COMMERCE 1E03 Chapter Notes - Chapter 12: Strategic Planning, Swot Analysis, Situation Two
11 Apr 2013
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Management: the process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources. Managers must practice the art of getting things done through organizational resources. Resources is a general term that incorporates. Managers are educated to guide, train, support, motivate and coach employees rather than tell them what to do. Vision sense of why firm exists, where it"s heading. Goals: broad, long-term accomplishments that a firm wishes to achieve: consistent with vision and mission statement, usually expressed in terms of measurable objectives. Objectives specific, short-term statements detailing how to achieve the organization"s goals. Plans the ordered sequences of strategies a firm uses to achieve each objective: plans always have a time element. A large part of creating measurable objective is to understand what you are good at and what you are not good at. An analysis of the organizations strengths, weaknesses, opportunities and threats. How can strengths be used and capitalized on.
