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One of the disadvantages of a divisional structure is that the divisions often perceive themselves as being in competition with each other and are therefore unwilling to share information to help other divisions improve. ArcelorMittal found a solution which twins an efficient steel mill with a struggling one.
Offeror
The party in a contractual agreement who makes an offer to enter into a contract, awaiting acceptance by the offeree.
Stipulates
Specifies expressly, setting out terms or conditions clearly within an agreement or document.
Effective Upon Dispatch
A legal principle stating that an offer, acceptance, or revocation becomes effective when it is sent, not when it is received.
Specified
Clearly identified or defined in detail.
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