Legal and Ethical Considerations Research Paper Example | Topics and Well Written Essays - 750 words

Legal and Ethical Considerations - Research Paper Example The document is significant because both the contractor and the client  are protected  in terms of legal and ethical issues. Contracts  provide  terms and conditions that are either verbal or written (Susan and Katherine, 2000). In this context, we  review  how conflicts arise due to disagreements between the client and the contractor whereby part of the  crucial  details  has been omitted  in the contract documents and; therefore, this eventually affects the  progress  of the intended project. In the project, that  is intended  to help the community and the hospital by the provision of water supply whereby a water reservoir is to built, the contractor and the management team of the BAMC disagree on the ongoing  project  of  reservoir  construction. The disagreement occurred because the location of the reservoir  is situated  on  hard  granite rocks that require  expertise  and heavy machinery to blast the rocks before construction  i s commenced. ... Some of the mutual solutions that the contractor and the management team decided include the relocation of the reservoir site. The  reservoir  is supposed  to help the community and the hospital; therefore, the location should be at a central location. On the other side, if the  entire  location  is composed  of the hard rocks, then the  management  personnel of BAMC should reconsider the  compensation  of the contractors because the rocky  place  will require heavy  machinery  for blasting the rocks and this may be quite  costly  to the contractors. For a  consensus  to be achieved, both parties need to  comply  to the need of the other so that no  party  feels oppressed. A matter of  vast  concern  to contractors is how they can  make  stability  between quality and  security  against expenditure. Contractors  want  to  plan  a product that is of high quality but the  business  administrators  want  to  maintain  a low cost in the expense of quality product. At the end of this, various issues, which include business, official, and ethical issues, arise (Creswell, 2002). The  business  matters evolve around what organizations must do in order to  compete  in the business sector. The officially authorized and  moral  issues centers around what the organization should do. The contractor has a legal  responsibility  to  grant  safe  services and products. However, the contractor is legally responsible only for contractual  indemnity  and not for any additional destruction that the client may incur.  Although if the contractor commits fraud  deliberately, then he or she may be criminally  accountable  for the fraud committed. There are  various  challenges that are facing

Current Recession Essay Example | Topics and Well Written Essays - 1500 words

Current Recession - Essay Example Most of the countries depend on the resources and facilities from other neighboring countries. But this downfall has stopped exchange among the continents. Recession has created an impact on the banking sector, financial institutions and other credit related industries. Recession has occurred in the past also, but was not so severe like the present recession. The financial crisis started in America and then prevailed to the other countries. This in turn affected the development in all the countries. Though the previous recessions has incurred loss and lead to unemployment, this time it has been more than the previous recession. There is a dramatic increase in the unemployment rate and this has lead to the increase in debts. Financial stability has gone down which left many companies at a sad state. Financial policies should suit the current recession and must help in improving the financial crisis. Government has taken measures to improve the financial situation.(Nigam 2009). As the financial industries were the worst hit by recession, the companies which were depending on those financial services went down immediately. Economic depression has been prevailing from the downfall and it is still in the improvement state. Although most of the financial concerns tried to overcome the During this recession, many new policies and strategies were introduced by the government to improve the situation of the industries as well as the economy. Established concerns and the ones with a better financial background only survive the recession. Other small and financially not so strong companies had to wind up their business.(Burgan 2002). As they could not bear the recession and its effects, many people were pushed out of their job. Out of the various policies, only some could help in improving the current situation. One among them is Keynesian policy, which mainly concentrated on the economic status. Keynes introduced a system which had a simple and basic strategy.