MGTA02H3 Lecture Notes - Lecture 1: Ikea, Food Industry, Value Chain
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MGTA02H3 Full Course Notes
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Chapter #1: managing managers: working to accomplish a task. Business - organized effort created for a purpose: commonly all business"s share a common purpose, to satisfy its customers" needs through goods/services and make profit (profit -generating more revenue than expenses, leaders define purpose and direction. In a business with multiple owners such as a partnership (partners) / corporation (shareholders), the leadership role is assigned to directors or senior employees. Managing - process of planning, organising, leading and controlling resources in order to accomplish a task. Managers - individuals responsible for planning, organizing, leading and controlling resources in order to accomplish a task. To get things done, managers engage in 4/5 activities: Get to your grandma"s house on time and make a nice impression mission, Planning - determining what needs to be done, and how to best accomplish it. Organizing - assembling and preparing the resources necessary to complete a task.
