When an employer hires an employee to enter into contracts on behalf of the employer, an <u>agency relationship</u> typically exists.
An agency relationship exists between an employer and the employee, when the former authorizes the latter to act on his behalf, including to enter into contracts and agreements.
The employer is called the principal, and the employee is called the agent. These arrangements are made with the consent of both parties, and the principal is bound by what his agent does.
Agency relationships are essential for firms that do business globally. This is because the principal, through the agent, is able to be in more than one place at a time, thereby expanding the scope of their business.
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Can you list the options?
Detailed information helps in making timely decision in an organization on what to do and how to do them.
What is information?
Information are those facts or findings about a subject that has been learned either through research about something or an individual.
Benefits of detailed information include;
It helps in making timely decision in an organization.
It helps to manage resources appropriately.
Value can be assigned based on how important this benefits are to the organization or individual.
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It should be noted that Giving consumers product brochures to take home with them helps with selective retention.
This will help them to be able to remember the details they heard about in the store and make decisions.
<h3>What is selective retention,?</h3>
selective retention to the customer will give them the chance to make decisions on the product.
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Answer:
The largest revenue the supplier can make under this deal is $24,151.2
Explanation:
Working file has been attached to help understand how the answer was derived. Some points to note in the sheet are:
- The sheet represents the following columns which are S. No., Chairs, Price, Total Revenue and difference in each revenue.
- As the no. of chairs rises the price is dropping by $0.2 in the entire order.
- However, at first this increase in order of chairs is beneficial even with the drop in the price of entire order.
- At the point, where chairs ordered are 348 and price is $69.4 the revenue is at its largest which is $24,151.2.
- After this point the increase in the no. of chairs is only decreasing the overall total revenue of the supplier.
