MOIGC Assignment 2 Example | Topics and Well Written Essays - 3500 words

MOIGC 2 - Assignment Example This helped the firm to achieve competitive edge and creative adaptation for surviving in a turbulent economy. This paper is an extensive review of the leadership, cultural and structural activities implemented by Haier group. Innovation culture followed by Haier is described through its various initiatives such as Win-win model and OEC control groups. The paper also throws light on the various acquisition and expansion strategies which Haier took so as to achieve competitive edge. The company has evolved from being a profit oriented to customer oriented. The study has also analysed the critical relation between its internal innovation strategies and its importance while meeting the changing demands in a knowledge economy. Sufficient facts and information has been providing confirming that Haier has successfully established a fit state with the objective of maximising its opportunities for future innovation and gain sustainable competitive advantage. Marketers and analysts have long realized the importance of innovation. However, it is also true that for long term survival and success in any industry, it is essential to develop a powerful innovation culture. Such culture can be easily recognized within a firm which is known as an authentic and genuine innovator in the external marketplace. The culture is also known to harbour innovation friendly and dynamic environment in its internal workplace. It is also a known fact that innovation culture is very uncommon in the current business environment. A major factor behind this is the inclination towards predictability and stability as they are a readymade path for earning profit. On the contrary, innovation is about change and adaptation where survival and profits can be extremely difficult to achieve, at least during the first few years of implementation. So, innovation has become one of the top priorities for both large

International Commercial Arbitration and Privity of Contract Essay

International Commercial Arbitration and Privity of Contract - Essay Example What is international commercial arbitration? International commercial arbitration is a way in which parties can use an alternative method of dispute resolution on an international level. International law however does not clearly and concisely define what it is in reality. Alternatively, the UNCITRAL contains a Model Law which governs and defines more clearly international commercial arbitration as â€Å"any arbitration whether or not administered by a permanent arbitral institution†.1 David also provides a definition which states that ICA is a tool by which parties can settle a question by decisions of third parties â€Å"who derive their powers from a private agreement, not from the authorities of a State, and who are to decide the case on the basis of such an agreement†.2 Indeed, arbitration clauses are often specifically contained in contracts, which are specified as binding on the parties outside of court: ICA is binding privately according to the agreement of the parties.3 The purpose of the UNCITRAL Model Law is to aid states in reforming and brining up to date their national laws and regulations on the process of arbitration and it was adopted and implemented globally some 26 years ago.4 The Model Law is comprehensive and applies to all signatory states in many areas of ICA, including the recognition and enforcement of orders and awards, though states are not obliged to directly apply the law in their domain. Such countries prefer to use the Model Law as a framework which they adapt to coincide with their own national laws, economic systems, and public policy norms. Privity of Contract in International Commercial Arbitration Privity of contract requires that all parties to an agreement must voluntarily commit to the agreement for it to be enforceable; this is otherwise termed as mutual consent. In an ICA context, it can thus be applied to state that the parties to a contractual arbitration clause must voluntarily agree to the content of t he clause before it can be deemed binding upon the parties. Essentially, it is stated that arbitration without privity is not enforceable; particularly if â€Å"coercion, fraud,...[and]... lack of identity of the parties† is evident.5 Privity of contract thus aims to provide an equal playing field for both parties who come from different counties, as it allows them to rely on arbitration clauses in order â€Å"to be free of national procedural and substantive law†.6 ICA thus allows disputes which may arise between parties to become subject to regulations which are on a different level to the national laws of the parties so that claims concerning international privity of contract may be avoided. By agreeing on an alternative method of arbitration, both parties are able to be defined as autonomously agreeing to settle their disputes in a value-free manner. However, this again is differently viewed in practice, as many express concern in relation to privity of contract be cause parties to a contract may not be said to be parties to the international regulations on ICA. This claim is further aggravated by the fact that the UNCITRAL in particular is often altered or adjusted to fit in with national law, and its content is thus