MGTA01H3 Chapter Notes - Chapter 7: Time Management, Chief Executive Officer
![MGTA01H3 Full Course Notes](https://new-docs-thumbs.oneclass.com/doc_thumbnails/list_view/2177598-class-notes-ca-utsc-mgta01h3-lecture4.jpg)
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Management: is the process of planning, organizing, leading, and controlling an enterprise"s finanacial, physical, human and information resources to achieve the organization"s goals of supplying various products and service. For example: ceo of walt disney productions. Actors are not managers they play a role in the movie they do not follow the four functions of management. Planning has three main components: managers determine the firm"s goals, they develop a comprehensive strategy for achieving those goals, and they design tactical and operational plans for implementing the strategy. Planning process has five basic steps: goals are established for the organization. For example a commercial airline may set a goal to fill every seat with a passenger every flight: managers identify whether a gap exists between the company"s desire and actual position. For example a year-end financial analysis will reveal whether a company met its profitability objectives: managers develop plans to achieve the desired objectives.