Business Law Questions Essay Example | Topics and Well Written Essays - 2000 words

Business Law Questions - Essay Example The law of agency can be construed by a sharp attorney representing a plaintiff to support a transfer the ownership of a property in question to the agent in a similar way as alter ego theories. Basically, the agency law in PCV situations involves an array of agreements that bring together the agent, and the principal in which case the former becomes mandated under the law to assume the responsibilities of the latter to formalize a legitimate agreement to work with a third party (Steinberg, 2012). Under such a scenario, the agent automatically assumes the principal’s role, thus can enter into business deals and negotiation with third parties. According to Steinberg (2012), the agency law guides the operation of agents and the third parties whom they have business dealings with; and provides for principals to play a second fiddle to the agents when the latter acts on their behalf. The reciprocal privileges and responsibility between signatory parties to a contract mirrors business and legal practicalities. A business proprietor usually relies on a worker or another individual to operate an enterprise. When dealing with a corporation, which generally is a conjured legal entity, human agents take precedence. In such a case the principal is required by the law, through the agreement signed by the agent to play a second fiddle in the running of the business or being held responsible in case of any liability. An agent’s lawyer can therefore argue that the law grants the agent sweeping powers to execute his or her role within the jurisdiction of the organization to exercise his or her will. When an agent legally assumes c ontrol of the business, a third party may entrust his or her details and deals with the agent and enter into an agreement with the principal’s representative if he or she introduces himself so (Brams, 1999). And owing to the technicalities witnessed by those who would want to corroborate the identity and or authority of the agent, most of third parties often show willingness to work with the agent and disregard any other party regardless of their superiority. It is in such a scenario, the corporation can be deemed as the â€Å"alter ego† of the agent. Agency powers The law of agency provides the agent with three legal milestones that whoever occupies the position can tacitly exploit to his or her advantage. First, the agency enjoys actual authority. Actual authority which is enjoyed by the plaintiff often arises in two ways: either where the principal expressly confers power on the agent, or where the authority is implied (Brams, 1999). Authority is a product of consen sus, and its implementation is usually based on fact. Therefore, the law of agency grants the agent protection from the principal, especially where the former has acted within the agency’s mandate, as provided for under implied powers. Secondly, implied actual authority, or the usual authority, refers to powers that an agent enjoys by virtue of being fairly necessary to exercise his or her express authority. Implied actual authority can be assumed by the agent owing to his or her role as the principal’s proxy (Steinberg, 2012). In a nutshell, in any case the agent makes a decision regarding the business they have assumed control of, the decision is deemed binding and the principal will be expected to comply with the agent’s move. Such a scenario makes the property in the hands of the agent an alter ego of himself or herself. Question 2: Hypothetically, starting from a blank state legislative slate, the only form of business organization that would be needed toda y would be the Limited Liability Company form. Analyze and critique this statement. A limited liability company (LLC), is a corporate structure that

Training and Development Bachelor Essay Example | Topics and Well Written Essays - 2500 words

Training and Development Bachelor - Essay Example That was how it all started. The place did undergo some change towards the end of the second generation Hank's tenure. This was more out of necessity to survive, thrive and make it a source of living while facing intense competition from the mushroomed pizza corporate. They opened one more store in the town, introduced contemporary and extremely upbeat customer seating facilities; added washrooms modernized the kitchen with the state-of-art equipment, introduced computerization, and changed the lighting and created an ambience which is ideal for an excellent meal. The upgrade Hank's pizza store could give any pizza corporate outlet a run for its money. The third generation Hank joined the father after finishing an MBA. His first setout was a mission for the business. The mission is to be the first and the only eat out choice of the town and also expanded the number of outlets from two to six, business multiplied four times over a period of six years and there seemed no looking back for the Hank's pizza store. But still something bothered the junior most Hank and he constantly felt that there were losing out business to other pizza chains stores. Hank with his latest management knowledge did try and put an effort to figure out what was amiss with the business while managing the operations of the business. Good amount of time was spent balancing the cash books, ensuring there were no stock outs and creating innovative marketing plans to increase pitfalls and ensure return customers. But still there was something amiss. To identify the problem and find solution for it, Hank III hired a management consultant and gave a free rein to them to identify the problem. On studying Hank IIIs style of functioning, it became evident that Hank III was looking at the business from the operations perspective and not from the customers' perspective. The consultants deputed mystery customers to identify and rate customer experiences at various store locations. The consultants, after a four week study identified that the customers were comfortable going to a specific store and undertook focus group studies to identify the reasons thereof. (Keer ti) Focus Group Studies - What are they Focus group is a form of qualitative research. In this method of research a group of people are asked about a product of an idea from their individual perspective focusing on various attributes. (Wikipedia) A great deal of information can be achieved by conducting focus group studies. (Free Management Library) They came up with an astonishing fact which did not strike Hank III till then which was that the customer experiences were not uniform across the six stores and the expectations built at each store of the next possible experience was different and hence the strong customer location loyalty was being built which was good for an individual store but harmful overall to the business. To arrest this trend the consultants recommended that there be training department set up and train the different categories of staff so that the Hank's Pizza store delivered uniform customer experiences and WOW at all store locations and they identified the following training programs be conducted as a pre-cursive before embarking on a new marketing initiative. 1. The customer promise 2. Managing Customer experience 3. Customer orientation 4. Service orientation 5. Service with a