ENTREPRENEURIAL OPERATIONS
CHAPTER 7 ENTREPRENEURIAL LEADERSHIP AND MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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efficiency
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effectiveness
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synergy
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productivity
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Detailed explanation-1: -Management is the process of using organizational resources to achieve organizational goals effectively and efficiently through planning, organizing, leading, and controlling. An efficient organization makes the most productive use of its resources.
Detailed explanation-2: -It is the responsibility of management to see that essential activities are done efficiently (in the best possible way) and effectively (doing the right thing). The management process consists of four primary functions that managers must perform: planning, organizing, leading, and controlling.
Detailed explanation-3: -Lussier (2021) defines a manager as “the individual responsible for achieving organizational objectives through efficient and effective utilization of resources” (p.