International Business and Globalization - 1496 Words

Globalization encourages worldwide business. Globalization is an efficient process by which all the nations of world will commonly try to set regular universal standards regulations (both created recommended) which will encourage business around different nations. Business around nations or elements crosswise over different fringes is called universal business. Economic globalization The expression globalization is generally utilized as a part of business rings and matters of trade and profit to depict the expanding internationalization of businesses for merchandise and administrations, the budgetary framework, companies and commercial ventures, innovation, and rivalry. In the globalized economy, partitions and national†¦show more content†¦Consequently, numerous firms in creating nations look further bolstering reinforce their good fortune by gaining practical experience in separated items with an undeniably vast innovative substance. Such specialization has offered ascent to intra-industry exchange between creating nations. Abandoned activities are often acquired by other firms in the same industry to strengthen their positions. As a result, many firms, in all commercial enterprises and distinctive nations, make co-agent understandings or receive procedures of mergers and acquisitions and system associations, which has helped a surge in FDI throughout late decades. In addition, the privatization of open undertakings over the world has likewise cross-border investments 2. GLOBALIZATION OF COMPETITION This alludes to the escalation of rivalry around business endeavours on a global scale. Such globalization of rivalry has brought about the development of new vital transnational organizations together around organizations over the world. Increasingly, more firms need to rival new players from around the globe in their business sectors and outside ones. To adapt to worldwide rivalry, firms need to simultaneously harness their skills and generate synergy by a broad range of specialized skills, such as technological, financial, industrial, commercial, cultural, and administrative skills,Show MoreRelatedGlobalization And International Business : Globalization954 Words   |  4 PagesMonica Mall 3/11/15 India Intro Globalization/ International Business In the text International Business, globalization is defined as the â€Å"acceleration and extension of the interdependence of economic and business activities across national boundaries (p 3)†. Many multinational corporations manufacture products in different nations and selling internationally to different nations. With the constant flow of goods and service help the integration of economies and societies. SinceRead MoreInternational Business Globalization4876 Words   |  20 Pages  89)  People who violate folkways are considered to be evil or bad.      Difficulty: Medium    7.  (p.  90)  Folkways include rituals and symbolic behavior.      Difficulty: Medium    8.  (p.  90)  The bow that is given by a Japanese business executive to another business executive is an example of symbolic behavior.      Difficulty: Medium    9.  (p.  90)  Mores have much greater significance than folkways.      Difficulty: Medium    10.  (p.  91)  If a country is characterized as havingRead MoreInternational Business : The Challenges Of Globalization963 Words   |  4 Pages Globalization nowadays is a very popular topic. With the rapid development of the economy, services and commercials trade between countries become more and more convent. The world becomes more and more like a global village. At the same time, it begins to have a deep influence on a company’s strategy plan which manager is involved in an international business market. In International Business: The Challenges of Globalization, I interested in PART 5 Chapter 2 Cross-Cultural Business. In my perviousRead MoreReflect of Globalization on International Business1485 Words   |  6 PagesGlobalization refers to the increasing unification of the worlds economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by efficiencies catalyzed by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportationRead MoreImpact Of Globalization On International Business828 Words   |  4 PagesGlobalization has influenced the way our world works today. This is the process of international business. Many of the items we are using at this very moment are imports, products produced in another country. Many businesses today rely on exports, products produced in their home country and shipped to other nations. Every country relies on imports and exports. Wether a firm is expanding to another nation or uses imported goods, international business is always involved and will affect the businessRead MoreImpact Of Globalization On International Business2183 Words   |  9 PagesWHAT IS GLOBALIZATION Fundamentally, globalization is the closer integration of countries and peoples of the world which has been brought about by the enormous reductions of costs of transport and communications and the breaking down of artificial barriers to the flow