in Johns Website and paid the $ 80.00 and John accepting their offer through communication by email. Their signing of the form signified that they agreed to be bound. Whether John is Liable for Breach of Terms of the Contract A contractual term can be said to refer to what the parties agreed on during the negotiation of the contract. Terms are either express or implied. An express term is what is contained in the contract document. It is what the parties agreed on. Implied terms however are not contained in the contract document; parties might have not agreed on them but are implied under common law through custom or statute. John is in breach of both the express and implied terms in the contract. The advert stated that there was a reward of a certificate, a pair of bathers and a bottle of sunshine. The rewards contained in the advert are express terms that might have induced both Vanessa and Li Wu to enter into the contract. John by representing that he was joking by promising a pair of bathers and bottle of sunshine is a breach of an express contractual term. The court can imply a term into the contract if that term or practice is common in a particular trade. For instance, the contract between John, Vanessa and Li Wu is one related to tour guidance and operation. In this type of contract to provide tour and skating services, there are approved standards required of safety equipment to be used. Tour operators are also required to register and obtain license to operate. The tour operators are required to obey warnings on the safety of a river especially after heavy downpour. These are implied terms that are not contained in a contract and they are included by the court especially where damage occurs. They are common in the practice and contained in the statutes. In Hutton v Warren[3], the court held that where it was a common practice in a particular trade for certain terms to exist, such terms would be implied in any contract in that trade. John is therefore in breach of the terms of the contract and cannot claim protection from the exclusion clause. John did not take steps to bring to the attention of the parties, the existence of the exclusion clause and therefore cannot seek protection from the same. He is liable for the injuries sustained by Vanessa the signature notwithstanding. Whether John is Liable for Breach of Statutory Guarantees Consumer guarantees on the provision of services are provided by part 3-2-1 of the Australian Consumer Law. The first statutory guarantee relates to provision of services with due care and skill. John is in breach of this statutory guarantee as he acted with a lot of carelessness as regards to the safety of both Vanessa and Li Wu. He failed to provide standard safety gears and a failure to adhere to the warning that the river would be unsafe after a heavy down pour. John is not registered as a tour operator. The authorities therefore did not have the opportunity to interrogate and ascertain his skills, expertise and experience as a tour guide. His skills cannot be therefore ascertained; he is in breach of the statutory guarantee as a result. There is also a guarantee as to the fitness for purpose. That the service provided or the implements for the provision of the intended services should be fit to achieve the intended results. John used cheap safety gears which could not protect the applicants from incurring injuries and enable them get out of the river unhurt. He is therefore in breach. Conclusion While one may not exclude the guarantees contained in the consumer Law, liability for personal injury resulting in death are however exempted under the law. They are categorized as injuries occurring from a sporting activity which require the exertion of physical force. They are however liable if it is established that the implements were of a lower quality. In this case therefore, John is liable for breach of the statutory guarantees and is liable to pay damages and the prayers for breach of contract. List of Cases Partridge v Crittenden Carllil v Carbolic Smoke Ball Company Hutton v Warren

Thursday, April 16, 2020

The Legal and Ethical Environment of Business

Introduction The company in question is involved in manufacturing where it produces a variety of wood products. It has been a sole proprietorship form of a business unit and currently. However, the owner has plans of converting the company to another form of business unit by considering various factors. However, the entrepreneur does not comprehend all forms of business units and thus he needs to make an informed decision before choosing the form of business that suits his situation.Advertising We will write a custom critical writing sample on The Legal and Ethical Environment of Business specifically for you for only $16.05 $11/page Learn More Discussion of Various Forms of Business Units Sole proprietorship Sole proprietorship is the simplest form of business organization as it is formed and managed by a single individual. With this form of business, the organization is not registered on its own, hence cannot be separated from the owner (Lau Johnson, 2011). Moreover, the owner is entitled to all profits generated by the business at the end of a financial year as well as losses in case they arise. However, the owner is responsible over all debts and liabilities entered into by the business. In the formation of a sole proprietorship, the status automatically passes to the owner. However, for the business to be legal, the owner has to register