Textbook Notes (363,007)
Canada (158,140)
MGTA01H3 (583)
Chapter 7

Chapter 7 Notes

2 Pages
Unlock Document

University of Toronto Scarborough
Management (MGT)
Chris Bovaird

Chapter 7 Managers and Managing Notes The Management Process N management : the process of planning, organizing, leading, and controlling a businesss financial, physical, human, and information resources in order to achieve its goals N the planning, organizing, leading, and controlling aspects of a managers job are interrelated N while these activities generally follow one another in a logical sequence, sometimes they are performed simultaneously or in a different sequence altogether Planning N planning : that portion of managers job concerned with determining what business needs to do and best way to achieve it N in step 1, goals are established for the organization N in step 2, managers identify whether a gap exists between the companys desire and actual position N in step 3, managers develop plans to achieve the desired objectives, which indicate what results are desired, while plans indicate how these objectives are to be achieved N in step 4, the plans that have been decided upon are implemented; this is where thinking is converted into action N in step 5, the effectiveness of the plan is assessed; requires comparing actual results with planned performance Organizing N organizing : that portion of managers job concerned with mobilizing necessary resources to complete particular task Leading N leading : that portion of a managers job concerned with guiding and motivating employees to meet the firms objectives N leaders attempt to guide and motivate employees to work in the best interests of the organization Controlling N controlling : that portion of a managers job concerned with monitoring the firms performance and, if necessary, acting to bring it in line with the firms goals Types of Managers Levels of Management Senior Managers N senior managers : those managers responsible for a firms overall performance and effectiveness and for developing long-range plans for the company; common titles include president, vice-president, treasurer, chief executive officer, chief financial officer N senior managers set general policies, formulate strategies, oversee all significant decisions, and represent the
More Less

Related notes for MGTA01H3

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.