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Exam Review Notes

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University of Ottawa

Exam ReviewADM 1100rChapter 9Manager as a Planner and StrategistObjectivesthe end states or targets that company managers aim forPlansthe means by which managers hope to hit the desired targetsPlanninga decisionmaking process that focuses on the future of an organization and how it will achieve its goalsOrganizational LevelsCorporate Leveloften involves the division of the a large company with senior executives at the corporate headquarters deciding which way the company should go when making important business decisions which will lead the firmBusiness Levelthis is level at which managers focus on how the business will compete effectively in the marketFunctional Levelmanagers focus on how they can facilitate the achievement of the competitive plan determined at business levelThe Planning Process1Analyze environment 2 Set objectiveseither 3 Determine requirements or Assess Resources4 Develop action plans5 Implement Plans6 Monitor Outcomes feedback and the entire process cycles Goal SettingIs a specific planning process for managing performance practical acronym SMARTSMARTspecific measurable agreed upon realistic timeSpecificgoals for firms units and subordinates must be specific cannot be too broad or else the objective will not be adequately pursued and the goal unreachedMeasurablethe next step to determining if it is specific enough is to see if you can measure it could you measure progress and improvement with an ultimate goal being reachedAgreed Uponeven if the goal is specific and measurable if people do not agree then it will not be met agreement is a substantial portion of ensuring the success if people agree to the goal then it can go aheadRealisticcan the goal be achieved Is it too easy or too difficult A realistic goal forces the firm to work cohesively to secure the achievement of the goal which is not too difficult or too easy and places adequate pressure on the firm to achieve its goalsTimegoals need a specific time span within which they are to be achieved if a goal is set for a long period certain criteria must be met at shorter time intervalsChapter 10Organizational StructureOrganizational Structurespecification of the jobs to be done within a business and how these jobs relate to one anotherTwo parts specialization determining who will do what departmentalizationdetermining how people performing certain tasks can be best grouped togetherSpecializationJob specializationprocess of identifying the specific jobs that need to be done and designating the people who will perform themA firm may have one owner who is responsible for all jobs as the firm grows it is important for the firm to bring in people who can specialize in certain tasks which will manage the workDepartmentalization1FunctionalThis is done according to functions and activitiesTypically seen by accounting human resources sales marketing2CustomerThis is done according to the types of customers likely to buy a given productHMV different departments within the store which target different consumers3ProductThis is done according to the products being sold or created
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