Tempur Pedic Quality Process Improvement Plan Essay

Tempur Pedic Quality Process Improvement Plan - Essay Example As Hill writes, "top management determines quality priorities, establishes the systems of quality, management and the procedures to be followed, provides resources and leads by example" (Hill, 1991). The concept emerged from the work in statistical quality control at the Western Electric Hawthorne plant in the 1930s and was associated with the work of W. Edwards Deming and Joseph Juran (Chase, Jacobs, 2003). It was introduced to Japan by the Americans as the occupying force in the immediate post war era and found its greatest expression in Japanese manufacturing industry. Literature review. Two themes in the research literature have been particularly prominent in recent years: "the ways of improvement" as a source of service planning and the debate over the different methods and models of successful production technoques. Up-to-date scholarship on both of these themes is reflected in recent researches R.B. Chase, R.F. Jacobs (2003), N. Slack, S. Chambers, R. Johnston (2003), D. Dow (1999), etc. In their works these authors develop a new theoretical approach which can be applied to practice. The works they provide a lot of example of management teams and their experience in TQM. These researches join theoretical and practical side of strategy, giving recommendations for improvement in the TQM to ensure customer satisfaction. "Production and A big layer of literature concerning this topic belongs to such gurus as T. Hill "Production and Operation Management: Text and cases" (1991), N. D. Harris "Service Operations Management" (1989). Their theoretical studies on improvements based on TQM, sustainable competitive advantage, the role of standards, etc, are still the basis of any research in the field of production and operations management. They examine and discuss the role of different companies for product and service improvement can successfully use TQM. Internal factors. Monitoring of the environment is an important method that helps to search for new trends in operations management. Managers should take into account internal and external factors that influence a potential consumer. The policy of implement restructing sooner rather than later was proved to be correct. There is no two cuctomers with the similar requiments, that is why operations management must respond to different customer needs. Factors Internal to a company are types of workers, organization structure, assumptions about people, technology, vision, mission and values of the firm, n ature of ow nership and management. Tempur Pedic is a Swedish Company which manufactures and distributes mattresses and pillows made from its proprietary "Tempur" pressure-relieving material. This material consists of a visco-elastic material that conforms to the body to provide support and help alleviate pressure points.The company operates in 60 countries around the world. In a time of rapidly changing technologies and ever-shorter product life cycles, product development often proceeds at a glacial pace. In an age of the customer, order fulfillment has high error rates and customer enquiries go unanswered for weeks. In a period when asset utilization is critical, inventory levels exceed many months of demand. The usual methods of boosting performance - process rationalization and automation - haven't yielded the dramatic improvements for Tempur Pedic Company need. In particular, heavy

Disscus the challenges that global warming presents to both Essay

Disscus the challenges that global warming presents to both governments and business - Essay Example The purpose of this paper is to describe the challenges that global warming represents to both businesses and governmental institution around the world. Global warming is a problem that concerns the entire society across the world including the public and private sectors. Some of the dangers and consequences associated with global warming include ocean circulation disruptions, desertification, flooding of low-lands due to higher sea levels, hurricanes, extinction of species, mass disruptions of agriculture, and mass movement of people away from coastal cities (Bionomicfuel, 2011). Global warming is hurting the earth’s ecosystem and is putting at danger the well-being of our future generations. The gas that is responsible for the majority of global warming is carbon dioxide (CO2) (Nationalgeographic, 2011). Based on the fact the CO2 is the primary reason for global warming corporations and governments have to implement solutions to limit the release of CO2 into the atmosphere. There are five others gases which are considered by the Kyoto Protocol of 1997 as contributors to global warming. The six greenhouse gases that are targeted by Kyoto are CO2, N2 O, HFC, PFC, and SF6 (Sudgen, 2011). The Kyoto Protocol was created in 1997 with the purpose of establishing standards in order to reduce air pollution. The treaty set environmental standards in industrialized nations. Developing countries were not included in the Kyoto protocol. The fact that developing countries were not included in Kyoto made this international regulation a bit ineffective in the battle against global warming. The treaty forced countries to meet their national targets through their own initiatives. There are three mechanisms that help countries achieve their environmental goals. The three mechanisms included in the Kyoto protocol were emission trading