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Management notes.doc

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Department
Administration
Course
ADM1300
Professor
All Professors
Semester
Spring

Description
Management notesSetting goals and Formulating StrategyStarting point in effective management is setting goals objectives to achievesPurpose of Goal SettingIt provides direction guidance and motivation for all managers They know what they are working for and what is coming aheadEg Starbucks has a goal to increase capital spending by 15 percent with all additional expenditures focused to opening new storesTherefore everyone at Starbucks is aware of what the company is working forThe Company knows where to allocate its resourcesStarbucks emphasizes their resources into store expansion while ecommerce initiatives are given lower priorityDefine Corporate Culture Ie GEs goal of being 1 or 2 given this competitive and winning environment to its workersGoal Setting helps managers asses performance If a sale of increase by 10 is the goal then it can be compared to what is achieved at the end of the year
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