MGM101H5 Lecture Notes - Lecture 1: Lemonade Stand, Lemonade, Target Market
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MGM101H5 Full Course Notes
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Management (cid:862)ma(cid:374)agers are respo(cid:374)si(cid:271)le for making decisions under conditions of uncertainty about the allocation of scarce resources to(cid:449)ards a(cid:272)hie(cid:448)i(cid:374)g the orga(cid:374)izatio(cid:374)"s strategic objectives(cid:863) Why are (cid:373)a(cid:374)agers" roles evolvi(cid:374)g: global competition, business scandals, constant change, better educated workers, downsizing. Ceo is not responsible for the operations of the company but to provide the vision, leadership and strategy for the company. The gap (cid:271)et(cid:449)ee(cid:374) the (cid:862)ri(cid:272)h(cid:863) a(cid:374)d the (cid:862)poor(cid:863) is i(cid:374)(cid:272)reasi(cid:374)g. Introduction to management functions & evolution of management theory (lecture notes) A successful manager will have all three skills: conceptual, technical and human. Frontline more human skills, technical and conceptual needs to be highly demonstrated in higher positions. Depending on which stakeholder there will be a different opinion of the specific issue. Decision making is complex as there are needs of different groups and need to make the most balance decision as possible. Classical includes: scientific (rational) , administrative and bureaucratic. Rational approach to look at managers and functions.
