Business Essentials, 12/e

Part 2 Managing the Business

Chapter 5 Managing the Business

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Science and statistics don’t hold all the answers; managers must rely on their gut—on the basis of intuition, experience, instinct, and personal insight.

Learning Objectives

After reading this chapter, you should be able to:

1. 5-1 Describe the nature of management and identify the four basic functions that constitute the management process.

2. 5-2 Identify different types of managers likely to be found in an organization by level and area.

3. 5-3 Describe the basic roles and skills required of managers.

4. 5-4 Explain the importance of strategic management and effective ...