also known as carbon trading, development mechanism, and joint implementation. Emission trading limits and trading rules in each country va ries which makes every emission trading market operation different (Sudgen, 2011). The way emission trading works is that companies that fall below the set environment standard receive credits. These credits can be sold to companies that exceed their limits so that the buying company can comply with Kyoto. One of the most active and effective carbon trading systems in the world is the European Emission Trading Scheme (EU ETS). Since the scheme includes the participation of many countries the EU ETS is the largest trading system in the world. The capacity of the EU ETS is 2 billion tonnes of CO2. The clean developing mechanism is the second mechanism provided by the Kyoto protocol. The developing mechanism allows companies with subsidiaries in developing countries to implement emission reduction projects in a developing nation such as Argentina. The reduction in emissions of these projects gives the companies carbon credits that can be used in their operations in industrialized count ries. The joint implementation system allows companies that have subsidiaries in other industrialized countries to interchange the carbon reduction credits earn in either country. A problem with the Kyoto Protocol was that the most powerful nation in the world, the United States, never acceded to it. A new governmental

Law Revision Kit Certified Public Accountants Essay Example for Free

Law Revision Kit Certified Public Accountants Essay ALL RIGHTS RESERVED. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the copyright owner. This publication may not be lent, resold, hired or otherwise disposed of by any way of trade without the prior written consent of the copyright owner. Â © THE REGISTERED TRUSTEES STRATHMORE EDUCATION TRUST 1992 INSTRUCTIONS FOR STUDENTS This study guide is intended to assist Distance Learning students in their independent studies. The course has been broken down into eight lessons each of which should be considered as approximately one week of study for a full time student. Solve the reinforcement problems verifying your answer with the suggested solution contained at the back of the distance learning pack. When the lesson is completed, repeat the same procedure for each of the following lessons. At the end of lessons 2, 4, 6 and 8 there is a comprehensive assignment that you should complete and submit for marking to the Distance Learning administrator. SUBMISSION PROCEDURE 1.After you have completed a comprehensive assignment clearly identify each question and number your pages. 2.If you do not understand a portion of the course content or an assignment question indicate this in your answer so that your marker can respond to your problem areas. Be as specific as possible. 3.Arrange the order of your pages by question number and fix them securely to the data sheet provided. Adequate postage must be affixed to the envelope. 4.While waiting for your assignment to be marked and returned to you, continue to work through the next two lessons and the corresponding reinforcement problems and comprehensive assignment. On the completion of the last comprehensive assignment, a two-week period of revision should be carried out of the whole course using the material in the revision section of the study pack. At the completion of this period, the final Mock Examination paper should be completed under examination conditions. This should be sent to the Distance Learning Administrator to arrive in Nairobi at least five weeks before the date of your sitting the KASNEB Examinations. This paper will be marked and posted back to you within two weeks of receipt by the Distance Learning Administrator. ACKNOWLEDGMENT We gratefully acknowledge permission to quote from the past examination papers of the following bodies: Kenya Accountants and Secretaries National Examination Board (KASNEB); Chartered Institute of Management Accountants (CIMA); Chartered Association of Certified Accountants (ACCA).

Self Leadership Another Way To Achieve Performance Education Essay

Self Leadership Another Way To Achieve Performance Education Essay Abstract In the quest for employee performance organizations seek novel leadership strategies. Self leadership behavioral-focused, natural-reward and constructive-thought strategies provide a sound solution (Houghton, 2006). Research across diverse settings has shown that the practices of effective self-leadership strategies can lead to many benefits including enhanced motivation, positive self-efficacy perception, and improved employee performance (Bandura, 1991). Rooted in social learning theory cognitive evaluation theory, self-leadership is more comprehensive theory of self influence than self-control and self-management theories. A conceptual self leadership frame work for employee performance is also suggested in this paper for organizational application. Keywords: Self-Leadership, Self-leadership Strategies, Self efficacy/Personal mastery, Motivation, Employee performance. Introduction The most influential part in our life that has the ability to support growth than anyone else is our own self. This paper is not about the leadership of others, rather something more fundamental and more powerful i.e. self-leadership. Simply stated leadership is an art of mobilizing others for shared aspirations (Bass, 1995). Leadership is the behavior of an individual when he is directing the