BUS 010 Lecture Notes - Lecture 19: Human Resource Management System, Moe Williams, Management System
Document Summary
Management systems influence the ways in which strategies get realized in practice. Management systems: the information systems, the strategic planning systems, the financial systems; and, the human resource management systems. Information is fundamental to the operation of all management systems. Administrative hierarchies are founded on vertical information flows. Information systems: upward flow of information to manager, downward flow of instructions. The trend toward decentralization and informality rests on two key aspects of increased information availability: information feedback to the individual on job performance. Has made self-monitoring possible: information networking. Allowed individuals to coordinate their activities voluntarily without hierarchal supervision. The strategy formulation process is an important vehicle for achieving coordination within a. A strategic plan typically comprises of the following elements: a statement of the goals, a set of assumptions or forecasts, a qualitative statement, specific action steps, a set of financial projections.
