Fayol Principles

  • Minto's Principle

    WHAT IS THE PYRAMID PRINCIPLE? DESCRIPTION Barbara Minto's Pyramid Principle is a hierarchically structured thinking and communication technique that can be used to precede good structured writing. The Minto Pyramid Principle assumes that you already know how to write good sentences and paragraphs. It concentrates instead on the thinking process that should precede the writing. The core of Minto's thinking method is to group Ideas in a presenter's thought process into small clusters that support

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  • Henri Fayol's Principles

    Management Principles developed by Henri Fayol:  DIVISION OF WORK: Work should be divided among individuals and groups to ensure  that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization.                                                                                                                    AUTHORITY: The concepts of Authority and responsibility are closely related. Authority

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  • 14 Principles of Management

    from it.  Subordination of individual interest (to the general interest). Management must see that the goals of the firms are always paramount.  Remuneration. Payment is an important motivator although by analyzing a number of possibilities, Fayol points out that there is no such thing as a perfect system.  Centralization (or Decentralization). This is a matter of degree depending on the condition of the business and the quality of its personnel.  Scalar chain (Line of Authority). A hierarchy

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  • Matching Principles

    The matching principle is one of the cornerstones of the accrual basis of accounting. Under the matching principle, when you record revenue, you should also record at the same time any expenses directly related to the revenue. Thus, if there is a cause-and-effect relationship between revenue and the expenses, record them in the same accounting period. Matching principle is relevant to the time period assumption. Revenue Recognition is an accounting principle under generally accepted accounting principles

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  • Pareto Principle

    The Pareto principle is one of the important managerial tool that can be used to identify alternatives which are worthy of attention during decision making. (Grosfeld-Nir, Ronen & Kozlovsky, 2007). Named after an economist, Vilfredo Pareto, and also known as the 80/20 rule, he stated that, “20% of the population possesses 80% of the wealth” (Grosfeld-Nir et. al, 2007 para ii). Liebler and McConnell (2008) call it “a criterion for decision making” (p 155) which suggests that every persons need should

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  • Fayol vs Mintzberg

    Henri Mintzberg considers the image of management which was developed from the work of Henry Fayol as one of folklore rather than fact. However, it could be argued that the image portrayed by Fayol is superior to that of Mintzberg, and the latter’s description is of rather ineffective management! Who do think is right? Over 50 years ago, English-speaking managers were directly introduced to Henry Fayol’s theory in management. His treatise, General and Industrial Management (1949), has had a great

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  • Management Principles - Notes from Website

    with/through people * Interact with superiors/sub-ordinates – maintain good relationships * Interpersonal activities= taking care of problem with sub-ordinates (bonus) Management as a Discipline – Branch of knowledge connected to study of principles, practices of basic administration * Specifies code of conduct to follow by manager and various methods for efficient resource management and enterprise management * Management=course of study formally taugh in institutes to complete degree/course

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  • Principle

    Sandhu, Jamiel Najmeddine Principle or rules based accounting Heston E Cummings, Daman Sandhu, Jamiel Najmeddine Principle or rules based accounting Table of Contents INTRODUCTION 3 Principle Based Accounting 4 Rule Based Accounting 6 CONCLUSION 7 REFERENCES …………………………………………………………………………………………… 8 Abstract There have been lots of discussions about principle and rule based accounting approaches, mostly people view U.S GAAP as rule based and IFRS as principle based. In this paper we

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  • Principles of Marketing

    Principles of Marketing Project MKTG205-1302A AIU Online/ Unit 4 IP William K. Patterson II. 5-27-13 Principles of Marketing Project 1 When a person is considering selling a product there are many factors that must be added in, there are many steps that one must be familiar with if they choose to go about having success. There are no short cuts a person must know their research and have a good understanding on what the product is that they are working with as well as who they are trying

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  • 14 Principles of Management by Henry Fayol

    Management Principles developed by Henri Fayol: DIVISION OF WORK: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization. AUTHORITY: The concepts of Authority and responsibility are closely related. Authority

