Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 10Q
a)
Summary Introduction
To discuss: Whether person X will accept the proposal if his agent ask for $150,000 to grease the skids.
b)
Summary Introduction
To discuss: The actions of person X if he say no to proposal, then vice president provides the money.
c)
Summary Introduction
To determine: Whether person X will strengthen their business by exchanging the currencies in grey market.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
You are the Director of Contracts at the Ministry of Energy. The contract for South Coast Drilling for oil and other minerals will be advertised in 3 months. Drilling will be during the Christmas season. One of
the Oil and Gas Companies on the island, sent a hamper of expensive goodies personally addressed to you at the office. Supported by the reading and the theories, what two actions might you want to take
and why?
apply the scenario to an Entertainment Management contract found within the public domain (e.g. on the internet), the contract must be referenced.
Scenario 1: Hot Steppa is a 13 year old up and coming dancehall artiste who has been making major waves on the local dancehall scene. Hot Steppa has been making the rounds on the local entertainment tv show circuit and has been getting steady airplays on radio. However, Hot Steppa has been largely overlooked by major promoters for stage show booking and other more lucrative events. Hot Steppa has approached YOU an established Entertainment Management professional in an effort to break into the stage show segment.
question
Outline of what you are proposing to do for the client
You have recently prepared and submitted a Tk.150 million bid to win a construction contract to build a supermall in Cox’s Bazaar for Lucifer Group of Industries. Your bid is the most comprehensive and lowest in terms of cost. The Lucifer Manager for the project also appreciates the bid and is positive about giving the job to your company. However, the Lucifer manager has asked you to raise the bid by Tk.15 million which would be split three ways equally between you, the Lucifer manager, and the Vice President of Lucifer. You, being a person of strong ethics and integrity, in a serious dilemma as to what to do.
Suggest three alternatives to respond to the issue ahead of you and explain which of these alternatives you would select and why.
Knowledge Booster
Similar questions
- Suppose you are a director of a scholarship program “Federal Student Aid” that provides funded scholarships to intelligent yet needy students. Recently, you received an application from Hamza Iftikhar, a student who is desirous of getting financial assistance. Unfortunately, he could not qualify for the scholarship. Write a rejection letter stating reasons and suggesting alternatives to maintain goodwill.arrow_forwardEach of the given statements may fit into one of the three categories: perfect price discrimination; imperfect price discrimination; or bundling. Place each statement according to the business practice it describes, if any. Bundling Perfect Price Discrimination Answer Bank Microsoft offers student discounts for its computer software products. Non-students pay higher prices. Imperfect Price Discrimination Customers of the Charter Cable company who want to watch HBO channels must subscribe to a premium channel package that includes HBO, Cinemax and Showtime channels. To use a Remington brand shaver, you must purchase a cutter blade that is sold separately from the shaver and is only sold by the Remington company Kohl's department store offers a 15% discount every Wednesday to senior citizens. At an auction of American art, every buyer ends up bidding and paying a price equal to the maximum amount that she or he is willing to pay.arrow_forwardNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. Explain what’s wrong A friend of yours submitted a project proposal to the Canadian government, and was rejected. When you asked them why, this is what they answered: “They said the project identification was wrong. They said I had to include infrastructure, and that my alternatives were too limited. That doesn’t make any sense! I want to build a high-tech computer factory in the Yukon. I’m doing it for the money, of course, but to get the government to buy in I’m saying the objective is to create jobs up north. So for my alternatives, I’ve run the numbers for half a dozen different types of high tech computer factories, plus the one I actually want to build. That should be enough, right? And I don’t see why I need to include infrastructure. The government’s responsible for roads and electricity and stuff. I don’t have anything to do with that.”arrow_forward
- Considering that you are working as a member of a construction project team of a big mall in Muscat. Your company is responsible for the site construction process of the mall. As the owner [client] of this construction project is out of the country most of the time, the client specified the requirements to the contractor, and the client would like to give the total responsibility to the contractor without any involvement in the design, manufacturing, and construction of the project. The contract strategy describes that the contractor is responsible for all of the work required. Therefore, the contractor should design, procure all parts and materials, assemble, and construct the project and handover the project to the client for operation afterward.Before the start of the work, an agreement shall be made between the client and the contractor mentioning the total cost of the project, duration and special conditions. The contractor must strictly follow mutually agreed standard form of…arrow_forwardBill Lewis, manager of the Thomas Electronics Division, called a meeting with his controller, Brindon Peterson, and his marketing manager, Patty Fritz. The following is a transcript of the conversation that took place during the meeting: Bill: Brindon, the variable costing system that you developed has proved to be a big plus for our division. Our success in winning bids has increased, and as a result our