activities of a group towards a shared goal (Coons, 1957). Leadership requires using power to influence the thoughts and actions of other people (Zalenik, 1992). Leadership is about articulating visions, embodying values, and creating the environment within which things can be accomplished (Engle, 1986). Leadership is a social process in which one individual influences the behavior of others without the use of threat and violence (Buchannan, 1997). The simplest definition of leadership perhaps is a process of influence between a leader and follower (Hollander, 1978). There are many definitions or descriptions of leadership based on equally vast and differing viewpoints. So in the light of above, Self-Leadership can be described as a process of self influence to navigate own-self for achieving desired outcome (Manz, 1992). In fact, as the opening lines suggest, our greatest latent source of leadership and influence comes not from an external  leader, but from within ourselves. Self Leadership Self-leadership theory is based on self-influence, self-management and self control theories that has recently gained significant popularity and inspiring potential for application in modern organizations. Simply stated, self-leadership is a process through which people influence themselves to achieve the self-direction and self-motivation required to behave and perform in desirable ways (Manz Neck, 1999). Self-leadership is rooted in Social Learning Theory (Bandura, 1977) and Social Cognitive Theory (Bandura, 1986). Social learning theory explains that how people can influence their own cognition, motivation, and behavior (Yun, 2006). On the other side, social cognitive theory explains that there is a continuous interaction between people and their environment (Davidson, 2000) and behavioral outcomes are means of information and motivation (Bandura, 1986). Therefore, how self-leaders think and behave according to cognitive, motivational, and behavioral strategies (Yun, 2006) is explained by Self-Leadership theory. This is a process of self-influence which is facilitated through the use of both behavioral and cognitive strategies. Self-leadership has three distinctive strategies: behavior-focused strategies, natural reward strategies, and constructive thought pattern strategies (Houghton, 2006). Behavior-focused strategies comprises on self goal setting, self observation, self-reward, self punishment and self cueing. These strategies are intended to strengthen positive, desirable behaviors (e.g. Job performance, Team Performance). Behavior-focused strategies are particularly useful in managing behavior related for achieving performance including its unpleasant aspects. Natural-reward strategies focus on tasks that are intrinsically motivating. These strategies can also include the focusing of attention on more satisfying or rewarding aspects of a given job or task rather than on the unpleasant or difficult aspects. Constructive-thought pattern strategies focus on how thinking functional patterns are created and maintained. These strategies include identification and replacement of false self assumptions and irrational beliefs, creating of mental imagery for future successful performance, and positive self talks. Combining all these strategies yields an impressive package of self-influence kit that has a huge potential for organizational application in todays rapidly changing business environment. Self-leadership is a more comprehensive theory of self-influence than both self-control and self-management (Manz, 1986). Self-leadership combines the behavioral strategies suggested by self-management and self-control with cognitive strategies based on the concepts of intrinsic motivation and constructive thinking patterns. Self-leadership is more of a broader concept than both the theories of self-control and self-management. Self-management highlight extrinsic rewards (e.g. monetary rewards, praise, recognition, and self-reinforcement based on external stimuli). But self-leadership goes beyond this viewpoint and focuses on natural rewards. Natural rewards imply that performance of the task or activity is a reward in itself (Manz Neck, 1999). In summary, conceptualization of natural rewards in self-leadership theory is mainly based on the intrinsic motivation literature. Motivation, according to one definition, is an attribute that moves us to do or not to do something (Garrison, Broussard and Gredler, 2004).Motivation refers to the motives underlying behavior (Guay et al., 2010). Motivation can also be defined as voluntary uses of high-level self-regulated learning strategies, such as paying attention, connection, planning and monitoring (Turner, 1995). However Hornby (2000) states that motivation is an incentive to act or move. Research tells that there are two types of motivation, extrinsic and intrinsic. Extrinsic motivation is the result of externally administered motivators including pay, compensation and benefits, material possessions, monetary gains and positive evaluation by others. Intrinsic motivation is that type of motivation that is activated by personal enjoyment, interest, or pleasure (Deci et al, 1999). Intrinsic motivation is derived from within a person and positively effects behavior and performance (Ryan Deci, 2000). Performance refers to the effectiveness of individual behaviors that contributes to organizational objectives (McCloy, Campbell Cudeck, 1994). However Motowidlo (1997) argues that performance is all about behaviors