and obtain the necessary licenses and permits. However, rules regulating the registration process differ in accordance to the location of the business and the industry. In terms of taxation, the owner has to withhold taxes and submit them to the relevant authority. Moreover, the business cannot be taxed separately since incomes generated are also the owner’s incomes. Advantages Sole proprietorship is cheap and easy to form for structural costs are quite low as compared to other forms of business units. In addition, legal costs in relation to obtaining necessary documentation, licenses, and permits are always at minimum. In addition, it is easy to prepare and file tax returns for the business is not taxed separately from the owner, which makes it easy to fulfill reporting requirement in relation to taxes. Decision making process is simplified and faster since the owner is the sole decision maker. Sale and transfer of properties takes place at the discretion of the owner, hence maintenance of secrets within the organization (Lau Johnson, 2011, p. 236). Disadvantages In case the business falls into liability and is unable to pay, the owner is held liable for the debts and obligations of the organization. In addition, any liable act committed by the employees of the business is charged against the owner. In addition, the owner may not have expertise in all areas of management; therefore, he or she may find it difficult to run the entire business. Where there are no finances to start up the business, it is hard to raise capital, especially through seeking financial a ssistance from banking institutions.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More General partnership A partnership defines the relationship that exists between two or more people who have an aim of getting involved in business practices. In the course of carrying on a business, all parties involved share profits and losses as agreed. In the case of a general partnership, each of the partners contributes capital, skills, and even labor in return to sharing into the profits and losses of the business. Although, there is no regulation requiring a partnership to be registered officially, it is always recommended for people to do so (Lau Johnson, 2011, p. 240). In a court of law, evidence of two or more people carrying on a business is enough to call it a general partnership. It is also acceptable that a sole proprietor can change his or her business to this form. In the case stu dy, the sole proprietor is thinking of changing the form of his business to something else. However, if he settles for this form of business, he must be willing to have an additional partner into his business. Termination depends on the type of that the business partners were in; however, it can also end due to factors stipulated in the agreement. Advantages Raising capital is quite easier than when compared to a sole proprietorship for each partner contributes a certain portion of the capital. As opposed to a sole proprietorship, a general partnership can also access loans from financial and non-financial institutions. In the presence of an agreement, it would be easier to solve any problem that arises among partners. Division of labor can easily be exercised, as each partner will participate in running the business. Disadvantages In a general partnership, every partner is liable to all debts and liabilities of the organization. Unfortunately, all profits generated by the business are shared among partners. In addition, due to agency relationship that exists among partners, a mistake made by one person affects all other partners in the business. Death of a single partner means an end to that partnership. Partners are also not free to transfer the ownership of their share to another person freely. Secrecy is not guaranteed in this form of business since every partner is authorized to transact on behalf of all others and all have equal access to books of accounts (p 245). Limited partnership As opposed to a general partnership, limited partnership must involve proper documentation. Partners willing to venture into such a business must also be willing to have a specific location. The partnership consists of limited and a general partner. The limited partner enjoys limited liability, whereas general partners are held liable to the extent of their personal liability. Creation of a limited partnership begins by filing limited partnership certificates through the re levant agency.Advertising We will write a custom critical writing sample on The Legal and Ethical Environment of Business specifically for you for only $16.05 $11/page Learn More Advantages Not all partners are liable to the debts and liabilities of the company. Limited partners are not liable to the debts of the partnership. In case of general partners, they are only liable to the extent of their contribution and not the entire liability. Raising capital for the partnership is quite easy. Disadvantages Any legal liability attached to the partnership can be passed to the general partner if the business is unable to meet its obligations. On the other hand, limited partners are passive investors, as they are not allowed to assume active participation in the management of the business. The process of setting up may be long and cumbersome due to the registration procedure required. General partners end up bearing heavy and unnecessary risks of the business. C-corporation These traditional corporations are currently retained by most large