BUSAD101 Test 2
Terms
undefined, object
copy deck
- management
- The process of achieving organization objectives through people and other resources.
- technical skills
- The manager's ability to understand and use techniques, knowledge, and tools and quimpment of a specific discipline or department.
- human skills
- Interpersonal skills that enable a manager to work effectively with and through people.
- conceptual skills
- Determine a manager's ability to see the organization as a unifed whole and to understand how each part of the overall organization interacts with other parts.
- planning
- The process of anticipating future events and conditions and determining courses of action for achieving organizational objectives.
- organizing
- The means by whihc managers blend human and material resources through a formal structure of tasks and authoirty.
- directing
- Guiding and motivating employees to accomplish organizational objectives.
- controlling
- The function of evaluating an organization's performance to determine whether it is accomplishing its objectives.
- vision
- Perception of marketplace needs and methods an organization can use to satisfy them.
- strategic planning
- The process of determining the primary obejctives of an orgnaziation and then adopting the courses of action and allocating resources to achieve those objectives.
- tactical planning
- Plans designed to implement the acitivites specified by strategic plans.
- operational planning
- Plans that create the detailed standards that guide implementation of tactical plans
- contingency planning
- Plans that allow a firmt o resume operations as quickly and as quickly and as smoothly as possible after a crisis while openly communicating with the public about what happened.
- mission statement
- Written explanation of an organization's business intentions and aims.
- SWOT analysis
- An organized approach to assessing a company's internal strengths and weaknesses and its external opportunities and threats.
- objectives
- Guideposts by which managers define the organiztion's desired performance in such areas as profitability, customer service, growth, and empoyee satisfaction.
- competitive differentiation
- The unique combination of a company's abilities and approaches taht place it ahead of competitors.
- decision making
- the process of recognizing a problem or opportunity, evaluating alternative solutions, selecting and implementing an alternative, and assessing the results.
- programmed decision
- Simple, common and frequently occuring problem for which a solution has already been determined.
- nonprogrammed decision
- A complex and unique problem or opportunity with important consequences for the organization.
- leadership
- The ability to direct or inspire people to attain organizational goals.
- autocratic leadership
- A management approach whereby leaders make decisions on their own without consulting employees.
- democratic leadership
- A management approach whereby leaders delegate assignments, ask employees for suggestions, and encourage thier participation.
- empowerment
- Giving employees authority and responsibility to make decisions about thier work without traditional managerial approval and control.
- free-rein leadership
- A management approach whereby leaders believe in minimal supervision and leave most decisons to their subordinates
- corporate culture
- An organization's system of values, principles, and belief.
- organization
- A structuredgrouping of people working together to achieve common goals.
- organization chart
- A visual representation of a firm's structure taht illustrates job positions and functions.
- departmentalization
- the Process of dividing work activites into units within the organization.
- delegation
- The act of assigning work activites to subordinates.
- span of management
- The number of subordinates a manager can supervise effectively.
- centralization
- When decision making is based at the top of the management hierarchy
- decentralization
- When decision making is based at the lower levels of the organization.
- line organziation
- An organizational structure that establishes a direct flow of auhtoirty from the chief executive to subordinates.
- chain of command
- A set of relationships that indicates who directs which activities and who reports to whom.
- line-and-staff organization
- An organizational structure that combines the direct flow of authority of a line organization with staff departments that serve, advise, and support the line departments.
- line manager
- An executive involved with the functions of production, financing, or marketing.
- staff manager
- An executive who provides information, advice, or techincial assistance to aid line managers; does not have the atuhority to give orders, outside his/her own department or to compel line managers to take action.
- committee organization
- An organizational structure that places authority and responsibilty jointly in the hands of a group of individuals rather than a single manager.
- matrix structure
- A project management structure that links employees from different parts of the organization to work together on specific projects.
- human resource management
- The function of attracting, developing, and retiaing enough qualified employees to perform the activities necessary to accomplish organizational objectives.
- professional employment services (PEOs)
- A company that helps firms with a wide range of human resource services.
- employment at will
- Practice that allows the employemnt relationship to begin or end at any time at teh decision of either the employee or the employer for any legal reason.
- on-the-job training
- Training method that teaches an employee to complete new tasks by peforming them under teh guidance of an experienced employee.
- managemnet development program
- Provides traiining designed to improve the skills and broaden the knowlege of current and potential executives.
- performance appraisal
- An evaluation of an employee'sjob performance by comparing actual results with desired outcomes.
- 360-degree performance review
- Employee performance review that gathers feedback from co-workers, supervisors, managers, and sometimes customers.
