SlideShare une entreprise Scribd logo
1  sur  10
MANAGERIAL
EFFECTIVENESS
 Managerial effectiveness is the degree to
which management actions are achieving
the goals and objectives agreed for a
protected area.
 The evaluation of managerial
effectiveness help attain given objectives of
the organization, as well as, bring the
success and ultimate survival of the
organization. 1
MANAGERIAL
EFFECTIVENESS
 The need of managerial effectiveness is as
strong in public sector organizations as in
private enterprise organizations.
 Managerial effectiveness depends on
various elements, among of them are the
manager himself/ herself, the people
manager working with, and the
organization.
2
EFFECIENCY and
EFFECTIVENESS
 Efficiency is concerned with ‘doing things
right’, and relates to inputs and what the
manager does (as things that yield positive
results).
 Effectiveness is concerned with ‘doing the
right things’, and relates to outputs of the
job and what the manager actually
achieves (as completing a task cheaper or
faster). 3
EFFECTIVENESS
MANAGER and
SUCCESSFUL MANAGER
■ Effective managers: have the quantity and
quality of standards of performance, and the
satisfaction and commitment of
subordinates.
■ Successful managers: have the speed of
their promotion within an organisation.
EFFECTIVENESS
MANAGER and
SUCCESSFUL MANAGER
 The biggest contribution to effectiveness
came from communicating, human
resource management, and the weakest
from networking activity respectively.
 The biggest key to success came from the
networking activity, with the weakest
contribution from the human resource
management activity.5
MEASURES of
EFFECTIVENESS
The manager’s effectiveness may be assessed
in part by such key factors:
■ The strength of motivation and morale
of staff
■ The success of their training and
development
■ The creation of an organizational
environment in which staff work willingly
and effectively
6
MEASURES of
EFFECTIVENESS
For some management jobs, it might be possible
to identify other criteria of managerial
effectiveness, such as:
■ Meeting important deadlines
■ Accuracy of work carried out by the
department, perhaps measured by the number of
recorded errors
■ Level of complaints received from
superiors, other departments, customers or
clients, suppliers, the public
7
MEASURES of
EFFECTIVENESS
■ Adherence to quality standards, for
example, the amount of scrap or waste
material
■ Keeping within agreed cost or
budgetary control limits
■ Levels of output and productivity
8
CONCLUSION
The manager might be considered as the core
in the organization. Managerial effectiveness,
therefore, plays the key role throughout the
operation of the organization. The good
performance and effectiveness of the
managers is the advantage of an enterprise in
the competitive economy.
9
CONCLUSION
The manager might be considered as the core
in the organization. Managerial effectiveness,
therefore, plays the key role throughout the
operation of the organization. The good
performance and effectiveness of the
managers is the advantage of an enterprise in
the competitive economy.
9

Contenu connexe

Tendances

Strategic Human Resource Management
Strategic Human Resource ManagementStrategic Human Resource Management
Strategic Human Resource Management
Chanima Bhattacharya
 
principles of management important questions and answers for b.com students
principles of management important questions and answers for b.com studentsprinciples of management important questions and answers for b.com students
principles of management important questions and answers for b.com students
vaibhi191
 
Performance management 1
Performance management 1Performance management 1
Performance management 1
IMCOST
 

Tendances (20)

Induction and Orientation
Induction and OrientationInduction and Orientation
Induction and Orientation
 
Introduction to HRM
Introduction to HRMIntroduction to HRM
Introduction to HRM
 
Introduction to hrm 2
Introduction to hrm 2Introduction to hrm 2
Introduction to hrm 2
 
Strategic Human Resource Management
Strategic Human Resource ManagementStrategic Human Resource Management
Strategic Human Resource Management
 
Succession planning
Succession planningSuccession planning
Succession planning
 
Human Resource Management-Introduction
Human Resource Management-IntroductionHuman Resource Management-Introduction
Human Resource Management-Introduction
 
Employee induction programme
Employee induction programmeEmployee induction programme
Employee induction programme
 
Functions of Human Resource Management
Functions of Human Resource Management Functions of Human Resource Management
Functions of Human Resource Management
 
PERFORMANCE EVALUATION POWERPOINT
PERFORMANCE EVALUATION POWERPOINTPERFORMANCE EVALUATION POWERPOINT
PERFORMANCE EVALUATION POWERPOINT
 
Administrative Office Management
Administrative Office ManagementAdministrative Office Management
Administrative Office Management
 
