Briefly Discuss the Guidelines to Be Followed by Managers When

question 37

Essay

Briefly discuss the guidelines to be followed by managers when setting out to manage a culturally diverse team.

---

Definitions:

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Circular Flow

A model in economics that illustrates how money moves through an economy between producers and consumers, highlighting the interdependencies of different economic sectors.

Public Ownership

Ownership of assets by the government or public entities, as opposed to private individuals or companies.

Competition

the rivalry among businesses to attract customers and achieve such goals as higher sales, market share, and innovation.