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106 Cards in this Set
- Front
- Back
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Entrepreneurship |
the process by which enterprising individuals initiate manage and assume the risk and rewards associated with a business venture |
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Small business |
A business having fewer than a 100 employees, independently owned and operated not dominant in its field and not characterized by many innovative practices |
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Entrepenuerial venture |
I new business having growth and high profitability as primary objectives |
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entrepreneur |
an individual who establishes a new organization without the benefit or corporate sponsorship |
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intrapreneur |
New venture creators working inside big companies |
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technological discoveries |
Startups in biotechnology microcomputers and nanotechnology followed technological advances |
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demographic changes |
as the population ages many organizations have sprung up to serve the older demographic from specially designed tablet and smartphone apps for seniors to assisted living facilities |
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lifestyle and taste changes |
in recent years more consumers want to help take care of the environment and more businesses are concerned about showing consumers that they care to |
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franchising |
In entreprenuerial alliance between a franchisor (an innovator who has created at least one successful Store and wants to grow )and a franchisee (a partner who manages a new Store of the same type in a new location) |
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transaction fee model |
Urging fees for goods and services amazon.com and online travel agencies are prime examples |
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Advertising support model |
Charging fees to advertise on site |
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Intermediary MOdel |
Charging fees to bring buyers and sellers together |
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Affiliate Model |
Charging fees to direct site visitors to other companies' sites |
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Subscription model |
Charging fees for site visits |
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Side Street Effect |
As you head down a road, unexpected opportunities begin to appear |
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Business Incubators |
Protected environments for new small businesses |
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Initial public offering (IPO) |
Sale to the public, for the first time, of federally registered and underwritten shares of stock in the company |
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Opportunity Analysis |
A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, and specification of activities and resources needed to translate your idea into a viable business and your source(s) of capital |
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Business Plan |
A formal planning step that focuses on the entire venture and describes all the elements involved in starting it |
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Legitimacy |
People's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values |
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Social capital |
A competitive advantage from relationships with other people and the image other people have of you |
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Skunkworks |
A project team designated to produce a new, innovative product |
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Bootlegging |
Informal work on projects, other than those officially assigned, of employees' own choosing and initiative |
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Accountability |
The expectation that employees will perform a job, take corrective action when necessary, and report upward onthe status and quality of their performance |
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Authority |
The legitimate right to make decisions and to tell other people what to do |
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Broker |
A person who assembles and coordinates participants in a network
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Centralized Orgnaization |
A organization in which high level executives make most decisions and pass them down to lower levels for implementation |
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Continuous Process |
A Process that is highly automated and has a continuous production flow. |
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Coordination |
The procedures that link the various parts of an organization for the purpose of achieving the organization's overall mission |
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Coordination by mutual adjustment |
Units interact with one another to make accommodations in order to achieve flexible coordination |
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Coordination by plan |
Interdependent units are required to meet deadlines and objectives that contribute to a common goal |
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Decentralized Organization |
An Organization in which lower-level managers make important decisions |
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Delegation |
The assignment of new or additional responsibilities to a subordinate |
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Departmentalization |
Subdividing an organization into smaller subunits |
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Differentiation |
An aspect of the organizations internal environment created by job specialization and th division of labor |
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Division of Labor |
The assignment of different tasks to different people or groups |
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Divisional organization |
Departmentalization that groups units around products, customers, or geographic regions |
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Formalization |
The presence of rules and regulations governing how people in the organization interact |
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Functional organization |
Departmentalization around specialized activities such as production, marketing, and human resources |
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High-involvement Organization |
An organization in which top management ensures that there is consensus about the direction in which thee business is heading |
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Integration |
The degree to which differentiated work units work together and coordinate their efforts |
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ISO 9001 |
A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of producers and consumers |
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Just-in-time |
A system that calls for subassemblies and components to be manufactured in very small lots and delivered to the next stage of the production process just as they are needed |
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Large Batch |
Technologies that produce goods and services in high volume |
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Lean Manufacturing |
An operation that strives to achieve the highest possible productivity and total quality, cost-effectively, by eliminating unnecessary steps in the production process and continually striving for improvement |
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Learning Organization |
An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge an insights |
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Line departments |
Units that deal directly with the organization's primary goods and services |
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Mass Customization |
The production of varied, individually customized products at the low cost of standardized, mass produced products |
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Matrix Organization |
An organization composed of dual reporting relationships in which some managers report to two superiors-a functional manager and a divisional manager |
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Mechanistic Organization |
A form of organization that seeks to maximize internal efficiency |
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Modular network |
Temporary arrangements among partners that can be assembled and reassembled to adapt to the environment; also called virtual network |
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Network Organization |
A collection of independent, mostly single-function firms that collaborate on a good or service |
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Organic Structure |
An Organizational form that emphasizes flexibility |