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  • Henry Fayol

    Henri Fayol: Contributions to the classical stream of Management Theory Present management practices and theories have evolved from classical management theory created by organisation pioneers, and one such influential pioneer was Henri Fayol. Henri began his career as an engineer in a large French mine and eventually succeeded to become the director, here he realised the lack of resources available to managers for developing management practices. Fayol’s did not believe in the old ideas of

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  • Critically Examine the Functions of Management Proposed by Fayol. Explain Why These Functions Are Relevant to Today’s Managers.

    management proposed by Fayol. Explain why these functions are relevant (or otherwise) to today’s managers. The twentieth century has bought upon us a number of management theories which have helped to shape the overall view of management in the present environment of business. Many of those theories have stood the test of time and are still often referred to in the management world of today. One of the most famous theories referred to in management is that of Henri Fayol. Henri, a French engineer

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  • Principles of Management

    PRINCIPLES OF MANAGEMENT lecture notes Document Transcript • 1. UNIT I OVERVIEW OF MANAGEMENT Definition - Management - Role of managers - Evolution of Management thought - Organization and the environmental factors – Trends and Challenges of Management in Global Scenario. 1 • 2. Management - as how the mind controls the human body and its function similar management (mind) controls the various activities ( human body) in the Organisation - Collection of physical equipments, 4 M’s in Organisation

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  • Fayol

    Introduction Henri Fayol was born in 1841 in Istanbul, is often known as the person who developed a general theory of business administration. He was a mining engineer who worked as the managing director of a big French mining company named as Compagnie de Commentry-Fourchambeau-Decazeville for the last 30 years of his working life (1888–1918). He died in Paris in 1925. He suggested the following 14 principles as the general principles management: Fayol’s 14 principles derive from the circumstance

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  • Fayol or Mintzberg?

    Henry Amm Fayol or Mintzberg – Who is right? Date: 11/12/2011 Student Number: 110369257 Version 1.0 The task: Henri Fayol presented his analysis of the management function in 1916 and it has largely been superseded by the more descriptive approaches of what managers actually do, such that favored by Henry Mintzberg. However, it could be argued that the image portrayed by Fayol is superior to that of Mintzberg, and the latter’s description is of rather ineffective management! Who do you think

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  • Contribution of Henry Fayol & Max Weber on Management

    Science MBA Program Principles of Management Assay about: Positive contribution of Henry Fayol & Max Weber on the Management thought Prepared by: Nuha Mohamed Saeed - Batch 15 Henri Fayol: the Administrative Theory: Henri Fayol developed the Administrative Theory. While Weber emphasized the principles of an ideal bureaucratic organization, Fayol concentrated on the management layer. He focused on the personal duties of a manager at a much finer level than Weber did. Fayol stated that management

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  • Henri Fayol, Practitioner and Theoretician – Revered and Reviled

    text archive of this journal is available at www.emeraldinsight.com/1751-1348.htm Henri Fayol, practitioner and theoretician – revered and reviled Mildred Golden Pryor and Sonia Taneja Department of Marketing and Management, Texas A&M University-Commerce, Commerce, Texas, USA Abstract Purpose – Fayol’s theories were the original foundation for management as a discipline and as a profession. Also Fayol was the first to advocate management education. Yet he has critics who revile him (or at least

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  • Fletchers Principles

    teleological apart from its principle of love, because in the end result actions are right or wrong depending on their consequences, and by this it is simply embracing a form of relativism. “If the emotional and spiritual welfare of both parents and children in a particular family can be served by a divorce, then love requires it” – Fletcher. Situation ethics uses principles to illustrate the situation, however Situation Ethics does not direct the action. Fletcher divides these principles into two categories

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  • Accounting Principles

    Accounting principles 2 Every business and organization needs some form of accounting principles to run on. They are the foundations that either makes or breaks a corporation or business. Businesses from the small corner drugstore to the giant health care organizations work using these accounting principles every-day, simply by understanding the techniques used we are to understand

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  • Principles

    INTRODUCTION TO PRINCIPLES OF MANAGEMENT DEFINITIONS Management is a process of achieving organizational goals by engaging in the function of planning, organizing, leading and controlling. Kibera (1996) defines management as a set of activities directed at the efficient and effective utilization of resources in pursuit of one or more objectives. A manager is a person responsible for directing the efforts aimed at helping the organization achieve its goals. Managerial performance is

