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1.02 Key terms
| Term | Definition |
|---|---|
| Conceptual skills | involves deciding what work will be done and how it will be accomplished. |
| Controlling | involves monitoring the work effort. Managers coordinate the business’s activities to make sure that the company is performing effectively and achieving its goals |
| Directing | involves providing guidance to workers and work projects. Managers set the direction for the business and influence employees to follow in that direction. Not only do managers plan and organize the work, they guide employees in carrying out the work |
| Executive management | |
| Financial resources | |
| First-line management | |
| Goals | |
| Human resources | are all of a business’s employees |
| Information | |
| Interpersonal skills | need to be able to communicate, interact, and build relationships. To do that, they must treat employees fairly, listen to their concerns, and understand that employees are essential for business success |
| Management | is the logical process of coordinating resources, such as money and employees, to accomplish an organization’s goals |
| Management function | |
| Manager | |
| Material resources | |
| Mid-level management | This level of management is responsible for implementing the goals set by top management. Middle managers are the department heads, production managers, sales managers, and district managers. |
| Middle management | managers not only report to top managers, but also have lower level supervisors who report to them. Therefore, they are in the middle and are considered the link between top-level and first-line management |
| Organizing | involves setting up the way the business’s work will be done. |
| Planning | involves deciding what work will be done and how it will be accomplished |
| Resources | |
| Staffing | an important management function because staffing helps the business to find employees who know how to do the necessary work |
| Strategic planning | |
| Strategies | |
| Supervisory management | |
| Tactical planning | |
| Technical skills | need to understand the technical aspects of the business. Managers need to be able to answer questions, give directions, and solve problems |
| Top-level management | Managers at this level are responsible for the operation of the entire organization. They are the owners, chief executive officers, presidents, chief financial officers, vice presidents, and general managers. |
Created by:
dbholleman
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