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1.02 Key Terms

Concept of Management

QuestionAnswer
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 the sources 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 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 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 businesses 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 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 for a business unit
The
Created by: estefany.f158
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