with an evaluative aspect. Self-leadership theory encompasses both intrinsic motivation literature and cognitive evaluation theory (Deci Ryan, 1985).Cognitive evaluation theory advocates that intrinsic motivation is driven by the need for competence (i.e. to exercise and extend ones capabilities) and the need for self-determination (i.e. the need to feel free from pressures such as contingent rewards). Cognitive evaluation theory argued that individuals will try to seek feelings of competence and self-determination by overcoming challenges (deCharms, 1968). Support for the efficacy of intrinsic motivation has been demonstrated in numerous empirical studies (e.g., Deci, Connell, Ryan, 1989; Harackiewicz, 1979; Zhou, 1998). Feelings of competence and self-control (i.e.self-determination) are central part of natural rewards provided by self-leadership theory (Manz Neck, 1999). Through self leadership strategies, activities and tasks can be chosen, structured, or perceived in ways that lead to increased feelings of competence self-determination that in turns enhance task performance. Self leadership theory is very much complementary with self-determination theory (Deci, 1972). Although natural reward strategies are generally effective, self-reward strategies utilizing external rewards may also be helpful (in those situations where natural or intrinsic rewards are not needed) to increase (individual or team) performance (Manz Neck, 1999). At the heart of social cognitive theory lies the concept of Self-efficacy or personal mastery (Bandura, 1986). Self-efficacy talks about persons beliefs regarding his/her capabilities to achieve a specific task (Bandura, 1991). As per cognitive evaluation theory need for competence and self-determinations (Deci Ryan, 1985) leads to more difficult goals selection and increased perceptions of self-efficacy which in turn, leads to higher future performance (Bandura, 1991). Self-leadership theory incorporates all above components of cognitive evaluation theory and social cognitive theory. In short self-leadership strategies mentioned above enhance self-efficacy perceptions, which lead to higher levels of performance (Manz Neck, 1999). Empirical evidence supports the effectiveness of self-leadership strategies in increasing self-efficacy perceptions and performance. More recently, role of self-efficacy as a mediator of the relationship between self-leadership strategies and performance has also been examined indicating significant relationships (Prussia et al., 1998). Positive Perception of self Efficacy or Personal Mastery SUCCESSFUL PERFORMANCE Based on the literature above it can be summarized here that Self-leadership is a process of self-influence based on self-control, self management and self regulation theories. It is also rooted in motivation theories, Social learning theory and cognitive evaluation theory.  Research across diverse settings, from the educational domain to the airline industry, has shown that the practices of effective self-leadership strategies can lead to many benefits including high motivation, self-efficacy, and enhanced employee performance (Bandura, 1991).  As mentioned Self leadership strategies include behavioral-focused, natural-reward and constructive-thought pattern strategies. Taken together these core self-leadership strategies and aligning them to motivation, self efficacy and performance following conceptual frame work (figure.1) is suggested aiming at to achieve successful performance in an organization. This suggested conceptual frame work is modified from the basic model of Self leadership and personal effectiveness proposed by Manz Neck (2007). Figure.1 In the light of the self leadership literature the figure.1 above is suggesting a conceptual framework which implies that applying self-leadership strategies and their components through effective training programs in organization can help in developing self-led employees who can achieve goals like individual, team based or organizational performance through personal mastery. Successful performance leads to positive perception of self efficacy which creates a positive self sufficient upward spiral effect for new successful performance. As per limitation in this paper identifying individuals team based self leadership and team member work role performance was not studied which creates room for future research. Effective self-leadership strategies do not stress independent employee behaviors by ignoring teams or organization context. Rather, effective self-leadership strategies encourage a coordinated effort by individuals to seek their own personal identity and mode of contribution as part of a group, teams or organization that produces synergistic performance (Konradt; Andreßen; Ellwart, 2009). Furthermore, self-leaders are less likely to be resistant to organizational change (Neck, 1996) which is important for any learning organization as it responds and adapt to changing environment. As organizations continue to redesign and adopt structures that need a greater dependence on individual initiative, the popularity of self-leadership concepts is likely to remain strong. Finally, self-leadership behavior shaping strategies provide considerable assurance for taking the quest for employee performance to the next higher level. Indeed, effectively trained self-led employees, both behaviorally and cognitively, may offer the best blueprint for achieving employee and organizational performance in the 21st century.

