MGTA01H3 Chapter Notes - Chapter 7: Bristol Aerospace, Vivendi, Petro-Canada
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MGTA01H3 Full Course Notes
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Document Summary
Management: the process of planning, organizing, leading, and controlling a business"s financial, physical, human, and information resources in order to achieve its goals. Determining what the organization needs to do and how best to get it does requires planning. Planning: that portion of a manager"s job concerned with determining what the business needs to do and the best way to achieve it. It begins when managers determine the firm"s goals: next, they develop a comprehensive strategy for achieving those goals, after a strategy is developed, they design tactical and operational plans for implementing strategy. The portion of a manager"s job that is concerned with mobilizing the necessary resources to complete a particular task know as organizing. Organizing: that portion of a manager"s job concerned with mobilizing the necessary resources to complete a particular task. The importance of the organizing function of management can be seen by considering what happened to hp.
