MGTA01H3 Chapter Notes - Chapter 7: Firstline
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MGTA01H3 Full Course Notes
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Document Summary
Management is the process of planning, organizing, leading and controlling an enterprise"s financial, physical, human and information resources to achieve its goals. Planning is the portion of a manager"s job concerned with determining what the business needs to do and the best way to do it. Three steps to planning: 1) goals are established, 2) develop a comprehensive strategy for achieving those goals, 3) design tactical and operational plans for implementing the strategy. Organizing is the portion of the manager"s job concerned with mobilizing the necessary resources to complete a particular task. Leading is the portion of the manager"s job concerned with guiding and motivating employees to meet the firm"s objectives. Controlling is the portion of a manager"s job concerned with monitoring the firm"s performance and, if necessary, acting to bring it in line with the firm"s goals. Three basic levels of management: senior, middle and first-line managers.
