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management components (basic issues: (personal limitations: (lack of…
management components
basic issues:
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personal limitations:
lack of requisite knowledge, training, experience
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strategy formulation
how to obtain the objectives, how and what resouces are used
strategy put constrains on employees to focus activities on what the organization does best or areas where it has an adavantage over competitors
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objective setting
objectives are predetermined in advance (prerequisite)
financial vs non financial
quantified, explicit vs implicit
economic, social, environmental or social
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