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RSM100Y1 (431)
Chapter 6

Chapter6

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Department
Rotman Commerce
Course
RSM100Y1
Professor
Michael Szlachta
Semester
Winter

Description
RSM100-Ch6: Strategy 6-1.The management process Management: the process of planning, organizing, leading and controlling an enterprises financial, physical, human, and information resources to achieve the organizations goals of supplying various products and services. Efficiency: achieving the greatest level of output with a given amount of input Effectiveness: achieving the organizational goals that have been set Management: 1. Planning: - determining the goals -developing a strategy for achieving them Steps---1.Goals are established for the organization 2.Identify gap 3.Develop plans (manager) 4.Implement plans 5.the effectiveness of the plan is assessed Which plan is useful? ---Prediction markets: creating a market where people can buy shares in various answers to important questions that need to be answered Hierarchy 1). Strategic plans: -top manager -reflect decisions about: resource allocation, company priorities and the steps needed to meet strategic goals www.notesolution.com
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