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#1 Management Terms

TERMS TO KNOW FOR TEST 9/22 !!!

QuestionAnswer
SMART WORKFORCE Employees who are knowledgeable, skilled, adaptable, and able to use technology
FOUR FUNCTIONS OF MANAGEMENT Planning, Learning, Organizing, Controlling (PLOC)
LEVELS OF MANAGERS Top Management, Middle Management, First-Line Management
CONCEPTUAL SKILLS Understanding how the different parts work together & seeing the bigger picture
TECHNICAL SKILLS Knowing how to perform certain tasks and jobs
HUMAN/INTERPERSONAL SKILLS Working effectively with others
LINDA HILL VIDEO Leadership today is less about getting people to follow you in the future and more about getting them to cocreate with you
STAKEHOLDERS Anyone affected by the organization (Employees, customers, supplies, community, owners/shareholders)
SHAREHOLDERS People who own shares/stock in the company
3 P'S OF ORGANIZATIONAL PERFORMANCE People, Planet, Profit
VALUES Broad beliefs about what is appropriate behavior
TERMINAL Preferences about desired end states or life goals
INSTRUMENTAL Preferences about the means to accomplishing desired ends
UTILITARIANISM Choosing the action that creates the greatest good for the greatest number of people
INDIVIDUALISM What benefits the individual and their personal interests
JUSTICE Fairness, equality, and treating people equally
MORAL RIGHTS Protecting people’s basic rights and freedoms
CLASSIC CSR Perspective on corporate social responsibility
SOCIOECONOMIC CSR Perspective on corporate social responsibility
SHARED VIEW CSR Perspective on corporate social responsibility
GENERAL ENVIRONMENT Broad environment surrounding an organization
TASK ENVIRONMENT Environment directly related to an organization
ENVIRONMENTAL CAPITAL Concept related to an organization's environment and sustainability
6 TYPES OF INNOVATION Product, process, business model, social, reverse, disruptive. The main examples we discussed are reverse and disruptive
HAMEL'S WHEEL OF INNOVATION Imagining, Designing, Experimenting, Assessing, Scaling
LICENSING Allowing another company to use your intellectual property
FRANCHISING Allowing another party to use your business model and brand
JOINT VENTURE Two or more companies sharing ownership of a business venture
FOREIGN SUBSIDIARY A company-owned operation located in another country
CHANGING NATURE OF ORGANIZATIONS Valuing human capital and moving away from “command and control.”
DISRUPTIVE INNOVATION Products/services become widely used and replace prior practices and competitors
REVERSE INNOVATION Innovation launched from lower organizational levels and diverse locations, including emerging markets
ENVIRONMENTAL CAPITAL Protecting our supply of natural resources
Created by: lola.dumler
 

 



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