CIPD Factsheet The psychological contract Revised July 2011 ------------------------------------------------- What is the psychological contract? The term ’psychological contract ’ was first used in the early 1960s but became more popular following the economic downturn in the early 1990s. It has been defined as ’…the perceptions of the two parties‚ employee and employer‚ of what their mutual obligations are towards each other ’1. These obligations will often be informal and imprecise:
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Case Scenario: Big Time Toymaker Big Time Toymaker (BTT) develops‚ manufactures‚ and distributes board games and other toys to the United States‚ Mexico‚ and Canada. Chou is the inventor of a new strategy game he named Strat. BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25‚000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution contract existed unless
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“Freedom of contract is the bedrock of English private law” Freedom of contract is defined as the: “Right of an adult to make a legally binding mutual agreement with one or more other persons‚ without governmental interference as to what type of obligations he or she can take upon himself or herself.”[1] English law has for a while now been known as believing in freedom of contract. This means that the state has not‚ normally‚ enforced legislation which has got in the way when it comes to the
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Formation of contract The green van Hubert’s initial e-mail is merely an invitation to treat‚ demonstrating only a willingness to negotiate rather than an intention to be bound by acceptance. The response from Philip to Hubert’s preliminary enquiry about the green van is‚ however‚ clearly an offer. There is intention to be bound by acceptance‚ demonstrated by the expression “when do you want it?”‚ combined with identification of the essential elements – the price (£30‚000) and the subjects (the
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example‚ the fact that nearly 91% of Americans live in a moderate to high risk of natural disasters‚ only 16% take a preparation for natural disaster. This lack of preparation takes place in different places and involves different hazards. In the case of hurricane‚ only half of all respondents living in Central Florida have hurricane evacuation plan in place . Another finding revealed that only 8 percent of all respondent have prepared a disaster supplies kit in home. Scientists found that most
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cost to end users through superior overall performance. Leader in quality ‚ performance and technological innovation Product lines Carton sealing and industrial tapes Specialized adhesives Other packaging products K2 tape – Manufactured using patented technology and a brand name for pressure sensitive carton sealing tape Very high tensile strength and sheer resistance Positioning High Price K2 Products Low Quality High Quality Ipack Tensile New Product Low Price
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table‚ including sales price‚ variable costs‚ unit sales‚ and the unit growth rate‚ are all most likely‚ or base-case‚ values‚ and the resulting $25‚517 NPV shown in Part 5 is called the base-case NPV. Now we ask a series of "what if" questions: "What if unit sales falls 30 percent below the most likely level?" In our sensitivity analysis we hold the other variables at their base case levels and then examine the situation when the key variables change. Each new calculated NPV is plotted on the graph
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that could benefit from one of my products. After striking an implied business deal with Marshall‚ our companies begin to flourish with the recent interest in the benefits of Muscadines. As business continues to flourish‚ Marshall takes it upon himself to secretly coerce my 17-year-old son into signing a contract unbeknownst to me. Now that a better business opportunity has presented itself to my company‚ Marshall is using this contact to hinder me from expansion. Implied Contracts Upon discovery
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What is Contract? Discuss Essentials of Contact. According to Section 2 (h) of the Indian Contact Act‚ 1872‚ "A contract is “an agreement enforceable by law”. A contract therefore‚ is an agreement the object of which is to create a legal obligation i.e.‚ a duty enforceable by law. From the above definition‚ we find that a contract essentially consists of two elements: (1) An agreement and (2) Legal obligation i.e.‚ a duty enforceable by law. As per section 2 (e) "Every promise and every set of
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The Worst Campus Recruiter --------------------- COMM/215 March 14‚ 2013 ----------------------- Introduction Carl Robins made many mistakes during his first recruitment by not preparing properly. This case study analyzes the errors that Carl made during the hiring process. The series of unfortunate events could have been avoided if Carl Robins would have managed his time properly. There are many reasons why Carl failed in his assignment to recruit the new hires: first his supervisor‚ Monica
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