List and Explain the Four Management Functions

question 39

Essay

List and explain the four management functions.

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Definitions:

Industry Share

The percentage of total sales or total output generated by a company within a specific industry.

Firms

Business organizations or entities engaged in commercial, industrial, or professional activities, aiming to provide goods or services to consumers for profit.

Employee Empowerment

A strategy where employees are given the authority, resources, and opportunity to take initiative and make decisions in their work, leading to increased engagement and productivity.

Recruitment Process

The series of actions an organization takes to attract, select, and hire employees.