Better Business Chapter 7 Business Management and Organization – Flashcards
Unlock all answers in this set
Unlock answersquestion
Management
answer
The process of working with people and resources to accomplish the goals of an organization.
question
Top Managers are
answer
Corporate officers who are responsible for the corporation as a whole.
question
Tasks of top management
answer
Generate strategic plans, long term goals mission statement and vision of the organization.
question
Middle Managers are
answer
Responsible for creating specific plans that coordinate with the strategic vision of a company.
question
First line managers are
answer
managers that fill a supervisory role over those employees that carry out the day to day operations of a company.
question
Conceptual Skills
answer
The ability to think abstractly.
question
Interpersonal skills
answer
The ability to motivate and communicate easily with others.
question
Technical skills
answer
Specific knowledge for the discipline.
question
Decision making skills
answer
The ability to analyze and implement the best plan of action.
question
Strategic plan
answer
The main course of action that set the approach for achieving the long term goals and objectives of an organization.
question
Mission statement
answer
A more current description of an organizations purpose, basic goals and philosophies.
question
Vision statement
answer
Identifies what the business wants to be in the future, and what they would like to see as the end result of all of their work.
question
Planning
answer
The process of establishing goals and objectives and determining the best ways to accomplish them.
question
Goals
answer
Broad, long-term accomplishments an organization wants to achieve in a certain time frame. usually about 5 years.
question
Objectives
answer
Short-term targets.
question
Tactical plans
answer
Plans made to help carry out the goals of a company, usually with a 1 to 3 year horizon in mind.
question
Vertical organization
answer
The power belongs to a few, and most people are in postions where they obey a supervisor.
question
Horizontal organization
answer
The power is distributed, with many people organized in teams or groups.
question
Inverted organization
answer
Management is answerable to employees. Employees are enabled, encouraged and empowered to do what they do best.
question
Matrix organization
answer
System of management where people are pooled into groups by skills and then assigned to projects as needed.
question
Network organization
answer
A collection of independent, mostly single function firms that collaborate on a product or service.
question
Controlling
answer
The process by which managers measure performance and make sure that the company's plans and strategies are being or have been properly carried out.
question
Total quality management
answer
An integrated approach that focuses on quality from the beginning of the production process up through the final monitoring to detect and correct problems.
question
Six sigma
answer
A statistically based, proactive, long term process designed to examine the overall business process and prevent problems.
question
To achieve the "Six Sigma standard"
answer
A business must not allow more than 3.4 defects per million opportunities.
question
Organizing, controlling, planning and leading
answer
The primary processes of management.
question
Cause and effect diagram
answer
Also known as the fishbone diagram illustrates all the contributing factors in the product design that might lead to faulty production.
question
Run Chart
answer
Displays the value of some data across a specific set of dates.
question
Histogram
answer
Displays the count of the number of times a specific event occurs.
question
Control chart
answer
Displays the average and fluctuations of a process being monitored to determine whether it is behaving within the limitsof proper functioning.
question
Check sheet
answer
A simple sheet recording the number of times certain products defects occur.
question
Pareto chart
answer
A combination of bar and line graphs that show different categories of problems and the total number of problems.
question
Scatterplot
answer
A graph that displays the values of two variables to see if there is a relationship between the variables.
question
Contingency planning
answer
A set of plans that ensures that an organization will run as smoothly as possible during an unexpected disruption.
question
Operational plans
answer
The specifics of carrying out the tactical plans.
question
SWOT analysis
answer
Helps determine the strategic fit between an organization's internal distinctive capabilities and external possibilities relative to the business and economic environments.