Managerial roles
Managerial rolesManagerial roles
Managerial roles
 
training & development ppt
training & development ppttraining & development ppt
training & development ppt
 
principles of management important questions and answers for b.com students
principles of management important questions and answers for b.com studentsprinciples of management important questions and answers for b.com students
principles of management important questions and answers for b.com students
 
Performance management 1
Performance management 1Performance management 1
Performance management 1
 
Module1 HRM
Module1 HRMModule1 HRM
Module1 HRM
 
5 Solutions to Prevent Your HiPo Program From Failing
5 Solutions to Prevent Your HiPo Program From Failing 5 Solutions to Prevent Your HiPo Program From Failing
5 Solutions to Prevent Your HiPo Program From Failing
 
Mbo
MboMbo
Mbo
 
Developing employees
Developing employeesDeveloping employees
Developing employees
 
HRM an introduction
HRM   an introductionHRM   an introduction
HRM an introduction
 
OFFICE ORGANIZATION LECTURE THREE
OFFICE ORGANIZATION LECTURE THREEOFFICE ORGANIZATION LECTURE THREE
OFFICE ORGANIZATION LECTURE THREE
 

En vedette

Organisational behaviour (group 2)
Organisational behaviour (group 2)Organisational behaviour (group 2)
Organisational behaviour (group 2)
Wasim Akram
 
Managerial Effectiveness
Managerial Effectiveness Managerial Effectiveness
Managerial Effectiveness
Saurabh Giratkar
 
Managerial behaviour-and-effectiveness
Managerial behaviour-and-effectivenessManagerial behaviour-and-effectiveness
Managerial behaviour-and-effectiveness
Gautam Singh
 
Labour laws and acts in India for HR
Labour laws and acts in India for HRLabour laws and acts in India for HR
Labour laws and acts in India for HR
Anujith KR
 
Giving Effective Feedback.ppt
Giving Effective Feedback.pptGiving Effective Feedback.ppt
Giving Effective Feedback.ppt
Johnny Schaefer
 
Strategic management full notes
Strategic management full notesStrategic management full notes
Strategic management full notes
Kiruthika Ruthi
 

En vedette (20)

Managerial Behavior and Effectiveness PPT
Managerial Behavior and Effectiveness PPT Managerial Behavior and Effectiveness PPT
Managerial Behavior and Effectiveness PPT
 
Managerial Effectiveness
Managerial EffectivenessManagerial Effectiveness
Managerial Effectiveness
 
Organisational behaviour (group 2)
Organisational behaviour (group 2)Organisational behaviour (group 2)
Organisational behaviour (group 2)
 
Managerial Effectiveness
Managerial Effectiveness Managerial Effectiveness
Managerial Effectiveness
 
49981473 managerial-effectiveness
49981473 managerial-effectiveness49981473 managerial-effectiveness
49981473 managerial-effectiveness
 
Managerial behaviour-and-effectiveness
Managerial behaviour-and-effectivenessManagerial behaviour-and-effectiveness
Managerial behaviour-and-effectiveness
 
Labour laws and acts in India for HR
Labour laws and acts in India for HRLabour laws and acts in India for HR
Labour laws and acts in India for HR
 
The concept of efficiency and effectiveness
The concept of efficiency and effectivenessThe concept of efficiency and effectiveness
The concept of efficiency and effectiveness
 
Efficiency and effectiveness: Presentation with Examples
Efficiency and effectiveness: Presentation with ExamplesEfficiency and effectiveness: Presentation with Examples
Efficiency and effectiveness: Presentation with Examples
 
Giving Feedback
Giving FeedbackGiving Feedback
Giving Feedback
 
Giving Feedback. chapter 40. A practical guide for medical teachers. Harden
Giving Feedback. chapter 40. A practical guide for medical teachers. HardenGiving Feedback. chapter 40. A practical guide for medical teachers. Harden
Giving Feedback. chapter 40. A practical guide for medical teachers. Harden
 
Giving and receiving feedback
Giving and receiving feedbackGiving and receiving feedback
Giving and receiving feedback
 
10 steps in giving effective Feedback
10 steps in giving effective Feedback10 steps in giving effective Feedback
10 steps in giving effective Feedback
 
Giving Effective Feedback.ppt
Giving Effective Feedback.pptGiving Effective Feedback.ppt
Giving Effective Feedback.ppt
 
Priciples of management ppt final
Priciples of management ppt finalPriciples of management ppt final
Priciples of management ppt final
 
Business ethics
Business ethicsBusiness ethics
Business ethics
 
Strategic management full notes
Strategic management full notesStrategic management full notes
Strategic management full notes
 