- wages
- Compensation based on an hourly pay rate or the amount of outpout produced.
- salary
- Compensation calculated on a periodic basis, such as weekly or monthly.
- living wage
- Legally mandated wage that allows a worker to support a family of four without any form of public assistance.
- employee benefits
- Rewards such as retirement plans, health insurance, vacations, and tutitipon reimbursement provided for employees either entirely or in part at the company's expense.
- 401(k) plans
- Retirement savings plan for which employees can make pretax contributions' sometimes, employers make additional contributions to the plan.
- flexible benefit plan
- Benefit system that offers employees a range of options from which they may choose the types of benefits they recieve.
- flexible work plan
- Employment that allows personnel to adjust their working hours and places of work to accommodate their personal lives.
- flextime
- scheduling system that allows employees to set their own work hours wihtin constraints specified by the firm.
- downsizing
- Process of reducing the number of employees within a firm by elminating jobs.
- outsourcing
- Pracitce of contracing out work previously performed by company employees.
- morale
- Mental attitude of employees toward their employer and jobs.
- contingent worker
- Employee who works part time, temporairly, or for the period of time specified in a contract.
- Maslow's hierarchy of needs
- A theory of motivation, which states that people have five levels of needs that they seek to satisfy: physicological, safety, social, esteem, and self-actualization.
- job enlargement
- Job design that explands anemployee's responsibilities by increasing the number and variety of tasks assigned to the worker
- job enrichment
- Change in job duties to increase employees' authority in planning their work, deciding how it should be done, and learning new skills.
- Theory X
- Assumption that employees dislike work and will try to avoid it.
- Theory Y
- Assumptions that employees enjoy work and seek social, esteem, and self-actualization flufillment.
- Theory Z
- Assumption that employee involvement is key to productivity and quality of work life.
- labor union
- A group of workers who have banded together to achieve common goals in teh areas of wages, hours, and working conditions.
- collective bargaining
- Process of negotiation between managemnet and union representatives for the prupose of arriving at mutually acceptable wages and working conditions for employees.
- grievance
- Formal complaint filed by an employee or a union that managemnet is violating some provision of a union contract.
- employee stock owndership plans (ESOPs)
- Plan that benefits employees by giving them ownership stakes in teh companies for which they work.
- teamwork
- Cooperative effort by a group of workers acting together for a common cause.
- team
- Group of employees who are committed to a common purpose, approach, and set of performance goals.
- work team
- Relatively permanent group of employees with complementary skills who perform the day-to-day work of roganizations.
- problem-solving team
- Temporary combination of wokres who gather to solve a specific problem and then disband.
- team cohesiveness
- Extent to which team members feel attracted to the team and motivated to remain part of it.
- team norm
- Informal standard of conduct shared by team members that guides their behavior.
- conflict
- Antagonistic interaction in which one party attempts to thwart the intentions or goals of another.
- communication
- Meaningful exchange of information through messages.
- listening
- Skill of receiving a message and interpreting its intended meaning by grasping the facts and feelings it conveys.
- grapevine
- Inernal information channel that transmits information from unofficial sources.
- internal communication
- System that sends messages through channels within an organization.
- external communication
- meaningful exchange of information through messages transmitted between and organization and its major audiences.
- production
- Application of resources such as poeple and machinery to convert materials into finished goods and services.
- production and operations management
- Managing people and machinery in converting materials and resources into finished goods and services.
- assembly line
- Manufacturing technique that carries the product on a conveyor system past several workstations where workersperform specialized tasks.
- robot
- Reprogrammable machine capable of performing numberous tasks that require manipulations of materials and tools.
- computer-aided design (CAD)
- System for interactions between a designer and a computer to design a product, facility, or part that meets predetermined specifications.
- computer-aided manufacturing (CAM)
- Electronic tools to analyze CAD output and determine necessary steps to implement the design followed by electronic transmission of instructions to gudie the activites of production equipment.
- just-in-time (JIT) system
- Management philosophy aimed at improving profits and return on investment by minimizing costs and eliminating waste through cutting inventory on hand.
- materials requirement planning (MRP)
- Computer-based production planning system by which a firm can ensure that it has needed parts and materiasl available at the right time and place int he correct amounts.
- scheduling
- Development of timetables that specify how long each operation in the prodcution process takes and when workers should perform it.
- benchmarking
- Identifying how leaders in certain fields perform and continually comparing and measuring performance against these otustandign performers.
- quality control
- Measuring goods and services against established qulaity standards.
- International Organization for Standardization (ISO)
- International organization whose mission is to promoote the development of standardized products to facilitate trade and cooperation across national borders.