MGTA01H3 Lecture Notes - Chief Executive Officer, Time Management
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MGTA01H3 Full Course Notes
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Management: is the process of planning, organizing, leading, and controlling an enterprise"s finanacial, physical, human and information resources to achieve the organization"s goals of supplying various products and service. For example: ceo of walt disney productions. Actors are not managers they play a role in the movie they do not follow the four functions of management. Planning has three main components: managers determine the firm"s goals, they develop a comprehensive strategy for achieving those goals, and they design tactical and operational plans for implementing the strategy. Planning process has five basic steps: goals are established for the organization. For example a commercial airline may set a goal to fill every seat with a passenger every flight: managers identify whether a gap exists between the company"s desire and actual position. For example a year-end financial analysis will reveal whether a company met its profitability objectives: managers develop plans to achieve the desired objectives.