Strategists Should

question 61

Multiple Choice

Strategists should:

• A)Understand the nature of principal-agent and principal-principal conflicts to create better governance mechanisms.
• B)Develop firm-specific capabilities to differentiate on governance dimensions.
• C) Understand the rules, anticipate changes, and be aware of differences, especially when doing business abroad.
• D) All of the above.

Identify and evaluate different types of misrepresentations (fraudulent, innocent, and negligent) and their legal consequences.

Distinguish between duress, undue influence, unilateral, and mutual mistake and their impact on the enforceability of contracts.

Analyze the legal remedies available for breach of contract, including rescission, damages (compensatory, nominal, reliance), and specific performance.

Explain the concept of voidable contracts and the conditions under which a contract may be considered voidable.

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Definitions:

Group Process

The dynamics and mechanisms that occur within a group setting, influencing how members interact, make decisions, and achieve goals.

Structured Power

The organized and systematic distribution of authority and influence within an institution or organization.

Official Structure

pertains to the formally recognized and systematic arrangement of roles, responsibilities, and relationships within an organization.

Team Members

Individuals who are part of a group collaborating towards a common goal, each contributing with their unique skills and roles.