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Small Business
Vocabulary 11.0
10
Business
12th Grade
04/29/2011

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Term
Autocratic
Definition
A leadership style in which managers maintain total control of the business operation.
Term
Controlling
Definition
The final function of management which compares expected results with actual performance.
Term
Democratic
Definition
A leadership style in which managers are open to new ideas and seek suggestions from employees.
Term
Directing
Definition
A function of management that conveys plans, assignments, and instructions to employees.
Term
Laissez-Faire
Definition
A leadership style in which managers use a ‘hands off’ approach and allow employees to make their own decisions.
Term
Operational plans
Definition
Short-term plans that include routine policies, rules, regulations and budgets for the day-to-day operation of the business.
Term
Organizing
Definition
A function of management which gives structure to job tasks and duties.
Term
Planning
Definition
The first step in management which involves determining business objectives and how to reach desired results.
Term
Strategic plan
Definition
Long-range plans that indicate goals 3 to 5 years ahead.
Term
Tactical plan
Definition
Plans that focus on a period of one year or less.
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