MGM101H5 Chapter Notes - Chapter 1: Henry Mintzberg, Human Capital, Chief Operating Officer

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

Management; the art of getting things done through other people. Planning, organizing, controlling, and leading: planning and strategizing. Planning; formal process whereby managers choose goals, identify actions to attain those goals, allocate responsibility for implementing actions to specific individuals or units, measure success of actions by comparing actual results against goals, and revise plans. Used by senior managers to develop overall strategies for an organization. Strategy; action that mangers take to attain goals of organization. Planning is formalizing a strategy that has already been selected and putting it into effect. Organizing; process of deciding who within an organization will perform what tasks, where decisions will be made, who reports to whom, how different parts of organization will coordinate their activities to pursue a common goal. Typically involves dividing organization into subunits; r&d, production, marketing, sales, accounting. Is part of planning and strategizing: strategy is implemented through organization, controlling.