MGTA05H3 Lecture Notes - Lecture 11: Jargon

• School: UTSC
• Department: Management
• Course: MGTA05H3
• Professor: Chris Bovaird

Document Summary

Enterprise: an undertaking or project which takes energy and effort but whose outcome is uncertain. Businesses may start to lose purpose and direction. Need people to determine and communicate its mission leader take others into the future. People (cid:449)ho deter(cid:373)i(cid:374)e a(cid:374)d (cid:272)o(cid:373)(cid:373)u(cid:374)i(cid:272)ate the (cid:271)usi(cid:374)ess"s purpose a(cid:374)d dire(cid:272)tio(cid:374), i(cid:374) business jargon, this is called mission. mission statements. Business articulating mission in a few carefully chosen words. (cid:449)hat"s the purpose: to let others k(cid:374)o(cid:449): (cid:449)hat is to (cid:271)e e(cid:454)pe(cid:272)ted of the(cid:373), (cid:449)hat to e(cid:454)pe(cid:272)t, what are they working towards i(cid:373)porta(cid:374)t (cid:271)e(cid:272)ause (cid:373)a(cid:374)(cid:455) people (cid:449)ill (cid:271)e i(cid:374)terested i(cid:374) the (cid:271)usi(cid:374)ess" purpose a(cid:374)d direction, and success. These people are called stakeholders managing it"s a(cid:271)out getti(cid:374)g thi(cid:374)gs do(cid:374)e. Why managing? to get people to perfor(cid:373) that (cid:449)ill (cid:373)eet the orga(cid:374)izatio(cid:374)"s (cid:373)issio(cid:374) (cid:373)a(cid:374)agi(cid:374)g is u(cid:374)i(cid:448)ersal, does(cid:374)"t just happe(cid:374) i(cid:374) (cid:271)usi(cid:374)ess. Deter(cid:373)i(cid:374)e (cid:449)hat (cid:374)eeds to (cid:271)e do(cid:374)e a(cid:374)d (cid:449)hat"s the (cid:271)est (cid:449)a(cid:455) to a(cid:272)hie(cid:448)e it organizing. Assembling and preparing the resources needed to complete the tasks leading.