Sample of Customer Analysis free essay sample

With its worldwide methodology in progress, Whirlpool keeps on reinforcing its situation in the market and meet its most significant goal: conveying on its image guarantee to purchasers. Their situating methodology is totally adjusted to convey answers for customers that they really esteem. Despite the fact that cost is a significant piece of the condition, it isn't the whole condition. Whirlpool’s objectives are direct: â€Å"to develop the quality of brands in manners that assemble unrivaled degrees of client unwaveringness. † â€Å"Quality that Grows with You. Ka-accomplice ng praktikal na nanay. † Hanabishi’s situating technique is centered around the nature of the machines and advantages that the buyer will get after buying of Hanabishi’s apparatuses items. The situating proclamation tells a persistent development of the company’s items. Considering you. Electrolux has pledged to remain center in obliging the exceptional classification for buyer family unit durables advertise where it has been referred to for even as it attempts to infiltrate to the requirements of the ASEAN area, which is to a great extent made out of creating economies. We will compose a custom exposition test on Test of Customer Analysis or then again any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The organization has a market position to keep and would not consider to go into the low-final result fragment, keeping up its situating for the superior class. Shopper arranged organization in which all item improvement becomes out of knowledge into purchaser needs. â€Å"Tatak Standard. Tibay Standard† Standard Appliances is the most believed machine organization in the Philippines. For more than 30 years, Standard Appliances has been furnishing Filipinos with best in class, quality apparatuses for the kitchen, clothing and family room; helping increase each Filipino’s Expectation of living. Whirlpool Product Since Whirlpool is an outside brand, the item methodology that were utilized in different nations is a Multi-local technique wherein there is an item modified for each market. In the Philippines, Whirlpool created items for center low salary customers. Whirlpool ovens are made out of Cooktop and a mix of coooktop and a divider broiler and hood. The joined cooktop and stove can be utilized for heating, searing or stewing. Many range decisions: single or twofold broiler, unsupported or slide in the two gas and electric. Clients may pick between gas, electric or acceptance cooktops in 30 or 36 widths to fit the plan of kitchen. Value Price ranges from a run of the mill two hot plates oven to mixes, for example, cooking reach and broilers for ? 5,998. 00 to Php 62,998. 00 Placement Exatech is the biggest merchant of Whirlpool in the Philippines. It is additionally accessible in Abenson stores. Online store. Advancements Some of the advancements of Whirlpool are giving promotions and occasions, publicizing, online advancement, utilizing fan page on Facebook. They are giving promotions and 0% enthusiasm for a half year of installment. Bundles are likewise part of their advancement procedure. Hanabishi Product Hanabishi oven works using conduction which guarantees that no more warmth is tossed into the air than is completely vital, which means lower temperatures in the kitchen. With its programmed start switch, dubious matches and risky consuming papers would be a relic of days gone by. A solitary bit of a handle would work. This component implies there is just a single conveyance port, in this way utilizing less gas. Same rigid item gauges and security highlights. Cost Hanabishi’s oven value ranges from P 1000 to 2000 for single gas oven, electric and enlistment ovens. Position Hanabishi ovens are accessible in Tonix, Wilcon Depot, Abenson, Online retailer like Lazada. ph Promotions Promotional procedures of Hanabishi are item situation, sponsorship and online commercials. Electrolux Products A quickly rising worldwide white collar class is requesting more items with inventive structure under notable, worldwide brands. As a worldwide maker of family unit apparatuses, Electrolux has an unmistakable serious edge. With a solid connect to the Group’s proficient tasks, new, creative customer items are being propelled in the excellent portion over the globe. Their ovens are bound to be renown making out of various plans for acceptance oven, gas and electric reaches. Value Gas Cooktops are extending from 9000 to 15,200 while Gas ranges were estimated P 30,000+ Placement Electrolux is ceaselessly growing its item offering around the world. In the Philippines, Electrolux is to some degree accessible in Abenson Stores and online retailers as well. Advancements Continuous development.

