Antitrust Practices and Market Power
It is important to realize the reason that Microsoft was investigated for possibly violating antitrust laws at the turn of the millennium. The company had established something of a natural monopoly of the software market (which is distinct from a government monopoly), and was leveraging its considerable market power to systematically eliminate its competition. It is legal to establish a monopoly in any given industry; yet it is illegal to "use certain practices that have no commercial justification in an effort to further entrench the monopoly" (Hazlett et al., 2000, p. 46). Microsoft was not charged with price fixing, and instead was investigated due to activity such as its penchant for fostering exclusive contracts and for withholding its operating system from certain competitors (Hazlett et al., 2000, p. 46).
Microsoft was investigated specifically under the Sherman Antitrust Act, particularly the first two sections which state…… [Read More]
Microsoft Antitrust Case
Antitrust Practices and Market Power
Antitrust case: 2001 antitrust Microsoft settlement
Microsoft Windows is such a ubiquitous piece of software, it is virtually impossible to imagine using a computer without it. Even though many people dislike the system, to function in contemporary life requires most students and workers to be familiar with the product. This lack of de facto choice has led Microsoft to become the subject of numerous antitrust lawsuits, the longest and most extensive of which involved its built-in Internet browser, Internet Explorer. The government alleged that by bundling IE into Microsoft Windows, it subjected other browsers to unfair competitive practices and limited consumer choice. During the lawsuit: Microsoft contended "that it, and it alone, should be the arbiter of what new software is bundled into its Windows operating system, the equivalent of the central nervous system on 90% of personal computers. Besides, Microsoft contends,…… [Read More]
Antitrust Practice and Market Power
Antitrust Practices and Market Power
government promulgates antitrust law to prohibit unfair business practices in the United States and enhancing competitions within the U.S. marketplace. Several business practices are considered illegal under the antitrust law and these practices include illegal monopoly, price fixing, illegally discouraging competition, and bid rigging. For example, Sherman Antitrust Act of 1890 prohibits monopolizing the interstate commerce, bid rigging, and price fixing. Moreover, The Clayton Act of 1914 also prohibits all form of merger and acquisition that could restrict competition. Companies considered violating the antitrust law may be subjected to fines and the officials may face jail term.
Why were firm(s) being Investigated for the Antitrust Behavior?
The government can investigate firms for antitrust behaviors if the government suspects that a firm is carrying out the antitrust business behaviors that could violate antitrust law. An issue of Microsoft vs. Department of…… [Read More]
Anti-Trust and EBooks
Within the contemporary economic environment, there are a number of systems and agreements between parties in the purchase/consume transaction. In any given marketplace, there are ways that businesses approach competition. If one business dominates the market and does not allow for equal or fair competition, a monopoly exists (geography, scale, technological coercive, etc.). Monopolies define and regulate the competition in markets; oligopoly changes this rubric to a small number of sellers controlling the market. Price and access are some of the ways in which market share and market competition continue to evolve. Price, of course, is the amount of payment required for a good or service. Price-fixing, though, is an agreement reached between businesses to buy or sell at fixed (manipulated) prices in order to control the market. The major difference between a monopoly and an oligopoly is the number of players that are manipulating the market…… [Read More]
Antitrust Practices and Market Power: Google Antitrust Behavior
Economic theory expresses that competition contributes substantially to the efficient operations of markets, and hence to the improvement of a nation's wealth status. Antitrust laws seek to foster competition in the marketplace and to consequently ensure that the welfare of consumers is maximized through the provision of low-priced high-quality products. This the laws do by preventing the emergence of cartels and monopolies, which impede on competition by creating barriers to entry, with the help of which they are able to obtain market power and consequently drive market prices to favor them. Although monopolies may result from either government action or natural reasons, in which case they are referred to as government and natural monopolies respectively, most monopolies are formed through exclusivity contract arrangements, mergers, acquisitions, and collusion. Antitrust laws work at limiting these.
The Costs of Antitrust Behavior
A number of companies…… [Read More]
Antitrust Laws: Apple's Case
Competition is a vital element of any vibrant marketplace. Thanks to competition, both businesses and individuals get to benefit from lower prices, increased product variety, higher-quality commodities, and greater innovation. Antitrust laws are meant to ensure that consumers are protected from unfair business practices and anticompetitive mergers, and that consequently, effective levels of competition are created and sustained in the economy.
Antitrust laws differ from country to country and, at times, from jurisdiction to jurisdiction. In the U.S., antitrust laws include the Sherman Act of 1890 and the Federal Trade Commission and Clayton Acts, both of 1914 (FTC, 2014). The Sherman Act, whose violation is punishable by criminal law, outlaws any attempts to monopolize a market or restrain trade through rig bids, divide markets, or price fixation (FTC, 2014). The Federal Trade Commission Act, on the other hand, illegalizes any '"unfair methods of competition' and 'unfair…… [Read More]
(discuss them and then choose one that would possibly work)
One possible solution for this anti-trust problem, which is currently proposed by authorities, is that Microsoft should allow its competitors to access its information database. In this way, the competition could build new applications that are compatible with the Microsoft operating systems - Windows so would not be affected by the Microsoft strategy to develop an integral and connected line of products. Another solution could be the individual taxation of Microsoft due to its market power. In this case, the taxes that could be as high as 0% from the total profits and would unfairly tax the advantage taken in time by Microsoft. The money for this tax could be otherwise used by Microsoft for development plans, or why not for resolving social aspects - the poverty reduction of third world countries.
Another answer proposed by analysts in this case…… [Read More]
I don't have the proper bibliographical info for the book chapters. I noted the number from the two PDFs of the book where appropriate. You might wish to add the proper info and change the notes to fit.
