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Lecture

Management chapter 6.docx

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Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Fall

Description
Chapter 6 Management Business Strategy - Businesses are formed for a purpose - When being in a sole proprietorship business, it’s clear what the goal and purpose is and where it’s going and its limits - But when it gets into a wider business, there’s different viewpoints, and priorities which allows for an unclear goal - When businesses expands into a corporation, It becomes even more complicated, because the viewpoints and different ideas get passed down like a chain - In order to manage a large organization somebody has to see the big picture - Sometimes it’s hard to see what the purpose is - Sometimes it’s hard to see how to accomplish that purpose Strategic management - What the bosses do, general management - Strategy – what the leaders do - Someone has to see the big picture ex. Churchill - Strategic managers are at the top - People who are at the top of an organization - Their job is to communicate to everybody else - Tell them where we’re going or what we’re doing - Where we fit in - How to manage a business starts when managers can articulate very closely or believably make it known that they know what they’re
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