Use of Quasiconcave Utility Functions in Economics

Utilization of Quasiconcave Utility Functions in Economics Quasiconcave is a numerical idea that has a few applications in financial matters. To comprehend the importance of theâ terms applications in financial aspects, it is valuable in any case a short thought of the sources andâ meaning of the term in arithmetic. Roots of the Term The term quasiconcave was presented in the early piece of the twentieth century in crafted by John von Neumann, Werner Fenchel and Bruno de Finetti, every noticeable mathematician with interests in both hypothetical and applied arithmetic, Their exploration inâ fields, for example, likelihood hypothesis, game hypothesis and topology in the end laid the preparation for a free research field known as summed up convexity. While the term quasiconcave: has applications in numerous territories, including financial matters, it starts in the field of summed up convexity as a topological idea. Meaning of Topology Wayne State Mathematics Professor Robert Bruners brief and intelligible clarification of topologyâ begins with the understanding that topology is an uncommon type of geometry. What recognizes topology from other geometrical investigations is that topology regards geometric figures as being basically (topologically) comparable if by bowing, contorting and in any case twisting them you can transform one into the other. This sounds somewhat abnormal, yet consider that on the off chance that you take a circle and start crushing from four headings, with cautious crushing you can create a square. In this way, a square and a circle are topologically equal. Essentially, in the event that you twist one side of a triangle until youve createdâ another corner some place along that side, with all the more bowing, pushing and pulling, you can transform a triangle into a square. Once more, a triangle and a square are topologically equivalent.â Quasiconcave as a Topological Property Quasiconcave is a topological property that incorporates concavity. In the event that you chart a numerical capacity and the diagram looks pretty much like a gravely made bowl with a couple of knocks in it yet at the same time has a downturn in the middle and two finishes that tilt upward, that is a quasiconcave work. Notably, a sunken capacity is only a particular example of a quasiconcave work one without the knocks. From a laypersons viewpoint (a mathematician has an increasingly thorough method of communicating it), a quasiconcave work incorporates every single inward capacity and furthermore all capacities that general are curved yet that may have areas that are really arched. Once more, picture a severely made bowl with a couple of knocks and bulges in it.â Applications in Economics One method of numerically speaking to shopper inclinations (also asâ many different practices) is with an utility capacity. In the event that, for instance, shoppers lean toward great A to decent B, the utility capacity U communicates that inclination as:                                  U(A)U(B) In the event that you diagram out this capacity for a genuine arrangement of customers and products, you may find that the chart looks somewhat like a bowl-as opposed to a straight line, theres a list in the center. This droop for the most part speaks to purchasers repugnance for chance. Once more, in reality, this repugnance isnt steady: the chart of purchaser inclinations looks somewhat like a defective bowl, one with various knocks in it. Rather than being curved, at that point, its for the most part inward however not consummately so at each point in the chart, which may have minor areas of convexity. As it were, our model diagram of buyer inclinations (much like some certifiable models) is quasiconcave. They enlighten anybody needing to know all the more concerning purchaser conduct financial specialists and partnerships selling shopper merchandise, for example where and how customersâ respond to changes in great sums or cost.

