Read the following scenario and answer the question in 5–10 sentences. Corinne owns a small consignment shop located in the heart of Trader City. When she's away from the store looking for good deals at yard sales, her friend Sarah helps cover the store. Corinne has provided Sarah with specific instructions that she's allowed to come down 15 percent on prices for sales, but in no way is she to make any purchases. One Saturday, while Corinne was out at yard sales, Sarah was covering the store and made several sales throughout the day. At the end the day, a regular customer came into the store offering to sell Sarah various paintings for $200. Having previously met the customer, Sarah took a look at the paintings. She noticed that one of the paintings was rare and was worth around $2,500. Although being told by Corinne not to make any purchases, she was sure that Corinne would be pleased. With this in mind, Sarah decided to go ahead with the purchase. Corinne returned to the store later in the evening and was indeed pleased with the purchase. The next day, the customer discovered the true value of the painting and returned to the store wanting her painting back. If you were Corinne, how would you address this situation?
Read the following scenario and answer the question in 5–10 sentences. Corinne owns a small consignment shop located in the heart of Trader City. When she's away from the store looking for good deals at yard sales, her friend Sarah helps cover the store. Corinne has provided Sarah with specific instructions that she's allowed to come down 15 percent on prices for sales, but in no way is she to make any purchases. One Saturday, while Corinne was out at yard sales, Sarah was covering the store and made several sales throughout the day. At the end the day, a regular customer came into the store offering to sell Sarah various paintings for $200. Having previously met the customer, Sarah took a look at the paintings. She noticed that one of the paintings was rare and was worth around $2,500. Although being told by Corinne not to make any purchases, she was sure that Corinne would be pleased. With this in mind, Sarah decided to go ahead with the purchase. Corinne returned to the store later in the evening and was indeed pleased with the purchase. The next day, the customer discovered the true value of the painting and returned to the store wanting her painting back. If you were Corinne, how would you address this situation?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Read the following scenario and answer the question in 5–10 sentences.
Corinne owns a small consignment shop located in the heart of Trader City. When she's away from the store looking for good deals at yard sales, her friend Sarah helps cover the store. Corinne has provided Sarah with specific instructions that she's allowed to come down 15 percent on prices for sales, but in no way is she to make any purchases. One Saturday, while Corinne was out at yard sales, Sarah was covering the store and made several sales throughout the day. At the end the day, a regular customer came into the store offering to sell Sarah various paintings for $200. Having previously met the customer, Sarah took a look at the paintings. She noticed that one of the paintings was rare and was worth around $2,500. Although being told by Corinne not to make any purchases, she was sure that Corinne would be pleased. With this in mind, Sarah decided to go ahead with the purchase. Corinne returned to the store later in the evening and was indeed pleased with the purchase. The next day, the customer discovered the true value of the painting and returned to the store wanting her painting back. If you were Corinne, how would you address this situation?
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