[ADM2341] - Midterm Exam Guide - Ultimate 28 pages long Study Guide!

• School: University of Ottawa
• Department: Administration
• Course: ADM 2341
• Professor: Tiemei L I

Document Summary

Every organization has managers who perform several major activities such as: Identify alternatives a: select alternative that does the best job of furthering organization"s objectives, develop budgets to guide progress toward the selected alternative, directing and motivating. Directing and motivating involves managing day-to-day activities to keep the organization running smoothly. The control function ensures that plans are being followed. Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function: decision making. The most basic managerial skill is the ability to make intelligent, data driven decisions. A strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company"s strategy should be its target customers. Deliver products and services faster, more conveniently, and at lower prices. Decentralization is the delegation of decision-making authority throughout an organization.