ADM 1100 Lecture Notes - Lecture 1: Nearshoring, Offshoring, Industrial Revolution

• School: University of Ottawa
• Department: Administration
• Course: ADM 1100
• Professor: Patrick Woodcock

Document Summary

Managing the people that come to you. Critical thinking (analyze something & very quickly decide if its the wrong or right thing to do) should go into) Vision (being able to look into the future & to see which direction the company. Creativity (being able to create a new product, type of organization, be different, you want to stand out, also becoming effective, efficient) leadership (involves emotional intelligence, involves organizing people, What is a business? services for clients: business: all profit seeking activities and enterprises that provide goods and, profits: financial rewards for business people (usually owners) who take the risks involved to offer goods and services to customers. What makes a company admired? worker satisfaction: profitability, growth, new product, development, ethics, social responsibility, Factors of production -> production process = products/services. The private enterprise system is an economic system that rewards firms for their ability to identify & serve the needs & demands of customers.