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27 Cards in this Set

  • Front
  • Back
Planning
the function of a manager involving analyzing information, setting goals, and making decisions about what needs to be done.
Organization and Job Design
create the fundamental structure for the business in order to assure quality in performance. Manager also decides the task of each employee according to their potential and personal record.
Recruiting and Hiring
Picking up and hiring staff: to teach and train each individual employee and appoint them to their task
Compensation and Benefits
The way that a manager decides to compensate or reward an individual or group of employees according to their task in their business.
Performance Management
Activities used to ensure that goals are consistently being met in an effective and efficient manner
Legal Compliance
Process and procedures to ensure that the organization follows relevant laws and regulations.
Employee Relations
Communications between management and employees concerning the workplace, decisions, grievance, and conflicts
Health, Safety, and Security
Organized efforts to identify the hazards in the workplace and reducing accidents and exposure to harmful substances.
Training and Development
The field which is concerned with organizing and developing better ways to better performance and quality in the workplace.
Policies and Procedures
The laws and regulation, principles and protocol created in order to guide and lead to a good outcome.
Five Functions of Management
Planning: create a foundation in order to set up the work place and know how, who and when to complete task
Organizing: make arrangements or preparations for the business
Staffing: training, hiring, and giving each individual employee a task to complete.
Implementing: Is the realization or action of directing certain rules
Controlling: determined behavior to supervise and run a business or company
Top Level of Management
The highest ranking executive title given to the highest managing director(s)
Mid Level of Management
The next level of managing, under the executive power and is the next level of power
Supervisor
Producers
produce products for sale purposes
Service Businesses
Businesses that produce services that people need done(i.e. Contractor, etc.)
Intermediary
A business that works between two other businesses.
Sole Proprietorship
A business owned by a single person.
Limited Liability Partnership
Company owned multiple people but the people are only reliable for their actions
General
A Company where the company is owned by 2 or more people
Dormant
Also considered an investor, they own part of the company but choose not to be a part of its management, but is still in the face of the company.
Silent
Also an investor without any actions but less in the "spotlight"
Secret
A business owner who is involved but not displayed in the main management of the organization
Limited
Not active in the business and known to the public
Cooperative
Formed by a group of individuals or businesses to serve their needs in order to gain bargaining power against bigger businesses
Joint Venture
A unique business organized by two or more other businesses to operate for a limited time and for a specific project
Limited Liability Corporation
Form of business ownership that provides liability protection for owners.
Subchapter/S Corporation
treats partners as individuals by taxing them once