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17 Cards in this Set

  • Front
  • Back
The process of working with or through others to achieve an individual or business goal by efficiently and effectively using resources.
The five basic functions of a manager.
Planning, organizing, staffing, directing, and controlling operations.
A systematic process that takes us from some current state to some future desired state; involves the setting of goals and the development of methods for achieving those goals.
The development of long-term plans for a business; establishing overall company priorities.
Strategic Planning
Related to specific functional areas such as accounting, marketing, or human resources; support and are driven by the strategic plan.
Functional Plans
The gathering of all of a firm's monetary requirements for the support of each functional plan.
Financial Planning
The precusor to establishing a plan.
Goal Setting
A measurable objective that can be reached in a specified time frame.
1) Must be measurable, 2) Must be acheivable, and 3) Must have a time frame connected to them
The 3 characteristics of a goal
The three basic financial goals required by a for-profit organization.
Maximize the welath of the business owners (investors) over the life of the business, to meet interest payments on debt, and to grow
Developing a structure that will allow the owners to carry out their plans.
Obtaining the most capable ersonnel to implement the business plans.
What a job requires with respect to education, training, and basic skills.
Job Requirements
Depicts the duties that must be performed by the employee who will be hired.
Job Description
Providing proper guidance and direction to others who will accomplish the organization's mission.
Next to planning, this is the most difficult process to undertake. A three-step process that involves establishing a standard of measurement, measuring actual performance against the standard, and taking corrective action when actual performance varies from the established standard.
The part of a business plan that investors will read first, inspiring them to read further; usually one to two pages maximum.
Executive Summary