organizations globally. The C- Corporations are governed by a board of directors, officers, and bylaws. Stock certificates are also issued to the initial shareholders. Formal paper work is filed in relations to stipulations within the state where the corporation is set up. Advantages The corporation ensures protection of the owners’ properties through separation of actions of owners from those of the corporation. The business is a legal entity that can act on its own; therefore, can sue or be sued without involving the stockholders and other officers. Shareholders have powers to vote for the directors based on their number of shares as stipulated in the articles of incorporation. Shareholders can freely transfer their shares without consultations. Disadvantages Lengthy and bureaucratic procedures are followed during incorporation. Decisions are made by officers and director, and thus the decisi ons may not align to the wishes of shareholders. These organizations are subject to corporate taxes that translate to additional costs to the organization. This corporation is subject to double taxation, since shareholders are also taxed on their dividends (Lau Johnson, p.249). S-corporation An organization has first to move to a C-Corporation before being upgraded to the status of an S Corporation. However, an S-Corporation cannot accommodate more than 100 shareholders. Moreover, it is the responsibility of these shareholders to pass their corporate income, deductions, losses, and credit. S Corporations have one class of stock. Advantages Shareholders have the privilege to choose their profits and the extent of their losses. The corporation is also not subject to double taxation as opposed to C-Corporations for the corporation reports the flow of incomes and losses on members’ personal tax return, hence avoiding double taxation.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Disadvantages The corporation has only allowable shareholders, thus restricting partnerships and alien shareholders. The corporation is also selective on some certain financial institutions, insurance companies, and some domestic and international sales corporations. For a small business, joining this corporation is complicated, as one has to fill some forms to be granted permission . Limited liability company This business organization has a membership of 10 to 20 members, but it should not exceed 50 members for professionals. Members’ property and shareholders are protected and thus cannot be used to settle financial obligations of an organization. One of the advantages of this form of a company is that shareholders’ wealth is protected. The company is also a going concern since the death of any member cannot affect the continuity of operations. However, the company is subject to double taxation since both the company and shareholders’ dividends are also taxed . Recommendations From the case presented above, it is evident that the business has outgrown its capacity as a sole proprietorship. Since the organization had not yet formed any form of the corporation, the owner should upgrade the business to a limited liability company. The organization needs to increase its earnings, thus leading to an increment in profits that can cater for the increased expenses in relation to those of other corporations. A limited liability company could suit the organization, as it is easier to form in comparison to the S and C corporations. Although the company is subject to double taxation, I strongly recommend this form of business organization. For the case of these other corporations, there are stringent measures, as stipulated by regulations governing the formation of these organizations. With the expansion of a business, an organization is likely to seek services of expatriates because such a move comes along with inventions and innovations mostly in technology. This aspect will be a crucial idea for the business that is dealing with timber products. Improved technology would ensure proper utilization of available resources and introduction of new designs. Although I support strategies outlined by S Corporations, I would not recommend it because this form does not favor alien shareholders. I strongly recommend a limited liability company as it would ensure wealth of shareholders is safeguarded. Moreover, the sole proprietor was used to dealing with a small number of employees; therefore, recommending companies that would require many shareholders would amount to incompetence. A limited liability company is suitable, as the owner will only have to deal with less than 50 shareholders, and thus management becomes easier. Reference Lau, T., Johnson, l. (2011). The Legal and Ethical Environment of Business. Irvington, NY: Flat World Knowledge. This critical writing on The Legal and Ethical Environment of Business was written and submitted by user Ignacio Flynn to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Friday, March 13, 2020

Challenge in Internationalization and Outsourcing