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  • Henri Fayol

    Assignment Q1) Describe how Henri Fayol explained the management function? ANS.1) Management is the achievement of organizational goals through the planning, organizing, delegating, commanding, coordinating and controlling functions. Management is an ongoing activity, entailing goal attainment and knowing how to carry out management’s major functions. These functions are crucial to effective management. Henri Fayol placed management center stage and secondly he pondered the question of

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  • Fayol Four Functions and Katz Skills

    functions which describe the four functions of managers (Peterson & Van Fleet, 2004). Moreover, skills proposed by Katz (1974) which examine skills needed at different management levels are also assessed. (Pavett & Lau, 1983) According to Fayol (1916), the four functions of manager include planning, organising, leading and controlling (Lamond, 2004). Under planning function, managers define goals, establish strategies and develop plans to manage the work activities. In the organisation,

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  • Management Principles

    Management Principles Introduction Management is a vital role of the HR department that ensures that an organization has what it takes to accomplish its goals and objectives. It comprises interrelated social and technical functions and activities that pull people and other resources together in a formal organizational setting in the effort of facilitating the achievement of these goals. Management principles refer to some strategically developed guidelines and set timelines that are used

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  • Principles of Management

    Introduction Fayol’s 14 principles derive from the circumstance that Fayol felt that management was not well defined. In his striving to change this circumstance he suggested “some generalized teaching of management” to be a main part of every curriculum at places of higher education and even beginning in “primary schools” . Fayol’s dedication to this idea is demonstrated by the fact that after retirement he went on to not just write books about management ideas, but more importantly, he found

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  • Fayol Principles

    Management Principles developed by Henri Fayol: DIVISION OF WORK: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization. AUTHORITY: The concepts of Authority and responsibility are closely related. Authority

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  • Marketing Principle

    Marketing Principles Table of Contents Introduction 1 Assignment 1 1 LO 2.1 show macro and micro environmental factors which influence marketing decisions 1 Assignment 2 3 LO 1.1 explain the various elements of the marketing process 3 LO 1.2 evaluate the benefits and costs of a marketing orientation for a selected organization 3 LO 2.2 propose segmentation criteria to be used for products in different markets 4 LO 2.3 choose a targeting strategy for a selected product/service 4 LO 2.4

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  • Accounting Principles

    Introduction to Accounting Principles There are general rules and concepts that govern the field of accounting. These general rules–referred to as basic accounting principles and guidelines–form the groundwork on which more detailed, complicated, and legalistic accounting rules are based. For example, the Financial Accounting Standards Board (FASB) uses the basic accounting principles and guidelines as a basis for their own detailed and comprehensive set of accounting rules and standards. The phrase

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  • The Principles of Fundraising

    THE PRINCIPLES OF FUNDRAISING IN THE ORGANIZATION Fundraising is a demanding and often a lonely job with all the difficulties inherent in raising money and a steady flow of rejections; it’s easy to get down heaviest. Proper management of the fundraisers job means: keeping in touch with the work of the organization, the person should be in regular touch with the field, setting targets and monitoring progress, access to information, training and meeting other fundraisers and finally free time to

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  • The Holographic Principle

    The Holographic Principle Andrew J. Birk Jr. Argosy University Page 1 Abstract The holographic principle; a seemingly abstract idea almost out of reach from the mentality of the average person that suggests the entire basis of existence is merely illusory images. William Blake, the early 18th century English poet in Auguries of Innocence made allegory to this notion: "To see the world in a grain of sand

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  • Fayol and Mintzberg

    empirical studies of what managers actually do, such as that favoured by Mintzberg. When writing your essay, you may wish to consider the following: * The different perspectives on management taken by Fayol and Mintzberg; * The different approaches to the study of management taken by Fayol and Mintzberg; * Your essay should be analytical and discursive, not simply a description and comparison of Fayol’s and Mintzberg’s work; * Be wary of internet sources – anyone can put anything on the

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  • Principles of Management Paper

