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.
