Business Final Exam

planning

a management function that includes anticipating trends determining the best stratigies and tactics to achieve organizational goals and objectives

staffing

a management function that includes hiring, motivating, and retaing the best people available to accomplish the companys objectives

controlling

a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.

SWOT analysis

a planning tool used to analyze an organizations strengths, weakness opportunities, and threats

organization chart

a visual device that shows relationships amoung people and divides the organizations work, it shows who reports to who

vision

an encompassing explanation of why the organization exists and where its trying to head

mission statement

an outline of the fundamental process of an organization

decision making

choosing amoung two or more alternatives

brain storming

coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas

leading

creating a vision for the organization and guiding, training , coaching, and motivating others to work effectively to acheive the organizations goals and objectives

external customers

dealers who buy products to sell to others and ultimate customers who buy products for their own personal use

kknowledge. management

finding the right information, keeping the information in a readily accessable place, and making the information known to everyone in the firm.

enabling

giving workers the education and tools they need to make decisions

top management

highest level of management. consisting of the president and other key executives who develop stategic plans.

internal customers

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

autocratic leadership

leadership style that involves making making managerial decisions with out consulting others

autocratic

leadership style that involves making managerial decisions without consulting others

free rein leadership

leadership style that involves managers setting objectives and employers being relatively free to do whatever it takes to accomplish those objectives

pmi

listing all the Pluses for a solution in one column, all the minuses in another, and the implication in a third column

organizing

management function that includes designing the structure of the organization and creating conditions and system in which everyone and everything work together to achieive the organization and creating conditions and systems in which everyone and everything work together to acheive the organizations goals and acheievements

supervisory management

managers who are directly responsible for suprivising workers and evaluating. their performance.

human relationship

skills that involve communication and motivation, they enable managers to work through 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 and organization as a whole and the relationship amoung its various parts

objectives

specific. short-term ataements detailing how to achieve the organization strengths, weaknesses, opportunities, amd threats

goals

the broad, long term accomplishments an organization wishes to attain

middle management

the level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlled

transparency

the presentation of a company's fact and figures in a way that is clear and apparent to all stakeholders

strategic planning

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

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

contingency planning

the process of preping alternative courses of action may be used if the primary plans dont acheive the organization's objective

operational planning

the process of setting work standards and schedules necessary to implement the company's tactical objectives

problem solving

the process of solving the everyday problems that occur. problem solving is less formal than decisions making and usually calls for quicker action

management

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