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AGEC 242 (6)

2012.10.05 - Lesson 4.docx

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McGill University
Agricultural Economics
AGEC 242
Brahm Canzer

Buy fb shares when 12 dollars - Entrepreneurship = eliminate unemployment for yourself. If hire people, lower unemployment even more - 95% business in Quebec have less than 50 employees - 40% of cost in business is employee salary. So want to save money, fire someone - Government gets money from Taxation or borrowing o Quebec government can’t borrow anymore. They’re either going to have raise taxes more - Government and macro affects business planning Strategic Planning - Management is a process: forever going on - Continuous, non-stop - Analyzing today, should I make changes? - Planning: o Strategic Planning: identified goals for organization. o Eg: expand sales by 50%. Tim Hortons wants to have as many stores in US as Canada - Organizing: o What are the steps, things you need to achieve goal o Have things you need o Should you merge, work alone? - Directing: o Motivation, guidance that you give to employees o Leadership: cheerleading - Controlling: o Comparison between where you are and where you wanted to be. o If complimentary,(reach or surpassed) that goal o Metric: sales, # of employees, % market shares  ways/methods to compare - Feedback to do more/adjust planning - PROJECTION o How much do you think customers will buy, what price? Tactical Planning: - More descriptive of how you’re going to achieve goal - Eg: want to get another 20 000 customers over the next year o Come out with facebook advertising campaign Operational Planning: - People who are actually doing the work Contingency Planning: - Probably some guideline as to the different scandals - Fundamental business errors Managers making decisions - Decision making is totally dependent on perception of problem Maslow - Came up wi
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