MAKET CONDITIONS in the U.S.: It would seem highly unlikely that this information alone would be sufficient to bring an antitrust action. Prudent and even gutsy or aggressive business people might well seek such information to generate a competitive advantage with little intention toward manipulating the market (Fried Frank, 2002). Even if it does lean toward some expected restraint of trade (Sherman Act), what is occurring at this point clearly passes the reasonableness test. Talking of such issues is not collusive price fixing and suggests no conscious parallelism, for example, which might indicate that their association is for inappropriate purposes (pg. 468).
DETAILS of INDIVIDUAL SALES: In this instance the burden…… [Read More]
Antitrust Practices and Market Power
The modern business environment is increasingly characterized by the proliferation of emerging monopolies in various industries. One of the industries that have experienced an increase in budding monopolies is Information Technology, particularly with the growth and development of social media and networks. Technology companies have rapidly developed into monopolies because of the connection between attractive business opportunities. The growth of leading technology companies into monopolies has also been fueled by their efforts to gain and maintain market power. However, some of these companies such as Google, AT&T, Standard Oil, Microsoft, and Facebook have been investigated for antitrust behavior.
Similar to Google, Facebook is company whose growth and development is partly attributed to the failure by Microsoft to strangle it like it did to Netscape a decade before. Facebook's business and operations are entirely built on focusing on developing network effects since the firm's value for…… [Read More]
Antitrust practices and market power: Microsoft
One of the most famous and prolonged cases involving antitrust allegations was that of the suit brought about by the Department of Justice against the Microsoft Corporation. It was alleged that Microsoft's act of 'bundling' specific applications such as its web browser, Internet Explorer and Windows Media Player to make them the default setting of its Windows operating system resulted in anticompetitive practices within the software industry. The European Union also waged an antitrust case against Microsoft, and its findings against the company were even more broad and sweeping than in the United States. As a result, in the EU, Microsoft "was not allowed to offer any technological, commercial, or contractual term or inducement to make the bundled version the more attractive, and a monitoring trustee was required to ensure that the unbundled version of Windows works as well as…… [Read More]
Online AntiTrust Issues
Antitrust law is a United States legal code that helps to maintain market competition by regulating anti-competition actions by organizations. The Sherman Act of 1890 was one of the first attempts to restrict large companies who fixed price, output and then manipulated demand to maximize their products. Standard Oil was one of the prime early examples of a company that controlled markets to the point that the government felt was detrimental to the entry of other competitors (Bork, 1993). In our current example, companies like Facebook and Google are being investigated, similar to Microsoft and AT&T, for controlling the Internet search process and/or network effects. This does not stop with Facebook and Google, but moves into many of the giant e-tailers (Amazon, EBay, etc.) that often use predatory or collusive practices to force customers into either advertising on their site, pricing to their scale, or in the…… [Read More]
International Social Science eview, 85(1-2), 62-63.
Halachmi, a. & Bouckaert, G. (1996). Organizational performance and measurement in the public sector. Westport, CT: Quorum Books.
How has congressional agenda setting changed over time?
The agenda of the U.S. Congress has been closely aligned with its role as the legislative branch of the U.S. government. According to Black's Law Dictionary (1991), "The first Congress under the Constitution met on March 4, 1789 in the Federal Hall in New York City" (p. 301). Indeed, the creation of the U.S. Congress coincided with the adoption of the U.S. Constitution. In this regard, Black's (1991) adds that, the U.S. Congress was created pursuant to Article I, Section 1, of the Constitution, adopted by the Constitutional Convention on September 17, 1787 providing that "all legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and…… [Read More]
Additionally, he argued that the best interest of the consumers, as promoted by Gate's organization, was in fact not the core element of new endeavors, as the company had argued, but that whenever a new product or service was being projected, this would be done in order to serve the financial interests of the organization rather than increase customer utility (Kegel, 2006).
In order to better understand why the above mentioned actions were ethical or unethical, it is best to assess them in light of three ethical perspectives. From the standpoint of the utilitarian perspective, the company is able to seek out those actions which maximize its gains, but in doing this, it must remain aware of the needs of others. More specifically, they can work towards their goals as long as these do not impede with the goals of others (Leiss, 1988). From this standpoint, the behavior of Microsoft…… [Read More]
Unethical Business esearch Practices
What unethical research behavior was involved?
The antitrust case brought by Wal-Mart and other retailers against Visa and MasterCard in the U.S. Eastern District court, was settled in 2003 for $3 billion and primarily involved a dispute concerning the efficient pricing of access to payment information, including security data that confirmed or refuted the transactional identities of cardholders (oberds & Schreft, 2009). In their pleadings, Wal-Mart and other class action litigants argued that third-party providers such as Visa and MasterCard required them to accept both debit and credit cards issued by MasterCard but the interchange fees were higher for debit cards (Ulzheimer, 2012). In sum, the suit filed by Wal-Mart and other large retailers claimed that Visa and MasterCard "required all merchants who accept their credit cards to also accept their signature debit cards [which] constitutes an illegal tie-in in violation of antitrust law" (Peterson, 2002,…… [Read More]
channel management practices that have been developed via thorough research and analysis of the world's leading companies?
