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Business 8&9
Business 115 chapters 8&9 Vocabulary terms
| Question | Answer |
|---|---|
| Economies of Scale | Situation where companies can reduce production costs if they can purchase materials in bulk |
| Hierachy | System where one person is at the top and a ranked ordering from top down |
| Chain of Command | line of authority from top of heirchy to the lowest level |
| Bureaucracy | organization with many layers of managers that set rules and regulations |
| Centralized Authority | structure when decision making is maintained at top level at companys headquarters |
| Decentralized Authority | when decision making authority is to lower-level managers at local conditions |
| Span Control | Optimum number of subordinates a manager supervises or should supervise |
| Tall organization structure | The pyramidal organization chart would be quite tall with various levels of managment |
| Flat organization structure | few layers of managment and broad span control |
| Departmentalization | The dividing of organizational functions |
| Line organization | direct 2 way lines of responsibility, authority, and comunication. Running from top to bottom. |
| Line personnel | Employees who are part of a chain of command, resposible for acheiving goals. |
| Matrix Organization | Specialists from different parts brought together to work on specific projects but remain part of lin-and-staff structure |
| Cross-Functional Self Managed Teams | Groups from diff departments working together on a long term basis. |
| Networking | Using communications technology to link organizations on common objectives. |
| Real time | The present moment |
| Transparency | A concept of companies working so close together that electronic information is shared as if they were one company |
| Virtual Corporation | Temporary networked organization made up of replaceable firms that join and leave as needed. |
| Benchmarking | Comparing an organizations, practices, products, and processes against the worlds best. |
| Core Competencies | functions that the organization can do as well of better then any in the world. |
| Restructuring | Redesigning an organization for more effectivness |
| Inverted Organization | Organization that has contact people at the top and the chief executive officer at the bottom. |
| Organizational Culture | Widely shared values that provide unity to achieve goals. |
| Formal Organization | Details lines of authority,and position that is, the structure shown on charts. |
| Informal Organization | relationships and lines of authority develops spontaneously as employees meet and form power centers |
| Form Utillity | The value added by the creation offinished goods and services. |
| process manufacturing | part of the production process that physically or chemically changes materials |
| assembly process | part of the production process that puts together components |
| continuos process | production process in which long productions runs turn good over time. |
| intermittent process | process in which the production run is short and the machines are changed frequently to make different products |
| Computer-aided design (CAD) | use of computers in the design of products |
| computer-aided manufacturing (CAM) | use of computer in manufacturing products |
| computer-integrated manufacturing (CIM) | Uniting CAD and CAM |
| flexible manufacturing | designing machines to do mulitiple tasks to produse variety of products |
| Lean Manufacturing | Production of goods using less of everything compared to mass production |
| Mass Customization | Tailoring products to meet the needs of individual costomers. |
| facility location | process of selecting a geographic location for a companys operations |
| facility layout | physical arrangement of resources in the production process |
| Just -in-time | minimum inventory krpt in store and other delivered in time to replace |
| purchasing | searches for quality resources, finds best supliers, and negotiates price |
| Quality | constantly producing errors before and after delivery to the costomer |
| six sigma | quality measure that allows only 3.4 defects per million opportunities |
| Statisatical Quality Control (SQC) | continuesly moniter all phases of the production process |
Created by:
astefanik
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