The Economic Structure Of Trusts And Fiduciary Obligation Essay

The Economic Structure Of Trusts And Fiduciary Obligation - Essay Example The inflexibility of the no conflict rule and the no-profit rule seems hardly fair in the field where discretion requires the utmost flexibility in decision-making. The no-profit rule has also been segregated from the no conflict rule6 and the rationalization of the no-profit rule makes sense. In Swain v Law Society Oliver LJ stated that no profit rule is predicated on the distinct principle that obtaining a profit without authorization is a breach of fiduciary duties because the profit itself is actually trusted property.7 The no-profit rule is therefore not entirely inflexible as trustees may make a profit out of the trust with the proper authorization. 8 However, should a beneficiary complain of a breach of trust pursuant to the no-profit rule, it may be difficult for the trustee to claim that the profit was authorized.9 The no profit rule is intricately tied to the no conflict rule as the operation of the no conflict rule is often applied to the making of profits.10 For instance, in Industrial Development Consultants Ltd. v Cooley it was held that the trustee must account for profits made in his competing business.11 Although the ruling was obviously made pursuant to the no conflict rule, the case clearly related to making profits and thus the no-profit rule. It would, therefore, appear that the no-profit rule is ultimately unnecessary as any conduct amounting to the making of a profit can properly be dealt with under the no conflict rule. As for the no conflict rule, there is considerable debate over whether or not the rule should be stricter or more relaxed or constructed with greater flexibility.12 However, the House of Lords’ ruling in Boardman v Phipps makes it clear that the no conflict rule is strictly applied.

Visual Media Essay Example | Topics and Well Written Essays - 1000 words

Visual Media - Essay Example There is no overt action. The man is gently touching the woman as he finds her desirable and the woman is coyly maintaining certain distance. She appears hesitant as if she is trying something new. The first time look is evident on her face. These tactics have been deliberately employed to convey that while with Romance, you can have romance; it will be love and not just sex. This subtle differentiation between sex and romance has given the ad its classy value. The second message you get is that RL Romance is not for everyone. It's not a common-folks item. It is meant for people with certain tastes and this is evident from the clothing of the two models, however little they are wearing. The white clothing, the stylishly done hair and the serious expression on the face of the female model are done to maintain certain distance from the audience. It is not an-everyone perfume and it has to be portrayed as such. The moment the two models share is something private and is in complete contrast with the light flirtatious moment shared by the two models in CK ad (discussed below). This ad is employing propaganda by different techniques with most prominent being Scarlet Johansson's presence. The woman represents a variety of things including being a young, talented and sexy star. Using a star in an advertisement lends immense power to the brand without requiring any real proof. People are likely to think that since Scarlet Johansson is using this perfume, may be I should to. It has the testimonial value as well as the bandwagon value. Scarlet is 'cool, chic and happening' and if you want to be like her, use Eternity Moment. The ad uses a simple line too that says, "A moment can change everything". Indirectly the audience is being told that they should not underestimate the value of each moment while highlighting the significance of the product's name. the audience is also being reminded of the value of being prepared. In an important moment, if you are wearing the right perfume, that can change everything. Now this may or may not be true. But the ad takes it f or granted that we believe it to be true. Again like Ralph Lauren, Calvin Klein is also a well-known brand. Definitely the perfume may not be used by the common folks but the ad gives you a feeling that it can be or rather should be used by everyone who wants to turn an ordinary moment into something exceptional. Capturing Johansson with a girlish grin on her face gives the ad a common-folks value. She appears genuinely happy like any ordinary girl in love. Most women would be able to connect with her and the expansive of her happy soul. The model is having a pleasant experience and this is something everyone can relate to. The same could not be said of the Ralph Lauren ad that maintains a certain stiffness of manner to exude class and sophistication. Interesting both these advertisements lack color. They are done in black and white with a hint of color in the perfume bottle. This color is almost non-existent in RL Romance ad while it is

E-goverment Essay Example | Topics and Well Written Essays - 1000 words

E-goverment - Essay Example E-government not only helps provide service to citizens, it is use a system of ICT hardware and software to improve internal and external government functions. Even though some countries have found improved systems and efficiency using e-government tools, there are many problems with design and implementation that are both internalized and externalized. These problems range from improper systems emphasis, changing visitor needs at the citizen level, interoperability problems between different software packages, outsourcing issues and problems with procurement. The research literature suggests that implementation of e-government services poses challenges even for more developed country. The subject is a fast-growing one with important consequences for national economies and competitiveness. In a sense, it represents a revolution in the way that services are provided to citizens. E-government is a fast growing industry. Like all such things that expand rapidly, there are great gains to be made, but also periodic setbacks. For example, in India, a country with a well-established governmental system, e-government has posed problems with regards to the process of electronic procurement. This country has a bidding system for purchase of governmental goods and services and the e-procurement system has increased average bidders from three to 4.5 (Payne, 2006). By moving governmental procurement to the Internet, it has managed to complicate the supply chain, therefore leading to the need for more database storage ability and more information technology support. This example is a useful illustration of one of an important issue relating to e-government. In the United States, e-government has created a need for internal organizational changes that demand decentralization, rather than its traditional top-down leadership hierarchy. In a decentralized structure, decision-making is filtered throughout the organization instead of in a

