A principal is bound by contracts that an agent enters into with authority. Discuss the various types of contractual authority an agent may have
There are three types of authority: express, implied, and apparent authority. A principal grants express authority by words or conduct that, reasonably interpreted, cause the agent to believe the principal desires him or her to act on the principal's account. Implied authority is the authority to do the things reasonably necessary to carry out the expressly authorized tasks. Apparent authority arises when the principal does something to make a third party believe that a person has authority to act.
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________ is a communication process in which sales associates help customers satisfy their needs through face-to-face exchanges of information.
A. Solution selling B. Personal selling C. Price-based selling D. Target account selling E. Cold calling
Caterpillar collects and analyses large volumes of data about how customers use their tractors. This permits them to ________ the cost of new product development efforts and to better ________ their products.
A. increase; differentiate B. identify; disperse C. reduce; differentiate D. position; understand
At Universal Credit Card Services' (UCCS) customer service center in Jacksonville, Florida, customer service representatives are given immediate access via their computer screen to information and tools they need to serve the customer efficiently. When a customer calls, the representative can view the customer's account records and any notes from previous telephone calls from the customer. The representatives also have information on commonly asked questions. By providing immediate access to customer files, UCCS is using which of the following human resource strategies for closing provider gap 3?
A. Hire the right people B. Set service standards C. Develop people to deliver service quality D. Retain the best people E. Provide needed support systems
If a pair of variables have a strong curvilinear relationship, which of the following is true?
A) The correlation coefficient will be able to indicate that curvature is present. B) A scatter plot will not be needed to indicate that curvature is present. C) The correlation coefficient will not be able to indicate the relationship is curved. D) The correlation coefficient will be equal to zero.