BUS 201 Study Guide - Final Guide: Cost Leadership, The Foundations, Profit Center

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

Corporate culture: the shared experiences/values/norms/ethical stance in an organization. Management: process of planning/organizing/leading/controlling enterprise financial/physi(cid:272)al/hu(cid:373)a(cid:374)/i(cid:374)for(cid:373)atio(cid:374) resour(cid:272)es to a(cid:272)hie(cid:448)e orga(cid:374)izatio(cid:374)"s goals. Efficiency: achieving greatest lvl output with given input: doing things right. Effectiveness: achieving org goals: doing the right things. Pro(cid:272)ess of deter(cid:373)i(cid:374)i(cid:374)g fir(cid:373)"s goals + develop strategy to achieve goals. Managers identify gap between goals and current position: 3. Managers develop plans to achieve goals: 4. Hierarchy of plans: each level reflecting plans for which mgrs. Process of deciding which jobs to be performed + how jobs coordinated to reach company goals. Most busi. prep organization charts/diagrams: everyone understands job + how jobs relate to each other. Leading: managers guide + motivate workers to meet company objectives. Controlling: monitoring performance to assure goals are met. Top managers: set policies, strategies, decisions, represent company: responsible for board and stockholders. Middle managers: implement strategies/policies/decisions from top management. Human resource managers: hire, train, evaluate, compensate employees. Operations managers: control production, inventory and quality.