of goods, services, capital, knowledge and to a lesser extent. Globalization is an umbrella term for a complex series of economic, social, technological, cultural and political changes seen as increasing interdependence, integrationRead MoreImpact Of Globalization On International Business2183 Words   |  9 PagesWHAT IS GLOBALIZATION Fundamentally, globalization is the closer integration of countries and peoples of the world which has been brought about by the enormous reductions of costs of transport and communications and the breaking down of artificial barriers to the flow of goods, services, capital, knowledge and to a lesser extent. Globalization is an umbrella term for a complex series of economic, social, technological, cultural and political changes seen as increasing interdependence, integrationRead MoreGlobalization And Terms Of International Business1756 Words   |  8 Pagesis globalization in terms of international business? Give a practical example using class source. Answer: Globalisation refers to the integration of world economy into a single economy. For example product, services, culture, communication etc. In the current business era the word Global Village is much highlighted, it is only because of the Globalisation. Globalisation not only increased the flow of international business but also has great impact on cultural change. International business refersRead MoreGlobalization and Its Impact on International Business Essay1558 Words   |  7 Pages............3 What is Globalization....................................................4 The engines for Globalizations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦5 Globalization’s impacts on international business†¦..7 The road ahead for international business†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦9 Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 Reference†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Introduction Every day we hear it on the news, read it in the papers, overhear people talking about it†¦ and in every single instance the word globalization seems to have a differentRead MoreWhy Globalization Is a Threat to International Business1302 Words   |  5 PagesMany see globalization as an opportunity for international business, but it is clearly a threat. The expression globalisation has obtained impressive emotive energy. Some perspective it as a process that is advantageous a key to future world investment improvement and likewise inexorable and irreversible. Others respect it with danger, even fear, accepting that it builds favouritism inside and between countries, debilitates business and living measures and defeats social advancement. This short

The Crystal Shard 8. Bloody Fields Free Essays

string(190) " beautiful cut and worth a dragon’s hoard of gold!† deBernezan kept his sword out in front of him, but Regis counted as the seconds passed and the dark-haired man did not blink\." The horde entered the mouth of Bremen’s Run just before midday. They longed to announce their glorious charge with a song of war, but they understood that a certain degree of stealth was vital to the ultimate success of deBernezan’s battle plan. deBernezan was comforted by the familiar sight of sails dotting the waters of Maer Dualdon as he jogged beside King Haalfdane. We will write a custom essay sample on The Crystal Shard 8. Bloody Fields or any similar topic only for you Order Now The surprise would be complete, he believed, and then with ironic amusement he noted that some of the ships already flew the red flags of the catch. â€Å"More wealth for the victors,† he hissed under his breath. The barbarians had still not begun their song when the Tribe of the Bear split away from the main group and headed toward Termalaine, though the cloud of dust that followed their run would have told a wary observer that something out of the ordinary was happening. They rolled on toward Bryn Shander and cried out their first cheer when the pennant of the principle city came into sight. The combined forces of the four towns of Maer Dualdon lay hidden in Termalaine. Their goal was to strike fast and hard at the small tribe that attacked the city, overrunning them as quickly as possible, then charge to the aid of Bryn Shander, trapping the rest of the horde between the two armies. Kemp of Targos was in command of this operation, but he had conceded the first blow to Agorwal, spokesman of the home city. Torches set the first buildings of the city ablaze as Haalfdane’s wild army rushed in. Termalaine was second only to Targos among the nine fishing villages in population, but it was a sprawling, uncluttered town, with houses spread out over a large area and wide avenues running between them. Its people had retained their privacy and a measure of breathing room, giving the town an air of solitude that belied its numbers. Still, deBernezan sensed that the streets seemed unusually deserted. He mentioned his concern to the barbarian king at his side, though Haalfdane assured him that the rats had gone into hiding at the approach of the Bear. â€Å"Pull them out of their holes and burn their houses!