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1.05 vocabulary
business management
| Term | Definition |
|---|---|
| Authority | the formally granted influence of an individual to make decisions, purse goals, and obtain the resources necessary to support those decisions and goals |
| Chain of command | the flow of authority within an organization; also called line of command |
| Communication | An exchange of information in which the words and gestures are understood in the same way by both the speaker and the listener |
| Delegation | Assigning tasks to subordinates |
| Division of labor | Dividing a large job unit, or job tasks, and assigning an individual to do each of the task |
| Divisional structure | An organizational design in which the firm is broken down into units according to factors such as product, process, territory, customer type, etc |
| Functional structure | An organizational design in which the firm is broken into traditional departments, each with its own set of responsivities and activities |
| Innovation | The creation or discovery of something new, such as a new product, strategy, or process |
| Job specialization | Becoming an expert in a specific work task |
| Lateral realtions | The amount of teamwork include in an organizational design |
| Lateral authority | Formal, direct authority that affects a business's dat to day operations |
| Line of command | See chain of command |
| Matrix structure | An organizational design that combines the traditional functional structure with the divisional structure |
| Objectives | Goals to be reached |
| Organizational chart | A graphical representation of the flow of authority within an organization |
| Organizational design | The process of structuring a business's people, information, and technology to enable the business to achieve its goal and to be successful; also called organizational structure |
| Organizational structure | See organizational design |
| Product manager | An individual who monitors one or more existing products and develops new hour |
| Productivity | The amount of work employees perform in a given period, usually their output per hour |
| Responsibility | The duty to get a job done |
| Scalar principle | Creating authority that flows in a clear |
| Span of control | The measurements of how many workers are supervised by one manger |
| Staff authority | Advisory authority, often without the ability to enforce or take action |
| Unity of command | A principle that states that no employee should answer to more than one supervisor at a time |
Created by:
daniysha.h359
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