Exam 2: Bus 100-004
In a ________ organization employees follow a strict set of rules and regulations
bureaucratic
The concept of _______ ___ _______ suggests that as businesses produce more the average cost decreases
Economics of Scale
Define micropreneur
A person that works on a small scale or a very specific product line or service **less that 5 employees
Define Intrapreneur
A person within a business is championing an innovative idea
Define enrichment
Adding some task variety within original skill set, improving quality by adding something new
Companies use ______ position layout when working on a project using large scale production
Fixed
Define job specialization
Focusing on one area of expertise, providing employees with training, education, or experience
What do business incubators do?
Give new businesses management training and other types of training, and offer space to a business so they can begin even with inefficient funds **Sponsored by the govt
_________ is the management function of creating a vision for the organization and motivation employees to achieve it
Leading
_______ is the art of utilizing organizational resources to accomplish a work goal
Management
________ are specific short-term results an organization wants to achieve in order to fulfill long-term goals
Objectives
Define Entrepreneur
Person that starts their own business that has taken on financial risk to satisfy a gap in the market
What are the four functions of management?
Planning, organizing, leading, controlling
What can companies use to evaluate their internal strengths?
SWOT (strengths, weaknesses, opportunities, and threats)
Define Gantt chart
Used to show the amount of work done in a certain time period related to an overall plan
H. Fayol he management established what type of organization
bueracratic organization
Define LEAN manufacturing
systematic approach to minimize waste (waste of time/product)