Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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How does studying theoretical perspectives prepare you for being a manager? (HINT: There are six reasons.)
Explain each reason with an example.
1. Understanding of present.
2. Guide to action.
3. Source of new ideas.
4. Clues to the meaning of your managers decisions.
5. Clues to the meaning of outside events.
6. Producing Positive results.
Expert Solution
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Step 1
Managers are essential for business, whether they are deciding what to do, allocating resources, or negotiating contracts.
Since the Industrial Revolution, managers have been a crucial component of company success.
Since management first became a typical component of commercial activities, theories of management have been established and used.
New ideas are continually being produced to stay up with current business developments, even while earlier theories still retain some validity.
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