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MGT 100 Chapter 5
Business Management
36
Computer Science
Undergraduate 3
12/09/2015

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Term
Process of planning, organizing, leading, and controlling an organization's resources to achieve its goal.
Definition
Management
Term
Management process of determining what an organization needs to do and how best to get it done.
Definition
Planning
Term
A chart that diagrams the various jobs within a company and how those jobs relate to one another.
Definition
Organization charts
Term
Management process of determining how best to arrange an organization's resources and activities into a coherent structure.
Definition
Organizing
Term
Management process of guiding and motivating employees to meet an organization's objectives.
Definition
Leading
Term
Management process of monitoring an organization's performance to ensure that is is meeting its goals.
Definition
Controlling
Term
The three basic levels of management are ____, ____, and ____ management.
Definition
top middle first-line
Term
Manager responsible for a firm's overall performance and effectiveness.
Definition
Top Manager
Term
Manager responsible for implementing the strategies and working toward the goals set by top managers.
Definition
Middle Manager
Term
Manager responsible for supervising the work of employees.
Definition
First-Line Manager
Term
Skills needed to perform specialized tasks.
Definition
Technical Skills
Term
Skills in understanding and getting along with people.
Definition
Human Relations Skills
Term
Abilities to think in the abstract, diagnose and analyze different situations, and see beyond the present situation.
Definition
Conceptual Skills
Term
Skills in defining problems and selecting the best courses of action.
Definition
Decision-Making Skills
Term
Skills associated with the productive use of time.
Definition
Time Management Skills
Term
Process of helping an organization maintain an effective alignment with its environment.
Definition
Strategic Management
Term
Objective that a business hopes and plans to achieve.
Definition
Goal
Term
Broad set of organizational plans for implementing the decisions made for achieving organizational goals.
Definition
Strategy
Term
Organization's statement of how it will achieve its purpose in the environment in which it conducts its business.
Definition
Mission Statement
Term
Goal set for an extended time, typically five years or more into the future.
Definition
Long-Term Goal
Term
Goal set for a period of one to five years into the future.
Definition
Intermediate Goal
Term
Goal set for the very near future.
Definition
Short-Term Goal
Term
Strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines.
Definition
Corporate Strategy
Term
Strategy, at the business-unit or product-line level, focusing on improving a firm's competitive position.
Definition
Business Strategy
Term
Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity.
Definition
Functional Strategy
Term
Creation of a broad program for defining and meeting an organization's goals.
Definition
Strategy Formulation
Term
Goal derived directly from a firm's mission statement.
Definition
Strategic Goal
Term
Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation.
Definition
SWOT Analysis
Term
Process of scanning the business environment for threats and opportunities.
Definition
Environmental Analysis
Term
Process of analyzing a firm's strengths and weaknesses.
Definition
Organizational Analysis
Term
Plan reflecting decisions about resource allocations, company priorities, and steps needed to meet strategic goals.
Definition
Strategic Plan
Term
Generally short-term plan concerned with implementing specific aspects of a company's strategic plans.
Definition
Tactical Plan
Term
Plan setting short-term targets for daily, weekly, or monthly performance.
Definition
Operational Plan
Term
Identifying aspects of a business or its environment that might entail changes in strategy.
Definition
Contingency Planning
Term
Organization's methods for dealing with emergencies.
Definition
Crisis Management
Term
The shared experiences, stories, beliefs, and norms that characterize an organization.
Definition
Corporate Culture
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