MGTA01H3 Chapter 7: Chapter 7 Study Guide
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Management: is the process of planning, organizing, leading, and controlling a business"s financial, physical, human, and information resources in order to achieve its goals. Planning: that portion of a manager"s jobs concerned with determining what the business needs to do and the best way to achieve it. Organizing: that portion of a manager"s job concerned with mobilizing the necessary resources to complete a particular task. Leading: that portion of a manager"s job concerned with guiding and motivating employees to meet the firm"s objectives. Controlling: that portion of a manager"s job concerned with monitoring the firm"s performance and, if necessary, acting to bring it in line with the firm"s goals. Senior managers: those managers responsible for a firm"s overall performance and effectiveness and for developing long-range plans for the company. Middle managers: those managers responsible for implementing the decisions made by top managers. First-line managers: those managers responsible for supervising the work of employees.
