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Midterm Vocab
Chapters 11-14 Vocab
59
Business
12th Grade
01/23/2014

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Cards

Term
Management
Definition
The process of accomplishing the goals of an organization through the effective use of people and other resources.
Term
Planning
Definition
Analyzing information and making decisions about what needs to be done.
Term
Organizing
Definition
Determining how plans can most effectively be accomplished; arranging resources to complete work
Term
Implementing
Definition
Helping employees to work effectively.
Term
Controlling
Definition
Evaluating results to determine if the company's objectives have been accomplished as planned.
Term
Manager
Definition
A person who completes all four management functions on a regular basis and has authority over other jobs and people.
Term
Supervisor
Definition
A manager whose main job is to direct the work of employees.
Term
Executive
Definition
A top-level manager who spends almost all of his or her time on management functions.
Term
Mid-manager
Definition
A manager who completes all of the functions but spends more time on one of the functions or is responsible for a specific part of the company's operations.
Term
Problem
Definition
A difficult situation requiring a solution.
Term
Symptom
Definition
A sign or indication of something that appears to be the problem.
Term
Leader
Definition
A manager who earns the respect and cooperation of employees to effectively accomplish the organization's work.
Term
Leadership
Definition
The ability to influence individuals and groups to achieve organizational goals.
Term
Human Relations
Definition
How well people get along with each other when working together.
Term
Power
Definition
The ability to control behavior.
Term
Position Power
Definition
Comes from the position the manager holds in the organization.
Term
Reward Power
Definition
Based on the ability to control resources, rewards, and punishments.
Term
Expert Power
Definition
Given to people who are considered the most knowledgeable.
Term
Identity Power
Definition
Given to people because others identify with and want to be accepted by them.
Term
Leadership Style
Definition
The general way a manger treats and directs employees.
Term
Autocratic Leader
Definition
One who gives direct, clear, and precise orders with detailed instructions as to what, when, and how work is to be done.
Term
Democratic Leader
Definition
One who encourages workers to share in making decisions about work-related problems.
Term
Open Leader
Definition
A manager who gives little or no direction to workers.
Term
Situational Leader
Definition
One who understands employees and job requirements and matches actions and decisions to the circumstances.
Term
Work Rules
Definition
Regulations created to maintain an effective working environment in a business.
Term
Strategic Planning
Definition
Long-term planning that provides broad goals and directions for the entire business.
Term
SWOT Analysis
Definition
An examination of an organizations internal strengths and weaknesses as well as opportunities and threats from its external environment.
Term
Mission Statement
Definition
A short, specific statement of the purpose and direction of the business.
Term
Vision
Definition
A broad, lasting, and often inspirational view of a company's reason for existing.
Term
Goal
Definition
A specific statement of a result the business expects to achieve.
Term
Schedule
Definition
A time plan for reaching objectives.
Term
Standard
Definition
A specific measure by which something is judged.
Term
Policies
Definition
Guidelines used in making decisions regarding specific, recurring, situations.
Term
Procedure
Definition
A list of steps to be followed for performing certain work.
Term
Orginazation Chart
Definition
A visual device that shows the structure of an organization and the relationships among workers and divisions of work.
Term
Responsibility
Definition
The obligation to do an assigned task.
Term
Authority
Definition
The right to make decisions about work assignments and to require other employees to perform assigned tasks.
Term
Empowerment
Definition
(1) Letting workers decide how to perform their work tasks and offer ideas on how to improve the work process. (2) The authority given to individual employees to solve problems on the job with available resources.
Term
Accountibility
Definition
The obligation to accept responsibility for the outcomes of assigned tasks.
Term
Unity of Command
Definition
Means that no employee has more than one supervisor at a time.
Term
Span of Control
Definition
The number of employees who are directly supervised by one person.
Term
Line Orginization
Definition
All authority and responsibility may be traced in a direct line from the top executive down to the lowest employee level in the organization.
Term
Line-and-Staff Orginization
Definition
The addition of staff specialists to a line organization.
Term
Matrix Orginization
Definition
Combines workers into temporary work teams to complete specific tasks.
Term
Team Orginization
Definition
Divides employees into permanent work teams.
Term
Self-Directed Work Team
Definition
A team in which members together are responsible for the work assigned to the team.
Term
Centralized Orginization
Definition
All major planning and decision making is done by a group of top managers in the business.
Term
Decentralized Orginization
Definition
A business is divided into smaller operating units and managers are given almost total responsibility and authority for the operation of those units.
Term
Flattened Orginization
Definition
One with fewer levels of management than traditional structures.
Term
Motivation
Definition
The set of factors that cause a person to act in a certain way.
Term
Work Team
Definition
A group of individuals who cooperate to achieve a common goal.
Term
Process Improvement
Definition
Efforts to increase the effectiveness of specific business operations.
Term
Achievement Need
Definition
Take personal responsibility for work; set personal goals; want immediate feedback on work.
Term
Affiliation Need
Definition
Concerned about relationships with others; work to get along well and fit in with a group.
Term
Power Need
Definition
Desire to influence and control others and to be responisble for a group's activities.
Term
Hygiene Factors
Definition
Job factors that dissatisfy when absent but do not contribute to satisfaction when they are present.
Term
Motivators
Definition
Factors that increase job satisfaction.
Term
Variance
Definition
The difference between current performance and the standard.
Term
Just-In-Time (JIT) Inventory Controls
Definition
A method in which the company maintains very small inventories and obtains materials just in time for use.
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