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B Survey Unit 4
Fourth Exam Terms
| Term | Definition |
|---|---|
| Autocratic Leaders | Leaders who hoard decision-making power for themselves and typically issue orders without consulting their followers |
| Conceptual Skills | The ability to grasp a big-picture view of the overall organization, the relationships among its various parts, and its fit in the broader competitive environment |
| Contingency Planning | Planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans |
| Controlling | Monitoring performance and making adjustments as needed |
| Degree of Centralization | The extent to which decision-making power is held by a small number of people at the top of the organization |
| Democratic Leaders | Leaders who share power with their followers. While they still make final decisions, they typically solicit and incorporate input from their followers |
| Departmentalization | The division of workers into logical groups |
| Equity Theory | A motivation theory that proposes that perceptions of fairness directly affect worker motivation |
| Expectancy Theory | A motivation theory that concerns the relationship among individual effort, individual performance, and individual reward |
| First Line Management | Managers who directly supervise non-management employees |
| Free-Rein Leaders | Leaders who set objectives for their followers but give them freedom to choose how they will accomplish those goals |
| Human Skills | The ability to work effectively with and through other people in a range of different relationships |
| Job Enrichment | The creation of jobs with more meaningful content, under the assumption that challenging, creative work will motivate employees |
| Leading | Directing and motivating people to achieve organizational goals |
| Line Managers | Managers who supervise the functions that contribute directly to profitability: production and marketing |
| Line Organizations | Organizations with a clear, simple chain of command from top to bottom |
| Line-And-Staff Organization | An organization with line managers forming the primary chain of authority in the company, and staff departments working alongside line departments |
| Management | Achieving the goals of an organization through planning, organizing, leading, and controlling organizational resources people, money, and time |
| Maslow's Theory of Needs | A motivation theory that suggests that human needs fall into a hierarchy and that as each need is met, people become motivated to meet the next-highest need in the pyramid |
| Matric Organizations | Organizations with a flexible structure that brings together specialists from different areas of the company to work on individual projects on a temporary basis |
| Middle Management | Managers who supervise lower-level managers and report to a higher-level manager |
| Mission | The definition of an organization’s purpose, values, and core goals, which provides the framework for all other plans |
| Operational Planning | Very specific, short-term planning that applies tactical plans to daily, weekly, and monthly operations |
| Organization Chart | A visual representation of the company’s formal structure |
| Organizing | Determining a structure for both individual jobs and the overall organization |
| Planning | Determining organizational goals and action plans for how to achieve those goals |
| Span of Control | Span of management; refers to the number of people a manager supervises |
| Staff Managers | Managers who supervise the functions that provide advice and assistance to the line departments |
| Strategic Goals | Concrete benchmarks that managers can use to measure performance in each key area of the organization |
| Strategic Planning | High-level, long-term planning that establishes a vision for the company, defines long-term objectives and priorities, determines broad action steps, and allocates resources |
| Strategies | Action plans that help the organization achieve its goals by forging the best fit between the firm and the environment |
| SWOT Analysis | A strategic planning tool that helps management evaluate an organization in terms of internal strengths and weakness, and external opportunities and threats |
| Tactical Planning | More specific, shorter-term planning that applies strategic plans to specific functional areas |
| Tactical Skills | Expertise in a specific functional area or department |
| Theory X and Theory Y | A motivation theory that suggests that management attitudes toward workers fall into two opposing categories based on management assumptions about worker capabilities and values |
| Top Management | Managers who set the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources |
| Affirmative Actions | Policies meant to increase employment and educational opportunities for historically marginalized groups—especially groups defined by race, ethnicity, or gender |
| Apprenticeships | Structured training programs that mandate that each beginner serve as an assistant to a fully trained worker before gaining full credentials to work in the field |
| Benefits | Noncash compensation, including programs such as health insurance, vacation, and childcare |
| Cafeteria-Style Benefits | An approach to employee benefits that gives all employees a set dollar amount that they must spend on company benefits, allocated however they wish within broad limitations |
| Civil Rights Act of 1964 | Federal legislation that prohibits discrimination in hiring, firing, compensation, apprenticeships, training, terms, conditions, or privileges of employment based on race, color, religion, sex, or national origin |
| Compensation | The combination of pay and benefits that employees receive in exchange for their work |
| Compressed Work Week | A version of flextime scheduling that allows employees to work a full-time number of hours in less than the standard workweek |
| Contingent Workers | Employees who do not expect regular, full-time jobs, including temporary full-time workers, independent contractors, and temporary agency or contract agency workers |
| Equal Employment Opportunity Commission | A federal agency designed to regulate and enforce the provisions of Title VII |
| External Recruitment | The process of seeking new employees from outside the firm |
| Flextime | A scheduling option that allows workers to choose when they start and finish their workdays, as long as they complete the required number of hours |
| Human Resource Management | The management function focused on maximizing the effectiveness of the workforce by recruiting world-class talent, promoting career development, and determining workforce strategies to boost organizational effectiveness |
