COMPARATIVE PERSPECTIVES ON BUSINESS ORGANIZATIONS: PRESENTATION: Smith, Adam. The Wealth of Nation

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Teams of 4 to 5 students from different fields are formed at the beginning of term. Each team gives two presentations during the term (one about a text in Economy, the other about a text in Sociology/Management; one before mid-term, one after mid-term). Each presentation counts for 15% of the final grade.

The presentation schedule is established at the beginning of term. Presentations are from 10 to 20 minutes long. They start at Session 4 and finish at Session 11. The presentations follow the analytical frameworks used throughout the course.

During the first half or term (Sessions 4 to 7), students start with the text’s arguments and finish with the contemporary managerial issues that follow from these arguments. The analytical framework (used for the oral presentations and the mid-term exam) is as follows:

1. What is the explicit or implicit question that the text addresses and what answer does it give? 20%

2. What are the key concepts, explicit postulates, and implicit postulates of the text? 20%

3. How does this text compare to other texts addressing the same topics, including the second text for the session? 20%

4. What are the concrete implications and illustrations of this text today for business organizations or management? 20%

5. What are the ethical issues raised by the text’s implications? 10%

Sample Solution

Whether or not Peter Lake can enforce his contract with Soames for the sale of a custom sound system is reliant on if an offer was made in the first place. In order for an offer to be valid and binding, it must be clearly communicated, including definite terms. This includes the willingness of the offeror to enter into an agreement, the offeror’s intent to form a binding contract, and the explicit communication of the offer and the terms to the offeree. On February 17, Lake said to Soames, “I will sell it to you for $25,000. It will take about 90 days to put it together…” Peter Lake stated the price, the terms, and had the full intent to enter into an agreement. Soames was aware of these terms. A valid offer was created by Lake with the intent to sell a custom sound system to Soames.

Lake and Soames Acceptance (Sound System)

Whether Peter Lake and Pearly Soames had an agreement for the sale of a custom sound system depends on if there was an acceptance to the offer made. The acceptance of an offer may only be valid if it is express or implied directly to the offeror. It must fall within the prescribed time constraints, and acceptance must be absolute and unconditional. In this instance, Soames clearly stated, “Fine, I accept.” when Lake made an offer to sell the sound system for $25,000 in approximately 90 days. This was said directly to the offeror, Lake and was absolute and unconditional. Therefore, Soames’ acceptance of Lake’s offer is valid and applicable.

Lake and Soames Enforceability (Sound System)

Whether or not the agreement between Peter Lake and Pearly Soames for the sale of

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