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business essentials
| Term | Definition |
|---|---|
| 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 |
| directing | the management function of providing guidance to workers and work projects |
| executive management | top-level management |
| financial resources | all sources of money available to a business |
| first-line management | supervisors who work directly with the employees who carry out the business routine work |
| goals | objectives |
| human resources | people who work to produce goods or services |
| information | knowledge facts or data |
| interpersonal skills | the ability to communicate interact and build relationships with others |
| management | the process of coordinating resources to accomplish an organization's goal |
| management functions | groups of activities related to management (i.e. planning organizing staffing directing and controlling) |
| manager | individual whose job involves carrying out management functions |
| material resources | equipment and supplies used by businesses in their operation |
| mid-level management | managers who report to top-level managers and who have supervisors who report to them |
| middle management | mid-level management |
| organizing | the management function of setting up the way the business |
| planning | the management function of deciding what will be done and how it is done |
| resources | items that can be used to produce goods and services |
| staffing | the management of finding workers for the business |
| strategic planning | long range planning three to five years for the company as a whole |
| strategies | plans of action for achieving goals and objectives |
| supervisory management | first-line management |
| 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 |