Chapter 7 Business

Front 1

tactical plan

Back 1

plan that translates general goals developed by strategic managers into more specific objectives and activities

Front 2

contingency plan

Back 2

plan that establishes alternate courses of action if existing plans are disrupted or become ineffective

Front 3

technical skills

Back 3

knowledge of and proficiency in completing specific tasks

Front 4

conceptual skills

Back 4

ability to see the organization as a whole and visualize how it fits into the border environment

Front 5

middle management

Back 5

People within a company who are in charge of departments or groups but below those in charge of the whole company

Front 6

PMI

Back 6

listing all the Pluses for a solution in one column, all the Minuses in another, and the Implications in a third column; decision making tool for weighing pros and cons of a decision

Front 7

Top management

Back 7

The most senior staff of an organization (President or VP)

Front 8

Strategic

Back 8

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 9

SWOT ANALYSIS

Back 9

A planning tool used to analyze an organizations strength, weaknesses, opportunities and threats

Front 10

mission statement

Back 10

written declaration of purpose that affirms the highest priorities of the organization

Front 11

objectives

Back 11

statements of short-term, specific outcomes that are to be achieved by the firm

Front 12

vision

Back 12

The answer to the question, "Why does this organization exist?"

Front 13

goals

Back 13

Long term, measurable accomplishments to be achieved by the firm within a specified time frame

Front 14

free - rein leader

Back 14

leader who favors autonomy and allows group members to make decisions and take action as needed

Front 15

autocratic leader

Back 15

leader who maintains individual control over all decisions and accepts little input from subordinates

Front 16

Democratic leader

Back 16

leader who involved subordinates in goal setting, problem solving and decision making

Front 17

transparency

Back 17

The full accurate and timely disclosure of pertinent information to stakeholders of the firm

Front 18

organization chart

Back 18

a visual device that shows relationships among people and divides the organization's work; it shows who reports to whon

Front 19

supervisory management

Back 19

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

Front 20

management

Back 20

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

Front 21

leading

Back 21

The process of guiding, influencing and motivating others to work towards common goals

Front 22

organizing

Back 22

The grouping of people, resources and activities to accomplish the objectives of the organization

Front 23

planning

Back 23

The process of establishing organizational goals and determining how to accomplish them

Front 24

controlling

Back 24

The process of evaluating and regulating ongoing organizational activities to ensure that goals are achieved

Front 25

brainstorming

Back 25

The process of generating creative ideas and solutions through unrestricted group discussion

Front 26

problem solving

Back 26

The process of working through details of a predicament in order to reach a solution

Front 27

decision making

Back 27

The process of selecting one alternative from the available alternatives

Front 28

staffing

Back 28

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

Front 33

technical skills

Back 33

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

Front 34

human relation skills

Back 34

skills that involve communication and motivation which enables managers to work through and with people