The legal capacity

The legal capacity CAPACITY TO CONTRACT Legal capacity is defined as the power provided under law to a natural person or juridical person to enter into binding contracts, and to sue and be sued in its own name. In order to be bound by a contract, a person must have the legal ability to form a contract in the first place. This legal ability is called capacity to contract. Both parties in a contract must have the necessary mental capacity to understand what they are doing. Under common law anyone has the right to enter into a contract, except for minors, people with mental disability and also people who are under the influence of drugs or alcohol. For a person to avoid a contract on the ground of their incapacity, they must also show that they lacked capacity to enter into a contract and that the other party knew or ought to have known their incapacity. A person who is unable, due to age or mental impairment, to understand what she is doing when she signs a contract may lack capacity to contract. For example, a person under legal guardianship due to a mental defect completely lacks the capacity to contract. Any contract signed by that person is void. In other situations, a person may not completely lack the capacity to contract. The contract would then be voidable at the option of the party claiming incapacity, if he or she is able to prove the incapacity. INFANCY The term infant differ from the term minor. In most cases, legal contracts are voidable if one of the contracting party is a minor. The law states that an infant is not bound by the contracts he or she enters into except for the purchase of necessaries and for useful contracts of service, that is they would have to pay for the necessary goods and services that they consume. However, it is stated in the British Columbia Infants Act (RSBC 1996 c.223) that all contracts cannot be implemented against an infant, regardless of whether it includes necessities and beneficial contracts of service. If there is a contract between an adult and an infant, adults are bound but infants can break away from the contract at their option, which means that the contract is voidable. The infants may endorse a contract once they have reached a maturity age. In the case of executed contract, the infant cannot avoid debt if they have obtained advantages under the contract, except if what they obtained has no value. Any one of the party can apply to the court upon the termination of contract. MINORS A minor generally cannot form an enforceable contract. A contract entered into by a minor may be canceled by the minor or by his or her guardian. After reaching the age of majority (18 in most states), a person still has a reasonable period of time to cancel a contract entered into as a minor. If, however, he or she does not cancel the contract within a reasonable period of time, the contract will be considered ratified, making it binding and enforceable. If you intend to enter into a contract with a person who is under the age of 18 years it is essential that you give that person the opportunity to consult with a suitable adult about their rights and responsibilities before concluding the deal. This will make it less likely for a dispute to arise about their capacity.A young person is generally bound to a contract for necessaries which includes food, medicine and clothing. Contracts for necessaries can also include contracts for education or employment. However, some other contract s will not be binding on a young person, including contracts for goods or services which are not necessaries and credit contracts. Based on the case study, John has the age capacity to enter into a contract as he is an adult. He was walking alone around SOGO Shopping Complex to do some window shopping. His age has got to be above 18 years old. This is because he is working, and this is illustrated in the sentence as I was very busy with my work, I only managed to go to the shop a week later. Case example: Nash v. Inman [1908] 2 KB 1 The defendant, a minor, purchased a number of waistcoats from the plaintiff. The issue was whether they were necessaries. The court held that the waistcoats were not necessaries as the minor had an adequate supply at the time of sale. It was held that two conditions had to be met before goods or services would be regarded as necessaries. First, the goods or services had to be suitable to the condition in life of the minor (e.g. a minor accustomed to living a life of luxury will have a different condition in life from a minor living in impoverished circumstances). Whether this was the case would depend on the type of lifestyle the minor in question was accustomed to leading. Second, the goods or services had to be suitable to the minors actual requirements at the time of supply. If the minor had an adequate supply of the relevant goods from another source, this requirement would not be satisfied. MENTAL DISABILITY In 1954 the High Court dealt with the issue of a persons soundness of mind when involved in contractual dealings. The court held that it requires, in relation to each particular matter or piece of business transacted, that each party shall have such soundness of mind as to be capable of understanding the general nature of what he is doing by his participation (Gibbons v. Wright (1954) 91 CLR 423).It follows that if a person is so drunk, mentally ill or senile that they have no idea that they are involving themselves in a contract, they will lack the necessary contractual capacity. If however, their mind is affected by their problem, but they are nevertheless aware that they are involving themselves in a contract, the capacity to contract will probably exist unless the other party deliberately takes advantage of their weakness. (This is linked to the way in which the common law and equity deal with unconscionable conduct where a person takes advantage of a person with a disability). Contracts with intellectually impaired persons is void. Similarly, contracts with involuntary mental patients is void. Some types of mental disability may be sufficient to allow a person to repudiate a contract in certain circumstances. Generally, the law is concerned with the lack of capacity arising from mental disability. For example, people who have schizophrenia may have delusions, but if they can manage their own daily and business affairs and look after their personal finances, they may have the capacity to enter into contracts. The mentally disabled persons that the law protects are those who are unable to manage their own affairs or are unable to appreciate the nature and consequences of their actions. Provincial legislation provides that a person can be declared to be unable to manage his or her affairs. If there has been such a judicial finding, contracts made after