Term
|
Definition
| Broad mission an organization is attempting to carry out on a daily basis. A declaration of the reason an organization exists; important in determining standards, values, strategies. |
|
|
Term
|
Definition
| Defines specific goals an organization hopes to achieve in the future. |
|
|
Term
|
Definition
| specific, measurable, achievable, relevant and time related goals. Valid goals should be specific, accurately measured, possible with resources and environment and relevant to overall objectives. |
|
|
Term
|
Definition
| Amount of money taken in compared to amount of money spent during a given period. Makes it easy to determine if money is being gained or lost. |
|
|
Term
| Return on Investment (ROI) |
|
Definition
| Amount of money earned on investment compared to how much spent on investment. Usually used if an org is attempting to decide between two investments. |
|
|
Term
|
Definition
| Amount of money made compared to the average investment of each shareholder. Usually the foundation of an org's strategic plan, the primary goal of any business is to offer its shareholders the largest return on their investment. |
|
|
Term
| Number of Customers/Orders |
|
Definition
| Exact or estimate count of the number of people purchasing or number of orders for a period. Usually used to identify problems with current marketing/sales strategies. |
|
|
Term
| Average Amount Received Per Order |
|
Definition
| Total amount received for a period divided by the number of orders. Usually used to determine the effectiveness of marketing/sales strategies from their CURRENT Customer Base. Helps to determine if focus should be on expanding customer base or encouraging current customers to spend more thru initiative programs. |
|
|
Term
|
Definition
| Total revenue for a period minus cost of sales divided by the total revenue for that period. Usually used to determine if a particular marketing/sales strategy currently in effect is actually profitable. |
|
|
Term
|
Definition
| Exact or estimated count of how many tasks an org is attempting at one time. Usually used to determine if an org is taking on a larger workload than it normally handles. |
|
|
Term
|
Definition
| Number of opportunites taken advantage of divided by the total number of opportunities available. Useful for developing strategic plans, helps to determine if available opportunities are being used effectively. |
|
|
Term
|
Definition
| Gross revenue from new ideas, products and services divided by the total gross revenue. Used to develop strategic plans. Helps to determine if the new ideas, etc are profitable. Information is compared with market competitors to determine if new innovation strategies should be implemented. |
|
|
Term
|
Definition
| Count of how many orders placed via company website. Measures the effectiveness of their website. Useful in developing strategic plans. |
|
|
Term
| Availabilty of Information Resources |
|
Definition
| Percentage of time the servers, websites, email, etc. are accessbile at the time they are needed. Essential to determining strategic plans. Identify probs with IT systems and personnel to minimize future problems. |
|
|
Term
| Number of Views per Page/Listing |
|
Definition
| Count of how many times customers look at a page or online product. Measures effectivess of websites and ads. Important in strategic planning. Should web marketing and design be rethought? |
|
|
Term
| Current Number of Competitors |
|
Definition
| Number of business within the same market. Measures how much competition, useful in developing strategic plans. |
|
|
Term
| Average Number of New Competitors |
|
Definition
| What is the average number of competitors entering the market each year? Measures how market and competition will change. |
|
|
Term
|
Definition
| Percentage of market the business controls or does business. Important to strategic planning because it measures success and growth within the market and compares it with competition. |
|
|
Term
| Average Income of Customers |
|
Definition
| Amount an average customer would normally make in a given year. Analyzes current economic environment. Important to strategic planning; can consumer afford service/product? |
|
|
Term
| Accounting & Finance Metrics |
|
Definition
| Cash flow, Return on investment (ROI), Return on equity ROE). |
|
|
Term
| Marketing & Sales Metrics |
|
Definition
| Number of customers/orders for a period, Average Amount received per order, Gross profit margin. |
|
|
Term
| Operations & Business Development Metrics |
|
Definition
| Number of activities, Opportunity success rate, Innovation rate. |
|
|
Term
|
Definition
| Number of online orders, Availability of information resources, Number of views per page/listing. |
|
|
Term
| General Business & Economic Environment Metrics |
|
Definition
| Current number of competitors, average number of new competitors, current market share, average income of customers. |
|
|
Term
|
Definition
| Large newspapers, business magazines, industry websites. |
|
|
Term
|
Definition
| Planning, organizing, coordinating, directing, and controlling. |
|
|
Term
|
Definition
| Process of determing what the organization is attempting to achieve and how it is going to achieve that goal. |
