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3.02A Key Terms

TermDefinition
benefits Advantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance).
compliance Fulfilling the requirements of the law.
conceptual skills The ability to see the “big picture” and think about how things will work together.
controlling The management function that monitors the work effort.
data processing Converting facts and figures into useful information.
directing The management function of providing guidance to workers and work projects.
first line management Supervisors who work directly with the employees who carry out the business’s routine work.
human resources People who work to produce goods or services.
information management The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision-making.
information Knowledge, facts, or data presented in a useful form.
interpersonal skills The ability to communicate, interact, and build relationships with others.
management skills Groups of activities related to management (i.e., planning, organizing, staffing, directing, and controlling).
management information system An integrated technology that assists with an organization’s information management needs.
material resources Equipment and supplies used by businesses in their operation.
med level management Managers who report to top-level management and who have supervisors who report to them.
organizing The management function of setting up the way the business’s work will be done.
planning The management function of deciding what will be done and how it will be accomplished.
professional development Steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession.
proprietary information Private information that belongs to an organization and cannot be released to the public.
staffing A human resources management activity that involves recruiting, interviewing, hiring, orienting, and dealing with job changes for a company’s employees.
strategic planning Long-range planning (three to five years) for the company as a whole.
tactical planning Short-range planning (one year) of specific actions the business will take.
technical skills Ability to understand the specialized aspects of jobs.
top level management All managers who are responsible for the operation of the company or a business unit.
trade secret Undisclosed information within a particular business or industry.
Created by: bricela
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