MGM101H5 Lecture Notes - Lecture 2: Value Proposition, Economic Surplus
25
MGM101H5 Full Course Notes
Verified Note
25 documents
Document Summary
Make decisions under conditions of uncertainty about the allocations of scarce resources towards achieving the organization"s strategic objectives. Good decision maker (routine, complex/ has to make the best decisions under circumstances) Meeting objectives (makes decisions according to objectives) Business/economic conditions of other countries which are part of the business. Natural disasters around the world affects business (market) Much more complex than it used to be. In constant state of change (decisions only last short term- circumstances change) Market has control (google the company for reviews, etc. ) General manager: ceo, responsible for company, strategic planning. Service operations: wide variety of roles for manager. General public, government, local communities- all affected by our business. Managers have to decide who they want to please. Very demanding job (can"t make everyone happy) *value proposition cae: expertise, reputation (valued company) Finances are given to companies with a track record (reputation) When a company becomes successful, it faces new competition.
