Firm Size, Firm Age, the Executive's Tolerance for Ambiguity, and His

question 19

True/False

Firm size, firm age, the executive's tolerance for ambiguity, and his or her commitment to strategic outcomes are all factors that may affect managerial discretion.

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Definitions:

Agency by Estoppel

A principle by which a person or entity is prevented from denying the authority of another who has been allowed to act as their agent, despite not officially having been granted the role.

Equitable Agency

A principle where an agent has the authority to act on behalf of a principal, based on fairness and justice.

General Power of Attorney

A legal document granting someone authority to act on another person's behalf in a variety of matters.

Legal Documents

Written instruments that formalize agreements, rights, or obligations legally enforceable by law, such as contracts, wills, and deeds.