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At an event crowded with strangers, a toddler calls each man, "Daddy." She makes the fast-mapping error called
Indirect Costs
Costs that are not directly attributable to a specific product or service but are necessary for the business to operate, such as utility expenses or salaried personnel.
Management Process
A systematic approach to planning, organizing, leading, and controlling a company's activities to achieve objectives.
Continuous Improvement
An ongoing effort to improve products, services, or processes by making small, incremental improvements over time.
Directing
The process by which managers, given their assigned level of responsibilities, run day-to-day operations.
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