† the barbarian king roared. â€Å"Let the fishermen on the lake hear the cries of their women and see the smoke of their burning town!† But then an arrow thudded into Haalfdane’s chest, burying itself deep within his flesh and biting through, tearing into his heart. The shocked barbarian looked down in horror at the vibrating shaft, though he couldn’t even utter a final cry before the blackness of death closed in around him. With his ashwood bow, Agorwal of Termalaine had silenced the king of the Tribe of the Bear. And, on signal from Agorwal’s strike, the four armies of Maer Dualdon sprang to life. They leaped from the rooftops of every building, from the alleys and doorways of every street. Against the ferocious assault of the multitude, the confused and stunned barbarians realized immediately that their battle would soon be at an end. Many were cut down before they could even ready their weapons. Some of the battle-hardened invaders managed to form into small groups, but the people of Ten-Towns, fighting for their homes and the lives of their loved ones and armed with crafted weapons and shields forged by dwarven smiths, pressed in immediately. Fearlessly, the defenders bore the remaining invaders down under the weight of their greater numbers. In an alley on the edge of Termalaine, Regis dove behind the concealment of a small cart as two fleeing barbarians passed by. The halfling fought with a personal dilemma: He didn’t want to be labeled a coward, but he had no intention of jumping into the battle of big folk. When the danger had passed, he walked back around the cart and tried to figure out his next move. Suddenly a dark-haired man, a member of Ten-Towns’ Militia, Regis supposed, entered the alley and spotted the halfling. Regis knew that his little game of hiding was over, the time had come for him to make his stand. â€Å"Two of the scum just passed this way,† he called boldly to the dark-haired southerner. â€Å"Come, if we’re quick we can catch them yet!† deBernezan had different plans, though. In a desperate attempt to save his own life, he had decided to slip down one alley and emerge from another as a member of the Ten-Towns force. He had no intention of leaving any witnesses to his treachery. Steadily he walked toward Regis, his slender sword at the ready. Regis sensed that the mannerisms of the closing man weren’t quite right. â€Å"Who are you?† he asked, though he somehow expected no reply. He thought that he knew nearly everyone in the city, though he didn’t believe that he had ever seen this man before. Already, he had the uncomfortable suspicion that this was the traitor Drizzt had described to Bruenor. â€Å"How come I didn’t see you come in with the others earli†¦Ã¢â‚¬  deBernezan thrust his sword at the halfling’s eye. Regis, dexterous and ever-alert, managed to lurch out of the way, though the blade scratched the side of his head and the momentum of his dodge sent him spinning to the ground. With an unemotional, disturbingly cold-blooded calm, the darkhaired man closed in again. Regis scrambled to his feet and backed away, step for step with his assailant. But then he bumped up against the side of the small cart. deBernezan advanced methodically. The halfling had nowhere left to run. Desperate, Regis pulled the ruby pendant from under his waistcoat. â€Å"Please don’t kill me,† he pleaded, holding the sparkling stone out by its chain and letting it dance seductively. â€Å"If you let me live, I’ll give you this and show you where you can find many more!† Regis was encouraged by deBernezan’s slight hesitation at the sight of the stone. â€Å"Surely, it’s a beautiful cut and worth a dragon’s hoard of gold!† deBernezan kept his sword out in front of him, but Regis counted as the seconds passed and the dark-haired man did not blink. The halfling’s left hand, began to steady, while his right, concealed behind his back, clasped firmly onto the handle of the small but heavy mace crafted for him personally by Bruenor. â€Å"Come, look closer,† Regis suggested softly. deBernezan, firmly under the spell of the sparkling stone, stooped low to better examine its fascinating dance of light. â€Å"This isn’t really fair,† Regis lamented aloud, confident that deBernezan was oblivious to anything he might say at that moment. He cracked the spiked ball of the mace onto the back of the bending man’s head. Regis eyed the result of his dirty work and shrugged absently. He had only done what was necessary. The sounds of the battle in the street rang closer to his alley sanctuary and dispelled his contemplation. Again the halfling acted on instinct. He crawled under the body of his felled enemy, then twisted around underneath to make it look as if he had gone down under the weight of the larger man. When he inspected the damage of deBernezan’s initial thrust, he was glad that he hadn’t lost his ear. He hoped that his wound was serious enough to give credence to this image of a death struggle. * * * The main host of the barbarian force reached the long, low hill that led up to Bryn Shander unaware of what had befallen their