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Student's Book Form Five
sure that the management team of trust, collaboration, continuous learning,
operates in line with shareholders’ and recognition by providing incentives
interests in ensuring corporate based on the performance of individuals or
objectives are met. They establish groups of people. By so doing, management
the organisational culture, ethics, can enhance workers’ engagement and
integrity and foster conducive productivity, eventually driving revenue
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environments for sustainable growth and profitability of the company.
growth. By setting clear policies
and objectives, the board of directors Winding up of a company
provide a framework for effective A company as an artificial person can die
strategy execution. They monitor just like a natural person. Winding up
the company’s affairs and ensure of a company means closing down the
compliance with legal and regulatory business. That is, the life of the company
requirements while mitigating risks. comes to an end or ceases to operate. As
Regular board of directors’ meetings the birth of the company was enabled by
serve as platforms for reviewing law, the death will as well be affected by
performance, assessing risks, and the law. Therefore, legal procedures must
charting the courses of actions for be followed during the winding up of a
the future of the company. During company. Examples of circumstances
board meetings, directors engage in under which the company may be wound
strategic discussions to scrutinize up include conflicts between shareholders,
reports, evaluate trends, and approve poor management of the company, and
major initiatives. By engaging in company becoming bankrupt.
strategic discussions and decision-
making processes, they ensure that Activity 2.2
the company remains co-operative
and responsive to the changing With the help of reliable sources:
market conditions. (a) Identify the companies that existed
in Tanzania and collapsed or ceased
(c) Workers: These are the employees at
all levels of the company. They play a to operate;
significant role in translating strategic (b) Explain the reasons for the collapse
objectives into tangible outcomes. of the companies identified in part
They are the key driving force behind (a); and
operational excellence, innovation, (c) Suppose you were the owner of
and customer satisfaction. those companies what would you
do to revive them?
Note: Effective management involves
empowering workers by fostering a culture
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