the judicial finding are void on the grounds that there is a lack of capacity to consent to the provisions of a contract. Contracts made prior to the finding may be voidable. However, if a person lacks capacity because he or she is unable to handle his or her affairs, but there has been no judicial finding, the contracts made are voidable at the option of the person who is mentally disabled. If the contracts are not repudiated, they are presumed to be enforceable. Case example: York Glass Co. Ltd v. Jubb [1925] All ER Rep 285 Jubb contracted to purchase the plaintiffs company business. On the date of contracting, he was technically insane and shortly thereafter was placed in a lunatic asylum. The receiver of his estate, who was appointed under a lunacy statute, repudiated the contract. The plaintiff company sued for damages, alleging the repudiation was wrongful. The court held that a contract entered by someone of unsound mind is valid unless the impaired person can show that the other party was aware, at the time of contracting, that the impaired person was so insane that he was incapable of understanding what he was doing. In this case, there was no evidence to show that the plaintiff company knew or suspected that Jubb had been insane at the point of contracting. The contract was valid and Jubbs estate had to pay damages for not performing the contract. UNDER THE INFLUENCE OF DRUGS OR ALCOHOL If a person signs a contract while drunk or under the influence of drugs, can that contract be enforced? Courts are usually not very sympathetic to people who claim they were intoxicated when they signed a contract. Generally a court will only allow the contract to be avoided if the other party to the contract knew about the intoxication and took advantage of the intoxicated person, or if the person was somehow involuntarily intoxicated (e.g. someone spiked the punch). The law will intervene in some circumstances where someone who is intoxicated enters into an agreement. Intoxication alone is not sufficient, but it can be a defence to enforcement by the sober party, and the intoxicated party may void the contract on the basis of his or her own intoxication in the following circumstances, that is firstly, the intoxicated party, because of the intoxication, did not know what he or she was doing. Secondly, the sober party was aware of the intoxicated state of the other party. Thirdly, u pon becoming sober, the intoxicated party moved promptly to repudiate the contract. The basis for this approach is not that one party is drunk but that the other party might defraud the drunkard. Thus, even where the sober party is not aware of the intoxicated state of the other party, if there is evidence of intoxication so that it may be presumed, the unfairness or one-sidedness of a contract might result in its being voided. This view moves the law toward a position that an unconscionable agreement permits the court to presume that the sober party had knowledge of the intoxication of the other party once there is evidence of intoxication. Based on the case study, when John bargained for the 6 seater dining set, he was not under the influence of alcohol or drugs. He was well aware of the bargain and he realised that he has entered into an agreement with Comfortable Furniture Sdn Bhd. Case example: Matthews v. Baxter (1873) LR 8 Exch 132 Baxter, while drunk, agreed at an auction to purchase a property. Once sobriety returned he decided that he wished to affirm the contract that had been made by him while drunk. Sometime later he had a change of mind and he sought to rescind the contract, arguing that he lacked capacity to enter the contract by reason of intoxication. The court held that because Baxter had confirmed the contract it was no longer open to him to avoid the contract on the grounds of intoxication. This was despite the fact that he had made out the necessary element of this defence. BANKRUPTCY Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. These individuals would not be able to pay their debts and lose their status as creditworthy. Most states differ on the means whereby their outstanding liabilities can be treated as discharged and on the precise extent of the limits that are placed on their capacities during this time. However, they are returned to full capacity after discharge. In the United States, some states have spendthrift laws where an irresponsible spender is claimed to lack the capacity to enter into contracts. Based on the case study, Comfortable Furniture Sdn Bhd has the business capacity to operate its business. This is because the company is not facing bankruptcy. Therefore, the company has the capacity to enter into a contract or agreement with John. SIGNIFICANCE WHY CONTRACTING PARTIES REQUIRE LEGAL CAPACITY TO ENTER INTO LEGALLY BINDING CONTRACT Not everyone is legally entitled to enter into contracts. Some persons, by their status, are presumed not to have the ability to enter into contracts or have limited rights to contract. Prevention of fraud provides for formality requirements and the protection of persons who lack full capacity to enter into contracts. If there is no capacity, the incapacity party would become vulnerable and weak. If one party lacks the intellectual capacity to protect himself or herself, then the other party may act dishonestly during the bargaining process or takes advantage of a position of trust, or if the other party has expert knowledge of the subject matter of the contract that the weaker party cannot have and takes unfair advantage of that knowledge. Besides that, without capacity, the contract would be void. A contract is void when it involves minors. This type of contract will have no effect as it is not recognised by the court and parliament. Therefore, if there is no capacity, the contract would not be enforceable. The purpose here is to protect the weaker party from the stronger and more able party. This class of persons who lack or have limited capacity to contract include minor and persons under mental disability. The general rule is that minors may not enter into contracts. The reason for this rule is that minors are presumed to be naive, inexperienced, and easily taken advantage of. So, some protection is required to avoid them from being cheated. The law also interferes in circumstances where someone who is intoxicated enters into an agreement. The basis for this approach is not that one party is drunk but that the other party might defraud the drunkard. The contract may not be legal if there is no capacity. If there is no capacity, people with mental disability, minors, and also those who are under the influence of alcohol or drugs would be allowed to enter into contracts. The people who have mental disability and under the influence of drugs or alcohol do not have