comrades in Termalaine. Here they split again, with Heafstaag leading the Tribe of the Elk around the eastern side of the hill and Beorg taking the rest of the horde straight toward the walled city. Now they took up their song of battle, hoping to further unnerve the shocked and terrified people of Ten-Towns. But behind the wall of Bryn Shander was a very different scene than the barbarians imagined. The army of the city, along with the forces of Caer-Konig and Caer-Dineval, sat ready with bows and spears and buckets of hot oil. In a dark twist of irony, the Tribe of the Elk, out of sight of the front wall of the city, took up a cheer when the first screams of death rang out on the hill, thinking the victims to be the unprepared people of Ten-Towns. A few seconds later, as Heafstaag led his men around the easternmost bend in the hill, they too met with disaster. The armies of Good Mead and Dougan’s Hole were firmly dug in and waiting, and the barbarians were hard-pressed before they even knew what had hit them. After the first few moments of confusion, though, Heafstaag managed to regain control of the situation. These warriors had been through many battles together, seasoned fighting men who knew no fear. Even with the losses of the initial attack, they were not outnumbered by the force before them, and Heafstaag was confident that he could overrun the fishermen quickly and still get his men into position. But then, shouting as they came, the army of Easthaven charged down the Eastway and pressed the barbarians on their left flank. And Heafstaag, still unshaken, had just ordered his men to make the proper adjustments to protect against the new foe when ninety battle-hardened and heavily armored dwarves tore into them from behind. The grimfaced dwarven host attacked in a wedge formation with Bruenor as its deadly tip. They cut into the Tribe of the Elk, felling barbarians like a low-swinging scythe through tall grass. The barbarians fought bravely, and many fishermen died on the eastern slopes of Bryn Shander. But the Tribe of the Elk was outnumbered and out-flanked, and barbarian blood ran freer than the blood of their foes. Heafstaag worked wildly to rally his men, but all semblance of formation and order disintegrated around him. To his worst horror and disgrace, the giant king realized that every one of his warriors would die on this field if they didn’t find a way to escape the ring of enemies and flee back to the safety of the tundra. Heafstaag himself, who had never before retreated in battle, led the desperate break. He and as many warriors as he could gather together rushed around the dwarven host, seeking a route between them and the army of Easthaven. Most of the tribesmen were cut down by the blades of Bruenor’s people, but some managed to break free of the ring and bolt away toward Kelvin’s Cairn. Heafstaag got through the gauntlet, killing two dwarves as he passed, but suddenly the giant king was engulfed in an impenetrable globe of absolute blackness. He dove headlong through it and emerged back into the light only to find himself face to face with a dark elf. * * * Bruenor had seven notches to put on his axe-handle and he bore down on number eight, a tall, gangly barbarian youth, too young even to show any stubble on his tanned face, but bearing the standard of the Tribe of the Elk with the composure of an experienced warrior. Bruenor curiously considered the engaging stare and calm visage as he closed in on the youth. It surprised him that he did not find the savage fire of barbarian bloodlust contorting the youth’s features, but rather an observant, understanding depth. The dwarf found himself truly lamenting having to kill one so young and unusual, and his pity caused him to hesitate slightly as the two joined battle. Ferocious as his heritage dictated, though, the youth showed no fear, and Bruenor’s hesitation had given him the first swing. With deadly accuracy, he slammed his standard pole down onto his foe, snapping it in half. The amazingly powerful blow dented Bruenor’s helm and jolted the dwarf into a short bounce. Tough as the mountain stone he mined, Bruenor put his hands on his hips and glared up at the barbarian, who nearly dropped his weapon, so shocked was he that the dwarf still stood. â€Å"Silly boy,† Bruenor growled as he cut the youth’s legs out from under him. â€Å"Ain’t ye never been told not to hit a dwarf on the head?† The youth desperately tried to regain his footing, but Bruenor slammed an iron shield into his face. â€Å"Eight!† roared the dwarf as he stormed away in search of number nine. But he looked back for a moment over his shoulder to consider the fallen youth, shaking his head at the waste of one so tall and straight, with intelligent eyes to match his physical prowess, a combination uncommon among the wild and ferocious natives of Icewind Dale. * * * Heafstaag’s rage doubled when he recognized his newest opponent as a drow elf. â€Å"Sorcerous dog!