Intro To Business - Chapter 7

Front 1

Management

Back 1

The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

Front 2

Planning

Back 2

A management function that includes anticipating trends and determining the best strategies an tactics to achieve organizational goals and objectives.

Front 3

Organizing

Back 3

A management function that includes designing the structure of the organization and creating conditions and system in which everyone and everything work together to achieve the organization's goals and objectives.

Front 4

Leading

Back 4

Creating a vision of the organization and guiding training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.

Front 5

Controlling

Back 5

A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.

Front 6

Vision

Back 6

An encompassing explanation of why the organization exists and where it's trying to head.

Front 7

Mission Statement

Back 7

An outline of the fundamental purposes of an organization.

Front 8

Goals

Back 8

The broad, long-term accomplishments an organization wishes to attain.

Front 9

Objectives

Back 9

Specific, short-term statement detailing how to achieve the organization's goals.

Front 10

SWOT Analysis

Back 10

A planning tool used to analyze an organization's strength's, weaknesses, opportunities, and threats.

Front 11

Strategic Planning

Back 11

The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.

Front 12

Tactical Planning

Back 12

The process of setting work standards an schedules necessary to implement the company's tactical objectives.

Front 13

Contingency Planning

Back 13

The process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives.

Front 14

Decision Making

Back 14

Choosing among two or more alternatives.

Front 15

Problem Solving

Back 15

The process of solving the everyday problems that occur. This is less formal than decision making and usually calls for quicker action.

Front 16

Brainstorming

Back 16

Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.

Front 17

PMI

Back 17

Listing all of the pluses for a solution in one column, all the minuses in another, and the implications in a third column.

Front 18

Top Management

Back 18

The highest level of management, consisting of the president and other key company executives who develop strategic plans.

Front 19

Middle Management

Back 19

The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.

Front 20

Supervisory Management

Back 20

Managers who are directly responsible for supervising workers and evaluating their daily performance.

Front 21

Technical Skills

Back 21

Skills that involve the ability to perform tasks in a specific discipline or department.

Front 22

Human Relation Skills

Back 22

Skills that involve communication and motivation; they enable managers to work through and with people.

Front 23

Conceptual Skills

Back 23

Skills that involve the ability to picture the organization as a whole and the relationships among its various parts.

Front 24

Staffing

Back 24

A management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.

Front 25

Transparency

Back 25

The presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders.

Front 26

Autocratic Leadership

Back 26

Leadership style that involves making managerial decisions without consulting others.

Front 27

Participative (democratic) Leadership

Back 27

Leadership style that consists of managers and employees working together to make decisions.

Front 28

Free-Rein Leadership

Back 28

Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.

Front 29

Enabling

Back 29

Giving workers the education and tools they need to make decisions.

Front 30

Knowledge Management

Back 30

Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.

Front 31

External Customers

Back 31

Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

Front 32

Internal Customers

Back 32

Individuals and units within the firm that receive services from other individuals or units.