One of the Elements of a Formal Strategic Plan Should

question 24

Multiple Choice

One of the elements of a formal strategic plan should be

• A) a contingency plan
• B) employee opinion survey
• C) statement from the Chair of the Board of Directors
• D) a list of the officers of the company

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Definitions:

Apparent Authority

A form of authority that a third party perceives to exist based on the principal’s behavior, even if no actual authority has been granted by the principal to the agent.

Agency Relationship

A legal arrangement in which one party, the agent, is authorized to act for another, the principal, in business transactions.

Principal

In finance, the original sum of money borrowed or invested, excluding any interest or profit. In legal contracts, the party who authorizes an agent to act on their behalf.

Course And Scope

Refers to activities that are conducted within the bounds of an employee's job duties and during employment.