• The Agency is, in general terms, any partnership between two parties in which one, the agent, represents the other, the principal, in day-to-day transactions. 
• The Principal or Principal has hired an agent to provide a service on their behalf.
• Principals shall delegate the decision-making power to the officers. 
• Since the agent makes several decisions that impact the principal financially, differences of opinion and even differences in priorities and interests can arise. 
• It is often referred to as the dilemma of the main agent.
• By interpretation an agent is using a principal's resources. 
• The principal has entrusted money, but has little to no input on a daily basis. 
• The agent is a decision maker but is incurring little to no risk as any risks would be borne by the principal.

• Strategic alignment theory suggests that firms use the strategy of M&As to quickly adjust to changes in their external environments. 
• Strategic planning is concerned with the firm’s environment and its constituencies. The strategic planning approach to merger implies that there is a possibility of achieving economies of scale or using the underutilized managerial capacity of the firm.
•  It may also mean that by external diversification the firm acquires management skills needed for increasing its present capabilities.

Top 10 Disastrous Mergers & Acquisitions (M&A) show that not all merger & acquisitions give a good impact on the company and some of them become worse. Although the M&A will give you the opportunity to monopoly or gain more territory of the certain industry, they also will be sharing the burden that have been acquire by the company before the merge like poor management in financial or strategic geographic market area. Example like Kmart+Sears (2005). On the video says that the company have a problem because of the store is not near the customer. It also because of the poor investment and shrinking in revenue that make a company in the bad shape. Now in 2020  most of the Sears and Kmart company gone closing most of the store. 

• The video is mainly about the top 10 business mergers and acquisitions of all time which are considering unions that remain standing as a single entities today. In addition, it also focusing on mergers and acquisitions deals where buying parties acquired prominent subsidiaries that helped them enter into a new market and consolidate a leadership position.
• For example, based on this video, the second place held by Google and Applied Semantics. In April 2003, Google successfully purchased Applied Semantics and was further developed along with google pre-existing AdWords to create the perfect ad based machine. The reason is Google used Applied Semantics to improve its contextual targeting technology. Moreover, Applied Semantics helped accelerate the AdSense product, one which today delivers billions of dollars in revenue to Google.

• The video is focusing on the top 10 disastrous mergers and acquisitions in the business history. For this list, only considered mergers where the two parties were more or less of equal size or where the deal was at least billed as a merger of rough equals.
• For examples, New York Central and Pennsylvania Railroads which at the ninth place. Their attempt to remain relevant alongside the booming auto industry. Penn Central became one of the United States' biggest corporation. Unfortunately, it could not survive with inflation, bad management, internal conflicts as well as massive cost cutting. At last, Penn Central filed for the biggest corporate bankruptcy in 1970 due to promised of $200 million government loan never materialized.