Challenge in Internationalization and Outsourcing Introduction Internationalization and outsourcing refers to the elements of interest in global aspects with contextual respect to business. With the spread of globalization theory, institutions have sought to obtain their resources as well as sell their products in a global perspective.Advertising We will write a custom assessment sample on Challenge in Internationalization and Outsourcing specifically for you for only $16.05 $11/page Learn More International trade and outsourcing of an organization’s resources have therefore become fundamental of large as well as medium companies. This paper seeks to discuss challenges facing Coglin clothing company in relation to internationalization and outsourcing. The paper will explore external environmental conditions of Coglin clothing. Case study Coglin is a clothing design and manufacturing company in Australia. The firm has been in existence for twelve years and under one chief executive officer. The compan y has experienced a considerable level of growth though it is currently faced with a number of threats. Its recent growth has led to changes such as increased level of recruited staff and expenditure on management. The company is also facing increased competition from the global market following the government’s move to liberalize the local market to international trade. The company is thus faced with the task of copping with the external environment in order to handle its current and future contracts (Case Study, n.d., p. 1). External Environment facing Coglin Clothing External environment facing an organization refers to forces that emanates from outside the organization which has the capacity to affect the operations of the particular organization. Factors such as competition facing an organization as well as issues that pertains to regulations and natural factors therefore constitute an organizational environment. The environment with respect to Coglin Company can be view ed from two perspectives: â€Å"task environment and general environment† (Wadolell et al., 2007, p. 83). Task environment refers to the organization’s immediate factors such as its â€Å"suppliers, distributers, customers and competitors† (Wadolell et al., 2007, p. 83).Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These factors are immediate in the sense that they face the organization in every aspect of its operations. The other category of environment, general environment, consists of widely extensive factors that include â€Å"economic, technological, sociacultural, demographic, political and legal, and global forces that affects the organization† (Wadolell et al., 2007, p. 83). Suppliers to an organization are the parties that make the organizations provisions for resources. Such parties are occasionally subject to variations with respect t o elements such as â€Å"nature, number and type† (Wadolell et al., 2007, p. 83). The organization’s suppliers can for example change their structures and terms or relation with their contracting partners such as coglin or their number could change due to closures or entry of more firms in the supplier market. Any change with respect to the organization’s suppliers will call for adjustments by Coglin’s managers in order to maintain the company’s desired and planned operations. This is because any of such changes will either have an advantage or a disadvantage to the organization calling for a move to either capitalize on cases of opportunities or to counter any form of threat. A reduction in number of suppliers is, for example, associated with a stronger bargaining power by the remaining parties over the company. Coglin might therefore be forced to endure dictated terms from suppliers if the number reduces to levels that can have monopolistic or ol igopolistic influences. An increase in the number of suppliers on the other hand gives more power to the company through its increased options in seeking supplies. Competition among the suppliers will also lead to moderated terms which will be advantageous to Coglin. Similarly, distributers have a significant level of impact in a producer company such as Coglin. As a link between the company and its customers, the effectiveness of the relationship between the company and distributers will be reflected in its level of sales.Advertising We will write a custom assessment sample on Challenge in Internationalization and Outsourcing specifically for you for only $16.05 $11/page Learn More A reduced number of distributers will have a negative impact on the company in terms of more bargaining power by the remaining distributers together with a threat of reduces consumer servicers in cases where the number of distributers cannot reach all customers. The company may therefore suffer from reduced sales. An increased number of distributers will on the other hand give more advantage to the company with respect to relatively increased power by the company over the distributers and subsequent customer coverage (Wadolell et al., 2007, p. 87).  Customers refer to the parties that purchase products from an organization. Being a clothing design and manufacturing industry, Coglin’s customers include â€Å"individuals, small companies, large companies, government agencies and educational institutions† (Wadolell et al., 2007, p. 83) that might be interested in the company’s textile products for final use in houses and office premises. The products from the company can be used by these parties for clothes or furnishings. Changes with respect to consumers also affect the decisions made by management of the company. Unlike suppliers and distributers, customers exhibit a wide variety of changes that can include fashion, taste, and income , complimentary and supplementary products among others. The changes in consumers will also be realized in either an advantageous or a disadvantageous perspective. Competitors also shape the direction of the organization’s decision making in terms of moves to gain or maintain market control (Wadolell et al., 2007, p. 88). The general environment surrounding Coglin Company is on the other hand diverse in nature and is mostly out of control of the company’s management. Coglin is therefore in response forced to adopt decisions that will align the company to its best advantage following the environmental conditions. Being a profit oriented organization; the company is highly affected by economic factors in its surrounding. Elements such as â€Å"interest rates, inflation, changes in disposable income, share market fluctuation and the general business cycle† are some of the economic factors that affect the company (Robbins et al., 2009, p. 86).Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The economy with respect to individual customers is for example directly associated with the level of demand for products in any market. Economic factors such as reduced incomes or increased unemployment rates therefore cause negative effects on the company’s capacity to generate revenues. This is because such changes causes customers to either reduce or suspend expenditures on non basic commodities in which category, clothing may fall. This effect is also felt with respect to institutions that will be forced to control their expenditures and concentrate on necessities. Inflation which affects elements of the company such as the prices of its resources also has direct impacts on its management. When the economy realizes inflation prices of resources shoots up raising production costs of the company’s commodities. Consequently, the management is forced into the dilemma of whether or not the increased costs should be transferred to customers in the form of increased prod uct cost. More complications are realized in cases where production costs in external markets are not affected by inflation and cheaper products are availed through importation (Robbins et al., 2009, p. 86). Political and legal requirements in a business set up also drives the operations of organizations in their territories. Political stability, for instance, has both direct and indirect impacts on the operations of organizations. Political instability induces negative impacts on environmental factors such as security, economy and even investor confidence. Instances of politically instigated violence can, for example, disrupt production processes and even distribution of finished products due to curtailed movements of employees, distributors and even customers to Coglin. Compromised investor confidence due to political instability can also lead to reduced levels of productions in order to avoid loses due to economic instability. Legal issues also significantly affect the organizati on. Laws that cover elements such as: â€Å"practices regulations, environmental protection laws, anti discrimination policies and industrial relation legislations† (Robbins et al., 2009, p. 86), play a direct role in shaping management decisions making. Every decision by the management that relates to sourcing of raw materials, recruitment and management of human resource, production processes and relations with other parties are conducted in line with constitutional requirements and bi-laws. Regulations such as antidiscrimination laws and rights of employees significantly affect decisions with respect to actions against employees who might not be performing or behaving to the expectation of the organization. Managements may be forced to compromise on the company’s principles and objectives just to avoid legal actions that can be instituted by certain disciplinary actions are taken against employees. Social and cultural factors such as â€Å"crime, violence, religion and spiritual activities and lifestyles† (Robbins et al., 2009, p. 86) also affect the organization. The products of the firm are directly related to religious and traditional believes that are evident on people’s clothing. Lifestyles and fashion in dressing codes and premises’ furniture and decorations are also directly related to the organizations products. Coglin’s management is therefore obliged to yield to pressure as caused by these factors and align the company accordingly (Robbins et al., 2009, p. 87). International aspects The company’s operations especially with respect to international trade are also dependent on forces in foreign countries that affect business transactions. One of the forces in international trade is the fluctuation of currencies of the countries which the trading parties come from. When the Australian currency rises against currency of an importing country, Coglin experiences a disadvantage with respect to global compe titiveness. This will negatively affect and even limit the company from exploring foreign markets. A fall in value of the domestic currency relative to foreign currencies on the other hand favors the company with respect to international trade. The economic stability of Australia which categorizes it under developed countries also influences its impact in the international market following the recognized flow of goods from developed countries to developing countries (Bartol et al., 2009, pp. 65, 519). International business refers to the trade activities that are conducted between countries. With the emergence of globalization, international trade has been realizing a growing trend in terms of the amount of commodities that are moved across boarders in terms of trade. Data revealing the trend in volume of international trade from the year 1995 to 2004 indicates a