Define the three types of principal skills that managers need according to Robert Katz. At which level of management is each skill most important?
What will be an ideal response?
Technical skills consist of job-specific knowledge needed to perform well in a specialized field. Having the requisite technical skills seems to be most important at the lower levels of management—that is, among first-line managers.
Conceptual skills consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together. Conceptual skills are particularly important for top managers, who must deal with problems that are ambiguous but that could have far-reaching consequences.
Human skills are the ability to work well with others to get things done. These skills—the ability to motivate, to inspire trust, to communicate with others—are necessary for managers of all levels.
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A major advantage of franchising for the franchisor is the:
A. enhancement of competition among the retail outlets. B. absence of state or federal regulations governing this form of business conduct. C. right to share a trade mark with the franchisee that is well known and/or highly advertised. D. ability to gain considerable control over the distribution of its products without owning the retail outlets.
The accountant for Haven Industries could not prepare the following budgets because an item of information is missing for each one. Identify the missing items needed prior to preparing each budget.
What will be an ideal response?
Hypotheses are educated guesses about the relationships between things or about what will happen in the future.
Answer the following statement true (T) or false (F)
A merchandising business sells goods that it produces.
Answer the following statement true (T) or false (F)