LEGITIMACY THEORY Definition

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LEGITIMACY THEORY posits that businesses are bound by the social contract in which the firms agree to perform various socially desired actions in return for approval of its objectives and other rewards, and this ultimately guarantees its continued existence.

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C&F (COST & FREIGHT) includes all shipping costs but insurance. Generally used in statement of terms, stating cost and freight are paid by the exporter from his warehouse to a port in the importers country. In this case, the buyer is responsible for insurance.

ORGANIZATIONAL ENABLERS are the skills and knowledge, the tools and resources, and the culture of the organization that will enable it to achieve strategy.

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