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business essentials
Term | Definition |
---|---|
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 |
directing | the management function of providing guidance to workers and work projects |
executive management | top-level management |
financial resources | all sources of money available to a business |
first-line management | supervisors who work directly with the employees who carry out the business routine work |
goals | objectives |
human resources | people who work to produce goods or services |
information | knowledge facts or data |
interpersonal skills | the ability to communicate interact and build relationships with others |
management | the process of coordinating resources to accomplish an organization's goal |
management functions | groups of activities related to management (i.e. planning organizing staffing directing and controlling) |
manager | individual whose job involves carrying out management functions |
material resources | equipment and supplies used by businesses in their operation |
mid-level management | managers who report to top-level managers and who have supervisors who report to them |
middle management | mid-level management |
organizing | the management function of setting up the way the business |
planning | the management function of deciding what will be done and how it is done |
resources | items that can be used to produce goods and services |
staffing | the management of finding workers for the business |
strategic planning | long range planning three to five years for the company as a whole |
strategies | plans of action for achieving goals and objectives |
supervisory management | first-line management |
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 |