Explain the Procedure a Manager Should Follow to Build Support

question 119

Essay

Explain the procedure a manager should follow to build support for his or her project idea.

Identify the impacts of psychological phenomena on managerial decision-making.

Describe the concept of benchmarking and its importance in management.

Recognize the complexity of decision-making models in the context of governmental and organizational structures.

Understand the types of decisions in management and their application.

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Definitions:

Smoot-Hawley Tariff

A U.S. law enacted in 1930, which raised tariffs on over 20,000 imported goods to record levels, leading to a significant decrease in international trade.

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, starting in the United States following the stock market crash of 1929.

Revenue-Raising

Activities or policies implemented to increase the financial income of an organization or government.

Farm Subsidies

Financial support and assistance given by the government to farmers and agribusinesses to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.