COMMERCE 1E03 Chapter Notes - Chapter 12-14: Job Enrichment, Middle Management, Elton Mayo
16 Sep 2013
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Resources: incorporates human resources, natural resources, financial resources. Managers becoming more like coaches instead of bosses. Management: process used to accomplish organizational goals through planning, organizing, leading, controlling people and other organizational resources. Planning: anticipating trends, determining best strategies/tactics to achieve organizational goals, one objective is to please customers. Organizing: designing structure of organization, creating conditions and systems in which everyone can work together to achieve goals, everyone work together to please customer at a profit. Leading: creating vision for organization, guiding, training, coaching, motivation others to work to achieve goals. Controlling: measure results against corporate objectives, monitor performance relative to standards, reward outstanding performance, take corrective action when necessary. Vision: encompassing explanation of why organization exists and where it"s trying to head. Values: set of fundamental beliefs that guide business decisions, determines how employees should interact with stakeholders. Mission statement: outline of fundamental purposes of an organization.
