MGM101H5 Study Guide - Standard Operating Procedure, Hierarchical Organization, Total Quality Management
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MGM101H5 Full Course Notes
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Document Summary
Planning is a formal process for generating the strategies of an organization, strategies can also arise in the absence of planning. Strategy: an action that managers take to attain the goals of an organization. Strategizing: the process of thinking through on a continual basis what strategies an organization should pursue to attain its goals. Strategizing means being aware of what competitors are doing, external changes, and choosing course action. Organizing: the process of deciding who within an organization will perform what tasks, where decisions will be made, who reports to whom and how different parts of the organization will coordinate their activities to pursue a common goal. In a business, organizing typically involves dividing the enterprise into subunits based on functional tasks such as procurrent, r&d, production, marketing, sales, customer service, human resources, accounting and finance. Organizing is part of planning and strategizing.
