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In this paper, we consider the case of a distressed firm whose financial commitments have to be renegotiated with stakeholders (banks, trade creditors …).
"I fear it is necessary to inform the Greeks that commitments have to be adhered to," said the Austrian Chancellor, Werner Faymann.
And those commitments have to be long-term.
As Peter Drucker noted: "Unless commitment is made, there are only promises and hopes...but no plans". And those commitments have to be long-term.
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Most newly created programs were characterized by largely symbolic commitments and very small budgets, while stronger commitments had to be constructed through successive steps of integration.
Since the NIH appropriation resulted in only a 1% increase, the previously established commitments had to be adjusted, accordingly.
Mrs Merkel's spokesman said simply that Greece's commitments had to be kept.
Although major gaps in knowledge existed regarding this first emerged infectious disease of the 21st century, decisions involving massive resource commitments had to be made quickly and decisively.
What does the action commitment have to be?
The tax consequences of every important commitment have to be appraised.
Commitment had to be absolute.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com