MGT 350 - Chap 1
strategy
A cluster of decisions about what goals to prusue, what actions to take and how to use resources to achieve goals.
organizational structure
A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals.
top management team
A group composed of the CEO, the COO, and the heads of the most important departments.
self-managed teams
A group of employees who assume responsibility for organizing, controlling and supervising their own activities and monitoring the quality of the goods and services they provide.
department
A group of people who work together and possess similar skills or use the same knowledge, tools, or techniques to perform their jobs.
top manager
A manager who establishes organizational goals, decides how departments should interact, and monitors the performance of middle managers.
first-line manager
A manager who is responsible for the daily supervison of non-managerial employees.
middle manager
A manager who supervises first-line managers and is responsible for finding the best way to use resources to achieve organizational goals.
organizational performance
A measure of how efficiently and effectively a manager uses resources to satisfy customers and achieve organizational goals.
efficiency
A measure of how well or productively resources are used to achieve a goal.
effectiveness
A measure of the appropriateness of the goals an organization is pursuing and of the degree to which the organization achieves those goals.
leading
Articulating a clear vision and energizing and enabling organizational members so that they understand the part they play in achieving organizational goals; one of the four principle tasks of management.
organizations
Collections of people who work together and coordinate their actions to achieve a wide variety of goals, or desired future outcomes.
outsourcing
Contracting with another company, usually abroad, to have it perform an activity the organization previously performed itself.
controlling
Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance; one of the four principle tasks of management.
planning
Identifying and selecting appropriate goals; one of the four principle tasks of management.
organizing
Structuring working relationships in a way that allows organizational members to work together to achieve organizational goals; one of the four principle tasks of management.
competitive advantage
The ability of one organization to outperform other organizations because it produces the desired goods or services more efficiently and effectively than they do.
conceptual skills
The ability to analyze and diagnose a situation and to distinguish between cause and effect.
human skills
The ability to understand, alter, lead and control the behavior of other individuals and groups.
turnaround management
The creation of a new vision for a struggling company based on a new approach to planning and organizaing to make better use of a company's resources to allow it to survive and prosper.
restructuring
The downsizing of an organization by the elimination of jobs or large numbers of top, middle, and first-line managers as well as non-managerial employees.
technical skills
The job-specific knowledge and techniques required to perform an organizational role.
management
The planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively.
innovation
The process of creating new or improved goods and services or developing better ways to produce or provide them.
core competency
The specific set of departmental skills, knowledge and experience that allows one organization to outperform another.
global organizations
Organizations that operate and compete in more than one country.
