Fundamentals Of Business

Front 1

Tactical Plan

Back 1

Sub-points to accomplish the strategic plan

Front 2

Top level Management

Back 2

CEO, CFO, CPO, COO, CTO, President

Front 3

Middle level management

Back 3

Regional-Management

Front 4

First-line management

Back 4

Hourly-employees, 'blue-collar workers'

Front 5

How does an organization acquire good managers?

Back 5

-Promoting within
-New college-graduates
-Taking from other successful organizations

Front 6

Forms of Organizational Structures

Back 6

-Line
-Line to Staff
-Multi-Divisional
-Matrix-Structures

Front 7

What is morale?

Back 7

How you feel about being somewhere (attitude about your job.)

Front 8

The classical theory of motivation:

Back 8

$ motivates, and atmosphere

Front 9

theory-X Management

Back 9

blue collar workers need constant-'over the shoulder' management

Front 10

Theory-Y management

Back 10

for people who enjoy working when in a job they enjoy and in a healthy environment, for appropriate pay

Front 11

Theory-Z management

Back 11

for self-motivated employees, who can work on their own-and motivate themselves to get work done efficiently and effectively

Front 12

Strategies for motivating employees

Back 12

-Bonuses
-Employee competitions
-Teams
-Behavior modifications: job design/job rotation

Front 13

Define: The nature of accounting

Back 13

"Recording, measuring, and interpretation of financial information".

Front 14

Name the 3-financial statements:

Back 14

-income statement
-balance sheet
-cash flow statement

Front 15

Double-Book entry

Back 15

Keeping 2 books ($) & making sure both equate at the end of a financial period

Front 16

Gross Income:

Back 16

GI=Net - Cogs (or G.P.)

Front 17

Current Assets

Back 17

short and long-term assets, listed in accounts receivable (put into the balance sheet)

Front 18

Accrued Expenses

Back 18

money owed that hasn't been paid yet

Front 19

Ratios:

Back 19

-Liquidity
-Profitability
-Profit Margin
-R.O.I.

Front 20

Title VII of the Civil Rights Act of 1964

Back 20

Equal opportunity (for all genders and races)

Front 21

Assessing Performance

Back 21

Performance evaluations

Front 22

Affirmative action program

Back 22

Equal employment (count-wise) of races and genders

Front 23

Strategic Plan

Back 23

Plans that establish long-range objectives and overall strategy or course of action by-which a firm will fulfill its mission

Front 24

Operational Plans

Back 24

Very-short term plans that specify what actions individuals, work groups, or departments need to work on and accomplish in-order to achieve tactical plans; ultimately the strategic plan

Front 25

Specialization

Back 25

division of labor into small, specific tasks and the assignment of employees to do a single task

Front 26

Conceptual Skills

Back 26

Ability to think in abstract terms (to see how 'parts' fit together as a whole)

Front 27

Analytical Skills

Back 27

ability to identify relevant issues, recognize their importance, understand the relationship between them and perceive the underlying causes of the situation.

Front 28

Decision making process

Back 28

recognize and define the situation, develop options, analyze options, select the best option, implement the decision, monitor the consequences.

Front 29

Organizational Structure

Back 29

arrangement or relationship of positions within an organization

Front 30

Departmentalization

Back 30

grouping of jobs into working units usually called 'departments,' units, groups or devisions

Front 31

Functional Departmentalization

Back 31

grouping of jobs that perform similar functional activities, such as finance, manufacturing, marketing, and human resources

Front 32

Product Departmentalization

Back 32

organizes jobs around the product(s) of the company

Front 33

Geographical Departmentalization

Back 33

groups jobs according to geographical locations of a firms many branches (four-regional divisions, or multi-national divisions.)

Front 34

Customer Departmentalization

Back 34

arranges jobs around the needs of various types of consumers

Front 35

Centralized organizations

Back 35

top-concentrated authority

Front 36

Decentralized Organizations

Back 36

decision-making authority is delegated as far down the chain of command as possible

Front 37

Span of management

Back 37

number of subordinates who report to a particular manager

Front 38

Wide-Span management

Back 38

one manager supervising a very large number of employees

Front 39

Narrow-Span management

Back 39

a manager only-directly supervises a few-subordinates

Front 40

Organizational Layers

Back 40

levels of management in an organization

Front 41

Line-Structure

Back 41

direct lines of authority that extend from top manager to the lowest level of the organization

Front 42

Line-and-staff structure

Back 42

traditional line relationship between superiors and subordinates and also specialized managers (staff managers who are available to assist line managers.)

Front 43

Matrix Structure

Back 43

structure that sets up teams from different departments, thereby creating two or more intersecting lines of authority; (also called project-management structure.)

Front 44

Group vs: Team

Back 44

Group: people communicating with one another, share a common identity and have common goals
Team: small group who's members have complementary skills; common purpose, goals, and approach; holding themselves mutually accountable

Front 45

Equity Theory

Back 45

An assumption that how much people are willing to contribute to an organization depends on their assessment of fairness, or equity or the rewards they will receive in exchange

Front 46

Herzberg's Two-Factor motivation theory

Back 46

motivators and 'hygiene factors'