The management principles, which are now practiced by business practitioners and professionals, are based on scientific principles.

The five areas that influence today's business environment are globalization, technology, sustainability and corporate social responsibility, psychology, and ecosystems.

The quality of being able to maximize output with minimum input

Some of the companies failed to implement their strategies because of the lack of ________ who will execute them

"doing the right thing"

Capacity to attain an intended objective or result

The intention is to meet the desired goal regardless of the amount of input required

The driving force of people to do business in a faster way is _______

A ________ consists of a group of firms that provide related products and services to meet the needs and interests of all key players involved.

Process of planning, organizing, leading, and controlling the activities of an organization effectively and efficiently to achieve organizational goal.

Plays an important role in laying out the foundation of a profitable company strategy and attaining successful operations.

Provides the means to maintain a firm's competitive advantage

Seeks to limit the wasted input which is costly for a business

There is an element of ______ in efficiency since it requires things to be done quickly to avoid wasting ________

__________ are present in effectiveness.

Enables people to do business in any part of the world

Several concepts from ________ such as motivation, behavior, attitude, and personality, give managers the means to know their employees better.

Several concepts from ________ such as motivation, behavior, attitude, and personality, give managers the means to know their employees better.

Implements cost-saving mechanisms and responsible business practices.

The willingness of companies to run their business operations in a sustainable and responsible manner

The company's main reason to act on a particular decision or situation

The use of resources not owned by the firm, such as consultants, temporary employees, and suppliers

Reinforces the idea that companies should plan and conduct long-term business operations to ensure minimal negative impact on the social, cultural, and economic aspects of their external environment or community.

When the third party is located in another country

______ are important traits of managers that enable them to effectively use business strategies in any situation, and make innovations that result in new products, services, and processes.