Chapter 7- Management and Leadership
enabling
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organization chart
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staffing
A management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.
SWOT analysis
A planning tool used to analyze an organization's strength, weaknesses, opportunities, and threats.
conceptual skills
Ability to see the organization as a whole and visualize how it fits into the broader environment.
PMI
Decision making tool for weighing the pros and cons of a decision.
technical skills
Knowledge of and proficiency in completing specific tasks.
free-rein leader
Leader who favors autonomy and allows group members to make decisions and take action as needed.
democratic leader
Leader who involves subordinates in goal setting, problem solving and decision making.
autocratic leader
Leader who maintains individual control over all decisions and accepts little input from subordinates.
goals
Long-term, measurable accomplishments to be achieved by the firm within a specified time frame.
management
Organization and coordination of activities of the firm in order to achieve defined goals and objectives.
middle management
People within a company who are in charge of departments or groups but below those in charge of the whole company.
contingency plan
Plan that establishes alternate courses of action if existing plans are disrupted or become ineffective.
strategic plan
Plan that establishes organization's major goals and objectives and allocates resources to achieve them.
tactical plan
Plan that translates general goals developed by strategic managers into more specific objectives and activities.
objectives
Statements of short-term, specific outcomes that are to be achieved by the firm.
vision
The answer to the question, "Why does this organization exist"?
transparency
The full, accurate and timely disclosure of pertinent information to stakeholders of the firm.
organizing
The grouping of people, resources and activities to accomplish the objectives of the organization.
top management
The most senior staff of an organization; i.e., Vice President, CEO, COO.
planning
The process of establishing organizational goals and determining how to accomplish them.
controlling
The process of evaluating and regulating ongoing organizational activities to ensure that goals are achieved.
brainstorming
The process of generating creative ideas and solutions through unrestricted group discussion.
leading
The process of guiding, influencing and motivating others to work toward common goals.
decision making
The process of selecting one alternative from the available alternatives.
operational plan
The process of setting work standards and schedules necessary to implement the company's tactical objectives.
problem solving
The process of working through details of a predicament in order to reach a solution.
mission statement
Written declaration of purpose that affirms the highest priorities of the organization.