BUS 201 Lecture Notes - Tim Hortons, Decision Analysis, Bounded Rationality

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

Lo-1 describe the four activities that constitute the management process. Management: process of planning, organizing, leading, and controlling (polc) a business"s financial, physical, human + info. resources (phif) to achieve the organization"s goals (managerial functions) Process of accomplishing organizational goals through planning, execution, and control. Series of activities developed to allow businesses to achieve their goals. Interpersonal roles (3): figurehead, leader, liaison ("link to assist communication between people") Informational roles (3): monitor, disseminator ("propagator: someone who spreads news), spokesperson. Decisional roles (4): entrepreneur resource, disturbance handler, allocator, negotiator. Efficiency: achieving greatest level of output with given amount of input (doing things right) Effectiveness: achieving set organizational goals (doing the right things) (1) planning: determining and developing a strategy for achieving a firm"s goals. Step 2 - identify/measure gaps between desired and actual position. [analyze load data + find only 73% seats on avg. are filled] Step 3 - develop plans to close gaps.