the mental capacity to enter into contracts. They are unable to think well and they are not able to make a wise decision. So, if there is no capacity, the contract will lose its validity. Case example: Mercantile Union Guarantee Corporation v Ball (1937) An infant haulage contractor who took a lorry on hire-purchase was held not liable for arrears of installments. Case example: Cowern v Nield (1912) It was held that a minor who was a hay and straw merchant was not liable to repay the price of the goods which he failed to deliver. Case example: Doyle v White City Stadium (1935) An infant boxer was held bound by a clause in his contract which provided for forfeiture of his prize money (as happened) he was disqualified. The contract as a whole was similar to apprenticeship. Case example: Valentini v Canali (1889) A minor leased a house and agreed to buy some furniture, paying part of the price. After several months the minor left, and avoided the contract as he was entitled to do. He could not recover the payments which he made for the furniture, however, because he had received some benefit from the contract. Case example: Leslie Ltd v Sheill A minor who lied about his age to obtain a loan could only be forced to return the cash he borrowed.Sheill failed to repay two cash loans he had obtained by falsely claiming to be an adult. The contract was not enforceable (not for necessaries) so the lender asked for restitution of the money on other grounds, including that Sheill had committed the tort of deceit (fraudulent misrepresentation). The English Court of the Kings Bench held that Sheill could not be sued for deceit because that would make a minor indirectly liable for an unenforceable contract. The court could only order restitution if the lender could prove Sheill still possessed the actual notes and coins he had borrowed. Case example: Roberts v Gray (1919) Roberts agreed to take Gray, a minor, on a billiard tour to instruct him in the profession of billiard player. Gray repudiated the contract. The court held that Roberts could recover damages despite the fact that the contract was executory. Case example: Scarborough v Sturzaker A bicycle was a necessary because the minor had only one and used it to travel to work. Sturzaker, a minor, cycled 19 kilometres to work each day. He traded in his old bicycle to Scarborough and made a part payment on a new one. Sturzaker repudiated the contract and refused topay the outstanding amount. The Tasmanian Court held that the bike was a necessary. Therefore, the contract was enforceable and Sturzaker had to pay the money owing. Case example: Hart v OConnor The Privy Council said in Hart v. OConnor(1985) that an insane person who appears sane can rely on the independent and separate ground of unconscionability which relieves abnormal mental weaknesses even short of incapacity. Undue influence may also apply. Case example: Peters v Fleming (1840) Held an expensive gold watch chain was a necessary for a rich young man. Point of law being that it depends on the status of the minor as to whether a luxurious item is deemed a necessary. Case example: Chaplin v Leslie Frewin (1966) Contract was made to write the autobiography of Charlie Chaplin held as binding as it allowed a minor to start to earn a living as an author.However if on the whole a contract is unreasonable, oppressive and not beneficial then it will not be binding. Case example: De Francesco v Barnum (1890) A girl of fourteen was apprenticed to D for seven years in order to learn to dance. D was not obliged to maintain her, nor did he have to pay her unless he found engagements for her. Even when engagements were found, the rate of pay was very low. She could not obtain engagements for herself, nor was she allowed to marry, during the seven years. It was held that the contract was not binding upon the girl, as it was unreasonable, oppressive and not beneficial to her. Point of law is as above. Case example: Gore v Gibson Advanced the view that a contract for necessaries supplied to a drunk could not be maintained if upon sobriety the contract was repudiated. Case example: Hawkins v Bone The action for breach of contract was brought by the vendor of land which was knocked down to the defendant at an action. The defendant purchaser pleaded in defence of his drunkenness but did not allege that the vendor or auctioneer knew of this condition. Pollock C.B., in directing the jury said the plaintiff was entitled to the verdict: unless the defendant was in the state he describes himself to have been, that is wholly incapable of any reflective or deliberate act, so that, in fact, he was utterly unconscious of the nature of the acts he did, for example, having signed the contract and paid his money. Case example: McLaughlin v Daily Telegraph Ltd Holds that a power of attorney executed by a person while insane is void even in respect of actions that take place when the grantor has recovered his sanity; the actions that take place under the guise of the power of attorney are of no effect. Likewise, it is of no consequence that third parties act on the foot of the deed. If, however, the power of attorney enables the lunatic and his dependants to benefit from obtaining a supply of necessaries, an account may be ordered in relation thereto even though the power of attorney itself is void. For the deed to be void, however, it must be shown that the signature is a mere mechanical act and the mind of the signor must not accompany the act. Case example: Cf. Imperial Loan Co. v. Stone [1892] the rule had in modern times been relaxed, and unsoundness of mind would now be a good defence to an action upon a contract, if it could be shown that the defendant was not of the capacity to contract and the plaintiff knew it. Case example: Seaver v. Phelps which was trover for a promissory note, pledged by the plaintiff while insane, to the defendant, the Court were, on behalf of the latter, requested to charge, that although the plaintiff might have been insane at the time of making the contract, yet that if the defendant were not apprised of that fact, or had no reason, from the conduct of the plaintiff or from any other source 380 was held entitled to a decree of foreclosure. It seems equally clear that he is not liable when the other to suspect it, and did not overreach or impose upon him, or practice any fraud or unfairness, the contract could not be annulled. Case example: Beals v. See. it was held that the administrator of a lunatic could not, in the absence of fraud or knowledge of his state of mind, or such conduct on the part of the lunatic from which his disease might fairly be inferred or suspected, recover back the price of merchandise sold to him, even though it was unsuited to the object for which it was purchased, and above market price.

