Advantages of Buying an Existing Business, Small Business Start-up Trends, Business Strategy Implementation, Financial Plan, Entrepreneurs, Franchising Agreement, Job Rotation, Delegation, Recruiting, Job Analysis, Performance Appraisal, Individual...

Person's ability to get along with others in an organization

Agreeableness

Act that requires employers to provide reasonable accommodations for employees with disabilities

Americans with Disabilities Act

First step in human resource planning

Assessing external and internal trends

Risk assumed by entrepreneurs

Assuming the risk of a start-up

Beliefs and feelings that people have about specific ideas, situations, or other people

Attitudes

Financial document that shows a listing of all the organization's assets and liabilities

Balance sheet

Process of studying policies and practices of other organizations to improve performance

Benchmarking

Things of value other than compensation that an organization provides to its workers

Benefits

Components of the financial plan (excluding cash budget, income statement, and balance sheets)

Break-even chart

Organizational design characterized by formal and mechanistic structural arrangements

Bureaucratic control

Summary of the business strategy and how it is to be implemented

Business plan

Act that makes it easier for employees to sue an organization for discrimination

Civil Rights Act of 1991

Dimension of quality that refers to the ability of a product or service to conform to specifications

Conformance

Control mechanism that sends instructions to the automatic machine in automation

Control mechanism

Controllers used by large organizations to gather and assimilate relevant information

Controllers

Departmentalization used by Siemens One to group employees together that serve the same client

Customer departmentalization

Process of assigning a portion of work to others

Delegation

First step in designing operations systems

Determining the product-service mix

Aspects of business that a firm performs better than other companies in the same industry

Distinctive competencies

Dimension of quality that refers to a measure of product life

Durability

The idea that the manufacturing costs per unit decrease as the number of units produced increases

Economy of scale

Primary reason for delegation

Enable managers to get more work done

Effect of using product departmentalization on speed and effectiveness

Enhanced

Involvement in planning and organizing activities of a business venture

Entrepreneurs

Market in which several large firms compete according to relatively well-defined criteria

Established market

Advantage of buying an existing business

Established supplier relationships

Flow of information from the machine back to the sensor in automation

Feedback

Layout used when creating a few very large and complex products

Fixed-position layout

Dimension of quality that refers to the ability of a product or service to be used for multiple purposes

Flexibility

Process of forecasting the external labor supply

Forecasting the external labor supply

Example of dysfunctional behavior

Harassment

Organization's investment in attracting, retaining, and motivating an effective workforce

Human capital

Special compensation opportunity that is usually tied to performance

Incentive

Financial document that summarizes the financial performance of an organization over a period of time

Income statement

Category of temporary workers

Independent contractors

Psychological, emotional, and physical attributes that vary from person to person

Individual differences

Control of information resources in organizations

Information control

Consideration of current employees as candidates for openings

Internal recruiting

Systematized procedure for collecting and recording information about jobs within an organization

Job analysis

Document that lists the duties of a job, the job's working conditions, and the tools, materials, and equipment used to perform it

Job description

Determination of an individual's work-related responsibilities

Job design

Attempt to assess the worth of each job relative to other jobs

Job evaluation

Method used to balance the negative aspects of specialization by allowing workers to do a different type of work each day

Job rotation

Contributing factors to reasons for failure

Launching the business in spare time

Characteristics of organizations that use bureaucratic control

Limited employee participation

Dimension of emotional intelligence (EQ) that involves managing emotions

Managing emotions

Recent trends in small-business start-ups

Minorities and women starting more new businesses

Result when we experience an optimal level of stress

Motivation

Job specialization used in the National Football League

NFL teams use job specialization

Control of operations resources

Operations control

Managerial activities used to transform resources into products or services

Operations management

Process of subcontracting services and operations to other firms

Outsourcing

Control method used to reduce resistance to change

Participation

Set of processes by which an individual becomes aware of and interprets information about his or her environment

Perception

Dimension of quality that refers to the ability of a product or service to perform its intended function

Performance

Formal assessment of how well employees are doing their jobs

Performance appraisal

Control related to human resources

Performance appraisals

Examples of businesses operating in the service industry

Pet care salons, skin clinics, and day care centers

Control that provides a basis for rewarding employees

Postaction control

Control related to human resources used in evaluating job applicants

Preliminary control

Layout used in a hospital where different areas are designated for specific tasks

Process layout

Layout used in a toy manufacturing factory where employees are stationed along the assembly line

Product layout

Budget that shows the anticipated differences between sales or revenue and expenses

Profit budget

Agreement between an individual and an organization regarding expectations

Psychological contract

Totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs

Quality

Review method that compares each employee with a fixed standard

Rating

Process of attracting qualified persons to apply for open jobs

Recruiting

Description of furloughing

Reducing pay and hours but keeping benefits

Dimension of quality that refers to the ability of a product or service to be produced consistently

Reliability

Type of business that sells directly to consumers products manufactured by other firms

Retail

Control process that involves modifying recommendations based on feedback

Screening control

Control process that relies heavily on the feedback process

Screening control

Dimension of quality that refers to the ability of a product or service to be repaired

Serviceability

Privately owned business with sales and assets that are not adequate enough to meaningfully influence its environment

Small business

Number of people who report to a particular manager

Span of management

Number of subordinates reporting to a particular manager

Span of management

Potential disadvantage of using a budget

The budget can be applied too rigidly

Reason a manager might be unwilling or hesitant to delegate

The employee may not do the job well

Advantage of starting a business from scratch

The entrepreneur is free to choose inventories and locations

Advantage of a franchising agreement

The franchisee can easily establish a business with reduced risks

Most significant disadvantage to owning a franchise

The franchisee may have to pay a high start-up cost

Advantage of the realistic job preview

The person hired will be more likely to remain in the job for a longer period of time

Result when an employee is satisfied at work

They tend to be absent less often

Personality type based on the Myers-Briggs framework

Thinker

Goal of effective controls in organizations

To successfully regulate and monitor activities

Group of small investors seeking to make profits on companies with rapid growth potential

Venture capital companies

Management policy decision about whether a firm wants to pay above, at, or below the going rate for labor

Wage-level decision

Control system considered to be flexible

When it can accommodate change