Agency (1) AGENCY RELATIONSHIP? (2) AUTHORITY? Agency is an agreement‚ express or implied‚ by which the principal entrusts to the agent‚ the management of the business; to be transacted in his name‚ or on his account‚ and by which the agent assumes to do the business and to render an account of it. Agency involves: Principal‚ who passes authority to Agent to effect the legal relations between the principal Third party‚ acted with principal through the agent Section 135 CA (Definition of Agent)
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Definition of ’Agency Theory’ A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving problems that can exist in agency relationships; that is‚ between principals (such as shareholders) and agents of the principals (for example‚ company executives). The two problems that agency theory addresses are: 1.) the problems that arise when the desires or goals of the principal and agent are in conflict‚ and the principal is unable
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would not to try their best to achieve shareholder’s goal. Due to different interests in shareholders and managers‚ the conflicts always exist between them. An agency problem occurs when the interests of stockholders‚ the board of directors‚ and/or the management of the company are not perfectly aligned or when these entities conflict. EXPLAINATION Agency problem is typically caused by two reasons which are asymmetric information and hidden action. There is no legitimate theoretical or moral
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Seattle area. The service industry‚ including travel agencies‚ is one of the fastest growing business sectors of the economy‚ and Northwind Traders intends to capitalize on the success of this industry by taking advantage of travel planning opportunities in the Pacific Northwest. President Heather Mitchell and Vice President of Sales and Marketing Jim Kim currently hold the company’s stock. Prior to starting the Northwind Traders travel agency‚ Ms.
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THE LABOR AGREEMENT BETWEEN QUALITY FURNITURE MANUFACTURING COMPANY (QFM) AND INDUSTRIAL WORKERS UNITED (IWU)‚ AFL-CIO This agreement is entered into on March 17‚ 2012 by the Quality Furniture Manufacturing Company (QFM)‚ located in St. Louis‚ Missouri‚ and Industrial Workers United (IWU). This agreement covers employees at the St. Louis plant only. Article I—Recognition The company recognizes the IWU as the sole and exclusive collective bargaining agent in all matters pertaining to rates of
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that part of the Director of Inventory’s lost sales issues are a result of theft and unfulfilled orders. Thus‚ this paper is intended to addressing each issue described above and arising along the whole supply chain. First at all‚ the creation of a formal process that can be implemented to measure and maintain the success and show continuous improvement is presented. Having in consideration the 22 fashion seasons that BOWS carries during a year (each season is long just two weeks) and that the company
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Formal Analysis I’ve decided to do my formal analysis on an original painting done by Slava Ilyayev titled‚ “Passage to Spring”. I ran across this beautiful work of art at Fascination St. Fine Art north of Cherry Creek in Denver. UNITY: As you take a look at this piece‚ you can notice unity right away. The artist uses color‚ texture‚ and line to interweave this beautiful work of art together. Bright‚ analogous warm colors are unified throughout the piece including the reflection on the pathway
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Agreement is an important aspect in the formation of a contract. A contract is a legally binding agreement between 2 parties. A contractual agreement is said to exist when a valid offer is followed by a valid acceptance. • Sometimes people will negotiate to try to gain something different from what is first offered. This may make it difficult to know exactly when a contract is formed and when legal obligations begin. Components necessary for contract formation • 1. An OFFER- a promise to be bound
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A service-level agreement (SLA) is a part of a service contract where a service is formally defined. In practice‚ the term SLA is sometimes used to refer to the contracted delivery time (of the service or performance). As an example‚ Internet service providers and telcos will commonly include service level agreements within the terms of their contracts with customers to define the level(s) of service being sold in plain language terms. In this case the SLA will typically have a technical definition
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ADVERTISING AGENCIES ROLE‚ TYPES‚ IMPORTANCE & ORGANIZATIONAL STRUCTURE SUBMITTED BY: CONTENTS 1. INTRODUCTION 2. DEFINITION 3. ROLE 4. TYPES ON THE BASIS OF: SERVICE PROVIDED ADVERTISING MEDIUM 5. IMPORTANCE 6. ORGANIZATIONAL STRUCTURE 7. TOP 10 INDIAN ADVERTISING AGENCIES 8. SUMMARY 9. REFERENCES INTRODUCTION ADVERTISING AGENCIES: The work of a tailor is to collect the raw material‚ find matching threads‚ cut the cloth in desired shape‚ finally
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