MGMT 309 Ch 1 Graded A+
What is an Organization? - Definition: A group of people working together in a structured and coordinated way to achieve a set of
goals.
Resource-Based Perspective of Organizations
1. Human Resources: Managerial talent and labor.
2. Financial Resources: Capital to ...
- Definition: A group of people working together in a structured and coordinated way to achieve a set of
goals.
Resource-Based Perspective of Organizations
1. Human Resources: Managerial talent and labor.
2. Financial Resources: Capital to support ongoing and long-term operations (e.g., funding).
3. Physical Resources: Raw materials, office and production facilities, equipment.
4. Information Resources: Usable data essential for effective decision-making.
What is Management?
- Definition: A set of activities (planning and decision-making, organizing, leading, and controlling)
directed at managing an organization's resources (human, financial, physical, and informational) to
achieve its goals efficiently and effectively.
Efficiency vs. Effectiveness
- Efficient: Using resources wisely and cost-effectively.
- Effective: Making the right decisions and successfully implementing them.
What is a Manager?
- Definition:
- An individual whose primary responsibility is to carry out the management process.
- Someone who engages in planning, decision-making, organizing, leading, and controlling.
Key Management Functions
1. Planning/Decision Making: Determining goals and courses of action.
2. Organizing: Coordinating activities and resources.
, 3. Leading: Motivating and managing people.
4. Controlling: Monitoring and evaluating activities.
Kinds of Managers by Level
1. Top Manager:
- Examples: President, VP, CEO.
- Responsible for overall organization management, setting goals, developing strategies, and
representing the organization externally.
- Largest group of managers; implements policies and plans developed by top managers and
supervises lower-level managers.
3. First-Line Manager:
- Responsible for supervising and coordinating activities of operating employees.
- Focuses on day-to-day management; spends a lot of time supervising subordinates.
Kinds of Managers by Area
1. Marketing Manager:
- Focuses on consumer engagement, product development, promotion, and distribution.
2. Financial Manager:
- Manages financial resources; covers areas such as accounting, investments, and cash management.
3. Operations Manager:
- Manages systems that create the organization’s products/services, focusing on production control
and quality management.
4. Human Resource Manager:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CertifiedGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
