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What is management by objectives? Mention its three steps.
Laws
Regulations and rules established by governments or other authorities to govern behavior and actions in a society.
Competitive Advantage
A situation or factor that gives a business an advantageous or dominant position over its rivals in the industry.
Monopolistic Market Position
A competitive standing where a single company or entity dominates the supply of a particular product or service in a market.
High Profits
Earnings that significantly exceed the costs and investments of a business, reflecting strong financial performance or market advantage.
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Q97: Give an example of how expectancy theory