    Subject Code-B101 Principles and Practices of Management Part One Multiple Choices: 1. A plan is a trap laid to capture the ________ Answer: a. Future 2. Which of the following is the function for employing suitable person for the enterprise? Answer: b. Staffing 3. ___________ means “ group of activities & employees into departments”: Answer: d. Departmentation 4. This theory states that authority is the power that is accepted by others: Answer: a. Acceptance theory

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  • Fayol Question

    theorists on Blackboard and Mintzberg’s article itself. There are also two articles about Fayol and Mintzberg on Blackboard which should be helpful. ------------------------------------------------- Q Given the essay title, would you recommend that I only refer to Fayol and Mintzberg in the essay? Or would you recommend that I also consider other theorists such as Handy? A The question explicitly refers to Fayol & Mintzberg’s views, but you may include any other theorists/researchers whose work

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  • Principle of Management

    PRINCIPLES OF MANAGEMENT COURSE TUTORIAL QUESTIONS Instructor: Raza Kamal Updated: 1 Jun 2014 All of these questions will appear in your exams and no other!! Foundation of Management – Chapter 1 Q. 1: What does a manager manage? Why is managing different in the new competitive landscape? Q. 2: What are the four management functions and how do they interrelate? Q.3: Why do managers need conceptual skills? Why are technical and interpersonal skills important

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  • Fayol and Mintzberg

    activities of an organisation, and the modern approach to management which emphasized organisational effectiveness through focus on strategic issues. Fayol had the classical approach to management while Mintzberg had the modern approach. Mintzberg (2005) said the four words; planning, organizing, coordinating and controlling introduced by Fayol only indicate vague objectives that managers have when they work. Throughout this essay I am going to explore the claim that Fayol’s classic analysis

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  • 14 Fayols

    The Principles of Management Management principles are statements of fundamental truth. These principles serve as guidelines for decisions and actions of managers. They are derived through observation and analysis of events which managers have to face in practice. Fayol developed 14 Principles of management 1. Division of Work - The specialization of the workforce according to the skills of a person , creating specific personal and professional development within the labour force and therefore

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  • Henri Fayol

    Division of Work: This principle of Fayol tells us that as far as possible the whole work should be divided into different parts and each individual should be assigned only one part of the work according to his ability and taste rather than giving the whole work to one person. When a particular individual performs the same job repeatedly, he will become an expert in doing that particular part of the whole job. Consequently, the benefits of specialisation will become available. For example, a furniture

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  • Mintzberg V Fayol

    in the real world- the most important aspect of management. Henri Fayol (1841-1925) was a prominent French industrialist. Based on his extensive personal experience in management, he proposed that there were five basic functions which management performs in his French treatise "Administration Industrielle et Générale (1916)" which in 1949 was translated into English as "General and Industrial Management". According to Fayol, a manager's work comprised of a constant cycle of the following five

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  • Management Principles

    Q1. Briefly describe the four management functions. Managers perform certain functions while directing the activities of other people working in the organization. Henri Fayol a French industrialist proposed that all managers perform five management activities: plan, organize, command, coordinate, and control. Now they are evolved to four functions: 1. Planning Planning is a primary management function because it establishes the basis for all other things managers do as they lead, organize and

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  • Mangagement Principles

    Management Principles xxxxxxxxxxx MAN103 xxxxxxxxxx 30 September 2013 According to Henri Fayol there are fourteen management principles (sherzad, 2011). I will not be expounding on all of them however, I will be discussing a few of them and applying them to real life. The five I feel are most important will be detailed below. They are also the first five on his list; Division of Labor, Authority and Responsibility, Unity of Command, Unity of Direction, and Equity. In conclusion I will

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  • Taylors Principle

    Identify Taylors principles of management Henry Fayol is considered as the father of modern management. He identified a wide spread need for principles and management teaching. He identified 14 principle of management which is flexible, not absolute, must be usable regardless of changing conditions. The principles are- 1. Division of work: work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work

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  • Henri Fayol: the Administrative Theory

