BUS 201 Chapter 6: BUS 201 - Ch. 6 notes

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Gordon Rein

Document Summary

Managers: the people who plan, organize, lead, and control operations of an organization. Management: the process of planning, organizing, leading and controlling a business"s nancial, physical, human, and information resources in order to achieve its goals: planning, organizing, leading and controlling aspects are all interrelated, management effectiveness vs. management ef ciency. Ef ciency achieving the greatest level of output with a given amount of input: doing things right. Effectiveness means achieving organizational goals that have been set: doing the right things. The process of determining the rm"s goals and developing a strategy for achieving those goals: 1. ) Managers identify whether a gap exists between the company"s desired and actual position: 3. ) Managers develop plans to achieve the desired objectives: 4. ) The plans that have been decided on are implemented: 5. ) Mobilizing the resources required to complete a particular task. (or directing) involves the interactions between managers and their subordinates as they both work to meet the rm"s objectives.