BA 1100 Lecture Notes - Lecture 6: Chief Operating Officer

• School: Ohio University
• Department: Business Administration
• Course: BA 1100
• Professor: Tim Reynolds

Document Summary

Management: is a process designed to achieve an organization"s objects by using its resources effectively and efficiently in a changing environment. Efficiently means accomplishing the objectives with a minimum of resources. Managers make decisions about the use of the organization"s resources and are concerned with planning, organizing, staffing, directing, and controlling the organization"s activities to reach its objectives. Management functions: to harmonize the use of resources so that the business can develop, produce, and sell products, managers engage in a series of activities: planning, organizing, staffing, directing, and controlling. Planning is the process of determining the organizations objectives and deciding how to accomplish them. It is a crucial activity for it designs the map that lays the groundwork for the other functions. Mission/mission statement is a declaration of an organizations fundamental purpose and basic philosophy. It seeks to answer the question what business are we in? they are short and concise and explain the organizations reason for existence.