The Management Function That Requires Managers to Look Ahead and Establish

question 1

Multiple Choice

The management function that requires managers to look ahead and establish objectives is

• A) controlling.
• B) directing.
• C) planning.
• D) constraining.

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Definitions:

Wage

The compensation paid to an employee for their labor, usually expressed as an hourly, daily, or weekly rate.

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Marginal Product

The additional output that results from using one more unit of a particular input while keeping other inputs constant.

Output

The quantity of products or services generated by a business, sector, or economic system over a certain timeframe.