Business Cons

Based on the case study where models are issues with free cloths and in return, give the lender some good pictures on the outfit within two weeks seems not to bear good fruits. Over the last days, it has been experienced that the models do not take this contract's agreement seriously, to the extent that some are not returning any pictures and others are doing it reluctantly. Therefore, the lender of the clothes has decided to set up new terms and conditions; this time, if any of the models fail to bring the clothes and pictures with the pictures, they will have to pay for the price. This strategy will be achieved through the creation of a contract or agreement, which should be signed by both parties.

In order to avoid misunderstandings and inconveniences in operation, it is essential to engage in a contract. This contract indicates all terms that need to be agreed upon and signed, indicating that the parties have read and understood the stipulated conditions. More so, the contract highlights the terms of the agreement; in this context, it is the agreement between the clothes lender and the models. The contract agrees that they will have to pay for the clothes if they do not meet the conditions; that is, failure to bring good consent pictures within the two weeks they will pay for the outfit. The advantages of the contract are to minimize all forms of liability and reduce the potentials for confusion as well as unmet expectations (Allam, 2018). However, it is essential to ensure that the contract is not too lengthy, complicated, or restrictive to avoid causing suspicion and thus scare away the models; thus, the business might collapse.

 

References

Allam, Z. (2018). On smart contracts and organisational performance: A review of smart contracts through the blockchain technology. Review of Economic and Business Studies, 11(2), 137-156.