MGTA02H3 Study Guide - Midterm Guide: Direct Market, Contribution Margin, Human Resource Management

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MGTA02H3 Full Course Notes
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MGTA02H3 Full Course Notes
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Business: formed for a purpose, hard to see and how to accomplish that purpose. Leaders: determine the organizations purpose and direction, guide and inspire others to go along. Managers: people who plan, organize, lead and control resources in order to achieve the goal. Definition: planning, organizing, leading and controlling these events. A well- managed business must do all of these things efficiently and economically and comparatively well: not the arbitrary exercise of power involves getting things done. Definition: a series of connected parts or connected activities. The parts are organized for a common purpose and work together. Identify and research target market: develop product and set price, operations create products, promote and distribute products, measure and control. Definition: determining what needs to be done, and the best way to achieve it. Eg. (cid:499)get up, get dressed, have breakfast, be ready to get in the car by (cid:883)(cid:882)o"clock(cid:499: how: teaching and demonstrating leading by example.