Plant Biology questions ---angiosperm questions Assignment

Plant Biology questions - angiosperm questions - Assignment Example Cotyledons are little structures found in seed and they structure leaves during their later turns of events. In any case, among the angiosperm species remember dandelions with variety Taraxacum for the family Asteraceae. Also, there is the Orchis adenocheilaeâ species of the Orchis variety in the group of Orchis or the orchidaceae. Dandelions (Taraxacum officinale) are a weed that is basic in North America. They are aggravation in yards; notwithstanding, they additionally show up in garden beds. They are dim green with rugged edged leaves that are organized in roundabout rosettes (Martin, 2005; PG. 05). Their stems for the most part ascend from rosettes with brilliant yellow tops. They can be depicted as daisy molded blossoms that frequently open in mid spring after which they rapidly puff white seed heads. Each seed has parachute that takes off with twist; in this manner, they are scattered by wing (Dodson, n.d.; PG. 01). These seeds sprout enthusiastically; nonetheless, they set a side some effort to have solid footings. They regularly sprout in almost all seasons and promptly endure winter that influences about the whole North America (Wachman, n.d.; 01). They have profound taproots which promptly sprout new leaves if root isn't slaughtered or evacuated. At the point when harmed, the whole plant leak smooth sap. Then again, the Orchis adenocheilaeâ has various qualities that make them recognized from different blossoms. The sexual parts of Orchis adenocheilaeâ are unique in relation to different blossoms in that they are described by decreased number of sexual bits (Jacquemyn et al. 2011; pg. 01). The general bloom is portrayed by style, fibers, anthers, and shame, includes that are diminished in Orchis adenocheilaeâ and combined into a solitary organized alluded to section. Orchids have just a single anther that is arranged at the pinnacle of their segment (Yang, 2011; PG. 01). Also, an orchid’s ovary has three carpels that melded to an outward pr oof of existing three edges that are found outwardly of seed units. Eminently, a develop orchid seed opens typically opens about the center crossroads between the lines. Thusly, the seeds of this bloom are scattered through self scattering. The ovules are frequently orchestrated in within the edges of the ovary where they don't create until the blossom is pollinated; accordingly, the deferral among fertilization and opening up of the dry case. At long last, it is significant that petals and sepals are very particular in orchids and have remained the principle differentiation among them and different blossoms (Garden and Landscape Tips, n.d.; pg. 01). Their petals are alluded to labellum or lip. Two or up to three of these sepals are typically joined to a segment and their ripe stamens are normally situated on one side on the bloom. At long last, it is significant that orchids rely upon self and cross-fertilization. In any case, it is important that orchids in hot locales rely upon c ross fertilization that is encouraged by various sorts of honey bees while those in chilly districts rely upon self fertilization (Dodson, n.d.; PG. 01). In any case, they rely upon mycorrhizal parasites to finish their life cycle particularly at their beginning time of improvement. The Orchids is the biggest angiosperm and has almost 2,000 species including the Orchis adenocheilae. In the networks in the natural framework, species for the most part communicate with each other to shape a mind boggling and a profoundly organized system. These system structures normally shift

The Hult Prize Challenge 2018 Harnessing the power of energy

Each year the Hult Prize challenges social entrepreneurs to innovate and think like no one has before. The teams that reach the final round are those that have developed wholly new concepts that challenge and disrupt in order to impact the world in a positive way. The Hult Prize 2018 Challenge is no different. The objective is simple, but not easy: harness the power of energy to transform the lives of 10 million people by 2025. This challenge isn’t about inventing new energy systems—we’re looking for entrepreneurs, not engineers—but about deploying them in a way that aligns with customer needs in a sustainable business model. The challenge encourages entrepreneurs to look at the iconic lightbulb for inspiration. Thomas Edison’s version of the electric bulb was not the first, but his business acumen made it commercially viable and practical for widespread use. By paving the way for the electrification of homes and workplaces, the lightbulb was the turning point for grid-based energy and the countless other inventions which rely on it. Similar to a commercially viable light bulb, this year’s challenge looks for ways in which existing and cutting-edge energy harnessing methods can bring power to every economic stratum in society, from the ultra-poor upwards. The key is finding the demand, the appropriate method to meet it, and creating a sustainable and viable business model to propel it forward. To find the best solution to this challenge, the Hult Prize asks students to look both locally—on their own campuses or towns—and internationally to research the needs and demands that a new, disruptive method could fulfill. It’s the same concept that’s at the core of Hult Business School’s own learning model—to examine real-life challenges, understand the global impact, and find forward-thinking solutions. Just as Hult’s Global One-Year MBA looks to provide real-life, practical knowledge with global applications, so does the Hult Prize challenge students to find the broader context for each issue presented. In the case of this 2018 challenge, energy is something that has the potential to impact people, communities, societies, and economies in every corner of the world. A successful solution will require new thinking and creative innovation alongside the drive of the entrepreneurial spirit. It’s this same forward-thinking innovation that Hult encourages in our students and that we see within our own programs in the Hult Business Challenge. The recent 2017 winners created a disruptive business model for Siemens leveraging trends like electric vehicles, the Internet of Things, and the smart cities initiative. By applying new disruptive entrepreneurial thinking to existing systems, the team was able to find a viable solution—exactly what students must do for this year’s Hult Prize Challenge. To succeed at the Hult Prize Challenge, each entrepreneurial team will need more than hypothetical solutions. The key to a winning business model is to look at the practical applications. Teams must understand their consumers in order to create a sustainable and viable concept. And by encouraging competing teams to engage directly with the people who would be impacted by their proposals, the Hult Prize also gives participants first-hand experience and learning opportunities to expand and apply the skills and knowledge they’ve learned in the classroom. It’s the same concept that’s at the heart of Hult’s approach to learning: In understanding consumers, demand, and sustainability in a real-life situation, students gain experience and preparation to become more than just leaders of business. To learn about more Hults forward-thinking curriculum and global business programs, download a brochure. Make the most of what your career has to offer with a Masters in International Business from Hult. To learn more, take a look at our blog One-year vs. two-year MBA programs, or give your employability a huge boost with an MBA in international business. Download a brochure or get in touch today to find out how Hult can help you to explore everything about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .

