Shared Flashcard Set

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GB101 Ch7
vocab
33
Business
Undergraduate 1
12/11/2008

Additional Business Flashcards

 


 

Cards

Term
Management
Definition
The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources
Term
Planning
Definition
A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives
Term
Organizing
Definition
A management function that includes designing that structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization’s goals and objectives
Term
Leading
Definition
Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives
Term
Controlling
Definition
A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not
Term
Vision
Definition
An encompassing explanation of why the organization exists and where it’s trying to head
Term
Mission Statement
Definition
An outline of the fundamental purposes of an organization
Term
Goals
Definition
The broad, long-term accomplishments an organization wishes to attain
Term
Objectives
Definition
Specific, short-term statements detailing how to achieve the organization’s goals
Term
SWOT Analysis
Definition
A planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats
Term
Strategic Planning
Definition
The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals
Term
Tactical Planning
Definition
The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done
Term
Operational Planning
Definition
The process of setting work standards and schedules necessary to implement the company’s tactical objectives
Term
Contingency Planning
Definition
The process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives
Term
Decision Making
Definition
Choosing among two or more alternatives
Term
Problem Solving
Definition
The process of solving the everyday problems that occur.  Problem solving is less formal than decision making and usually calls for quicker actions
Term
Brainstorming
Definition
Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas
Term
PMI
Definition
Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column
Term
Organization Chart
Definition
A visual device that shows relationships among people and divides the organization’s work; it shows who is accountable for the completion of specific work and who reports to whom
Term
Top Management
Definition
Highest level of management, consisting of the president and other key company executives who develop strategic plans
Term
Middle Management
Definition
The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling
Term
Supervisory Management
Definition
Managers who are directly responsible for supervising workers and evaluating their daily performance
Term
Technical Skills
Definition
Skills that involve the ability to perform tasks in a specific discipline or department
Term
Human Relations Skills
Definition
Skills that involve communication and motivation; they are enable managers to work through and with people
Term
Conceptual Skills
Definition
Skills that involve that ability to picture the organization as a whole and the relationship among its various parts
Term
Staffing
Definition
A management function that includes hiring, motivating, and retaining the best people available to accomplish the company’s objectives
Term
Autocratic Leadership
Definition
Leadership style that involves making managerial decisions without consulting others
Term
Participative (Democratic) Leadership
Definition
Leadership style that consists of managers and employees working together to make decisions
Term
Free-Rein Leadership
Definition
Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives
Term
Enabling
Definition
Giving workers the education and tools they need to make decisions
Term
Knowledge Management
Definition
Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm
Term
External Customers
Definition
Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use
Term
Internal Customers
Definition
Individuals and units within the firm that receive services from other individuals or units
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