MGM101H5 Lecture 1: MGM101 Lecture1 in class notes
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MGM101H5 Full Course Notes
Verified Note
25 documents
Document Summary
Managers are responsible for making decisions under conditions of uncertainty about the allocation of scarce resources towards achieving the organization"s strategic objectives. If you can"t make decisions or not comfortable about sharing your opinions, you can"t be an effective manager. There are no good decisions, we try making the best decisions at the time. Management is flexible, responsive to the decisions at the time (situational, according to situation), fluid. It is about understanding the time and situation and making the best decision for the time. You won"t sometimes find the result of your decision sometimes within a couple years, so a good decision today can be a bad one tomorrow. Making the most effective decisions during the time. As a manager if you only have one way of doing things, you will do good for a bit but will fail, be versatile, have to change under different circumstances. We have a much more educated work base and customers.