Sociology Symbolic Interactionism, Functional, And...

There are three main theoretical perspectives in sociology: symbolic interactionism, functional analysis, and conflict theory. These theories serve as an approach to the formulation and solution of social problems. Each theoretical perspective defines specific touch to the study, interpretation, and evaluation of social objects. Despite the fact that these theories use different approaches to research, all of them can be applied together to any aspects of a social life to better understand the nature of human relationships and to give a bigger picture of studying subject. The main idea of symbolic interactionism lies in the statement that human interactions take place through the interpretation of symbols and signs. Human actions and relationships are defined by symbols, which had been created and fulfilled with meaning by human beings themselves. And that makes symbols the essential part of any society. American sociologist George Herbert Mead, one of the founders of this theory, considered human actions as social behavior based on communication. He believed that people respond not only to the actions of the others but also to their intentions, and interpret them on the basis of the analysis and actions of our past experience in similar situations. For example, a reached out hand can symbolize one of the following: a greeting, attack, or a plea for help. Only by interpreting a symbol, we can react to it, as to shake hands with the other person, firmly grasp or leave.Show MoreRelatedThe Major Theories of Sociology Essay1221 Words   |  5 PagesSymb olic Interactionism In the field of sociology, sociologists use many different theories to base their ideas and observations on; however, the three major theories that are used are symbolic interactionism, functional analysis, and conflict theory. It is these three theories that will be the focus of this paper. 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Functionalism is based largely on the works of the sociologists Emile Durkheim, Herbert Spencer, Robert Merton, and more. According to the functionalist perspective, society exists as a harmonious system of interconnected parts that maintain a state of social equilibrium and balance as a whole. Different social elements

Ethical Dilemmas for Lawyers, Staff, and Management Essay

Ethical Dilemmas are a pressing issue within any law enforcement or law agency the power that people have in positions such as these force them to share an equal or greater amount of reasonability. Ethics is defined as â€Å"the branch of philosophy that typically deals with values relating to human conduct with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions†. This definition of ethics courtesy of Webster dictionary shows just how complex the intricacies of ethics are and how major dilemmas might negatively impact departments for instances lawyers are plagued with ethical dilemmas on a day to day basis such as Lawyer advocacy, conflict of interest, Professional†¦show more content†¦Lawyers cant represent clients when they have a conflict of interest. For example, an attorney could not sue someone he had previously represented if his previous representation gave him information that woul d lead to an unfair advantage or the appearance of one. This is where the ethical issues began to arise lawyers in the same firm typically cant represent clients with opposing interests. Even if one lawyer in the firm has no direct conflict of interest, the fact that another lawyer does might prohibit representation that could lead to sanctions or complications for the lawyer or the firm he or she may represent. The responsibilities that lawyers have are nearly innumerous not only are Lawyers forced to adhere to the specific guidelines of the Bar but they also have to create a relationship with each client by giving them a trusting environment. Each state bar establishes its own rules of professional responsibility for lawyers, and law firms must ensure that their partners, associates and any lawyers with whom they contract follow these rules. 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The Doctrinal Basis Of Liability free essay sample

