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3.02 key terms
Term | Definition |
---|---|
benefits | advantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance) |
conceptual skills | the ability to see the "big picture" and think about how things will work together |
controlling | the management function that monitors the work effort |
data processing | converting facts and figures into useful information |
directing | the management function of providing guidance to workers and work projects |
first-line managment | supervisors who work directly with the employees who carry out the business's routine work |
human resources | people who work to produce goods or services |
information management | the process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision-making |
information | knowledge, facts, or data presented in a useful form |
interpersonal skills | the ability to communicate, interact, and build relationships with others |
compliance | fulfilling the requirements of the law |
management function | groups of activities related to management (i.e., planning, organizing, staffing, directing, and controlling) |
management information system (MIS) | an integrated technology that assists with an organization's information management needs |
material resources | equipment and supplies used by businesses in their operation |
mid-level management | managers who report to top-level management and who have supervisors who report to them |
organizing | the management function of setting up the way the business's work will be done |
planning | the management function of deciding what will be done and how it will be accomplished |
professional development | steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession |
proprietary information | private information that belongs to an organization and cannot be released to the public |
staffing | a human resources management activity that involves recruiting, interviewing, hiring, orienting, and dealing with job changes for a company's employees |
strategic planning | long-range planning (three to five years) for the company as a whole |
tactical planning | short-range planning (one year) of specific actions the business will take |
technical skills | ability to understand the specialized aspects of jobs |
top-level management | all managers who are responsible for the operation of the company or a business unit |
trade secret | Information or a process that gives a business an advantage over competitors who do not know the information or process. |