البالونه المفقوده
البالونه المفقودهالبالونه المفقوده
البالونه المفقوده
 
قصه الكفاءه والفاعليه
قصه الكفاءه والفاعليهقصه الكفاءه والفاعليه
قصه الكفاءه والفاعليه
 
Managerial effectiveness - CASE STUDY SITUATIONAL
Managerial effectiveness - CASE STUDY SITUATIONALManagerial effectiveness - CASE STUDY SITUATIONAL
Managerial effectiveness - CASE STUDY SITUATIONAL
 

Similaire à Managerial effectiveness (phan 4)

57827159 mu-0016
57827159 mu-001657827159 mu-0016
57827159 mu-0016
sanjeeta03
 
performance apprisal
performance apprisalperformance apprisal
performance apprisal
umesh yadav
 
Chapter 2: Performance Management Process
Chapter 2: Performance Management ProcessChapter 2: Performance Management Process
Chapter 2: Performance Management Process
HRM751
 
Manager's manual rpms
Manager's manual rpmsManager's manual rpms
Manager's manual rpms
Julie Alvero
 

Similaire à Managerial effectiveness (phan 4) (20)

Performance management
Performance managementPerformance management
Performance management
 
6. PMS ppt NEW.pdf
6. PMS ppt NEW.pdf6. PMS ppt NEW.pdf
6. PMS ppt NEW.pdf
 
Sdf9 article performance_mangement
Sdf9 article performance_mangementSdf9 article performance_mangement
Sdf9 article performance_mangement
 
Performance Appraisal.pptx
Performance Appraisal.pptxPerformance Appraisal.pptx
Performance Appraisal.pptx
 
57827159 mu-0016
57827159 mu-001657827159 mu-0016
57827159 mu-0016
 
Mu0016 set-1
Mu0016 set-1Mu0016 set-1
Mu0016 set-1
 
UNIT II.pptx
UNIT II.pptxUNIT II.pptx
UNIT II.pptx
 
performance apprisal
performance apprisalperformance apprisal
performance apprisal
 
5.performance management
5.performance management5.performance management
5.performance management
 
Basics of management
Basics of managementBasics of management
Basics of management
 
Human Resource Planning & Development (HRDP)
Human Resource Planning & Development (HRDP)Human Resource Planning & Development (HRDP)
Human Resource Planning & Development (HRDP)
 
Chapter 2: Performance Management Process
Chapter 2: Performance Management ProcessChapter 2: Performance Management Process
Chapter 2: Performance Management Process
 
Tying employee performance to compensation in a high involvement organization
Tying employee performance to compensation in a high involvement organizationTying employee performance to compensation in a high involvement organization
Tying employee performance to compensation in a high involvement organization
 
Performance management and career planning
Performance management and career planningPerformance management and career planning
Performance management and career planning
 
CH 1 INTRTODUCTION TO MANAGEMENT.ppt
CH 1 INTRTODUCTION TO MANAGEMENT.pptCH 1 INTRTODUCTION TO MANAGEMENT.ppt
CH 1 INTRTODUCTION TO MANAGEMENT.ppt
 
Perforamance measurement
Perforamance measurementPerforamance measurement
Perforamance measurement
 
Performance management module 2 Kerala University
Performance management module 2 Kerala UniversityPerformance management module 2 Kerala University
Performance management module 2 Kerala University
 
PERFORMANCE MEASUREMENT SYSTEM [HR Paper 2 ] Module 4.pdf
PERFORMANCE MEASUREMENT SYSTEM [HR Paper 2 ] Module 4.pdfPERFORMANCE MEASUREMENT SYSTEM [HR Paper 2 ] Module 4.pdf
PERFORMANCE MEASUREMENT SYSTEM [HR Paper 2 ] Module 4.pdf
 
Manager's manual rpms
Manager's manual rpmsManager's manual rpms
Manager's manual rpms
 
developing organisational skills- Controlling, Supervising, problem solving
developing organisational skills- Controlling, Supervising, problem solvingdeveloping organisational skills- Controlling, Supervising, problem solving
developing organisational skills- Controlling, Supervising, problem solving
 

Dernier

FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
dollysharma2066
 
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Sheetaleventcompany
 
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
amitlee9823
 
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabiunwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
Abortion pills in Kuwait Cytotec pills in Kuwait
 
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
daisycvs
 
Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...
Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...
Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...
Anamikakaur10
 

Dernier (20)

FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
 
Uneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration PresentationUneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration Presentation
 
Business Model Canvas (BMC)- A new venture concept
Business Model Canvas (BMC)-  A new venture conceptBusiness Model Canvas (BMC)-  A new venture concept
Business Model Canvas (BMC)- A new venture concept
 
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
 
Call Girls Service In Old Town Dubai ((0551707352)) Old Town Dubai Call Girl ...
Call Girls Service In Old Town Dubai ((0551707352)) Old Town Dubai Call Girl ...Call Girls Service In Old Town Dubai ((0551707352)) Old Town Dubai Call Girl ...
Call Girls Service In Old Town Dubai ((0551707352)) Old Town Dubai Call Girl ...
 
