Intro to Business (Basic Vocab, Chapter 7)

Middle Management

the level of management that includes general managers, dividsion managers, and branch and plant managers who are responsible for tactical planning and controlling

SWOT Analysis

A planing tool used to analyze an organization's strengths,weaknesses, opportunities, and threats

Contingency Plan

Back-up plan

Operational Planning

Like a day goal

Four Functions of Management

Planning, Leading, Organizing, Controlling

Tactical Planning

Short-term statements

Strategic Planning

The setting of broad, long-range goals

Top Management

highest level of management, consisting of the president and other key company executives who develop strategic plans

Participative (democratic) Leadership

leadership style that consists of managers and employees working together to make decisions

Autocratic Leadership

leadership style that involves making managerial decisions without consulting others

Free-Rein Leadership

leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives

Supervisory Management

managers who are directly responsible for supervising workers and evaluating their daily performance