general increase in the volume of trade especially after the year 2001. The percentage increment in volume of internation al trade has also been significantly increasing (IFCBA, n.d., p. 2). Administrative measures of exploring international markets, identifying and capitalizing on factors such as â€Å"mergers and acquisition† are some of the steps to internationalization of business (IFCBA, n.d., p. 7). A company’s involvement in international trade however enlists more responsibility with respect to managing â€Å"delivery of goods and money, bureaucratic hick ups and distance and travel time† (Sercu P., n.d., p. 8). Factors that would impact Coglin in Vietnam and Thailand External environmental factors in Vietnam such as cheaper labor and cost of locating a business enterprise, â€Å"intellectual property threat† and poor infrastructure contributes to task environmental factors. Consideration of factors such threat to intellectual property and poor infrastructure in Vietnam can overweigh factors such cheap labor to influence investors away from the country (Nieuwoudt, 20 10, p. 1). The market in Thailand which has a wide advantage with respect to general environment such as government policies is on the contrary not favorable with respect to task environmental factors. The Thailand textile market is also already saturated with both export and import activities that might not make it very attractive for new investments (Report, 2010, p. 1). Control measures to challenge in Vietnam and Thailand The challenges in Vietnam and Thailand include both general and task environmental forces that include factors driven by government policies and market forces for resources and finished products. A firm in these locations will therefore enact decisions to capitalize on the advantages that are offered by market forces such as cheap labor and market liberalization effects as well as adopting policies that are in line with the country’s legislations (Nieuwoudt, 2010, 1). References Bartol et al., (2009).  Management. Sydney: McGraw Hill. IFCBA.  New tre nds in international trade, emerging business models, and the needs of small and medium-sized businesses in preparing the Framework of Standards to Secure and Facilitate Global Trade. Web. Nieuwoudt, T., (2010).  Vietnam’s textile industry: Opportunities and challenges. Web. Report., (2010).  Prospects for the textile and clothing industry in Thailand. Web. Robbins et al.,  (2009).  Management. Sydney: Prentice Hall. Sercu, P.,  Managing credit risk in international trade. Web. Wadolell et al., (2007).  Contemporary management. Sydney: McGraw Hill.

Wednesday, February 26, 2020

Analysis of The Legal Profession Research Paper

Analysis of The Legal Profession - Research Paper Example Several factors have to lead to these changes including debates on whether the legal profession has become more inclined on the commercialism aspect, rather than professionalism. According to Richard Susskind’s article ‘Legal profession is on the brink of fundamental change’, he views that: â€Å"The challenge is not to assess how commoditization and IT might threaten the current work of lawyers so that the traditional ways can be protected and changed avoided. It is to find and embrace better, quicker, less costly, more convenient and publicly valued ways of working.’2 In discussing commercialism, one view is: What was remarkable this time was that the leadership of the organized bar made commercialism a central concern of its rhetoric about declining professionalism and that the resulting crusade struck such a responsive chord among the bar as a whole. ‘In the past, progressive jurists and liberal law professors have chastised the bar for becoming more of a business than a learned, public-oriented profession, and leaders of the bar have sometimes pointed out that a few lawyers (â€Å"ambulance chasers†) have succumbed to the profit motive.’3 However, despite this negative perception of the legal profession, many young students are drawn to the profession of traditional lawyering because of the prestige and honor attributed to full-fledged lawyers, knowing that they can serve the community and the country for humanitarian causes. II. Duties and Responsibilities The legal profession covers several responsibilities for the practicing or supervising lawyer, paralegals, legal assistants or law students. The legal profession is considered teamwork composed of lawyers, paralegals, legal researchers, and the legal staff. In order for a law firm to succeed in every case assigned to it, their lawyers must be able to present well- researched and valid defenses in asserting their claims during the trial proper or when filin g complaints. The secret to winning in the legal battlefield requires tedious concentration by putting time and effort in the rigorous work of research, interviews, and gathering of evidence. These tasks cannot be delegated to the lawyer alone. An attorney needs all the help he can get from paralegals and legal assistants working with him to build up the pieces of evidence needed for every case. It is expected the lawyers delegate some of their responsibilities to a paralegal or legal assistant in order to concentrate during the presentation of evidence in court or conducting interviews with the clients. Hence, it is a given fact that a lawyer’s success in every litigation case that he handles is attributed to the impeccable research work and above reproach investigative skills his or her paralegal or a legal assistant.