Q1.How to delegate work effectively? Q.2The roles of the board of directors and the chief executive officer. Q.3 What it takes to be a successful entrepreneur? Q.4 Why cultural differences across countries influence management? Q.5 Why the world economy is becoming more integrated than ever before? Solution 1. DELEGATING WORK EFFECTIVELY: Delegation refers to the act of giving out responsibility and authority to the subordinates by the superiors. It is done so that the tasks can be carried out effectively and within proper time. However the ultimate authority lies on the shoulders of the superior. With delegation the subordinates are given out the authority to take the decisions on important issues. Delegating tasks is a talent/ skill which the manager should have so that things work out effectively after delegation. Some of the important points to keep in mind while delegating the work are as follows: 2. THE ROLES OF THE BOARD OF DIRECTORS AND THE CHIEF EXECUTIVE OFFICER (CEO) Main Roles of the Board of Directors (BOD): Main Roles of the Chief Executive Officer (CEO): 3. WHAT IT TAKES TO BE A SUCCESSFUL ENTREPRENEUR? An entrepreneur is an individual who starts up his own business individually by investing money, resources in the business idea. Risk factor is always involved whether the business will run effectively and if success will be achieved by the entrepreneur. Following are some points to be taken care of to become a successful entrepreneur: 4. WHY CULTURAL DIFFERENCES ACROSS COUNTRIES INFLUENCE MANAGEMENT? An organization has to deal with different countries in order to expand its business and widen the reach of its products. But different countries follow different set of cultures and the people have different values, beliefs, tastes and preferences for the products. This is known as cultural difference across countries. Management in an organization is a difficult task and the cultural differences influence the art of management because the managers cannot follow one unique way of managing as one method cannot be applied to different countries holding varied cultures. The people hold different set of preferences for the products and have different perspective to see management and in order to meet up the needs and preferences of people across countries it is important to follow different management styles to deal with different countries. 5. WHY THE WORLD ECONOMY IS BECOMING MORE INTEGRATED THAN EVER BEFORE? Globalization has already hit different markets and different economies around the world are making efforts to be more integrated as by doing this they can easily enjoy the benefits of globalization. It is also done so that the country’s economy is build strong and the resources are used effectively and efficiently. Due to integration of economies, one can easily get access to the abundance of information available across the globe. This is helping the economies to develop and enjoy the era known as the ‘age of information’. Wi.