MGM101H5 Final: Management Exam Notes
25
MGM101H5 Full Course Notes
Verified Note
25 documents
Document Summary
Chapter 1 management: management can be de ned as the art of getting things done through people in organizations. Managers give organizations a sense of purpose and direction: planning and strategizing! Planning is a formal process whereby managers choose goals, identify actions to attain. Planning is used by senior managers to develop overall strategies for an organization. A strategy is an action that managers take to attain the goals of an organization. Strategizing is the process of thinking through on a continual basis what strategies an organization should pursue to attain its goals. Strategizing involves being aware of and analyzing what competitors are doing: organizing! Organizing typically involves dividing the enterprise into subunits based on functional tasks: controlling! Controlling is the process of monitoring performance against goals, intervening when goals. Drafting plans is the rst step in controlling an organization.