† he bellowed, raising his huge axe high into the sky. Even as he spoke, Drizzt flicked a finger and purple flames limned the tall barbarian from head to toe. Heafstaag roared in horror at the magical fire, though the flames did not burn his skin. Drizzt bore in, his two scimitars whirling and jabbing, thrusting high and low too quickly for the barbarian king to deflect both. Blood trickled from many small wounds, but Heafstaag seemed able to shake off the punctures of the slender scimitars as no more than a discomfort. The great axe arced down, and though Drizzt was able to deflect its path, the effort numbed his arm. Again the barbarian swung his axe. This time Drizzt was able to spin out of its killing sweep, and the completion of the drow’s rotation left the overbalanced Heafstaag stumbling and open to a counter. Drizzt didn’t hesitate, driving one of his blades deep into the barbarian king’s side. Heafstaag howled in agony and launched a backhand swing in retaliation. Drizzt thought his last thrust to be fatal, and his surprise was total when the flat head of Heafstaag’s axe smashed into his ribs and launched him through the air. The barbarian charged quickly after, meaning to finish this dangerous opponent before he could regain his footing. But Drizzt was as nimble as a cat. He landed in a roll and came up to meet Heafstaag’s charge with one of his scimitars firmly set. His axe helplessly poised above his head, the surprised barbarian couldn’t stop his momentum before he impaled his belly on the wicked point. Still, he glared at the drow and began to swing his axe. Already convinced of the superhuman strength of the barbarian, Drizzt had kept up his guard this time. He knifed his second blade just under the first, opening the lower part of Heafstaag’s abdomen from hip to hip. Heafstaag’s axe fell harmlessly to the ground as he grabbed at the wound, desperately trying to keep his belly from spilling out. His huge head lolled from side to side, the world spun about him, and he felt himself endlessly falling. Several other tribesmen, in full flight and with dwarves hot on their heels, came by at that moment and caught their king before he hit the ground. So great was their dedication to Heafstaag that two of them lifted him and carried him away while the others turned to face the coming tide of dwarves, knowing that they would certainly be cut down, but hoping only to give their comrades enough time to bear their king to safety. Drizzt rolled away from the barbarians and leaped to his feet, meaning to give chase to the two who bore Heafstaag. He had a sickening feeling that the terrible king would survive even the last grievous wounds, and he was determined to finish the job. But when he rose, he, too, found the world spinning. The side of his cloak was stained with his own blood, and he suddenly found it difficult to catch his breath. The blazing midday sun burned into his night eyes, and he was lathered in sweat. Drizzt collapsed into darkness. * * * The three armies waiting behind Bryn Shander’s wall had quickly dispatched the first line of invaders and then driven the remaining barbarian host halfway back down the hill. Undaunted and thinking that time would play in their favor, the ferocious horde had regrouped around Beorg and begun a steady, cautious march back toward the city. When the barbarians heard the charge coming up the eastern slope, they assumed that Heafstaag had finished his battle on the side of the hill, had learned of the resistance at the front gate, and was returning to help them smash into the city. Then Beorg spotted tribesmen fleeing to the north toward Icewind Pass, the stretch of ground opposite Bremen’s Run that passed between Lac Dinneshere and the western side of Kelvin’s Cairn. The king of the Tribe of the Wolf knew that his people were in trouble. Offering no explanation beyond the promised thrust of the tip of his spear to any who questioned his orders, Beorg started to turn his men around to head away from the city, hoping to regroup with Haalfdane and the Tribe of the Bear and salvage as many of his people as he could. Before he had even completed the reversal of the march, he found Kemp and the four armies of Maer Dualdon behind him, their deep ranks barely thinned by the slaughter in Termalaine. Over the wall came the armies of Bryn Shander, Caer-Konig, and Caer-Dineval, and around the hill came Bruenor, leading the dwarven clan and the last three armies of Ten-Towns. Beorg ordered his men into a tight circle. â€Å"Tempos is watching!† he yelled at them. â€Å"Make him proud of his people!† Nearly eight hundred barbarians remained, and they fought with the confidence of the blessing of their god. They held their formation for almost an hour, singing and dying, before the lines broke down and chaos erupted. Less than fifty escaped with their lives. * * * After the final blows had at last been swung, the exhausted warriors of Ten-Towns set about the grim task of sorting out their losses. More than five hundred of their companions had been killed and two hundred more would eventually die of their wounds, yet the toll wasn’t heavy considering the two thousand barbarians who lay dead in the streets of Termalaine and on the slopes of Bryn Shander. Many heroes had been made that day, and Bruenor, though anxious to get back to the eastern battlefields to search for missing companions, paused for a long moment as the last of them was carried in glory up the hill to Bryn Shander. â€Å"Rumblebelly?