COMMERCE 1E03 Chapter Notes - Chapter 8: Strategic Planning, Situation Two, Problem Solving
28 Aug 2016
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Document Summary
Resources is a general term that incorporates human resource (employees), natural resources (raw materials) and financial resources (money) Include factors of production; every businesses has scarce resources and management is about deciding how to use these scarce resources. Management is changing of how it used to be, used to be all about being the boss and telling people what to do but now is more about becoming more progressive. Management is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resource. Planning includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives; key part of being a manager as other management functions depends on having a good plan. Organizing includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization"s goals and objectives.
