ECONOMICS

Detailed explanation-1: -The most important resource available to managers is the company’s employees. When deciding how to get work accomplished, the first step for managers is to develop a budget. As first-level managers, supervisors are responsible for the day-to-day activities of the company’s employees.

Detailed explanation-2: -It’s the people. The employees of any organisation are the driving force behind its success. They design and build a product, they promote the product in the market, the sales team sell the product and a team of employees support customers using the product. Without people there is no organisation.

Detailed explanation-3: -Effective communication is a staple that all the best managers have. This not only means communicating job responsibilities and expectations, it means listening to your team and working with them to produce results within their position.

Detailed explanation-4: -Of the four main resources available to management, perhaps the most important is the organization’s financial resources. Strategic planning is the process of establishing an organization’s major goals and objectives and allocating the resources to achieve them.