RSM222H1 Lecture 1: Class 1
12 Feb 2017
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Document Summary
Formulating long- and short-term plans (planning) product, place, people. Implementing plans (directing and motivating) finding locations, signing leases, contacting suppliers. Measuring performance (controlling) feedback on sales, walk around on the floor, revenue cost. Comparing actual to planned performance (controlling) compare actual sales vs target or planned or benchmark to industries. Plan for product to sell, cost, how to sell, employees. Ideally, these are what companies aim for, but in reality, due to competition, companies only aim for 1 or 2 areas. Probably report to the cfo for management accounting. Controller person in charge of accounting department, daily operations. Staff positions support and assist line positions. Line positions directly related to achievement of basic objectives of an organization. Centralised most decisions are made on the top and relayed to the bottom. Decentralised decision-making process happens at all the different levels. Changing business environment process management: lean production vs traditional.