Channel management is a process that entails managing the relationship between a vendor and the third parties used by them to get goods and products into client's hands, while making sure that the post-sales services and support are still of high quality. A channel can be either a one- or two-tier relationship. In the one-tier relationship, a vendor is selling products directly to a reseller; in the two-tier relationship, a vendor is selling to the third parties indirectly through a distributor. Effective channel management can help to greatly increase revenue and profit margins for vendors through creating incentives for channel partners to promote or market their own branded services and support; it is also useful to be able to achieve the right overall pricing for the end users[footnoteef:2]. [2:
KPMG. (2011). Leading practices…… [Read More]
After an eleven year investigation against Microsoft claiming it was trying to monopolize the web, the company finally settled with the Justice Department. Even though Microsoft was required to implement changes, the company maintains its dominance and has grown larger while being responsibly and adhering to the antitrust laws.
The Potential U.S. Case Against Google
An antitrust suit was filed against Google this year claiming the search giant is violating the antitrust laws. The Justice department has been looking at Google for some time now. In the fall of 2007, while Google was prepared to commit to a search ad deal with Yahoo, the justice department was planning to file suit if the deal hadn't fallen through with Yahoo.
Google is now becoming everyone's favorite antitrust target, rapidly replacing Microsoft. In February of this year a company called TradeComet.com, which operates a business-focused search service called SourceTool.com, filed an antitrust…… [Read More]
There are a number of different laws that govern fair, balanced and competitive practices. One major category is the antitrust laws. Antitrust laws seeks to create a competitive environment by preventing companies from obtaining the ability to abuse their market positions. Ensuring that each industry and market has a healthy amount of competition has been the work of a series of acts that govern antitrust practices.
The most significant piece of antitrust legislation is the Sherman Act, which was passed in 1890 in order to define antitrust activities. The act was passed in response to monopoly abuses on the part of a number of companies, and the recognition that a successful capitalist economy required at least enough market intervention on the part of government to prevent the formation of unnatural monopolies (FTC, 2014).
There have been subsequent laws that have enhanced the Sherman Act, and refined it, largely…… [Read More]
Although one cannot make a good case for asserting that any one component in and of itself constitutes a monopolistic practice (see, for example how the operating system's prices have remained low in the following graphs), as part of a greater plan to dominate the market, there certainly is a solid case. Although the penalty for Microsoft as a monopoly is hardly extreme, it will certainly serve as a model to both avoid, and watch out for in the future.
Table retrieved at http://www.gsm.uci.edu/~mckenzie/mantra.pdf
Bill Gates, the Economist, 6/13/98
Ralph Nader and James Love, Computerorld, 11/9/98
Economics Resource Center. "Policy Debate. Is Microsoft a Monopoly? http://www.swlearning.com/economics/policy_debates/microsoft.html
Economics Resource Center. "Policy Debate. Is Microsoft a Monopoly? http://www.swlearning.com/economics/policy_debates/microsoft.html
McKenzie, Richard. "Microsoft: The Monopoly Mantra." http://www.gsm.uci.edu/~mckenzie/mantra.pdf
http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft.html#the%20monopoly%20question zdnet. "Microsoft to Reveal indows Code. http://news.zdnet.com/2100-3513_22-948381.html
Branyencyclopedia.com. "Microsoft Anti-trust Case." 2004. eb site. Retrieved on September 30, 2004 http://www.brainyencyclopedia.com/encyclopedia/m/mi/microsoft_antitrust_case.html…… [Read More]
tension between businesses interests in maximizing profits and the public's interest in receiving complete, truthful, and non-misleading information about products that they purchase.
The dangers against greenwashing are that consumers will have no confidence in the products or services they are buying. This means that they will not purchase specific items. As they feel they are being deceived and cheated through false labeling / misrepresentation. At the same time, there is the possibility that a firm could face penalties from government regulators who feel that they are engaging in false advertising. This will have a negative impact on the image of the organization and their ability to address the needs of customers in the future. ("Six Sins of Greenwashing," 2007)
For an executive; it is advisable to not practice these kinds of policies. The reason why is because it will hurt the brand image of the products they are selling…… [Read More]
Monopolies and Trusts:
Appropriate Areas for Government Intervention?
Capitalism is the economic system that has dominated the United States virtually since the day of its independence. A social and economic system based on the recognition of individual rights; capitalism demands that owners' rights to control, enjoy, and dispose of their own property must be respected. In a capitalist system, the purpose of government is to protect individual economic rights, and to make sure that no one individual, or group may employ physical or coercive force upon any other group or individual. The success of capitalism is well evident. The surpluses that this system produces have enabled individuals to experiment; to create new products, and market new ideas. These private surpluses are traded in a free market in direct competition with other buyers and sellers. Such competition is best represented by the efforts of two or more parties acting independently to…… [Read More]
Of course, this is a good thing for customers on short-term, but is negatively affects other companies on the market. This is because smaller competitors and especially those that intend to enter the market addressed by IBM find it at least difficult to provide product prices in accordance with those provided by IBM. These smaller companies do not have the ability of reducing their production or operating costs, which does not allow them to introduce competitive prices on the market. This way, they are clearly disfavored by IBM's position and market power.
In addition to this, in a field like it, it is imperative to make continuous investments into the research and development activity. This requires significant capital amounts from these companies. The investment levels that IBM reaches cannot be reached by many of these companies. This makes it difficult for these companies to keep up with IBM and its…… [Read More]
Independent dealers must sign a contract that sets forth the manner in which they will operate their rental centers. Often a small business owner will supplement their income be adding U-Hauls to their market mix. Independent contractors earn a commission on their sales.
Each division of AMERCO has it own president. All of them must report to a Board of Directors. The Chairman of the Board and overall President is Edward Shoen, descendent of the original founders of the company. Many members of the Shoen family still control much of the company (Google Finance). Little information is available about the company, aside from their financial statements. Although they have a Board of Directors, the company continues to operate as a family-style operation, with the family members occupying many positions in upper management. The company structure is simple and little is available beyond basic information.
