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Objective 1.04
Business Management 1
| Term | Definition |
|---|---|
| Authority | The formally granted influence of an individual to make decisions, pursue goals, and obtain the resources necessary to support those decisions and goals |
| Chain of command | The flow of authority within an organization |
| Departmentalization | The way departments are defined and arranged |
| Division of labor | The process of dividing a large into units, or job tasks, and assigning and 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 responsibilities and activities |
| Matrix structure | An organizational design that combines the traditional functional with divisional structure |
| Organizational chart | A graphical representation of the flow of authority within the organization |
| Organizational structure | The company's configuration of employees for accomplishing specific business tasks; how the business is organized |
| Organizing | The management function of setting up the way the businesses work will be done. |
| Scalar principle | Creating authority that flows in a clear, continuous line |
| Specialization | An employees narrow focus on one task or area of expertise |
| Unity of command | A principle that states that no employee should answer to more than one supervisor at a time |
Created by:
alexander.s132
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