GEB 2011 Chapter Notes - Chapter 5: Goal Setting, Paperwork (T.I. Album), Relate
Document Summary
Setting goals is part of planning, setting up the organization is part of organizing, managing people is part of leading, monitoring performance is part of controlling. Each of these activities represents one of the four basic managerial function: Manager responsibilities include analyzing their competitive environments and planning, organizing, directing, and controlling day-to-day operations of their business. Management: itself is the process of planning, organizing, leading, and controlling an o(cid:396)ga(cid:374)izatio(cid:374)"s fi(cid:374)a(cid:374)(cid:272)ial, ph(cid:455)si(cid:272)al, hu(cid:373)a(cid:374), a(cid:374)d i(cid:374)fo(cid:396)(cid:373)atio(cid:374) (cid:396)esou(cid:396)(cid:272)es to a(cid:272)hie(cid:448)e its goals. Planning: has th(cid:396)ee (cid:373)ai(cid:374) (cid:272)o(cid:373)po(cid:374)e(cid:374)ts (dete(cid:396)(cid:373)i(cid:374)e the fi(cid:396)(cid:373)"s goals, de(cid:448)elop a (cid:272)o(cid:373)p(cid:396)ehe(cid:374)si(cid:448)e strategy for achieving those goals, design tactical and operational plans for implementing the strategy. Organizing: organization charts help everyone understand roles and reporting relationships. Leading: a manager works to guide and motivate employees to meet the fi(cid:396)(cid:373)"s o(cid:271)je(cid:272)ti(cid:448)es. Controlling: the p(cid:396)o(cid:272)ess of (cid:373)o(cid:374)ito(cid:396)i(cid:374)g a fi(cid:396)(cid:373)"s pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e to (cid:373)ake su(cid:396)e that it is (cid:373)eeti(cid:374)g its goals. All ceos must pay close attention to costs and performance.
