ADM 1300 Study Guide - Midterm Guide: Airbnb, Joint Venture, Nec

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Matthew Archibald

Document Summary

Organization: collaborative group of people working together to achieve a common purpose. Organization look for cheap inputs to produce outputs (sell at high values) Management: planning, organizing, leading, & controlling of resources to achieve goals effectively & efficiently. = managers must perform p. o. l. c (planning, organizing, leading, & controlling: planning: used to select goals & a course of action. 5 steps: establish goals, any gap (btw/ what i want to achieve & what i actually achieve)?, Example of plan: give out sample products: organizing: assigning tasks, allocating resources, & coordinating work activities. Creates organizational structure --- a formal system of relationships (ex. functional (accounting, finance, marketing, etc. ) vs. geographic (regions like western (vancouver), eastern (toronto): leading: articulate vision/strategy of org. Must use: power, persuasion, communication, & motivation. Result = employees work in harmony & perform at a high level = more successful business: controlling: essential to evaluate how organization is doing in achieving goals.