The Management Process
Objective 5-1 Describe the nature of management and identify the four basic functions that constitute the management process.
All corporations depend on effective management. Whether they run a multibillion-dollar business such as Google or Apple or a small local fashion boutique or corner taco stand, managers perform many of the same functions and have many of the same responsibilities. These include analyzing their competitive environments and planning, organizing, directing, and controlling the day-to-day operations of their business. Ultimately, they are also responsible for the performance and effectiveness of the teams, divisions, or companies that they head.
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