There are three areas of doctrine of importance to banks. The first concerns the general standard of care the law expects, once a duty of care has been established, whether that be in contract, tort, or fiduciary law. Then the potential liability of a bank is explored as a fiduciary, constructive trustee, or an accessory. Finally, there is brief mention of some emerging standards of liability which have primarily a statutory base. 1. 1. Reasonable Care and Skill A duty of reasonable care and skill for anyone providing a service (including giving advice) runs through contract, tort, and fiduciary law. After a mass of conflicting case law, notably the challenge to concurrent liability in contract and tort posed by the banking case, Tai Hing Cotton Mill Ltd v Liu Chong Hing Bank (1986), it is now settled that a claimant may seek compensation for economic loss caused through the failure to exercise reasonable care and skill in both contract and tort. As for fiduciary law, it has long been the position that a fiduciary (including a trustee) must act or advise with reasonable care and skill. There is long-established authority, in the context of bills of exchange that a bank can be in breach of its duty of reasonable care and skill in failing to make inquiries. Factors such as the standing of the customer, the bank’s knowledge of the signatory, the amount involved, the need for prompt transfer, the presence of unusual features, and the scope and means for making reasonable inquiries may be relevant. . 2. Fiduciary Law (i) Fiduciary Duties and Their Negation Apart from the duty of care key prescriptions are that fiduciaries (1)Should not permit their private interests to conflict with their duty to a beneficiary of the duty; (2)Should not permit their duties to one beneficiary to conflict with their duties to another; (3)Should not make a secret profit, i. e. a profit from their position which is undisclosed to their beneficiaries; and (4)Have a duty of confidentiality. While contracts may modify the scope of fiduciary duties, however, it cannot be that contract can be invoked to negate them regardless of the circumstance. Thus, since many private customers will not necessarily expect their bank to be conducting conflicting corporate-finance business, it will be difficult to imply a contract term negating the undivided loyalty the bank may owe if it is a fiduciary. (ii) Trustees and Agents Fiduciary duties are clearly imposed on trustees and agents. The position with trustees is relatively straightforward. In acting as a trustee of an estate or investment fund a bank must not invest with itself. But a bank will not be in breach of its fiduciary duties if the trust instrument empowers it to open accounts or make deposits or investment with itself, despite its being the trustee. The fiduciary duties attaching to an agent vary, with the nature of the agency. Thus, the bank instructed simply a buy or sell securities has fewer fiduciary duties than if it is the manager of a discretionary fund. (iii) Banks as Financial Advisers and Facilitators need: To furnish all relevant information, relevant in making investment decisions. To give best advice it can. †¢To obtain the best terms for the customers. Woods v. Martins Bank Ltd is an old authority, where the bank advised A to invest in B, which was heavily indebted to it. It is still good law although, since it predated Hedley Byrne, it was necessary to find a fiduciary relationship if liability was to be imposed for negligent advice. 1. 3. Knowing Receipt, Inconsistent Dealing and Assistance (i) Knowing Receipt For this form of liability it must be shown, first that the funds have been disposed of in breach of trust, fiduciary duty, or as a result of some other unconscionable dealing. Moneys held on trust and misapplied are obviously caught. So, too, are misapplied corporate moneys since historically directors have been treated as if they were trustees of the property of the company under their control, so that any wrongful disposition is a breach of trust. The second prerequisite to an action in knowing receipt is that the bank must have received the claimant’s funds for its own benefit. Tracing has a role here: the bank must have beneficially received funds which are traceable as representing those of the claimant. Thirdly, liability for knowing receipt demands knowledge on the part of the bank that there has been a payment in breach of trust, fiduciary duty etc. (ii) Inconsistent Dealing A bank receiving funds in circumstances which do not constitute knowing receipt can still be liable if those funds are subsequently applied for its own benefit (‘inconsistent dealing’). At that point the bank must know that the funds involved are subject to a trust or fiduciary duty and that what it is doing with them is in breach of that. (iii) Assistance Even if a bank is not liable for knowing receipt, it may be liable as an accessory for dishonest assistance. Assistance is a form of accessory liability, which sits alongside other forms of accessory liability in equity, such as the receipt of information in breach of confidence, and including breach of trust or fiduciary duty. What are the prerequisites for accessory liability? First, there has to be a breach of trust or fiduciary duty. Second element in assistance is fault. One gloss in this context is the suggestion in the oft-cited case of Barnes v. Addy (1874) that for assistance there has to be ‘a dishonest and fraudulent design on the part of the trustee’. This may be defended