|
|
Term
|
Definition
| Process of obtaining and allocating human resources, financial resources, etc. to carry out the plan. |
|
|
Term
|
Definition
| Process of making sure all allocated resources are functioning together as planned to acheive goals. |
|
|
Term
|
Definition
| AKA leading. It is the process of making sure the work associated with the goal is actually carried out effectively. |
|
|
Term
|
Definition
| Process of evaluating the org's progress toward goals. Is the plan actually working? |
|
|
Term
|
Definition
| Process of determing and implementing a plan that leads to the completion of a task within defined constraints. Planning how to complete a project that meets quality standards, achieves predetermined tasks, completed within allotted time and financial limitations. |
|
|
Term
| Factors of Project Management |
|
Definition
| Cost, time spent, scope, quality of work and risks associated with project. |
|
|
Term
|
Definition
| Bar chart used to identify tasks involved with a project and a schedule for completing them. Lists each main task (summary element) and subtasks (terminal elements) that are to be completed in order to finish main task. Includes breakdowns of how much of each task has been completed. Also indicates start and finish dates. |
|
|
Term
| Project Evaluation & Review Technique (PERT) |
|
Definition
| Determins how much time is required to complete a project. Consists of breaking larger project down into separate tasks and organizing the smaller tasks into a chart. (Circle and arrow chart) |
|
|
Term
| Work Breakdown Structure (WBS) |
|
Definition
| Consists of breakine larger project down into separate tasks. Based on the 100% rule which states the subtasks must describe 100% of the work to complete the larger task. Tree type chart structure. |
|
|
Term
|
Definition
| Hiring 3rd parties or contractors to perform tasks usually performed in-house. |
|
|
Term
|
Definition
| Costs of vendor, quality of vendors, ability of vendor to meet org's needs, and experience of vendor. |
|
|
Term
|
Definition
| Hiring an individual or company in another country to perform a task usually done in-house. It is possible to have and offshore division of an organization. |
|
|
Term
|
Definition
| Org performs task in-house by hiring people or aquiring and outside company to perform the task. Usually done to gain control over complex tasks or to eliminate costs of outsourcing. |
|
|
Term
|
Definition
| Strength, weaknesses, opportunities and threats. Used to analyze the org internally and the external environment after goal setting. |
|
|
Term
|
Definition
P- (political) laws, regulations, taxes etc. E- (economic) current state of economy, growth, inflation. S- (social) culture, demographics, population, etc. T- (technology) invention adn implementaion of new tech |
|
|
Term
| Porter's Five Force Analysis |
|
Definition
| Threat of substitute products, threat of new competition, exsisting competition, bargaining power of customers, bargaining power of suppliers. |
|
|
Term
|
Definition
| Decision making strategy that examines and compares the total estimated cost and benefit of each available option. |
|
|
Term
| Organizational Life Cycle |
|
Definition
Birth- business formation, includes aquiring captial, establishing values, and inital business plan. Growth - expansion of market share and profits, number of employees, locations etc. Maturity - expansion levels off and focus shifts to maintaining current attributes. Decline - org begins to lose ability to maintain current attributes. |
|
|
Term
|
Definition
Risk - measure of the potential of a return or rather than loss. Return - measure of monetary value of an undertaking. |
|
|
Term
| Enterprise Risk Management (ERM) |
|
Definition
| Techniques used to identify and minimize the effects of risks that may prevent the achievement of objectives. Usually takes place after a SWOT or PEST anaylsis. |
|
|
Term
|
Definition
Reducing risk - action taken to make the risk less likely to occur or cause harm. Sharing Risk - transfers some of the risk to another party. Avoiding Risk - stoppping activity associated with risk to eliminate it. Accepting Risk - monitoring the risk because benefits outweigh the cost. |
|
|
Term
|
Definition
| Identifies potential risks to company. Consists of a checklist, survey, etc. Designed to assess if an employee or department understanding and is adhering to policies, procedures and regulations set by org in addition to laws and regs set by local, state, and federal govt. |
|
|
Term
|
Definition
| Techniques used to modify an aspect of how the org operates with as little harm as possible. Important because the need to adapt is constant. |
|
|
Term
|
Definition
| Empirical-rational strategy, normative-reeducative strategy, power-coercive strategy. |
|
|
Term
| Empirical-Rational Strategy |
|
Definition
| Assumes people are ultimately intersted in their own well being and will be more likely to accept changes if they understand how they as individuals will benefit from those changes. |
|
|
Term
| Normative-Reeducative Strategy |
|
Definition
