Jeff Is the Owner of a Small Scale Manufacturing Unit

question 45

Multiple Choice

Jeff is the owner of a small scale manufacturing unit that specializes in selling customized automobiles.He is on the lookout for wholesalers or suppliers to sell him a unique set of spare parts.In the context of agency relationships,Jeff is a(n) ______.

• A) principal
• B) agent
• C) independent contractor
• D) middleman
• E) mediator

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Definitions:

Incremental Change

Gradual adjustments or improvements made over time to processes, systems, or products, rather than major shifts or innovations.

HR Implications

The potential effects or consequences that human resource practices and policies have on both employees and the organization.

M&As

Mergers and Acquisitions (M&As) refer to the consolidation of companies or assets through various types of financial transactions.

External Stakeholders

Individuals or groups outside of a business organization that are affected by its decisions and actions.