as a way of narrowing the potential liability of accessories such as banks. However, it is now clear that there is no need to establish fraud on the part of the trustee or fiduciary, and an innocent breach of duty is sufficient. Emerging Standard: Due Diligence, Suitability, Good Faith Due diligence as a standard emerged from securities law: in the United States a bank involved in a public offer of securities must make its own investigations (in relation to statements for which it takes responsibility), in other words it is obliged to undertake ‘due diligence’ in relation to the issuer and the issue. This seems to be part of a growing trend to make banks statutorily liable for unlawful activities which they facilitate by their operations, unless they an demonstrate due diligence. Suitability too is a concept most developed in the area of securities regulation. It imposes a liability on those marketing securities which are incompatible with the needs of customer. Closely associate good faith with notions such as fairness, honestly, and reasonableness. In other words, it means simply that in the performance of a contract both parties are assumed to agree not to do anything to impede its performanc e, or to injure the right of the other to receive its benefits. The good-faith doctrine has been invoked in the context of banking, requiring a bank to disclose material information to a commercial counterparty. 2. Duty to advise and the liability for the advice given Some situations clearly involve a bank in giving advice. Advice on reorganization, mergers and acquisitions financing, and so on is the staple diet of investment (merchant) banking. In other situations a bank may assume the role of financial adviser. However, many banking services are not associated with giving advice. The legal issue is whether there is any obligation on a bank to proffer advice in this situation. The second matter addressed is a bank’s liability if it actually does give advice, the advice is faulty, and the customer incurs a loss. 2. 1. Duty to advise (i) The General Rule Generally speaking, one party will be under no obligation to advise another about the nature of the transaction, its prudence, or other features. So, too, in banking, English courts have held that the bank providing an account for a customer need not advise on the risks, or on the tax implications, of certain payments in relation to it. Nor need it advise customers of a more advantageous type of account it is now providing. However, there is a rather clear difference between these and some of the other services and transactions of the modern multifunctional bank. Take the bank selling its own products-be they derivatives to commercial customers, or insurance policies, or interests in a collective investment scheme to private customers. (ii) Situations imposing a duty to advise The first situation where the law imposes a duty to advise is a misrepresentation –a failure to speak or act can constitute conduct which misleads. Thus a half-truth may constitute a misrepresentation, as where a bank canvasses the advantages, but not the risks, of a transaction with a customer. The bank must tell the whole story. A bank’s advertising may be relevant in this respect. Secondly, there can be liability for a failure to disclose in precontractual negotiations if there has been a voluntary assumption of responsibility to do so and reliance by the customer because the court held that the bank was liable when its manage failed to explain clearly to the wife, the effect of a charge over a joint property to secure the husband’s borrowing from the bank. Thirdly, in Cornish v. Midland Bank, Glidewell LJ said that once a bank enters upon the task of advising a customer, it is obliged to explain fully and properly about the nature of the borrowing. Fourthly, if a relationship is fiduciary in character, then disclosure is necessary if a person is to avoid liability for putting interest above duty, or duty to one above duty to another. Fifthly, at common law a bank which takes a guarantee is bound to disclose unusual features in the transaction which has been guarantee. Finally, the duty to advise can be imposed as a result of regulation. (iii) The Advice Required (If Any) Advice may translate into the legal concept of notice, as where the bank must give notice in relation to a conflict of interest. Complete disclosure of all relevant facts known to the fiduciary is required. Advice must, of course, be honestly given-otherwise it is fraudulent. Generally speaking it must also be accurate. Some advice involves highlighting the terms of the contract being entered (or at least some of them). Another approach is to require advice about the alternative on offer-in terms, say, of repayment methods, interest rates, charges, and commissions. Perhaps the most effective advice in relation to some banking transactions is advise, about the attendant risk. The standard demanded here may be objective, although it could also be associated with an obligation on the bank to take steps to ensure that this particular customer understands the risks. 