| Concept that peer pressure is often an effective tool to bring change. Assumes people rely heavily on social interaction and will act according to societial expectations. This strategy uses slow changes so people will begin to accept the changes as social norms. |
|
|
Term
|
Definition
| Assumes that people will usually listen to authority figures and do what they are told. Makes it clear that there are no options but those chose by mngt. Refusal brings punishment. |
|
|
Term
|
Definition
| Practice of using appropriate practices, procedures, and behaviors to ensure the org functions in a socially acceptable fashion. Ensures each individual is performing their duties in a fair, proper and morally responsbile manner. Essential for any org to maintain a strong sense of what is appropriate and what is unacceptable. |
|
|
Term
|
Definition
| Making a decision regarding a person or thing based on protected characteristics. |
|
|
Term
|
Definition
| Type of discrimination in which an employer institutes a policy that appears reasonable, but prevents persons of certain color, disabilities, military status, national origin, race, religion or sex from receiving employment or benefits of employment. This type of discrimination was first indentified in by the Supreme Court in Griggs vs. Duke Power. |
|
|
Term
|
Definition
| Type of discrimination in which an employer deliberately treats an individual differently because of age, color, disability, military status, national origin, race, religion and/or sex. First identified by Title VII of the Civil Rights Act |
|
|
Term
| Equal Opportunity Employment Commission (EEOC) |
|
Definition
| Formed by Title VII of trhe Civil Rights Act to protect certain groups from unlawful discrimination. Attempts to obtain settlements from offenders or filing lawsuits on behalf of the victim. |
|
|
Term
| Title VII of the Civil Rights Act |
|
Definition
| Passed in 1964, ammended in 1972, 1978, & 1991. Applies to orgs with more than 15 employees with the exception of religious orgs and Indian reservations. Prevents unlawful discrimination in the workplace based on color, national origin, race, religion, pregnancy and/or sex. |
|
|
Term
| Age Discrimination in Employment Act (ADEA) |
|
Definition
| Prevents discrimination against people over 39. Applies to companies with more than 20 people. Does not apply to firefighters, police officers, those who do not meet occupational qulifications and termination of reasonalbe cause. Must have 7 days to change mind if waiving. |
|
|
Term
| Americans with Disabilities Act (ADA) |
|
Definition
| Prevents discrimination of individuals with disabilities. Applies to companies with more than 15 employees, can't cause financial or operational harm. Must be reasonably accomodating. |
|
|
Term
| Civil Rights Act 1991 (CRA) |
|
Definition
1) Declared specific rights of discrimination victims and the remedy. (2) Acknowledged and defined disparate impact.
(3) Specific regulations & guidelines related to disparate impact cases.
(4) Expanded on previous anti-discrimination laws to enclude congressional employees, foreign locations of American businesses, right to jury trial/civil suit. |
|
|
Term
| Rehabilitation Act of 1973 |
|
Definition
| Similar to ADA, but only coverd disabled people seeking federal employment or federal contractors with over $10,000 in contracts per year. |
|
|
Term
| Vietnam Era Veteran's Readjustment Assistance Act (VEVRAA) |
|
Definition
| Prevents discrimination against veterans. Only applies to federal (sub) contractors with $25,000 or more in contracts. The veteran had to serve more than 180 days with some of the time between 8/8/64 & 5/7/75 or be disabled rated at 10% and be eligible for compensation for Dept. of Veteran Affairs, or served active duty for a conflict with authorized campaign badge. |
|
|
Term
|
Definition
| Claim must be filed within 300 days of incident if in state with an EEOC agency, if without one, then 180 days. |
|
|
Term
| Civil Rights Act 1991 Damages |
|
Definition
Between 15-101 employees $50,000
Between 100-201 employees $100,00
Between 200-501 Employees $200,000
More than 500 employees $300,000
These limits only apply to compensatory and punitive damages. |
|
|
Term
| Meritor Savings Bank v. Vinson |
|
Definition
| Supreme Court recognizes sexual harrassment and hostile work environment as a form of sexual harrassment. |
|
|
Term
| Uniform Guidlines on Employee Selection Procedures (UGESP) |
|
Definition
| Passed 1978. Principles, techniques and porcedures to help employers comply with federal anti-discrimination laws. |
|
|
Term
| Uniform Guidlines on Employee Selection Procedures (UGESP) |
|
Definition
| Passed 1978. Principles, techniques and porcedures to help employers comply with federal anti-discrimination laws. |
|
|
Term
|
Definition
| 1965. Established concept of Affirmative Action. Stated federal contractors, to avoid discrimination, were required to ensure equal opportunites to protected classes. Required federal contractors with more than $10,000 contacts per year to implement AA plans and those with more than $50,000 in contracts or 50 employees to file written AA plans with the Office of Federal Contract Compliance Programs (OFCCP) |
|
|
Term
| Affirmative Action Plans (AAPs) |
|
Definition
|
|