revenues have increased by 25%. However, if we intend to meet this year’s profit targets, we are going to need something extra—am I right, Patty? Patty: Absolutely. While we have been able to win more bids, we still are losing too many, particularly to our major competitor, Kilborn Electronics. If we knew more about their bidding strategy, we could be more successful at competing with them. Brindon: Would knowing their variable costs help? Patty: Certainly. It would give me their minimum price. With that knowledge, I’m sure that we could find a way to beat them on several jobs,…arrow_forwardYou should post an email (you will be writing as one of the two parties in the scenario below) reaching out to start a negotiation. Senario: This two-party, email-based, multi-issue issue negotiation deals with a dispute between neighbors over one sharing their home on a home-sharing website, and having difficult conversations in relationships with low trust. A resident of the picturesque town of Pottenstein, Germany is frustrated with their neighbor’s listing of their home as a property on the popular home-sharing site, HomeBNB, due to the prevalence of large parties, noise pollution, and the general disruption of the formerly quiet neighborhood. M. Schmidt, a branch manager of a local bank, reaches out via email to their next-door neighbor, D. Harberer, about the use of their home on the popular home-sharing site, HomeBNB. Schmidt has grown increasingly frustrated by the prevalence of frequent large groups of rock climbers, who party and play music late into the night. Schmidt and…arrow_forward
- Mr. Albert Richardson, a financial advisor at NNW Investments identified two companies that are likely candidates for a takeover in the near future. East End Cable is a leading manufacturer of flexible cable systems used in the construction industry, and CampSwitch is a new firm specializing in digital switching systems. East End Cable is currently trading at $40 per share, and CampSwitch is currently trading at $25 per share. If the takeovers occur, Mr. Richardson estimates that the price of East End Cable will go to $55 per share and CampSwitch will go to $43 per share. At this point in time, Mr. Richardson has identified CampSwitch as the higher-risk alternative. Assume that a client has indicated a willingness to invest a maximum of $50,000.00 in the two companies. The client wants to invest at least $15,000.00 in East End Cable and at least 10,000.00 in CampSwitch. Because of the high risk associated with CampSwitch, Mr. Richardson has recommended that at most $25,000.00 should be…arrow_forward17.4 Assume you are the cost engineer on a new $12 million commercial building project. Starting with your company’s standard cost code, explain how you would develop a project cost code for this job. Be sure the differences in purpose and content between these two types of cost code are clear in your explanation. Specify any additional information that may be needed to draw up the project cost code.arrow_forwardRich contracted to hold the annual retreat of his company in Tampa, Florida. Which of the following is an example of a force majeure event? C C C a. The weekend of the conference, Rich became very ill and had to be hospitalized. b. The weekend of the conference, Rich's entire management team quit. The weekend of the conference, there was a major tropical storm. d. The weekend of the conference, Rich discovered a cheaper rate at a nearby hotel. C.arrow_forward
- Opening case FAMAGUSTA, Inc. (a fictitious name) is a large, non-US-based multinational corporation (MNC) that has set up its new office in Manila. With the help of a few previous connections and more than a little good fortune, you land your first contract within a relatively short period of time. The job involves providing professional consultation and technical support on a joint ven- ture project with a local corporation. You will be working in the offices of the Philippine company, scoping and designing the project, managing the implementation phase, and working with their domestic personnel to get the job done. Your contract specifies an interim review after the design phase is international Business completed, but top management assures you that it is just a formality—they definitely want to work with you for the whole project. You review the facilities and résumés of both management and technical staff and every- thing looks fine. No problem, you tell yourself as you tackle…arrow_forwardAnalyze the reactions according to the situation proposed in: Very Effective, Effective, Reasonably effective, Little Effective, Ineffective or Counterproductive: You are in an important meeting with your company manager and board members. During the meeting, when presenting numbers related to the project in your area, you realize that some estimates are wrong and that lead to conclusions different from those that your area would like to show. You believe that he must have misinterpreted some information previously sent by one of your colleagues. You: Stop the presentation to inform the group that the estimates are incorrect and that you can pass the correct ones at the end of the meeting. A- Very Effective B- Effective C- Reasonably effective D- Little Effective E- Ineffective F- Counterproductive You: Wait until the end of the meeting to notify your manager that the estimates were wrong and offer to send the correct ones to people by email. A- Very Effective B- Effective C-…arrow_forward3. Why might a sponsor find it economically convenient to refinance loans once the construction phase for the project in question has been successfully completed? a) to cut down on the length of the project at hand so as to move on to new ones. b) to reduce the severity of certain covenants. c) to modify the characteristics of the underlying project. d) to modify the loan agreement.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill Education
Management (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSON
Business Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSON
Fundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON