MGTA01H3 Chapter 6: Chapter 6.doc
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MGTA01H3 Full Course Notes
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Starting point of an effective manager is setting goals. Will be rewarded if they reach the goal, Allocates more resources to new projects with large sales potential. Kinds of goals and get rid of ppl the fail. Each enterprise has a purpose a reason for being: mission statement: a statement of how it will achieve its purpose, mission statement should also include some statement about company"s core value and its commitment to ethical behavior. Planning is setting goals, choosing tactics and establishing schedules. Strategy have wider scope, broad program that describes organizations intentions: business strategy outlines how it intends to meet goal, organizations responsiveness to new. Formulating strategy: strategy formation: set strategic goals, analyze the organization and the environment, and match challenges and new needs the organization and environment. Swot analysis: strategic goals: long term goals derived directly from the firms mission statements.