RSA Conference Exhibitor List 2024 - Exhibitors Data
RSA Conference Exhibitor List 2024 - Exhibitors DataRSA Conference Exhibitor List 2024 - Exhibitors Data
RSA Conference Exhibitor List 2024 - Exhibitors Data
 
Organizational Transformation Lead with Culture
Organizational Transformation Lead with CultureOrganizational Transformation Lead with Culture
Organizational Transformation Lead with Culture
 
Katrina Personal Brand Project and portfolio 1
Katrina Personal Brand Project and portfolio 1Katrina Personal Brand Project and portfolio 1
Katrina Personal Brand Project and portfolio 1
 
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
 
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
 
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best ServicesMysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
 
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabiunwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
 
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
 
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
 
Call Girls In Panjim North Goa 9971646499 Genuine Service
Call Girls In Panjim North Goa 9971646499 Genuine ServiceCall Girls In Panjim North Goa 9971646499 Genuine Service
Call Girls In Panjim North Goa 9971646499 Genuine Service
 
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 MayIt will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
 
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
 
How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League City
 
Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...
Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...
Call Now ☎️🔝 9332606886🔝 Call Girls ❤ Service In Bhilwara Female Escorts Serv...
 

Managerial effectiveness (phan 4)

  • 1. MANAGERIAL EFFECTIVENESS  Managerial effectiveness is the degree to which management actions are achieving the goals and objectives agreed for a protected area.  The evaluation of managerial effectiveness help attain given objectives of the organization, as well as, bring the success and ultimate survival of the organization. 1
  • 2. MANAGERIAL EFFECTIVENESS  The need of managerial effectiveness is as strong in public sector organizations as in private enterprise organizations.  Managerial effectiveness depends on various elements, among of them are the manager himself/ herself, the people manager working with, and the organization. 2
  • 3. EFFECIENCY and EFFECTIVENESS  Efficiency is concerned with ‘doing things right’, and relates to inputs and what the manager does (as things that yield positive results).  Effectiveness is concerned with ‘doing the right things’, and relates to outputs of the job and what the manager actually achieves (as completing a task cheaper or faster). 3
  • 4. EFFECTIVENESS MANAGER and SUCCESSFUL MANAGER ■ Effective managers: have the quantity and quality of standards of performance, and the satisfaction and commitment of subordinates. ■ Successful managers: have the speed of their promotion within an organisation.
  • 5. EFFECTIVENESS MANAGER and SUCCESSFUL MANAGER  The biggest contribution to effectiveness came from communicating, human resource management, and the weakest from networking activity respectively.  The biggest key to success came from the networking activity, with the weakest contribution from the human resource management activity.5
  • 6. MEASURES of EFFECTIVENESS The manager’s effectiveness may be assessed in part by such key factors: ■ The strength of motivation and morale of staff ■ The success of their training and development ■ The creation of an organizational environment in which staff work willingly and effectively 6
  • 7. MEASURES of EFFECTIVENESS For some management jobs, it might be possible to identify other criteria of managerial effectiveness, such as: ■ Meeting important deadlines ■ Accuracy of work carried out by the department, perhaps measured by the number of recorded errors ■ Level of complaints received from superiors, other departments, customers or clients, suppliers, the public 7
  • 8. MEASURES of EFFECTIVENESS ■ Adherence to quality standards, for example, the amount of scrap or waste material ■ Keeping within agreed cost or budgetary control limits ■ Levels of output and productivity 8
  • 9. CONCLUSION The manager might be considered as the core in the organization. Managerial effectiveness, therefore, plays the key role throughout the operation of the organization. The good performance and effectiveness of the managers is the advantage of an enterprise in the competitive economy. 9
  • 10. CONCLUSION The manager might be considered as the core in the organization. Managerial effectiveness, therefore, plays the key role throughout the operation of the organization. The good performance and effectiveness of the managers is the advantage of an enterprise in the competitive economy. 9