Chapter 7- Management and Leadership

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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.


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