Business Final

Front 1

Management

Back 1

Achieving the goals of an organization

Front 2

Planning

Back 2

Determining organization goals and action plans for achieving those goals

Front 3

Organizing

Back 3

Determining a structure for individual jobs and overall organization

Front 4

Leading

Back 4

Directing and motivating people to achieve organizational goals

Front 5

Strategic Planning

Back 5

Establishes a vision for the company by:

- determining broad action steps

- defining long term objects and priorities

- allocating resources

Front 6

Tactical planning

Back 6

Applies strategic plans to specific functional areas

Front 7

Operational planning

Back 7

Applies tactical plans to daily/weekly/monthly operations

Front 8

Contingency planning

Back 8

For unexpected events, involving a range of scenarios and assumptions that differ from the assumptions behind the core plans

Front 9

Mission

Back 9

Definition of organizations purpose, values, and core goals.

Front 10

SWOT Analysis

Back 10

Helps management evaluate an organization in terms of internal strengths and weaknesses and external opportunities and threats

Front 11

Strategic goals

Back 11

Benchmarks that managers use to measure performances in key areas

Front 12

Organization chart

Back 12

Visual representation of company's formal structure

Front 13

Degree of Consideration

Back 13

Extent to which decision-making power is held by a small number of people at the top of an organization

Front 14

Span of Control

Back 14

Number of people a manager supervises

Front 15

Job Analysis

Back 15

Examination of specific tasks that are assigned to each position

Front 16

Job Description

Back 16

Explanation of responsibilities for specific position

Front 17

Job Specification

Back 17

Specific qualification necessary to hold a particular position

Front 18

Internal Recruitment

Back 18

Seeking employees who are currently within the firm to fill open positions

Front 19

External Recruitment

Back 19

Seeking new employees from outside the firm

Front 20

Structured Interviews

Back 20

Developing a list of questions beforehand and asking the same questions in the same order to each candidate

Front 21

Orientation

Back 21

Introduces employees to company culture and provides administrative information

Front 22

On-the-job training

Back 22

Requires employees to begin their jobs and learn as they go

Front 23

Apprenticeship

Back 23

Beginner serves as an assistant to a fully trained worker before gaining full credentials to work in the field

Front 24

Off-the-job training

Back 24

Classroom training away from the job during work hours

Front 25

Management/Leadership development

Back 25

Help current and potential executives develop the skills required to move in the leadership positions

Front 26

Performance Appraisal

Back 26

Formal feedback process that requires managers to give subordinates feedback on 1 to 1 basis

Front 27

Compensation

Back 27

Combination of pay and benefits that employees receive in exchange for their work

Front 28

Benefits

Back 28

Non-cash compensation

Front 29

Cafeteria Style

Back 29

Gives employees a set dollar amount they're required to spend on company benefits

Front 30

Wages

Back 30

Employees receive in exchange for the number of hours or days that they work

Front 31

Salaries

Back 31

Employees receive over a fixed period

Front 32

Flextime

Back 32

Scheduling option that allows workers to choose when they start and finish their workdays, but complete the required hours

Front 33

Telecommunication

Back 33

Working remotely and connecting the office via phone lines, fax machines, or broadband networks

Front 34

Job Sharing

Back 34

Allows 2 or more employees to share a single full time job

Front 35

Hardware

Back 35

Physical tools and equipment used to collect, input, store, organize, and process data to distribute information

Front 36

Software

Back 36

Programs that provide instructions to a computer

Front 37

System Software

Back 37

Performs critical functions necessary to operate the computer at basic level

Front 38

Applications Software

Back 38

Helps the user to perform a desired task

Front 39

Internet 2

Back 39

High-tech internet with access limited to a consortium of member organizations

Front 40

Intranet

Back 40

Private network navigated using a web browser, which limits access to a single member

Front 41

Extranet

Back 41

Intranet that allows limited access to a selected group of stakeholders

Front 42

Databases

Back 42

File consisting of related data organized according to a logical system and stored on a hard drive

Front 43

DSS

Back 43

Gives managers access to data and processing power to convert data into high-quality information

Front 44

Expert System (ES)

Back 44

Helps managers make better decisions in areas where they lack expertise

Front 45

Web 2.0

Back 45

Enhances users experience by incorporating interactive and collaborative features in a website

Front 46

Viral Marketing

Back 46

Uses activities that help promote the products by involving customers and others

Front 47

Cybermediary

Back 47

Internet-based firm that specializes in the secure electronic transfer of funds

Front 48

E-Marketplace

Back 48

Internet site to conduct B2B business where buyers and sellers interact

Front 49

Radio Frequency Identification (RFID)

Back 49

Store information on small microchips that can transmit the information when they are with the range of a special reader

Front 50

Malware

Back 50

Malicious software

Front 51

Spyware

Back 51

Tracks users behavior

Front 52

Worms

Back 52

Spreads without being attached to files

Front 53

Spam

Back 53

Unsolicited email advertisement

Front 54

Phishing

Back 54

Official looking emails attempt to divulge private information

Front 55

Pharming

Back 55

Steals identity through fake website

Front 56

Hacker

Back 56

Skilled computer users gaining unauthorized access with malicious intent

Front 57

Efficiency

Back 57

Producing output or achieving a goal at the lowest cost

Front 58

Effectiveness

Back 58

Using resources to create value by providing customers with better goods and services

Front 59

Inventories

Back 59

Stocks of goods held by organizations

Front 60

Critical Path Method (CPM)

Back 60

Illustrates the relationships among the activities and identities sequence of activities

Front 61

Immediate Predecessors

Back 61

Activities that are required to be completed before the other activity can initiate

Front 62

Value Chain

Back 62

Channels flow of inputs, information, and financial resources through all the processes

Front 63

Enterprise Resource Planning (ERP)

Back 63

Software-based approach to integrate an organizations information flows

Front 64

Automation

Back 64

Replacing human operation ad control of machinery and equipment with some form of programmed control

Front 65

Robot

Back 65

Re-programmable machine capable of manipulate materials, tools, parts, and specialized devices to perform tasks

Front 66

Computer-aided design (CAD)

Back 66

Drawing and drafting software that enables users to create and edit blueprints and design drawings quickly and easily

Front 67

Computer-aided engineering (CAE)

Back 67

Enables users to test, analyze, and optimize their designs

Front 68

Computer-aided manufacturing (CAM)

Back 68

Takes the electronic design for a product and creates the programmed instructions that robots must follow to produce that product as efficiently as possible

Front 69

Total Quality Management (TQM)

Back 69

Calls everyone within an organization to take responsibility for improving quality

Front 70

Six Sigma

Back 70

Characterized by:

- quality goods

- extensive training of employees

- long-term commitment to working on quality related issues

Front 71

Lean production

Back 71

Emphasizes the elimination of waste in all aspects of production processes

Front 72

Poka-yoke

Back 72

A term that means "mistake proofing".