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buessness management

buisness

QuestionAnswer
Policy is a predetermined course of action which is established to provide a guide toward accepted business strategies and objectives.
Procedure is to provide the reader with a clear and easily understood plan of action required to carry out or implement a policy.
Management the process of accomplishing the goals of an organization through the effective use of people and other resources
Planning determine objectives in advance and the methods to achieve them
Organizing establish a structure of authority for all work
Staffing recruit, hire and train workers; maintain favorable working conditions
Directing make decisions, issue orders and directives
Coordinating interrelate all sectors of the organization
Interpersonal This role involves human interaction
Informational This role involves the sharing and analyzing of information.
Decisional This role involves decision making
Natural resources are raw materials produced by nature.
Human resources are the people who contribute physical and mental energy to the production process.
Capital resources are the tools, equipment, and buildings that are used to produce goods and services.
Top Level of Management It consists of board of directors, chief executive or managing director
Middle Level of Management The branch managers and departmental managers constitute middle level. They are responsible to the top management for the functioning of their department
Lower Level of Management also known as supervisory / operative level of management. It consists of supervisors, foreman, section officers, superintendent etc
Plan is a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions
Goal a desired future state that the organization attempts to realize
Planning incorporates both ideas: It means determining the organization's goals and defining the means for achieving them
Planning Process Establishment of objectives, Establishment of Planning Premises, Choice of alternative course of action, Formulation of derivative plans, Securing Co-operation,and Follow up/Appraisal of plans
Managerial Planning It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.
Ethics refers to standards of moral conduct that individuals and groups set for themselves, defining what behavior they value as right or wrong.
Respect esteem for or a sense of the worth or excellence of a person, a personal quality or ability, or something considered as a manifestation of a personal quality or ability
Code of Conduct can also act as a way of presenting an organization's or company's philosophy or ethical approach to the world
Business Letter is a form of communication used to convey a formal message to one or more parties.
Letter of Application introduces the job applicant
Organizing To make thing more easy to find
New Employee Orientation is the process you use for welcoming a new employee into your organization
Division of Labor is the specialisation of cooperative labour in specific, circumscribed tasks and like roles
Retention the ability to retain facts and figures in memory
Performance Standard the standard of preformence
Organizational Goal desired states of affairs or preferred results that organizations attempt to realize and achieve
Official/strategic Goal formally stated goals of a organization descripted in its chapter and annual reports
Tactical/Operative Goal the outcomes that the organizational acctually seeks to attain through its opperating polices and activites
Operational Goal preformence objectives and described behaviors within an organization
Economic Goal goals for the economy
Cultural Goal goals for the cultrual aspect of buisness
Order Goal goals for the order
Product Goal characteristics of the goods or serveces like quality, styling, uniqueness, variety and price
Consumer Goal goals for the consumer of the buisness
Mission is a brief description of a company's fundamental purpose.
Objective Business objectives are the stated, measurable targets of how to achieve business goals
Interdependent jobs relating to two or more people or things dependent on each other
Knowledge information an intangible combination of human experiences, values, and understandings that provide structure for interpreting and reacting to new experiences
Information organized facts or data that can be easily identified, distributed, and managed
Tacit knowledge knowledge that is known by an individual but is difficult to transfer to others either verbally or in writing
Explicit knowledge knowledge that can be easily communicated to others an/or captured and stored in some type of document or database
Knowledge management the process of creating, identifying, organizing, sharing, and using knowledge sources for the benefit of the organization
Information management the process of accessing, processing, maintaining, evaluating, and disseminating facts or data for the purpose of assisting business decision-making.
Intellectual capital refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce
Trade secrets any confidential business information which provides an enterprise a competitive edge
Inevitable disclosure is a legal doctrine through which an employer can use trade secret law to enjoin a former employee from working in a job that would inevitably result in the disclosure and use of the employer's trade secrets.
Non-compete agreement an employee promises not to work for a direct competitor for a specified period of time after he leaves the company
Knowledge harvesting capturing and transferring vital scientific, engineering, technical, and business insights and complex cognitive processes
Communities of practice people who share a craft and/or a profession
Knowledge codification means converting tacit knowledge to explicit knowledge
Internship a professinal teaching you how to do yu job and what to do in the job
Peer team a team of peers
Job shadow a program for students to find out what it is like to be in a specific profession
Mentor someone showing you how to do your job and guiding you though the proccess
Knowledge Mapping An ongoing joint quest to help discover the constraints, assumptions, location, ownership, value and use of knowledge assets, artifacts, people and their expertise.
Relational Databases is a database that conforms to relational model theory
Accountability Matrix Table used in project management to ensure that every project element is properly assigned
Intranet is a computer network that uses Internet Protocol technology to securely share any part of an organization's information or network operating system within that organization
Inquiry A question
Purchasing buying something from a buisness
Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply
Quality Control is a process by which entities review the quality of all factors involved in production
Logistics is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers or corporations
Operations are those ongoing recurring (cyclic) activities involved in the running of a business for the purpose of producing value for the stakeholders
Electronic Data Interchange It is used to transfer electronic documents or business data from one computer system to another computer system, i.e. from one trading partner to another trading partner without human intervention
Flexible Manufacturing System is a manufacturing system in which there is some amount of flexibility that allows the system to react in the case of changes, whether predicted or unpredicted
Computer-Aided Manufacturing is the use of computer software to control machine tools and related machinery in the manufacturing of workpieces
Material Requirements Planning is a production planning and inventory control system used to manage manufacturing processes
Enterprise Resource Planning systems integrate internal and external management info across a organization, embracing finance/accounting, manufacturing, sales and service, ERP systems automate this activity with an integrated software application
Product planning is the ongoing process of identifying and articulating market requirements that define a product's feature set
Procurement is the acquisition of goods or services
Technical Data Management Systems is essentially a Document management system (DMS) pertaining to the management of technical and engineering drawings and documents
Purchase Order document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer
Sealed Bid Document enclosed in a sealed envelope and submitted in response to invitation-to-bid
Dutch auctions is a type of auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the price
Reverse auctions type of auction in which the roles of buyers and sellers are reversed
Vendor or a supplier, is a supply chain management term meaning anyone who provides goods or services to a company
Commitment commiting to a compeny or buisness
Compartmentalization is the act of splitting an idea or concept up into parts, and trying to enforce thought processes which are inhibiting attempts to allow these parts to mix together again
Employee benefits benifts that employees recive when they work for a buisness
Employee relations the relationsships between employees
Compensation reciving pay when youre sick or injured
Staffing the act of recrutting, hiring, training and staffing a buisness
Created by: cockman
 

 



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