AFM131 Chapter Notes - Chapter 8: Corporate Social Responsibility, Strategic Planning, Swot Analysis

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

Document Summary

Managers must practice art of getting things done through organizational resources. Resources incorporates human resources, natural resources, financial resources. Management is about how to effectively use scare resources. Managers today are more progressive: teams and team building, create-drop in centres, team spaces, open work areas, guide, train, support, motivate, coach, emphasize teamwork and cooperation, ope(cid:374) (cid:271)ooks to sha(cid:396)e (cid:272)o(cid:373)pa(cid:374)(cid:455)"s fi(cid:374)a(cid:374)(cid:272)ials. Managers are necessary for communicating strategy, helping prioritize projects, facilitating cooperation, ensuring processes and systems align with company goals. Future managers are more likely to work in teams: more expansions overseas, adapting to climate change. Transparency in how managers do their job and how they address corporate social responsibility will become increasingly important. Managers give direction, provide leadership, decide how to use resources, deal with conflict resolution, create trust, create balance between work and family lives. Management is process used to accomplish organizational goals through planning, organizing, leading, and controlling people and resources.