BUS208: Principles of Management

Read this section, which introduces the process that an organization uses to create and implement strategic, tactical, and operational plans. Managers use these plans to provide a roadmap from which a company's business develops. Pay attention to the discussion of how to conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis and the discussion on mission statements and establishing goals and objectives. Review contingency planning, which requires managers to identify an alternative route toward achieving a goal or objective. Work through the exercises at the end of the section.