Strategic plans are usually put in place in order to increase efficiency and to reduce cost. In the scenario given above, Iris has discovered a loophole in the IT strategic plan, because he is aware that a technology that is meant to reduce cost is not going to do so. Because of this, it is right for Iris to speak up and make that fact known. If he refuses to do this, the goal of the strategic plan to reduce cost will be defeated.
Legally binding partnership that may arise where, in fact, no formal partnership agreement is in effect. A person who by conduct or words represents, or allows him/herself to be represented, as a partner in a firm is liable for the credit or loans obtained by firm on the basis of such representation. Also called presumption of partnership.
Answer: D. All of the above statements are true
Explanation:
Oligopolies exist in markets where supply is not saturated so they tend to form cartels where they can collude and charge a higher price to consumers so as to make more profits. Like a monopoly, this would lead to a deadweight loss because the urge to be competitive goes away and the market becomes socially inefficient.
In such a market, some firms will be tempted to break the cartel agreement and charge a lower price so as to gain market share. They stand a good chance of doing so in the short term but the other companies will react by reducing their prices as well which would reduce profits for the whole industry.
Answer:
E) assess the current reality
Explanation:
- Zara's method of identification of the customer's needs and wants and then categorization them as per the planning perspective and strategic management involves the assessment of the current reality trends in the market and keeping a check on the demands of the customers.
Answer:
<u>Foreign exchange risk management strategy</u>
Explanation:
In simple terms, what the Foreign exchange risk management strategy entails is the measures used by companies to protect or to create a safety net against any potential losses that may arise due to fluctuation in the exchange rates.
By approaching its bank in January [about three months in advance] in other to agree on an exchange rate at which they will make a payment, FBL Inc was implementing its Foreign exchange risk management strategy.
