Expectation damages would have left Walgreen’s indifferent between the damages and performance by Sara Creek. Walgreen’s expected to make a certain profit, but would lose profit from a competing store and pharmacy as the anchor tenant. The difficulty in this case, and expectation damages in general, is that the value of performance is sometimes hard to quantify. Calculating expectation damages involves projecting future revenues and costs of Walgreen’s without the presence of Phar-Mor and determining the impact of the addition of Phar-Mor. The court determined that there was too much uncertainty in this calculation to award damages, but for the sake of argument, let’s say that Sara Creek would have paid damages monthly.
James A. Hammerton in the “ A Critique of Libertarianism” said that not all voluntary exchanges are just as the exchanges can have consequence on third parties, who might not have consented to the exchange. It contradicts the theory from Nozick that the just transfer of goods is a voluntary transfer from the rightful owner to another person, and without mention about the third parties. In additon, as Nozick said that property right is inviolable, it means that any violations should be compensated for. But in real world that may not be the case as it will be impossible for everyone who get benefits from the government compensate to those to contribute the fund. James also believe that the operation of the free market should be come along with some social rules.
It is there to protect consumers from predatory business practices by ensuring that fair competition exists in an open-market economy. How is breaking the Anti-trust law unethical? The law is designed to create a free market foundation to create a table economy. If companies allocate customers it eradicates competition which may have a negative impact on quality of the service provider. Allocation of customers also takes away the customers right to chose, because the service provider has chosen you one is n longer entitled to their preference.
Institutionalists also focus on the free riding problem, which assumes that nations will tend to cheat and not do their part in producing public goods. International institutions, such as the United Nations or World Trade Organization, can help in establishing and sustaining cooperation among states by reducing transaction costs, helping with monitoring (free riding problem), and offering third party mediation. Neorealism and institutionalism have their differences, but they share also some common assumptions. Therefore, both perspectives agree that states are the main actors in international relations, act in rational self-interest, and are faced with anarchy as an obstacle to cooperation. However, neorealists view anarchy as a threat to survival, while institutionalists see it as a threat to cooperation.
Even if the outcome of the Round was a clear one, it would be very hard to identify its effects on 'developing countries' in general terms. The general outcome could be described as favourable to the sum of the developing world, with only TRIPs and the restrictions on future sovereignty of trade policy posing negative effects. But the advantages seem to be clearly for the most advanced of the developing countries, which already have developed basic services to offer and greater possibilities of attracting potential foreign investments. The new regime in services and anti-dumping would, however, offer gains to the least developed countries in the long-run, as long as they become more efficient in exporting the former or become more vulnerable to the
This definition of rationality is significantly different to the standard economic idea as it does not mean to maximize the personal benefit regardless of the consequences. Economist Lászlo Zsolnai (1997) even highlights that due to the rareness of the character traits of empathy and social commitment decision-makers who have these qualities receive prizes and ethical awards. He also accentuates that in complex decisions multiple considerations including a variety of value dimensions are required to develop the optimal outcome. This explains the buying behaviour of consumers who consume mindful and are aware of that there consuming decision also influences other
What is normally suggested is that if a firm is producing, manufacturing or reselling goods that they usually export since it is the easiest and least risky method. The risk that occurs if this type of strategy is used is that the firm depends on the company that will be exporting to and their customers in order for their product to be known. Yet other strategies include a joint-venture, licensing and franchising, foreign direct investment, and strategic alliances which even though they have more risk than just exporting they are more likely to be used than full ownership. These strategies give the firm the opportunity to still have some control, at different levels, of how the product will be managed in the foreign country. An example of this is Kia Motors direct investment in Slovakia in 2004 or Volkswagen’s joint-venture with Skoda for a period of time in 1991.
Instead, they are considered as intelligent and thoughtful partners who have emotions, spiritual values and feelings. This is to insinuate that the individuals together with the consumers have to work hand in hand in order the current socio-economic landscaped is shaped primarily by two great forces, that of globalization and technology. Consumers expect their organizations realize that indeed they operate within a society and therefore they should make these societies a better place to live in through coming up with better solutions for their lives. However, some authors are of the opinion that marketers are some sort of psychopaths of market forces and they are just grappled with the thrill of market capitalism and that they have zero vision of what they would like to achieve. It is therefore, evident that the marketers
The international business offers the possibility of exploiting three resources of the competitive advantage, unavailable for the national companies: global efficiencies, the multinational flexibility and worldwide learning process (Lovas and Ghoshal, 2000, pp. 875-896). According to Laura Diaconu, in order to reach equilibrium, the multinationals often adopts one of the four alternative strategies: the national, multidomestic, transnational or global strategy. International strategy will be adopted by companies that aim to leverage their core competencies by expanding into foreign markets. The international strategy has low local responsiveness and also low concern about cost reduction.