CHARLES KELLY
U.S.A.
Generally, an agency is a relationship between one party, known as, principal , who authorizes another, known as the agent, to represent him or her in commercial or business dealings with third persons. Specifically, the agency relationships greatly influence the size and operations of every business unit. One principal, by using agents, may complete many business transactions in the same amount of time needed to personally conduct business. An organization simultaneously employs different strategies for different parts of the company.