ADM 1100 Lecture 1: Lecture 1 - Introduction to Management
23 Feb 2017
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Document Summary
A good manager has critical thinking skills, creativity, vision and leadership. Mclachlan shows critical thinking (contracts, creating and developing businesses), vision (understanding customers as female focus was effective), creativity (songs), leadership (organization of businesses, band, partnerships, etc. ) Not-for-profit businesses - goal is not profits: goal is to provide benefits to customers as well as raise money from donor stakeholders. Profitability list of 2012: top 3 are banks (td, scotia, rbc, followed by 3 energy, then 2 more banks, and 3 more energy to round out the top 11. Profitability, growth, safe and challenging work environment, new product development, ethics, social responsibility, worker satisfaction, high-quality goods and services. Factors of production- things that allow you to do a production process to create products and services; produce value in the economy. Human resources (working population and skills), natural resources (land, minerals, oil) capital (cash, material, building, machinery), entrepreneurship.
