FM 116 Lecture Notes - Lecture 9: Swot Analysis, Strategic Planning, Middle Management

• School: FIT
• Department: Fashion Business Management
• Course: FM 116
• Professor: George Sanchez

Document Summary

Planning: strategic planning: establishes a vision for the company by: Determining broad action steps (how to meet the objectives) Strategies: action plans that help the organization achieve its goals by forging the best fit between the firm and the environment: implementing strategies, evaluating results and incorporating lessons learned, defining the mission of the organization: Mission: organization"s purpose, values, and core goals providing the framework for all other plans. Organizing: creating logical structure in a firm: organization chart: a visual representation of a firm"s structure that illustrates job positions and functions, *staff is usually specialists. High level of competence in managers and workers. High level of interaction required between manager and workers. Additional factors that influence an organization: corporate culture. The inner rites, rituals, heroes, and values of a firm that are believed to have a strong influence on a firm"s performance over time. Indicators of corporate culture: the physical setting (e. g. , building and office layout).