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In 1955, Katz Suggested Three Types of Skills Required of a Manager

question 19

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In 1955, Katz suggested three types of skills required of a manager and/or leader. They are:


Definitions:

Specialized

Having expertise or focusing on a specific area of knowledge, function, or skill.

Trade

The exchange of goods and services between individuals or entities, often in different countries or economies.

Production Possibilities

The various combinations of goods and services an economy can produce given its available resources and technology.

Opportunity Cost

The price paid for not selecting the second-best choice when deciding between options.

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