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MGTA01H3 (583)
H Laurence (25)
Chapter 7

Chapter 7 Study Guide

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University of Toronto Scarborough
Management (MGT)
H Laurence

Chapter 7: Managers and Managing Management: is the process of planning, organizing, leading, and controlling a businesss financial, physical, human, and information resources in order to achieve its goals. Planning: that portion of a managers jobs concerned with determining what the business needs to do and the best way to achieve it. Organizing: that portion of a managers job concerned with mobilizing the necessary resources to complete a particular task. Leading: that portion of a managers 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. Levels of Management: Senior Managers: Those managers responsible for a firms overall performance and effectiveness and for developing long-range plans for the company. 1 www.notesolution.com
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