Impact of technology :: essays research papers

Impact of Technology & Ethical Decision Making The decision making process will always present ethical challenges to managers. Is this the right thing to do? This question is the center of the ethical dilemma for any one who is a decision maker in corporations through out the world. A collection of many factors will be taken in consideration in answering to this question. Is it right for the company? Is it right for me? There are many ways to approach the ethical subject, and different ethical values may and can come from different approaches like in the way a decision can be evaluated is dependent on the values and interests of the person or group of people evaluating that decision. For example some stakeholders in some companies will not care that much if the decision was made based on ethical values counting it generated the results they expected. This is where the risk lies, because the decision maker will also have this mind when deciding about the subject, depending on how much he or she may over look some ethical issues in lieu that a good outcome or good earnings can come through. The ground rules about which a decision maker will care are highly dependent on the moral approach. The decision maker may use a self interest or material approach and decision that will be directed towards his or her own benefit these decisions can sometimes cause good results for the company even if the decision maker has only the self- interest in mind. It is not rare that a manager will make decisions using this approach. A different approach may be used and decision happens based on the actual number of people benefited by it. Usually this utilitarian approach takes into consideration the consequences of a decision as a method for evaluating it is morality.

Memoirs Of An Invisible Man :: essays research papers

Memoirs of an Invisible Man   Ã‚  Ã‚  Ã‚  Ã‚  After being caught in a freak industrial accident in New Jersey, Nicholas Haloway decides to try to survive after the accident rendered him absolutely invisible. Soon he learns that no one must know of his invisibilty. Soon afterwards, the army starts searching for him because they feel that his invisibility would be extremely useful in Intillegence missions.   Ã‚  Ã‚  Ã‚  Ã‚  Headed by David Jenkens, the project soon invades his apartment, forcing him to leave and find a new place in the city to stay. When he decides to stay at his club, he establishes a daily routine where he accomplishes the task of finding food and sustaining himself in the club. Every day that passes, Nick begins to feel that the government is closer, a few weeks later, David Jenkins shows up at his club and starts to install special doors that would prevent his escape. Nick is now faced with a difficult situation, he has to leave the club, but he also has to leave what has become almost like a home for him.   Ã‚  Ã‚  Ã‚  Ã‚  As he finds another club to settle in, Jenkens shows up and begins to raid that club as well. Now Nick is convinced that Jenkens is going to capture him unless he finds a more valid hiding place. Soon Nick begins to search out empty apartments in Manhattan, but finds that Jenkens has once again started to raid empty apartments.   Ã‚  Ã‚  Ã‚  Ã‚  Nick knows that for his survival, he needs to find a way to keep him financially healthy and have a permanent home that would be almost impossible for Jenkens to trace. Upon arrival at an empty apartment, Nick notices the name on one of the Envelopes, Johnothan R, Crosby. Nick also finds out that the Crosbys live in another country most of the time and their apartment would suit him fine for the temporary time being. First, to prevent Jenkens from finding him, he follow one of Jenken’s men to the office where the headquaters of the investigation are housed, he then burn up most of the papers in the office so that the investigation would lose every thing that they had found.   Ã‚  Ã‚  Ã‚  Ã‚  After knowing that it would be difficult for Jenkens to locate him now, he settles down and creates a stock porfolio with a broker. Knowing that it would be almost impossible to for him to guarentee that he would make enough money on the stock market, he devises a plan to secretly spy on people and find secrets of certain markets and places money on the winning stocks.