RSM100Y1 Chapter Notes - Chapter 6: Cost Leadership, Vertical Integration, Crisis Management
Document Summary
Shared experiences, values, norms and ethical stance that characterize an organization. Plan, organize, direct, and control day to day operations. The process of planning, organizing, leading and controlling an enterprises financial, physical, human and information resources to achieve the organizations goals of supplying various product and services: these are all interrelated. Important to notice the difference between management effectiveness and management efficiency: efficiency means achieving the greatest level of output with a given amount of input, effectiveness means achieving the organizational goals that have been set. The four functions/steps are: planning, organizing, leading, controlling: planning. Process of determining the firms goals and developing a strategy for achieving them. Mobilizing the resources that are required to complete a particular task: leading (or directing) Involves the interactions between managers and their subordinates as they both work to meet the firms objectives. Attempt to guide and motivate people (leadership: controlling.
