Explain the advantages of delegation.
What will be an ideal response?
Answer: Effective delegation leverages the manager's energy and talent and those of his or her subordinates. The manager is then free to devote energy to important, higher-level activities such as planning, setting objectives, and monitoring performance. Delegation also helps managers develop effective subordinates, and essentially gives the subordinate a more important job. The subordinate now has an opportunity to develop new skills and to demonstrate potential for additional responsibilities and perhaps promotion. These employees tend to feel a stronger commitment, perform their tasks better, and engage in more innovation.
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Which of the following is a competitive benefit experienced by the first mover firm in an industry?
A. The first mover will be able to reduce the switching costs. B. The first mover will be able to achieve a less steep learning curve. C. The first mover will not have to patent its products or technology. D. The first mover will be able to reduce costs through economies of scale.
A denial of credit based solely on the age of the borrower is always illegal
Indicate whether the statement is true or false
What is the basic purpose of the World Trade Organization (WTO)?
Default risk premiums
a. are unrelated to the issuer of the security. b. are higher for U.S. Treasury securities than for most corporate securities. c. are higher for AAA bonds than for CCC bonds. d. vary somewhat over time.