COMMERCE 1E03 Chapter 12: Chapter 12 – Management and Leadership.docx

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Resources: a general term that incorporates human resources, natural resources, and financial resources. Successful management will demand a new kind of person: a skilled communicator and team player as well as a planner, coordinator, organizer and supervisor. Management: the process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources. Planning: a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives. Planning teams: help monitor the environment, find business opportunities and watch for challenges. Organizing: a management function that includes designing the structure of that organization and creating conditions and systems in which everyone and everything work together to achieve the organization"s goals and objectives. Leading: creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization"s goals and objectives. Generally occurs in smaller firms leading occurs in bigger firms.

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