MGM101H5 Chapter : nickels ch 8
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MGM101H5 Full Course Notes
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Lecture 2: management & leadership - nickels ch 8. Resources human resources, natural resources and financial resources. Allocating resources, assigning tasks and establishing procedures for accomplishing goals. Preparing a structure (org chart) showing lines of authority, responsibility. Placing employees where they will be most effective. Guiding and motivating employees to work effectively to accomplish org goals and objectives. Vision explanation of why org exists and where its trying to head. Values fundamental beliefs that guide a business in the decisions they make. Vision informs values, while values come alive through vision. Mission statement outline of fundamental purposes of org. Goals broad, long-term accomplishments an org wishes to attain. Objectives specific, short term statements detailing how to achieve the orgs goals. Swot analysis a planning tool used to analyze an orgs strengths, weaknesses, opportunities and. New govt policies (incentives for r&d, lower taxes, industry deregulation) Increases in market demand (due to changing buyer needs and tastes, growing incomes)