SMO310 Lecture 1: Chapter 1 - Introduction to Principals of Management

• School: University of Alberta
• Department: Strategic Management and Organization
• Course: SMO310
• Professor: Richard Field

Document Summary

**know the difference between line and staff managers. Management: the art of getting things done through the efforts of other people. Supervisory managers (team managers: responsible for coordinating a subgroup with a particular function or a team composed of members from different parts of the organization. Line managers (product or service managers: responsible for leading a team that contributes directly to the products or services the organization creates, leads a group that creates indirect inputs. Entrepreneurship: recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures. Strategy: the central, integrated, externally-oriented concept of how an organization will achieve its objectives. Strategic management: the body of knowledge that answers questions about the development and implementation of good strategies. Entrepreneurs are leaders who convert ideas into action. There will be a question on the test that is answered somewhere there. Chapter 1 introduction to principals of management.