Unit 7: Planning and Strategy Formulation
Managers plan and coordinate the work of others so that an organization can achieve its goals. In their planning function, managers identify needed resources (e.g. people, finances, equipment, etc.) and organize them so that employees can accomplish activities and meet set objectives.
In addition to setting company-wide strategy and long-term goals, managers also create interim, short-term goals as a means of focusing the activities of an organization and providing direction to employees.
Completing this unit should take you approximately 5 hours.