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Question 1
Planning is the primary and basic management function. It has to be pre-decided to signify the actions in future. It is an intellectual procedure of management that the company follows with several blueprints, methodologies and discussions. This concept includes formulating effective policies, advertisement objectives, budget segregation, marketing strategies, etc. (Sargeant & George, 2021). Planning assists in offering direction …
Set 1
Question 1
Human Relations Approach emphasizes mainly the individual desires and resulting actions of teams and individuals. This considers an interpersonal strategy for handling humans. This further depicts the company is composed of formalized and informal components. It can be said that the formal components of a company entail its structure while informal areas entail the collaborations between individuals. The features of this approa…
Set 1
Question 1
Three barriers to listening are as follows:
Cultural barriers: It is noteworthy that accents might be barriers to listening as these can interfere with the capability of understanding the meanings of words that are pronounced distinctly. It can be said that the issue of diverse accents happens not just between cultures but also within a culture.
Lack of training: It is worthwhile that listening is not an innate ability. Ind…
Question 1
Business entity concept – It is an accounting principle that signifies that the business proprietors must keep business and personal records separately (Weygandt et al., 2019). This notion holds that the firm is an enterprise or an institution that has its rights separate and different identity from the parties who produce the funds. Doing this requires the usage of separate accounting records from a company that entirely excl…
Question 1
Managerial economics is regarded as the subdivision of economics that deals with the claim of several theories, concepts, and practices of economics to resolve real-world difficulties in managing business. It is majorly used to identify the balanced solution to issues encountered by companies. These issues may include matters around cost, demand, marketing, production, and marketing and are also used for upcoming planning (Hernandez, …
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