BUS 201 Chapter Notes - Chapter 6: Firstline, Blook, Change Management
30 Oct 2016
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Document Summary
Managers are people who plan, organize, lead and control the operations of an organization. Lo-1 describe the four activities that constitute the management process. Management is the process of planning, organizing, leading, and controlling an enterprise"s financial, physical, human and information resources to achieve the organization"s goals. Efficiency: achieving the greatest level of output with a given amount of input (doing things right) Effectiveness: achieving organizational goals that have been set (doing the right thing) Planning is the process of determining the firm"s goals and developing a strategy for achieving those goals. Organizing involves mobilizing the resources required to complete a particular task. Leading (or directing) involves the interactions between managers and their subordinates as they both work to meet the firm"s objectives. Controlling is the process of monitoring a firm"s performance to make sure that it"s meeting its goals.
