MGTA01H3 Chapter Notes - Chapter 6: Takeover, Cost Leadership, Swot Analysis
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MGTA01H3 Full Course Notes
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Goals: objectives that a business hopes and plans to achieve. Purposes of goal setting: goal setting provides direction, guidance, and motivation for all managers, goat setting helps firms allocate resources, goal setting helps to define corporate culture, goal setting helps manager assess performance. Kinds of goals: long-term goals: goals set for extended periods of time, typically five years or more into the future. Intermediate goals: goals set for a period of one to five years: short-term goals: goals set for the very near future, typically less than one year. An organization"s strategy of how it will achieve its purpose in the environment in which it conducts its business. Creation of a brand program for defining and meeting an organization"s goals. Strategic goals: long-term goals derived directly from a firm"s mission statement: analyze the organization and analyze the environment. Swot analysis: identification and analysis of organizational strengths and weaknesses.
