MGM101H5 Study Guide - Final Guide: Transact, Contingency Theory, Operations Management
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
Management: art of getting things done through people. Planning: formal process whereby managers choose goals, identify actions, allocate responsibility for implementing actions, measuring success of actions, and revising plans. Strategizing: process of thinking through on a continual basis what strategies an organization should pursue to attain its goals. Controlling: process of monitoring performance against goals, intervening when goals are not met, and taking corrective action. Leading: process of motivating, influencing, and directing others in organization to work productively in pursuit of organization goals. Developing: task of hiring, training, mentoring, and rewarding employees in organization, including other managers. Give organizations a sense of purpose and direction. Create new ways of producing and distributing goods and services. Change how the world works through their actions. General managers: responsible for overall performance of an organization or one of its major self-contained subunits or divisions. Functional managers: responsible for leading a particular function or subunit within function.
