To Successfully Manage Change, Organizations, Particularly in Fast-Growing Industries, Should

question 95

True/False

To successfully manage change, organizations, particularly in fast-growing industries, should wait to see how external forces impact performance, and then develop a plan to react to those changes.

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Definitions:

Implied Warranty

A legal guarantee that a product will meet a minimum set of standards of quality and functionality without being explicitly stated.

Breach of Contract

The failure to perform as stated or agreed upon in a contract.

Agency

A legal and business relationship in which one party, the agent, is authorized to act on behalf of another party, the principal, in transactions with third parties.

Principal

In finance, refers to the original sum of money borrowed in a loan, or put into an investment, not including the interest. In a second context, it can refer to the primary party involved in a transaction or the main individual in a business.