When One Party to a Business Relationship Can Make Decisions

question 62

Multiple Choice

When one party to a business relationship can make decisions that benefit him or her but harm the other party a

• A)lawsuit is automatically filed.
• B)contract arises.
• C)conflict of interest arises.
• D)contingent liability arises.

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Definitions:

Collective Intelligence

The combined knowledge and problem-solving ability of a group, which can surpass the abilities of individual members, often facilitated by communication and collaboration technologies.

Team Effectiveness

Measures how well a team accomplishes its goals and meets the needs of its members and organization.

Formal Retreat Approach

A strategic decision-making process where decision makers step back from the immediate problem in order to reconsider their options from a new perspective.

Firm's Headquarters

The primary office or location where the central functions of an organization are coordinated and managed, often the base for executive decision-makers.