GMS 200 Lecture Notes - Lecture 6: Cash Flow, Specific Performance, Middle Management

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

: is the process of setting objectives and determining how to accomplish them. Importance of planning: creates a solid platform for the other management functions. Organizing allocating and arranging resources to accomplish tasks. Leading guiding the efforts of human resources to ensure high levels of task accomplishment. Controlling monitoring task accomplishments and taking necessary corrective action. : are specific results that one wishes to achieve (not vague, should be: a plan. : is a statement of action steps to be taken in order to accomplish the objectives: involves five steps: Identify desired outcomes or results in very specific ways. Evaluate current accomplishments relative to the desired results (compare our position with your objective) Take action and carefully measure your progress toward objectives: good planning helps make us: Priority-oriented: making sure the most important things get first attention. Action-oriented: keeping a results-driven sense of direction. Advantage-oriented: ensuring that all resources are used to best advantage.