MGT101 SEU Styles of Management Discussion

ECON101Discussion-1-Choose a product of your own choice and complete the following. [5 Marks]A. Discuss which type of market does that product belong to? and why?B. Discuss the price elasticity of demand for this chosen product to increase total revenue.——————————————————————-9.1 Learning Outcomes:Describe managers’ appropriate use of power and influence.Identify traits and characteristics of successful leaders.Identify behaviors of successful leaders9.2 Action Required:Leadership is a key part of being a successful manager. It involves setting a clear direction and vision for an organization that others will be prepared to follow. Employees will want to follow a good leader and will respond positively to them. A poor leader will fail to win over staff and will have problems communicating with and organizing workers effectively9.3 Test your Knowledge (Question):Discuss why one manager may need to adopt different styles of management in different circumstances.