COM 100 Lecture Notes - Lecture 15: Decision-Making, Comparative Advantage, Takers

• School: University of Victoria
• Department: Commerce
• Course: COM 100
• Professor: Saeed Rahman

Document Summary

Planning: decision making, purpose of the firm. Come up with ideas, managers convert ideas into a solid business. Technical skills: include the abilities and knowledge that enable an employee to carry out the specific tasks required of a job. Interpersonal skills: enable a manager to interact with other people to motivate them: team management skills. Conceptual skills: enable a manager to think abstractly to visualize the organisation and the relationships between the parts and to understand the business"s relationship to the rest of the business community. Time management skills: enable a manager to achieve the maximum amount of productivity in a set amount of time. Greater productivity: manager makes sure to reach targets, push team members to meet the deadline: problem: decline in sales for walmart, alternative solution, evaluate solution. Declining sales: entice customers, market research, hr problem. Organizing: allocating resources, creating organizational structure, recruiting and placing employees. Controlling: measuring results against goals, monitoring performance, rewarding.