BUS 101 - Ch. 7

Internal Customers

Individuals and units within the firm that receive services from other individuals or units.

Autocratic Leadership

Leadership style that involves making managerial decisions without consulting others.

Free-Rein Leadership

Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.

Strategic Planning

The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.

SWOT Analysis

A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.

Organizational Chart

A visual device that shows relationships among people and divides the organization's work; it shows who reports to whom.

Vision

An encompassing explanation of why the organization exists and where it's trying to head.

Mission Statement

An outline of the fundamental purposes of an organization.

Leadership

Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organiaztion's goals and objectives.

External Customers

Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

Democratic Leadership

Leadership style that consists of managers and employees working together to make decisions.

Managerial Functions

Planning, organizing, leading, controlling

Human Relations Skills

Skills that involve communication and motivation; they enable managers to work through and with people.

Technical Skills

Skills that involve the ability to perform tasks in a specific discipline or department.

Conceptual Skills

Skills that involve the ability to picture the organization as a whole and the relationship among its various parts.

Objectives

Specific, short-term statements detailing how to achieve the organization's goals.

Goals

The broad, long-term accomplishments an organization wishes to attain.

Tactical Planning

The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.

Management

The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.