MGTA02H3 Lecture Notes - Lecture 1: Human Resource Management
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MGTA02H3 Full Course Notes
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What the people who work in the business must do. A business turns factors of production (inputs) into products that people demand (output) Anything that is not legal, is not a business. Mgta02 looks at what goes on within the "rainbow box" (the system) To succeed, every business must perform a number of functions: Textbook and lecture schedule follow a model called "the value chain" "value chain" model suggests businesses are systems that turn factors into goods and services that people demand. In order to make a profit, and succeed, a business must do all of these things. In order to make a profit, and succeed, a business must do all of these things quickly, efficiently, and well. For the business to succeed, each of these functions must be: Review: mission: business is formed for a purpose, sometimes hard to see, what the purpose is, how to accomplish that purpose, businesses need leadership.