study guid 2 mgmt
study guid 2 mgmt MGMT 301
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This 2 page Study Guide was uploaded by Evangelos Katradis on Tuesday March 1, 2016. The Study Guide belongs to MGMT 301 at Pennsylvania State University taught by Ronald Johnson in Winter2015. Since its upload, it has received 30 views.
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Date Created: 03/01/16
MGMT Study Guide 2 Chapter 6 Controls Controlling ensuring results by measuring performance and taking corrective action The Control Process 1. Set performance objectives 2. measure actual performance 3. compare actual to objectives 4. take actions to control process 4 R’s 1. Rides 2. Retail 3. Restaurants 4. Rest Controls 1. Inputs 2. Throughputs 3. Outputs External Controls corporate: market bureaucratic personal: social norm (clan) MGMT by objectives joint plan make set objectives together act alone but have strong reporting requirements joint control how did “we” do? (performance) Chapter 7 Strategy Strategy comprehensive plan guiding resource allocation to achieve long term org. goals Strategic Intent focuses energy on a compelling goal Strategy Levels in Business: 1. Corporate 2. Business 3. Functional Strategy: Getting Bigger: 1. Basic growth within current operations 2. Concentration expansion of current business 3. Diversification related or new business 4. Vertical Integration buy partners in supply chain 5 Forces: 1. Entrants 2. Suppliers 3. Industry Comp. 4. Customers 5. Substitutes
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