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busniess chapter #7

TermDefinition
1. Management The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
2. Planning A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
3. Organizing A management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization’s goals and objectives.
4. Leading Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives.
5. Controlling A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
6. Vision An encompassing explanation of why the organization exists and where it’s trying to head.
7. Mission statement An outline of the fundamental purposes of an organization.
8. Goals The broad, long-term accomplishments an organization wishes to attain.
9. Objectives Specific, short-term statements detailing how to achieve the organization’s goals.
10. SWOT analysis A planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats.
11. strategic planning The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
12. tactical planning The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.
13. operational planning The process of setting work standards and schedules necessary to implement the company’s tactical objectives.
14. contingency planning The process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives.
15. decision making Choosing among two or more alternatives.
17. Brainstorming Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
18. PMI Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column.
19. Top management The highest level of management, consisting of the president and other key company executives who develop strategic plans.
20. middle management The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.
21. supervisory management Managers who are directly responsible for supervising workers and evaluating their daily performance.
22. technical skills Skills that involve the ability to perform tasks in a specific discipline or department.
23. human relations skills Skills that involve communication and motivation; they enable managers to work through and with people.
24. conceptual skills Skills that involve the ability to picture the organization as a whole and the relationships among its various parts.
25. Staffing A management function that includes hiring, motivating, and retaining the best people available to accomplish the company’s objectives.
26. Transparency The presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders.
27. autocratic leadership Leadership style that involves making managerial decisions without consulting others.
28. participative (democratic) leadership Leadership style that consists of managers and employees working together to make decisions.
29. free-rein leadership Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.
30. enabling Giving workers the education and tools they need to make decisions.
31. knowledge management Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.
32. external customers Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.
33. internal customers Individuals and units within the firm that receive services from other individuals or units.
Created by: ladies1345
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