Textbook Notes (363,550)
Canada (158,417)
MGTA01H3 (583)
Chapter 7

Chapter 7 notes (What I used to study for final)

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

CHAPTER 7 Management: the process of planning, organizing, leading, and controlling a businesss financial, physical, human and information resources in order to achieve its goals Planning: the portion of a managers job concerned with determining what the business needs to do and the best way to achieve it Step1 goals are established for the organization Step2 managers identify whether a gap exists between the companys desire and actual position Step3 managers develop plans to achieve the desired objectives Step4 the plans that have been decided upon are implemented Step5 effectiveness of plan is assessed Organizing: that portion of a managers job concerned with mobilizing the necessary resources to complete a particular task Leading: that portion of a mangers job concerned with guiding and motivating employees to meet the firms objectives 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 Senior Managers: those managers responsible for a firms overall performance and effectiveness and for developing long-range plans for the company - p
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