Examlex
The phases of the management process are listed below.Match each phase to the appropriate description.
_____ Planning
_____ Directing
_____ Controlling
_____ Improving
_____ Decision making
a)Used by managers for continuous improvement
b)Managers must decide how to respond to unfavorable performances
c)Used by management to develop the organization's objectives and goals
d)Monitoring the operating results of implemented plans and comparing actual results to expected results
e)Process by which managers run day-to-day operations
Trustee
A legal entity or person appointed to manage and administer property or assets for the benefit of a third party.
Testamentary Trust
A trust that is created according to the instructions in a will, coming into effect upon the death of the person who created the will.
Administrator of the Estate
An individual appointed by a court to manage and distribute the assets of a deceased person's estate when there is no will.
Revocation
The official cancellation or withdrawal of a decree, decision, or promise.
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