MGT223H5 Chapter Notes - Chapter 01: Value Proposition, Financial Statement, Disclose
Document Summary
Managers who plan for financial decisions and control the organization. Detailed segment reports whole organization of an organization. Work of management: planning, directing and motivating, controlling. Planning and control cycle: formulated long-and short-term plans (planning, implementing plans (directing and motivating, measuring performance (controlling, comparing actual to planned performance (controlling) Strategy: a game plan that enables a company to attract customers by distinguishing itself from competitors. Customer value propositions: customer intimacy strategy: understand and respond to individual customer needs, operational excellence strategy: deliver products and services faster, more conveniently, and at lower prices, product leadership strategy: offer higher quality products. Cfo(chief financial officer): a member of the top management team responsible for (1) providing timely and relevant data to support planning and control activities and (2) preparing financial statements for external users. 3 types of professional accountants in canada: cga, ca, cma. Recognize and communicate professional limitations that preclude responsible judgment. Provide accurate, clear, concise, and timely decision support information.
