Fiduciary, regulatory, and contractual Essay Example | Topics and Well Written Essays - 500 words

Fiduciary, regulatory, and contractual - Essay Example For example, an individual entrusting their money to a bank to keep it safely or use it for investment purposes, in this case the bank acts as a fiduciary to the individual. In this type of relationship, an individual, in a vulnerable position, vest his or her confidence justifiably, in good faith and trust in the other person’s advice, assistance or some protection. In this relationship, good conscience needs the action of a fiduciary at any given time for the interest and benefit of the individual who trusts. To indicate that an individual is fiduciary only opens a new chapter and direction for further investigation and inquiry. To whom is the individual fiduciary? What are the obligations that the individual owe as a fiduciary? The norm of the law aims at shaping a conduct that is in existence due to imperfection. It may be used to proscribe conduct or in the calibration of incentives or even in changing individual preferences. Regulation can also be used in rule enforcement and monitoring as established by the legislation either primary or delegated (Griffiths-Baker 67). Regulations focus at creating constraints, limitation or creating a duty. It takes several different forms including self-regulation as exercised by several industries and companies through association of trades, contractual obligations that bind many parties together among others. State mandated regulation attempts outcome production that might not occur, prevent or even produce outcomes in several places to what might probably occur or prevent outcomes in several areas in different timescales that would occur. In this way, regulation is viewed as an artifact of the implementation of statements of policies. Examples of regulations include control of market entries, wages, prices, effects of pollution, approval of developments, employment of some people in various companies, standard of production for some goods.

Managing high performance Essay Example | Topics and Well Written Essays - 250 words

Managing high performance - Essay Example The Japanese culture is group oriented. Managers working in corporations in Japan always seek harmony and they try to avoid conflict. Negative criticism is typically avoided and when given is in a manner that is palatable to the recipient (Super-business). The use of teamwork is a practice that is used more in Japan than in the United States. This makes more feasible and effective to implement group incentives to raise the performance of the employees. One of the cons of teams in Japan is that teams seek the approval of upper management instead of making their own decisions. This dependency for approval hurts the creativity of teams. Japanese visualize teamwork as an essential element of their culture. Competition is more likely to occur in the United States than in Japan due to the differences in culture. â€Å"The society in Japan is largely homogeneous and middle class, whereas the American society is heavily heterogeneous, owing to the increased levels of immigration† (Differencebetween, 2010). Diversity influences the workplace more in the United States than in