[MGM101H5] - Final Exam Guide - Ultimate 31 pages long Study Guide!

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

What are the 4 functions of management? (as described by henri fayol: planning and strategizing, planning. Allocate responsibility for implementing actions to specific individuals or units. Measure success by comparing actual results to goals. Revise plans accordingly: strategy - an action that managers take to attain goals of an organization, strategizing. Thinking continually about what strategies an organization should implement to attain goals. Thinking about how changes in external environment impacts the organization ie. changes in technology or government regulations. Intervening when goals are not met: monitoring performance against goals. What are the 3 types of managers: general managers - responsible for overall performance of an organization or one of its major self-contained subunits or divisions, corporate-level general managers. Ceos lead the entire enterprise, formulate strategies and manage relationships with shareholders. Top level management may include cfo, coo, and cto: business-level general managers - lead their divisions ie general.