† exclaimed the dwarf. â€Å"The name is Regis,† the halfling retorted from his high perch, proudly folding his arms across his chest. â€Å"Respect, good dwarf,† said one of the men carrying Regis. â€Å"In single combat Spokesman Regis of Lonelywood slew the traitor that brought the horde upon us, though he was wickedly injured in the battle!† Bruenor snorted in amusement as the procession passed. â€Å"There’s more to that tale than what’s been told, I’ll wager!† he chuckled to his equally amused companions. â€Å"Or I’m a bearded gnome!† * * * Kemp of Targos and one of his lieutenants were the first to come upon the fallen form of Drizzt Do’Urden. Kemp prodded the dark elf with the toe of his blood-stained boot, drawing a semiconscious groan in response. â€Å"He lives,† Kemp said to his lieutenant with an amused smile. â€Å"A pity.† He kicked the injured drow again, this time with more enthusiasm. The other man laughed in approval and lifted his own foot to join in the fun. Suddenly, a mailed fist slammed into Kemp’s kidney with enough force to carry the spokesman over Drizzt and send him bouncing down the long decline of the hill. His lieutenant whirled around, conveniently ducking low to receive Bruenor’s second swing square in the face. â€Å"One for yerself, too!† the enraged dwarf growled as he felt the man’s nose shatter under his blow. Cassius of Bryn Shander, viewing the incident from higher up on the hill, screamed in anger and rushed down the slope toward Bruenor. â€Å"You should be taught some diplomacy!† he scolded. â€Å"Stand where y’ are, son of a swamp pig!† was Bruenor’s threatening response. â€Å"Ye owe the drow yer stinkin’ lives and homes,† he roared to all around who could hear him, â€Å"and ye treat him as vermin!† â€Å"‘Ware your words, dwarf!† retorted Cassius, tentatively grabbing at his sword hilt. The dwarves formed a line around their leader, and Cassius’s men gathered around him. Then a third voice sounded clearly. â€Å"‘Ware your own, Cassius,† warned Agorwal of Termalaine. â€Å"I would have done the same thing to Kemp if I was possessed of the courage of the dwarf!† He pointed to the north. â€Å"The sky is clear,† he yelled. â€Å"Yet were it not for the drow, it would be filled with the smoke of burning Termalaine!† The spokesman from Termalaine and his companions moved over to join Bruenor’s line. Two of the men gently lifted Drizzt from the ground. â€Å"Fear not for your friend, valiant dwarf,† said Agorwal. â€Å"He will be well tended in my city. Never again shall I, or my fellow men of Termalaine, prejudge him by the color of his skin and the reputation of his kin!† Cassius was outraged. â€Å"Remove your soldiers from the grounds of Bryn Shander!† he screamed at Agorwal, but it was an empty threat, for the men of Termalaine were already departing. Satisfied that the drow was in safe hands, Bruenor and his clan moved on to search the rest of the battleground. â€Å"I’ll not forget this!† Kemp yelled at him from far down the hill. Bruenor spat at the spokesman from Targos and continued on unshaken. And so it went that the alliance of the people of Ten-Towns lasted only as long as their common enemy. How to cite The Crystal Shard 8. Bloody Fields, Essay examples

Law and Economics of Agency and Partnership †MyAssignmenthelp.com

Question: Discuss about the Law and Economics of Agency and Partnership. Answer: Introduction: Hello, My name as Bob Smith and I have been working as system engineer for the IBM for 20 years. I have thought about an idea of carrying out business activity of my own. Thats, Nice you have come to a right place for the advice. You must have thought of about an Idea which you want to carry out as a business. Please provided me with more details so that I can help you? Yes of course I have made a plan for a business which I want to carry out in relation to my wish. This is actually going to be Gym as there is a significant shortage of good gyms in my locality. I want to start the business activity in a very planned and organized manner and I want my Gym to be a hit. I plan to include a healthy food restaurant as well along with the gym. In addition I would also want to have an adjacent store of body building supplements. That is a great Idea, do u have any place in mind where you want to set up you business activity or you want a help in relation to this as well? No actually I have a place in made just near my house and my wife is looking after the purchase matters in relation to it and so I would not be requiring help. That is very good; however this business Idea of yours can require a significant amount of investment. Do you have access to such funds? Yes, I know that the business which I am planning to set up require a significant amount of investment. The investment which would be required for the business according to my preliminary calculation would be that