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key terms 1.02
vocab
| Term | Definition |
|---|---|
| Top-level management | responsible for controlling and overseeing the entire organization |
| Conceptual skills | Conceptual skills allow a manager to visualize the entire organization and work with ideas and the relationships between abstract concepts |
| Controlling | determine the behavior or supervise the running of. |
| Directing | control the operations of; manage or govern. |
| Executive management | is the highest level of management in an organization responsible for planning, leading and controlling a business. Senior managers may report to a chairman and board of directors. |
| financial management | focuses on ratios, equities and debts. It is useful for portfolio management, distribution of dividend, capital raising, hedging and looking after fluctuations in foreign currency and product cycles |
| First-line management | Term describing the management level of a company employee directly above non-managerial workers. |
| goals | the object of a person's ambition or effort; an aim or desired result. |
| Human resources | the personnel of a business or organization, especially when regarded as a significant asset. |
| Information | facts provided or learned about something or someone. |
| Interpersonal skills | are the behaviors and tactics a person uses to interact with others effectively. In the business world, the term refers to an employee's ability to work well with others. |
| Management | the process of dealing with or controlling things or people. |
| Management function | has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes. |
| Manager | a person responsible for controlling or administering all or part of a company or similar organization. |
| Material resources | Material resources are materials found in the natural world that have practical use and value for humans. |
| Mid-level management | is at the center of a hierarchical organization, subordinate to the senior management but above the lowest levels of operational staff. |
| Middle management | is the intermediate management level of a hierarchical organisation that is subordinate to the executive management |
| Organizing | arrange into a structured whole; order. |
| Planning | the process of making plans for something. |
| Resources | a stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively. |
| Staffing | relates to the recruitment, selection, development, training and compensation of the managerial personnel. |
| Strategic planning | is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. |
| Strategies | a plan of action or policy designed to achieve a major or overall aim. |
| Supervisory management | The action of overseeing and managing employees in the workplace. |
| tactical planning | Tactical planning occurs after a business, team, or individual has created a strategic plan that outlines general goals and objectives. |
| Technical skills | are the abilities and knowledge needed to perform specific tasks. They are practical, and often relate to mechanical, information technology, mathematical, or scientific tasks. |
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