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CA (168,350)
UTSC (19,304)
MGT (1,095)
MGTA01H3 (583)
Chapter 7

chapter 7 notes

3 Pages
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Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

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CHAPTER 7 MANAGERS AND MANAGING
management: The process of planning, organizing, leading and controlling a business
financial, physical, human, and information resources in order to achieve goals.
PLANNING
planning: That portion of a managers job concerned with determining what the business
needs to do and the best way to achieve it.
1. Establish goals for the organization
2. Identify whether a gap exists between company’s desire & actual position
3. Develop plans to achieve goals
4. Implement plans
5. Assess the effectiveness of plans
ORGANIZING
organizing: The portion of a managers job concerned with mobilizing the necessary
resources to complete a particular task
LEADING
leading: portion of a managers job concerned with guiding and motivating employees to
meet firms objectives.
CONTROLLING
controlling: The 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: Those managers responsible for a firms 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.
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Description
CHAPTER 7 MANAGERS AND MANAGING management: The process of planning, organizing, leading and controlling a business financial, physical, human, and information resources in order to achieve goals. PLANNING planning: That portion of a managers job concerned with determining what the business needs to do and the best way to achieve it. 1. Establish goals for the organization 2. Identify whether a gap exists between companys desire & actual position 3. Develop plans to achieve goals 4. Implement plans 5. Assess the effectiveness of plans ORGANIZING organizing: The portion of a managers job concerned with mobilizing the necessary resources to co
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