BUS 200 Study Guide - Final Guide: Strategic Management, Time Management, Change Management

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 200
• Professor: Sam Thiara

Document Summary

Managers: people who plan, organize, lead, and control the operations of an organization. A manager who focuses on being effective will likely also be efficient; but a manager who focuses on being efficient may/ may not be effective. Strategic plans: reflect decisions about resource allocations, company priorities, and the steps needed to meet strategic goals, and are usually set by top management. Tactical plans: shorter-range ones concerned with implementing specific aspects of the (cid:272)o(cid:373)pa(cid:374)y(cid:859)s st(cid:396)ategi(cid:272) pla(cid:374), i(cid:374)(cid:448)ol(cid:448)e uppe(cid:396) a(cid:374)d (cid:373)iddle (cid:373)a(cid:374)agement. Operational plans: set short-term targets for daily, weekly, or monthly performance, developed by middle/low- level managers. Involves mobilizing the resources required to complete a particular task. Leading: authority to give orders, ability to guide employees, power to motivate subordinates. Monitoring the fi(cid:396)(cid:373)(cid:859)s pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e a(cid:374)d a(cid:272)ti(cid:374)g to (cid:271)(cid:396)i(cid:374)g it i(cid:374) li(cid:374)e (cid:449)ith the fi(cid:396)(cid:373)(cid:859)s goals: management is a blend of science and art. Science: managers use quantitative models and decision-making techniques to arrive at (cid:858)(cid:272)o(cid:396)(cid:396)e(cid:272)t(cid:859) de(cid:272)isio(cid:374)s (cid:894)(cid:396)outi(cid:374)e a(cid:374)d (cid:449)ell-defined issues)