BUSI 1600U Chapter Notes - Chapter 8: Chief Financial Officer, Chief Executive Officer, Problem Solving
Document Summary
Chapter 8: leadership, organization, and production to satisfy customers. Managers must practise the art of getting things done through organizational resources. Resources general term that incorporates human resources (employees), natural resources(raw materials), and financial resources(money). Every business has scarce resources, and managements are about deciding how to effectively use these scarce resources. At one time, managers were called bosses and their job consisted of telling people what to do and watching over them to be sure they did it. They were more proficient and knew more than the employees they supervised. Managers now are more educated to guide, train, support, motivate and coach employees rather than tell them what to do. Managers realize that workers often know much more about technology than they do, so they emphasize teamwork and co-operation rather than discipline and giving orders. Traditional long-term contracts between management and employees and the accompanying trust are often no longer there.
