AFM131 Chapter Notes - Chapter 8: Swot Analysis, Time Management, Institute For Operations Research And The Management Sciences

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Mohsin Bashir

Document Summary

Management: the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources. Planning: a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives. Organizing: a management function that includes designing the structure of the organization and making conditions and systems in which everyone and everything works together to achieve the organization"s goals and objectives. Leading: making a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization"s goals and objectives. Controlling: a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not. Vision: an encompassing explanation of why the organization exists and where it is trying to head.