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10 Nov 2010
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Course
Chapter 6 & 7 .ppt / 01
Laurence, Hugh
MGTA03, Lec. 03
Managing the Business Enterprise
What Does a Manager Do?
o Business Strategy
o Program for
Defining goals for the business
Defining a way of meeting the goals
o Creating and implementing a strategy is one of the key activities of business
managers
o Goals of the Business
o Step back from day ± to ± day operations
o Ask
Where should this business be at some time in the future?
x Short term goals ± 1 year or less
x Medium term goals ± 1 to 5 years
x Long term goals ± 5 years or more
o The longer the term, the more senior the manager developing the strategy
o Provide a benchmark against which to assess performance
o Help managers decide how to allocate resources
o Provide a focus for the efforts of all employees
o Goals will become part of the corporate culture
o Strategies
o Where do I want to be at the end of the period I am considering?
o Where am I now?
o How do I get to where I want to be?
o Developing a strategy
Assessing how the goal applies in a particular context
x What is the specific goal
x What is the larger context or environment, and how does it offer
opportunities and challenges
x What assets does the business have in this environment
x What are the challenges of the business in this environment
What is the plan for reaching the specific goal?
o Mission statement
A general goal that applies to all specific strategies
Everything we do is aimed at realizing the mission statement
o Levels of strategy ± specific goals
High or strategic level
Middle or tactical level
Low or operational level
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Document Summary

What does a manager do: business strategy, program for. S defining a way of meeting the goals: creating and implementing a strategy is one of the key activities of business managers, goals of the business, step back from day  to  day operations, ask. N short term goals  1 year or less. N medium term goals  1 to 5 years. S assessing how the goal applies in a particular context. N what is the larger context or environment, and how does it offer opportunities and challenges. N what assets does the business have in this environment. N what are the challenges of the business in this environment. S what is the plan for reaching the specific goal: mission statement. S a general goal that applies to all specific strategies. S everything we do is aimed at realizing the mission statement: levels of strategy  specific goals.

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