BUSN1010 2nd test, 1,2,3,4,5

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.

Chain of command

Official hierarchy of authority that dictates who is in charge of whom within the organization.

Management

Organization and coordination of activities of the firm in order to achieve defined goals and objectives.

Decentralized authority

Organization structure in which authority and decision-making is delegated to lower levels of the firm.

Centralized authority

Organization structure in which decision-making and authority are concentrated at top levels of the firm

Virtual corporation

Organization structure that temporarily networks replaceable firms that join together and leave as needed.

Flat organization

Organization with few layers of management between the executive level and the lowest leve

Tall organization

Organization with multiple layers of management between top executives and front-line employees.

Martrix Ogranization

Organizational structure that combines employees from different parts of the organization; often used for special projects.

Middle Management

People within a company who are in charge of departments or groups but below those in charge of the whole company.

Staff personnel

Personnel whose positions are typically advisory and/ or facilitative in nature.

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.

Departmentalization

Process of organizing employees into groups or units to accomplish specific organizational goals.

Objective

Statements of short-term, specific outcomes that are to be achieved by the firm

Line organization

Structure in which authority and responsibility move from top to bottom and each employee reports to only one manager.

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

Hierarchy

The levels of management within a business organization, from the lowest to the highest.

Top management

The most senior staff of an organization; i.e., Vice President, CEO, COO.

Span of control

The number of subordinates under the direct control of a manager or supervisor

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

Problem solving

The process of working through details of a predicament in order to reach a solution

Restructuring

The reorganization of a company in order to achieve greater efficiency and adapt to new markets.

Corporate culture

The shared values, symbols, rituals, beliefs and traditions of an organization

Mission statement

Written declaration of purpose that affirms the highest priorities of the organization.