of around $2 million. This is the amount which would be required for purchasing the property I am taking about along with purchasing the necessary equipments for the restaurant, shop and Gym. This is quite a good research which has been made by you, but do u have access to the funds which are required for the purpose of this business? Actually I have saved up about $500,000 myself and there are two people I know who would be willing to invest in my business idea about a sum of $500000 more. Well, yes there are two people who want to carry out the business I have planned along with me. One of them is Sara who has been my colleague for a period of five years. She has been interested in my business. However I am worried about the fact that she has been involved a couple of businesses in the past which have failed due to her management. She is willing to invest about $300000 in the business. Another person who I know is willing to be a part of my business is Gary. I have known Gary for the last three months. He has promised me that he is going to invest about $200,000 in my business. Actually I dont think that Gary is a good idea and there have been management issues with Sara as well so I think I need to provide advice to you on management issues as well? Yes of course I require advice relation to management issues of the organization as well. This is because this is my Idea and I do not want it to be spoilt by mismanagement of others. I want to retain most of the control in relation to the business in my own hands. Ok sure we will take this into consideration while preparing and advice for you. If it is not confidential can you tell me what is your source of income and how much do you earn per annum Yes sure I have been working as senior officers at IBM for about 20 years and I have an annual income of $200,000 excluding the incentives which I get. This means that you are going to fall in the highest slab of income tax so do you need advice about Income Tax implications on the business as well? Yes of course I do not want to pay more tax like any other person. I want advice in relation to a business structure which will minimize my tax liability Ok we will surely keep it in mind while preparing advice for you tell me the assets which you own? I have an ancestral house which is right now worth one million dollars and I have a car which I own along with my wife which I dont think is of considerable value right now. It is important for Bob to know that in order to operate a business in Australia there are three types of business structures which are available for the parties. These include a sole trading business, Partnership and a Company. Further a company can be subdivided into a public company, private company and a no liability company. A company under the meaning of the Corporation Act 2001 (Cth) can be limited by shares or limited by guarantees (Mann Roberts, 2015). The form of business structure which is easiest to form and simplest to carry out is known as a sole trader. This form of business is conducted by a single person. This does not means that the person has to do all activities in relation to the business on his own. The business owner in a sole trading business can have employees to carry out the work. At law the identity of such person and that of the business which is carried out by him is one and the same. The business name and the name of the person carrying out the business can be same. The primary advantage which this form of business structure brings to the business is that of it is very simple and easy to establish. The amount of investment which is required for initiating a sole trading business in terms of set up cost is the lowest compared to other structures. In addition to the simplicity the trader is provided with supreme control over the affairs of the company as they are not imposed with any managerial intervention. On the other hand the sole trader is not able to avail the benefits of limited liability and may also have restriction of funds to carry out the business. When a sole trading business is held for contract further it cannot be carried out by more than one person (Miller, 2015). The next business structure which Bob must know about is a partnership. A partnership is a type of business structure which allows the business to be carried out by more than one person. There are certain features of a partnership which makes it different from other form of business structures. The partnership business also does not have the features of limited liability like a sole trading business. In addition the people who carry out the business and are known as partners are liable jointly and severally for the action of the other business partners (Cohen, 2017). This means that when a partner does an act it would be binding on the partnership business as a while. The primary advantage which parties may have in relation to carrying out their chosen business activities in form of partnership is that people having various expertise can contribute towards the business and also provided the finding required. It is also easy