MGTA01H3 Chapter Notes -Goal Setting, Hawthorne Effect, Swot Analysis
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Operational plans: set short-term targets for daily, weekly, or monthly performance (middle- and lower level managers) Levels of strategies: corporate-level strategy: identifies the various businesses that a company will be in, and how these businesses will relate to each other. Concentration strategy: focusing the company on one product or product line: examples: mcdonalds, advantage: company can focus on its strengths, disadvantage: risk of having all the eggs in one basket . Diversification: expanding into related or unrelated products/markets: related diversification vs. conglomerate diversification. Cost leadership: becoming the low cost leader in an industry. Differentiation: a firm seeks to be unique in its industry. Management: the process of planning, organizing, leading and controlling a businesss financial, physical, human and information resources in order to achieve its goals. Planning: developing what the business needs to do and the best way to achieve it.
