MGMT 1 Lecture Notes - Lecture 8: Chief Operating Officer, Chief Financial Officer, Situation Two
Document Summary
Management- the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources. Much more team-oriented and more like a coach than a boss. Need to have a diverse set of skills and be flexible to adapt to a particular situation. Setting a direction for the future on various levels of detail/generality. A vision broadly defines the purpose of a business. A mission statement describes this purpose in more detail: How the business views issues like ethics and social responsibility. Objectives: more short term and more specific milestones. Swot analysis: analyzes the organization"s strengths, weaknesses, opportunities, and threats. Setting of broad, long range goals by top managers. Identification of specific, short range objectives by lower level managers. Organizational chart- a visual device that shows relationships among people and divides the organizations work: it shows who reports to whom.
