MGM101H5 Study Guide - Final Guide: Chief Executive Officer, Hierarchical Organization, Operations Management
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
Management- the art of getting things done through people. planning: a formal process whereby managers choose. Strategy: an action that managers take to attain the goals of an organization. Strategizing: the process of thinking through on a continual basis what strategies an organization should pursue to attain its goals. Developing employees: the task of hiring, training, mentoring, and rewarding employees in an organization, including other managers. Leading and developing employees are in many ways the core connection among planning and strategizing, organizing, controlling, and creating incentives. The organization may become bureaucratic; control may be lost; employees will lack incentives and motivation; and the organization may suffer insufficient human capital. Incentives a factor, monetary or nonmonetary, that motivates individuals to pursue a particular course of action. The knowledge, skills, and capabilities embedded in individuals. Managers are found at multiple levels in an organization. They may lead an entire organization, or they may head functions, departments, or units.
