Business 100

Companies use _ _ layout when working on projects involving the production of large items

fixed position

Entrepreneur

-A person who organizes and operates a business, taking on greater than normal financial risks in order to do so

Define job enrichment

A method of motivating employees when a job is designed to have interesting and challenging tasks which can increase pay

Define each function

Anticipating trends and determining the best tactics to achieve organization goals and objectives Designing the structure of the organization Creating a vision for the organization Establishing a clear standard for the organization

What organizational design did Fayol create

Bureaucratic bureaucracy

The concept of _ _ suggests that as a business produces more of an item, the average cost goes down-

Economies of Scale

What is the problem with Fayol's principle of organization design

It is not a flexible system

_ is the management function of creating a vision

Leading

_is the management function of creating a vision

Leading

_ is the art of utilizing organizational resources to accomplish goals at work

Management

are specific short term measurable results that an organization uses to achieve long term goals

Objectives

A gantt chart does what-

Shows production managers what projects are being worked on and what they are in at any given time

The SWOT analysis is used for what purpose?

To identify the strengths, weaknesses, opportunities, and thread for a business

Define micropreneur

an entrepreneur who develops a business with five or less employees

Define job specialization

deals with training and skills, have to have specific training to be an expert

Business incubators do at least 2 things-

offer training and office space

What are the four functions of management?

planning, organizing, leading, controlling

Define Intrapreneur

someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization's resources to try to realize it

Define lean manufacturing-

the production of goods using less of everything compared to mass production

To be considered part of a market and individual must have both

willingness to buy and financial resources needed to buy