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3.02 Key Terms

Business Essientials

TermDefinition
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 manager Top level management.
Financial resources All the resources of money available to a business.
First line management Supervisors who work directly with the employees who carry out the business's routine work.
Goals Objectives.
Human resources People who work to produce goods and 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 goals.
Management Function 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 business in their operation.
Mid level management Managers who report to top level management and who have supervisors who report to them.
Middle management Mid level management
Organizing The management function of setting up in 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.
Resources Items that can be used to produce goods and services .
Staffing The management function 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.
Created by: angelo.g828
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