MGTA01H3 Chapter Notes - Chapter 7: Firstline, Operations Management
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MGTA01H3 Full Course Notes
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Document Summary
Management: process of planning, organizing, leading and controlling an enterprise"s financial, physical, human, and information resources to achieve the organization"s goals of supplying various products and services. Planning, organizing, leading, and organizing are interrelated and generally follow one another in a logical sequence. Sometimes performed simultaneously or in a diff sequence altogether. Determining what organization needs to do and how best to get it done requires planning. Planning: has 3 main components; portion of a manager"s job concerned with determining what the business needs to do and best way to achieve it. Planning begins when managers determine the firm"s goals. Next, develop a comprehensive strategy for achieving those goals. After, they design tactical and operational plans for implementing the strategy. Planning process has 5 basic steps: goals are established for the organization, managers identify whether a gap exists b/w the company"s desire and actual position, managers develop plans to achieve the desired objectives.
