Distinguish the difference between management and leadership
What will be an ideal response?
Management involves keeping the current situation operating through planning, budgeting, organizing, staffing, controlling and problem solving. Leadership, on the other hand, is concerned with the development of vision and strategies, and the empowerment of people to overcome obstacles and make the vision happen. Leadership reacts to changes in the competitive environment and is built and enacted through people and culture.
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Groups often develop through __________, or a process of alternating periods of stable functioning and dramatic change in norms, roles, and/or objectives caused by an event
a. productive energy b. stern discipline c. punctuated equilibrium d. groupthink
GAAS require the auditor to be independent. An auditor is independent if (s)he is
a. Competent b. Independent in fact and in appearance c. Consistent and independent in fact d. Logical and intellectually honest