Purchasing Contract Analysis and the UCC…… [Read More]
Grasso last year, contending that the $139.5 million payout that Mr. Grasso received in the summer of 2003 was exorbitant and in violation of New York's not-for-profit law, which states that executives at not-for-profit organizations, like the exchange, receive "reasonable" compensation. Mr. Spitzer has said he will seek more than $100 million back from Mr. Grasso. In his complaint, Mr. Spitzer cited the Webb report as crucial to his investigation. But until yesterday it remained confidential. The document describes some of the crucial points made in the complaint, among them that the board was misled about the size of Mr. Grasso's bonuses and that $13 million of his $139.5 million payment was vested when in fact it was not (THOMAS and Anderson 2005).
The antitrust authorities should permit Microsoft to merge with Yahoo because it will be more profitable in the end. This is due to the fact that…… [Read More]
alt Disney Company Scenario
Scene: Fiscal Karat (FK), host of TV's Let's Talk Money, is seated at the center of an oak conference table. Let's Talk Money is a weekly PBS talk show that interviews business leaders and often finds government officials to debate certain ideas and programs. Tonight's episode features Mr. Michael McDuck (MM), CEO of alt Disney Company and Mr. Rigid B. Crat (RC), Senior Administrator for the U.S. Treasury's Anti-trust Division.
FK: Good evening and welcome to Let's Talk Money, your weekly adventure into provocative and interesting monetary topics ranging from mild to wild. Tonight, a special treat for the kid in us all -- Michael McDuck, CEO of alt Disney goes head to head with the Administration's Senior Anti-Trust Maven, Rigid B. Crat. elcome gentlemen!
First though, let's take a moment to establish a bit of background. The alt Disney Company is a multinational mass media…… [Read More]
Microsoft Anti-Trust Case
Microsoft was charged with using its position as an industry leader in computer software to force buyers to buy products that were bundled with Internet Explorer. The claim was considered a breach of anti-trust laws which declared that a company cannot package two products together based on one's popularity or market position with the consumer (U.S. v. Microsoft, 2002-2006). Microsoft has denied such claims that they took an unfair advantage of the market and consumer in order to strengthen an already dominant position in the industry (Hemphill, 2004). Especially in the case of the product coming from a company that has domination over the software industry such as Microsoft.
The Internet Explorer browser was not sold but given as a free product with the purchase of the Operating System by Microsoft. This is done by many companies throughout the industry. However when Microsoft applied this marketing principle,…… [Read More]
Private University is selling a share, or something else. At the outset of the Act, "security" is defined as "any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate…" and many others are subject to the law. The key is that the security creates a share of income for the holder, whether in the form of debt or equity. Options for later purchase are also included in the definition of security.
The asset in question is a "share" that entitles the bearer to college credits in any school at the future date. A college credit is not a claim to a cash flow, nor it is claim to equity. Therefore, this is not a security. Rather, it is a coupon by which a product can later be acquired. There is no difference between this asset…… [Read More]
Coca-Cola Company. Specifically it will discuss and analyze the case study, including relevant facts and recommendations regarding the study. Coca-Cola is one of the most well-known and famous brands in the world, and it has been in existence since the late 1800s. This case study indicated that it faced several ethical issues in the last decade that eroded its credibility and created strife inside and outside the company.
The facts of Coca-Cola are legendary. One writer notes, "Both the Coca-Cola brand and company took an early lead in the soft-drink industry, for the brand achieved national distribution early on and the company has consistently dominated the industry" (Wolburg, 2003). Coca-Cola is one of the world's leading soft drink manufacturers, and they sell their product in at least 200 countries worldwide. They were the leading soft drink company for decades, and their main rival is PepsiCo, who they have been…… [Read More]
Sports have graduated in the last half of the twentieth century from hobbies or pastimes into the pure, unadulterated pursuit of profit. In short, shorts have become a commodity to be exploited as far as the market will allow. The history of American sports has seen this process play out in a stepwise fashion; every several years developments come about that enable the enterprise to expand and increase profits. The latest changes in business that have allowed sports to enlarge have been globalization and communications technologies. Clearly, these two go hand in hand to some extent. Still, both have contributed to the acceleration of the commodification of sports; they have aided its degeneration from a pastime, into the form we see today.
If you were to ask the average American what they thought was wrong with professional sports today they would likely tell you that the amount of money athletes…… [Read More]
Microsoft is a company that was found to be in violation of antitrust laws by both the U.S. Justice Department and the European Commissions. The reason behind such a finding, is that Microsoft acted in a manner that was found to be overly aggressive in regards to its operating systems and software. As the Weil and McMillan article wrote that it was "alleged that Microsoft harmed Netscape's browser business through anticompetitive practices related to the Windows operating system" (Weil, McMillan, 2003) while the United States vs. Microsoft article went even further by stating "critics contend that Microsoft used monopolistic business practices and anti-competitive strategies including refusal to deal and lying, put unreasonable restrictions in the use of its software and used misrepresentative marketing tactics" (United States, 2002, 2006).
