Samsung and Apple actively generate new ideas, relentlessly pursue new solutions, and quickly work to get new products to market
They serve customers who want state-of-the-art products and services, regardless of the costs in terms of price or inconvenience. Which of the following value disciplines is illustrated from this example?
A) operational excellence
B) customer intimacy
C) product leadership
D) product activation
E) product binning
C
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Which of the following statements pertaining to life insurance premiums is NOT correct?
A) The interest factor is a premium charge based on assumed lost earnings after claims. B) An insurance company invests the premium money it collects to earn interest. C) The expense factor in premium ratemaking frequently is referred to as loading. D) For an insurance company, the costs of doing business must be reflected in its premiums."
Dora Dolby was employed as an agent for Ace Used Car Company to purchase newer-model used cars. Her authority was limited by a $3,000 maximum price for any car. A wholesaler showed her a 1938 classic car that was selling for $5,000. The wholesaler knew that Ace only dealt in newer-model cars and that Dolby had never paid more than $3,000 for any car. Dolby bought the car for Ace, convinced that it was worth at least $7,000. When she reported this to Ted Williams, Ace's owner, Williams was furious but nevertheless authorized processing of the automobile for resale. Williams also began pricing the car with antique car dealers who indicated that the current value of the car was $4,800. Williams called the wholesaler to state that Dolby had exceeded her authority, that he was returning the
car, and that he was demanding repayment of the purchase price. What is the wholesaler's best defense in the event of a lawsuit? A. Dolby had apparent authority to purchase the car. B. Dolby's purchase was effectively ratified by Ace. C. Dolby had express authority to purchase the car. D. Dolby had implied authority to purchase the car.