Women in business nowadays and the past Essay Example | Topics and Well Written Essays - 1750 words

Women in business nowadays and the past - Essay Example Stereotyping against women is a common trait around the business world. Yet, everybody should realize that a woman is in no way inferior to man and she can very well handle the pressures and stressful life of the business. Handling a family with the work is no easy job and many women in today's age are not just balancing work and family life, rather they are integrating it. The business world is getting infused with a diverse workforce day by day. The trend towards being an equal opportunity employer is rising. More and more women are being hired in today's corporate world. And the differences between men and women are being sorted out as women take on as many as 25% of top level managerial posts in successful organizations. Therefore, the composition of males and females in the workforce of a typical organization has changed. Yet men still possess a significant amount of decision making in their hands. Whether it is the power to hire and fire or to access financial resources, men are always given the advantage over women. But if businesses are to reach their highest potential, they need to make full use of women by accepting the fact that they are different from men and are not inferior to them in any way.1 Approaches to conflict: When it comes to a conflict, men usually consider it a healthy process and they use logic, bargaining and even anger to resolve it. Whereas, on the other hand, women tends to focus on the affective part by understanding each others feelings in a conflict. For women, conflict is undesirable and damaging in many ways. They have a negative view point of conflict and therefore, they would like to get it solved without exaggerating it thereby using less direct approaches. Research also suggests that men will tend to go for riskier solutions when it comes to resolution of conflict. Supervision and leadership styles: although leadership styles would look pretty similar on the core, they are quite different. Research has found that women tend to treat their subordinates more as colleagues than the men and women also encourage the participation of everyone in a decision making process. Men, in such positions, will go for a less collaborative style, and will give more directions and tend to be more dominating too. Relationship with others is an integral part of women's leadership styles than for men. A woman also tries to build a sense of community in the place where she is the leader, unlike men. Working in teams: men and women think differently in terms of what needs to be communicated when a team is in action. Women put a lot of importance to these team characteristics: competence, respect, fairness, knowledge of team member's roles, and team members should also provide extra help and support to each other when needed. Whereas, men do not place much importance on these characteristics. The Role of Women in the Society Women, more or less, assume a particular cultural and gender role that they have to fulfill. In pre-historic times, the women of the family used to help the man in doing whatever business they did out of the farms or by doing agriculture. The women used to gather products like fish or learn to

Annotated bibliography Research Paper Example | Topics and Well Written Essays - 3750 words

Annotated bibliography - Research Paper Example This implies that TORAP can be used to put together suitable counteractive steps to avoid or regulate accidents. The authors added that â€Å"TORAP enables accident simulation and damage potential estimation of petroleum and petrochemical industries† (262). Thus, the most important feature of TORAP that can help reduce the risks of petrochemical companies is its ability to forecast possible accidents. Being able to determine the probability of accidents is a huge leap for risk analysis at petrochemical companies. The authors further promoted TORAP by declaring that it â€Å"incorporates a larger number of models to handle a larger variety of situations specific to petroleum refineries and petrochemical industries† (260). The complexity of the entire structure of the petrochemical industry will hence be captured and clearly explained by TORAP, reducing the difficulty of developing appropriate safety regulations and risk management strategies. The unique contribution of t his book to the present study is its thorough discussion of risk analysis through the application of computer-automated tools. The authors of Accident precursor analysis and management: reducing technological risk through diligence agree that predicting probable accidents is the best way to prevent or minimize the impacts of accidents in petrochemical companies. On the contrary, the author of Inherently Safer Technology: The Cure for Chemical Plants Which Are Dangerous by Design argues that predicting probable accidents is just one of the many steps to avoid them, and that the real solution rests in the adoption of safer technology. Alson, Gregory. How safe is safe enough?: leadership, safety, and risk management. London: Ashgate Publishing, Ltd., 2003. The author mainly argues that even though many people think that all accidents are preventable, accidents will still happen. The imperfect human attribute and the intricacies of industrial operations attest to the fact that attaining ‘zero’ accidents is not likely. Hence, the author argues that leaders should make every effort to develop the most beneficial and efficient safety measures. As stated by the author, â€Å"such unthinkable accidents can indeed happen, sounding a siren for safety to reduce loss of resources and enhance social responsibility† (19). The value of competent leaders in any organization, especially those which are prone to accidents, is largely manifested in the management of physical resources and human capital. Thus the author suggests, â€Å"an organization can incorporate system safety into a system’s life cycle, bringing with it management’s commitment toward safety† (20). This solution is sound for it has the capacity to create a permanent safe environment for petrochemical companies. This method can significantly lessen the risks associated with petrochemical operations. The author believes that â€Å"while many organizations worry about los t workdays due to unnecessary injuries, in some cases an accident can cause indescribable disaster and grief† (17). It is very crucial that petrochemical accidents are prevented because of the widespread and severe effects of these accidents on the local population, the

