To Be Successful, and Avoid Being Eliminated by the Competition

question 72

Multiple Choice

To be successful, and avoid being eliminated by the competition, an organization must do all of the following except:

• A) constantly undertake new initiatives.
• B) ignore the competition.
• C) address both minor and major problems.
• D) capitalize on significant opportunities.

Understand the concept of agency authority and the distinctions between actual, apparent, and ratified authority.

Identify circumstances under which an agent is personally liable for contracts and torts.

Understand the doctrine of respondeat superior and its application to employer liability.

Distinguish between disclosed, partially disclosed, and undisclosed principals and the legal implications of each status.

---

Definitions:

Romantic Love

A complex set of emotions and behaviors characterized by passion, intimacy, and commitment, typically involving a strong attraction and emotional attachment to another person.

Companionate Love

A form of love characterized by deep affection, attachment, and commitment.

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, and praise.

External Reward

Relates to incentives or rewards that come from an outside source, rather than from within, and motivate behavior.