It is this author's belief that it does not matter if a company is 'capitalistic' or not, most companies would not have…… [Read More]
Corporate Mergers and the Public Good
The United States of America, during the last years of the Nineteenth Century, witnessed a rash of corporate mergers. The Industrial Revolution had taken firm hold, and the nation was changing rapidly. Millions of Americans who had once been independent farmers or tradesmen now found themselves in the position of what some termed "wage slaves." At the mercy of their corporate employers, they worked long hours at low pay, and often under appalling conditions. The reasons for the merger mania of this period are many and complex, as are its effects upon the population as a whole. In breaking down the traditional vocational environment, the gigantic new conglomerates also transformed the entire social landscape. ork was no longer a family business shared by all generations. Communities no longer clung together for mutual protection and aid. Suddenly, the citizen of this new world was out…… [Read More]
Business Law (predators
Businesses often engage in predatory practices to deter their competitors from entering their market niches or send their competitors out of business. Certain business ventures usually reduce their prices to destroy their rivals or worse still discourage new entry into the market. This happens regardless of the existence of the Sherman Act that was enacted to prohibit this predatory practice. The Sherman Act has largely been considered vague because of its inability to reign in firms that engage in predatory pricing vice (Areeda & Turner, 1975). Business ventures that engage in predatory pricing tend to draw a very vague line between legitimately competitive prices and prices that are utterly predatory. Businesses that engage in predatory pricing normally price their products below appropriate measure of cost with an intention of driving their financially weaker competitors out of business and establishing monopoly power. Courts have failed to address the…… [Read More]
Otherwise, employers need no specific reason or excuse to terminate at will employment "at will." Even at will employees probably have legal recourse if fired for refusing to obey a law, but in this case, the "urging" did not have legal authority, so the issue is moot.
3. The Sherman Antitrust Act and the Clayton prohibit such "tying" arrangements where the entity maintains extensive control of product supply. Federal antitrust laws are administrated by the Department of Justice and the Federal Trade Commission 4. The Equal Protection Clause (applied to the states through the Due Process Clause) prohibit such a firing of employees based on their religious affiliation or their specific religious practices. But refusal to comply with perfectly legal directives of the employer is not religious discrimination; it is dismissal for cause.… [Read More]
During the consumer movement of the 1960s and 1970s, Congress enacted a substantial amount of legislation to protect "the good of the people." There is only one problem with consumer protection laws -- they are slow to react and even harder to enforce. As a result of this situation, corporations are allowed to profit at the expense of consumers' health. The resistance comes in a number of stages. The first is denial of the problem, wherein the corporations argue that there is not enough evidence to link their products with the negative outcomes that are being reported. Then there is the lobbying that causes politicians to defer action until a later date, or ignore the call to action altogether. Too often, when statutes are enacted, corporations fight them to the end, resulting in flawed legislation that either has loopholes, require interpretation from the judicial branch or is difficult…… [Read More]
Fault: An Alternative to the Current Tort-Based System in England and Wales
The United Kingdom
statistics regarding claims
THE NATIONAL HEALTH SYSTEM
OBSTACLES TO DUE PROCESS
THE CASE FOR REFORM
THE REGULATORY ENVIRONMENT
THE RISING COST OF LITIGATION
LORD WOOLF'S REFORMS
MORE COST CONTROLS
THE UNITED STATES
THE INSURANCE INDUSTRY
TORT REFORM IN AMERICA
STATISTICS FOR ERROR, INJURY AND DEATH
THE CALL FOR REFORM IN 2003: A FAMILIAR REFRAIN
THE UNITED STATES SITUATION, IN SUMMARY
NEW ZEALAND CASE STUDIES
THE SWEDISH SCHEME
COMPARISON: WHICH SYSTEM IS BETTER?
FIRST: UNDERLYING DIFFERENCES
TALKING TORT: AMERICAN PECULIARITIES
AMERICANS CONSIDER NO-FAULT
BRITAIN CONSIDERS NO-FAULT
Appendix A THE UNITED KINGDOM
At issue is the economic effectiveness of tort law in the common law legal system of England and Wales, as applied to medical and clinical negligence and malpractice cases. In response to economic concerns and a continual…… [Read More]
This study analyzes outsourcing trends in the next decade. The study assesses this by focusing on the past and current trends, problems and issues in outsourcing via semi-structured interviews. Major trends and processes will be revealed and assessed for their relevancy, depth and breadth.
Companies belonging to most industries are very much considered to be the units that are vertically integrated, or so-called usual industrial firms (Stigler, 1951), where activities in all links in value chain have been internally conducted. For example, gasoline of its own is delivered by 7-Eleven and it is also used to make ice and candy, also it had cows for producing milk which it previously used to sell (Gottfredson et al., 2005). At present, it is not delivering gasoline and ice or candy is not being made by it neither does it posses any cows. Contrarily, IBM used to make the computers containing their…… [Read More]
Non-Profit and for-Profit Ethical and Liability Issues
This paper examines the ethical and liability issues that non-profit corporations and for-profit businesses face, and compares them.
Non-Profit Corporations and For-Profit Business: Comparison of the Ethical and Liability Issues that are Faced by Both There have been a lot of scandals lately regarding large for-profit businesses. These scandals stem from both ethical and legal issues. Many of these scandals have resulted in lawsuits and even criminal proceedings against those who have been involved with them. The true extent of corporate liability is just beginning to be seen in our society. We are watching the large corporations of this country ever more closely now, in order to make sure that they are acting in an ethical manner. The corporations, for their part, are being extra careful in their actions and words, fully aware of the liability that they are under should anything they…… [Read More]
This strategy was successful for some time but when WorldCom tried to acquire MCI (a company with two times more revenues than WorldCom), the binge of acquisitions was ended due to objections from antitrust and other stakeholders.
WorldCom's strategy was to display revenues and profits in extremely positive basket; for which the company had to make false misstatements in their accounting records. I think, it was the social and ethical responsibility of WorldCom to avoid misinterpretations in their financial statements and to show clear picture of the company to its stakeholders.