Technology Essay Example | Topics and Well Written Essays - 500 words - 13

Technology - Essay Example Globally, technology has become very vital. However, as much as it has enhanced living, it has also brought some challenges like global warming, urban smoke and ozone depletion. The study seeks to outline the rational between technology and global change. Technology has played a very significant role and the transformations are evident in many areas around the planet. The first one is energy generation and consumption in both domestic and commercial use. Generally, power energy is used for warming and cooling our residence while in factories energy is essential in the production process. Currently, with energy resourceful technology, it is possible for individuals to employ a smaller amount of energy to get the same work done that before used very high energy levels. According to Brian and Gary, the use of efficient technologies has enormously contributed in saving money and energy (115). Technology has also led to new ways of generating energy such as wind, geothermal, solar and bio-energy. Energy obtained through these methods is referred to as renewable energy. It is believed to have the technical ability to meet all energy requirements, quickly and simple to set up, cost-effective and environmental friendly. With the correct tech nologies in place, environmental pollution can enormously be cut down while at the same time assist in jobs creation. The second area that has recorded enormous transformation is the transport sector. With the sector tremendously expanding, its segment’s discharges have risen at a much faster pace in contrast to any other power- using sector in excess of the earlier times. The major challenge, therefore, is how to enhance efficiency at the same time reducing discharge. Through technology, advances such as increased miles per gallon in all forms of transport and low–carbon petroleum are day in day out being developed (Brian and Gary

Marketing Reasearch Topshop Essay Example for Free

Marketing Reasearch Topshop Essay Many organisations use marketing research to contribute to the development of their businesses because Market research can improve marketing strategies. Market research gives you concrete feedback regarding the product or service. You can use the information from market studies in your marketing strategy to define your target market, position your product, and price it appropriately. TOPSHOP is one of the world’s most internationally recognized fashion design talent schemes its part of the Arcadia Group, which owns a number of other retail outlets, it seems to be the single biggest supporter of emerging design talent in the UK. Arcadia Group ones over than 500 stores in more than 30 markets, supporting franchisees. Retail is a popular market as many new designers and stores are always popping Using marketing research is the most common kind of research as you can determine your market how you need to brand your product. Also finding competitors can be very useful when selling similar products for example a very popular fashion necessity like leggings. These leather leggings are popular in London at the moment and many stores are selling them however as TOPSHOP is such a popular brand people would rather spend  £33 at TOPSHOP then  £12.99 at a more basic store even with the significant price difference. This shows the importance of market research and branding, TOPSHOP’s reputation and brand awareness allows them to sell product at a higher price than other market competitors. Both products are made from the same material 100% Polyurethane but TOPSHOPS modifies the basic shape by adding multiple seams and a metal zipper, this adds a more fashionable twist then other companies which then allow TOPSHOP’s marketing team to increase the price to beat competitors. Topshop is a British clothes retailer specialized in womens clothing and fashion accessories. Topshop started life in 1964 as Peter Robinsons Topshop. By the 1970s Topshop had the first stand-alone store which was opened in 1974 however in 1994 the brand began to grow and set up at 214 Oxford Store. TOPSHOP first had a reputation of being a tacky low price clothing outlet. As the brand started growing they created TOPSHOP ‘plus to appeal to a larger market and compete with potential market competitors, which has now earned the fame of now leading fashion retailer. This success is owed to market strategy made in 1994 by going upscale. TOPSHOP ‘plus products will arrive first in the market and will be of high quality and very low comparative price. TOPSHOP plus stock up to date fashion clothes and accessories before any of its competitors does in the market because of the brand status many sellers want to work with TOPSHOP as they have so much publicity and celebrity endorsement. The endorsement from the British super model Kate Moss acted to strengthen Top Shops image as being first class in fashion clothing additionally the collection arrived in stores, designed to capture the models unique sense of style, Kate Moss for Top shop was one of the most hotly anticipated high street collaborations. Over time, TOPSHOP will come to be known not only as just the fashion accessory provider but much rather a trend setter especially with its in-house designer brands and those exclusively introduced and introduced by fashion industry leaders. Due to its various marketing efforts, innovations in the business and exclusive services for its customers, it is now the biggest and the most differentiated name in the fashion industry especially when it comes to retailers in the field.