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Brian is an only child whose father is a president of a large corporation, while his mother is a lawyer at a busy law firm. Brian has always enjoyed the company of other children partly, he believes, because he wasn't around children much except at school. He is particularly intrigued with young children's development and is thinking of majoring in early-childhood education in college. His parents are not happy with Brian's decision, and his father puts a great deal of pressure on him to major in business or pre-law. Brian isn't sure what to do. His situation is an example of
Wholesaler-sponsored Voluntary Chain
A form of retail organization in which independent retailers band together in a contractual relationship with a wholesaler to achieve economies of scale and compete with larger chains.
Administered Cooperative System
A cooperative arrangement where operations and activities are managed and directed by a centralized authority, often to achieve economies of scale or shared goals.
Franchising
A business model where a franchisor licenses its trade name and operating methods to a franchisee in exchange for a fee and ongoing royalties.
Contractual Arrangement
An agreement between parties that is enforced by law, specifying the duties and rights of each party.
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