This strategy resulted in expansion of WorldCom through acquisitions and the expansion became so huge that the management of WorldCom was unable to handle the business. The debt of the company touched $41billion with $11billion of accounting frauds and misinterpretations. These all were the fruits of strategies implemented by Ebber just to display a very sound and positive picture…… [Read More]
The author of this report is asked to answer a series of questions relating to intellectual capital (IC), both in general and in relation to Apple Corporation. The first question asks whether the organizational structure of Apple considers intellectual capital an asset. The second question asks how have ethical policies and practices affected the organization's intellectual capital and its value. The third question asks what strengths and weaknesses exist in structure and ethics. The fourth item asks the author to offer recommendations relating to increasing the value of the organization's intellectual capital based on structure and ethics (Apple, 2013).
As for the first question, Apple's intellectual capital is absolutely an asset. Their structure and especially their brand names and patents are the core (pardon the pun) of Apple's strength and resilience. Their innovation and brand presence allow them to sell MP3 players for far high price…… [Read More]
Com industry crash after the boom
This is a paper examining some of the factors that caused the dot-com crash
Many believe the root cause of the dot-com crash was over valuation of stock prices relative to the actual underlying value of the companies themselves. Stocks of Internet companies traded at Price-Earning ratios of higher then 30, buoyed by a speculative bubble. When reality set in for investors many realized that the companies that they were so heavily invested in were little more then money sucking black holes with no upside potential in the near or long-term future. This triggered mass self-offs of not only Internet related stocks but soon impacted the market value of many companies associated with computer, network or telecommunications industries.
This paper will show in fact that over valuation was more a symptom of the speculative boom and was only one of the multifaceted factors that…… [Read More]
Role of Labor Unions in Industrial Relations
In their definition, labor unions have always been known as organizations that have always aimed at getting their members both financial and non-financial benefits. The role of labor unions is however bigger than that and they have been known to aid in helping employers improve the productivity and discipline of their workers. Labor unions respond to issues differently. This is explained by the differences in industrial relations contexts and also policies of different states as well as strategies of the various employers around the country.
Employees come together to form a labor union to achieve a common goal. Labor unions have several goals. Some of the goals include agitating for higher retirement benefits as well as other benefits for its members. They also seek to increase the number of workers assigned for specific job tasks. They ensure that employees work under good and…… [Read More]
Contracts, Contract Law, And Society
Contracts are legally-binding agreements between two or more self-regulating parties for the purpose of furthering their commercial goals (Eisenberg, 1994). The elements of contracts, together with the laws that provide protections for the parties involved, are theoretically straightforward and appeal to common sense principles, but in practice the forging of contracts and their enforcement can at times be complex. The theories and principles that underlie contract law also remain somewhat controversial and refractory to unequivocal definitions (Schwartz & Scott, 2003). To gain a better understanding of why contracts are so important to society this essay will review the essential element of contracts and the theories supporting their use, from a social, economic, and legal perspective.
Elements of a Contract
The four basic elements of a contract are: (1) mutual assent, (2) consideration, (3) capacity, and (4) legality (Legal Information Institute, 2010). Mutual assent…… [Read More]
Plus-size should not be neglected.
The colors palette should include a large number of colors, in order to satisfy as many customers as possible. An analysis on the most attractive swimwear models should be performed, in order to cover this segment.
Bikinis should be priced between 28 and 60 pounds, swimsuits should be priced between 28 and 90 pounds, cover ups should be priced between 30 and 100 pounds, and flip flops should be priced between 15 and 40 pounds.
The prices are rather high in comparison with competitors' prices.
The products will be distributed in each John Lewis outlet. Also, the products can be viewed and purchased online. The company should ensure discounts for online purchases.
The company should develop and implement an aggressive advertising campaign, especially in fashion magazines that the targeted customers read. In addition to this, the collection must be…… [Read More]
Principals of Marketing
Throughout history a wide variety of products have been introduced, which are having a tremendous impact on the way everyone is living their daily lives. One such example of this can be seen by looking no further than the I Pod. As this small device, began to redefine the way that everyone listens to music.
Part of reason for this, is because the digital music jukebox provides a wide selection of songs that can be listened to in format that is user friendly. At the same time, it is taking the idea of selling various songs individually to increase the overall bottom line of the company. This is significant, because it is showing how marketers were able to create a one of a kind product that can be used to generate a new way that everyone could listen to music.
At the heart of their basic strategy,…… [Read More]
Microsoft's strategies relating to leadership. First, an overview of the company will be provided, followed by a discussion of the company's leadership strategies. These strategies will be assessed as to their effectiveness, and compared to leading theories of effective management.
An Overview of Microsoft
Today, Microsoft is one of the world's largest businesses, and the world's largest and most influential software company (Wired News). The company's products have an extensive impact on both the personal and business world, and are seen in almost every office in North America.
Financially, Microsoft is a giant. Its founder, Bill Gates, was the richest man in the world in 2003, with a staggering estimated personal wealth of $40.7 billion dollars. He has been rated the richest man in the world for seven of the past eight years, and was ranked number two in 1997 (Wikipedia).
Microsoft's product range is varied, but focuses almost exclusively…… [Read More]
Forbes Magazine entitled, "In the Pill Box" discusses Walgreen's Drugstore and the challenge that it faces from Pharmacy Benefit Managers (PBM). The article begins by informing the reader of the astronomical growth of the Walgreen's company. The author explains that the company's stock has risen by 3,000% in the past 20 years and that the store plans to have over 7,000 stores by 2010. (Lambert) The article also asserts that the same-store sales increased by 9% in fiscal 2003. (Lambert)
The author contends that although the company is extremely success, there is a threat on the horizon. This threat comes in the form of Pharmacy Benefit Managers who show health organizations and employers how to make prescriptions drugs more cost effective. The article explains that PBM's often encourage these organizations to persuade patients to get long-term prescriptions through the mail instead of going to a pharmacy. Mail order pharmaceuticals are…… [Read More]
, 93 F. 3d 1358 (CA7 1996) for its statement that "monopsony pricing is analytically the same as monopoly...pricing and is so treated by the law." ased on this determination that the two concepts are analytically similar, the Court thus concludes that therefore "similar legal standards should apply to claims of monopolization and to claims of monopsonization." Reasoning that predatory-pricing is fundamentally an act of monopolization and that predatory-bidding is fundamentally an act of monopsonization, and that both claims involve the deliberate use of unilateral pricing measures for anticompetitive purposes, the Court finds that the logically same legal standard should therefore govern actions brought on both.
ased on this reasoning, the Court concludes that "the general theoretical similarities of monopoly and monopsony combined with the theoretical and practical similarities of predatory pricing and predatory bidding convince us that our two-pronged rooke Group test should apply to predatory-bidding claims." Accordingly, under…… [Read More]
The Dying Profession of Independent Physicians
In the past, it has always been the case that physicians were, for the most part, independent contractors who had working agreements with certain hospitals in their region. However, that is not the case anymore. Physicians are increasingly joining healthcare organizations because the costs of remaining autonomous are too strenuous. It does not matter that independent physicians, on average still make more than their group counterparts because there are too many advantages to joining a healthcare group. The primary advantage being the fact that the individual is no longer solely responsible for such tasks as billing and scheduling. Although joining a group may be advantageous in some ways, it is troubling in others. Patient care is sometimes lessened because, as with the government sponsored socialized medical practices that exist in other countries, the patient may have to wait longer for care and…… [Read More]
A favorite target for conspiracists today as well as in the past, a group of European intellectuals created the Order of the Illuminati in May 1776, in Bavaria, Germany, under the leadership of Adam Weishaupt (Atkins, 2002). In this regard, Stewart (2002) reports that, "The 'great' conspiracy organized in the last half of the eighteenth century through the efforts of a number of secret societies that were striving for a 'new order' of civilization to be governed by a small group of 'all-powerful rulers.' The most important of these societies, and the one to which all subsequent conspiracies could be traced, is the Illuminati founded in Bavaria on May 1, 1776 by Adam Weishaupt" (p. 424). According to Atkins, it was Weishaupt's fundamental and overriding goal to form a secret organization of elite members of Europe's leading citizens who could then strive to achieve the Enlightenment version of revolutionary social…… [Read More]
There have been several arguments with reference to the social impact of the Intellectual Property, and it has been observed that the Intellectual property law has been responsible for the promotion of the competitive forces in such a manner that 'antitrust law does not address, and may do so based on evidence that would be insufficient in an antitrust context' (Brinson, 1994). It is indeed a difficult practice related to the 'forced sharing to attain optimal competition' (Brinson, 1994), and it appear to be unwarranted 'in most antitrust contexts, and it is clear indication of the absent clear proof of market harm' (Thomas, 2006), although it is expected to 'constitute improved and comprehensive Intellectual Property policy, even in the presence of ambiguous evidence' (Brinson, 1994). The anti-trust law and the intellectual property law is expected to minimize the cost of three different things, which include, false positives, as per which…… [Read More]
Business and Society: The Microsoft Case
"Microsoft" is one of the most well-known and highly diversified computer software manufacturing organizations of the world, founded in 1975 by Bill Gates. Only after five years of its foundation, this company earned $8 million and this success has continued to date. It is still run by its founder and its success story continues, which has made it one of the most famous organization of the world.
Microsoft was the first company that introduced the first user friendly and affordable operating system for personal computers. It manufactures several products today including; windows family of operating systems for personal computers & servers, applications softwares that run on the windows family of operating systems, and the most famous and successful MS-Office Suite, which consists of ord, Excel, Power Point, Outlook and Access.
These applications are not only used by students and professionals but also by users…… [Read More]
One of these is Chapter 2 of Title 15, ubchapter 1, ection 45. This ection regulates unfair methods of commerce and competition. These methods are declared as unlawful under the act. The ection specifically relates to national and local practices, as opposed to foreign trade, and therefore applies to our proposed partnership. "Unfair" practices are defined as those practices that are likely to cause some injury to other businesses within the United tates, or involving material conduct within the United tates. When businesses engage in unfair or deceptive acts of commerce, they are obliged by law to provide remedies to all injured parties, whether foreign or domestic.
The herman Act of 1890 and all its amendments should also be carefully scrutinized and implemented in our partnership ventures. This Act is the basis upon which most antitrust American laws are built. Generally, businesses are prohibited from creating unfair competition in terms…… [Read More]
Healthcare: Clinical Integration
What is clinical integration
History of clinical integration
Goals of clinical integration
Importance of clinical integration
New payment models
Barriers to clinical integration
Lack of practitioner alignment
Lack of interoperability
How to achieve success in clinical integration
The future of health care systems
Physician acquisitions vs. clinical integration
HIEs -- solution to clinical integration?
Policy makers are beginning to appreciate the fact that only systemic change can effectively change, for the better, the manner of health care delivery in the U.S.; and that anything less would only alter the system's edges - with little or no substantial effect on cost-control, innovation-promotion, effectiveness of reward incentive schemes, coordination and coverage (AHA, 2010). Clinical integration has been found to be crucial to the change needed for the achievement of the aforementioned goals (AHA, 2010). Despite…… [Read More]
Long-Term amifications of the Ma Bell Breakup
The old Ma Bell was far from perfect, but she deserved her good name. -- Tom Nolle, 2003
Given its prospects, the new Ma Bell looks an awful lot like the old Ma Bell. And that's not a good thing. -- Shannon M. Heim, 2005
The dichotomy of views exemplified by the epigraph above is reflective of the love-hate relationship that Americans have always had with their telephone service provider. Following the breakup of AT&T, or "Ma Bell" in 1982, one of the few legal monopolies in the United States, seven so-called smaller regional "Baby Bells" long-distance providers were created, four of which remain in operation today. After almost a century in operation, the breakup of Ma Bell was followed by a wave of deregulation and competition that profoundly affected the telecommunications industry in both short- as well as long-term ways. To determine…… [Read More]
Response is expected to be multi-faceted and brutal.
