AFM131 Chapter Notes - Chapter 8: Swot Analysis, Pest Analysis, Brainstorming

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Resources general term that incorporates human resources, natural resources, and financial resources. Managers used to be bosses who tells people what to do, but today managers are more progressive. Future managers need to be more globally prepared adaptability, foreign language, ease in other cultures. Managers are necessary for communicating strategy, helping employees prioritize projects, facilitation cooperation, and ensuring that processes and systems are aligned with company goals. Managers give direction to their organizations, provide leadership and decide how to use organizational resources to accomplish goals. Management the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources. Planning management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives: have planning teams monitor the environment, find business opportunities, and watch for challenges. It"s the ke(cid:455) fu(cid:374)(cid:272)tio(cid:374) (cid:272)ause other management functions depend heavily on having a good plan.