Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
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
|