Technological change represents another key threat. As new technologies emerge and the end needs of users shift, the existing industry paradigm can shift quickly and decisively. For example, if the personal computer were to become outmoded in the next ten years, AMD's capture of the market leading manufacturers would be worthless. This is entirely possible, given the pace of change. AMD must always be on top of change in the industry, or risk being left behind.
Lastly, there is the risk of talent defection. AMD relies on top talent to develop its technology, to market the products, and to fight the legal battles. If their supply of talent were to be compromised, either by Intel or by startups, AMD would find it increasingly difficult to compete. They must ensure that their human resources systems are sufficient to attract and retain the top…… [Read More]
It is too early to gauge the results of this initiative, although early results of 1 million downloads in two weeks are positive (Kharif, 2009).
Another competitor is Internet radio. This industry is fragmented, with hundreds if not thousands of operators. It has many of the same content advantages of satellite radio, including the ability to offer a wide range of formats. It is at a content disadvantage, however, because few if any Internet radio stations can afford the high-end talent that satellite radio has established. However, their cost structures are much lower as well, meaning that they can offer their product for free. As of 2006, an estimated 30 million Americans listened to Internet radio each week (Prince, 2006). The industry is at a disadvantage, however, in terms of its ability to measure its listenership. This in turn makes it difficult for Internet radio providers to compete for advertising…… [Read More]
Business - Management
External Environment Analysis
Southwest Airlines is the nation's low fair, high customer satisfaction airline. It mainly serves short haul cities, offering single class air transportation, which aims for the business commuter as well as leisure travelers. The North American Industry Classification System (NAICS) classifies Southwest Airlines as Scheduled Passenger Air Transportation - 481111 (North American Industry Classification System, 2011).
When conducting an external analysis it is important to look at Porter's five forces to determine the competitive strength and therefore magnetism of a market. Porter's five forces comprise five forces from horizontal competition and vertical competition. These forces are: threat of substitute products, the threat of established rivals, and the threat of new entrants, the bargaining power of suppliers and the bargaining power of customers (Porter's Five Forces a Model for Industry Analysis, 2010).
The first threat is that of the threat of new entrants into the…… [Read More]
Finance-dominated proponents also maintain that boom economic periods generate a more varied divergence of valuations that fuel merger activity (Medlen 2007). In this regard, Medlen concludes that, "Taken collectively, these understandings may explain some of the merger activity in booms, but they involve certain asymmetries that undercut their explanatory power. High stock valuations allow stock to be utilized as currency and collateral for takeovers; yet stock booms also make targets expensive" (p. 202). Moreover, despite the commonly held perception that mergers are a "quick and dirty" way to grow a business and achieve organizational goals, there remains a lack of convincing empirical evidence in support of this perception (Medlen 2007). As Medlen points out, an "anomalous fact about mergers concerns the lack of evidence that mergers are profitable. This fact begs the question: why then are mergers carried out with such frequency and with such large levels of capitalization?" (p.…… [Read More]
Marketing Communication Process
Google Inc. is an U.S. based multinational public corporation that operates primarily in the internet search function, cloud computing, as well as a range of different advertising solutions. The company is large and extremely multifaceted. Google develops a large number of services and products that are part of a larger suite of Google products. These products are offered for free to the end users and Google primarily generates the company's revenue stream from advertising. Although Google sells advertising through AdWords and other platforms, it must also promote itself with a marketing communication strategy.
Google has grown from modest roots to become one of the most admired companies in the world today. The company's official mission statement is "to organize the world's information and make it universally accessible and useful." However, the company is also known for something of an unofficial slogan which is "Don't be…… [Read More]
English Right of Set-Off and Combination in the Circumstance of Insolvency
The right of combination and set-off, as developed under English law offer a number of safeguards to banks and creditors in general. These rights were expanded under the principles that they were necessary to effect substantial justice and that they would stimulate economic growth and trade. In the following paper, I suggest that the judicial application of these rights has tended to unfairly favor banks at the expense of the individual customer, which may initially stimulate growth by encouraging banks to provide loans, but in the long-term may serve to deteriorate trade, particularly at the international level. Customers in other countries, particularly civil law countries, experience much more risk when they do business with an English bank, and hence may be better off refraining from bringing their enterprises there, or at any rate must be extremely careful in drawing…… [Read More]
Realistically this compliance and assistance should be sought and used before, during and after negotiations with other health care organizations with which this organization might merge or enter a joint venture. Furthermore, the proposed contract itself should be passed by the FTC's Office of the General Counsel or its designee for approval before final ratification of the contract.
In order to merge and operate in a joint venture acceptable to the FTC, the organization must be mindful of Title 15 of the U.S. Code, specifically Section 7 of the Clayton Act, 15 U.S.C. § 18, Sections 1 and 2 of the Sherman Act, 15 U.S.C. § 1, 2, and Section 5 of the Federal Trade Commission Act. In addition, due to the FTC's recent special interest in the mergers/joint ventures of health care organizations, particularly but not solely in connection with price fixing, the organization should assume that…… [Read More]