    Henri Fayol: The Administrative Theory Henri Fayol developed the Administrative Theory. While Weber emphasized the principles of an ideal bureaucratic organization, Fayol concentrated on the management layer. He focused on the personal duties of a manager at a much finer level than Weber did. Fayol stated that management had five principle roles: planning, organizing, commanding, coordinating, and controlling. Planning meant anticipating the future and acting towards it. Organization meant the development

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  • Anthropic Principle

    “Response on the Anthropic Principle” The Anthropic Principle, formally proposed at a conference in Poland by Brandon Carter in 1973, is a theory that strongly suggests that humanity holds a special place in the Universe. This topic has become widely discussed and debated topic among scientists. Two branches of the theory are the strong anthropic principle (SAP) and the weak anthropic principle (WAP). The SAP states, “The Universe must have those properties which allow life to develop within it

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  • Principle of Management

    PRINCIPLES OF MANAGEMENT SHORT QUESTIONS AND ANSWERS UNIT: I 2 MARKS 1. Define Management. According to KOONTZ & WEIHRICH, “Management is the process of designing and maintaining of an environment in which individuals working together in groups efficiently accomplish selected aims”. “Management is the art of getting things through and with people in formally organized groups”. Ex: Human Resource Management, Financial Management. 2. Is Management - an art or science? Managing as practice

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  • Bernoulli's Principle

    Garibay, Andrés Resp21 04/04/14 Bernoulli's Principle Bernoulli's Principle is named after the Dutch-Swiss mathematician, named Daniel Bernoulli. He revealed his principle in his 1783 book titled Hydrodynamica. In it it states that a fluid without viscosity when it increases in speed will decrease in pressure and in the fluid's potential energy. Bernoulli's principle can be applied to many types of fluid flow through the use of whats called Bernoulli's equation. There are actually different

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  • Management Principles

    Individuals who direct the activities of others in organisations. Functions of Management ( Fayol): • Planning, Organising, Leading, Controlling The Functions Approach • In the functions approach proposed by French industrialist Henri Fayol (1916), all managers perform four management activities • These activities are relevant to all managers, in all fields and industries • Originally Fayol proposed five functions/activities – plan, organise, command, coordinate and control Management

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  • Ethical Principles

    Ethical Principles John Durham III PSY/305 March 7, 2016 Dr. Daven Salmi Ethical Principles Introduction The ethical issue that I chose to examine was an article about the relationship between ethical and abusive coaching behaviors and student-athlete well-being. I found this article very interesting because not a lot of people are aware of the ethical issues that have been and are currently going on in the athletic background. Believe it or not there are many ethical issues that relate

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  • Fayol Principle Applied in Burger King

    concepts are like two sides of a coin. APPLY: Burger king has very well used this principle of authority and responsibility, when a manager delegates his authority to any staff member to manage the front counter and customer service and handling customer behaviour he gives certain amount of responsibility aswell so that the worker can manage everything efficiently and effectively … DISCIPLINE: According to Henry Fayol, discipline is believing in the organisation and work with full obedience and energy

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  • Henry Fayols 14 Principles of Management

    ACCOUNTING ADP/1/12/H/0460 HENRY FAYOLS PRINCIPLES OF MANAGEMENT BY: AJIBODU OLAYEMI INTRODUCTION: In this (presentation) I shall be discussing Henry Fayols 14 principles of Management. To this end, I will like to take a look at the general definitions of Management from various proponents as well as look at the meaning of principles; especially in the context of Management. Before going into the work proper, the analysis of Henry Fayols Principles of Management theory, I will render

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  • It Guiding Principles

    Information Technology Guiding Principles Information technology services are governed by a set of guiding principles. These principles were developed to express the fundamental concepts and guiding themes for global information technology initiatives, and to assure that activities and IT accomplishments are aligned with corporate strategic goals. Guiding principles document the essential notions for information technology services, provide direction to assure

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  • Henri Fayol

    Henri Fayol was a French mining engineer and director of mines who had developed a general theory of business administration.  He was one of the most influential contributors to modern theories of management. He also identified 5 functions and 14 general principles of management in the early 19th century. These functions and principles were based on his experience and observations and were made for general administration purposes. While today’s economy may be more service oriented, one would feel

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