Pacing

A company initiated project that focuses on a few products and technologies 

What are enterprise zones?

Specific geographic areas designated for economic revitalization

Definition of management

Process of achieving organizational objectives through people and other resources. 

Know the different roles of the

management levels

Top management: CEO, CFO

Middle Management: Line managers

Supervisory: Supervisors who supervise floor employees

Different types of business planning

Strategic: CEO's, CFO's and executives do this. They focus on primary needs of the firm and allocate reaources to make it happen

Tactical Planning: This invilves implementing the plans during strategic planning

Operation Planning: This focuses on implementing the plans from the previous two in concentrated areas of the company

Contingency Planning: These are plans that allow a company to function even if unprecedented circumstaces arise

What is a mission statement and why are they important

This is a written explanation of a company’s intentions and claims. They serve as guide for employees and customers in believing in why the company was created

What are programmed decisions

Simple, common, and frequently occurring problem for which a solution has already been determined

Different types of organizational structures 

Line Organizations- direct flow of authority from the CEO to the employees. A hierarchy of managers and workers.

Line-and-staff Organizations- combines direct flow of authority but has departments that support the line departments.

Committee Organizations- is a structure that places authority and responsibility jointly in the hands of a group of individuals rather than a single manager.

Matrix Organizations- This method is focused on linking employees from different parts of the organization to work together on specific projects.