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In a socialist economic system,_____.
Good Management Practices
A set of actions, methods, and procedures used by managers to effectively lead their teams and achieve organizational goals.
Chain of Command
The hierarchy within an organization that establishes authority and responsibility, dictating how instructions are passed down and how issues are escalated.
Specialization of Labor
The division of labor into specific tasks and roles, aimed at increasing efficiency and productivity in the workforce.
Delegation
The process of assigning responsibility and authority to others to carry out specific tasks.
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