and cheap to form and does not require a registration. Howev er a partnership agreement can be registered. The business has significant disadvantages as well such as the partners being jointly and severely liable for the actions of other partners. The partners can be personally liable and limited liability does not apply (Clarkson, Miller Cross, 2014). A joint venture is also a partnership having the same rules but it comes to an end after the work for which it has been initiated has been completed. The final business structure which the Bob may have in relation to a particular business activity is that of a company. A company as discussed above can be public and private. This is the most unique form of business as compared to the above discussed structures. A company has separate legal identity which signifies that it is a person of its own and is different from those who own and operate it. As a result it has a perpetual existence and comes to an end by winding up process of law. A company being a separate person has the right to make contracts and bring or be party to legal proceedings. It also has the unique feature of limited liability (Davidson, Forsythe Knowles, 2015). The feature signifies that the owners of the company can only be held liable to contributions made by them in the company which may be in form of shares or guarantees. The management of the organization is carried out by persons appointed by the owners known as directors. In a public company the owners are subjected to less legal scrutiny but they cannot raise public finding. In case of a public company fund raising can be done. The structure can also be used to minimize tax liabilities as well (O'kelley Thompson, 2017). In order to select the best possible structure which Bob may have in relation to carrying out his business activities we need to analyze the requirement of Bob in the light of advantages and disadvantages which such business activities have In relation to the research which I have carried out it is quite obvious that Bob cannot select the business structure of a sole trader. This is because he wants to carry out a business along with his two partners and in business of a sole trader it is not possible to carry out a business which is operated by more than one person. In addition where such business structure is selected the tax liabilities of Bob will significantly increase as the business income and his own income would be the same. He would also not be able to protect the assets which he personal owns in case any problems which occurs to the business due to the lack of limited liability provisions and also he would not be able to gain the additional finding required. As Bob wants to carry out business along with two other partners he can choose the business structure of a partnership. However Bob has provided that the partners with whom he wants to carry out the business have a bad history of Management. In this situation there are significant chances that Bob may be jointly and severally liable to the activities carried out by the other partners and relation to the business. In addition his tax liabilities would be the same like that of sole trading and he would have the same situation to his personal assets in case anything goes wrong to the business. It is also clear from the Research which I have conducted above that Bob cannot carry out of joint venture business in relation to the selected business activity. This is because the activity is not a single business transaction and cannot be done through the help of joint venture. Further the same rules of partnership will be applicable on joint venture as well. From the research which I have conducted I can evidently say that the best business structure which Bob can select in the given situation is that of a private company. Through the use of this business structure he may retain control over the management of the company as he has more amount of investment which compared to the other partners. In addition his tax liabilities would also be reduced as the income of the company and his personal income would be different. Further through the feature of limited liability would be able to protect his personal assets from being claimed with respect to anything which goes wrong in the business. Bob can also rise funding so sources like crowd funding with the help of this business structure. References Clarkson, K., Miller, R., Cross, F. (2014).Business Law: Texts and Cases. Nelson Education. Cohen, G. M. (2017). Law and Economics of Agency and Partnership.The Oxford Handbook of Law and Economics: Volume 2: Private and Commercial Law, 399. Davidson, D. V., Forsythe, L. M., Knowles, B. E. (2015).Business law: Principles and cases in the legal environment. Wolters Kluwer Law Business. Mann, R. A., Roberts, B. S. (2015).Business law and the regulation of business. Nelson Education. Miller, R. L. (2015).Business Law Today, Standard: Text Summarized Cases. Nelson Education. O'kelley, C. R., Thompson, R. B. (2017).Corporations and other business associations: cases and materials. Wolters Kluwer Law Business.