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mgta01 ch6.pdf

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Genevieve Dewar

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Ch 6 Managing The Business Enterprise Organizational goal setting involves deciding what it intends to do what actions will be taken and formulating a strategy that underlies those decisionsPurpose of goal setting1 provides direction guidance andmotivation for managersst2 helps allocate resources areas with growth potential are 1 priority3 define corporate culture and4 assess performance meeting or missing goals Types of Goalso Longterm goals 5 years top managerso Intermediate goals 15 years middle management o Shortterm goals 1 year firstline managersPlanning and Business StrategyStrategy formulation creating an overall practice for definingrealizing goals Include Strategic goals longterm goals derived from mission statementMission statementhow organization will achieve its purpose in its environmento Includes core values and ethical behaviorsSWOT Analysis assessing organizational Strengths and Weaknesses internalandenvironmental Opportunities and Threats external a Environmental analysis scans for environmental
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