2. 2. Liability for advice given Bank’s promotional material, may lead to the conclusion that it has taken on the responsibility of the borrower’s financial adviser. There is greater chance of liability when the bank advises unsophisticated customers; in several cases the English courts have held that a bank was liable when its bank manager failed to explain clearly to a wife the effect of a charge taken over joint property to secure a husband’s borrowings. Negligent advice can obviously occur in the range of matters in which banks become involved. Examples includes credit references; failure to pass on information on when a bank enters upon the task of advising a potential borrower about the attendant risks of a particular facility; statements by bank that it will make available to a customer adequate funds to enter a contract with a third party; advice about investments; and assurances that workout plans are heading in the right direction, and that the bank is optimistic about an agreement being reached. In Hedley Byrne the bank avoided liability because of a disclaimer in the reference. In would seem right as a matter of policy for a bank to be able to avoid the consequences of giving negligent advice by suitable notice to those receiving it. As a matter of policy, whether this is regarded conceptually as aborting liability or a exempting from liability already begotten is beside the point. The central issue in practice should be whether the disclaimer of , or exemption from, liability has been made clear to those being advised so they are in no doubt that the bank is washing its hands of the consequences if the advice proves inappropriate or wrong. A small print clause in a document given to those being advised is unlikely to satisfy this test. In English law the matter is handled by applying the unfair contract terms legislation. The seminal case recognizing the tort of negligent advice, Hedley Byrne Co. Ltd. V. Heller Partners Ltd, involved advice given about a customer’s creditworthiness in a bank reference. As subsequently interpreted, Hedley Byrne liability depends importantly on an assumption of responsibility by a bank, a sufficiently proximate relationship between the bank and the customer or third party, and on there being reliance on the statement. Assumption of responsibility an proximity are, in large part, legal fictions, and in practice a court will have regard to factors such as the purpose for which the statement was made and communicated, the bank’s knowledge that the advice was needed for a particular purpose, the relationship between the bank and the person relying on the advice, and the size of any class to which the latter belongs. As regards disclosure (and this includes electronic disclosure), it is worth repeating here what was said in Woods v. Martins Bank Ltd [1959] 1 Q. B. 5 at 60, where Salmon J. said It cannot be too clearly understood that solicitors owe a duty to the court, as officers of the court to make sure, as far as possible, that no relevant documents have been omitted from their clients list. Barclays Bank v OBrien [1994] 1 AC 180. A husband and wife agreed to a second mortgage secured on their home to help out the husbands ailing company. The necessary documents were sent to a branch with instructions to ensure that the couple were aware of what they doing and to take legal advice on the matter. This did not occur. The wife signed the documents, relying on her husbands explanation of the situation (that it involved ? 60,000 for 3 weeks). When the debt reached ? 154,000, the bank ordered the house to be repossessed. At appeal, the court held that misrepresentation to the wife had occurred, the bank was fixed with constructive notice and the wifes equitable right was enforceable against the bank. The case of Royal Bank of Scotland v Etridge was decided by the Lords in a Judgment handed down on 11th October 2001. The case set standards for lending institutions where guarantees are given by a third party. It also sets standards for Solicitors who take on the task of advising those third parties. The most important point for lending institutions, thinking of enforcing their security is that cases of this nature need to be tested on their facts. It will make the lower Courts think very carefully whether cases which are perceived as hopeless should be struck out at an early stage. The decision in this series of appeals mitigates against early strike out. It could mean that lending institutions no longer have a quick route by which to realize the security and in many cases they will be locked into trials which could prove lengthy and expensive.