Examlex
R.Seshasayee of Ashok Leyland suggests that good leadership requires three essentials:
Production
The method of integrating different physical and non-physical inputs, such as materials and ideas, to produce goods for use.
Opportunity Costs
Missing out on potential benefits from various options due to the selection of a single alternative.
Trade
The practice, in a market economy, in which individuals provide goods and services to others and receive goods and services in return.
Specialize
Specialize refers to the process of focusing efforts and resources on a narrow area of expertise or production to gain efficiency, higher quality, or other advantages.
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