6: Management and Leadership

Learning Objectives

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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