Explain What Is Meant by an Agent's Fiduciary Duty

question 153

Essay

Explain what is meant by an agent's fiduciary duty. Give three examples of how that fiduciary duty can be breached.

---

Definitions:

Retrenchment

A strategy used by organizations to reduce their scale or scope in response to financial pressures, often involving cost-cutting measures and reductions in workforce.

Organizational

Relating to the structure or functioning of an organization or the collective group organized for a particular purpose.

Operational

Pertaining to the daily activities and functions necessary for an organization or system to run efficiently and effectively.

State of Crisis

A situation or period in which an organization or community faces significant challenges or threats that require immediate and effective response.