ADM 2304 Lecture Notes - Lecture 1: Canada Goose, Value Proposition, Business Process
13 May 2017
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Managers major activities: planning, directing and motivating, controlling, decision making: planing: (e. g, estimating advertising revenue or total expenses, scheduling) > involves managing day- to-day (routine) activities to keep the organization running smoothly. > employee work assignments, routine problem solving, con ict resolution, effective communications: controlling: (e. g, comparison of projections, comparing budgeted costs to actual costs) > ensures that plans are being followed, feedback, notify plan if needed. > involves feedback through (monthly) performance reports that compare actual results with the budget: decision making: (e. g, who to hire, what shows to broadcast) Strategy = a game plan that enables a company to attract customers by distinguishing itself from competitors (the focal point of a company"s strategy should be its target customers) Aspe . while managerial doesn"t have to follows these rules, Nancial needs nancial statements and statements for external users but managerial doesn"t need them, nancial looks on companywide reports while managerial focuses on segments.
