Strategic Management: Formulation and Implementation

Organizational Resources

The organization is where resources come together. Organizations use different resources to accomplish goals. The major resources used by organizations are often described as follow: (1) human resources, (2) financial resources, (3) physical resources, and (4) information resources.  Managers are responsible for acquiring and managing the resources to accomplish goals.

What Is Management?

 The term management can be and often is used in several different ways. Mary Parker Follett, described management as "the art of getting things done through people."  From Peter Drucker's viewpoint, managers give direction to their organizations, provide leadership, and decide how to use organizational resources to accomplish goals. The term management in this thesis refers to the definition of management described by Richard L. Daft:

 "Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources"

There are two important ideas in this definition: (1) the four functions of planning, organizing, leading, and controlling and (2) the attainment of organization goals in an effective and efficient manner.