MGT 4329 Lecture Notes - Standard Operating Procedure, Corporate Social Responsibility, Market Environment
Document Summary
The objective and goal: things we achieve on our way to reaching the goal. To get to the goal in a specific year, satisfy an objective, a mini goal. A mini goal can range from having a larger staff, or a larger internet presence, etc. This is the overall direction of the firm. For example, sustainability: business strategy, functional strategy. Strategies supported by the policies that are put into effect via programs, procedures, That is an example of a product development program. Standard operating procedure - want to reduce time, litigation, and waste. Budget development - want to make sure your money is being spent properly on the things you need. Return you must make in order for the investment to be worthwhile is known as the hurdle rate. Could have the right strategy but the way you implement it could affect a result. Senior level s job is to make sure there is.
