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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Introduction of Agency Theory The specific definition of the theory based on the sources investorword.com and investopedia.com defined that the agency theory is a theory explaining the relationship between principals such as shareholders and agents. It is essentially involves the cost and way of resolving the conflicts between the principals and agents and change the something slightly to the correct position and decision related to the two group of conflict. Thus‚ the main objective of agency theory is
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Agency problem and its solutions Introduction Principal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example‚ in a large corporation‚ shareholders would hire managers to help them to organize the company in dairy business. However‚ agency problems may arise because of the conflict interest and asymmetry information between principals and agents‚ which lead to agency costs. In this essay‚
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of the future work of business travel agencies Nevmerzhitskaya‚ Julia Master’s Thesis Degree Program of Tourism 2013 Abstract Date of presentation Degree programme Author or authors Julia Nevmerzhitskaya Title of the thesis Scenarios of the future work of business travel agencies Group or year of entry YMA11 Number of pages and appendices 68 + 2 Supervisor(s) Jarmo Ritalahti This study focused on the future work of travel agencies in the business travel segment. It aimed
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demanding product is available in the right place and at the right time. (Cooper. 2005) People travel for various reasons therefore there are different kinds of travel agents. They can be divided into two main types – leisure travel agencies and business travel agencies. Each of them adjusts the services provided to the needs of the potential customers. First one is basically aiming to tourists which travel is generally not connected with work. The other one is strictly focused on organising any kind
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Aff According to Abraham Lincoln‚ “Government of the people‚ by the people‚ for the people‚ shall not perish from the Earth.” Because I agree with this statement‚ I seek support of today’s resolution: RESOLVED‚ that an oppressive government is more desirable than no government. For the purposes of today’s debate‚ I offer the following definitions from Merriam Webster: Government‚ “a particular system used for controlling a country‚ state‚ etc.” Control‚ “to exercise restraining or directing influence
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supplied to the agent. This is known as the commission. In many countries‚ all individuals or companies that sell tickets are required to be licensed as a travel agent. In some countries‚ airlines have stopped giving commission to travel agencies. Therefore‚ travel agencies are now forced to charge a percentage premium or a standard flat fee‚ per sale. However‚ some companies still give them a set percentage for selling their product. Major tour companies can afford to do this‚ because if they were to
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The ancient Inca government and the government of the United States of America have some things in common; while at the same time both very different. The powers possessed by the Inca monarch are similar to those of the U.S. government. However‚ Inca punishments for criminals are very different from American punishments for criminals. The Inca government had a very strong structure‚ which enabled it to last for hundreds of years. One major distinction between the two governments though‚ is that the
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motivated travel agent workforce very responsive to customer needs. This space has been facing problem on three fronts: people‚ processes and systems to execute a customer order. The analysis would be focussing on People and Processes part of such agencies. This report would discuss the approach of analysis‚ suggest competency model as a basis to evaluate people problems as well as a reference for recruitment and training‚ enlist insights gathered from mystery shopping‚ identify the problems based
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DEPARTMENT OF BUSINESS ADMINISTRATION ASSAM UNIVERSITY Assignment on International Marketing (CP-3204) TOPIC-PUBLIC SECTOR TRADING AGENCIES Submitted to: Prof. H. Ramananda Singh. DBA‚ Assam University Silchar Submitted by: Mou Roy
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