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Keyworkds
Unit 3
| Term | Definition |
|---|---|
| Agenda | A list of topics to be discussed at a meeting. It gives participants advance warning of what is to be discussed at the meeting and sets out the running order at the meeting. |
| Chairperson | Has the main responsibility for the conduct of a meeting, organizes the agenda for the meeting and ensures that the business of the meeting is carried out. |
| Control | The management function that measures actual performance and compares it to a standard set and then takes corrective action if necessary. |
| Co-ordination | The process of harmonizing the work of different people and different departments to achieve organizational goals. |
| Credit Control | The control exercised by a firm over its trade debtors to ensure that customers pay their debts on time and to minimize the risk of bad debts. It involves assessing the creditworthiness of new and established customers to determine credit limits. |
| Delegation | Responsibilities are assigned to a subordinate by a superior while the superior still retains overall authority for them. |
| EDI | A permanent link between computers enabling data to be exchanged. Business documents such as invoices and purchases orders are exchanged over electronic networks such as the Internet. |
| A system of sending messages from one computer to another using a modem and telephone line via the internet. Messages are stored in an electronic mail box until the recipient accesses them. | |
| External communication | The flow of information between the organization and external parties including customers, suppliers, the general public, government departments, etc. |
| Information Technology | The use of computers and other electronic means to store, process and distribute information. Information Technology is broader than computing and includes telecommunications and microelectronics. |
| Internal Communication | Exchange of information between people within the organization, e.g. manager passing down instructions to a subordinate. |
| Internet | Global computer network carrying the world wide web, email and other services using telephone links. |
| Leading | The ability to influence people so that they perform their assigned tasks willingly, efficiently and effectively to achieve the goals of the organization. This includes motivating subordinates, directing and earning the respect of others. |
| Management | This involves getting things done through other people. It is the process of planning, organizing and leading and controlling human and physical resources within an organization so as to meet defined objectives. |
| Minutes | A brief record of the business transacted at a meeting written by the secretary. They contain discussions, proposals and decisions taken at the meeting and the conclusions reached. |
| Modem | A device that connects to a computer to the Internet. It converts a digital signal from a computer into an analogue signal which can be carried on a standard telephone line. The receiving modem converts the signal back to digital. |
| Motivation | The influences that cause employees to act in a certain way and achieve certain goals. The willingness of people to work without being pushed. |
| Objectives | Goals or targets that the organization seeks to achieve in order to fulfill its aims. |
| Organization Structure | The formal and systematic way the management of a business is organized. When presented as a diagram it shows the relationship between the personnel and who is answerable to whom. |
| Planning | The management function concerned with defining goals or targets and deciding on the policies and actions required to achieve them. Deciding in advance what is to be done and how it is to be done. |
| Quality Control | A system for setting quality standards, measuring performance against those standards and taking action to deal with any deviations. It is concerned with maintaining consistent levels of quality as required by product specifications and customer demands. |
| Secretary | Sends out the notices of the meeting, books the venue and makes other arrangements for the meeting. At the meeting they will take notes and write up minutes. They also keep documents and correspondence. |
| Span of control | The number of employees reporting to a supervisor or manager; the number of subordinates to whom a manager delegates his authority. |
| Stock control | Controlling stock levels to ensure that the business has an adequate amount of stock to produce goods and satisfy customer demand and at the same time does not have too much money tied up in stock. |
| Terms of Reference | Instructions given to a report writer, the matters that a report covers and the limits of a report. |
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