Principles Of Management Test 2

Front 1

Entrepreneurship

Back 1

The pursuit of lucrative opportunities by enterprising individuals. Discovering, evaluating, and capitalizing opportunities to create new and future goods and services.

Front 2

Small Business

Back 2

A business having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices.

Front 3

Entrepreneur

Back 3

Individuals who establish a new organization without the benefit of corporate sponsorship.

Front 4

Intrapreneurs

Back 4

New-venture creators working inside big companies.

Front 5

Franchisor

Back 5

An innovator who has created at least one successful store and wants to grow

Front 6

Franchisee

Back 6

A partner who manages a new store of the same type in a new location

Front 7

Social entrepreneurship

Back 7

Leveraging resources to address social problems. Example: bank program in South Asia helping women to get micro loans and setting them up with project.

Front 8

What does it take to be Entrepreneur

Back 8

Tolerance of risk, ambiguity and uncertainty

Front 9

Business Incubators

Back 9

Protected environments for new, small businesses

Front 10

Initial public offering (IPO)

Back 10

Sale to the public, for the first time, of federally registered and underwritten shares of stock in the company

Front 11

Business Plan

Back 11

A formal planning step that focuses on the entire venture and describes all the elements involved in starting it.

Front 12

Organic Structure

Back 12

An organizational form that emphasizes flexibility

Front 13

Step to Organic Structure

Back 13

Job holders rely more heavily on judgement than on rules

Front 14

Strategic Alliance

Back 14

A formal relationship created among independent organization's with the purpose of joint pursuit of mutual goals.

Front 15

Downsizing

Back 15

The planned elimination of positions or jobs

Front 16

Survivors syndrome

Back 16

Loss of productivity and morale in employees who remain after a downsizing.

Front 17

Customer relationship management

Back 17

A multifaceted process focusing on creating two way exchanges with customers to foster intimate knowledge of their needs, wants, and buying patterns

Front 18

Reengineering

Back 18

Revolutionizing key organizational systems and processes to answer the questions: "if you were the customer, how would you like us to operate?"

Front 19

Organization chart

Back 19

The reporting structure and division of labor in an organization

Front 20

Authority

Back 20

The legitimate right to make decisions and to tell other people what to do

Front 21

Board of directors

Back 21

Three major duties: select, access, reward and replace the CEO

Front 22

Span of control

Back 22

The number of subordinates who report directly to an end executive or supervisor

Front 23

Delegation

Back 23

The assignment of new or additional responsibilities to a subordinate

Front 24

Advantages of Delegation

Back 24

Helps develop effective subordinates

Front 25

Functional Organization

Back 25

Departmentalization around specialized activities such as production, marketing and HR

Front 26

Divisional Organization

Back 26

Departmentalization that groups units around products, customers or geographic regions

Front 27

Human Resource Management

Back 27

Formal systems for the management of people within an organization

Front 28

Human Resource Management

Back 28

Formal systems for the management of people within an organization

Front 29

Human Capital

Back 29

The knowledge skills, and abilities of employees that have economic value

Front 30

The planning Process

Back 30

Planning, programming and evaluating

Front 31

Recruitment

Back 31

The development of a pool of applicants for jobs in an organization

Front 32

Recruitment

Back 32

The development of a pool of applicants for jobs in an organization

Front 33

Selection

Back 33

Builds on recruiting and involved decisions about who I am going to hire

Front 34

Structured Interview

Back 34

Selection technique that involves asking all applicants the same questions and comparing their responses to a standardized set of answers

Front 35

Assessment Center

Back 35

A managerial performance test in which candidates participate in a variety of exercises and situations

Front 36

Outplacement

Back 36

The process of helping people who have been dismissed from the company regain employment elsewhere

Front 37

Employment at Will

Back 37

The legal concept that an employee may be terminated for any reason

Front 38

Advice on Termination

Back 38

Be sure the person terminating the employee is the employees direct supervisor

Front 39

Fair labor standards act

Back 39

Creates exempt and no exempt employee categories, governing overtime and other rules

Front 40

Training

Back 40

Teaching lower-level employees how to perform their present jobs

Front 41

Orientation training

Back 41

Training designed to introduce new employees the company and familiarize them with policies, procedures, culture and the like

Front 42

Orientation training

Back 42

Training designed to introduce new employees the company and familiarize them with policies, procedures, culture and the like

Front 43

Team Training

Back 43

Training that provides employees wth the skills and perspectives they need to collaborate with others

Front 44

Diversity Training

Back 44

Programs that focus on identifying and reducing hidden biases against people with differences and developing the skills needed to manage a diversified workforce

Front 45

Management by Objectives

Back 45

A process in which objectives set by a subordinate and a supervisor must be reached with a given time period

Front 46

3 basic required benefits

Back 46

Workers comp, social security, unemployment insurance

Front 47

Diversity

Back 47

Differences that include religious affiliation, age, disability status, military experience, sexual orientation, economic class, educational level, lifestyle, gender, race, and nationality

Front 48

Managing Diversity

Back 48

Not just tolerating or accommodating all sorts of differences, but supporting, nuturing, and utlizing these differences to the organIzations advantage

Front 49

Glass Ceiling

Back 49

An invisible barrier that makes it difficult for women and minorities to move beyond a certain level in the corporate hierarchy

Front 50

Sexual Harassment

Back 50

Conduct of sexual nature that has negative consequences for employment