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Organization Chart |
The reporting structure and division of labor in an organization |
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Responsibility |
The assignment of a task that an employee is supposed to carry out |
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Small Batch |
Technologies that produce goods and services in low volume |
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Span of Control |
The number of subordinates who report directly to an executive or supervisor |
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Specialization |
A process in which different individuals and units perform different tasks |
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Staff departments |
A process in which different individuals and units perform different tasks |
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Standardization |
A process in which different individuals and units perform different tasks |
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Strategic alliance |
A formal relationship created among independent organizations with the purpose of joint pursuit of mutual goals |
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Technology |
The systematic application of scientific knowledge to a new product, process, or service |
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Total Quality Management (TQM) |
An integrative approach to management that supports the attainment of customer satisfaction through a wide variety of tools and techniques that result in high-quality goods and services |
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Unity-of-command principle |
A structure in which each worker reports to one boss, who in turn reports to one boss |
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Adverse impact |
When a seemingly neutral employment practice has a disproportionately negative effect on a protected group |
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arbitration |
The use of a neutral third party to resolve a labor dispute |
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Assessment center |
A managerial performance test in which candidates participate in a variety of exercises and situations |
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Cafeteria benefit program |
An employee benefit program in which employees choose from a menu of options to create benefit packages tailored to their needs |
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Comparable worth |
Principle of equal pay for different jobs equal worth |
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Development |
Teaching managers and professional employees broad skills needed for their present and future jobs |
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Diversity training |
Programs that focus on identifying and reducing hidden biases against people with differences and developing the skills needed to manage a diversified workforce |
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Employment-at-will |
The legal concept that an employee may be terminated for any reason |
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Flexible benefit programs |
Benefit programs in which employees are given credits to spend on benefits that fit their unique needs |
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Human resources management (HRM) |
System of organizational activities to attract, develop, and motivate an effective and qualified workforce. Also known as talent, human capital, or personnel management |
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Job analysis |
A tool for determining what is done on a given job and what should be done on that job |
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Labor relations |
THe system of relations between workers and management |
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Management by Objectives (MBO) |
A process in which objectives set by a subordinate and a supervisor must be reached within a given time period |
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Needs Assessment |
An analysis identifiying the jobs, people, and departments for which training is necessary |
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Orientation training |
Training designed to introduce new employees to the company and familiarize them with policies, procedures, culture, and the like |
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Outplacement |
The process of helping people who have been dismissed from the company to regain employment elsewhere |
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Performance appraisal (PA) |
Assessment of an employee's job performance |
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Recruitment |
The development of a pool of applicants for jobs in an organization |
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Reliability |
The consistency of test scores over time and across alternative measurements |
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Right-To-Work |
Legislation that allows employees to work without having to join a union |
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Selection |
Choosing from among qualified applicants to hire into an organization |
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Structured interview |
Selection technique that involves asking all applicants the same questions and comparing their responses to a standardized set of answers |
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Team Training |
Training that provides employees with the skills and perspectives they need to collaborate with others |
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Termination interview |
Training that provides employees with the skills and perspectives they need to collaborate with others |
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360-degree appraisal |
Process of using multiple sources of appraisal to gain a comprehensive perspective on one's performance |
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Training |
Teaching lower-level employees how to perform their present jobs |
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Union shop |
An organization with a union and a union security clause specifying that workers must join the union after a set period of time |
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Validity |
The degree to which a selection test predicts or correlates with job performance |
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Affirmative Action |
Special efforts to recruit and hire qualified members of groups that have been discriminated against int he past |
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Culture shock |
The disorientation and stress associated with being in a foreign environment |
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Diversity and inclusion initiatives |
Managing a culturally diverse workforce by recognizing the characteristics common to specific groups of employees while dealing with such employees as individuals and supporting, nurturing, and utilizing their differences to the organization's advantage |
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Ethnocentrism |
THe tendency to judge others by the standards of one's group or culture, which are seen as superior |
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Expatriates |
Parent-company nationals who are sent to work at a foreign subsidiary |
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Glass Ceiling |
Metaphor for an invisible barrier that makes it difficult for women and minorities to rise above a certain level in the organization |
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Host-country nationals |
Individuals from the country where an overseas subsidiary is located |
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Inpatriates |
Foreign nationals transferred to work at the parent company |
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Mentors |
Higher-level managers who help ensure that high-potential people are introduced to top management and socialized into the norms and values of the organization |
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Monolithic organization |
An organization that has a low degree of structural integration-employing few women, minorities, or other groups that differ from the majority- and thus has a highly homogeneous employee population |
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Multicultural organization |
An organization that values cultural diversity and seeks to utilize and encourage it |
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Pluralistic Organization |
An organization that has a relatively diverse employee population and makes an effort to involve employees from different gender, racial, or cultural backgrouds |
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Sexual Harassment |
Conduct of a sexual nature that has negative consequences for employement |
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Third-country nationals |
Individuals from a country other than the home country or the host country of an overseas subsidiary |
