MGTA02H3 Chapter Notes - Chapter 1: Henri Fayol, University Of Toronto Scarborough, Value Chain
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MGTA02H3 Full Course Notes
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University of toronto scarborough (utsc) date: january 9, 2018. Week 1 managing and mangers: working to accomplish a task. Terminology: mission: the reason why a business exists and the goals that it is trying to accomplish, managing: the process of planning, organizing, leading and controlling resources in order to accomplish a task, managers: The seven key business functions: marketing: the activities involved with interacting with customers and potential customers, operations: the activities involved with transforming factors of production into the goods or services that customers want. Value chain: the system of activities, which a business must manage in order to transfer factors of production into finished goods and services. They need to pay salaries and wages of employees. An essential part of any business is finance, this includes planning the business capital needs, locating sources of (cid:272)apital, (cid:374)egotiati(cid:374)g ter(cid:373)s a(cid:374)d (cid:272)o(cid:374)ditio(cid:374)s for it"s use a(cid:374)d (cid:373)a(cid:374)agi(cid:374)g the orga(cid:374)izatio(cid:374)"s relatio(cid:374)s (cid:449)ith the fi(cid:374)a(cid:374)(cid:272)ial i(cid:374)ter(cid:373)ediaries.
