RSM219H1 Chapter Notes - Chapter 6: Goal Setting, Swot Analysis, Takeover
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RSM219H1 Full Course Notes
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Although our focus is on managers in business settings, remember that the principles of management apply to all kinds of organizations. Goals objectives that a business hopes and plans to achieve. The purposes of goal setting: we can identify for main purposes in organizational goal setting, goal setting provides direction, guidance, and motivation for all managers. If managers know precisely where the company is headed, there is less potential for error in the different units of the company: goal setting helps firms allocate resources. Areas that are expected to grow will get first priority. The company allocates more resources to new projects with large sales potential than it allocates to mature products with established but stagnant sales potential: goal setting helps to define corporate culture. General electric"s goal, for instance, is to push each of its divisions to number one or number two in its industry.
