By the end of the chapter, you should be able to:
- Identify the four interrelated functions of management: planning, organizing, leading, and controlling.
- Explain the process by which a company develops and implements a strategic plan.
- Explain how managers direct others and motivate them to achieve company goals.
- Describe the process by which a manager monitors operations and assesses performance.
- Explain what benchmarking is and its importance for managing organizations.
- Describe the skills needed to be a successful manager.
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