ADM 2341 Lecture Notes - Lecture 1: Professional Ethics, Corporate Social Responsibility, Management Accounting

• School: University of Ottawa
• Department: Administration
• Course: ADM 2341
• Professor: Bergquist Bob

Document Summary

Managerial accouning is concerned with providing informaion to managers-that is, people inside an organizaion who direct and control its operaions. Financial accouning is concerned with providing informaion to shareholders, creditors, and others who are outside an organizaions. Managerial accouning provides data that help organizaion run more eiciently. Planning: involves selecing a course of acion and specifying how that acion will be implemented. Direcing and moivaing: involve mobilizing people to carry out plans and run rouine operaions, employee work assignments, rouine problem solving, conlicted resoluion, efecive communicaions. Strategy: a game plan that enables a company to atract customers by disinguishing itself from compeitors. Customer inimacy: understand and respond to individual customer needs. Operaional excellence strategy: deliver products and services faster, more conveniently, and at lower prices. Product leadership strategy: ofer higher quality products. The planning and control cycle illustrates the smooth low of management aciviies from planning through direcing and moivaing, controlling, and then back to planning again.