Examlex
Uncertainty in a business environment refers to lacking sufficient information necessary to predict future environmental needs and changes. Turbulence in a business environment refers to the amount of change and complexity that exists in that organizational environment. Choose one of the strategies that managers use to adapt to environmental changes, and write a short paragraph that gives your assessment of the ethical issues that might arise from its use.
Agent Liability
Refers to the legal responsibility of an agent to their principal, including obligations and potential for repercussions if the agent acts outside their authority or against the interests of the principal.
Principal
In law, the person who authorizes an agent to act on their behalf; in finance, the original amount of money invested or loaned.
Vicarious Liability
The liability or responsibility imposed on a person, a party, or an organization for damages caused by another; most commonly used in relation to employment, with the employer held vicariously liable for damages caused by its employees.
Principal-Employer
The party in a contractual relationship who has the right to control the work of the employee or agent and is responsible for their actions.
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