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In Today's Turbulent Environment,organisations Are Finding That They Must Be

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Essay

In today's turbulent environment,organisations are finding that they must be more flexible if they wish to complete against smaller and more entrepreneurial enterprises.Identify and define the management implications for developing and maintaining flexibility in large and/or well established organisations.


Definitions:

Preexisting Duty

An obligation that a party is already legally bound to fulfill, which cannot serve as consideration for a new contract.

Accord and Satisfaction

A legal settlement where an agreement is made to discharge a claim by providing some form of compensation that differs from the original obligation.

Liquidated Debt

A debt for which the exact monetary value has been determined and acknowledged by both the debtor and the creditor.

Accord and Satisfaction

A legal settlement where a disputing party agrees to accept a payment or performance that is different from what was originally owed or expected, thereby settling the claim.

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