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buessness management
buisness
| Question | Answer |
|---|---|
| Policy | is a predetermined course of action which is established to provide a guide toward accepted business strategies and objectives. |
| Procedure | is to provide the reader with a clear and easily understood plan of action required to carry out or implement a policy. |
| Management | the process of accomplishing the goals of an organization through the effective use of people and other resources |
| Planning | determine objectives in advance and the methods to achieve them |
| Organizing | establish a structure of authority for all work |
| Staffing | recruit, hire and train workers; maintain favorable working conditions |
| Directing | make decisions, issue orders and directives |
| Coordinating | interrelate all sectors of the organization |
| Interpersonal | This role involves human interaction |
| Informational | This role involves the sharing and analyzing of information. |
| Decisional | This role involves decision making |
| Natural resources | are raw materials produced by nature. |
| Human resources | are the people who contribute physical and mental energy to the production process. |
| Capital resources | are the tools, equipment, and buildings that are used to produce goods and services. |
| Top Level of Management | It consists of board of directors, chief executive or managing director |
| Middle Level of Management | The branch managers and departmental managers constitute middle level. They are responsible to the top management for the functioning of their department |
| Lower Level of Management | also known as supervisory / operative level of management. It consists of supervisors, foreman, section officers, superintendent etc |
| Plan | is a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions |
| Goal | a desired future state that the organization attempts to realize |
| Planning | incorporates both ideas: It means determining the organization's goals and defining the means for achieving them |
| Planning Process | Establishment of objectives, Establishment of Planning Premises, Choice of alternative course of action, Formulation of derivative plans, Securing Co-operation,and Follow up/Appraisal of plans |
| Managerial Planning | It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. |
| Ethics | refers to standards of moral conduct that individuals and groups set for themselves, defining what behavior they value as right or wrong. |
| Respect | esteem for or a sense of the worth or excellence of a person, a personal quality or ability, or something considered as a manifestation of a personal quality or ability |
| Code of Conduct | can also act as a way of presenting an organization's or company's philosophy or ethical approach to the world |
| Business Letter | is a form of communication used to convey a formal message to one or more parties. |
| Letter of Application | introduces the job applicant |
| Organizing | To make thing more easy to find |
| New Employee Orientation | is the process you use for welcoming a new employee into your organization |
| Division of Labor | is the specialisation of cooperative labour in specific, circumscribed tasks and like roles |
| Retention | the ability to retain facts and figures in memory |
| Performance Standard | the standard of preformence |
| Organizational Goal | desired states of affairs or preferred results that organizations attempt to realize and achieve |
| Official/strategic Goal | formally stated goals of a organization descripted in its chapter and annual reports |
| Tactical/Operative Goal | the outcomes that the organizational acctually seeks to attain through its opperating polices and activites |
| Operational Goal | preformence objectives and described behaviors within an organization |
| Economic Goal | goals for the economy |
| Cultural Goal | goals for the cultrual aspect of buisness |
| Order Goal | goals for the order |
| Product Goal | characteristics of the goods or serveces like quality, styling, uniqueness, variety and price |
| Consumer Goal | goals for the consumer of the buisness |
| Mission | is a brief description of a company's fundamental purpose. |
| Objective | Business objectives are the stated, measurable targets of how to achieve business goals |
| Interdependent jobs | relating to two or more people or things dependent on each other |
| Knowledge information | an intangible combination of human experiences, values, and understandings that provide structure for interpreting and reacting to new experiences |
| Information | organized facts or data that can be easily identified, distributed, and managed |
| Tacit knowledge | knowledge that is known by an individual but is difficult to transfer to others either verbally or in writing |
| Explicit knowledge | knowledge that can be easily communicated to others an/or captured and stored in some type of document or database |
| Knowledge management | the process of creating, identifying, organizing, sharing, and using knowledge sources for the benefit of the organization |
| Information management | the process of accessing, processing, maintaining, evaluating, and disseminating facts or data for the purpose of assisting business decision-making. |
| Intellectual capital | refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce |
| Trade secrets | any confidential business information which provides an enterprise a competitive edge |
| Inevitable disclosure | is a legal doctrine through which an employer can use trade secret law to enjoin a former employee from working in a job that would inevitably result in the disclosure and use of the employer's trade secrets. |
| Non-compete agreement | an employee promises not to work for a direct competitor for a specified period of time after he leaves the company |
| Knowledge harvesting | capturing and transferring vital scientific, engineering, technical, and business insights and complex cognitive processes |
| Communities of practice | people who share a craft and/or a profession |
| Knowledge codification | means converting tacit knowledge to explicit knowledge |
| Internship | a professinal teaching you how to do yu job and what to do in the job |
| Peer team | a team of peers |
| Job shadow | a program for students to find out what it is like to be in a specific profession |
| Mentor | someone showing you how to do your job and guiding you though the proccess |
| Knowledge Mapping | An ongoing joint quest to help discover the constraints, assumptions, location, ownership, value and use of knowledge assets, artifacts, people and their expertise. |
| Relational Databases | is a database that conforms to relational model theory |
| Accountability Matrix | Table used in project management to ensure that every project element is properly assigned |
| Intranet | is a computer network that uses Internet Protocol technology to securely share any part of an organization's information or network operating system within that organization |
| Inquiry | A question |
| Purchasing | buying something from a buisness |
| Inventory Control | is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply |
| Quality Control | is a process by which entities review the quality of all factors involved in production |
| Logistics | is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers or corporations |
| Operations | are those ongoing recurring (cyclic) activities involved in the running of a business for the purpose of producing value for the stakeholders |
| Electronic Data Interchange | It is used to transfer electronic documents or business data from one computer system to another computer system, i.e. from one trading partner to another trading partner without human intervention |
| Flexible Manufacturing System | is a manufacturing system in which there is some amount of flexibility that allows the system to react in the case of changes, whether predicted or unpredicted |
| Computer-Aided Manufacturing | is the use of computer software to control machine tools and related machinery in the manufacturing of workpieces |
| Material Requirements Planning | is a production planning and inventory control system used to manage manufacturing processes |
| Enterprise Resource Planning | systems integrate internal and external management info across a organization, embracing finance/accounting, manufacturing, sales and service, ERP systems automate this activity with an integrated software application |
| Product planning | is the ongoing process of identifying and articulating market requirements that define a product's feature set |
| Procurement | is the acquisition of goods or services |
| Technical Data Management Systems | is essentially a Document management system (DMS) pertaining to the management of technical and engineering drawings and documents |
| Purchase Order | document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer |
| Sealed Bid | Document enclosed in a sealed envelope and submitted in response to invitation-to-bid |
| Dutch auctions | is a type of auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the price |
| Reverse auctions | type of auction in which the roles of buyers and sellers are reversed |
| Vendor | or a supplier, is a supply chain management term meaning anyone who provides goods or services to a company |
| Commitment | commiting to a compeny or buisness |
| Compartmentalization | is the act of splitting an idea or concept up into parts, and trying to enforce thought processes which are inhibiting attempts to allow these parts to mix together again |
| Employee benefits | benifts that employees recive when they work for a buisness |
| Employee relations | the relationsships between employees |
| Compensation | reciving pay when youre sick or injured |
| Staffing | the act of recrutting, hiring, training and staffing a buisness |
Created by:
cockman
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