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- Please explain the following terms: 1.Agency costs 2.Agency problems 3.Agency asymmetry problems 4.Decision rights 5.Influence costsI need a dishonesty/crime policy for my towing company. First choice towing and recovery llcAgency Issues. One of the “Finance through the Ages” episodes that we cited is the 1993 collapse of Barings Bank, when one of its traders lost $1.3 billion. Traders are compensated in large part according to their trading profits. How might this practice have contributed to an agency problem?
- How can organizations effectively manage and mitigate liability risks associated with multiple parties involved in a project or business transaction?In what ways do Property Rights and Principal Agent theories help explain the development of the firm? How may these ideas be linked to the low cost airline industry?What are the main differences between Mediation, Arbitration, and Negotiation? Give an example when you would suggest in business to use an ADR method vs. going to trial and the reasons .
- a) When is there an enforceable contract? Is it when the parties agree on the business terms or when the legal terms are finalized? Explain highlight an example of a business situation b) Explain why an enterprise which is making profit can still go under? c) What is controlling as a management function and what systems are put in place as control systems? d) What is budgeting and what are the benefits of budgeting?What is the principle of charity and what role does it play in argument analysis?You are the director of health information services at a tertiary-care hospital. You and the director of emergency room services are jointly responsible for reporting instances of communicable disease, child abuse, and cancer to the appropriate state authority. You have just completed an audit of your institution’s reporting mechanism and discovered that the reporting requirements are not consistently met. The audit could not definitively establish whether the reporting never occurred or occurred but was not documented in the patient’s health record. Discuss what legal issues are present and what approaches you should take to resolve this problem.
- What is a win-win negotiation? What are the characteristics that make for a win-win negotiation?Imagine that you work for a mortgage broker. You are considering the application for a mortgage for someone who falls below the income threshold. When you bring the application to your supervisor, she tells you “Just approve it. We need to make our quota this month. Who cares if they go into foreclosure!” Referring to the suggestions in your text about how to resist requests to act unethically, what would you do?A timeworn story tells of a seasoned woodcutter who had been chopping down twenty trees a day since he was a boy. As he reached his golden years, the local townspeople bought him his first chain saw. The old man was grateful but somewhat confused as he took the gift away. Days later, looking haggard and pale, he appeared in town. When asked how his chain saw had changed his job, he confessed to great frustration. His tree cutting production had dropped 50% to only ten trees per day, and he was more fatigued than before. Concerned that the gift might not be working properly, a townsman grabbed it from the old man’s hands and started it up. As the chain saw roared to life, the old man cried, “What’s that noise? What’s that noise?” Instructions Think of the townspeople as managers and the woodcutter as an employee. Identify one rule for “good” managers that can be developed from the situation described in the story above. In response remember to identify the good management…