Prices and Problem Solving Case Study Example | Topics and Well Written Essays - 1500 words

Prices and Problem Solving - Case Study Example Williams, proceeded with it and it was then that Goudberg got in. It was then that they made several trips to the U.S. and that they met with Mr. Herniman which in the course would provide architectural services. It was in September of 2000 that Mr. Herniman got in to the scene. Accordingly, his firm was prepared to undertake a certain amount of preliminary work to assist Williams and Goudberg to get the project happening. In 2002, it was already considered by Williams that the concept was already starting to take its practical shape, but it was in the same year that the project (Industry Food Services Pty Ltd) was incorporated. There was no agreement reached with applebee and no capital was ever obtained. In consideration to the series of events, the work done or performed by both Williams and Goudberg can not in any way considered exploratory or preparatory, but it actually carried out as carrying on a business. In the event that the two were conducting market research, traveling to the U.S. and negotiating with applebee, it can not be concluded as conducting a business at the time that they entered into arrangement with Mr. Herniman. In the conclusion cited by Kellan, and reference with the definition of "partnership, as a relationship which subsist between persons carrying or business in common, with a view of profit." The view of Williams never took to its preliminary stages because as cited in the dispute, nothing really came out, all the activities rendered by both Williams and Goudberg were just exploratory or preparatory in nature. Factual circumstances does not point to any conclusion that there was partnership involved. Herniman, being the respondent was not able to establish that there was really a partnership because as cited "he had never performed any architectural preparations to the proposed project"(reading,2007) Accordingly, his team was prepared to understate a certain amount of preliminary work to assist Williams and Goudberg to get the project happening. Assignment Question 2 Problem Solving A business that is well conceived and well planned possesses certain inherent advantages. At the same time, the fact of its newness may have significant disadvantages(Hamilton 2005) One of these comes in the planning. The starting point of any program of a business is a careful estimate of requirements. The usual starting point of a business forecasts is the record of the immediate past, modified for foreseeable variation during the forecast period. The possibility of substantial errors of forecast is great. Unfortunately, the spirit of optimism which is the necessary accompaniment of new ventures in business tends to produce underestimates rather than overestimates. Lets take a look at one typical case of a business partnership that did not have any starting point of planning. The case of Ken and Maria. The start of their joint venture or partnership is an example of a business that did not have smooth take off. There are rules in establishing a partnership that they have overlooked. At the start, it seemed that Ken was the industrial partner, and Maria was the one who financed everything. Since the registered name of the business bear the names of both