| Internal Recruitment | The process of seeking employees who are currently within the firm to fill open positions |
| Job Analysis | The examination of specific tasks that are assigned to each position, independent of who might be holding the job at any specific time |
| Job Description | An explanation of the responsibilities for a specific position |
| Job Specification | The specific qualifications necessary to hold a particular position |
| Management Development | Programs to help current and potential executives develop the skills they need to move into leadership positions |
| On-The-Job Training | A training approach that requires employees to simply begin their jobs—sometimes guided by more experienced employees—and to learn as they go |
| Orientation | The first step in the training and development process, designed to introduce employees to the company culture and provide key administrative information |
| Performance Appraisal | A formal feedback process that requires managers to give their subordinates feedback on a one-to-one basis, typically by comparing actual results to expected results |
| Probationary Period | A specific time frame (typically three to six months) during which a new hire can prove their worth on the job before they become permanent |
| Salaries | The pay that employees receive over a fixed period, most often weekly or monthly |
| Sexual Harassments | Workplace discrimination against a person based on their gender |
| Structured Interviews | An interviewing approach that involves developing a list of questions beforehand and asking the same questions in the same order to each candidate |
| Title VII | A portion of the Civil Rights Act of 1964 that prohibits discrimination in hiring, hiring, compensation, apprenticeships, training, terms, conditions, or privileges of employment based on traits, for business's with 15 or more employees |
| Wages | The pay that employees receive in exchange for the number of hours or days that they work |
| Automation | Replacing human operation and control of machinery and equipment with some form of programmed control |
| Baldridge National Quality Program | A national program to encourage American firms to focus on quality improvement |
| Critical Path Method | A project-management tool that illustrates the relationships among all the activities involved in completing a project and identifies the sequence of activities likely to take the longest to complete |
| Critical Path | The sequence of activities in a project that is expected to take the longest to complete |
| Effectiveness | Using resources to create value by providing customers with goods and services that offer a better relationship between price and perceived benefits |
| Efficiency | Producing output or achieving a goal at the lowest cost |
| Goods | Tangible products |
| Immediate Predecessors | Activities in a project that must be completed before some other specified activity can begin |
| Inventory | Stocks of goods or other items held by organizations |
| Just in Time Production | A production system that emphasizes the production of goods to meet actual current demand, thus minimizing the need to hold inventories of finished goods and work in process at each stage of the supply chain |
| Lean Production | An approach to production that emphasizes the elimination of waste in all aspects of production processes |
| Offshoring | Moving production or support processes to foreign countries |
| Operations Management | Creating value by managing the activities that produce goods and services and then distributing them to customers |
| Outsourcing | Arranging for other organizations to perform supply chain functions that were previously performed internally |
| Process | A set of related activities that transform inputs into outputs, thus adding value |
| Robot | A reprogrammable machine that is capable of manipulating materials, tools, parts, and specialized devices in order to perform a variety of tasks |
| Services | Intangible products |
| Servicescape | The environment in which a customer and service provider interact |
| Six Sigma | An approach to quality improvement characterized by very ambitious quality goals, extensive training of employees, and a long-term commitment to working on quality-related issues |
| Total Quality Management | An approach to quality improvement that calls for everyone within an organization to take responsibility for improving quality and emphasizes the need for a long-term commitment to continuous improvement |
| Value Chain | The network of relationships that channels the flow of inputs, information, and financial resources through all of the processes directly or indirectly involved in producing goods and services and distributing them to customers |
| Vertical Integration | Performance of processes internally that were previously performed by other organizations in a supply chain |
| Angel Investors | Individuals who invest in start-up companies with high growth potential in exchange for a share of ownership |
| Business Plan | A formal document that describes a business concept, outlines core business objectives, and details strategies and timelines for achieving those objectives |
| Entrepreneurs | People who risk their time, money, and other resources to start and manage a business |
| External Locus of Control | A deep-seated sense that forces other than the individual are responsible for what happens in their life |
| Internal Locus of Control | A deep-seated sense that the individual is personally responsible for what happens in their life |
| Market Niche | A small segment of a market with fewer competitors than the market as a whole. Market niches tend to be quite attractive to small firms |
| SCORE | An organization—affiliated with the Small Business Administration—that provides free, comprehensive business counseling for small business owners from qualified volunteers |
| Small Business Administration | An agency of the federal government designed to maintain and strengthen the nation’s economy by aiding, counseling, assisting, and protecting the interests of small businesses |
| Small Business Development Centers | Local offices—affiliated with the Small Business Administration—that provide comprehensive management assistance to current and prospective small business owners |
| Venture Capital Firms | Companies that invest in start-up businesses with high growth potential in exchange for a share of ownership |
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Faith64
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