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Business Chapter 7
| Question | Answer |
|---|---|
| objectives | specific, short-term statements detailing how to achieve the organizations goals |
| SWOT anlysis | a planning tool used to analyze an organizations strengths, weeknesss, opportunities, and threats |
| strategic planning | the process of determining themajor goals of the organization and the policies and strategies for obtaining and using resources to acheive those goals |
| tactical planning | the process of developing detaile, shor term statements about what is to be done, who is to do it, and how it is to be done |
| operational planning | the process of setting work standards and schedules necessary to implement the companys tactical objectives |
| contigency planning | the process of preparing alternative courses of action that may be used if primary plans dont achieve the organizations objectives |
| decision making | choosing among two or more alternatives |
| problem solving | the process of solving everyday problems that occur. problem solvin is less formal than decision making and usually calls for quicker action |
| brainstorming | coming up iwth as many solutions to a problem as possible in a short period of time with no censoring of ideas |
| PMI | listing all the pluses for a solution in one column, all the minuses in another, and the implications in the third column |
| organizational chart | a visual device that shows relationships among people and divides the organizations work; it shows who reports to whom |
| top management | highest level of management, consistig of the president and other key compant executives who develope strategic plans |
| middle management | the level of managers that includes general manager, division manager, and branch and plant managers who are responsible for tactical planning and controlling |
| supervising management | managers who are directly responsuble for supervising workers and evalutating their daily employee |
| techinical skills | skills that involve the ability to perform tasks in a specific discipline or department |
| human relation skills | skills that involve communication and motivation; they enable managers to work through and with people |
| conceptual skills | skills that involve the ability to picture the organization as a whole and the relationship amoung ots various parts |
| staffing | a management function that includes hiring, motivating, and retaining the best people available to accomplish the companys objectiveS |
| transparency | the presentation of a companys facts and figures in a way that is clear and apparent to all stakeholders |
| autocratic leadership | leadership style that involves making managerial decisions without consulting others |
| participate leadership | leadership style that consist of managers and employees working together to make decisions |
| free-ran leadership | leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives |
| enabling | giving workers the education and tools they need to make decisions |
| internal customers | individuals and units within the firm that receive services from other individuals or units |
| external customers | dealers, who buy products to sell to others, and ultimate customers who buy products for their own personal use |
| knowledge management | finding the right info, keeping the info in a readily accessible place, and making the info known to everyone in the firm |
| goals | the brand, long term accomplishment an organization wish to attain |
| management | the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources |
| planning | a management function that includes anticipating trends and determining the best strategies and tactics to acheive organizational goals and objectives |
| organizing | a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to acheive the organization goals and objjectives |
| leading | creatinng a vision for the organization and guiding, training, coaching, and motivation others to work effectively to acheive the organizations goals and objectives |
| controlling | a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job and taking corrective action if they are not |
| vision | an ecompassing explanation of why the organization exists and where its trying to head |
| mission statement | an outling of the fundamental purposes of an organization |
Created by:
lrb2590
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