contrary case, Business Law and Ethics

Assignment Help:

a) Two family businesses are competing in the same industry, and have been bitter rivals since their early days.  The feud eventually extended into the personal lives of each family, where even the children were taught to dislike their rivals since birth.  While stubborn rivalries of the owners intensified, other competitors have steadily taken market share away from both companies.  The old owners eventually retired, and the troubled businesses were taken over by their children.  One day, the president of Company A called for a meeting with the president of Company B.  Surprised that the perceived enemy would do so, the meeting was agreed to.  At the meeting, the two presidents discussed the nature of their rivalry, its history, its negative effects on both businesses and families, and decided that it is best to try to end it.  Teams from both sides drafted up various proposals which formed the basis of cooperation, and a deal was struck.  Both sides were initially suspicious of each other, and the relationship was very fragile.  Neither side knew for sure whether the deal would end up being a takeover plot, an elaborate scheme of corporate espionage, or some trap.  However, both sides also knew that pursuing their rivalry would eventually destroy both businesses and decide to build trust, believing the other meant well.

b) This is a good example of a contrary case because:

  • The fathers of each family developed and nurtured their hostility towards each other, while their children reflected on it.
  • The end of the inherited feud was initiated by a decision to communicate and cooperate, even though each side was weary to trust the other.
  • There were no guarantees that either side will uphold the deal, the deal was motivated by rational necessity for mutual benefit.
  • The motivations of both sides were questioned, and the decisions of both presidents were guided by logic, despite unknowns and lack of certainty.
  • Both sides were willing to take a leap of faith to trust the other side after reasoned and rational consideration of their situation.

c)

FAITH

IRRATIONALITY

Trust

Self-reflection

Connecting over uncertainty

Rational necessity

Path to mutual benefit

Changer of nature of relationships

Catalyst to social connections

Nurtured emotional state

Detrimental to welfare

Emotionality

Inherited way of being

Ill intention

Stubbornness


Related Discussions:- contrary case

How can an employee invoke constructive dismissal, Question 1: "Constru...

Question 1: "Constructive Dismissal is inherently different from dismissal in the sense that it is the employee who necessarily takes the initiative in considering the contrac

Evaluate nature of phoenix activity, Q. Evaluate nature of phoenix activity...

Q. Evaluate nature of phoenix activity? The literature on phoenix activity and the stakeholders consulted in this project emphasised that phoenix activity has evolved significa

Civil remedies by a copyright owner, QUESTION 1 (a) List down the remed...

QUESTION 1 (a) List down the remedies that are available for breach of contract (b) Elaborate on two of them QUESTION 2 What are the duties of seller and buyer under

Who is liable to income tax?, QUESTION 1 Discuss the legal relationship...

QUESTION 1 Discuss the legal relationship between a bank and its customer with reference to the responsibilities of the parties towards each other QUESTION 2 (a) Examin

Mode of reduction - alteration of capital, Mode of Reduction: S.68 (1)...

Mode of Reduction: S.68 (1) expressly states that a company may reduce its capital "in any way". There is therefore no statutorily prescribed mode of reduction and the actual

Regulations regarding hazardous substances, REGULATIONS REGARDING HAZARDOUS...

REGULATIONS REGARDING HAZARDOUS SUBSTANCES A hazardous substance has the potential to harm. It may cause harm to human beings, other living creatures, plants, microorganisms, p

Legal differences between a custodian and managing trustee, QUESTION 1 ...

QUESTION 1 Discuss the possible defences available to a trustee in proceedings for breach of trust QUESTION 2 Consider the legal differences between a custodian and a m

AUDITING, EXPLAIN THE KNGSTON COTTON MILL CASE

EXPLAIN THE KNGSTON COTTON MILL CASE

High court registrars, High Court Registrars Therefore these are magis...

High Court Registrars Therefore these are magistrates that who in addition to judicial functions perform administrative responsibility. Thus they are appointed through the Jud

Functions of law, Functions of Law: we discuss like, how can be utiliz...

Functions of Law: we discuss like, how can be utilized Functions of Law:;- are (i)         For Rules of law facilitate administration of justice.  It is an instrument used

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd