AFM131 Chapter Notes - Chapter 8: Fortune 500, Haymarket Media Group, Key Management

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

Document Summary

Objectives: describe the changes occurring today in the management function. Resources: a general term that incorporates human resources, natural resources, and financial resources. Previously, management was all about supervising employees and directing them. Today, management is about team work and progression. Managers tend to guide, train, support, motivate, and coach employees. Realized that employees are more likely to know more than managers. Managers are there for communicating strategy, helping employees prioritize projects, facilitating cooperation, and ensuring that processes and systems aligned with company goals. Those entering management today are different than those in the past. Younger, more females, and fewer educated at elite university (fortune 100 companies) They"re more likely to be working in teams and assuming completely new roles in the firm. More team work; more work completed in teams. More transparency; valuing csr: describe the four functions of management. Includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.