You have been appointed as the business adviser to Whizz Kid Industries. They have tasked you to write a report dealing with the following pressing issues.
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Contents Page 1. TERMS OF REFERENCE 3 2. PROCEDURE 3 3 PRODUCTION LIABILITIES 3 3.1. CONCEPT OF THE TERM "DEFECT" 3 3.2. TYPES OF DEFECTS 3 3.2.1. MANUFACTURING DEFECT 3 3.2.2. DESIGN DEFECT 4 3.2.3. FAILURE TO WARN 4 3.3. DAMAGE 4 3.4. DEFENCES TO PRODUCT LIABILITY 5 3.5. WHAT CAN A MANUFACTURER OR IMPORTER DO TO REDUCE THE RISK OF ACTION? 5 3.6. CONCLUSION 5 4. IMPROVING COMPETITIVENESS 5 4.1. SUPPLY-SIDE VIEW 5 4.1.1. FACTORS OF PRODUCTION 6 4.1.2. MINIMISE GOVERNMENT INTERVENTION 6 4.1.3 OTHERS 6 4.2. GOVERNMENT INTERVENTION 6 4.2.1. DEREGULATION 6 4.2.2. PRIVATISATION 7 4.2.3. OTHERS 7 4.3. CONCLUSION 7 RECOMMENDATIONS 7 REFERENCES 8 You have been appointed as the business adviser to Whizz Kid Industries. They have tasked you to write a report dealing with the following pressing issues. 1) The first relatives to a legal issue. The company is intending to import a unique new toy for the Christmas market. Their concern relates to their potential legal liabilities should any toy prove to be faulty resulting in damage to property or injury to the use. 2) The second is in regard to statement made by the government that a key policy objective is to improve the supply-side of the economy to make industry more competitive. You are required to provide the Board with concise overview of what...

