Biography of Alan Stillman Example | Topics and Well Written Essays - 1250 words

Biography of Alan Stillman - Essay Example The original intention of TGI Friday’s was to provide people with a neighbor friendly bar where they could grab a hamburger or French fries. Through Alan’s innovation, the joint started serving burgers on toasted English muffin in an effort to create an in-house atmosphere. The results were tremendous. Alan had underestimated the influence serving food would have. In an effort to lure ladies, the joint began giving out burgers for free during end month. The argument was that many girls pay could not sustain them over the whole month. The joint quickly grew in popularity prompting the hiring of security guards in only three months of operation. Increased hordes of customers meant a significant restructuring for the joint. The foods had to be changed to adjust to menus that were quick to prepare. The second TGI Friday’s location was in Tennessee. A lad from Memphis approached Alan with the intention of buying a franchise. At the moment, Alan understood little about franchises. The counterpart offered to help with the idea of a fifty/fifty ownership stance. With the success of the second outlet, more people partnered with Alan resulting in about six outlets, in the country. This was a rapid growth of the enterprise. Soon, interested parties who possessed more capital than Alan approached with an intention of setting up similar franchises in Dallas. The Dallas partner was Scoggin and Henrion. The Dallas premises was twice the size of the original TGI Friday’s and raked in an annual figure of $2,000,000. A shift in Stillman’s business took place in the year 1971. The economy was experiencing a downtrend. People from all sorts of places were chasing Alan around trying to buy the interest. A prospective customer offered one million dollars, which Alan took gladly.

International Trade Law Essay Example | Topics and Well Written Essays - 3750 words

International Trade Law - Essay Example The researcher of this essay describes the development of the customs unions and free trade areas that adheres to Article XXIV of GATT that also generates a production effect that results in amore efficient use of world resources. Eliminating the tariff barriers means being able to compete against lower-cost and more efficient producers. Inefficient domestic producers drop out of the market resulting in a decline in home output. Although a customs union may add to world welfare by way of trade creation, its trade diversification effect generally implies a welfare loss. The formation of a customs union will increase the welfare of its members as well as the rest of the world, if the positive trade creation more that offsets the negative trade diversion effect. In extreme cases where the union is made up of the entire world, there can only exist trade creation and not trade diversion. The scope of trade diversion is smaller when the customs union’s common external tariff is lowe r. The transition for a Market-Oriented Economy, that was describes in the essay requires giving up ownership of privately owned properties and removing central planning systems for decent living standards. Therefore, to maintain healthy market economies would require: establishment of sound fiscal and monetary policies; removing price controls; opening economies to competitive market forces; establishing private property rights and a legal system to protect those rights; and reducing government involvement in the economy for an open trade.