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Management Leading & Collaborating in the Competitive World
Key terms Chapter 1
20
Business
Graduate
01/11/2010

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Term
Knowledge Management
Definition
Practices aimed at discovering and harnessing an organization's intellectual resources.
Term
Innovation
Definition
The introduction of new goods and services.
Term
Quality
Definition
The excellence of your product (goods or services).
Term
Service
Definition
The speed and dependability with which an organization delivers what customers want.
Term
Speed
Definition
Fast and timely execution, response, and delivery of results.
Term
Cost competitiveness
Definition
Keeping cost low to achieve profits and be able to offer prices that are attractive to consumers.
Term
Planning
Definition
The management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue.
Term
Value
Definition
The monetary amount associated with how well a job, task, good, or service meets users' needs.
Term
Management
Definition
The process of working with people and resources to accomplish organizational goals.
Term
Organizing
Definition
The management function of assembling and coordinating human, financial, physical, informational, and other resources to achieve goals.
Term
Leading
Definition
The management function that involves the manager's efforts to stimulate high performance by employees.
Term
Controlling
Definition
The Management function of monitoring performance and making needed changes.
Term
top-level managers
Definition
Senior executives responsible for the overall management and effectiveness of the organization.
Term
middle-level managers
Definition
Managers located in the middle layers of the organizational hierarchy, reporting to top level executives.
Term
frontline managers
Definition
Lower-level managers who supervise the operational activities of the organization.
Term
Technical Skill
Definition
The ability to perform a specialized task involving a particular method or process.
Term
conceptual and decision skills
Definition
Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members.
Term
interpersonal and communication skills
Definition
People skills: the ability to lead, motivate, and communicate effectively with others.
Term
emotional intelligence
Definition
The skills of understanding yourself, managing yourself, and dealing effectively with others.
Term
social capital
Definition
goodwill stemming from your social relationships.
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