BUSM200 Chapter Notes - Chapter 7-12: Strategic Planning, Human Resource Management, Operations Management
19 Jan 2019
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Define management : is the process of achieving organizational objectives through people and other resources. List and explain management hierarchy: top management. develop long-range strategic plans for the organization, middle management. Focus on specific operations, products, or customer groups within an organization. Responsible for developing detailed plans and procedures to implement the firm"s strategic plans: supervisory managemen implement the plans developed by middle managers. Strategic planning has formed the basis of many fundamental management decisions. Successful strategic planners typically follow the six steps: defining a mission, assessing the organization "s competitive position, setting organizational objectives, creating strategies for competitive differentiation, implementing the strategy, evaluating the results and refining the plan. Decision making is the process of recognizing a problem or opportunity, evaluating alternative solutions, selecting and implementing an alternative, and assessing the results. Follow up to determine effectiveness of decision. Leadership is the ability to direct or inspire people to attain certain goals.
