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1.02 Business

Term Definitions

Conceptual skills Ability to see the "big picture"
Controlling Monitoring the work effort
Directing Providing guidance to employees
Executive management Top level management
Financial resources All sources of money
First-line management Directly give orders to employees
Goals Objectives
Human resources All employees
Information Data, statistics and opinions relating to the busines
Interpersonal skills Ability to communicate, interact and build relationships
Management The process of coordinating resources in order to accomplish an organization's goals
Management function Activities related to management
Manager Job involving management functions
Material resources Equipment used by a business
Mid-level management Report to top level management, give orders to first line management
Middle management Same as mid level management
Organizing Setting up the process to accomplish a certain task
Planning Deciding what work should be done and in what order to do it
Resources Items that van be used to produce goods and services
Staffing Helps the business to find the employees that they need
Strategic planning Long range planning
Strategies Plans of action to achieve goals
Supervisory management First line management
Tactical planning Short range planning
Technical skills An understanding of the technical aspects of a business
Top-level management Responsible for overall operations of business, highest levels
Created by: wcp9321058



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