Full Warranty


A full warranty means:

  1. The warrantor will fix or replace any defective product, including removal and reinstallation if necessary, free of charge.
  2. It is not limited in time (say, to one or two years).
  3. It does not either exclude or limit payment for consequential damages unless the exclusion or limitation is printed conspicuously on the face of the written warranty.
  4. If the product cannot be repaired or has not been repaired after a reasonable number of efforts to repair it, the consumer may choose between a refund and a replacement.
  5. The warrantor cannot impose duties on the consumer except reasonable duties (the warranty cannot require the consumer to ship a piano to the factory) or a duty not to modify the product.
  6. The warrantor is not required to fulfill the warranty terms if the problem was caused by damage to the product through unreasonable use.

A full warranty does not have to cover the whole product. It may cover only part of the product, such as the picture tube of a television set. Also, anyone who owns the product during the warranty period may invoke or use the warranty.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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21st Century Corporate Strategy


Business, government and society are independent and their relationship is complex in every nation. General systems theory tells us that all organisms or systems are affected by their host environments; thus, an organization must be appropriately responsive to changes and conditions in its environment to survive and succeed.

The web of interactions between business, government, and society creates a system of stakeholders—groups affected by and influential in corporate decisions and actions. The analysis of these stakeholders—who they are, what power they hold, and the ways in which they interact with one another—helps managers understand the nature of their concerns and needs and how these relationships are changing. If the creation of stakeholder networks is a natural process for organizations, managers must learn how to understand and utilize these relationships. The business of the 21st century must have managers who understand the importance of creating business strategies that include these considerations.

The relationship between business and society is also continuously changing. People, organizations, and social change; inevitably, new issues will arise and challenge managers to develop new solutions. To be effective, corporate strategy must respond to the biggest and most central questions in the public’s mind. People expect businesses to be competitive, to be profitable, and to act responsibly by meeting the reasonable expectations of stakeholders. The corporation of the 21st century is certain to be affected by global economic and political trends, powerful new technologies, and a global population of stakeholders who will expect their interests to be integrated into the thinking of the companies from which they buy goods and services, to which they contribute labor and ideas, and to which they extend the hospitality and support of their communities.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Public Policy


Public policy is a plan of action undertaken by government officials to achieve some broad purpose affecting a substantial segment of a nation’s citizens. It is also is what a government chooses to do or not to do. Governments generally do not choose to act unless a substantial segment of the public is affected and some public purpose is to be achieved. This is the essence of the concepts of governments acting in the public interest.

The role of government is extensive in most modern economies. Although there are vigorous debates about the size and specific actions of government, there is broad agreement that government has some appropriate role to play in modern life. As the world’s population increases, individual nations have more citizens whose needs have to be met and whose interests and concerns have to be reconciled into reasonable plans of action. These are the rules that government, whatever its specific form, plays in the modern world. Public policy, while differing in each nation, is the basic set of goals, plans, and actions that each national government follows in achieving its purpose.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Market Survey


Stated most simply, the objective of a market survey is to determine a reasonably attainable sales volume in a specific market area for a specific type of business. This means finding out how many potential consumers of the planned merchandise or service there are in this market and how many of them can reasonably be expected to become customers of the firm under consideration.

The thoroughness of a market survey will vary under different conditions. The survey is essential for stores that plan to develop much of their own customer traffic. If sales are to depend on the firm’s merchandising policies, sales promotion efforts, special services, or uniqueness, a particularly thorough market survey should be made in advance. Firms that plan to rely on the established customer flow already generated by other businesses in the area may follow less thorough procedures. The latter types of firms have often been described as “parasite stores,” meaning that their location has been dictated by the existing firms in the area that have attracted a substantial traffic flow and which the new firm will tap for its own sales. Examples of small firms in this category are a restaurant in a skyscraper lobby, a medium-priced dress shop next to a large department store, an office-building tobacco shop, or a drugstore in an airline terminal. In these cases, the amount and nature of the traffic and its sales potential are pretty well established. Such firms may still, however, exert various types of sales promotion activities to increase total income within the traffic.

The chief concern here is with the types of firms that may rely heavily on a market survey to help them build much of their customer traffic.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

The Essence of Competition


Competition, the rivalry among businesses for consumers’ dollars, is a vital element in free enterprise. Competition fosters efficiency and low prices by forcing producers to offer the best products at the most reasonable price; those who fail to do so are not able to stay in business. Thus, competition should improve the quality of the goods and services available.

Within a free enterprise system, there are four types of competitive environments:

  1. Pure competition exists when there are many businesses selling one standardized product. No one business sells enough of the product to influence the product’s price. And, because there is no difference in the products, prices are determined solely by the forces of supply and demand.
  2. Monopolistic competition exists when there are fewer businesses than in a pure-competition environment and the differences among the goods they sell is small. The products differ slightly in packaging, warranty, name, and other characteristics, but all satisfy the same consumer need. Businesses have some power over the price they change in monopolistic competition because they can make consumers aware of product differences through advertising. Consumers value some features more than others and are often willing to pay higher prices for a product with the features they want.
  3. Oligopoly exists when there are very few businesses selling a product. individual businesses have control over their products’ price because each business implies a large portion of  the products sold in the marketplace. Nonetheless, the prices charged by different firms stay fairly close because a price cut or increase by one company will trigger a similar response from another company. Oligopoly exists when it is expensive for new firms to enter the marketplace.
  4. Monopoly exists when there is one business providing a product in a given market. Utility companies are monopolies. The government permits such monopolies because the cost of creating the good or supplying the service is so great that new producers cannot compete for sales. Government-granted monopolies are subject to government-regulated prices.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Material Breach


The promisor is guilty of material breach of contract if his or her performance fails to reach the degree of perfection the other party is justified in expecting under the circumstances. Such a promisor has no right of action under the contract and is liable to the other party for damages resulting from the breach. If the promisor’s defective performance conveyed some benefits to the party that cannot be returned, the promisor may, under a quasi contract theory, be able to recover the reasonable value of benefits conferred from the other party.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Leadership: The Uses of Power


Power can be used in many ways. Three outcomes potentially result when a leader tries to exert power—Commitment, Compliance, and Resistance. These outcomes depend on the leader’s base of power, how that base is operationalized, and the subordinate’s individual characteristics.

Commitment probably will result from the attempt to exercise power if the subordinate accepts and identifies with the leader. Such an employee will be highly motivated by requests that seem important to the leader. A committed subordinate will work just as hard as the leader to complete the project, even if that means working overtime.

Compliance means the subordinate is willing to carry out the leader’s wishes as long as doing so will not require extra effort and energy. Thus, the subordinate may work at a reasonable pace but refuse to work overtime, insisting that the job will still be there tomorrow. Many ordinary requests from a boss and the subsequent responses of subordinates fit this description.

Resistance occurs when the subordinate fights the leader’s wishes. A resistant subordinate may even deliberately neglect the project to ensure that it is not done as the leader wants.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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