Shared Flashcard Set

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Ch. 24
Management Practice
22
Business
12th Grade
05/12/2009

Additional Business Flashcards

 


 

Cards

Term
Line and staff organization
Definition
adds staff specialists to a line organization
Term
standard
Definition
a yardstick, or a measure, by which something is judged
Term
strategies
Definition
the efforts expected from each area of the business if it is to be successful
Term
internal analysis
Definition
factors that managers can control to improve the business including operations, finances, personnel, and other resources
Term
mission statement
Definition
the most important purposes of directions for the business
Term
line organization
Definition
all authority and responsibility can be traced in a direct line from the president down
Term
unity of command
Definition
requires that no employee have more than one supervisor
Term
organization chart
Definition
a visual device which shows the structure of a organization and the relationship among workers and divisions of work
Term
external analysis
Definition
factors that can affect the success of the business such as customers, competitors, the economy and government
Term
policies
Definition
guidelines used in making decisions regarding specificc, recurring situations
Term
accountability
Definition
term used to relate each indvidual's responsible to a superior in the organization for the quality of work performed
Term
authority
Definition
the right to make decisions abou work assignments
Term
responsibility
Definition
the obligation to do an assigned task
Term
centralized
Definition
where all major planning and decision making is done by a group of top managers
Term
decentralized
Definition
a very large business is didvided into smaller poperating units; managers are given almost total responsibility and authority
Term
opperational planning
Definition
short term and identifies specific activities for each area of the business
Term
procedures
Definition
a list of steps to be followed for performing certain work
Term
goals
Definition
broad outcomes for the business to achieve
Term
business plan
Definition
a written description of the business and its operations with an analysis of the opportunities and risks it faces
Term
span of control
Definition
the number of employee who are dirsctly supervised by one person
Term
project matrix
Definition
work terms that are organized to complete a specific project with project manager
Term
stratgic planning
Definition
long term and provides broad goals and dirextion for the entire business
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